Business

South Korea will pursue all options, including emergency arbitration, to avert a labor strike at Samsung Electronics. The government emphasized that even one day of suspension would incur massive economic losses, making the prevention of disruption a critical national priority.

The prolonged Middle East war is causing financial strain for Singapore businesses. Rising costs in energy and logistics, coupled with price-sensitive consumers, are impacting corporate profits across multiple sectors like F&B and transport.

The World Bank predicts Vietnam's economic growth will slow to 6.8% in 2026, a decrease from last year’s 8%. Despite this slowdown, the outlook is solid. However, elevated risks remain due to global conditions and inflation.

At court, OpenAI CEO Sam Altman rejected Elon Musk's claims that the company betrayed its non-profit mission. Altman stated that accusing them of "stealing a charity" did not align with his understanding of their current operations and corporate structure.

Russia's internet crackdown, including restrictions on apps like Telegram and VPNs, severely impacts small businesses. These unpredictable outages threaten digital sales, causing significant inconvenience and financial losses for entrepreneurs across Russia.

Strong US job data has complicated calls for rate cuts, dampening hopes for prospective Fed chair Kevin Warsh. With high inflation persisting and the labor market remaining robust, officials favor holding rates steady rather than cutting them this year.

Amazon Singapore is cutting roles as its business focus shifts from local grocery fulfillment to international product shipments. The company assures affected staff that they will receive support or be redeployed within the firm.

UOB aims to double its wealth management income to at least S$2.5 billion by 2030. Leveraging the completed Citi integration, the bank plans aggressive expansion across Asean's affluent segment for sustainable, long-term growth.

Geopolitical tensions in the Strait of Hormuz caused oil prices to surge past $100/barrel. This energy shock pushed US yields higher, dragging stocks lower. Investors must brace for sustained inflation, potentially reaching 4%.