U.S. BUSINESS ACTIVITY SURGED TO A 20-MONTH HIGH IN OCTOBER: IHS MARKIT

Highlights

• IHS Markit said as per its flash U.S. Composite PMI Output Index went up to reading of 55.5 this month and was the highest since February 2019

• Few of the manufacturers and service industry companies noted the resurgence of COVID-19 in the country had a...

NARITA AIRPORT OPERATORS TO REDUCE CHARGES FOR DOMESTIC AND INTERNATIONAL AIRLINES

Highlights –

• Narita Airport operators to reduce charges for domestic and international airlines.
• Narita International Airport will be waiving landing and parking charges.
• Small-sized aircraft for international flights will receive a $...

MANUFACTURE INDUSTRY TRANSFORMATION TO BEGIN IN SINGAPORE WITH JTC AND SBF COLLABORATION

HIGHLIGHTS

• JTC and the Singapore Business Federation (SBF) on Wednesday signed an agreement to digitalize small and medium-sized enterprises esp. manufactures

The new JTC-SBF Industry Transformation Initiative plans to back 300 and more organiz...

NITORI HOLDINGS CO. TO LAUNCH TAKOVER BID OF SHIMACHU TO DCM

Highlights –

• Nitori Holdings Co. to launch takeover bid of Shimachu to DCM.
• The deal is said to be worth up to $1.5 billion.
• On the Tokyo stock bourse, Shimachu shares ended at 4,195 yen.
• If the takeover is successful by DC...

SK HYNIX IN ADVANCED TALKS TO PROCURE NAND MEMORY CHIP BUSINESS FROM INTEL FOR $9 BILLION

• SK hynix Inc., South Korea's No. 2 chipmaker, said Tuesday that it treasured designs of  buying the NAND business of US semiconductor giant Intel Corp. in a deal worth 10.3 trillion won ($9 billion) to assist the company to leapfrog into being the world's second-largest NAND ...

TRANSPORT SYSTEM IN FINAL PHASE OF COMPLETION FOR CIIE

• A big event such as the China International Import Expo (CIIE) is a candid test of Shanghai’s transportation system, the smooth operation of which requires eager planning.
• As the import expo draws near, work in and around the city has entered a critical phase in preparati...

ANA HOLDINGS CO. TO ACQUIRE $3.8 BILLION IN LOANS FROM BANKS

Highlights –

• ANA Holdings Co. to acquire $3.8 billion in loans from banks.
• Four commercial banks and government-backed banks expected to extend the capital.
• The loan is to bolster the capital base for its airline operator’s earn...

NIPPON STEEL CORP. MAY SELL 2 OF ITS U.S AUTOMOTIVE STEEL PLANTS

Highlights –

• Nippon Steel Corp. may sell 2 of its U.S automotive steel plants.
• Its partner ArcelorMittal S.A jointly owns a company running the two plants.
• Nippon Steel has planned to close one of its plants in western Japan by Septe...

ANA POSSIBLY TO CUT MONTHLY WAGES BY 5% FROM JANUARY

Highlights –

• ANA possibly to cut monthly wages by 5% from January.
• ANA has been restructuring its company as cost-cutting measures due to the pandemic.
• The airline company will also start offering early retirement at the end of next M...

SINGAPORE MINISTER URGES RETAILERS TO GET PAST THE TRADITIONAL BUSINESS FORMAT

HIGHLIGHTS

• As the coronavirus has impacted the Singaporean business market, the trade and industry ministry commented that there is a requirement for retailers to kick off something new and change to another plan for survival

Addressing the med...

JAPAN REPORTS STEADY RISE IN PRIVATE-SECTOR MACHINERY ORDERS IN AUGUST

Highlights –

• Japan reports steady rise in private-sector machinery orders in August.
• In August private-sector machinery orders increased by 0.2 percent from the previous month.
• Cabinet Office mentioned orders totaled to $7.1 billion....

JAPAN’S OPPOSITION PARTY CDP AND OTHERS CRITICIZE THE CENTRAL GOVT. ‘GO TO EAT’ PROGRAM

Highlights –

• Japan’s opposition party CDP and others criticize the central govt. ‘Go to Eat’ program.
• The central government of Japan had introduced the reward system program to increase restaurant demands.
• The gover...

EMPLOYEES OF ANA CO. TO BE PERMITTED TO TAKE ON SIDE PART-TIME JOBS

Highlights –

• Employees of ANA Co. to be permitted to take on side part-time jobs.
• The employees will be able to work for other companies in their off-duty hours.
• Around 15,000 of ANA Co. employees will be allowed to do so.
• ...

INDIAN-ORIGIN ACADEMICIAN, SRIKANT DATAR NAMED NEW DEAN OF HARVARD BUSINESS SCHOOL

Highlights:

• Srikant Datar, who is an Indian-origin academician, teaching in the Harvard School of Business has been named as the Dean of the Harvard Business School
• Srikant Datar becomes the second consecutive Dean of the Harvard Business School after...

FEASIBILITY STUDY ON DIGITAL CURRENCY TO BE STARTED BY THE BANK OF JAPAN FOR FISCAL 2021

Highlights –

• Feasibility study on digital currency to be started by the Bank of Japan for fiscal 2021.
• The study is said to begin in April 2021.
• BOJ will collaborate with other central banks and fintech firms to study the same.
...

JAPAN TO POSTPONE PROCEEDINGS ON ACCEPTING BIDS FOR HOSTING OF CASINO RESORTS

Highlights –

• Japan to postpone proceedings on accepting bids for hosting of casino resorts.
• The central government has cited the impact of the pandemic for the postponement.
• The government has decided to postpone the proceedings until...

CABINET OFFICE OF JAPAN REPORTS STEADY IMPROVEMENT IN BUSINESS SENTIMENT

Highlights –

• Cabinet Office of Japan reports steady improvement in business sentiment.
• The diffusion index of confidence in the likes of taxi drivers and restaurant staff showed improvement.
• The Cabinet Office reportedly polled 2,050 ...

JAPAN’S SUMITOMO BANK TO CHARGE PROCESSING FEES FOR NEW BANK ACCOUNTS

Highlights –

• Japan’s Sumitomo Bank to charge processing fees for new bank accounts.
• Bank accounts that will be open in April 2021 or later and do not use online banking services.
• The bank will collect about $10 annually from acc...

CONSULTANTS TO CHECK FRAUD SURROUNDING COVID-19 RESCUE LOANS

HIGHLIGHTS

• The BBB wants to examine the recipients of its emergency loans amid the COVID-19 lockdown. 
• Professionals from RSM and KPMG have been hired by the bank to investigate the loans and uncover cases of fraud.
• Some firms receivin...

EMIRATES DEVELOPMENT BANK INCLUSIVE OF FUNDING NON-EMIRATI OWNED BUSINESS TO IMPROVE COUNTRY’S ECONOMY

HIGHLIGHTS

• Emirates Development Bank (EDB) will extend its venture command to incorporate organizations that are not 100% Emirati-possessed, to support the nation's SME scene.

The order of the bank truly was to concentrate predominately fro...