Date
18 October 2019

Industries

  • Indonesia's President Joko Widodo said the project should provide “a sense of justice” for Indonesians who live in the eastern part of the country. Photo: Xinhua

    Indonesia completes cable to bring internet to remote east

    Oct 14, 2019 4:45pm
    Indonesia has completed the last leg of a 13,000-kilometer fiber-optic network that will bring high-speed internet to some of its poorest regions in the country’s east, including the restive region of Papua, Reuters reports. The cable...
  • US authorities have halted a much-hyped digital token offering by the messaging service Telegram Group and its TON Issuer subsidiary, deeming the issuance ‘unlawful’. Photo: Reuters

    US regulator blocks Telegram’s US$1.7 bln crypto token sale

    Oct 14, 2019 11:53am
    The US Securities and Exchange Commission (SEC) has blocked a US$1.7 billion crypto token sale plan of messaging service Telegram’s blockchain initiative, putting the project in jeopardy. Telegram Open Network (TON), the blockchain initiative of the...
  • Treasurer Josh Frydenberg said the government needs information on the banks’ funding costs to understand why they are not passing on rate cuts in full. Photo: Bloomberg

    Australia calls for new probe into loan pricing by banks

    Oct 14, 2019 11:27am
    The Australian government has ordered the competition watchdog to investigate why banks failed to pass three official interest rate cuts this year in full, less than a year after a public inquiry exposed the industry for...
  • Instant noodle sales have seen a rebound in China due to a combination of factors. Photo: Bloomberg

    What can we tell from China’s reviving sales of instant noodles?

    - Oct 14, 2019 10:39am
    China has witnessed a rebound in sales of cup noodles since last year after a drastic fall in 2017. Does that mean the economy is getting better or worse? The nation’s instant noodle sales hit a...
  • US Senator Elizabeth Warren said Facebook changed its ads policy to allow politicians to run ads with known lies. Photo: Bloomberg

    Warren campaign challenges Facebook with ‘false’ Zuckerberg ad

    Oct 14, 2019 9:25am
    US Senator Elizabeth Warren’s Democratic presidential campaign challenged Facebook’s policy that exempts politicians’ ads from fact-checking, by running ads on the social media platform containing the false claim that the tech giant’s chief executive, Mark Zuckerberg,...
  • Following a botched IPO plan, WeWork is working toward securing new financing, including through its key shareholder SoftBank. Photo: Reuters

    SoftBank seeks control of WeWork through financing package: WSJ

    Oct 14, 2019 9:24am
    SoftBank Group has prepared a financing package for WeWork Companies that would give it control over the shared office space company, the Wall Street Journal reported. The package would significantly increase the stake of SoftBank, which...
  • Santos managing director Kevin Gallagher said the deal advances the group's aim to be a leading regional LNG supplier. Photo: Bloomberg

    ConocoPhillips sells LNG assets to Santos for US$1.39 billion

    Oct 14, 2019 8:36am
    ConocoPhillips has agreed to sell its northern Australian business to its partner Santos Ltd. for US$1.39 billion, in a deal that will boost the Australian oil and gas group’s output by 25 percent, Reuters reports. The...
  • Libra Association, the group behind Facebook's digital currency, is now without any remaining major payments companies as members. Photo: Reuters

    Facebook’s Libra abandoned by major financial companies

    Oct 14, 2019 7:43am
    Facebook Inc.’s ambitious efforts to establish a global digital currency called Libra suffered more setbacks as major payment companies including Mastercard and Visa Inc. quit the group behind the project, Reuters reports. The two companies announced...
  • With visual recognition technology, customers can place their purchases on a Circle K self-checkout counter and pay with Octopus card. Photo: YouTube

    Queue busting: Is AI the answer?

