Toyota unveils new 2022 Tundra pickup truck with new hybrid engine

Toyota unveiled its new 2022 with a bolder look, new technologies and more power. But the additional power will not from a new V-6 twin-turbo hybrid engine instead of a traditional V-8. Using twin-turbo V-6 engines has proven successful in pickup trucks, including Ford's F-150. While the Detroit automakers dominate pickup truck market in the… Continue reading Toyota unveils new 2022 Tundra pickup truck with new hybrid engine

China's booming electric car industry is much bigger than just Nio and Xpeng

The number of new Chinese businesses related to "new energy vehicles" surged by 81,000 this year through mid-August, bringing the total to more than 321,000, Qichacha said in a report. BEIJING — While investors watched dramatic surges in the stock prices of Chinese electric car makers like Nio and Xpeng, tens of thousands of companies… Continue reading China's booming electric car industry is much bigger than just Nio and Xpeng

Singapore pivots to living with Covid, refrains from tightening measures even as cases rise

Singapore has refrained from tightening social-distancing measures even as the highly infectious delta variant has driven up Covid-19 cases sharply. The Southeast Asian city-state wants to shift to a long-term strategy of living with the coronavirus. The government wants to limit the number of deaths and avoid overwhelming its hospitals, so it's not opening up… Continue reading Singapore pivots to living with Covid, refrains from tightening measures even as cases rise

Malaysia will start treating Covid as 'endemic' around end-October, trade minister says

Malaysia will start treating Covid-19 as an endemic disease around the end of October, said International Trade and Industry Minister Mohamed Azmin Ali. More than 75% of Malaysia's adult population is expected to be fully vaccinated by then, said Azmin. Malaysia's Southeast Asian neighbors including Indonesia, Thailand, Vietnam and the Philippines have also experienced a… Continue reading Malaysia will start treating Covid as 'endemic' around end-October, trade minister says

Singapore to allow Boeing 737 Max to return to service

Singapore's aviation regulator said on Monday it would approve the return to service of the Boeing 737 Max more than two years after the plane was grounded. The approval is based on operators including Singapore Airlines complying with airworthiness directives and additional flight crew training requirements, the Civil Aviation Authority of Singapore said in a… Continue reading Singapore to allow Boeing 737 Max to return to service

Singapore to roll out Covid vaccine booster shots to some groups, including seniors

Singapore is introducing booster Covid vaccine shots for people aged 60 and over, residents of nursing homes and those with suppressed immune systems. In a release Friday, the health ministry said older people will be eligible for a third dose six to nine months after their second dose, while those who are moderately-to-severely immunocompromised are recommended… Continue reading Singapore to roll out Covid vaccine booster shots to some groups, including seniors

Australia's economy slowed in Q2 ahead of lockdown downturn

Australia's economy was already slowing in the June quarter before wide-spread coronavirus lockdowns, leaving the country in a desperate race to vaccinate in the hopes of recovering by Christmas. Figures from the Australian Bureau of Statistics out on Wednesday showed gross domestic product (GDP) rose 0.7% in the June quarter, but was a step down from… Continue reading Australia's economy slowed in Q2 ahead of lockdown downturn

Australia's economy slowed in Q2 ahead of lockdown downturn

Australia's economy was already slowing in the June quarter before wide-spread coronavirus lockdowns, leaving the country in a desperate race to vaccinate in the hopes of recovering by Christmas. Figures from the Australian Bureau of Statistics out on Wednesday showed gross domestic product (GDP) rose 0.7% in the June quarter, but was a step down from… Continue reading Australia's economy slowed in Q2 ahead of lockdown downturn

The U.S. is reviewing its trade policy with China, says USTR Katherine Tai

Seven months since U.S. President Joe Biden took office, his administration has yet to establish a policy on trade with China. U.S. Trade Representative Katherine Tai said Tuesday the "Biden-Harris Administration and USTR are conducting a comprehensive review of U.S.-China trade policy," according to a readout of a meeting with two business associations. China's Ministry… Continue reading The U.S. is reviewing its trade policy with China, says USTR Katherine Tai

The U.S. is reviewing its trade policy with China, says USTR Katherine Tai

Seven months since U.S. President Joe Biden took office, his administration has yet to establish a policy on trade with China. U.S. Trade Representative Katherine Tai said Tuesday the "Biden-Harris Administration and USTR are conducting a comprehensive review of U.S.-China trade policy," according to a readout of a meeting with two business associations. China's Ministry… Continue reading The U.S. is reviewing its trade policy with China, says USTR Katherine Tai

Sydney extends Covid lockdown, imposes curfew on worst-hit areas

The Covid-19 lockdown of Sydney was extended on Friday and a nightly curfew imposed on the city's worst-affected suburbs. Australia's third wave of Covid-19 infections centered on Sydney has forced more than half the country's near 26 million people into lockdown. New South Wales Premier Gladys Berejiklian said new restrictions, including a requirement to wear… Continue reading Sydney extends Covid lockdown, imposes curfew on worst-hit areas

Singapore raises 2021 economic growth forecast as Covid vaccination progresses

Singapore's economy is expected to grow between 6% and 7% this year, the trade and industry ministry said. That compared with the previous official projection range of 4% to 6%. The upgrade comes as the Singapore economy grew 14.7% in the second quarter of 2021 from a year ago. SINGAPORE — Singapore's government raised its… Continue reading Singapore raises 2021 economic growth forecast as Covid vaccination progresses

