Secretary of State Rex Tillerson, the former Exxon CEO, is undoubtedly familiar with “tone at the top,” a term coined by audit firms and drilled home by business ethicists in the wake of financial scandals at Xerox, Enron and Arthur Andersen. When corporate leaders fail to model tone at the top by upholding principles, corners are cut and lapses trickle down and poison institutional culture. And yet […]
BEIJING Even as Chinese Premier Li Keqiang pledges to ensure that blue skies never become a luxury, a state-backed firm is doing brisk business selling 48 yuan ($6.95) cans of fresh air bottled in a forest in western China. Each bottle is good for two minutes of uninterrupted use. From air-filter necklaces to anti-smog stockings, Chinese companies are touting innovative – if not odd – products to […]
By Sijia Jiang | HONG KONG HONG KONG Chinese technology conglomerate LeEco is looking to sell a 49-acre U.S. Silicon Valley property less than a year after buying it from Yahoo Inc, sources said, in what is the latest effort by the firm to ride out a cash crunch. LeEco, one of China’s most ambitious companies that grew from a Netflix-like video website to a business empire […]
Saudi Arabia’s push to boost political and trade ties with the Maldives faces growing resistance as activists in the archipelago oppose plans for an ambitious development project funded by the kingdom. King Salman bin Abdulaziz, who is on a month-long tour of Asia as Saudi Arabia seeks to deepen alliances with predominantly Muslim states in the region, is due to visit the Indian Ocean nation at the […]
Overall, there was a 17% increase in the number of companies in MEA in 2016 compared to 2015, with Johannesburg being the leading destination for Africa JOHANNESBURG, South Africa, March 16, 2017 The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 countries, according to a new report released by Infomineo (www.Infomineo.com ), a global business research company specialising in […]
By Jackie Cai and Adam Jourdan | SHANGHAI SHANGHAI China’s annual consumer rights day TV show turned its spotlight on U.S. sports brand Nike Inc (NKE.N) for misleading advertising and Japanese brand Muji for selling food products allegedly sourced from part of Japan affected by radiation. The state-run China Central Television (CCTV) show – which can have brands and their corporate PR teams scurrying to take evasive […]
From lush landscapes to buzzing cities, Vietnam is designed to dazzle. Few countries have changed so much in so little time. This intrepid corner of Southeast Asia has persevered through colonialism, communism, war and poverty, and like the proverbial phoenix, has risen again to claim top spots on countless bucket lists. Prepare for sensory overload. Though it has not forgotten its past, Vietnam has come roaring into […]
The White House will propose large spending cuts on Thursday for the state department, public broadcasting and environmental programmes as part of its preliminary budget for the 2018 fiscal year. Administration aides call it an “America First” budget — with greater spending on defence, law enforcement and veteran affairs, as well as new education programmes that emphasise school choice. The last are a pet project of Betsy […]
With the oil market showing signs of losing faith in a price rebound, Opec is now asking itself: what more can it do? Production cuts agreed late last year between some of the world’s biggest producers inside and outside the cartel, are losing their sway given the near 10 per cent drop in the Brent benchmark over the past week. Brimming global storage tanks and a resurgent […]
It is fitting that just a few hours until the Fed’s second rate hike in two quarters, and one day after Goldman downgraded global stocks to Neutral for the next 3 months, not to mention with the results of the anticipated Dutch election due shortly, that global stocks as well as S&P futures are higher, while crude oil has finally managed to stage a rebound as the […]
SEOUL Chinese authorities have arrested two South Korean Christian pastors, accusing them of helping to smuggle North Korean defectors out of China, the Yonhap news agency said on Wednesday. The arrests come amid tension between South Korea and China over the latter’s vociferous objections to the deployment in South Korea of a U.S. missile defense system that China says will destabilise the balance of security in the […]
By Kevin Yao and Ryan Woo | BEIJING BEIJING China’s Premier Li Keqiang reassured investors on Wednesday that the world’s second-largest economy is strong and not at risk of a hard landing, while stressing Beijing’s support for globalization and free trade at a time of rising protectionism. Li also reiterated that China does not want a trade war with the United States, and urged talks with Washington […]
