Global 

G20 overshadowed by gloomy mood as world economy turns to central banks to address red warning signs

Central banks are resuming their first-responder role as the world economy runs into trouble even if they lack the firepower they once had at their disposal.With Australia cutting interest rates on Tuesday for the first time in three years and India likely to follow on Thursday, monetary policymakers are again seeking to shore up weak growth and inflation.US Federal Reserve chairman Jerome Powell signalled an openness to loosening if necessary, and European Central Bank officials are poised on… Source link

Read More
Singapore 

PUB’s Hari Raya short film about family ties turns on the water works for netizens, Singapore News

SINGAPORE – A short film by national water agency PUB about cherishing family ties and brotherhoood ahead of Hari Raya Puasa has turned on the water works for many social media users. The six-minute film, titled Kinship, was shared on PUB’s Facebook page and YouTube channel on Thursday (May 30). Since then, it has garnered more than 2,600 likes, 2,700 shares and 240 comments. PUB’s first festive short film tells the story about two orphaned brothers, Din and Zul, who grow up in an orphanage in the 1960s and are…

Read More
Home 

Liu Shiyu, China’s former top securities regulator, turns himself in as part of corruption investigation

China’s former securities watchdog chief Liu Shiyu has become the subject of a graft probe, the country’s super anti-corruption agency said on Sunday.Liu, who left the China Securities Regulatory Commission in a surprise reshuffle in January, was said to have turned himself in and is suspected of violating party discipline and laws, according to a terse statement issued by the National Supervisory Commission. Liu is cooperating with the investigation.Liu, 57, currently heads the All-China… Source link

Read More
Home 

Stocks Blog: Tencent, Alibaba report strong earnings, while Trump turns up heat on Huawei

Good day traders — Lots of overnight news for our markets to digest.  Strong earnings from Tencent (700 HK) and Alibaba (BABA US) last night, though a mix in reaction in US markets afterwards. Alibaba closed up 1.6 per cent, while Tencent ADRs (traded under TCEHY) ended down 1.2 per cent. Meanwhile, US President Donald Trump took aim at the battle over the future of 5G, issuing an executive order that means Huawei can’t do business with American companies without special permission.  So,… Source link

Read More
China 

China turns attention to jobs as trade war casts shadow over economy, with Li Keqiang demanding jobs for graduates, ex-military and more

Chinese Premier Li Keqiang has vowed to mobilise all resources to create jobs and stabilise the employment market as the China-US trade war threatens to drag on the economy.Chairing a national conference on employment in Beijing on Monday, Li demanded that cadres at all levels make job creation their top priority.The premier said priority should be given to fresh graduates, demobilised military personnel and migrant workers, all of whom faced challenges in the job market.“Supporting employment… Source link

Read More
Home 

War on climate change is doomed if China turns back towards the coalface

It seems the battle to curb carbon dioxide emissions and keep global temperatures from spinning out of control is being lost before it has even gained traction. The battle is being fought and lost over coal – in China.  The challenge is less the climate deniers around US President Donald Trump, than the need to protect 4 million Chinese mining jobs and meet surging electricity needs across China and other parts of the world that are short of power. It seems whatever reductions in carbon… Source link

Read More
Singapore 

Sqkii’s $100,000 April Fool’s diamond hunt turns out to be real, Singapore News

Raise your hands if you thought it was a joke. The organiser of island-wide challenge, ‘Hunt the Mouse’, has announced that their April Fool’s diamond hunt is in fact, real.  In a Facebook post on April 1, Sqkii shared that they planned for $100,000 worth of diamonds to be hidden around Singapore for participants to find. Turns out, many took the post for an April Fool’s prank. While some were skeptical about the new challenge, titled #HuntTheDiamond, a subsequent post on April 2 confirmed that their diamond hunt is legit.  Speaking to AsiaOne, Sqkii’s co-founder Kenny Choy said that unlike previous years,…

Read More
Home 

Citi turns to AI for the early work in approval of corporate loans – and chooses Hong Kong for first testing

US banking giant Citigroup has begun tapping artificial intelligence to analyse companies’ financial statements in the approval process for corporate loans – an unusual step because to date AI technology has concentrated on retail consumer loans. Citigroup developed the technology and chose Hong Kong for its first tests. The technology enables computers to scan and read hard copies of clients’ financial statements and automatically calculate indicators such as current ratio and leverage ratio… Source link

Read More
Singapore 

Woman turns Yishun 3-room HDB flat into theatre stage, Singapore News

Be prepared to be transported to another world when you step into New Nyew’s home. Her three-room flat at Yishun Ring Rd is covered in rich textures, interspersed with deep washes of purple and green, and outfitted with plush furnishings. A tasteful touch of gold lends a sense of opulence. Photo: New Nyew Design You’d forget that you’re looking at a three-room HDB flat built in the late 1970s. While many homeowners in Singapore favour clean lines and simple accents, the opposite rings true for bubbly New, who quipped, “Less is not…

Read More