
Malaysia to compensate Singapore $125.7 million for costs on scrapped high-speed railway project
Jan 03, 2021 23:20 pm UTC| Economy
Malaysia may have to pay as much as $125.7 million for costs already incurred by Singapore for a high-speed rail line after the two countries scrapped the project due to disagreement on Malaysias proposed changes. The...

S. Korea's exports drop by 5.4% to $512.8 billion in 2020
Jan 02, 2021 23:45 pm UTC| Economy
South Korea posted exports worth $512.8 billion in 2020, representing a 5.4 percent on-year plunge amid the pandemic, based on data compiled by the Ministry of Trade, Industry, and Energy. According to Industry Minister...

Tax-evasive Indian soft drink companies forced to shift to 40% rate
Jan 02, 2021 05:37 am UTC| Economy
Some soft drink companies in India will shift to the 40 percent tax rate after being found unqualified for the 12 percent tax bracket reserved for fruit pulp or juice. In August, regional beverage companies were placed...

Ford, Mahindra cancel India joint venture due to changing economic conditions
Jan 02, 2021 00:44 am UTC| Business Economy
Mahindra Mahindra and Ford Motor Company have been called off their much-awaited joint venture in India due to significant changes in the global business environment caused by the pandemic. The two carmakers have...

US slaps tariffs on French and German wines, aircraft parts for unfair EU treatment
Jan 01, 2021 22:54 pm UTC| Economy
The US would slap additional taxes on certain EU products, including aircraft components and liquor from France and Germany, in response to the EUs unfair tariffs against it. The Office of the US Trade Representative...

US: Workers in 20 states are set to receive wage hike in 2021
Jan 01, 2021 08:26 am UTC| Economy
Workers in 20 states in the U.S. will start receiving bigger paychecks this year. The new payout could be a New Year gift that employees will surely appreciate, especially in this time of the pandemic. It was reported...

Lotte shuts down its mall in Dongdaemun
Jan 01, 2021 07:54 am UTC| Economy
Lotte shuts down the operation of its Lotte FITIN fashion mall in Dongdaemun. The closure order has taken effect on Dec. 31 and cited a business slump in the region as the reason for the companys decision. Why the mall...