Sunday, 29 Nov 2020

Economy

Going green could bring Asean $1.3 trillion in benefits: Report

Going green could bring up to US$1 trillion (S$1.3 trillion) in annual economic benefits to South-east Asian economies by 2030, a report by global management consulting firm Bain and Company said yesterday. Greater investments in renewable energy, reduced consumption and better waste management, less damaging crop growing practices and improved urban planning are among the […]

RCEP negotiators recount twists and turns in 8-year journey to world's biggest trade pact

SINGAPORE – Ms Sulaimah Mahmood recalls with bracing clarity the moment last year when India dropped the bombshell that it would pull out of the Regional Comprehensive Economic Partnership (RCEP). Eight years’ worth of hard-fought negotiations flashed past the eyes of Singapore’s chief RCEP negotiator as Indian Prime Minister Narendra Modi said on Nov 4, 2019, that […]

Human Capital Singapore and IHRP sign partnership deal to strengthen HR profession

SINGAPORE – Human resource (HR) professionals will be vital in steering the workforce to emerging areas in a post-coronavirus world, said Senior Minister of State for Manpower Zaqy Mohamad on Wednesday (Nov 25). He told a virtual audience at a masterclass organised by Human Capital Singapore (HCS): “HR has a major role to play. For […]

Shopee owner's chief Forrest Li named Businessman of the Year

SINGAPORE – When Mr Forrest Li first arrived in Singapore more than 15 years ago, the then 28-year-old was deep in debt to the tune of $100,000, had next to nothing in the bank and made only enough to rent a room in a flat in Braddell. Today, Mr Li, 43, is the billionaire founder […]

UPDATE 1-EU launches third SURE bond sale; euro zone yields edge up

* EU receives 90 bln euros of initial demand for new SURE bond * To raise 8.5 bln euros * Ifo survey, Trump have little impact on market (Recasts, adds details) AMSTERDAM, Nov 24 (Reuters) – Investors scrambled to buy the European Union’s latest bond to fund its SURE unemployment scheme on Tuesday, while reaction […]

Yellen has the policy chops and political savvy for US Treasury secretary

WASHINGTON (BLOOMBERG) – Janet Yellen knows a deep recession and a patchy recovery from the inside. She’ll need all that policy prowess and a healthy dollop of political savvy to steer the US, and by default the rest of the world, through this epic slowdown. The former Federal Reserve chair is Joe Biden’s pick for […]

World economy risks fresh downturn despite vaccine nearing

NEW YORK (BLOOMBERG) – The surging coronavirus is stoking fears of a fresh downturn for the world economy, heaping pressure on central banks and governments to lay aside other concerns and do more to spur demand. Hopes are mounting that Covid-19 vaccines will become available as soon as December, but widespread delivery will take months […]

Tax evasion costs the world $574 billion a year: Report

LONDON (AFP) – Tax evasion is costing the world about US$427 billion (S$574 billion) per year with cash funnelled via murky tax havens, according to data published on Friday (Nov 20) by the Tax Justice Network. The TJN said in a statement that it has sifted through records worldwide in the first global study of […]

China credit jitters deepen selloff in government bonds

BEIJING (BLOOMBERG) – The credit default shock waves rippling through China are hurting demand for sovereign bonds, with market watchers seeing the slide lasting the rest of 2020. China’s 10-year government notes are set to drop for a seventh month in November, on track for the longest retreat since 2007. The decline has pushed the […]