Date
23 February 2019

Business

  • Huawei is working hard to fend off US moves to ease it out of the market. Photo: Reuters

    Huawei bets on P30 series to boost market share amid US moves

    - Feb 20, 2019 11:32am
    In its trade conflict with China, the United States has been asking allies to ban Huawei Technologies from taking part in their efforts to introduce 5G technology into their telecommunications networks, alleging that the Chinese company...
  • HSBC will be proactive in managing costs and investment to meet the risks to revenue growth, its chief executive says. Photo: Reuters

    HSBC warns on China, UK slowdowns as 2018 profit disappoints

    Feb 20, 2019 9:35am
    Banking giant HSBC warned on Tuesday that it may have to delay some investments this year after missing its 2018 profit forecasts due to slowing growth in its two home markets of China and Britain, Reuters...
  • China wants to increase soybean production after its move to slap tariffs on imports from the United States tightened domestic supplies. Photo: AFP

    China to expand agriculture reforms to bolster rural economy

    Feb 20, 2019 9:24am
    China will deepen the reform of its agriculture sector to promote its rural economy as it seeks to bolster growth and offset trade challenges, Reuters reports, citing the government’s first policy statement for the year. “Under the...
  • Google is acquiring a California-based company that helps enterprises streamline database migration in the cloud. Photo: Reuters

    Google to acquire data migration firm Alooma in cloud push

    Feb 20, 2019 9:14am
    Google announced on Tuesday that it will buy data migration company Alooma, an initiative that is seen as part of efforts to catch up with Amazon and Microsoft in the cloud service business. Headquartered in Redwood City,...
  • Donald Trump has indicated that he is open to extending the deadline for completion of trade negotiations with Beijing in a bid to achieve a deal. Photo: Reuters

    March 1 deadline for China trade talks not ‘magical’ date: Trump

    Feb 20, 2019 8:41am
    US President Donald Trump said on Tuesday that trade talks with China are going well and suggested he is open to pushing off the deadline to complete negotiations, saying March 1 is not a “magical” date,...
  • Hong Kong Disneyland expects its prospects to improve further after it managed to narrow its losses in the financial year ended September. Photo: HKEJ

    HK Disneyland trims losses as visitor numbers improve

    Feb 19, 2019 4:27pm
    The Hong Kong Disneyland Resort remained in the red for the fourth straight year, but it managed to reduce the losses considerably on the back of an improvement in visitor numbers and enhanced guest spending. According...
  • Leveraging the Lightning Network technology, new app Tippin is allowing Twitter users to make small bitcoin transactions as a tip if they like a tweet. Photos: Reuters, Bloomberg

    New app allows users to tip on Twitter with bitcoin

    Feb 19, 2019 3:12pm
    Notwithstanding a market “winter”, the cryptocurrency industry is continuing an effort to push mass adoption of new digital tokens. Social media platforms, with a large user base, are seen as an attractive area for the crypto...
  • Federal Reserve chairman Jerome Powell is likely to announce the plan for the balance sheet reduction program in June. Photo: Reuters

    Fed’s upcoming move to impact properties more than stocks

    - Feb 19, 2019 3:03pm
    The recent market rally was largely fueled by dovish remarks from Federal Reserve chairman Jerome Powell. The US central bank indicated that it would decide on the roadmap for suspending its program to reduce the bonds on...
  • A file picture shows the A380 aircraft taking off on its maiden flight from Toulouse, France on April 27, 2005. Airbus has announced that will stop making the double-decker plane due to insufficient orders. Photo: Bloomberg

    How Airbus was wrong-footed in its A380 bet

    - Feb 19, 2019 1:30pm
    Airbus announced that it would stop making the double-deck A380 superjumbo jet in 2021, after having poured in billions into research and production of the world’s largest passenger airliner. Initially, Airbus took on the superjumbo jet...
  • Poor performance of Siri voice assistant is believed to be among the reasons why sales of Apple's HomePod speakers have been tepid. Photo: Bloomberg

    Why Apple needs to enhance its Siri voice tool

    - Feb 19, 2019 1:29pm
    With iPhone sales slowing, Apple is taking a fresh look at its business and realigning its priorities in a bid to enhance the services income and catch up on rivals in aspects such as artificial intelligence...
  • The development of the Xuexi Qiangguo app by Alibaba is the latest example of a Chinese tech company collaborating with the government. Photo: Reuters/AFP

