Economy

Straits Herald January 14, 2020

The United States on Monday removed the currency manipulator label it imposed on China last summer, in a sign of easing tensions between the two economic powers after nearly two years of conflict. Just two days before President Donald Trump is set to sign a “phase one” trade agreement with China, the US Treasury said […]

Straits Herald January 10, 2020

On 10th January 2020, the Malaysian Anti-Corruption Commission (MACC) informed that the leaked audio clips of conversations between disgraced ex-PM of Malaysia, Najib Razak has been handed over to the Malaysian police for further action. Below are two audio clips of Najib speaking to UAE Crown Prince Mohammad Zayed Al Nahyan and one clip of […]

Straits Herald January 6, 2020

The search for victims in the rubble of a collapsed building in southern Cambodia drew to a close Sunday with the final death toll at 36 — the latest tragedy in a string of deadly construction accidents.  Cambodia Prime Minister Hun Sen, said 23 people had been pulled alive from the rubble of the seven-storey […]

Straits Herald January 5, 2020

Indonesia is stepping up sea and aerial patrols of islands near the disputed South China Sea, an official said Saturday, following a diplomatic spat over “trespassing” Chinese vessels. Military aircraft and three warships with some 600 navy, army and air force personnel have been deployed to waters around the Natuna islands, which border the South […]

Straits Herald January 2, 2020

Singapore’s economy, a closely watched barometer for the rest of Asia’s export-driven countries, grew just 0.7 percent last year as the US-China trade war hammered global markets. The city-state has traditionally been the first among Asia’s economies to be affected during a downturn, and the country narrowly escaped tipping into recession in the third quarter. […]

Straits Herald January 1, 2020

China’s central bank announced Wednesday it was cutting the reserve requirements for banks, freeing up about $114 billion to boost lending and spur the slowing economy. The People’s Bank of China will cut the reserve requirement ratio (RRR) on January 6 by 50 basis points, it said in a statement, reducing the amount of cash […]

Straits Herald January 1, 2020

by Douglas Gillison A partial new US-China trade agreement will be signed in the middle of next month, US President Donald Trump said Tuesday, announcing that he will also then travel to China for continued talks. Trump’s tweet, sent moments before Wall Street opened for the year’s final trading day, set a calendar date for […]

Straits Herald December 31, 2019

Membership of the World Trade Organization has benefitted the US and China more than any other nations, a study published Monday found, as the two powers seek to defuse a months-long trade conflict. The Bertelsmann Foundation research showed WTO membership has boosted the US’s gross domestic product by $87 billion in the 25 years since […]

Straits Herald December 23, 2019

Beijing will lower import tariffs on over 850 products including frozen pork from January next year, the finance ministry said Monday, which may help ease the pressure on the country’s depleted pork supply. China has been hit by a severe pork shortage after African Swine Fever tore through the country’s pig herds. More than a […]

Straits Herald December 19, 2019

The president of sanctions-hit Iran called Thursday for Muslim countries to cooperate in fighting US “economic terrorism” at the opening of a summit aimed at tackling the Islamic world’s woes. Hundreds of delegates are attending the gathering in Malaysia — including heads of state and religious leaders — but the meeting has been snubbed by […]

Straits Herald December 19, 2019

The Organisation of Islamic Cooperation (OIC) on Wednesday mounted a veiled attack on a Muslim summit in Malaysia shunned by Saudi Arabia, saying such gatherings would weaken Islam. Leaders of Muslim nations, including Saudi rivals Iran, Turkey and Qatar, will attend the summit this week in Kuala Lumpur, which analysts say is aimed at rivalling […]

Straits Herald December 18, 2019

by Sam Reeves Malaysia will this week host a summit of Muslim leaders billed as a forum to look at the Islamic world’s problems, but it will be closely watched for Middle East power plays and their stance on China’s Uighur minority. Leaders from Iran, Turkey, and Qatar will be among hundreds of delegates attending […]

Straits Herald December 16, 2019

Pictures by Hector Retamal It’s dawn in Xiapu county and sunrise over southeastern China is welcomed by dozens of clicking camera shutters. Locals along this rather isolated stretch of coast in Fujian province have drawn their livelihood from the sea since ancient times. But another thriving industry has emerged as steadily rising incomes put cameras […]

Straits Herald December 10, 2019

Forest fires that raged across Indonesia dented Southeast Asia’s biggest economy to the tune of some $5.2 billion, the World Bank said Wednesday, not including the health impacts from toxic haze that sent air quality plummeting. The fires are an annual problem but this year was the worst since 2015 due to dry weather, with […]

Straits Herald December 2, 2019

Oil prices tumbled Friday on expectations OPEC next week won’t take aggressive action to boost oil prices, while global equities pulled back on trade war worries.  Both the US and European benchmark contracts for oil fell ahead of the December 5 meeting of the Organization of the Petroleum Exporting Countries in Vienna where analysts expect […]

Straits Herald December 1, 2019

Saudi Arabia became the first Arab nation Sunday to take over the G20 presidency as it seeks to bounce back onto the world stage following global uproar over its human rights record. The oil-rich kingdom has promoted a liberalisation drive, including granting greater rights to women, but faced strong criticism over a crackdown on dissent […]

Straits Herald December 1, 2019

by Juliette Michel Could it be the trade war? What about next year’s US presidential election? For famed investor Steve Eisman, the cause of the next recession is up in the air. “It’s too hard to predict at this point,” said Eisman, who anticipated the 2008 financial crisis and served as the basis for Steve […]

Straits Herald November 23, 2019

Adolf Hitler would have been able to put anti-Semitic advertisements on Facebook had the social network existed in the 1930s, according to British comedian and actor Sacha Baron Cohen.  The 48-year-old “Ali G” star singled out the US tech giant during a searing broadside Thursday against social media companies amplifying hatred and violence as part of […]

Straits Herald November 18, 2019

Emirates Airline said Monday it would buy 50 Airbus 350-900 widebody aircraft in a deal worth $16 billion, with delivery to begin in May 2023. “I am happy to announce we are purchasing 50 Airbus 350 for $16 billion,” the carrier’s chairman and CEO Sheikh Ahmed bin Saeed Al-Maktoum told reporters at the Dubai Airshow. […]

Straits Herald November 13, 2019

China’s economy betrayed further signs of strain on Thursday with data showing a sharp slowdown in consumer spending and factory production while investment growth hit a record low as the trade US war takes its toll. The readings are the latest to give a headache to leaders in Beijing, who are battling the tariffs row […]

Straits Herald November 9, 2019

A landmark trade deal between the EU and Singapore, a major hub for European businesses in Asia, will go into effect on November 21, a statement said on Friday. Both sides have praised the deal as a strong rebuke to the rising protectionism that has been championed by US President Donald Trump in Washington. Export […]

Straits Herald November 6, 2019

by Jenny VAUGHAN / Joe Freeman India said Monday it would not join a sprawling Asian trade pact, dealing a blow to the China-backed deal at the end of a Bangkok summit held against a backdrop of global growth fears. The Regional Comprehensive Economic Partnership (RCEP) was meant to account for 30 percent of global […]

Straits Herald November 4, 2019

by Thanaporn Promyamyai / Dene-Hern Chen Southeast Asian leaders meet for a second day in Thailand on Sunday, hoping for a breakthrough in talks over the world’s largest trade deal to help throw off the torpor which has gripped the global economy since the US-China tariff war began. The 10-member Association of Southeast Asian Nations […]