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 […]
Month: May 2020
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 […]
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 […]
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 […]
Hong Kong Airport, Zoom results, and Tiananmen anniversary
Welcome to Nikkei Asian Preview. This week will be a tense one in Asia, following China’s controversial decision extending its national security law to Hong Kong, and President Donald Trump’s announcement that the U.S. will eliminate Hong Kong’s special status privileges in retaliation. The diplomatic standoff over Beijing’s crackdown on dissent […]
Post-coronavirus fate differs among Shenzhen tech startups
GUANGZHOU/TOKYO — Tech startups in Shenzhen, known as China’s Silicon Valley, are set to experience a range of outcomes as the novel coronavirus pandemic appears to near its end, with some seeing their businesses thrive while others face headwinds following significantly reduced investment. The companies that are emerging strong from […]
Japan’s judicial diplomacy at crossroads as Laos enacts civil code
TOKYO — A quarter-century of Japanese “judicial diplomacy” is bearing fruit in Southeast Asia. On May 27, Laos became the third country in Southeast Asia, after Vietnam and Cambodia, to introduce a civil code with Japanese support. Japan’s long-term engagement on the topic has resulted in it being allowed for […]
Questor: in a nation of hygiene addicts McBride should be cleaning up
It seems clear that the cleaning bug will benefit McBride going into its 2021 financial year, but there is little upside to be found in the forecast numbers. Investors are waiting to see what Mr De Mot, who ran ArcelorMittal’s Canadian mining outpost, might do with the business before formulating […]
Japan’s Kubota ties up with Indian peer to make tractors for Africa
OSAKA — Top Japanese farm equipment manufacturer Kubota is teaming up with Indian peer Escorts to produce cheap machinery for sale in developing countries. Kubota and Escorts, India’s third largest farm equipment maker, have agreed to create a new brand, “E Kubota,” under which they will market tractors in Eastern […]
Bangladesh goes to bat for textile industry as buyers scrap orders
DHAKA — With the coronavirus pandemic pummeling Bangladesh’s textile industry, a two-pronged campaign is underway to salvage the country’s biggest export earner by cajoling big Western clothing retailers to honor previous purchase commitments. The U.K.’s Edinburgh Woolen Mills Group, whose key brands include Peacocks, Jaeger, Bonmarche, and Austin Reed, has […]