Economy

President Yoon Suk-yeol of South Korea warned that the government may intervene to break up a statewide strike by truckers, deeming it unlawful and undesirable to “hold hostage” the national supply chain during an economic crisis. On November 24, thousands of unionized truckers began their second major strike in less than six months, which is already impacting several businesses in …

Anwar Ibrahim, the recently selected prime minister of Malaysia, stated on November 25 that he will prioritize the cost of living as he enters office amid a faltering economy and a highly divided nation following a tight election. Anwar, 75, was sworn in as prime minister on November 24, culminating a three-decade political career from protégé of senior leader Mahathir …

At a time when the global outlook is bleak, the promise of foreign funding to assist Indonesia in reducing its emissions is a clear cause for celebration. The question is at what volume. Delegates at COP27, the world’s top climate change conference, spent the majority of this year’s summit in Sharm el-Sheikh, Egypt, worried that geopolitical tensions and economic pressures …

In President Ferdinand Marcos Jr.’s first meeting with a Middle Eastern head of state, in the midst of a global oil crisis, the oil supply of the Philippines was not the “main” topic of conversation. The Philippines’ largest export was their labor force. “The Crown Prince, Prime Minister went on to discuss Saudi Arabia’s plans to expand its economy, and …

Rosidi Yapa began fishing 20 years ago. He still appreciates his profession, “but there are many differences between then and now.” In the past, he could fish in the waters off the coast of Johor and catch more than 20 tons of fish in three days, but now it takes “at least five to six days.” Rosidi, the skipper of …

Thailand is reversing a program that would have permitted affluent foreigners to acquire a limited amount of land, a government official said on Tuesday (Nov 8), following a popular uproar against the plan. Foreigners are limited to 0.16 ha of land provided they invest a minimum of 40 million baht (US$1.07 million) in securities or bonds for a minimum of …

Meta Platforms Inc META.O announced on Wednesday that it will lay off 13% of its workforce, or more than 11,000 workers, in one of the year’s largest layoffs, as the Facebook parent company confronts rising costs and a sluggish advertising market. The large layoffs, the first in Meta’s 18-year history, come after hundreds of layoffs at other prominent digital companies, …

United Airlines Holdings Inc has joined the list of firms banning advertising spending on Twitter, a United Airlines spokeswoman said Friday night. General Mills Inc. and Audi of America announced on Thursday that they have suspended advertising on Twitter, days after billionaire Elon Musk purchased the social media network for $44 billion. Concerns over Twitter’s new direction under new owner …

Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund that manages more than $284 billion in assets worldwide, and private equity firm KKR have formed an alliance in which they will co-invest in performing private credit opportunities in the Asia-Pacific region to address a lack of capital and support the long-term growth plans of businesses. As part of their “strategic relationship,” …

The New York Stock Exchange will suspend trading of Twitter shares on Friday, October 28, according to its website, as billionaire Elon Musk confronts a court-ordered October 28 deadline to conclude his $44 billion bid for the social media company. Musk, the world’s richest person, visited Twitter’s offices in San Francisco on Wednesday and updated his profile bio to “Chief …