The flagship project under China’s Belt and Road Initiative has run into a lack of sustained investment, which analysts said is holding back its progress. GWADAR, Pakistan: The China-Pakistan Economic Corridor (CPEC) was launched to much fanfare almost a decade ago, with US$54 billion worth of infrastructure projects planned. But […]
Business
BEIJING: China’s services activity in May accelerated at the quickest pace in 10 months while staffing levels expanded for the first time since January, a private sector survey showed on Wednesday (Jan 5), pointing to sustained recovery in the second quarter. The Caixin/S&P Global services purchasing managers’ index (PMI) rose […]
NEW YORK: A former Meta engineer on Tuesday accused the company of bias in its handling of content related to the war in Gaza, claiming in a lawsuit that Meta fired him for trying to help fix bugs causing the suppression of Palestinian Instagram posts. Ferras Hamad, a Palestinian-American engineer […]
SINGAPORE: Oil prices fell for a third straight session on Wednesday on expectations the Federal Reserve might keep U.S. interest rates higher for longer due to sustained inflation, potentially impacting fuel use in the world’s largest oil consumer. Brent crude futures were down 60 cents, or 0.7 per cent, to […]
MUMBAI – Traders in India’s stock markets are turning to illegal election betting platforms for clues to combat the uncertainty facing citizens and markets alike regarding the outcome of a long general election. Weeks before vote counting set for June 4, stock markets are closely tracking shadow-betting platforms that are […]
Ride-hailing company Uber will acquire Delivery Hero’s foodpanda branded takeaway business in Taiwan for $950 million in cash, the companies said on Tuesday. Germany’s Delivery Hero plans to additionally issue 8.42 million new ordinary registered shares which Uber has agreed to purchase for $300 million, the two companies said. Following […]
SINGAPORE: The United States sees Iran’s capacity to move its oil as reliant on service providers based in Malaysia, with oil being transferred near Singapore and throughout the region, the US Treasury Department’s top sanctions official said on Tuesday. Brian Nelson, Treasury’s undersecretary for terrorism and financial intelligence, was speaking […]
SHANGHAI: US Secretary of State Antony Blinken called on Thursday (Apr 25) on the United States and China to manage their differences “responsibly” as he went on a charm offensive ahead of expected tough talks. A day before meeting Beijing’s top brass to tackle thorny issues including Russia, Taiwan and […]
TOKYO: Toyota Motor will delay the start of its electric vehicle (EV) production in the U.S. to the spring of 2026 from the proposed 2025 timing, the Mid Japan Economist newspaper said on Thursday. The automaker will also reduce its domestic vehicle production to less than 14,000 vehicles per day […]
BANGKOK : Thai banks will cut lending rates by 25 basis points for vulnerable groups for a period of six months, the country’s Bankers’ Association said on Thursday. The decision came after Prime Minister Srettha Thavisin said this week he had asked Thailand’s four largest lenders to lower interest rates […]