    Alibaba behind hit Chinese Communist Party app: report

    Feb 19, 2019 9:47am
    A Chinese government propaganda app that recently became a huge hit was developed by Alibaba, Reuters reports, citing two people at the company. “Xuexi Qiangguo”, which literally translates as “study to make China strong” and is...
  • Britain believes it can manage any risks arising from use of Huawei  equipment, according to a report. Photo: Reuters

    Britain doesn’t support total Huawei network ban: report

    Feb 19, 2019 9:44am
    British security officials do not support a full ban of Huawei from national telecoms networks despite US allegations the Chinese firm and its products could be used by Beijing for spying, Reuters reports, citing sources with...
  • Facebook has been accused by British lawmakers of intentionally and knowingly violating data privacy and anti-competition laws. Photo: Reuters

    UK lawmakers slam Facebook and call for more regulation

    Feb 19, 2019 9:22am
    Facebook intentionally breached data privacy and competition law and should, along with other big tech firms, be subject to a new regulator to protect democracy and citizens’ rights, British lawmakers said on Monday. In a damning...
  • The US auto industry has called on Washington not to impose import tariffs, warning of the risk of increased costs. Photo: Bloomberg

    Auto industry lines up against possible US tariffs

    Feb 19, 2019 9:11am
    The US auto industry on Monday urged the Trump administration not to saddle imported cars and auto parts with steep tariffs, warning that the move would increase the costs for automakers and put jobs at risk,...
  • Since 2015, China's central bank had altered its monetary tools to ensure that liquidity is delivered to the right areas of the real economy. Photo: Reuters

    China: Time to open the monetary tool box

    - Feb 18, 2019 2:46pm
    The swift move in CSI 300 shares year to date appears to have wrong-footed investors, given that economic data releases are still poor. Meanwhile, authorities have begun to expand their monetary tool kit to ensure the...
  • The Hong Kong-Zhuhai-Macao Bridge, which opened on Oct. 24, is seen as part of China's plan for the Greater Bay Area. Photo: CNSA

    Opinions mixed on HK future under Greater Bay Area plan

    Feb 18, 2019 2:23pm
    As Beijing is to unveil the blueprint for the Guangdong-Hong Kong-Macao Greater Bay Area, which is home to nearly 70 million people, opinions on the impact of the plan on Hong Kong are widely divided. The Outline...
  • CMIG had sought to combine state support with the efficiency of private firms to focus on strategic investments in finance, steel, solar energy and shipbuilding. Photo: CMIG

    How China private investment giant CMIG got mired in debt crisis

    - Feb 18, 2019 1:17pm
    China Minsheng Investment Group (CMIG) recently failed to make a bond repayment.  The group was jointly set up by 59 businessmen in 2014. Chinese Premier Li Keqiang attended the signing ceremony back then, underlying the central...
  • Didi Chuxing, China's largest ride-hailing services firm, is said to be planning to take on Uber in Latin America markets. Photo: Bloomberg

    China’s Didi plans to enter Chile, Peru markets: report

    Feb 18, 2019 9:30am
    Chinese ride-hailing giant Didi Chuxing is planning to take on US rival Uber in some of Latin America’s fastest-growing markets, recruiting managers in Chile, Peru and Colombia, Reuters reports, citing job postings and a company official....
  • Private and foreign firms should 'actively participate' in reform and development of Chinese central state enterprises, says SACAC chief Xiao Yaqing. Photo: Bloomberg

    China aims to lure foreign investment into large SOEs

    Feb 18, 2019 9:20am
    China will seek to attract foreign investment into its larger state-owned enterprises (SOEs), which are undergoing reforms to make them more competitive, Reuters reports, citing the nation’s state asset regulator. Private and foreign firms should “actively...
  • China's largest commercial bank is expected to kick off operations in its wealth management unit soon. Photo: Bloomberg

    ICBC wins nod to set up wealth management unit

    Feb 18, 2019 9:08am
    Industrial and Commercial Bank of China (ICBC), the country’s biggest-listed lender by assets, has won approval to set up a wealth management unit, Reuters reports. China’s five major commercial banks that have won a green light...

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