Meta Platforms Inc will cut thousands of jobs as soon as this week in a fresh round of layoffs, Bloomberg News reported on Monday, only a few months after the Facebook-parent reduced more than 11,000 people from its workforce. The new round of job cuts is being driven by financial […]
Business
BANGKOK : Thailand’s exports are likely to contract 8 per cent in the first quarter of this year from a year earlier as global demand slows, the country’s shippers’ council said on Tuesday. That compared with a previous forecast of a fall of 3.7 per cent in exports in January-March […]
SHANGHAI: China’s science and technology policies should aim to build the country’s strength and self-reliance, while companies take the lead in pushing innovation, Premier Li Keqiang said on Sunday (Mar 5). The country effectively countered external attempts to suppress and contain China’s development over the past five years by promoting […]
WASHINGTON: Secretary of State Antony Blinken is heading to Central Asia hoping that greater US engagement will reassure former Soviet republics rattled by the Ukraine war, although Russia’s historic clout limits the extent of cooperation. Days after the anniversary of the Ukraine invasion, the top US diplomat will hold talks […]
JAKARTA: Indonesia’s plan to require exporters to retain part of their earnings onshore should boost U.S. dollar liquidity, but bankers and businesses warn against imposing mandatory conversion of funds to rupiah, some likening it to a form of capital control. The central bank, Bank Indonesia (BI), hopes the repatriation of […]
Switzerland’s biggest bank UBS Group AG is looking to apply for a mutual fund license in China, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The Swiss bank is in informal talks with the China Securities Regulatory Commission (CSRC) about its intention to apply, the […]
HONG KONG : Hong Kong will give more handouts to consumers to support the city’s recovery from a prolonged economic downturn induced by COVID-19 restrictions, Financial Secretary Paul Chan announced in the 2023/24 budget on Wednesday. The global financial hub will issue vouchers worth HK$5,000 ($637) per person to all […]
NEW DELHI: Independent Indian journalist Paranjoy Guha Thakurta is being sued by tycoon Gautam Adani’s business empire in six different courts – and he is not allowed to speak about the conglomerate or its owner. US investment firm Hindenburg Research, whose explosive report on Adani Group last month triggered a […]
STOCKHOLM : Nokia and Kyndryl have extended their partnership for three years after clocking up more than 100 customers for automating factories using 5G wireless networks, following their first tie-up a year earlier. Big technology firms have been partnering with telecom gear makers such as Nokia to sell private 5G […]
A year of war in Ukraine has already made a dent in world prosperity. But its deeper impact will be felt in how the conflict plays into shifts that were already reshaping the global economy before Russia’s tanks rolled in. Most immediately, the war added new uncertainties to the economic […]