Oil prices fell on Monday as worries about a potential US recession, the world’s largest oil consumer, outweighed concerns over escalating tensions in the Middle East that could disrupt supply from the major producing region. Brent crude futures decreased by 4 cents, or 0.1%, settling at $76.77 per barrel. Meanwhile, US West Texas Intermediate (WTI)
Athletes gearing up for the 2024 Olympic Games in Paris face significant financial challenges as they prepare for the pinnacle of their sporting careers. Unlike professionals in other high-level athletic leagues, Olympic hopefuls often shoulder the burden of training and competition costs, with many relying on crowdfunding platforms to finance their journeys. With full-time training
The United States has taken a significant step by revoking certain licenses that permit companies to export goods, including chips, to Huawei Technologies, a sanctioned Chinese telecommunications giant. The move, effective immediately for some companies, follows the recent launch of Huawei’s MateBook X Pro, an AI-enabled laptop featuring Intel’s new Core Ultra 9 processor. This
Amazon has unveiled plans to invest $9 billion in Singapore to bolster its cloud infrastructure in the city-state, announced during the Amazon Web Services (AWS) ASEAN Summit. This move follows the tech giant’s substantial investments in cloud services in Malaysia and Thailand last year. AWS Country Manager Priscilla Chong stated that the investment aims to
Rainco, a stalwart in the umbrella manufacturing industry, has maintained a strong presence for over four decades, evolving from its inception in 1977 to become a global brand while retaining its leadership position in the local market. Dinesh Dharmaratne, Chief Executive of Rainco, discusses the brand’s journey and strategies for growth. Initially focused on umbrella
The Wall Street Journal is making significant changes to its operations in Asia, as announced in a company-wide memo by Editor-in-chief Emma Tucker. The newspaper is shifting its “center of gravity in the region” to Singapore from Hong Kong, leading to staff cuts in the latter. This move reflects a trend seen in many companies
Apple has experienced a 10 percent decline in iPhone sales amidst increasing competition from Chinese rivals like Huawei, leading to a fifth consecutive quarter of revenue decline. The tech giant, headquartered in California, reported a profit of $23.6 billion on $90.8 billion in revenue for the January-March period, with iPhone sales dropping to $45.7 billion.
Microsoft has unveiled plans to invest $2.2 billion in artificial intelligence (AI) and cloud infrastructure in Malaysia, marking a significant step to bolster the country’s digital transformation. The announcement, made by Microsoft CEO Satya Nadella during his visit to Kuala Lumpur as part of a Southeast Asia tour, includes the establishment of an AI Centre
The Indian Government announced on Saturday that it has permitted the export of 99,500 tonnes of onions, primarily sourced from Maharashtra, to six neighbouring countries, despite the existing ban on onion shipments. Additionally, the government has authorized the export of 2,000 tonnes of white onions specifically cultivated for export markets in the Middle East and
Singapore’s food safety authority, the Singapore Food Agency (SFA), recently sent a delegation to Sri Lanka on a four-day mission. This visit aimed to achieve two key objectives: boosting Sri Lankan exports to Singapore and evaluating Sri Lankan facilities for potential poultry imports. Led by Dr. Abdul Jalil Abdul Karder, the SFA delegation conducted pre-inspections