India outlines $13.7 billion plan to woo global chip makers

NEW DELHI (REUTERS) – India has approved a US$10 billion (S$13.7 billion) incentive plan to attract semiconductor and display manufacturers, its technology minister said on Wednesday (Dec 15), as part of a deepening push to establish the country as a

Australian dollar is finally snapping run of losses against the yen

SINGAPORE (BLOOMBERG) – The Australian dollar appears poised to extend gains against the yen as expectations of faster economic recovery gain traction and fears around the omicron variant ease. The Aussie, which advanced 3 per cent last week to over

Consumer inflation hits highest pace in 38 years in metro Denver

Metro Denver consumer prices are inflating at the fastest rate since 1983, putting a squeeze on household budgets that will be harder to escape, according to a bimonthly update from the U.S. Bureau of Labor Statistics on Friday. The Consumer

Apple's iPhone 13 production fell 20% in Sept-Oct: Nikkei

TOKYO (BLOOMBERG) – Production of Apple’s flagship iPhone 13 smartphones fell 20 per cent short of previous plans in September and October, Nikkei reported on Wednesday (Dec 8), citing sources familiar with the matter. The holiday quarter is one of

Omicron poses risks to global economic growth, inflation: Rating agencies

LONDON (REUTERS, BLOOMBERG) – The Omicron Covid-19 variant could hurt global growth prospects while also pushing prices higher, rating agencies Fitch Ratings and Moody’s Investors Service said, after the World Health Organization said the variant carried a very high risk

China central bank adviser warns about 'quasi-stagflation' risk

BEIJING (BLOOMBERG) – China’s economy could enter a period of “quasi-stagflation” with relatively slow growth and excessively high producer-price inflation, said Liu Shijin, an adviser to the nation’s central bank. Such a scenario is “very likely” if demand remains weak,

The $6.8 billion hoard of metal the world covets but can't have

LONDON/HANOI (BLOOMBERG) – On an industrial park about an hour’s drive toward the South China Sea coast from Ho Chi Minh City sit giant mounds of raw metal shrouded in black tarpaulin. Stretching a kilometre in length, the much-coveted hoard