Business – The Singapore Post

USA: China passes new sanction which targets US

26Jul

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USA: China passes new sanction which targets US

Washington, US: US has imposed penalties on Hong Kong in response to which China has targeted many US individuals and entities by imposing sanction on Anti-Foreign Sanction law Hours after the latest sanctions announced by China targeting several American citizens, the US said it is "undeterred" and added that it is "fully committed" to implementing all relevant Washington sanctions authorities. China on Friday imposed sanctions on seven US individuals and entity, under Anti-Foreign Sanctions Law, in response to the US penalties imposed on the Hong Kong officials over the crackdown on democracy in the semi-autonomous region. Reacting to it, White House press secretary Jen Psaki said that these actions are the latest examples of "how Beijing punishes private citizens, companies an...

South Africa calls up army reserves in bid to crush looting

26Jul

By Desk TeamNo Comments

Business, World

South Africa calls up army reserves in bid to crush looting

South Africa calls up army reserves in bid to crush looting Reinforcements: Troops stand guard outside the Chris Hani shopping mall in Vosloorus on the outskirts of Johannesburg. JOHANNESBURG - South Africa mustered its army reserves on Thursday in a bid to quell looting that has stoked fears of shortages and dealt a crippling blow to its already battered economy. "All reserve members are to report for duty at first light tomorrow morning 15 July 2021 at their respective units," army chief Lieutenant-General Lawrence Mbatha said in orders issued overnight as the unrest entered its sixth day. Soldiers should "report ready with their necessary equipment," the defence ministry said in a statement. On Wednesday, the government said it would call out around 25,000 troops to tackle the emer...

Booming autos exports help plug gaping tourism hole

25Jul

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Business, World

Booming autos exports help plug gaping tourism hole

Booming autos exports help plug gaping tourism hole Employees work at an assembly line in the Toyota manufacturing plant located in Chachoengsao. (Reuters file photo) As tourism-reliant Thailand struggles with a collapse in foreign visitors, the country's auto sector is picking up some of the slack with the value of car exports tipped to surge to a record this year as the global economy reopens. As tourism-reliant Thailand struggles with a collapse in foreign visitors, the country's auto sector is picking up some of the slack with the value of car exports tipped to surge to a record this year as the global economy reopens. The Southeast Asian nation is Asia's second-most popular tourist destination but its famous beaches, street markets and pagodas have been starved of business over th...

The Latest: COVID-19 cluster worsens in Australian city

23Jul

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Business, China, World

The Latest: COVID-19 cluster worsens in Australian city

SYDNEY, Australia — A state government minister has been infected with COVID-19 and another minister is in isolation as a cluster in the Australian city of Sydney worsens. New South Wales Agriculture Minister Adam Marshall said he was told on Thursday that he had tested positive after dining with three government colleagues on Monday at a Sydney restaurant after an infected diner. All four lawmakers had been attending Parliament as recently as Tuesday. Health Minister Brad Hazard said he was self-isolating after being exposed to a potential case at Parliament House. Hazzard said while standing next to Premier Gladys Berejiklian at daily pandemic media briefings, that he thought she was “fairly safe.” Pandemic restrictions tightened in Sydney on Thursday as a cluster of the Delta varia

23Jul

By Desk TeamNo Comments

Business, China, World

Why China is hobbling its tech sector

Why China is hobbling its tech sector Beijing has launched a withering and very public assault on some of China's biggest tech names. BEIJING: Scuttled listings and share prices hammered by official threats: Beijing has launched a withering and very public assault on some of China's biggest tech names. The travails of ride-hailing giant Didi Chuxing this week carried a cautionary tale for digital big hitters: what goes up, can come down... and fast. Days after a New York IPO that raised $4.4 billion, Didi's app was banned from stores in its vast Chinese market over data collection issues, prompting shares to tank and lawsuits from furious investors. Similar cybersecurity investigations were announced on platforms of two more US-listed Chinese firms a day later. Motivated by monopoly ...

