Date
23 July 2018

Industries

  • Japan’s SoftBank Group is said to be planning another major investment in a Chinese tech startup, via the Vision Fund. Photo: Bloomberg

    SoftBank fund eyes US$1 bln investment in SenseTime: report

    Jul 23, 2018 9:39am
    SoftBank Vision Fund is seeking to invest almost US$1 billion in China’s facial recognition technology developer SenseTime Group, Bloomberg reports, citing people familiar with the matter. The fund, created by Japan’s SoftBank Group, and SenseTime are finalizing...
  • An amendment backed by some lawmakers that would have reinstated sanctions on ZTE was stripped out of a key US defense policy bill. Photo: Bloomberg

    US lawmakers cut anti-ZTE measure from defense bill

    Jul 23, 2018 9:15am
    US lawmakers cut measures from a defense bill that would have reinstated sanctions on China’s ZTE Corp, abandoning an attempt to punish the firm for illegally shipping US products to Iran and North Korea, Reuters reports....
  • 'Taxation should be where the moneymaking is," says Hubert Fuchs, European Council representative to the G20, calling for global rules to tax the digital economy. Photo: Reuters

    Europeans press for digital tax at G20 meeting

    Jul 23, 2018 9:04am
    European finance leaders called for progress on global rules to tax the digital economy at a meeting of G20 finance ministers and central bankers on Sunday, putting them at odds with US counterparts, Reuters reports. The...
  • Facing severe criticism, especially in India, about the spread of fake information on its platform, WhatsApp is implementing some changes to its messaging service. Photo: Bloomberg

    WhatsApp makes further moves in bid to curb fake news, spam

    Jul 20, 2018 6:45pm
    WhatsApp, the instant messaging app owned by Facebook, is rolling out more changes as it seeks to curb fake news and spam on its social platform. After recently adding labels that can help users identify whether...
  • The government can introduce a licensing system for the car-hire service market, which would give the public more choices while sparing Uber drivers the fear of falling into legal traps. Photo: Reuters

    Time to review outdated laws that bar ride-hailing apps

    - Jul 20, 2018 11:32am
    Earlier this week, 28 Uber drivers were convicted of providing car-hire services without permits at the Kowloon City Magistrates’ Courts, and were fined between HK$3,800 and HK$4,500. In his ruling, Magistrate Joseph To Ho-shing said the...
  • BASF was able to convince Beijing that the Zhanjiang project will bring the products and technology it needs and that it is a reliable, long-term partner. Photo: Bloomberg

    What makes BASF’s US$10 billion Guangdong project possible?

    - Jul 20, 2018 10:39am
    In April this year, a delegation led by Zhanjiang City Mayor Jiang Jianjun visited the headquarters of BASF in Ludwigshafen, Germany. He was blown away by what he saw. Its “Verbund” site is the largest industrial...
  • Comcast has abandoned its pursuit of Twenty-First Century Fox's entertainment assets, and will now focus on gaining control of European pay-TV group Sky. Photo: Bloomberg

    Comcast drops Fox bid, clearing way for Disney

    Jul 20, 2018 9:28am
    US cable giant Comcast on Thursday dropped its US$66 billion bid for the entertainment assets of Twenty-First Century Fox, saying it will now focus on gaining control of European broadcaster Sky. The withdrawal marks a concession...
  • IBM is suing Groupon for US$167 million, accusing it of infringing four basic internet technology patents. Photo: Reuters / Bloomberg

    IBM shaking down tech firms, Groupon alleges in patent trial

    Jul 20, 2018 9:26am
    A lawyer for discount e-commerce company Groupon Inc. told a US federal court that International Business Machines Corp. has shaken down practically every large tech firm for patent fees, Reuters reports. IBM is suing Groupon for...
  • Much of Microsoft’s recent growth has been fueled by its cloud computing business, which has benefited from companies rushing to shift their workloads to the cloud to cut data storage and software costs. Photo: AFP

    Microsoft beats Wall Street targets on cloud services revenue

    Jul 20, 2018 8:57am
    Microsoft Corp. posted quarterly profit and revenue that beat analysts’ estimates, as more businesses signed up for its Azure cloud computing services and Office 365 productivity suite. The company’s flagship Azure cloud product recorded revenue growth...
  • The order issued by the US Federal Communications Commission is a serious and potentially fatal blow to Sinclair’s bid to acquire Tribune. Photo: AFP

    Sinclair ‘did not fully disclose facts’ on Tribune merger: FCC

    Jul 20, 2018 8:28am
    Sinclair Broadcast Group Inc. “did not fully disclose facts” about aspects of its US$3.9 billion acquisition of Tribune Media, the US Federal Communications Commission said in an order that referred the issue to an administrative law...
  • Vinda chairman Li Chao Wang (center) is flanked by chief executive Christoph Michalski and CFO Vicky Tan at the announcement of the company's interim results on Thursday. Photo: EJ Insight

