Business Archives - The Singapore Post

Five ways US government shutdown is hurting – and why it’s about to get worse

31Oct

By Stuart WhiteNo Comments

Five ways US government shutdown is hurting – and why it’s about to get worse

The US government shutdown has entered its fifth week and there is no clear end in sight. With Democrats and Republicans deadlocked over passing a spending plan that would reopen federal agencies, millions of Americans are feeling economic pain that could soon grow worse. The fiscal fight means millions of Americans may not receive food aid, thousands of troops could have to work without pay, and millions may go without heat. Here’s how the shutdown has affected everyday people. Food assistance More than 40 million Americans use the Supplemental Nutrition Assistance Program (Snap) to feed themselves and their families. While that programme had enough funding to survive the first four weeks of the shutdown, the Trump administration has said the money will run out on 1

China and Denmark strengthen business ties through CCPIT delegation

30Sep

By Nectar GanNo Comments

China and Denmark strengthen business ties through CCPIT delegation

A Chinese business delegation led by Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT), visited Denmark earlier this month as part of efforts to deepen China-EU economic cooperation. The visit included a high-level China-Denmark business roundtable, where companies from both sides discussed opportunities in the green transition, intelligent equipment, and supply chain cooperation. Executives from Danish companies such as Novo Nordisk and Maersk also met with the delegation. According to CCPIT, the meetings reflected optimism about China’s market potential and a willingness from Danish businesses to expand investment. The visit formed part of a wider European tour from September 8 to 13, which also included events in France. It coincid

China’s EV king BYD builds export momentum, expects sales abroad to top 20% this year

29Sep

By Nectar GanNo Comments

China’s EV king BYD builds export momentum, expects sales abroad to top 20% this year

In 2024, BYD’s sales outside the mainland accounted for less than 10 per cent of its total of 4.26 million deliveries Chinese electric-vehicle (EV) king BYD expects exports to make up about 20 per cent of its global sales this year, spurred by improved logistics and new model launches. The Shenzhen-based carmaker forecasts 800,000 to 1 million deliveries outside mainland China in 2025, compared with projected total sales of 4.6 million units, said Li Yunfei, the company’s general manager of branding and public relations. “We estimate that the proportion of our overseas sales would hit 20 per cent this year,” he said in a media briefing last week. “International deliveries will make a greater contribution in the years to come.” In 2024, BYD’s sales outsi

GE Healthcare exploring sale of China unit, source says

19Sep

By Nectar GanNo Comments

GE Healthcare exploring sale of China unit, source says

U.S. medical device maker GE Healthcare (GEHC.O), opens new tab is working with advisers to explore options for its China unit including an outright sale, a person with knowledge of the discussions said on Friday. It is also looking at finding a partner in China or selling a stake in the unit, said the person who declined to be identified as the information was confidential. The China unit would likely be valued in the billions of dollars but discussions are still at early stages and a more precise number is hard to pinpoint, the person said. Bloomberg first reported on Thursday that GE Healthcare is exploring options for its China unit including the sale of a stake, citing people familiar with the matter. GE Healthcare, which has a market value of some $34...

Business collaboration might restore US-China relations under deal-maker Trump.

18Jan

By Nectar GanNo Comments

Business collaboration might restore US-China relations under deal-maker Trump.

China can take a lesson from 1980s Japan, which defused bilateral frictions by strategically pivoting towards direct investment in US manufacturing As US president-elect Donald Trump prepares to take office on January 20, a pivotal moment in US-China relations is unfolding. One day before his inauguration, TikTok faces a shutdown under legislation requiring its Chinese parent ByteDance to divest or cease its US operations. Trump’s declaration last month that the United States and China “can together solve all the world’s problems” signals a reset in bilateral relations. He showed he was open to practical cooperation in his first term, notably with the phase-one trade agreement, which established frameworks for financial services and intellectual property protection, and expanded

When China looks to Southeast Asia, a C919 manufacturer opens a business in Singapore.

31Dec

By Joanne SerriehNo Comments

When China looks to Southeast Asia, a C919 manufacturer opens a business in Singapore.

