container shipping
Economy

Shipping Investment Firm Executive Believes Easing COVID Cases in China Might Lead Container Shipping to Rebound by Late April

Tim Huxley, the founder of Mandarin Shipping, said on Monday that the decreasing number of COVID cases in China might lead the container shipping industry to witness a “very strong” rebound by late April.

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Markets

commercial chicken farming
Markets

‘Chicken-rice crisis’ as Malaysian export ban affects Singapore’s national dish

The ban is expected to have a significant impact on Singaporeans, not least because chicken-rice is the city-de state’s facto national dish, and aficionados say substituting frozen meat for fresh will not suffice.

OPEC urged to increase exports
Markets

G7 Urges OPEC to Increase Output to Cool the Oil Market

G7 energy ministers have urged the Opec group of oil-producing countries to pump more oil as Russia’s war in Ukraine drives crude prices to a decade high.

Malaysian Currency Ringgit
Markets

Singapore Dollar Reaches a New High Versus Malaysian Ringgit

On Monday (May 23), the Singapore dollar resumed its ascent against the Malaysian currency. It reached an all-time high versus the ringgit. The Singapore dollar hit a new high of RM3.1964 because of Singdollar strength, before retreating to RM3.1950.

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Business

IPO Deals Falling as Omicron Cases Soar in Hong Kong and China

According to data from consultancy EY, the number of public offerings in Greater China declined dramatically in the first quarter of this year. However, the market still outperformed other worldwide markets.

Electric cars
Business

China’s Electric Vehicle Stocks Fall as Perfect Storm Hits Industry

China’s EV (Electric Vehicle) stocks are hit by a perfect storm, resulting in a sharp drop in Asia Financial’s China Electric Vehicles index this year. The index constituting 14 leading Chinese electric vehicle manufacturers has dropped 26.1% in 2022. It has decreased by 13% in March.

Crypto

Business

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Tik-Tok Parent Company Byte Dance, Reaping Profits on Mobile Gaming Expansion

With expenditure on its mobile games increasing over the past year, Chinese internet giant ByteDance’s fledgling entry into the gaming market is showing promise as it seeks to compete with competitors Tencent and NetEase.

Forever-21-fashion-brand-store
Forever 21 Makes Third Attempt at China with New Physical Store

Forever 21, an American fast fashion company, is making its third push into China, with plans to build a physical store there later in the month.

funding round
Tencent and Block Support Indonesian fintech platform Flip with a $55 million Series B Extension

Flip, a consumer payment platform based in Indonesia, has closed a $55 million Series B extension round led by Tencent, with participation from Block (formerly known as Square) and existing backer Insight Partners.

Economy

computer parts semiconductors manufacturing in Singapore
Singapore’s Manufacturing Output Increased by 13.8% in May Due to Robust Demand for Semiconductors

Singapore’s manufacturing output increased 13.8 per cent year-on-year in May, backed by high demand for semiconductors in the midst of the worldwide chip shortage.

Indian_Currency_Rupee
India Seeks to Keep its FY2023 Fiscal Deficit at Previous Level

According to authorities, India’s government won’t be able to close the budget deficit this fiscal year as had been anticipated. Instead, it will try to keep it at last year’s level to prevent a significant decline in the nation’s finances.

Steel mill industry
Demand Slumps in China’s Steel Mill Industry

Steel mill owners in parts of China are unhappy, according to commodities consultant Simon Wu in Beijing.