Date
17 August 2018

Business

  • Joseph Blatter (right), then the FIFA head, presents the World Cup to the chairman of the Qatar bid, Sheikh Mohammed bin Hamad Al-Thani, in 2010. Blatter now claims Qatar cheated in its pursuit of the right to host the 2022 World Cup. Photo: Reuters

    Qatar 2022: Be careful who you listen to

    - Aug 17, 2018 5:52pm
    Sepp Blatter’s claims that Qatar cheated in its pursuit of the right to host the 2022 World Cup ring hollow. After all, this was the man who was supposedly presiding over FIFA, world football’s governing body,...
  • Tencent is facing policy headwinds, but its core business remains strong. Photo: Reuters

    Leading technology plays are having a hard time

    - Aug 17, 2018 5:14pm
    Leading technology plays Sunny Optical Technology (Group) Co. Ltd. (02382.HK) and Tencent Holdings (00700.HK) encountered considerable selling pressure following the release of their interim results. While Sunny Optical may face some structural challenges, Tencent should continue...
  • A strong dollar increases the debt burden of emerging markets and leads to capital outflow from these markets. Photo: Reuters

    Emerging markets face mounting pressure amid rising rates

    - Aug 17, 2018 10:34am
    The Turkish lira has slumped in recent days, sending ripples across other emerging market currencies and stoking fears of another financial crisis. To gauge whether the recent turmoil could develop into a full-blown crisis, let’s take...
  • The 'Made in China 2025' plan identifies the production of electric car batteries as an industrial priority. Photo: Reuters

    China seeks global dominance in electric cars

    - Aug 17, 2018 10:31am
    Chinese brands hold a negligible share of the world’s car market. But Beijing plans to change all that for the new generation of electric cars – it wants to be the global leader. The “Made in...
  • JD.com, which is locked in a battle with Alibaba Group in China's e-commerce market, has been in and out of the red for the past year. Photo: Reuters

    JD.com expects warehousing assets to help shore up earnings

    Aug 17, 2018 9:41am
    JD.com, China’s second-largest e-commerce firm, is shifting management of its warehousing assets to a separate unit, a move it hopes will revive profits after it swung back to a loss in April-June, Reuters reports. Executives were quoted as...
  • The Reserve Bank of India has been prudent with respect to monetary policy, despite a drop in inflation. Photo: Reuters

    The growing role of China and India in emerging market bonds

    - Aug 17, 2018 9:30am
    Diversification across asset classes has become an essential part of investing for the long term. Investors are increasingly looking further afield to deepen their portfolio diversification and lower total risk as they seek attractive returns. Emerging...
  • There has been a lot of argument as to whether cryptocurrency mining actually creates any value. Photo: Reuters

    The moral debate on crypto-mining firms

    - Aug 17, 2018 9:00am
    By offering products or services and creating value, companies are rewarded with profit. This logic applies to almost all businesses. But cryptocurrency mining might be an exception. It’s reported that several leading cryptocurrency miners are planning...
  • HKSTP chairman Sunny Chai said the park aims to increase the number of startups it is incubating from 268 to 500 in five years. Photo: HKEJ/Internet

    HKSTP startups to double to 500 in five years, says new chief

    Aug 16, 2018 4:58pm
    The new chief of Hong Kong Science and Technology Parks Corporation (HKSTP) has set aggressive goals to invigorate the city in the global race for innovation and technology. At a media luncheon on Wednesday, HKSTP chairman Sunny Chai...
  • Drivers of food delivery service Meituan Dianping are seen in Beijing, China, where smartphone users commonly order food delivery and other services via mobile apps. Photo: Reuters

    Meituan-Dianping sees HK listing approval next week: report

    - Aug 16, 2018 3:27pm
    Meituan-Dianping, an online food delivery-to-ticketing services platform, is seeking a listing hearing and approval next week for its planned Hong Kong initial public offering, IFR reports, citing sources familiar with the matter. The Chinese company, which...
  • China's tightening scrutiny on online games threatens to crimp Tencent's business growth. Photo: Bloomberg

    Regulatory risk casts shadow on Tencent game business

    - Aug 16, 2018 1:35pm
    After being on a scorching growth path for many years, Chinese internet giant Tencent Holdings is currently finding itself in a somewhat difficult position as Beijing authorities tighten their oversight on the online games industry. Early...
  • The upcoming meeting is lower-level compared with four previous rounds of talks. Photo: Reuters

