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Indonesia bets on Bali’s ‘aura’ to build new international financial centre to rival Singapore and Hong Kong
BALI, July 25 — Indonesia is moving to turn its famed resort island of Bali into an international financial centre, with senior adviser Luhut Pandjaitan pitching it as a safe haven for global investors. Luhut, chairman of Indonesia’s National Economic
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From Beethoven to storks, ECB reveals euro redesign, citizens urged to shape currency’s face
FRANKFURT, July 25 — The European Central Bank (ECB) has presented 10 design proposals for a planned new series of euro banknotes and is now asking citizens across Europe to have their say, with an online survey open until September
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EU warns TikTok over child safety lapses, threatens fines under Digital Services Act enforcement
BRUSSELS, July 24 — The European Union on Friday accused TikTok of failing to protect children since their account settings expose them to risks like cyberbullying and predatory behaviour — putting the company at risk of a large fine. The EU
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China opposes fresh US tariffs, warns of renewed trade war
BEIJING, July 24 — Beijing condemned fresh US tariffs imposed on China and 59 other countries over alleged forced labour concerns today, and warned Washington against waging a trade war. The US levies range from 10 to 12.5 per cent,
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World Bank confirms plan to phase out China lending by 2031 as partnership shifts to knowledge sharing
WASHINGTON, July 24 — The World Bank on Thursday confirmed that it plans to phase out its lending to China by 2031, according to the organisation’s new country partnership framework (CPF) for the world’s second-largest economy. AFP first reported that
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Bursa Malaysia slips at opening as oil climbs and Wall Street pullback hits sentiment
KUALA LUMPUR, July 24 — Bursa Malaysia opened lower today, with cautious sentiment expected to remain after yesterday’s regional rally left Asian markets exposed to Wall Street’s overnight pullback. At 9.16 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) retreated
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Oil passes US$100 a barrel again: Why depleted reserves and conflict make this spike more dangerous
PARIS, July 24 — Brent crude went back over US$100 (RM409) a barrel yesterday for the first time since May, as the conflict in the Middle East intensified. This time however, the impact on the world economy could be greater
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Australia calls new US tariffs unjustified and says they ‘should be removed’
SYDNEY, July 24 — Australia’s trade minister decried today new tariffs imposed by close ally the United States, saying it was wrong to target Canberra over forced labour concerns. “These tariffs are unjustified, inconsistent with our free trade agreement, and
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Japan ‘regrets’ US move to impose 10-12.5pc tariffs, urges adherence to last year’s pact
TOKYO, July 24 — Japan “regrets” new US tariffs, the government said today, after Tokyo was included on Washington’s list of trading partners hit with levies ranging from 10 to 12.5 per cent. “Japan’s industry and trade are conducted in
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Brussels slaps Google with US$1b fines, Digital Markets Act delivers biggest blow yet
BRUSSELS, July 23 — The European Union on Thursday slapped Google with fines worth 890 million euros (US$1 billion) in a move that risks escalating tensions with the United States. The EU fined the US giant 460 million euros for
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