    - Oct 11, 2019 5:00pm
    The checkout process has remained unchanged for decades and stands as a significant pain point for both customers and retailers in Hong Kong – as long lines and weary staff all too often lead to lackluster...
  • KBQuest chief executive Eric Moy (center) explains how Ai-Knowie is used in the auditing process for financial services. Photo: KBQuest

    How AI can fuel digital transformation in businesses

    - Oct 11, 2019 12:11pm
    Artificial intelligence is now playing a crucial role in the digital transformation of businesses. Eric Moy, chief executive of digital transformation consulting firm KBQuest, recently sat down with the Hong Kong Economic Journal to talk about...
  • Google has pulled 'The Revolution Of Our Times' app, which lets users role-play as Hong Kong protesters. Photo: Reuters

    Google removes Hong Kong protester role-playing app

    Oct 11, 2019 11:01am
    Google has removed from its Play Store a role-playing app associated with the Hong Kong protests, citing a policy that prohibits developers from capitalizing on ongoing conflicts. A Google spokesman said on Thursday that the “The...
  • China has been accused of flooding the European market with cheap, subsidized steel. Photo: Reuters

    EU opens anti-dumping probe on China, Indonesia hot-rolled steel

    Oct 11, 2019 10:26am
    The European Commission has opened an anti-dumping probe into hot-rolled stainless steel from China and Indonesia following complaints that the two Asian nations are flooding the European market with cheap, subsidized steel. Separately, the Commission said...
  • A prototype of Toyota’s second-generation Mirai fuel-cell car is displayed at a media briefing in Tokyo. Photo: Reuters

    Toyota unveils revamped hydrogen sedan

    Oct 11, 2019 9:40am
    Toyota Motor unveiled a completely redesigned hydrogen-powered fuel cell sedan on Friday in its latest attempt to revive demand for the niche technology that it hopes will become mainstream, Reuters reports. Ahead of the Tokyo Motor...
  • The Boeing 737 NG planes found with structural cracks will be grounded until the repairs are made. Photo: Reuters

    Cracks found on 38 of 810 Boeing 737 NG jets inspected globally

    Oct 11, 2019 9:33am
    Boeing Co. said airlines had inspected 810 of the company’s 737 NG jets around the world and found 38 structural cracks requiring repair and replacement of the affected parts, Reuters reports. The planes will be grounded...
  • The Fed has eased the capital and liquidity rules for banks operating in the United States. Photo: Bloomberg

    Fed eases post-crisis rules for domestic, foreign banks

    Oct 11, 2019 9:25am
    The US Federal Reserve on Thursday unveiled a final package of rules easing capital and liquidity requirements for domestic US and foreign banks that were originally introduced following the 2007-2009 global financial crisis, Reuters reports. The...
  • Removing an app that Hong Kong protesters have used to track police movements, Apple said the app violated the firm's rules. Photo: Reuters

    Apple pulls HK police-tracking app after China criticism

    Oct 10, 2019 3:52pm
    Apple has removed from its app store an application, HKmap.live, which protesters in Hong Kong have used to track police movements, saying the app violated its rules. The move came after the US tech giant came under...
  • China Everbright Group could raise up to US$3 billion in the share offering, sources said. Photo: Reuters

    China Everbright Group to pursue Hong Kong IPO: report

    Oct 10, 2019 1:53pm
    State-owned financial conglomerate China Everbright Group aims to restructure its sprawling business and pursue a billion-dollar IPO next year in Hong Kong, Reuters reports, citing three people with direct knowledge of the matter. While the offering...
  • Huawei is expected to see some American firms resume supply of non-sensitive telecom components. Photo: Reuters

    US to issue licenses for supply of some goods to Huawei: report

    Oct 10, 2019 11:40am
    The United States will soon issue licenses allowing some US companies to supply non-sensitive goods to Chinese telecoms gear maker Huawei Technologies, the New York Times reported on Wednesday, citing people familiar with the matter. The...
  • Fitbit began exploring alternatives to China in a bid to shield itself from the Sino-US tariff war. Photo: Bloomberg

    Fitbit to shift production out of China from January

    Oct 10, 2019 9:54am
    Fitbit said on Wednesday that it will manufacture all its trackers and smart watches outside China from January, in an apparent move to insulate itself from tariffs, Reuters reports.  The wearable device maker was quoted as saying...
  • It is suspected that some discussion groups on the Douban platform have become too enthusiastic about their political views. Photo: Douban

    Why popular book and movie review website Douban got suspended

    - Oct 10, 2019 9:39am
    Douban, China’s fifth most popular social media platform, was virtually shut down over the weekend. The website is mainly for reviewing books and movies, but users also share photos and post messages on the platform. Douban...