Asian countries try a new strategy to get people on board with vaccines: Free prizes

Most of Asia is struggling with low inoculation rates as vaccine hesitancy persists. Many countries can't get enough vaccines for their people. Businesses and local governments are coming up with incentives to encourage those who are still hesitant about getting Covid shots. Businesses in Hong Kong are offering an apartment and airline miles, while countries like… Continue reading Asian countries try a new strategy to get people on board with vaccines: Free prizes

Debt-laden China Evergrande shares drop 14% to four-year lows

The Hong Kong-listed shares of China Evergrande Group fell Tuesday to four-year lows following news of an asset freeze. Evergrande shares have tumbled more than 60% over the last 12 months as Chinese authorities have attempted to cool the country's hot property market with new restrictions, particularly lending to real estate businesses. "I am not… Continue reading Debt-laden China Evergrande shares drop 14% to four-year lows

South Korea reports over 1,000 new Covid cases for 7th straight day

On Monday, South Korea implemented the toughest curbs it can apply on residents and business activity in Seoul. Data from the Korea Disease Control and Prevention Agency on Tuesday showed the daily tally topped 1,000 for a seventh consecutive day, though it was below last week's peak at 1,378. The latest clusters have seen far… Continue reading South Korea reports over 1,000 new Covid cases for 7th straight day

European stocks inch higher as global markets assess inflation spikes

The U.S. Labor Department reported a 5% annual increase in its headline consumer price index on Thursday, its fastest rise since 2008. However, strategists have suggested there is enough evidence in Thursday's data to sustain the Fed's assertions that hotter-than-expected inflation will be transitory. European markets were fractionally higher on Friday as global markets shrug… Continue reading European stocks inch higher as global markets assess inflation spikes

Government confident India will have over 2 billion vaccine doses by December, minister says

Last month, Health Minister Harsh Vardhan said India will have 516 million vaccine doses by July — including shots already administered — and that number will rise to 2.16 billion doses by December. The government expects about 750 million doses of the AstraZeneca vaccine that is being locally produced by the Serum Institute of India and… Continue reading Government confident India will have over 2 billion vaccine doses by December, minister says

China's services activity growth slows in May: Caixin PMI

China's services sector expansion slowed in May, a private sector survey showed on Thursday, with weaker overseas demand and increased costs putting pressure on businesses. The Caixin/Markit services Purchasing Managers' Index (PMI) fell to 55.1 in May, down from 56.3 in April but still well in expansionary territory. The 50-mark separates growth from contraction on… Continue reading China's services activity growth slows in May: Caixin PMI

Zero Covid? Taiwan outbreak shows that's not a long-term solution, says professor

Taiwan's latest Covid-19 outbreak is a lesson that a containment strategy aiming for zero local transmission may not be sustainable in the long term, said Benjamin Cowling, a professor at The University of Hong Kong's School of Public Health. Before the recent explosion in cases, Taiwan had reported very few Covid infections — most of… Continue reading Zero Covid? Taiwan outbreak shows that's not a long-term solution, says professor

Indians turn to social media for help as Covid crisis overwhelms the health-care system

A second wave of Covid-19 outbreak saw India's daily reported cases spike to more than 300,000 infections daily. That overwhelmed the healthcare system and resulted in shortages of hospital beds, oxygen cylinders, medicines and other critical resources. People in need of assistance, either for themselves or their relatives, posted requests on sites such as Twitter,… Continue reading Indians turn to social media for help as Covid crisis overwhelms the health-care system

European markets inch cautiously higher, tracking global sentiment

Hopes of a swift global economic recovery were boosted Thursday by data showing U.S. retail sales jumped 9.8% in March, outstripping consensus expectations as additional stimulus sent consumer spending soaring. European investors will have an eye on final euro area inflation figures for March, due for release at 10 a.m. London time, along with February's balance… Continue reading European markets inch cautiously higher, tracking global sentiment

European markets gain on recovery hopes; Credit Suisse cuts dividend

Credit Suisse announced several high-level staff departures and cut its dividends and bonuses in the wake of a $4.7 billion hit from the Archegos Capital Management saga. European markets advanced on Tuesday as trading resumes after the Easter holiday, with global sentiment boosted by positive economic data in the U.S. and China. The pan-European Stoxx… Continue reading European markets gain on recovery hopes; Credit Suisse cuts dividend

Carriers rejected at least $1.3 billion in potential U.S. agricultural exports from July to December

The United States saw at least $1.3 billion in potential agricultural exports rejected at major ports on the East and West coasts, from July to December last year, according to a CNBC analysis. The rejections were particularly heavy in December, according to analysis of data compiled from the Census Bureau and the Ports of Los… Continue reading Carriers rejected at least $1.3 billion in potential U.S. agricultural exports from July to December

European markets pull back slightly as Treasury yields climb again

The European Central Bank on Thursday vowed to ramp up its bond buying efforts "significantly" in the second quarter after borrowing costs rose across the continent. The yield on the benchmark U.S. 10-year Treasury note rose again on Friday morning in the aftermath of the stimulus passage, briefly hitting 1.6%. The U.K. economy shrank by… Continue reading European markets pull back slightly as Treasury yields climb again