Date
26 September 2018

Industries

  • The Competition and Consumer Commission of Singapore told Grab to remove its exclusivity arrangements with drivers and taxi fleets. Photo: Bloomberg

    Singapore competition watchdog fines Grab, Uber US$9.5 million

    Sep 24, 2018 4:44pm
    Singapore slapped ride-hailing firms Grab and Uber with fines and finalized restrictions to open up the market to competitors after concluding that their merger in March has driven up prices, Reuters reports. Uber Technologies Inc. sold...
  • SK Hynix, which makes computer memory chips, is moving the production of certain chip modules back to South Korea from China. Photo: Bloomberg

    Asian firms shift production from China as US tariffs hit

    Sep 24, 2018 11:58am
    A growing number of Asian manufacturers of products ranging from memory chips to machines tools are moving to shift production from China to other factories in the region in the wake of US President Donald Trump’s...
  • Global brands are stepping up focus on marketing technology in a bid to woo new-age-consumers more effectively. Photo: Bloomberg

    Digital marketing annual global spend nears US$100 bln: report

    Sep 24, 2018 9:48am
    Global annual spending on digital marketing is nearing the US$100 billion mark, according to a study, which estimated that such spending was up 44 percent last year in the US and Britain to US$52 billion. “Clearly...
  • Saudi Arabia's Energy Minister Khalid al-Falih said the kingdom has spare capacity to raise output but such a move is not required at the moment and may not be needed next year. Photo: Reuters

    OPEC, Russia rebuff Trump call for immediate boost to oil output

    Sep 24, 2018 9:32am
    OPEC leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out any immediate, additional increase in crude output, effectively rebuffing US President Donald Trump’s calls for action to cool the market, Reuters...
  • Porsche, which is preparing to launch next year its first fully-electric sports car, Taycan, has announced that it will stop producing diesel vehicles. Photo: Bloomberg

    Porsche abandons diesel cars amid EV push

    Sep 24, 2018 9:17am
    Porsche will stop offering diesel versions of its cars, the Volkswagen unit announced on Sunday, outlining its aim to sharpen focus instead on hybrid and battery-powered vehicles. “Porsche is not demonizing diesel. It is, and will...
  • Buying Sky will make Comcast the world’s largest pay-TV operator with around 52 million customers. Photo: Reuters

    Comcast outbids Fox with US$40 billion winning offer for Sky

    Sep 24, 2018 7:49am
    Comcast beat Rupert Murdoch’s Twenty-First Century Fox in the battle for Sky after offering 30.6 billion pounds (US$40 billion) in a dramatic auction to decide the fate of the pay-television group, Reuters reports. The US cable...
  • Ten years after the collapse of Lehman Brothers, record debt levels, fueled by low interest rates, have become a major concern. Photo: Bloomberg/AFP

    Ten years on: Escaping the shadow of Lehman’s fall

    - Sep 24, 2018 7:39am
    Ten years after the collapse of Lehman Brothers, the unorthodox measures central banks took to douse the fires of the global financial crisis have left a smoldering terrain that still casts a pall over the global...
  • If things turn worse in the US-China trade row, the Hong Kong stock market could remain subdued for a longer period. Photo: Bloomberg

    HK equities: How long will the weakness last?

    - Sep 21, 2018 11:22am
    The Hang Seng Index hit a record high of 33,484 points on January 29, and then tumbled 20 percent from its peak for the first time on September 7. Technically speaking it has already entered the...
  • A Deliveroo driver secures an order from a field kitchen in the UK in this picture from Aug 2017. The food delivery platform is reportedly being eyed by Uber for a potential acquisition. Photo: Bloomberg

    Uber in talks to buy food delivery firm Deliveroo: report

    Sep 21, 2018 9:42am
    Uber Technologies is in early talks to buy food-delivery company Deliveroo, Bloomberg reports, citing people familiar with the matter. London-based Deliveroo was valued at more than US$2 billion in a financing deal last year. Any offer...
  • Adobe aims to boost its digital marketing business with the acquisition of Marketo. Photo: Reuters

    Adobe buys marketing software firm in US$4.75 bln deal

    Sep 21, 2018 9:24am
    Adobe Systems has agreed to buy Marketo, a California-based marketing software firm, for US$4.75 billion, a move that signals its ambitions for cloud-based digital marketing. Marketo’s business-to-business marketing applications will complement Adobe’s digital marketing business, which...
  • Galaxy Digital Capital Management's Mike Novogratz has called a bottom in the cryptocurrency market. Photo: Reuters

