Wheat and various wholesale food prices have reportedly skyrocketed following Russia's withdrawal from an export agreement aimed to ensure critical supplies distribution from war-torn Ukraine.
Wheat futures increased by almost 6% on Monday, while corn prices increased by over 2% in response to increased concerns about shortfalls that have plagued markets since Moscow's decision to invade Ukraine in February.
30% of the world's wheat supplies come from Russia and Ukraine.
In order to p
Employees have reportedly fled Apple's biggest iPhone assembling facility in China after a Covid breakout caused a lockdown.
In an online video, about ten people were seen climbing a barrier outside the Foxconn factory in Zhengzhou, China.
The stringent zero-Covid policy of China’s President Xi Jinping is still wreaking havoc on the nation’s people and businesses. It is unknown how many Covid infections have been found at the factory.
The capital of China's Henan province, Zhe
Employment reportedly increased in the Q3, but Singapore's job market recovery indicated signs of slowing momentum, as layoffs increased and the unemployment rate rose, according to the Ministry of Manpower (MOM).
As per MOM's preliminary forecasts for the quarter, total employment increased by 75,600 over the prior quarter, excluding migrant employees.
However, there was a steady increase in unemployment rates and a rise in layoffs, even though both measures were still at or below levels from before COVID-19.
China, the largest market for smartphones, reportedly delivered 175.1 million devices from January to August, a dramatic fall of 22.9% compared to the same period last year. Shipments fell 21.9% year over year in August alone, as per the statistics received from a state-backed organization.
The COVID-hit economy, inflation, and a downturn after years of explosive growth are all contributing to the downfall of the global smartphone market, which saw a 9% drop in Q2. The surge was undoubtedly fueled by China's expanding customer base, and now that the country's econo
Mercedes, the German luxury carmaker, has reportedly announced to suspend its Russian operations amid Ukraine's invasion in February.
Early in March, it halted producing in and exporting its products to Russia.
However, the carmaker has now announced that it will leave the Russian sector and sell shares in its subsidiaries to a regional investor.
Nissan, the Japanese company, suspended operations in Russia earlier this month after Toyota and Renault did the same.
WeRide, which is one of the most well-funded robotaxi companies in China with investors such as Renault-Nissan-Mitsubishi Alliance, reportedly announced on Tuesday that it is partnering up with the automobile giant, Hyundai to establish a self-driving hydrogen-powered car pilot zone in Guangzhou, its southern headquarters.
The partnership comes at a time when China, which has been working towards achieving a decarbonized economy, is focusing more on clean hydrogen production and research.
The announcement doesn't offer many detail
Malaysia Airlines, the flag carrier of Malaysia, has reportedly announced to offer 20% discount prices to help voters get to the polls for the 15th General Elections on November 19.
The airline announced the start of the Jom Balik Mengundi (Let's go back to vote) promotion on Thursday. The campaign will run from October 20 to November 19 and will cover travel from November 11 to November 27.
It will also add 26 additional flights and convert 16 domestic services to spacious A330 aircraft to accommodate the rising demand on differe
Mediahuis Ireland, the publishing company formerly recognized as Independent News & Media (INM), has reportedly decided to settle various claims, made against it by the infamous INM 19, a group of people with diverse ties to the firm and whose emails were unlawfully obtained during a data breach in 2014.
It has also taken action to resolve some of the complaints made by a few former and current editors within the organization who believe that private information was inappropriately obtained without their knowledge in another data theft, unrelated to the INM 19 one.
Hong Kong shares reportedly fell to their lowest level since the global financial crisis, following a major speech by the leader of the city on Wednesday.
Before reclaiming some ground, the benchmark Hang Seng index dropped by over 3% to its lowest point since May 2009.
Investors are also worried about the possibility of a global economic downturn if central banks across the world increase interest rates to combat increasing prices.
Yesterday, John Lee, Hong Kong's chief executive unveiled in
