Date
15 October 2018

Business

  • Tencent partnership is expected to help Nubank develop further in areas such as payments, consumer loans and machine learning. Photo: Nubank

    Tencent invests in Brazil fintech startup Nubank

    Oct 9, 2018 1:36pm
    Chinese internet giant Tencent (00700.HK) has acquired a minority stake in Nu Pagamentos SA, a Brazilian financial technology firm that offers virtual credit cards, in a deal worth US$180 million. The transaction marks Tencent’s debut in...
  • Hawkish comments from US Fed chair Jerome Powell led to the benchmark US 10-year bond yield spiking to a fresh seven-year high last week. Photo, Reuters

    Rising interest rates to pressure asset prices

    - Oct 9, 2018 10:46am
    Following the comment by US Federal Reserve Chairman Jerome Powell last week that “we’re a long way from neutral at this point”, the 10-year US treasury yield spiked above 3 percent. The decade-long bond market boom...
  • IMF chief economist Maurice Obstfeld said "US growth will decline once parts of its fiscal stimulus go into reverse". Photo: Bloomberg

    IMF cuts world economic growth forecasts as import tariffs bite

    Oct 9, 2018 10:35am
    The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and the imposition of import tariffs were taking a toll on commerce while emerging markets...
  • US President Donald Trump seems to think that multilateralism dilutes American power, given that the United States can always use its economic and geopolitical clout to win a bilateral dispute. Photo: AFP

    What’s behind Trump’s trade war?

    - Oct 9, 2018 10:02am
    Since World War II’s end, trade has grown 50 percent faster than global GDP, owing largely to successive rounds of liberalization under the auspices of the World Trade Organization (previously the General Agreement on Tariffs and...
  • Google is shutting down the Google+ social platform after admitting to a security flaw that exposed users' personal information. Photo: Reuters

    Google+ social site to be shut down after user data exposed

    Oct 9, 2018 9:25am
    Google will shut down the consumer version of its failed social network Google+ and tighten its data sharing policies after announcing on Monday that private profile data of at least 500,000 users may have been exposed...
  • Aside from ride-hailing, Grab offers other services such as food and parcel deliveries, electronic money transfers, micro-loans and mobile payments. Photo: AFP

    Microsoft to invest in Southeast Asian ride-hailing firm Grab

    Oct 9, 2018 9:21am
    Microsoft Corp. is investing in Southeast Asian ride-hailing firm Grab as part of a partnership that the two companies said will allow them to collaborate on technology projects, including big data and artificial intelligence, Reuters reports....
  • The Portal smart speaker has a wide-angle camera that automatically keeps users in focus as they move about a room. Photo: Facebook via Reuters

    Facebook debuts smart speaker for Messenger video calls

    Oct 9, 2018 9:02am
    Facebook Inc. released a smart speaker designed to ease video calls, but the company’s history of privacy mishaps and the device’s price and limited functionality could slow it from taking on market leaders Amazon.com Inc. and...
  • The move taken by the new government of Prime Minister Imran Khan seeks to ease Pakistan's mounting balance of payments crisis. Photo: Reuters

    Pakistan’s new government to seek IMF assistance

    Oct 9, 2018 8:36am
    Pakistan’s new government will open talks with the International Monetary Fund for emergency financial assistance to ease a mounting balance of payments crisis, Reuters reports, citing the finance ministry. New Prime Minister Imran Khan spent nearly...
  • A woman shops for onions at a market in Caracas on Monday. Photo: Reuters

    Venezuela’s annual inflation hits 488,865 percent in September

    Oct 9, 2018 8:15am
    Venezuelan consumer prices rose 488,865 percent in the 12 months ending in September, Reuters reports, citing a member of the opposition-run congress. Daily inflation is now 4 percent, according to opposition legislator Angel Alvarado, with monthly...
  • Turkey and Argentina have both seen their currencies plummet and the value of their USD denominated bonds crash. Photo: Reuters

    Looking beyond the headlines in emerging markets

    - Oct 8, 2018 5:05pm
    There’s no denying the fact that emerging markets (EM) have faced a perfect storm of external risks this year. The rising dollar, the Federal Reserve’s commitment to raising rates, the looming threat of a US-China influenced...
  • Supermicro shares took a pounding after a media report suggested that Chinese spies were able to add tiny surveillance chips in server motherboards from the company's China factories. Photo: Supermicro