    Cryptocurrency market set to bounce back: Michael Novogratz

    Sep 21, 2018 9:09am
    The cryptocurrency market has hit the bottom, setting the stage for a bounce-back of units like the bitcoin, according to Michael Novogratz, founder of cryptocurrency asset management firm Galaxy Digital Capital Management. Bitcoin witnessed a “classic...
  • Alibaba aims to develop customized chips and processors to support the group's push into the fast-growing cloud and Internet of Things businesses. Photo: AFP

    Why Alibaba wants to develop its own chips

    - Sep 20, 2018 12:02pm
    Alibaba chairman Jack Ma last week signaled that the group is about to enter the next stage of its development when he announced that he is stepping down as chairman next year and passing the mantle of...
  • Amid the uncertainties in the mainland, the Hong Kong equity market may get worse in the near term. Photo: Reuters

    What do HK equity investors worry about most?

    - Sep 20, 2018 11:51am
    The Hang Seng Index has already tumbled over 6,000 points from its peak this year. Investors might have had their hopes too high and are now coming to terms with reality. So what are the worst...
  • Amazon wants to open the cashierless stores in dense urban areas with mostly young and affluent residents who are willing to spend a little more for better quality food. Photo: Reuters

    Amazon eyes up to 3,000 cashierless stores by 2021: report

    Sep 20, 2018 10:05am
    Amazon.com Inc. is considering opening as many as 3,000 AmazonGo cashierless stores in the next few years, Bloomberg reports, citing people familiar with the matter. The plan, if executed, would make Amazon Go one of the biggest...
  • The EU is gathering information on issues related to Amazon's use of merchants' data, EU Competition Commissioner Margrethe Vestager said on Wednesday. Photo: Bloomberg

    Amazon’s use of merchant data under EU scrutiny

    Sep 20, 2018 9:39am
    European Union regulators are checking whether US online retailer Amazon is using merchants’ data in a way that stifles competition, the bloc’s antitrust chief said on Wednesday. According to EU Competition Commissioner Margrethe Vestager, the issue...
  • Tencent Music, a company that streams music from Chinese and international artists such as Ed Sheeran (pictured), filed its IPO application on Sept. 7. Photo: AFP

    Tencent Music seeks US$2 billion in US IPO: report

    Sep 20, 2018 9:38am
    Tencent Music Entertainment Group, China’s biggest music streaming company, is seeking to raise about US$2 billion in a US listing, Reuters reports, citing people close to the deal. The company, a subsidiary of Chinese tech giant...
  • Chinese deals such as the 2016 takeover of robotics firm Kuka by Midea are said to be prompting the German government to take some action to protect the nation's tech firms. Photo: Reuters

    Germany mulls fund to fend off Chinese tech takeovers: report

    Sep 20, 2018 8:56am
    Germany is seeking to counter a surge in Chinese bids for stakes in German technology firms, with one of the plans under consideration being the creation of a billion-euro fund to rescue troubled takeover targets, according...
  • Hong Kong has taken a significant step as part of a drive to transition to a new era of smart banking. Photo: Bloomberg

    Why HKMA’s new faster payment system is a big deal

    - Sep 19, 2018 2:07pm
    Facing criticism that it is lagging China and some other jurisdictions in Asia in adoption of mobile payments and financial technology development, Hong Kong has been seeking to enhance its financial services market. In keeping with...
  • Singapore is one of the leading centers of technology and innovation in the Southeast Asian region. Photo: Reuters

    Singapore attracts US$7.8 billion venture funds over five years

    Sep 19, 2018 1:35pm
    According to the State of Southeast Asian Tech report published by Monk’s Hill Ventures and Slush Singapore last month, Singapore attracted US$7.8 billion of venture funds between 2013 and 2017. The report covered mainly six countries,...
  • Hotpot chain Haidilao will use the IPO proceeds to expand its business, including forays into new overseas markets. Photo: Reuters

    Haidilao prices IPO at top end, raising nearly US$1 bln: report

    Sep 19, 2018 9:53am
    Chinese hotpot chain Haidilao raised nearly US$1 billion in its Hong Kong initial public offering by pricing its shares at the top of an indicated range, Reuters reports, citing people familiar with the matter. Haidilao sold...

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