China's leading aircraft manufacturer opened an Asia-Pacific office in Singapore this week, marking a significant step towards challenging Boeing and Airbus in the international aviation market. It is hoped the Commercial Aircraft Corporation of China (Comac) office would become a launch pad for China's home-grown C919 narrowbody airliner and its ARJ21 regional jet in Southeast Asia. Also on Tuesday, an ARJ21 belonging to Indonesian airline TransNusa completed its maiden 2,700 kilometre flight between Manado in Indonesia and the southern Chinese city of Guangzhou, which marked the longest commercial route for China's home-grown regional aircraft.TransNusa is the first overseas airline to operate the ARJ21, with three in service on routes between Indonesian islands, as well as Kuala ...

China will construct the biggest hydroelectric dam in the world in Tibet.

26Dec

By Nectar GanNo Comments

China will construct the biggest hydroelectric dam in the world in Tibet.

BEIJING: China has approved the construction of what will be the world’s largest hydropower dam, kicking off an ambitious project on the eastern rim of the Tibetan plateau that could affect millions downstream in India and Bangladesh. The dam, which will be located in the lower reaches of the Yarlung Zangbo River, could produce 300 billion kilowatt-hours of electricity annually, according to an estimate provided by the Power Construction Corp of China in 2020. That would more than triple the 88.2 billion kWh designed capacity of the Three Gorges Dam, currently the world’s largest, in central China. The project will play a major role in meeting China’s carbon peaking and carbon neutrality goals, stimulate related industries such as engineering, and create jobs in Tibet, the offici

Amid the holiday week, China equities modestly increase as traders wait for clarification on stimulus programs.

26Dec

By Nectar GanNo Comments

Amid the holiday week, China equities modestly increase as traders wait for clarification on stimulus programs.

China’s major stock indexes edged up slightly as investors struggled to find trading catalysts in many global markets during the Christmas holiday week.The CSI 300 Index, which tracks 300 of the largest stocks in Shanghai and Shenzhen, rose 0.1 per cent to 3,987.48 at the close. The gauge rose 1.5 per cent over the past three days. Christmas is not a public holiday in China. The Shanghai Composite Index also gained 0.1 per cent. Technology and telecoms firms emerged as the best performers among the 10 industrial groups in the CSI 300, while utilities and energy stocks underperformed. Chinese stocks have been rangebound over the past two months, as traders have been waiting for the effective implementation of the government’s stimulus measures. Investors expect Beijing to deliver mor

China’s CATL introduces EV chassis designed to survive high-speed collisions.

24Dec

By Nectar GanNo Comments

China’s CATL introduces EV chassis designed to survive high-speed collisions.

China’s Contemporary Amperex Technology (CATL), the world’s largest electric vehicle battery maker, on Tuesday launched a new electric vehicle chassis that it says can withstand a 120km/h (75mph) frontal impact without catching fire or exploding, as it touts safety as a key selling point. The chassis has a battery capable of running for about 1,000km on a single charge and reduces the time required for mass production of a vehicle to 12-18 months from the traditional 36 months or longer, CATL said. The company aims to sell the new EV platform – called “panshi” in Chinese, which translates to “bedrock” – to premium carmakers seeking to accelerate development and reduce costs. “Due to the extremely high crash speed and intensity, there has been no previous instance of any new energ

China International Trade: Yiwu businesspeople: Trade continues with or without tariffs

24Dec

By Nectar GanNo Comments

China International Trade: Yiwu businesspeople: Trade continues with or without tariffs

In eastern China's Yiwu, a city famous for small commodity trades, businesspeople sensed the uncertainties around the new tariff policy of the U.S. and started to prepare for possible challenges. Li Jiaming has more. The Christmas vibe is in full swing in eastern China's Yiwu City. It is known as China's capital of small commodities. Data show that eight out of ten Santa Claus model worldwide are from here. Behind this commercial dominance lie price, product and purchasing ease. YU QIAOFANG Christmas Accessory Vendor "The products here are designed by us. We have competitive price and products. Our goods are sold to over a dozen countries." Shops here, albeit small, sell products to dozens of countries. Due to the nature of the business, small gadgets here are sensitive to the ch...