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H&M to move South-east Asia hub to Kuala Lumpur, announces layoffs for 30pc of regional support headcount
SINGAPORE, May 13 – H&M has announced a major restructuring of its Asia-Pacific operations, relocating its South-east Asia regional headquarters from Singapore to Kuala Lumpur and eliminating approximately 30 per cent of its regional support workforce. The changes, formally communicated
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Unrelenting gas prices: India debates strategy as global conflicts hit supply
NEW DELHI, May 12 — India will at some stage need to assess how long state-run fuel retailers can sustain losses from selling transport fuels below market prices, oil minister Hardeep Singh Puri said at an industry event today. Petrol
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Unlikely Iran conflict casualty: Snackmaker Calbee’s packaging now monochrome to conserve ink
TOKYO, May 12 — Japan’s top maker of snacks has landed on a creative solution to conserve oil-derived input materials: it will switch its brightly coloured packaging to black and white. In an eye-catching move, Tokyo-based Calbee on Tuesday said
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South Korea floats AI profit social tax as tech giants boom
SEOUL, May 12 — A top South Korean official has proposed a tax on AI profits to be redistributed among society as a semiconductor boom drives massive earnings for tech giants Samsung Electronics and SK hynix. The two South Korean
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Xi-Trump summit may yield farm deal, but China has limited soybean appetite
BEIJING, May 12 — China and the United States may reach a farm deal at their summit this week that expands Beijing’s purchases of grains and meat, but market watchers said they did not expect major new soybean purchases beyond
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Microsoft boss ‘proud’ of profit-making OpenAI investment
OAKLAND, May 12 — Microsoft CEO Satya Nadella said today he was “very proud” of his company’s profitable early investment in OpenAI, as he took the stand in Elon Musk’s blockbuster lawsuit against the leaders of the AI giant behind
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Oil‑driven inflation lifts China consumer prices but deflation risks persist amid weak demand
BEIJING, May 11 — China’s consumer prices ticked up in April as the cost of crude oil rose globally due to the Iran war, official data showed today. Helped by the surging oil costs, factory gate prices also continued to
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Oil soars as Trump shoots down Iran’s terms and Hormuz disruption fears deepen
TOKYO, May 11 — Oil prices rose in Asian trade today after US President Donald Trump rejected Iran’s terms for ending the war in the Middle East, while stocks were mixed. Trump’s repudiation of Iran’s response to his latest peace
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China, US to hold trade talks in Seoul ahead of Trump–Xi summit in Beijing
BEIJING, May 11 — Senior Chinese and US officials will hold talks in South Korea in the coming days, Beijing’s commerce ministry and Washington’s treasury secretary said yesterday, ahead of an expected summit between leaders Xi Jinping and Donald Trump.
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India shields consumers from fuel hikes as Modi calls for reduced petrol and diesel use amid Middle East supply strain
BENGALURU, May 11 — Prime Minister Narendra Modi yesterday urged the people of India to cut down on petrol and diesel consumption amid supply disruptions due to the Middle East war. India is one of few countries in the region
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