Let’s get you up to speed with the day’s stories. A man sustained minor injuries after a landslide occurred at a construction site for Build-to-Order (BTO) flats in Clementi. No other injuries were reported. Affected sections of the park connector have been cordoned off by the Housing and Development BoardContinue Reading
In another step aimed at stifling China’s technological advance, the US Department of Commerce has decided to restrict shipments of advanced graphics processing units (GPUs) designed by American companies NVIDIA and AMD to China. The US government says it is worried about potential military applications of these products. GPUs are a type of integrated circuit […]
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Taiwanese prosecutors on Sept 2 indicted nine suspects on human trafficking charges for allegedly luring 88 people to Cambodia to toil in online scam syndicates that have become a regional scourge. Read full storyContinue Reading
TOKYO – Naturally, US Federal Reserve officials act with the best interest of the American economy in mind. Yet the actions of US Fed Chairman Jerome Powell and his team are playing into China’s hands in unexpected and impactful ways.
Case in point: The outperformance of China’s sovereign bonds, which in August grabbed the top spot in global performance rankings.
The immediate explanation is a widening policy divergence between the Fed and the People’s Bank of China (PBOC). But between the lines are growing indications that the trajectory of Fed interest rates may be a short-term positive but a long-term negative.
Right now, the Fed’s war on inflation is sending the dollar soaring at the worst possible moment for economies from Latin America to Europe to Asia.
The yen’s transcending 140 to the dollar for the first time since 1998 is the most recent ominous milestone. That follows the euro’s return to 20-year lows. This chaos isn’t confined to the top-three currencies, as evidenced by the Indian rupee about to hit 80 to the dollar.
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Fines for traffic offences will increase, with penalties for speeding or failing to stop at pedestrian crossings rising four-fold to 4,000 baht, when the amended Land Traffic Act comes into force on Monday, Sept 5.Continue Reading
The 201 men and 124 women are aged between 16 and 86.Continue Reading
Teesta Setalvad’s arrest on charges of fabricating evidence was widely condemned by global rights groups.Continue Reading
Kla Party leader and former finance minister Korn Chatikavanij is jumping ship to join the Chart Pattana Party, leaving his own party rudderless as they prepare for the coming general election.Continue Reading
When fully completed in June next year, the Jakarta-Bandung fast-trains will be the first high-speed rail link in Southeast Asia. Continue Reading
In the latest blow to Australia’s ambitious plans to acquire nuclear-powered submarines, overstretched US and UK shipyards may not be able to supply Canberra with the boats within the decade as outlined in the three sides’ AUKUS agreement, according to reports in late August. At a recent Mitchell Institute for Aerospace Studies seminar, US Navy […]
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