Focus on robust supply chains set to continue post-pandemic

The need for more agile and resilient supply chains will remain a focus for companies at home and across the world even in the post-coronavirus era. Companies were sent scrambling when the pandemic exposed the lack of a robust system that could ensure continuous supply of raw material to factories and finished products to end consumers. After more than two […]

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Australian economy forecast to rebound in 2021 as pandemic subsides: Poll

BENGALURU (REUTERS) – Australia’s economy, which entered 2021 in better shape than most of its peers, will gain further momentum from the successful domestic suppression of the coronavirus pandemic and supportive policies, according to a Reuters poll of economists. Coronavirus-led lockdowns that began in March last year tipped the economy into its first recession since the early 1990s, breaking one […]

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Hopes fade for turnaround in rupee, Asia's worst-performing currency in 2020

MUMBAI (BLOOMBERG) – Bets on the Indian rupee’s rebound this year are already facing headwinds. The Reserve Bank of India signaled recently it won’t relent on US dollar purchases that pushed the currency to the bottom of Asia’s currency rankings in 2020. Analysts had forecast for the rupee to rise for the first time in four years on hopes the […]

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Japan exports post first annual gain in two years in December

TOKYO (REUTERS) – Japan’s exports rose for the first time in two years in December on the back of shipments to China, government data showed, offering a glimmer of hope for policymakers counting on an export-led recovery amid a resurgence of the coronavirus. A recovery in exports may ease the risk of a double-dip recession, while the Bank of Japan […]

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South Korea January 1-20 exports expand 10.6%, sharper than in December

SEOUL (REUTERS) – South Korean exports grew at a much sharper pace in the first 20 days of January, customs agency data showed on Thursday (Jan 21). Outbound shipments increased 10.6 per cent year-on-year for the period versus a gain of 1.2 per cent in the comparable period of December 2020. A breakdown of data showed overseas sales of semiconductors […]

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Singapore is second most preferred city for cross-border investments: Survey

SINGAPORE – Singapore is the second most preferred city for cross-border investments this year, a study noted on Wednesday (Jan 20). It also cited logistics as the most popular sector for investors, while interest in the office sector has weakened. The findings come as the Economic Development Board reported that Singapore attracted about $17.2 billion in fixed asset investments last […]

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China's top financial watchdog blasts 'state monopoly' accusation

BEIJING (BLOOMBERG) – China’s top financial regulator dismissed claims the nation is distorting its economy through “state monopoly capitalism” as pressure grows on China to align more with global trade rules. Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said the accusations are a big “misunderstanding” of how its economy operates. Private companies contribute about 60 per […]

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Goldman lifts US forecast on Biden's US$1.9 trillion rescue plan

NEW YORK (BLOOMBERG) – Goldman Sachs Group economists raised their growth forecasts for the US this year and beyond after President-elect Joe Biden unveiled a sweeping revival plan calling for US$1.9 trillion (S$2.5 trillion) in spending. In a weekend report to clients, economists led by Jan Hatzius predicted the economy would expand 6.6 per cent this year, faster than the […]

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