Month: May 2020

Malaysia, Singapore defer high-speed rail project until year-end

KUALA LUMPUR (Reuters) — Malaysia and neighbouring Singapore said on Sunday they had agreed to suspend until Dec. 31 a high-speed rail (HSR) project between Malaysia’s capital, Kuala Lumpur, and the city-state, to allow discussion of changes.

Analysts estimate the project, first announced by both nations in 2013, will cost about $17 billion, though the two have tried to renegotiate the terms of an initial pact.

“The government of Malaysia and the government of Singapore have agreed to resume discussions on the Kuala Lumpur-Singapore high speed rail infrastructure project in the near future,” said Mohamed Azmin Ali, Malaysia’s minister of

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Coronavirus pandemic fuels Asia e-commerce boom

SINGAPORE — E-commerce retailers across Asia have seen explosive sales growth during the pandemic crisis as consumers under lockdown splurge online.

With brick-and-mortar retail outlets virtually shut out of the market, government enforced lockdowns have also provided an unexpected boost for niche e-commerce platforms that consumers may never have visited otherwise.

Digital advertising solutions provider Criteo said its market research indicated that more than 50% of consumers now had more plans to shop online as a result of the pandemic, compared to just 17% who said they would now make few digital purchases.

“We have seen increased demand for health

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Ministers are in an economic hole so deep they can’t get out

The moment employers are required to pay 20pc of furloughed wages, they’ll start laying off employees. It’s not just that many hospitality firms are not viable as long as social distancing is maintained; many have found they should be able to manage with fewer staff anyway, even if revenues return to normal.

It is perhaps just as well that many of those employed in the sector are from continental Europe. Large numbers of them have already returned to where they came from, with no intention of coming back; almost laughably as Britain prepares to leave the European Union, the UK

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The Big Four accounting firms feel the pinch as businesses take stock

Still, auditors have garnered more than their share of unwanted attention after a string of scandals, company collapses and fines from regulators.

The FRC has nine ongoing investigations into audits by the Big Four.

The exit this month of the watchdog’s chairman, Simon Dingemans, over a conflict between his part-time job at the FRC and his ambition to hold other private sector positions, has added to questions over whether the quest to reform the industry could stall.

Dingemans wanted the Big Four to partially split their audit operations from the rest of the business to increase transparency and improve independence.

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