Sea’s Shopee faces boycott calls in Philippines over brand ambassador

SINGAPORE – Sea Limited’s e-commerce business Shopee faces boycott calls from Philippine consumers after naming a staunch supporter of President Ferdinand Marcos Jr as its brand ambassador. Shopee announced on Thursday that Filipina actress and singer Toni Gonzaga, who hosted campaign rallies for Mr Marcos, was its new brand ambassador. This led to calls on social […]

Singtel’s Optus to pay for new Australian passports for those affected by giant data hack

SYDNEY – Singtel’s Optus will pay to replace passports of Australians caught up in a major cyber attack that saw the telco lose the personal information of millions of current and former customers. Prime Minister Anthony Albanese confirmed that Optus would cough up after demands from the federal government. “Optus has responded to the request that I […]

China factory activity continues to struggle on Covid-19 curbs, property woes

BEIJING – China’s factory activity continued to struggle in September while services slowed, as the country’s economic recovery was challenged by lockdowns in major cities and an ongoing property market downturn. The official manufacturing purchasing managers’ index rose to 50.1 from 49.4 in August, according to a statement from the National Bureau of Statistics (NBS) on […]

China factory activity struggles on Covid-19 curbs, property woes

BEIJING – China’s factory activity continued to struggle in September, while services slowed, as the country’s economic recovery was challenged by lockdowns in major cities and an ongoing property market downturn. The official manufacturing purchasing managers index rose to 50.1 from 49.4 in August, according to a statement from the National Bureau of Statistics on […]

Innovation, collaboration can get global economy out of today’s crisis: Tharman

SINGAPORE – Innovation within and collaboration among nations can ensure that the global economy comes out of the current economic crisis intact, said Senior Minister Tharman Shanmugaratnam on Thursday. Speaking at the Milken Institute’s Asia Summit 2022 at the Four Seasons Hotel, Mr Tharman said there are no quick fixes for the crisis the world […]

US increasingly worried about UK turmoil, working with IMF

WASHINGTON – The Biden administration is alarmed over the market turmoil triggered by the new British government’s economic programme and is seeking ways to encourage Prime Minister Liz Truss’ team to dial back its dramatic tax cuts. Officials inside the US Treasury Department are concerned about the volatility in financial markets and potential spillovers to the […]

Sustainable work conditions as important as sustainable growth: MAS chief

SINGAPORE – The concept of sustainability goes beyond climate change and runs through the whole gamut of policies that ensure economic stability, said the managing director of the Monetary Authority of Singapore. Speaking at a virtual conference on Wednesday, Mr Ravi Menon said sustainable use of resources is key to reversing the negative impacts of […]

Fed officials stare down volatile markets, say inflation remains top focus

WASHINGTON – United States Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping US stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. “There are interactions there,” Cleveland Fed President Loretta Mester said, noting that financial market volatility can affect investor decisions and the value of […]

LinkedIn’s social experiments on 20 million users may have affected livelihoods: Study

NEW YORK – LinkedIn ran experiments on more than 20 million users over five years that, while intended to improve how the platform worked for members, could have affected some people’s livelihoods, according to a new study. In experiments conducted around the world from 2015 to 2019, LinkedIn randomly varied the proportion of weak and […]