JAKARTA: Indonesia has sealed parts of palm oil and timber concessions owned by 10 companies on Borneo island after a spate of forest fires, authorities said on Thursday, warning those involved in forest burning would be severely punished. Indonesia is under pressure to end slash-and-burn clearance of land, often on
A Spanish businessman has bought a statue symbolising women forced to work in Japanese military brothels which was removed from an exhibition in Japan after organisers received threats over the piece. The “Statue of a Girl Of Peace” symbolises the “comfort women”, a euphemism referring to women, many of them
HONG KONG: Standard Chartered is targeting growing its private banking assets by 50 percent to about $100 billion in three to five years and hire dozens of bankers in Hong Kong and Singapore toward that goal, a senior executive of the lender said. The moves show StanChart has big growth
Industrial growth at 17-year low BEIJING: China’s economy stumbled more sharply than expected in July, with industrial output growth cooling to a more than 17-year low, as the intensifying US trade war took a heavier toll on businesses and consumers. Activity in China has continued to cool despite a flurry
LONDON: Exxon Mobil is considering a sale of its assets in the British North Sea after more than 50 years in the oil and gas basin as it focuses on US shale production and new projects. The world’s largest publicly traded energy company has held talks with a number of
THE HAGUE: Economic growth in the Netherlands unexpectedly held steady in the second quarter at 0.5 percent on a quarterly basis, helped by strong investments, consumer spending and exports, the Dutch national statistics office (CBS) said yesterday. The Dutch economy has outperformed euro zone peers in the past two years,
BERLIN: A slump in exports sent Germany’s economy into reverse in the second quarter, data showed, as its manufacturers bore the brunt of a global slowdown amplified by tariff conflicts and uncertainty over Brexit. Gross domestic product (GDP) fell 0.1 percent quarter-on-quarter, in line with a Reuters poll of analysts,
BENGALURU: Gold prices scaled their highest in more than six years yesterday, as concerns around protests in Hong Kong and an Argentine currency crash amid fears of global economic slowdown, prompted investors to move away from riskier assets. Spot gold rose 0.7 percent to $1,521.98 per ounce as of 0715
NEW DELHI: India’s domestic passenger vehicle sales in July dived at the steepest pace in nearly two decades, an auto industry body said yesterday, as a financing crunch deepened a crisis in the country’s autos sector and triggered large-scale job losses. Sales of passenger vehicles to car dealers plunged 30.9
SINGAPORE: Singapore slashed its full-year economic growth forecast yesterday as global conditions were seen worsening and data confirmed the slowest growth rate in a decade amid mounting fears of recession in the city-state. The government cut its forecast range for gross domestic product in Singapore — often seen as a
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