Day: August 16, 2019

Straits Herald August 16, 2019

Thailand will pour more than $10 billion into the economy, the finance ministry said Friday, as a new government looks to kickstart sputtering growth after five years of junta rule. The once-vibrant Southeast Asian economy sagged after a 2014 coup and growth slowed to 2.8 percent in the first quarter of this year, the first […]

Straits Herald August 16, 2019

The Malaysian economy grew by 4.9% in the second quarter of 2019 The economy recorded a stronger growth of 4.9% in the second quarter (1Q 2019: 4.5%), supported by higher household spending and private investment. On the supply side, the mining sector rebounded, driven mainly by the recovery in natural gas output. Growth in the manufacturing […]

Straits Herald August 16, 2019

Singapore further cut its annual growth forecast on Tuesday as the escalating US-China trade war hammers exports, in another ominous sign for Asia’s trade-reliant economies. The government said it expected growth of 0.0-1.0 percent this year, sharply down from the 1.5-2.5 percent previously estimated, marking the second downward revision this year. The economy expanded 3.2 percent […]

Straits Herald August 16, 2019

A Singaporean firm was charged Thursday with supplying large amounts of alcohol to North Korea in violation of UN sanctions, the latest case of illicit trade between the countries. SINSMS Pte Ltd, an affiliate of a Chinese company, illicitly shipped wines and spirits worth about Sg$665,000 ($480,000) to the North four times in 2016 and […]

Straits Herald August 16, 2019

Malaysia on Thursday renewed the operating licence of a controversial Australian-run rare earths plant for six months despite concerns from green groups about the impact of radioactive waste it produces. Lynas hopes its plant, which has processed rare earths from Australia since 2012, can reduce Chinese dominance in the market for the materials. Rare earth […]

Straits Herald August 16, 2019

China’s economy has grown to dwarf Hong Kong’s since 1997, but the mainland remains deeply dependent on the crisis-stricken city as its primary economic gateway to the world. The global financial hub has been shaken by 10 weeks of pro-democracy protests which could have an impact worse than the 2008 global economic crisis, Hong Kong […]

Straits Herald August 16, 2019

Joseph Tsai, co-founder of Chinese e-commerce giant Alibaba, has made a deal to purchase full control of the NBA’s Brooklyn Nets from Russian businessman Mikhail Prokhorov, the club announced Friday. The Nets said Prokhorov has made an agreement with the Taiwanese-Canadian businessman to sell the Barclays Center arena and his 51 percent controling interest in […]

Straits Herald August 16, 2019

Twitter users will be able to follow a small number of interests by the end of the year in the same way they follow people, the company said Tuesday. The feature will be rolled out internationally as the one-to-many messaging platform prioritizes being an online venue for conversations rather than a pulpit for one-way broadcasting […]

Straits Herald August 16, 2019

Cathay Pacific announced the shock resignation on Friday of its CEO Rupert Hogg, compounding a torrid week for the Hong Kong carrier after it was excoriated by Beijing because some staff supported pro-democracy protests. The 72-year-old airline has been left reeling after it became ensnared in the hardening of rhetoric from the communist mainland over […]