World

The "microfinance" industry — long touted as a way to help poor, rural communities in developing countries — is pushing tens of thousands of farming families into debt traps as they attempt to adapt to a changing climate, according to a report. The study, conducted by researchers at a group of U.K. universities, looked at a range of case studies in Cambodia, where it found easy-access loans had caused an "overindebtedness emergency" that was undermining borrowers' long-term ability to cope with their new environment. Modern microfinance institutions (MFIs), which are generally small, locally run organizations with a variety of funding sources such as international investors, banks and development agencies, emerged in the 1970s and grew rapidly in the early 2000s. They were promoted as a wa...

While these ingredients are controversial, there’s no conclusive evidence that they are certain to negatively impact our skin and health. But if your current products have not been working well for you, it doesn’t hurt to try products that are free of these and see if they actually improve your skin. Parabens and phenoxyethanol: These have long been widely used as preservatives in skincare products and have been proven to be safe for use, provided they are utilised in low concentrations approved by regulating bodies. Still there are reasons for not wanting them in our skincare products. According to Thomas, these ingredients behave like large-spectrum antibiotics. “They’re supposed to kill bacteria in the formula – that’s their job. Unfortunately, they will also kill a few things in your ...

'Tis the season for the post-holiday blues. Switching back to work mode after a few days of sleeping in, unwrapping gifts and popping champagne can be brutal. But even though the spell of holiday magic might have worn off, you don't have to go back to work in despair. "The first week of the year is like a warm-up period," Laith Masarweh, the CEO and founder of Assistantly, a virtual assistant staffing company, tells CNBC Make It. "Don't put too much pressure on yourself to be 100% up-to-speed. [Just] do your best to be positive and let yourself get excited for the new year ahead." Consider these tips from executives for a smooth return-to-work after the holidays: Wake up earlier It might seem counterintuitive, but waking up a bit earlier than usual on your first day back to work after th...

BENGALURU : The Indian government is set to tap the brakes on a torrid pace of capital investment growth in the coming fiscal year as a slowing economy limits spending power by weakening tax revenue, according to a Reuters poll of economists. Food and fertiliser subsidies that help two-thirds of India's 1.4 billion people will also be scaled back, according to the survey. Prime Minister Narendra Modi's government has more than doubled capital spending since fiscal 2019/20 in a bid to make India a more attractive destination for global manufacturing. But private investment has lagged New Delhi's lead for about a decade. Now, that robust pace of government investment is set to slow to barely half its previous rate in the fiscal year to March 2024, according to the Jan. 13-20 Reuters poll ...

HONG KONG: As casinos in Macao begin new licenses to operate in the world’s biggest gambling hub on Jan 1, the stakes are high on whether they will be able to successfully deliver on a government mandate to diversify away from their cash-cow: Gambling. For the last 20 years, Sands China, Wynn Macau, MGM China, Galaxy Entertainment, MGM China and SJM Holdings, have raked in billions of dollars from their casinos in the Chinese special administrative region, turning the once sleepy fishing village into a glitzy boomtown. But their 10-year, shortened contracts come at a time when COVID-19 restrictions have decimated Maca0’s gambling revenues, with 2022 the worst annual performance on record. Industry net debt is surging and operators face a new era of government oversight and control over t...

SINGAPORE: Asian equities were subdued on Wednesday (Dec 28), while the dollar held firm, with investors looking for direction after China took further steps towards reopening its COVID-battered economy. MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.13 per cent, snapping a two-day winning streak and looking set to end the last month of the year in the red. Japan's Nikkei opened 0.5 per cent lower at the open, while Australia's S&P/ASX 200 index lost 0.43 per cent. China stocks were set to open slightly lower, while the Hong Kong stock market opened 1 per cent higher, encouraged by China's Monday announcement it would stop requiring inbound travellers to go into quarantine starting from Jan 8. A faster than anticipated peak of infection has stoked expectations that a...

The chairman of Tata Sons group, which owns Air India, has expressed "anguish" over an incident in which a drunk man allegedly urinated on a female passenger on a flight. The man was arrested by Indian police on Saturday (Jan 7). He was later fired as vice president of US banking giant Wells Fargo. The incident on an Air India flight between New York and New Delhi on Nov 26 came to light after the 72-year-old female passenger sent a complaint letter to the airline. Tata Sons chairman N Chandrasekaran said in a statement that the matter has been "a matter of personal anguish to me and my colleagues at Air India", adding that the airline should have been much swifter in its response. "We fell short of addressing this situation the way it should have been," he said. "The Tata Group and A...

SINGAPORE: A woman who used a knife to stab her 15-year-old daughter in the thigh over the teenager's supposed sexual conduct was sentenced to 14 months' jail on Wednesday (Jan 4). The woman, who cannot be named to protect the victim's identity, had previously pleaded guilty to one count of voluntarily causing hurt by an instrument likely to cause death. The court heard that the woman was drinking alcohol at home on the night of Jun 19 last year. Her two daughters, aged 15 and 20 at the time, were in the flat along with their baby brother and maid. In the wee hours of Jun 20, 2022, the younger daughter was preparing to go to bed when her mother entered her room and began scolding her. The mother called her older daughter in and asked her if she could kill the younger daughter. Fearing...

Passengers prepare to enter Shenzhen through the Lok Ma Chau Spur Line Control Point on the first day of the resumption of normal travel between Hong Kong and mainland China on Jan. 8, 2023, in Hong Kong. Li Zhihua | China News Service | Getty Images Mainland China's move away from its zero-Covid policy has led to a sharp surge in infections, and the resumption of travel means some are looking farther afield for vaccines. In mid-December, China's full Covid vaccination rate stood near 87%, with 54% boosted. The main Covid vaccines approved for use in China are from Sinovac and Sinopharm. Mainlanders have been flocking to Macao in recent months for Western mRNA vaccines, which are widely administered around the world but not endorsed by China. But even if patients attempted booking an appo...

SINGAPORE: A senior engineer at SBS Transit asked for money from the owner of a vendor supplying services to the transport company, in order to pay off his debts and handphone bills. Lau Yuen Fai, 61, was fined S$3,600 and ordered to pay a penalty of S$1,350 for his crimes on Thursday (Jan 19). Lau pleaded guilty to two counts under the Prevention of Corruption Act of accepting gratification in exchange for engaging the vendor for jobs. A third charge was taken into consideration. The court heard that Lau got to know Poh Beng Chye, the sole proprietor of Clear Cut Engineering which fabricated and supplied machine parts and carried out maintenance jobs, during his previous employment. Lau worked at Sembawang Shipyard between 1996 and 2001, and became acquainted with Poh there. They beca...