Economy

The future of finance is sustainable

The pandemic has exacted tremendous costs from societies around the globe, but it has also presented the world with an unparalleled opportunity to build back a more sustainable and inclusive economic system. The shift to green is being hastened by a wave of pledges from governments to sharply reduce their carbon footprints. Investors, too, are […]

Economy

Qatar sovereign wealth fund plans Asia push to diversify from Europe, US

DOHA (BLOOMBERG) – Qatar’s sovereign wealth fund is looking east for deals in an effort to diversify an investment portfolio heavily weighted toward North America and Europe. Asia “has been very much on our radar screen,” Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani said in an interview with Bloomberg TV. Sheikh Mohammed is also […]

Economy

China becomes only major economy to avoid Covid-19 recession in 2020

BEIJING (REUTERS) – China’s economy grew at a faster-than-expected pace in the fourth quarter of last year, ending a rough coronavirus-stricken 2020 in remarkably good shape and remained solidly poised to expand further this year. The gross domestic product (GDP) expanded 6.5 per cent, data from the National Bureau of Statistics showed on Monday (Jan […]

Economy

Once again, job losses fall unequally across the U.S. economy

WASHINGTON — Ten months into America’s viral outbreak, low-income workers are still bearing the brunt of job losses — an unusual and harsh feature of the pandemic recession that flattened the economy last spring. In December, the nation shed jobs for the first time since April. Once again, the layoffs were heavily concentrated in the […]

Economy

China services sector expands at a slower pace amid new Covid-19 outbreaks

BEIJING (REUTERS) – China’s services sector activity expanded at a slower pace in December, a private sector survey showed on Wednesday (Jan 6), as sporadic coronavirus outbreaks tempered the recovery in consumer confidence and weighed on new business growth. The Caixin/Markit services Purchasing Managers’ Index (PMI) eased to 56.3, a three-month low, in December from […]

Economy

Singapore retail sales dip 1.9% in November as Singles' Day helps boost recovery

SINGAPORE – The slump in Singapore’s retail sales eased further in November, thanks to various mega sales events such as Singles’ Day and Black Friday as well as new mobile phone launches. Takings at the till declined 1.9 per cent in November, compared with the same month in 2019, a stark improvement from the revised […]

Economy

Colorado small businesses look to pivot to new normal as pandemic continues

When other restaurateurs were using blocked-off streets for outdoor dining to comply with COVID-19 restrictions, Jeff Noffsinger was taking his wine and pizza business on the road. In what could be called a “pivot,” a business-survival strategy that has become a buzzword during the pandemic, Noffsinger contacted various neighborhoods, took orders beforehand and then set […]

Economy

China factory activity expands at slower pace in December

BEIJING (REUTERS) – China’s factory activity expanded in December but at a slower pace, as the country leads a pack of major economies emerging from the coronavirus slump. The official manufacturing Purchasing Manager’s Index (PMI) fell to 51.9 in December from 52.1 in November, data from the National Bureau of Statistics (NBS) showed on Thursday […]

Economy

Colorado economy slipped toward the back of the line in the third quarter

When the pandemic sent the U.S. economy crashing this spring, Colorado handled the blow better than most states. But it has since gone from being a stalwart during the plunge to a laggard in the rebound that followed. Colorado’s economy grew by a robust 30.1% annualized rate in the third quarter, after declining 28.1% in […]

Economy

Singapore, New Zealand digital economy pact to take effect on Jan 7

Singapore (THE BUSINESS TIMES) – Singapore’s digital economy partnership agreement (DEPA) with New Zealand will enter into force on Jan 7 next year. This follows the ratification of the agreement by both countries, said Singapore’s Ministry of Trade and Industry (MTI) in a press statement on Monday (Dec 28). The pact with New Zealand was […]