Asia Economy
Southeast Asia’s start-ups have fired hundreds of workers, and this may be just the beginning
Southeast Asia’s tech companies are laying off workers as they brace themselves for a tougher fundraising environment. Guilliermo Perales Gonzalez | E+ | Getty Images Hundreds of workers from start-ups in Southeast Asia have been fired in the last few months, proving that the fast-growing industry is not immune to the global economic slowdown. At […]
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Here’s what China’s e-commerce giants are telling us about the economy
Across five major e-commerce platforms’ GMV, Alibaba’s market share fell by 6% in the first quarter versus the fourth, according to Bernstein analysis. Str | Afp | Getty Images BEIJING — Alibaba was once the poster child for investing in modern China. Now the e-commerce market that fueled its growth is slowing, while new players […]
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This 32-year-old has a toy business worth millions. Here’s how he got his big break with DC Comics
“I’m not the best artist. I’m terrible,” said Jackson Aw with a sheepish laugh. That may seem ironic, given how the 32-year old is the founder and chief executive officer of Mighty Jaxx, a designer toy company from Singapore. But to Aw, acknowledging his own shortcomings has helped him turn his start-up into a multimillion-dollar […]
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China’s electric vehicle battery supply chain shows signs of forced labor, report says
Hundreds of Uyghurs are working for a mining conglomerate that produces raw materials for electric vehicles as part of a so-called work transfer program in China, the New York Times reported. Shen Longquan | Visual China Group | Getty Images Chinese companies that produce raw materials for electric vehicle batteries show indications of using forced […]
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Australia’s leading wine authority to close office in China as exports plunge
Lin Tiangui, a representative of Winston Wine, looks at a bottles of wine produced from Winston Wine’s own Australian winery at one of its stores in Shanghai, China on October 18, 2011. Qilai Shen | Bloomberg | In Pictures | Corbis Historical | Getty Images Australia’s leading wine industry body Wine Australia will be closing […]
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Singapore imports more than 90% of its food. Here’s how it’s dealing with rising food inflation
A rooftop farm in Singapore on May 27, 2020. The small island nation lacks natural resources and imports more than 90% of its food from more than 170 countries and regions. Lauryn Ishak| Bloomberg | Getty Images Singapore is known for its variety of street food and local cuisines, but many may not know it […]
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Full Interview: Emirates president on passenger demand, air travel recovery and soaring inflation
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Emirates President Tim Clark speaks to CNBC’s Dan Murphy about the soaring cost of fuel and the airline’s rebound post-pandemic. Clark says Emirates has seen a “very strong” recovery since summer 2021. Source
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Emirates president says demand remains resilient, unlikley to dissipate in the short term
Emirates President Tim Clark says the company has seen a “very strong” recovery since the summer of 2021. Source
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‘Revenge travel’ is taking place throughout Asia-Pacific, says industry body
Subhas Menon of the Association of Asia Pacific Airlines says that because Asia-Pacific was the region that was closed for the longest period and with the most stringent Covid-19 restrictions, it will take some time before its travel demand returns to pre-pandemic levels. Source
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Jokowi lays out his pitch for why Elon Musk should invest in Indonesia
Elon Musk, here seen at an event in New York in early-May, is being aggressively courted to produce his electric vehicles “end to end” in resource-rich Indonesia. Angela Weiss | AFP | Getty Images President Joko Widodo denied that Indonesia has turned protectionist during his tenure, saying the gates remain open to all players — […]
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