    Vinda interim profit up 30.1 percent despite soaring pulp prices

    - Jul 19, 2018 5:48pm
    Vinda International Holdings Ltd. (03331.HK), a maker of tissue and other personal care products, said net profit in the first half jumped 30.1 percent to HK$417 million from a year earlier, despite rising pulp prices. Revenue...
  • After bagging the top spot in 2014 in a world airline ranking survey, Cathay Pacific has seen its position slip continuously. Photo: Bloomberg

    Can Cathay Pacific recover lost ground?

    - Jul 19, 2018 4:25pm
    Cost-cutting gone too far? The China integration factor? Or the I-don’t-care attitude? Well, whatever the reason — personally, I think it’s a combination of all three factors, plus more — the undeniable truth is that Cathay...
  • Signs show WeChat Pay and Alipay are accepted at a shop in Singapore. China's dominant mobile payment operators are aggressively expanding overseas. Photo: Reuters

    Tencent’s WeChat Pay goes big in US despite trade tensions: CNBC

    Jul 19, 2018 3:33pm
    After conquering the home market, China’s leading mobile payment platforms are pushing their services overseas. Tencent’s WeChat Pay is expanding in the United States, despite the escalating trade fight between the two countries. Yin Jie, director...
  • Datebase and cloud software giant Oracle has joined the list of tech entities that are offering blockchain-as-a-service to enterprises. Photo: Reuters

    Oracle rolls out blockchain cloud service platform

    Jul 19, 2018 12:59pm
    Oracle Corp has formally launched a blockchain cloud platform, joining other tech giants such as IBM and Microsoft in offering blockchain-as-a-service for firms that wish to deploy distributed ledger technology at low cost.  The Oracle Blockchain...
  • Xiaomi is determined to tap the Korean market in a bid to boost its overseas exposure. Photo: Bloomberg

    Xiaomi eyes Korea expansion as share price rebounds

    - Jul 19, 2018 12:15pm
    Following its weak trading debut last week, Chinese smartphone maker Xiaomi has seen its share price rise above its offer price. This came after the Hong Kong stock exchange and its mainland counterparts agreed to form a...
  • Market participants have calmed down following their panic reaction to the US-China trade war as the situation is unlikely to worsen in the near term. Photo: Reuters

    Equities: 3Q outlook positive but longer term view cloudy

    - Jul 19, 2018 12:02pm
    China’s broad M2 money supply grew 8 percent in June from a year ago, missing forecasts for an expansion of 8.4 percent. The nation’s total social financing, a broad measure of credit and liquidity in the...
  • Amazon has narrowed the gap further with Apple in stock market valuation, setting the stage for an interesting battle in the race for the US$1 trillion mark. Photo: Reuters

    Amazon hits US$900 bln market cap, closing in on Apple

    Jul 19, 2018 9:41am
    Amazon’s stock market value hit new highs on Wednesday, pushing the online retail giant one step closer to potentially dislodging Apple as the world’s most valuable firm. Marking a major milestone in the firm’s 21-year trajectory...
  • Google has been experimenting with new inroads to China, where the majority of its products are blocked by Chinese authorities as part of their censorship measures. Photo: AFP

    Google launches game on Tencent’s WeChat

    Jul 19, 2018 9:09am
    Alphabet Inc.’s Google said it has launched an artificial intelligence (AI) game on Tencent Holdings Ltd.’s social media app WeChat, Reuters reports. The US technology firm has been experimenting with new inroads to China, where the...
  • EU antitrust chief Margrethe Vestager said “Google has used Android as a vehicle to cement the dominance of its search engine" over rivals. Photo: Reuters

    Europe hits Google with record US$5 billion antitrust fine

    Jul 19, 2018 8:54am
    European antitrust regulators fined Google a record 4.34 billion euros (US$5 billion) on Wednesday and ordered it to stop using its popular Android mobile operating system to block rivals, Reuters reports. The US tech company said...
  • Alibaba will acquire about 6.62 percent in Focus Media for 9.63 billion yuan (US$93.8 million) and possibly another 5.0 percent stake in the next 12 months. Photo: Reuters

    Alibaba to acquire minority stake in Focus Media

    Jul 19, 2018 8:11am
    Chinese e-commerce giant Alibaba Group Holding Ltd. has agreed to acquire a minority stake in China’s Focus Media Information Technology Co. Ltd. (002027.CN) to tap into the digital marketing sector, Reuters reports. Alibaba will acquire about...

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