World

Singapore is the most vulnerable and will be the first in Southeast Asia to get hit if the U.S. falls into a recession, says Chua Hak Bin of Maybank. Roslan Rahman | Afp | Getty Images SINGAPORE — Asia will not escape unscathed if the U.S. falls into recession, but some countries in Southeast Asia will be more badly hit than others, economists warn. The tug-of-war between inflation and recession in the United States continues as the Federal Reserve sticks to its hawkish stance on interest rate hikes. The U.S. has already reported two consecutive quarters of negative growth in the first two quarters of 2022 — what some consider a "technical" recession. Still, there's little consensus on when a full-blown recession might happen. Economists told CNBC that among countries in Southeast Asia, S...

WORKPLACES CAN SET THEIR OWN MASK POLICIES Responding to a reporter's question about whether employers can mandate masks at the workplace, Mr Wong said businesses have the discretion to decide. "That option remains because we are lifting the mandatory requirement for mask-wearing. But it is optional, employers may choose to decide. For that matter, in certain settings, industry regulators might also decide that it is a safety requirement." For example, food handlers will still have to wear masks or a spit guard. Face shields, which are not considered an "effective physical barrier" due to a large gap at the bottom of the shield that can cause food contamination, are not approved for use, said the Singapore Food Agency. This applies to all workers who sell or prepare food and drinks, in...

SHANGHAI/HONG KONG: Global fund managers holding US-listed Chinese stocks are steadily shifting towards their Hong Kong-traded peers, even as they remain hopeful Beijing and Washington will eventually resolve an audit dispute to keep Chinese firms on American exchanges. The pace of migration will likely accelerate, as more Chinese firms listed in New York are expected to follow technology giant Alibaba's intent to launch so-called primary listings in Hong Kong, potentially boosting liquidity there to smooth the transition. KraneShares CSI China Internet ETF (KWEB), a New York-listed fund focused on Chinese tech plays, started swapping American Deposit Receipts (Rs) into Hong Kong shares in December, when US securities regulators finalised rules to prohibit trading of Chinese companies no...

Finding ways to maximize what you can do with your income is an important part of money management. While it's easy to assume that involves sticking to strict budgets, improving your finances doesn't necessarily mean you have to stop buying non-necessities altogether — you just have to make sure you're avoiding frivolous, mindless spending so you have room to make purchases you genuinely love and care about. Of course, not every single purchase has to have meaning behind it, but it can be easy to fall into the trap of making impulse buys for instant gratification that you won't even care about after a short period of time. All that money can really add up and before you know it, you won't have enough cash left over for the experiences and things you truly value. "Spending based on your val...

BEIJING : China's export growth likely lost steam in August amid weakening global demand, while imports were also seen slowing due to sluggish consumption and a property crisis, raising concerns about economic momentum, a Reuters poll showed on Monday. Exports in August were expected to have risen 12.8 per cent from a year earlier, according to the median forecast of 26 economists in the poll, after growing 18.0 per cent in July. The double-digit growth suggested booming exports remained one of the major drivers of the world's second-biggest economy, but analysts expect them to slow as surging inflation cripples overseas demand and China's zero-COVID policy disrupts production and business activity. "We see signs of slowing export momentum in August. Domestically, trade-related cargo th...

For the most part, residents of Asia-Pacific can travel again. But some are more confident about packing their bags than others. Travel confidence is "diverse and nuanced" in the region, according to a new survey commissioned by the travel website Booking.com. Some 11,000 people in the region were polled about their comfort levels and concerns, as well as their willingness to tolerate the types of disruptions that have become common since the pandemic began. The rankings The survey results were published in Booking.com's inaugural "Travel Confidence Index," which ranked the places in order of most to least confident. Key findings from the study include: No. 1: India According to the survey, Indians emerged as having the highest travel confidence. Some 86% of respondents indicated plans ...

SINGAPORE: A man who raped his 14-year-old daughter continued to do so after his wife had to undergo treatment for cancer. The 44-year-old man was on Monday (Aug 8) sentenced to 24 years' jail and the statutory maximum of 24 strokes of the cane. The victim's identity is protected by gag order, and the offender cannot be named as he is her biological father. He pleaded guilty to three counts of rape. Another eight counts of rape, molestation and sexual assault by penetration were considered for sentencing. The court heard that the man first sexually abused his daughter in May 2019, and this continued for several months. VICTIM PRETENDED TO BE ASLEEP In October 2019, while the rest of the family was asleep, the man entered the victim's bedroom and sexually assaulted the girl before rap...

The company is one of the employers who have participated in the SkillsFuture Work-Study Programme (WSP), an initiative that encourages organisations to develop their manpower pipeline by grooming local graduates. Under the WSP, participating employers offer structured training to fresh graduates from polytechnics and the Institute of Technical Education (ITE), as well as mid-career individuals who are enrolled in further studies at institutes of higher learning (IHLs) or SSG’s appointed private training providers. WSP trainees attend classes while also working with employers that offer mentorship, guidance and opportunities to hone their skills in real-world projects. The company benefits from having a ready source of trained talent to support business operations and growth, as well as ...

TUNIS: Japan will cooperate closely with African countries to promote "more resilient" economies, Prime Minister Fumio Kishida told the final session of an investment conference in Tunisia on Sunday (Aug 28). He also promised Japan would use its place on the United Nations Security Council next year to push for a permanent African seat on the world body, a day after announcing US$30 billion in public and private finance for the continent. Japan wants "to create an environment where African people can live in peace and security so they can develop", Kishida said, speaking via live video from Tokyo after testing positive for COVID-19 days earlier. Senegalese President Macky Sall, chair of the 55-member African Union, backed Kishida's call for the continent to have a seat on the UN Securit...

BRUSSELS : Jamaica's Shericka Jackson stormed to victory in the women's 100 metres at the Diamond League meet in Brussels on Friday, handing compatriot and twice Olympic champion Shelly-Ann Fraser-Pryce her first defeat of the season by one-hundredth of a second. Fraser-Pryce was quick off the blocks and looked well set to win her fourth Diamond League title of the season before Jackson reeled her in over the final 20 metres, winning with a time of 10.73 seconds. Ivorian Marie-Josee Ta Lou was third (10.78). "It takes a lot of hard work to beat Shelley-Ann, she's a tough cookie to beat," Jackson said after her first win and fifth podium in the Diamond League this season. "Tonight I had a good execution ... probably not perfect but it paid off in the end." Fraser-Pryce, who pulled out o...