World

Russian President Vladimir Putin attends a meeting of heads of the Shanghai Cooperation Organization (SCO) member states at a summit in Samarkand, Uzbekistan September 16, 2022. Foreign Ministry Of Uzbekistan | via Reuters Ukraine's counteroffensive, which has seen vast swathes of Russian-occupied territory get recaptured, could be compounding Russia's economic troubles, as international sanctions continue to hammer its fortunes. Ukraine's military has had stunning success in recent weeks, recapturing Russian-occupied territory in the northeast and south of the country. Now, Kyiv is hoping to liberate the Luhansk in the eastern Donbas region, a key area where one of two pro-Russian self-proclaimed "republics" is located. Holger Schmieding, chief economist at Berenberg, said the recent Ukr...

The crushingly complex, high-stakes business of making semiconductors has always been a battle between global giants. Now it is also a race among governments. These critical bits of technology — also known as integrated circuits or, more commonly, just chips — may be the tiniest yet most exacting products ever manufactured. And because they are so difficult and costly to produce, there is a worldwide reliance on just a handful of companies. That dependence has been brought into stark relief by shortages during the pandemic and by a ratcheting up of US restrictions on chip exports to China amid rising tensions around trade and security. Tens of billions of dollars will be spent in the coming years in a dash to expand production, with geopolitical as well as economic fallout. Why the war...

NEW DELHI : An influential Indian nationalist group will push for limits on entry fees for players of paid online games, potentially turning up the heat on a multi-billion-dollar industry that is preparing to lobby against tougher rules. The growing popularity of real-money games, driven by backing from top figures in cricket, a subcontinental craze, has prompted regulatory efforts to combat the risk of addiction, and reports of financial losses and suicides among young people. Such games could make up as much as 53 per cent of a gaming market that is set to reach $7 billion by 2026, or three times its size last year, says research firm Redseer. "Ticket size should be regulated. It should not be more than 50 rupees. This is an addiction," said Ashwani Mahajan, an official of the Swadesh...

Understanding your "why" is essential, says Crider, because it can help guide your decisions around money. Here's the decision-making framework Crider suggests to help you maximize your financial life. "Some people want to spend more time with their family, or focus on health and wellness. Some want to pursue passion projects. Some want to be able to turn down promotions or start a business," he says. "It's not always about not working." While the answer may seem straightforward ("Why wouldn't I?") people's reasoning can vary widely, Crider points out. But anyone pursuing FIRE should ask themselves one question, says Jim Crider, a certified financial planner who specializes in younger clients pursuing financial independence. "Why do I want to be financially independent?" There are plen...

Jerome Powell at Jackson Hole, WY Jonathan Crosby | Reuters Here are the most important news items that investors need to start their trading day: 1. Fed meeting kicks off The Federal Reserve's policy-setting committee is set to start its two-day meeting Tuesday, as the market waits to see whether the central bank raises its benchmark rate by three-quarters of a point or a full point. The announcement is set for Wednesday. Stocks generally have been in sell-off mode since August's inflation data came in hotter than expected, prompting more uncertainty about how long the Fed would keep raising rates to battle price increases. U.S. equities markets, coming off a positive Monday, were set to open lower Tuesday morning. Read more: Sweden's central bank hikes rate, says 'inflation is too hig...

Addressing talk about a "groundswell" against Singapore's death penalty, through activists, news reports and prominent people like British entrepreneur Richard Branson, Mr Shanmugam pointed to an anti-death penalty protest at Hong Lim Park in April. Organisers said more than 400 people turned up, but Mr Shanmugam believes these numbers are usually "exaggerated". "Now, therefore, if we believe that it is the best interest of society, Singapore, and if the vast majority of Singaporeans support it, as they do, then do you want us to change policy because four newspapers write about it, talking to the same three activists and quoting the same three activists?" he asked. "And I'm not saying these are precise numbers, but I'm giving you the picture. So, the government policy, if 400 people pl...

SYDNEY: The dollar surged to a fresh two-decade high and Asian stocks hit a two-year low on Thursday (Sep 22) as the prospect of US interest rates rising further and faster than expected spooked investors. The Federal Reserve raised its benchmark rate by 75 basis points on Wednesday, the third such rise in a row, and officials project rates hitting 4.4 per cent this year - higher than markets had priced in before the meeting and 100 bps more than the Fed projected three months ago. The dollar rose, short-dated bonds sold off and Wall Street fell overnight, with the moves extending into the Asia session. The euro sank to a 20-year low of US$0.9807 amid growing concerns about an escalation in the war in Ukraine after Russia mobilised reservists for the first time since World War II. The ...

Both Irfan and Ikhsan have established themselves as key players for club and country. The brothers, 25 and 23 respectively, who both play for top-tier Thai side BG Pathum United, most recently became the first Singaporeans to reach the Asian Champions League quarter-finals. “(I want to) just continue to bring the family name up. Ikhsan, Irfan have been doing it well, so I just want to continue to do that as well.” And Ikhsan, who is a striker, is one of the people Ilhan turns to for advice. “He tries to watch me or he watches the highlights and things like that. I will say: 'Ix, how was my running today ... how can I improve?'” Ilhan explained. In an international friendly against Malaysia in March, Irfan and Ikhsan started for Singapore, with the latter scoring twice. Later in the ga...

HONG KONG :Chinese electric vehicle maker Zhejiang Leapmotor Technology has shelved a plan to raise $1.5 billion through an initial public offering (IPO) in Hong Kong because of lukewarm investor interest, said two sources with direct knowledge of the matter. Bankers and advisers had hoped a deal of the size planned by Leapmotor, which would have been Hong Kong's largest IPO so far in 2022, would revive the city's flagging new issue market. Instead, the deal has been put on hold and Leapmotor is considering cutting the size of the transaction, one of the sources said. The decision to pause the Hong Kong IPO was made after the company met with investors over the past week to gauge sentiment towards the company and its listing plans, the sources said. A smaller IPO size would be more att...

SINGAPORE: The Public Service Division (PSD) announced on Friday (Aug 26) that Permanent Secretary (Social and Family Development) Aubeck Kam will be appointed as Permanent Secretary (Home Affairs Development) at the Ministry of Home Affairs (MHA). This comes as Mr Chew Hock Yong will be retiring on Nov 1 after 31 years in public service, said PSD in a news release. Mr Kam will be appointed concurrently to the role on the same date. He has been Permanent Secretary (Social and Family Development) since April 2022. Mr Chew, 58, joined the public service in 1991 and served in key roles in several ministries. He was appointed Deputy Secretary of the then Ministry of Community Development, Youth and Sports in 2004 and as Second Permanent Secretary of the Ministry of National Development in 2...