Economists upgrade outlook as Singapore economy up 4.3% in Q2 2025
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China mulls economy-boosting measures to counter 'severe situation'
Asked specifically about China's reliance on exports, Wang suggested the government was preparing policies to "further stimulate the momentum of our consumption development". "China's economy is improving, and the long-term fundamentals have not changed, the consumption market's characteristics of great potential, strong resilience and vitality have not changed," he said. Wang also namechecked Beijing-based toymaker Pop Mart, whose Labubu monster dolls have become a must-have item internationally, adorning the handbags of celebrities such as Rihanna and Dua Lipa. "We are also promoting new forms of consumption ... for example, Pop Mart, these kinds of new trends, new fashions and styles ... the Labubu phenomenon has swept the world," he said. US DECOUPLING "IMPOSSIBLE" Beijing is battling to shift towards a growth model propelled more by domestic demand than the traditional key drivers of infrastructure investment, manufacturing and exports. That desired transformation has become more urgent since Donald Trump came to office. The US president has imposed tariffs on China and most other major trading partners, upending trade norms and endangering Beijing's exports at a time it needs them more than ever to stimulate economic activity. The two superpowers have sought to de-escalate their row after reaching a framework for a deal at talks in London last month, but observers warn of lingering uncertainty. Wang said on Friday that despite "storms and rain", Washington remained an important trading partner. Even though China-US trade has declined proportionally for each country, overall bilateral trade has remained stable, Wang said. The firm economic and popular basis for US-China cooperation "makes artificial decoupling and severing supply chains impossible", he said. Yet an inconsistent tune has "severely impacted and disrupted normal trade cooperation between China and the US".
CNA
an hour ago
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Indian Apple reseller Ample to grow revenue by a third as it expands presence, portfolio, CEO says
Indian Apple reseller Ample is banking on store expansion and adding more brands and clients to achieve 35 per cent revenue growth in fiscal year 2026, its chief executive said. The Bengaluru-based firm, which supplies tech products such as Apple computers to over 1,500 clients including SAP, Broadcom, Infosys, and Wipro, operates more than 120 stores across India. Nearly 50 of these sell Apple products, while others showcase brands like Under Armour and ASICS. The firm plans to expand its footprint to approximately 175 stores across brands within three years, Ample founder and CEO Rajesh Narang said on Monday, though he declined to specify a target for Apple-only stores. Ample's revenue stood at 17 billion rupees ($197.33 million) for the fiscal year ended March 31. The company is focusing on partnerships with global capability centers, hubs that manage operations, finance, and research for large multinational firms, to drive growth, Narang added. Apple, which reported nearly $8 billion in sales in India for the year through March 2024, operates its own stores in New Delhi and Mumbai. Other resellers in the market include Aptronix and iPlanet. While Apple also plans to expand its presence in India, Narang said that would benefit partners like Ample, as the market tends to grow with the brand's presence. The firm plans to list on stock exchanges within five years to fund its growth strategy. "With our growth ambition, there will be a need for capital," Narang said.
CNA
an hour ago
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What's Coming Up - On The Red Dot On Home-based Businesses In HDB Flats
On The Red Dot explores the growing number of Singaporeans turning their HDB flats into full-fledged businesses, offering everything from gourmet private dining to artisanal coffee, hair styling, and beauty treatments.
