Singapore – Page 4 – The Singapore Post

4Oct

By Desk TeamNo Comments

Energy crossroads

Asian countries are taking big steps toward green goals, but huge energy appetites will be fed mainly by fossil fuels in the near term. A solar plant in Tay Ninh, Vietnam is among the many renewable power projects developed by Thailand-based B.Grimm Power Plc. Supplied/B.Grimm Power The coronavirus pandemic has taken a huge toll on nearly all forms of economic activity and the energy sector is no exception. Mobility restrictions and lockdowns have put energy resilience to the test as demand plunges and many projects come to a standstill. The oil and gas sectors were hit particularly hard, with the price of oil nosediving, stalling exploration and hurting production. Prices have since recovered but new challenges are emerging. Most notably, exploration firms are questioning the longer-te...

China neighbours worry Australia sub deal will destabilise region

3Oct

By Desk TeamNo Comments

China, Opinion, Politics, Singapore, World

China neighbours worry Australia sub deal will destabilise region

China neighbours worry Australia sub deal will destabilise region A file photo taken on May 2, 2018 shows French President Emmanuel Macron (second left) and Australian Prime Minister Malcolm Turnbull (centre) standing on the deck of HMAS Waller, a Collins-class submarine operated by the Royal Australian Navy, at Garden Island in Sydney. (AFP) France isn’t the only country upset about a new security pact between the US, UK and Australia: Some Southeast Asian nations are also worried the partnership could provoke China and spur a regional arms race. The so-called AUKUS partnership, which will help Australia acquire nuclear-powered submarines, prompted China last week to warn of an arms race in a region riven by maritime territorial disputes. Since then, two key members of the Association

2Oct

By Desk TeamNo Comments

Singapore, World

Bangkok set for November reopening

A child stands near health workers at the airport, as Phuket reopens to overseas tourists, allowing foreigners fully vaccinated against the coronavirus disease to visit the resort island without quarantine, in Phuket on July 1 this year. (Reuters photo) Thailand is set to reopen more of its popular tourist destinations starting next month, betting that a higher local inoculation rate can help draw more foreign visitors and revive an economy battered by the pandemic. The reopening of Chiang Mai (Muang, Mae Rim, Mae Tang and Doi Tao districts), as well as beach resorts Pattaya, Cha-Am and Hua Hin, from Oct 1 will be modelled after an initiative to bring back vaccinated tourists to Phuket, according to Tourism Minister Phiphat Ratchakitprakarn. The plan will be proposed to the Centre for C...

An assessment on China’s intentions to join the CPTPP

2Oct

By Stuart WhiteNo Comments

Business, China, Conflict, Opinion, Singapore, World

An assessment on China’s intentions to join the CPTPP

China’s decision to join the CPTPP was pre-planned. Since it coincided with the announcement of AUKUS it became strategic as well. China has much to gain both economically, politically, and domestically by joining the CPTPP. China has chosen an appropriate time to join the format as currently the 20 group of obligations under the CPTPP are suspended. This suspension is stopping the format to become a FTA 2.0, which China does not find suitable for itself due to its own track record such as of giving subsidies to State-owned enterprises and intellectual property rights. If China joins at this juncture, it will be able to stall these 20 groups of obligations and mould the format to make it a RCEP kind of a regional FTA. Through this format, China will also try and readjust regional supp

2Oct

By Desk TeamNo Comments

Business, Singapore, World

Disease law set for change

Teenagers are vaccinated against Covid-19 at Vachira Hospital in Bangkok on Tuesday. (Photo: Pattarapong Chatpattarasill) The cabinet has approved a draft amendment to the 2015 Communicable Disease Act, seen as a new mechanism to replace the emergency decree in the country's ongoing battle against Covid-19. The state of emergency, declared under the emergency decree to facilitate the government's outbreak containment efforts, is due to expire at the end of this month when the amended disease control law is expected to be enacted. The Centre for Covid-19 Situation Administration (CCSA), established under Section 7 of the emergency decree, will technically no longer exist if the state of emergency isn't renewed at the end of this month. However, in practice, the CCSA will continue to fun...