Ethiopia regions send troops to back fight with Tigray rebels

23Jul

By Desk TeamNo Comments

Business, Conflict, World

Ethiopia regions send troops to back fight with Tigray rebels

Ethiopia regions send troops to back fight with Tigray rebels Members of the Amhara militia in Ethiopia have mobilised en masse. DIS ABABA - Three Ethiopian regions previously untouched by the war in Tigray confirmed Thursday they were deploying forces to back military operations there, signalling a potential widening of the conflict. The reinforcements are coming from Oromia -- Ethiopia's largest region -- as well as the Sidama and Southern Nations, Nationalities and Peoples' (SNNP) region. The mobilisation follows Prime Minister Abiy Ahmed's warning Wednesday that his forces would repel any attacks by its enemies, effectively tearing up a government-declared ceasefire on June 28. "Oromia and Sidama regional special forces have moved towards the front line. The Sidama special forces ...

22Jul

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Business, World

Intercity bus industry looks to rebound

(Editor’s note: This story was first published on July 13, 2021. This version corrects details on the bus coalition .) THUNDER BAY — When Kasper Wabinski added a coach/bus line to his aviation business to help move passengers “up north” through inclement weather, little did he know he would be on the cusp of developing a plan for a potential transportation service across the entire country. Wabinski owned and operated Kasper Air with two aircraft that flew passengers into Northwestern Ontario’s far north communities. His newly added bus line improved his service with an inevitable expansion on the horizon. “We managed to create a small company with two routes that were licensed within the first year and we grew it from there,” he said. As closing bus companies made routes available, Wa

20Jul

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Business, Conflict, World

Far South emergency ‘must end’

A motorist drives through a security checkpoint set up along a road in Pattani, where many roads in areas which are prone to unrest are under heavy surveillance. Pornprom Satrabhaya Academics, legal experts and rights activists are calling on the government to lift the Emergency Decree which it had put in place to control the southern insurgency and Covid-19 crisis, saying the tough law is being misused to quash dissent despite it having little effect on controlling Covid-19 transmission as well as the simmering conflict in the South. The call to end the Emergency Decree's enforcement was reiterated in an online public discussion titled "16 Years of the Emergency Decree: From the Southern Border Provinces to Covid-19", which was organised by Asean Parliamentarians for Human Rights, along...

Eye on China, Biden and Germanys eye on China

20Jul

By News DeskNo Comments

Business, China, World

Eye on China, Biden and Germanys eye on China

Washington, US: Aiming towards China, the US President Joe Biden and German Chancellor Angela Merkel stressed the importance of standing up for democratic values and human rights in the context of China. “We are countries who stand up for free, democratic societies,” Merkel said. “Wherever human rights are not guaranteed, we will make our voices heard.”Meanwhile, Biden said: “We will stand up for democratic principles and universal rights when we see China or any other country working to undermine free and open societies… we are united in our commitment to addressing democratic backsliding, corruption, phoney populism.” According to New York Times, the two leaders had a 50-minute meeting at the White House and the two leaders discussed several of the most pressing geopolitical prioriti

Mega project restarted in 2019 again stopped with mutual consents of the parties

19Jul

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Business, China, Singapore, World

Mega project restarted in 2019 again stopped with mutual consents of the parties

KUALA LUMPUR – Somehow begun $2.4 million mega project again came to an end when the parties involved in the project mutually decided to stop the project. The agreement on a RM7.41 billion ringgit (S$2.4 billion) acquisition for 60 per cent equity in the Bandar Malaysia mixed commercial project by IWH and its partner China Railway Engineering Corp (CREC) lapsed on May 6 after a failure to meet conditions, the statement issued on Wednesday (July 14) said. Bandar Malaysia was due to house the terminal for the now-scrapped high-speed rail link between Kuala Lumpur and Singapore. The project, owned by TRX City, a subsidiary of the Ministry of Finance, was initially announced in 2011, cancelled in 2017 and reinstated in April, 2019. The statement said parties had been w

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