Attitudes towards business failures changing for better

SINGAPORE – The impact of the Covid-19 pandemic on economies and companies is well documented. Besides causing massive job losses around the world, it has hit the bottom line and balance sheet of companies, causing mounting corporate debt and other liabilities. Insolvency cases and corporate distress have risen to their highest levels since the 1997 Asian financial crisis. Please subscribe […]

Read more

China's factory activity expands at fastest pace in over three years

BEIJING (REUTERS) – China’s factory activity expanded at the fastest pace in more than three years in November, keeping it on track to be the first major economy to fully recover from the coronavirus crisis. The official manufacturing Purchasing Manager’s Index (PMI) rose to 52.1 in November from 51.4 in October, data from the National Bureau of Statistics showed on […]

Read more

Japan's factory output rises for fifth month, retail sales jump

TOKYO (REUTERS) – Japan’s industrial output rose for the fifth straight month in October, fuelled by stronger machinery and car production, suggesting the economic is recovering further from the damage caused by the Covid-19 crisis. The world’s third-largest economy rebounded sharply in the third quarter from a pandemic-induced slump, thanks to a record surge in private consumption and stronger overseas […]

Read more

More firms tipped to close in coming months, say experts

Despite a recent uptrend in business formations in Singapore, entity closures are also expected to rise in the coming months, experts told The Sunday Times. Around 35,400 were deregistered between January and October – lower than the average of 41,100 seen over the same 10-month period between 2015 and last year, according to data from the Accounting and Corporate Regulatory […]

Read more

UPDATE 2-Fitch downgrades Sri Lanka on rising default risk

(Adds context, fund manager comment, graphic) LONDON, Nov 27 (Reuters) – Fitch downgraded Sri Lanka’s sovereign credit rating to “CCC” on Friday, warning the country’s debt levels were set to soar past 100% of GDP and that it was increasingly at risk of default. Sri Lanka relies on tourism and garment exports for foreign exchange reserves. It’s been hit hard […]

Read more

UPDATE 1-Euro zone yields stay low on ECB stimulus expectations

* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds comments, latest news, chart and updates prices) LONDON, Nov 27 (Reuters) – German 10-year Bund yields traded near two-week lows on Friday amid expectations for further monetary stimulus from the European Central Bank, while Portugal’s 10-year government bond yields were close to breaking below zero. The ECB signalled in October it […]

Read more

Going green will mean $1.35 trillion in opportunities for Asean economies: Report

SINGAPORE – Going green could bring up to US$1 trillion (S$1.35 trillion) in annual economic benefits to South-east Asian economies by 2030, a report by global management consulting firm Bain and Company said on Thursday (Nov 26). Greater investments in renewable energy, reduced consumption and better waste management, less damaging crop growing practices and improved urban planning are among the […]

Read more

UPDATE 1-Portugal 10-year bond yield nears 0% as periphery cheers brighter world sentiment

* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Recasts to lead with Portugal and Italy) LONDON, Nov 25 (Reuters) – Italian and Portuguese bond yields hit fresh record lows on Wednesday, with Portugal’s 10-year yield in striking distance of negative territory as upbeat sentiment globally provided another incentive to pile into Europe’s lower rated bond markets. World shares rallied to […]

Read more

Yellen has the policy chops and political savvy for US Treasury secretary

WASHINGTON (BLOOMBERG) – Janet Yellen knows a deep recession and a patchy recovery from the inside. She’ll need all that policy prowess and a healthy dollop of political savvy to steer the US, and by default the rest of the world, through this epic slowdown. The former Federal Reserve chair is Joe Biden’s pick for Treasury secretary, according to people […]

Read more

Singapore retailers' reliance on local demand may not be sustainable: Survey

SINGAPORE (THE BUSINESS TIMES) – Despite the pandemic, about one in two retailers in Singapore still experienced higher sales from September to October this year than last year, but banking on local demand may not be sustainable. That is according to an American Express survey released on Monday (Nov 23), of 300 small and medium enterprises (SMEs) in Singapore with […]

Read more
1 2 3 73