SINGAPORE: Resorts World Sentosa (RWS), one of Singapore’s biggest private-sector employers, said on Wednesday (Jul 15) it was laying off staff as part of cost-cutting measures in the wake of the coronavirus pandemic. The resort, which is owned by Genting Singapore, declined to say how many staff members were affected […]
Business
SINGAPORE: The Singapore Airlines (SIA) Group recorded a 99.3 per cent year-on-year decline in passenger carriage in June, according to its operating results published on Wednesday (Jul 15). Overall results improved marginally from May despite travel demand continuing to be severely impacted by the COVID-19 pandemic as flights slowly began […]
BEIJING: Beijing lashed out on Wednesday (Jul 15) at Britain’s decision to ban Huawei equipment, saying London had become “America’s dupe” and vowing to take measures to protect the interests of Chinese companies. The British government bowed to growing US pressure and pledged on Tuesday to remove Chinese telecoms giant […]
TOKYO: Japan’s economy will contract 4.7 per cent in the year to March 2021, the central bank said on Wednesday, projecting a recovery the following year but warning that deep uncertainty remains. The fresh outlook, with policymakers giving a range of contraction from 5.7 per cent to 4.5 per cent, […]
SINGAPORE: Sales of new private homes more than doubled in June after showflats reopened following an almost two-month long COVID-19 “circuit breaker” period, in what analysts said indicate firm underlying demand for affordable properties. Developers sold 998 units – excluding executive condominiums (EC) – in June, an increase of 105 […]
Pro-Beijing activists holding placards and flags hand over a petition at the US consulate general in Hong Kong. BEIJING: China on Wednesday (Jul 15) said it would retaliate after US President Donald Trump signed into law an Act allowing sanctions on banks over Beijing’s clampdown on Hong Kong. The […]
WASHINGTON: US President Donald Trump on Tuesday (Jul 14) shut the door on Phase 2 trade negotiations with China, saying he does not want to talk to Beijing about trade because of the coronavirus pandemic. “I’m not interested right now in talking to China,” Trump replied when asked in an […]
KUALA LUMPUR: Malaysia’s largest rubber glove manufacturer Top Glove is investing US$1 billion over the next five years to expand its production capacity, in order to meet surging demand for protective gloves amid the COVID-19 pandemic. Speaking in an exclusive interview, Top Glove’s executive chairman and founder Lim Wee Chai […]
Three of the largest U.S. banks said on Tuesday they had set aside a whopping US$28 billion for loan losses, in a stark reminder that much of the economic pain from the coronavirus pandemic is still to come. NEW YORK: Three of the largest U.S. banks said on Tuesday they […]
LONDON/BRUSSELS: Britain’s decision to ban China’s Huawei from its 5G network increases further pressure on EU countries to impose stricter limits on the world’s largest telecoms equipment maker just as the company expands its footprint across Europe. Prime Minister Boris Johnson announced the Huawei ban on Tuesday, frustrating Beijing but […]