June, 2021

• 2 June

  Democrats are failing US in science funding

  To revitalise US science and technology with more government spending, it’s time to go big or go home. Tragically, it seems that both Congress and the Biden administration have decided to go home. Economists have been shouting their heads off about the productivity slowdown for more than a decade. Since around 2005, total factor productivity — the ultimate driver of ...

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• 2 June

  Thailand approves $4.5b in stimulus with cash handouts

  

  Bloomberg Thailand’s government approved a set of economic stimulus measures worth 140 billion baht ($4.5 billion) to counter the impact from the nation’s biggest coronavirus outbreak yet. The measures — which include cash handouts to welfare-card holders and special groups, co-payments and cash rebates — are expected to be implemented from July, Anucha Burapachaisri, a government spokesman, said on Tuesday. ...

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• 2 June

  Foxconn strikes EV pact with PTT in Thailand

  

  Bloomberg Foxconn Technology struck a multibillion-dollar electric-vehicle partnership in Thailand, its latest move to expand in the fast-growing industry at a time more tech companies including Apple are looking to bulk up their automotive muscle. The Taiwanese electronics giant and Thailand’s state-owned conglomerate PTT Pcl will collaborate on hardware and software for producing EVs, according to a statement from the ...

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• 2 June

  Monsoon rain forecast lifts India farm output prospects

  Bloomberg Indian farmers are expected to expand planting of major crops such as rice, corn and soybeans after the national weather forecaster predicted bountiful rains during the June-September monsoon season. The India Meteorological Department maintained on Tuesday its earlier forecast of a normal monsoon, which waters more than half of the country’s farmland. Cumulative rains are likely to be 101% ...

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• 2 June

  Asia manufacturing powers ahead despite Covid-19 fears

  

  Bloomberg Asia’s manufacturing activity continued to advance in May, though at a slightly slower pace, despite flare-ups of Covid-19 around the region that could force some plants to close and weigh on sentiment. Taiwan’s IHS Markit May manufacturing purchasing managers’ index declined to 62 from April’s 62.4, remaining well above the 50 level that signals expansion. New orders rose. South ...

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• 2 June

  Covid-19: Malaysian assets fall after lockdown

  Bloomberg Malaysian stocks dropped and the ringgit weakened after the government imposed a two-week nationwide lockdown to curb a relentless surge in Covid-19 infections. The FTSE Bursa Malaysia KLCI Index fell as much as 1.6%, before paring losses to 0.7% at the close in Kuala Lumpur. The ringgit slid as much as 0.4% to 4.1480 per dollar, while 10-year bond ...

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• 2 June

  Singapore pledges reopening over mass vaccination

  

  Bloomberg Singapore pledged it would not be left behind as developed economies reopen, marking an intention to shift away from the strict containment approach that’s helped some Asian places eliminate the virus, but which leaves them increasingly isolated. The country wouldn’t be stuck in a Covid-19 malaise, and tourists will be welcomed, people can go for sports events, even ditch ...

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• 2 June

  Xi seeks ‘lovable’ China image in sign of diplomatic rethink

  

  Bloomberg President Xi Jinping urged Chinese officials to create a “trustworthy, lovable and respectable” image for the country, in a sign that Beijing may be looking to smooth its hard-edged diplomatic approach. Xi told senior Communist Party leaders that the country must “make friends extensively, unite the majority and continuously expand its circle of friends with those who understand and ...

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• 2 June

  Myanmar junta moves Aung San Suu Kyi to ‘unknown location’

  

  Bloomberg Myanmar’s junta has moved the nation’s civilian leader Aung San Suu Kyi and ex-president Win Myint from their residences in the capital to an “unknown location,” according to allies who’ve expressed serious concerns for their safety. The two have been held by the country’s powerful military since it seized power in a coup on February 1. “We’ve heard from ...

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• 2 June

  Ivory Coast’s ex-president to return home on June 17

  Bloomberg Former Ivory Coast President Laurent Gbagbo is expected to return home on June 17 after his acquittal on charges of crimes against humanity at the International Criminal Court, according to his party. The party announced the news at a celebration to mark Gbagbo’s birthday in the economic capital, Abidjan. It was confirmed by Gbagbo’s lawyer, Habiba Toure. The Hague-based ...

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