    China, US to hold next round of trade talks in late August

    Aug 16, 2018 12:45pm
    China said it will hold a fresh round of trade talks with the United States in Washington later this month, offering a glimmer of hope for progress in resolving a conflict that has set world markets...
  • The telecom industry is undergoing profound changes amid intense competition as well as fast-changing technology and market environment. Photo: Xinhua

    Hong Kong’s telecom industry gears up for upcoming 5G era

    - Aug 16, 2018 12:09pm
    A lot seems to be going on in Hong Kong’s telecom industry lately. Hutchison Telecommunications Hong Kong Holdings Limited( 00215.HK) and Hong Kong Telecom (06823.HK) both announced changes at the senior executive level earlier this month....
  • FunNow executives pose for a group picture. The Taipei-based instant booking app for entertainment and leisure activities currently has 500,000 registered members. Photo: FunNow

    Taiwan’s FunNow to expand in SE Asia, Japan after new funding

    - Aug 16, 2018 11:16am
    FunNow, a Taiwan-based startup that offers instant booking services for entertainment and leisure activities, has completed a US$5 million (around HK$39 million) series A funding round as it seeks to enter new markets in Asia. The latest funding...
  • Lenovo reported a net profit of US$77 million for the three months to June, compared with a loss of US$72.3 million in the same period a year earlier. Photo: Reuters

    Lenovo swings to forecast-beating profit

    Aug 16, 2018 9:38am
    Chinese PC maker Lenovo Group swung to a profit and beat estimates in the three months to June, helped by a sharp jump in revenue. Net profit came in at US$77 million for the fiscal first quarter, compared...
  • Uber has cut its losses after retreating from some markets, but still has a long way to go on the path to profitability. Photo: Bloomberg

    Uber narrows loss but still far from profit

    Aug 16, 2018 9:22am
    Uber Technologies, the ride-hailing services firm which aims to go public next year, narrowed its quarterly losses from a year earlier, but appears to be still a long way from turning a profit. The San Francisco-based firm...
  • Google's transparency report now has a section showing who buys US election ads on its platform and how much money is spent on political advertising. Photo: AFP

    Google provides data on US political advertising

    Aug 16, 2018 9:07am
    Google said it has added a section to its twice-yearly transparency report to show who buys US election ads on its platform and how much money is spent on political advertising, Reuters reports. The move follows...
  • The complaint said the mobile service provider was tricked into transferring a subscriber’s phone number to a SIM card controlled by someone else. Photo: Reuters

    US investor sues AT&T for US$224 mln over cryptocurrency loss

    Aug 16, 2018 8:49am
    US entrepreneur and cryptocurrency investor Michael Terpin filed a US$224 million lawsuit against a telecommunications company, accusing it of fraud and gross negligence in connection with the theft of digital currency tokens from his personal account, Reuters...
  • Tesla investors have been on a roller-coaster ride since CEO Elon Musk said last week that he was considering taking the company private. Photo: AFP

    SEC sends subpoenas to Tesla on going-private plan: report

    Aug 16, 2018 8:02am
    The US Securities and Exchange Commission has sent subpoenas to Tesla Inc. regarding chief executive Elon Musk’s plan to take the company private and his statement that funding was “secured”, Fox Business Network reports, citing sources....
  • Tencent could return to rapid revenue growth once it  gains regulatory approval to start charging for its PlayerUnknown’s Battlegrounds video game in China. Photo: Internet

    Tencent in regulatory limbo as earnings decline

    Aug 16, 2018 7:37am
    Chinese technology giant Tencent Holdings Ltd. said it does not know when it may get approval to start charging for its most popular game, after reporting its first quarterly profit fall in nearly 13 years on...
  • Property agency boss Shih Wing-Ching is overseeing an effort to weed out the practice of fake home listings. Photo: HKEJ

    Why HK property agents are acting on fake market listings

    - Aug 15, 2018 4:56pm
    Shih Wing-Ching, chairman of Centaline Property Agency, has revealed that only 10,000 secondary home listings could be authentic, out of a total of 160,000 such listings in Hong Kong. That means only 6 percent of listings...

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