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by Beiyi SEOW Many European firms are rethinking their investments in China because of its strict Covid controls, a top business group said Monday, warning that disruptions had pummelled operations. While the rest of the world has steadily removed coronavirus curbs, China has remained committed to its zero-Covid strategy, using lockdowns and mass testing to stamp out all infections. But this strategy has hammered businesses and snarled supply chains — 60 percent of respondents in […]
by Clara WRIGHT Agence France Presse Nanterre, France (AFP) — French authorities have issued an international arrest warrant for Carlos Ghosn, the disgraced auto tycoon who jumped bail in Japan and fled to Lebanon in a sensational getaway, prosecutors told AFP on Friday. The warrant was issued on Thursday over 15 million euros ($16.3 million) in suspect payments between the Renault-Nissan alliance that Ghosn once headed and an Omani company, Suhail Bahwan Automobiles (SBA), […]
Russian President Vladimir Putin said Thursday that Moscow had no other choice but to invade Ukraine to ensure Russia’s security, speaking hours after his army crossed his ex-Soviet neighbour’s borders. “What was happening left us with no choice,” the Russian leader said during a televised meeting with business representatives, adding that “we had no other way of proceeding”. pop-jbr/md/yad © Agence France-Presse
BRUSSELS, Belgium (AFP) – The EU on Wednesday presented draft legislation to force big companies to do due diligence on supply chains to ensure they do not breach human rights or environmental standards. Those that fail to comply would face fines imposed by the EU member country they have business in. EU justice commissioner Didier Reynders said that while companies are concerned about their reputation, EU legislation is needed given the scope of the issues […]
by Eric RANDOLPH Agence France-Presse PARIS, France (AFP) – Sneakers made from banana or pineapple leaves, dresses from nettles or fish scales — the search for sustainable materials has taken the fashion industry to some wild places. Experts warn these new textiles are not a quick fix for fashion’s enormous problems with over-consumption and waste, but may be a necessary step in developing cleaner technologies. “You could possibly eat the final product,” said Hannes Schoenegger, […]
PARIS, France (AFP) — The world’s 10 wealthiest men doubled their fortunes during the first two years of the coronavirus pandemic as poverty and inequality soared, a report said on Monday. Oxfam said the men’s wealth jumped from $700 billion to $1.5 trillion, at an average rate of $1.3 billion per day, in a briefing published before a virtual mini-summit of world leaders being held under the auspices of the World Economic Forum. A […]
by Holmes CHAN Three years of democracy protests followed by a pandemic have devastated Hong Kong retailers who had grown used to relying on cash from mainland Chinese tourists. In a city that once boasted some of the world’s highest retail rents, the market has cratered. But a border town has seized the chance to evolve its local economy. Sheung Shui is the first town from the main overland border crossing and once thrived as […]
by Roland JACKSON Agence France Presse Global equity and oil markets slumped Monday on investor panic over the impact of worldwide measures to contain the fast-spreading Omicron coronavirus variant, dealers said. Asia tanked on concern over a fresh global surge in coronavirus infections, sparking a fierce renewed selloff in Europe, with eyes also on the US open. Oil tumbled by more than five percent as traders fretted over the impact on the world’s appetite […]
(Eagle News) – Malacanang clarified on Friday, Nov. 19, that the use of face shields—while already voluntary in areas under COVID-19 alert levels 3, 2 and 1—could still be required by employers or business establishment owners to their employees or customers while inside their premises. Presidential Spokesperson Karlo Nograles said that this modification is recommended by the Inter-Agency Task Force on Emerging Infectious Diseases (IATF-EID). “With regard to the voluntary use of face shields […]
by Remi BANET Agence France-Presse ISTANBUL, Turkey (AFP) – Just blocks from Istanbul’s Grand Bazaar, porter Bayram Yildiz waits his turn in a dark alley to heave a huge bale on his back nearly double his bodyweight. A few others linger beside him, picking up textiles from a lorry and lugging them to local shops before sunrise, their heads bowed and their knees bent. “I am half Hercules and half Rambo,” the muscle-bound 40-year-old joked, […]
LONDON, United Kingdom (AFP) – UK aircraft engine maker Rolls-Royce on Tuesday launched plans to build small low-cost nuclear reactors to help cut the nation’s carbon emissions. The news comes as Britain pushes ahead with large-scale projects, including Hinkley Point C which will be the nation’s first new nuclear plant for a generation. Rolls-Royce said it had created a new Small Modular Reactor (SMR) division after clinching a cash injection of £405 million ($547 million, […]
TOKYO, Japan (AFP) — Japan said Friday it will allow short-term business travellers, foreign students and other visa holders to enter the country, but tourists are still barred under pandemic border restrictions. From Monday, business visitors fully inoculated with an authorised vaccine will need to quarantine for only three days, down from a minimum of 10 days, the foreign ministry said. Daily cases in the country of 126 million have plunged from record highs […]
