Vietnam 

Energy firms drive VN-Index up for 4th day – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  PV Gas facility. Company shares jumped 3.4 per cent on Tuesday following a boost of oil prices on Monday night. – Photo pvgas.com.vn HÀ NỘI – Vietnamese shares advanced for a fourth straight day as oil and gas stocks were boosted by a jump in oil prices overnight. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0.70 per cent to close at 996.74 points. The VN-Index has rallied total 2.83 per cent in four straight days since last Thursday. More than 231.4 million shares were traded…

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Vietnam 

Ministry to propose credit package to help car companies drive forward – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Thaco car factory in Quảng Nam Province. The MoIT will propose a credit package for developing the support industry for industrial sectors, especially automobile production. Photo nld.com.vn   HÀ NỘI – The Ministry of Industry and Trade will propose to build a credit package of VNĐ100 trillion (US$4.4 billion) for developing the support industry for industrial sectors, especially automobile production. By the end of the year the ministry will submit a project to support and promote automobile manufacturing in Việt Nam. Lê Ngọc Đức, General Director of Hyundai Thành Công,…

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Home 

Trump’s military rare earths drive opens doors for new US mines amid threats of China supply cut

Donald Trump’s directive to boost domestic production of magnets for military equipment with a goal of cutting the US’ heavy reliance on Chinese rare earths and magnets amid the protracted US-China trade war has opened the door for US mining projects seeking funding.The move could spur the re-establishment of an integrated supply chain for the extraction and processing of rare earth metals and their utilisation to make magnets used not only in fighter jets and tanks, but also electric vehicles,… Source link

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US tariffs on imported primates could drive America’s biomedical research laboratories abroad, and that’s no monkey business

The United States could lose its edge in developing treatments for illnesses ranging from Aids and the Ebola virus to malaria and Parkinson’s disease, due to the latest salvo in the escalating US-China trade war, according to a biotech trade group.The Trump administration is set to add a 10 per cent tariff on September 1 on more than US$100 billion of Chinese imports, including clarinets, lacrosse sticks and vodka. One item is of particular concern to researchers: live primates – 80 per cent of… Source link

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Huawei pushes ahead with self-reliance drive with US$1.4 billion R&D centre in Shanghai in spite of US trade restrictions

Huawei Technologies, the world’s largest telecommunications equipment supplier, plans to invest 10 billion yuan (US$1.4 billion) in a new research and development (R&D) centre in Shanghai as China pushes for self-reliance amid intensifying competition with the US in science and technology.The new centre, to be located in Shanghai’s Qingpu district, will focus on R&D in fields including chips for different devices, wireless networks as well as connected device networks known as the Internet of… Source link

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China 

China doubles size of Shanghai Free-Trade Zone to include Tesla town in drive to open markets

China announced new tax incentives and import duty exemptions on Tuesday, as it formally expanded the Shanghai Free-Trade Zone (FTZ) amid rising trade war tensions with the United States.The State Council, the country’s cabinet, unveiled the plan to double the size of the zone by adding Lingang, an area newly reclaimed from the sea.Lingang is roughly the size of the Hong Kong special administrative region and is home to carmaker Tesla’s first factory outside the US.The expansion comes after a… Source link

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Rising odds of Singapore easing may drive yields up, not down

A rapid deterioration in Singapore’s economic data has fuelled speculation the central bank will ease monetary policy. The result may be higher interest rates and bond yields.Bets the Monetary Authority of Singapore will adjust policy have intensified after government reports over the past month showed the economy unexpectedly shrank 3.4 per cent in the second quarter and exports slumped 17.3 per cent in June. The trade-reliant economy has suffered amid escalating tensions between the US and… Source link

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Singapore 

Subscription service Access by BMW lets you drive a BMW from $2,388 a month, Lifestyle, Digital, Singapore News

Access by BMW was launched in Singapore yesterday. It’s one of the island’s first vehicle subscription services. Carro launched a similar service earlier this year. The difference, of course, is that Access by BMW’s only offers BMW cars. Owning a luxury car is woefully expensive in Singapore and it doesn’t help that they depreciate rapidly and incur high maintenance costs. With Access by BMW, all you have to pay is the monthly subscription fee and other daily running costs such as petrol, parking, and ERP fees. BMW takes care of…

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Home 

JD.com adopts AI to drive growth in smaller cities and among female users amid wider e-commerce slowdown

Chinese e-commerce giant JD.com is exploiting artificial intelligence (AI) to help drive online consumption in smaller cities and among female users to help compensate for slowing growth in China’s e-commerce industry amid the uncertain economic climate.Zhou Bowen, head of AI at JD.com, said the company’s AI-powered SnapShop, which allows users to take a photo of a product and provide identical and similar product recommendations, is helping it grow business in smaller cities and among young… Source link

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Singapore 

Man arrested for suspected drink driving after car bursts into flames at Pasir Ris Drive 1, Singapore News

SINGAPORE – A 44-year-old man has been arrested for suspected drink driving after the car he was in crashed into a road divider and subsequently burst into flames on Sunday morning (July 7). Police said they were alerted to an accident involving a car along Pasir Ris Drive 1, towards Punggol Central, at 6.53am. No injuries were reported in the incident. Photos on Telegram group SgRoad Blocks show the car engulfed in flames, with plumes of smoke billowing out of it. The police are investigating the incident. This article was…

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