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Iran tries to unify currency to halt rial’s record slump

Iran tries to unify currency to halt rial’s record slump

The Central Bank of Iran controls an official rate for business traders and companies, and the unregulated market of commercial, Main Street currency vendors and unlicensed dealers has used a higher rate. (Bloomberg pic) TEHRAN: Iran will try to unify its currency starting Tuesday and control sales of the dollar in a bid to stem […]

April 10, 2018 | By | Reply More
Xi vows to further open China economy amid US trade spat

Xi vows to further open China economy amid US trade spat

Chinese President Xi Jinping pledged on Tuesday to lower car tariffs this year and take other steps to further open the world’s number two economy, indirectly addressing major complaints by the United States in a simmering trade row. Chinese President Xi Jinping. (AFP pic) BEIJING: Chinese President Xi Jinping pledged on Tuesday to lower car […]

April 10, 2018 | By | Reply More
Shell’s climate push fails to cut emissions as US plants added

Shell’s climate push fails to cut emissions as US plants added

About half of Shell’s direct emissions came from refineries and chemical plants last year, while 45% were from oil and gas production, and much of the rest from shipping.(Bloomberg pic) SINGAPORE: Royal Dutch Shell Plc is demonstrating how tough it is for a massive, 100-year-old oil company to become a friend to the climate. Shell’s […]

April 10, 2018 | By | Reply More
Fake news adds to cyber risks facing business, UK report says

Fake news adds to cyber risks facing business, UK report says

Newer techniques for mining cryptocurrencies are also on the rise, led by so-called cryptojacking, which exploits visitors to a website to mine the currencies without their consent. (Bloomberg pic) LONDON: Fake news threatens UK businesses with reputational damage as well as falling sales and share prices, adding to the growing risk from cyber attacks facing companies […]

April 10, 2018 | By | Reply More
Global debt jumped to record US$237 trillion last year

Global debt jumped to record US$237 trillion last year

Among mature markets, household debt as a percentage of GDP hit all-time highs in Belgium, Canada, France, Luxembourg, Norway, Sweden and Switzerland. The ratio is now around 317.8% of GDP, or 4 percentage points below the high in the third quarter of 2016, according to the IIF. (Bloomberg pic) WASHINGTON: Global debt rose to a […]

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Toyota’s electric push spurs rush at Yamaha for plug-in know-how

Toyota’s electric push spurs rush at Yamaha for plug-in know-how

Yamaha has supplied high-performance internal-combustion engines for Toyota since 1967’s iconic 2000GT sports coupe. Yamaha needs to be able to provide those engines more quickly, at a lower cost, and to a higher level of quality than Toyota can do in-house if it’s going to remain as a supplier. (Bloomberg pic) IWATA: Yamaha Motor Co. […]

April 10, 2018 | By | Reply More
Alibaba’s Ma challenges Zuckerberg to ‘fix’ Facebook

Alibaba’s Ma challenges Zuckerberg to ‘fix’ Facebook

Ma had commented, “It is the time to fix it. It is the time for the CEO to really take it seriously. I think the problems will be solved.” (Bloomberg pic) HANGZHOU: Jack Ma, the billionaire co-founder of Chinese e-commerce giant Alibaba, urged Mark Zuckerberg to tackle the growing criticism aimed at Facebook Inc. by […]

April 10, 2018 | By | Reply More
LATAM Airlines union to go on indefinite strike Tuesday

LATAM Airlines union to go on indefinite strike Tuesday

The 1,000-strong union plans to start an indefinite strike on Saturday but continued to take part in talks mediated by the government that ended on Monday. LATAM Airlines plane is seen at Santiago International Airport, Chile March 30, 2017. (File pic) SANTIAGO: The Cabin Crew Union of LAN Express, a subsidiary of the Chile-based LATAM […]

April 10, 2018 | By | Reply More
Apple turns green, claiming ‘100% clean energy’

Apple turns green, claiming ‘100% clean energy’

Apple says it has achieved its goal of 100% clean energy for its facilities worldwide. (AFP pic) SAN FRANCISCO: Apple said Monday it had achieved a goal of “100% clean energy” for its facilities around the world. The California tech giant said its retail stores, offices, data centers and co-located facilities in 43 countries were […]

April 9, 2018 | By | Reply More
Singapore uncertainty index climbs as trade war clouds outlook

Singapore uncertainty index climbs as trade war clouds outlook

SINGAPORE: Rising US-China trade tensions are raising alarm bells in export-reliant Singapore, with an index measuring economic uncertainty climbing to a five-month high in March. The Economic Policy Uncertainty Index for Singapore increased to 155 last month from 126 in February, showing the tariff threats are starting to make their mark. Yet there’s still reason […]

April 9, 2018 | By | Reply More