Date
17 October 2018

Business

  • Google CEO Sundar Pichai said while the company is providing users access to information, it must also follow the laws in the countries where it operates. Photo: Reuters

    For the first time, Google CEO discusses China search engine

    Oct 16, 2018 6:04pm
    For the first time, Google chief executive Sundar Pichai has commented publicly on reports that the technology giant is developing a censor-friendly search app specifically for the China market. Speaking at Wired’s 25th-anniversary conference in San...
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    Why TOM is eyeing electric vehicle business in rural China

    - Oct 16, 2018 2:00pm
    TOM Group (02383.HK) has been transforming its business model from a media company to an investment platform focusing on emerging technologies and applications. WeLab could be one of its most successful investments. The Hong Kong-based financial...
  • The People's Bank of China retains a lot of independence in keeping rates loose as it deleverages. Photo: China Daily

    HK and China taking separate paths on interest rates

    - Oct 16, 2018 1:54pm
    We believe that differing monetary policy regimes and index constituents will dictate a separation between the Hang Seng Index and the CSI 300 into year-end. Not only are Hong Kong Interbank Offered Rate (HIBOR) and Shanghai...
  • Ztore.com co-founder and CEO Danny Shum said the company has over 200,000 users who spend HK$580 per order on average. Photo: HKEJ

    Online supermarket Ztore.com secures US$8 mln Series B funding

    - Oct 16, 2018 1:22pm
    Ztore.com, a Hong Kong-based e-commerce startup selling groceries and home essentials, has completed an US$8 million Series B funding, led by Welight Capital and joined by Kwai Hung Group. Founded in 2015, Ztore.com mainly offers local...
  • European Medicines Agency (EMA) has placed China's Zhejiang Huahai Pharma under tighter supervision in relation to manufacturing practices. Photo: Bloomberg

    China drug maker placed under increased supervision by EU

    Oct 16, 2018 12:23pm
    European authorities announced on Monday that they are placing Zhejiang Huahai Pharmaceutical Co. under higher supervision, marking the latest crackdown on the Chinese firm after a probable carcinogen was found in its blood pressure drug valsartan....
  • Paul Allen in 1997 bought the football franchise Seattle Seahawks, which won the Super Bowl in February 2014. Photo: Reuters

    Microsoft’s Paul Allen dies of cancer complications at 65

    Oct 16, 2018 10:40am
    Microsoft Corp. co-founder Paul Allen, the man who persuaded school-friend Bill Gates to drop out of Harvard to start what became the world’s biggest software company, died on Monday at the age of 65, Reuters reports,...
  • Sears filed for Chapter 11 bankruptcy protection in White Plains, New York on Monday. Photo: Reuters

    Bankruptcy judge approves financing to keep Sears open

    Oct 16, 2018 10:14am
    A bankruptcy judge approved US$300 million in financing to keep department store chain Sears Holdings Corp. open through the holiday season, giving the century-old retailer that once dominated US shopping malls a chance to remain in...
  • With the cryptocurrency bubble having gone bust, boosters have resorted to a defense of “blockchain”, the distributed-ledger software underpinning all cryptocurrencies. Photo: Bloomberg

    The big blockchain lie

    - Oct 16, 2018 9:01am
    With the value of Bitcoin having fallen by around 70 percent since its peak late last year, the mother of all bubbles has now gone bust. More generally, cryptocurrencies have entered a not-so-cryptic apocalypse. The value...
  • The global stock market slide had many traders and investors scratching their heads. Photo: Reuters

    Market crash? Another red card for the economy

    - Oct 15, 2018 4:23pm
    A few months ago I wrote this article at the World Economic Forum called “A Yellow Card For The Global Economy“. It tried to serve as a warning on the rising imbalances of the emerging and...
  • Canada should avoid the use of Huawei equipment in 5G telecoms networks, two influential US lawmakers wrote in a letter to the Canadian prime minister. Photo: Reuters

    US lawmakers urge Canada to shun Huawei in 5G rollout

    Oct 15, 2018 9:18am
    Two leading US lawmakers urged Canadian Prime Minister Justin Trudeau to consider dropping China’s Huawei Technologies from helping to build next-generation 5G telecoms networks, Reuters reports. Senators Mark Warner, a Virginia Democrat, and Marco Rubio, a...
  • Facebook vowed to "do everything we can to earn users’ trust" after revealing the largest data breach in its history. Photo: Reuters

