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Singapore to tighten shoe recycling controls after Reuters report

 A Singapore shoe recycling project will be subject to surprise inspections following a Reuters investigation that found footwear it donated to the scheme was not recycled, Singapore’s minister of culture said on Monday. U.S. petrochemicals giant Dow Inc and Sport Singapore, a government agency, had pledged that the shoes would be ground down to make playgrounds and running […]

Technology World

‘Climate time bomb ticking’, emissions must urgently be cut, UN chief says

 U.N. Secretary General Antonio Guterres warned that the “climate time bomb is ticking” as he urged rich nations on Monday to slash emissions sooner after a new assessment from scientists said there was little time to lose in tackling climate change. “The rate of temperature rise in the last half century is the highest in […]

Business World

Amazon to cut 9,000 jobs in second round of layoffs

 Amazon.com Inc said on Monday it would cut 9,000 jobs, making it the latest Big Tech company to announce a second round of layoffs in the face of a possible recession. Numerous tech giants including Microsoft Corp, Salesforce Inc , Alphabet and Meta Platforms have slashed thousands of jobs in recent months after pandemic-led hiring sprees left them […]

Business Finance

Bank shares rise after Credit Suisse rescue eases crisis

U.S. banking stocks rose on Monday and Europe’s lenders recovered from a sharp early sell-off after UBS Group’s state-backed takeover of Credit Suisse appeared to close off one source of worry for the global banking sector. In a package engineered by Swiss regulators on Sunday, UBS Group AG will pay 3 billion Swiss francs ($3.2 billion) for […]

Economy Healthcare

Covid-19 policies and the human factor

As Covid infections and deaths are declining, it remains important to assess the effectiveness of the public policy measures implemented in response to the pandemic. This column argues that such polices, though clearly desirable from a medical point of view, are bound to deliver somewhat disappointing results. Because they create a safer environment, they induce […]

Banking Finance

The Silicon Valley Bank collapse: Prudential regulation lessons for Europe and the world

While the collapse of Silicon Valley Bank appears to be an example of failure of both bank management and supervision, it also offers insights about prudential regulation. This column draws two main lessons in this respect. The first is that the episode should increase the resolve of public authorities to further improve the resolution framework […]

Banking Finance

How monetary policy affects bank lending and financial stability: A ‘credit creation theory of banking’ explanation

Recent research has shown that the stance of monetary policy can influence financial stability. This column provides an explanation for the effects of monetary policy on credit growth based on a ‘credit creation theory of banking’. In this framework, ‘funds’ are liquid bank deposits created by the banking system independently of private saving(s). The central […]

Featured World

PM Modi: India’s econmic, banking systems are strong

India’s economic and banking system are strong even amid the turmoil currently rocking global markets, Prime Minister Narendra Modi said on Saturday. “Amidst a global crisis, today India’s economic system is strong, the banking system is strong. This is the power of our institutions,” Modi said at an India Today gathering. Bank stocks worldwide have […]