Revenue target hiked for foreign film crews

1Oct

By Desk TeamNo Comments

Singapore, World

Revenue target hiked for foreign film crews

International film crews in Thailand could generate 3.2-3.5 billion in revenue, according to the Tourism Department's latest target, after the introduction of an additional 5% incentive to lure more big productions to the country. The Tourism Department has increased its revenue target from foreign film crews to 3.2-3.5 billion baht after launching incentives for big productions in the hope of returning to pre-pandemic levels by next year. "Even though the pandemic poses an obstacle for film shoots, foreign film productions still opt for Thailand as a location," said Anan Wongbenjarat, director-general of the department. As of Aug 31, the country had welcomed 57 international film crews, compared with 141 productions during the same period last year. However, the investment budget incre...

28Sep

By Desk TeamNo Comments

Singapore, World

New digital banking era is nigh

Thailand's financial sector is prepared to enter an era of fully digital banking services thanks to the country's favourable ecosystem, according to the central bank. Ronadol Numnonda, deputy governor for financial institutions stability at the Bank of Thailand, said consumers, banks, regulators and infrastructure are all ready to enter this new paradigm of financial services. He cited the National Statistical Office's report on the ownership and use of ICT in households in 2020, which found internet users rose from 47.5% of the country's population or 29.8 million in 2016, to 77.8% or 49.7 million in 2020. Thais owned a total of 116 million mobile phone numbers as of the end of 2020, according to the Telecommunication Numbering Management Bureau of the National Broadcasting and Telecom...

China seeks to join TPP free trade pact to boost Asia clout

26Sep

By Desk TeamNo Comments

Asia, China, Singapore, World

China seeks to join TPP free trade pact to boost Asia clout

China seeks to join TPP free trade pact to boost Asia clout Officials of the 11 member countries of the Trans-Pacific Partnership free trade accord make a toast after a meeting in Tokyo on Jan. 19, 2019. (Kyodo) BEIJING: China on Friday began in earnest work to advance its application to become a member of the Trans-Pacific Partnership free trade deal, a day after filing a bid to join the pact in an attempt to increase its economic clout in the Asia-Pacific region. Chinese accession would have a significant impact on trade in the region and its bid is aimed at countering moves that the United States and other partners are pursuing to decouple from the Chinese economy. It remains uncertain, though, whether China will be allowed to join the pact. To join the deal, formally known as the C...

Slumping Asian currencies face more risk from slowdown in China

26Sep

By Desk TeamNo Comments

Asia, China, Singapore, World

Slumping Asian currencies face more risk from slowdown in China

Slumping Asian currencies face more risk from slowdown in China Customers are served at a counter at a currency exchange store in Shanghai, China on Aug 8, 2019. (Reuters file photo) From Covid risks to talk of a reduction in US stimulus, there’s been no shortage of bad news for Asian currencies. An upcoming report on China’s manufacturing sector may add to the pressure. Traders are looking to Chinese factory data for clues on the global outlook after the world’s second-largest economy slowed more sharply than expected in July. The nation’s key manufacturing gauge has fallen since April and a slide into contractionary territory could spur a rise in risk-off sentiment and hurt Asian currencies. Regional exchange rates have struggled to navigate the fallout from the pandemic, with the Th

Hong Kong dismisses business pushback over ‘zero-Covid’ strategy

25Sep

By Desk TeamNo Comments

Business, Singapore, World

Hong Kong dismisses business pushback over ‘zero-Covid’ strategy

Hong Kong dismisses business pushback over 'zero-Covid' strategy International companies choose Hong Kong for its regional access, low taxes, legal system and financial services. HONG KONG: Hong Kong's leader doubled down on her zero-Covid strategy on Tuesday, brushing off growing pushback from the business community over the city's indefinite international isolation. The European Chamber of Commerce in Hong Kong wrote a rare open letter to Chief Executive Carrie Lam earlier this month warning that the finance hub's business reputation was at risk and residents were "indefinitely trapped". But Lam said there are no plans to change course, reinforcing concerns that there is no current end in sight to travel restrictions. "Now the most important defence is to prevent importation of case...

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