    Data breach affected 29 mln users, Facebook says

    Oct 15, 2018 9:04am
    Cyber attackers stole data from 29 million Facebook accounts using an automated program that moved from one friend to the next, Facebook said on Friday, claiming that its largest-ever data theft hit fewer than the 50...
  • Alibaba Group’s Jack Ma gestures during a seminar at the International Monetary Fund - World Bank Annual Meeting in Nusa Dua, Bali, on Oct. 12, Photo: Reuters

    Jack Ma in talks for tech training institute in Indonesia

    Oct 15, 2018 8:52am
    Alibaba Group co-founder Jack Ma said on Saturday that he is discussing with Indonesia’s government the possibility of opening an institute to train tech entrepreneurs in the country, where he is already an adviser to the...
  • The US aims to make currency issues a central part of trade talks with other countries, Steven Mnuchin indicated over the weekend. Photo: Reuters

    US to seek currency chapters in trade talks with Japan, others

    Oct 15, 2018 8:39am
    Washington wants to include a provision to deter currency manipulation in future trade deals, including with Japan, based on the currency chapter in the new deal to revamp NAFTA, US Treasury Secretary Steven Mnuchin said on...
  • US Treasury Secretary Steven Mnuchin expressed his concerns about the yuan’s recent weakness in his discussions with Chinese central bank governor Yi Gang in Bali, Indonesia this week. Photo: Bloomberg

    US-China trade talks must cover currency, says Mnuchin

    Oct 12, 2018 4:58pm
    US Treasury Secretary Steven Mnuchin said on Friday he told China’s central bank chief that currency issues need to be part of any further US-China trade talks and expressed his concerns about the yuan’s recent weakness,...
  • Tencent Music was originally planning to launch its initial public offering as soon as next week. Photo: Bloomberg

    Tencent Music delays US$2 billion US IPO on weak markets: report

    Oct 12, 2018 3:41pm
    Tencent Music Entertainment has delayed its planned US initial public offering (IPO) until at least November, preferring to wait for global stock markets to stabilize, Reuters reports, citing sources. The music arm of tech giant Tencent...
  • China’s large trade surplus with the United States is at the center of an increasing bitter dispute between the world’s two biggest economies. Photo: Xinhua

    China trade surplus with US hits record US$34.1 bln in September

    Oct 12, 2018 12:18pm
    China’s trade surplus with the United States surged to a record high of US$34.13 billion in September, compared with US$31.05 billion in August, Reuters reports, citing the latest Chinese customs data released on Friday. The September...
  • Amid rising tensions with the United States, China should deepen its structural reforms. Photo: Sina

    How China should respond to the economic cold war with US

    - Oct 12, 2018 11:14am
    Many have described the deteriorating US-China relations as a new era of cold war. But I believe it’s more like an economic cold war, rather than a full-blown cold war, because what the United States cares most...
  • A weaker yuan bodes ill for earnings of many listed companies in Hong Kong. Photo: Reuters

    HK equities to see more downside as yuan weakens

    - Oct 12, 2018 10:53am
    The People’s Bank of China announced last Sunday that it was cutting the reserve requirement ratio (RRR) for banks, the fourth such move this year. It remains to be seen whether the easing move will help...
  • Apple has used Dialog's power-management chips to extend the battery life of its iPhones. Photo: Reuters

    Apple gets key iPhone technology in US$600 million Dialog deal

    Oct 12, 2018 9:39am
    Apple Inc. is taking control over the power-management technology at the heart of its iPhones in a US$600 million deal with Dialog Semiconductor, Reuters reports. The agreement to license technology and take on people from the...
  • The business coalition accused the Trump administration of downplaying the cost of tariffs while presenting a long list of items subject to new import taxes. Photo: Reuters

    US business group says Trump tariffs cost US$1.4 billion a month

    Oct 12, 2018 9:02am
    A coalition of US business groups fighting President Donald Trump’s trade tariffs has launched an advertisement aimed at telling voters ahead of the midterm elections that the measures are costing American businesses and consumers US$1.4 billion...

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