ECONOMY | Staff Reporter, Singapore

Daily Briefing: Japan extends coronavirus state of emergency; US economy expands by 6.4%

And find out how much Southeast Asian women could contribute to the e-commerce market.

From Channel News Asia

The US economy grew by 6.4% for the first quarter of 2021, unchanged from the government's initial estimate. This is an increase from the 4.3% recorded in the last three months of 2020, when rising COVID-19 cases and waning government support raised fears that the company could tip back into recession.

Consumer spending grew by 11.3%, while business investment grew by 12.7%

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From Associated Press

Japan extends the coronavirus state of emergency in Tokyo and other areas in a bid to slow down the infection rate so it can safely host the Olympics.

The global sporting event is scheduled to start on July 23 after it was postponed for one year due to the pandemic. Worries of new variants and Japan's slow vaccination rollout have triggered calls from the public and medical experts to cancel the Games.

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US$260 billion. That's how much women could add to Southeast Asia's booming e-commerce market by 2030, according to a report from the International Finance Corporation.

The anonimity provided by e-commerce platforms have reduced the barriers faced by women, according IFC's gender program manager for East Asia and Pacific Amy Luinstra.

Read more here.

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