    Why the China ‘spy chip’ report is not totally convincing

    - Oct 8, 2018 4:51pm
    US Vice President Mike Pence delivered a wide-ranging speech to step up attack on China last Thursday, leading to the impression that US-China relations are deteriorating further rapidly. Meanwhile, Bloomberg Businessweek published a report saying that...
  • Sky News reported that Lloyds Banking Group was to merge its 13 billion pound (US$17 billion) wealth management arm into a new joint venture with Schroders. Photo: Reuters

    Schroders, Lloyds in talks over wealth management alliance

    Oct 8, 2018 9:01am
    Asset manager Schroders Plc and Lloyds Banking Group said they are in discussions over a wealth management alliance, Reuters reports. The deal would be among the biggest wealth management tie-ups in recent years and would come...
  • Apple said it has repeatedly investigated and found no evidence for allegations in a Bloomberg report that, among other things, chips inside servers sold to Apple by Super Micro Computer Inc. allowed for backdoor transmissions to China. Photo:AFP

    Apple tells US Congress it found no signs of hacking attack

    Oct 8, 2018 8:49am
    Apple Inc.’s top security officer told the US Congress that it had found no sign of suspicious transmissions or other evidence that it had been penetrated in a sophisticated attack on its supply chain, Reuters reports....
  • Gold can be a hedge against both inflation and policy errors by central banks. Photo: Reuters

    Beware inflation: it lurks before it spikes

    - Oct 8, 2018 8:48am
    There was a time when investors feared inflation, but it hasn’t been much of a factor for almost four decades – neither in the global economy nor in many investors’ strategies. This has led to a...
  • The People's Bank of China said it will continue to take necessary measures to stabilize market expectations, while maintaining a prudent and neutral monetary policy. Photo: Bloomberg

    China slashes bank reserve requirements amid trade war

    Oct 8, 2018 7:13am
    China’s central bank announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth amid an escalating trade dispute with the United...
  • The Faster Payment System (FPS) allows instant money  transfer or bill payment via a swipe of the QR code on the user's mobile phone. Photo: CNSA

    Faster payment system pushes HK towards cashless society

    - Oct 5, 2018 6:35pm
    The Hong Kong Monetary Authority (HKMA), the de facto central bank, has recently unveiled the Faster Payment System (FPS). The system, operated by Hong Kong Interbank Clearing Limited, allows instant money transfers and bill payments via the...
  • Ascletis Pharma chairman Jason Wu celebrates his firm's listing under the new rules of the Hong Kong Stock Exchange on Aug. 1. Photo: Bloomberg

    HK bourse poised to attract many more biotech companies

    - Oct 5, 2018 11:24am
    The Hong Kong Stock Exchange (HKEx) has recaptured its title as the world’s top market for initial public offerings.  After placing third behind Nasdaq and the Shanghai Stock Exchange last year, HKEx carried out its biggest...
  • The technology uses algorithms to examine the fat surrounding coronary arteries as it shows up on CT scans. Photo: Internet

    Tech breakthrough offers early warning system for heart attacks

    Oct 5, 2018 9:10am
    A new method of analyzing images from CT scans can predict which patients are at risk of a heart attack years before it occurs, Reuters reports. The technology, developed by teams at Oxford University and institutions...
  • Cadillac’s Super Cruise did “the best job of balancing high-tech capabilities with ensuring the car is operated safely and the driver is paying attention”, Consumer Reports said. Photo: AFP

    Cadillac edges Tesla in semi-automated driving test

    Oct 5, 2018 8:36am
    General Motors Co.’s Cadillac outscored Tesla Inc. in a new ranking of partially automated driving systems tested by Consumer Reports. The highly influential nonprofit organization, which tests and rates a variety of consumer products from mattresses...
  • Tencent Music Entertainment Group has filed for an initial public offering in the United States that seeks to value the company at about US$25 billion. Photo: Reuters

    Is Tencent Music’s business model sustainable?

    - Oct 5, 2018 8:31am
    Tencent Holdings (00700.HK) is implementing a corporate restructuring plan that aims to turn the internet giant into an enterprise-focused service provider. While doing so, the company is spinning off some of its valuable assets. In its latest...

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