World

SINGAPORE: Oil prices slid on Tuesday (Jan 3) from their highest levels in a month after Chinese economic data dampened market sentiment and the head of the International Monetary Fund warned of a tougher 2023. Brent crude futures had fallen by 25 cents, or 0.29 per cent, to US$85.66 a barrel by 4am GMT, while US West Texas Intermediate crude was at US$80.06 a barrel, down 20 cents, or 0.25 per cent. Weaker factory data from China, the world's largest crude importer and second-largest oil consumer, weighed on prices. The Caixin/Markit manufacturing purchasing managers' index fell to 49.0 in December from 49.4 in November. The index has stayed below the 50-point mark that separates growth from contraction for five straight months. Yet there was a return to regular activity in China on Mo...

Whether you've recently bought a house and want to make some adjustments or have been a homeowner for quite some time and think you're long overdue for some renovations, you'll want to make sure you have the financial means to take on such project. Home improvement costs can vary depending on what part of the home you're fixing, but according to Rocket Mortgage, Americans spend an average of $15,000 on a single home improvement project. If you don't have the savings to float your entire improvement project, you might consider applying for a personal loan since it can be used for a variety of expenses and typically carry lower interest rates compared to credit cards. Personal loans must be paid back in regular increments over a set period of time. The longer your loan term, the lower your m...

TAIPEI : Taiwan's economy likely expanded much more slowly in the fourth quarter compared to the prior quarter due to increased global economic headwinds denting demand for technology which is a key export, a Reuters poll showed on Tuesday. Gross domestic product (GDP) likely grew just 1.3 per cent in October-December versus a year earlier, the poll of 20 economists shows, after it expanded 4.01 per cent year-on-year in the third quarter. Policymakers have said they expect full-year 2022 growth of around or less than 3 per cent, slower than the 6.45 per cent logged for 2021. That was the fastest rate in over a decade since it expanded 10.25 per cent in 2010. Economists' forecasts for preliminary GDP data due on Wednesday varied widely from a contraction of 0.1 per cent to growth of 3.5 ...

Yoon blamed the lack of preparedness on his predecessor's "dangerous" North Korea policy, which relied on Pyongyang's "good intentions" and a 2018 inter-Korean military pact banning hostile activities in the border areas. "We have been planning to establish a drone unit to monitor and reconnoitre major North Korean military facilities, and will now expedite the plan as much as possible," he added, vowing to boost its surveillance and reconnaissance capability with cutting-edge stealthy drones. The military apologised for its failure to shoot down the drones, which it said were too small to easily intercept, measuring about 3m. The military also said it could not aggressively attack them because of concerns over civilian safety, and pledged to improve anti-drone capabilities including st...

SINGAPORE: Singapore's non-oil domestic exports (NODX) fell for the third straight month in December due to weak global demand. NODX fell by 20.6 per cent year in December from a high base a year ago, following the 14.7 per cent decrease in November. According to data released by Enterprise Singapore (EnterpriseSG) on Tuesday (Jan 17), the drop was led by both electronics and non-electronics products. On a year-on-year basis, electronics contracted by 17.9 per cent in December, following the 20.2 per cent decline in the previous month. Integrated circuits, disk media products and personal computer parts decreased by 26.0 per cent, 36.5 per cent and 41.7 per cent respectively, contributing the most to the decline in electronics. Non-electronics declined by 21.3 per cent in December fro...

BEIJING :China's economic growth is likely to rebound to 4.9 per cent in 2023, before steadying in 2024, a Reuters poll showed, as policymakers pledge to step up support for the COVID-ravaged economy. Gross domestic product (GDP) likely grew just 2.8 per cent in 2022 as lockdowns weighed on activity and confidence, according to the median forecasts of 49 economists polled by Reuters, slower than a 3.2 per cent rise seen in October's forecast and braking sharply from 8.4 per cent growth in 2021. Chinese leaders have pledged to spur the world's second-largest economy this year while addressing some key drags on growth - the "zero-COVID" policy and a severe property sector downturn. Strict COVID curbs were abruptly lifted in December, but surging infections are causing some near-term pains...

A US military spokesperson said the Chinese jet came within 3m of the plane's wing, but 6m from its nose, which caused the US aircraft to take evasive manoeuvres. The United States has raised the issue with the Chinese government, a separate US official said. The Chinese embassy in Washington DC did not immediately respond to a request for comment. In the past, China has said that the United States sending ships and aircraft into the South China Sea is not good for peace. US military planes and ships routinely carry out surveillance operations and travel through the region. China claims vast swathes of the South China Sea that overlap with the exclusive economic zones of Vietnam, Malaysia, Brunei, Indonesia and the Philippines. Trillions of dollars in trade flow every year through th...

Graham Cochrane, Founder of The Recording Revolution, started his business in 2009 during The Great Recession. When starting a business, it's sometimes hard to know what to prioritize, and going at it alone can be overwhelming. But there are strategies you can use to avoid common pitfalls. My mission is to teach people how to earn money from their passions. It's what I did: I went from living on food stamps to building two online businesses. Today, I run a music blog, The Recording Revolution, and a entrepreneurship coaching company. I work just five hours a week from my home office and make $160,000 a month in passive income. Here's what I tell my 3,000 clients to think about in the first 30 days of starting a business: 1. Be clear about how you want to spend your time. Many new busine...

SINGAPORE: The Housing and Development Board (HDB) is investigating cases of Build-to-Order (BTO) flats being put up for sale after they were left vacant for years. In response to CNA’s queries, HDB said on Thursday (Dec 22) it is aware of property listings of “vacant” BTO flats being sold on the open market. “This includes the cases mentioned in recent media reports, some of which have already been under investigation at the time of media’s reporting,” it said. Reports this week showed a BTO flat in Yishun being put up for sale after being left vacant for eight years. There were also reports of other empty BTO flats that appear to have never been lived in being listed for sale on property portals. According to HDB’s minimum occupation period (MOP) rules, owners are required to live in...

LIMA: Peru's capital Lima and three other regions were under a state of emergency on Sunday (Jan 15), with deadly weeks-long protests against President Dina Boluarte showing no signs of abating. At least 42 people have died, according to Peru's human rights ombudsman, in five weeks of clashes at burning roadblocks to demand fresh elections and Boluarte's resignation. She took over on Dec 7 as the South American country's first woman president following the impeachment and arrest of Pedro Castillo for a failed bid to dissolve Congress and rule by decree. Castillo, a leftist former rural school teacher and union leader, faced vehement opposition from Congress during his 18 months in office and is the subject of numerous criminal investigations into allegations of widespread graft. His ou...