Shares in Cathay Pacific fell as much as 6.9 per cent on Wednesday after the Hong Kong flag carrier swung to its first annual loss since 2008. The airline reported a net loss of HK$575m ($74m) for 2016 in the face of increased competition from mainland Chinese airlines and falling demand for its premium class seats. The net loss compares with a HK$6bn profit reported in 2015, […]
China plans to introduce a bond trading link between Hong Kong and the mainland by year-end, according to premier Li Keqiang. Dubbed “Bond Connect”, the programme would operate alongside the existing Stock Connect system that allows international and mainland investors their only direct access to each others’ markets. On Wednesday, the Chinese premier said: “We are preparing to implement for the first time this year a bond […]
TAIPEI China’s accelerated military development and recent activity by its military aircraft and ships around Taiwan pose an increased threat to the self-ruled island, according to a Taiwanese government defence report draft reviewed by Reuters. The 2017 Quadrennial Defence Review (QDR) also highlights the uncertainty over the future strategic direction of the United States in the region, the impact of Japan flexing its military capabilities and “conflict […]
BEIJING Chinese Premier Li Keqiang said on Wednesday that China hopes to maintain peace and stability in the South China Sea by pushing forward with negotiations for a code of conduct for rival claimants in the disputed waters. Addressing a news conference at the end of the annual meeting of China’s parliament, Li said that “substantive progress” has been made on the code. Negotiations began in 2010 […]
WASHINGTON The U.S. and South Korean military chiefs warned on Tuesday that North Korea could “conduct provocative actions” in response to large-scale joint drills between the two countries, as China’s premier also said tensions could lead to conflict. “The chairmen recognized the possibility that North Korea could conduct provocative actions during the Key Resolve/Foal Eagle exercise, or in connection with North Korean major political events in April,” […]
Towards the end of British writer China Mieville’s latest fantasy novella, his young protagonist, Thibaut, muses: “Something doesn’t make sense.” “Really?” replies Sam, his mysterious sidekick. “Just one thing?” It’s not an altogether unexpected line: after all, Thibaut has just destroyed a centaur that is part giant, part Second World War German panzer tank. In a world in which the Nazis are still in power in the […]
By Yeganeh Torbati | OVER THE PACIFIC OCEAN OVER THE PACIFIC OCEAN U.S. Secretary of State Rex Tillerson is traveling to Asia this week accompanied by only one reporter, a White House correspondent from the Independent Journal Review (IJR), a digital news outlet founded in 2012 by former Republican political operatives. The IJR said in a statement late Tuesday the State Department last week offered one of […]
Wednesday 02:40 GMT Overview A rally in crude oil prices that erased the losses of the previous session failed to bolster energy stocks in Asia, as bond and currency traders also shunned major moves ahead of the US Federal Reserve’s interest rates decision later in the day. Hot topic Crude was climbing in Asia after a slide on Tuesday. Brent, the international benchmark, was up 1.3 per […]
Image: WayRay Augmented reality (AR) navigation startup WayRay has raised $18 million in a Series B round led by China’s Alibaba Group. The latest round brings the total amount raised by the Swiss startup to $30 million. WayRay, which develops holographic AR navigational solutions for connected cars, has also entered into a partnership deal with China’s Banma Technologies, an Alibaba and SAIC Motors-backed internet-connected car maker, to […]
Ant Financial Services Group, the financial services affiliate of China’s Alibaba Group Holding Ltd (BABA.N), said on Tuesday it remained committed to the consummation of its merger with U.S. money-transfer company MoneyGram International Inc (MGI.O), after Euronet Worldwide Inc (EEFT.O) trumped its offer. U.S. electronic payments company Euronet Worldwide launched a $1 billion bid for MoneyGram on Tuesday, saying that its all-American deal would face less regulatory […]
French explorer Gauthier Toulemonde has begun his journey through Oman’s deserts starting from Wilayat Adam, Al Dakhiliya governorate, where he will cross The Empty Quarter and Al Sharqiya Sands. Toulemonde said his journey will be covered through his social media accounts while he will also send postcards and letters through the mail to his friends around the world to share his experience in Oman. Having previously trekked […]
GENEVA, Switzerland: The Assad regime came under fire from two UN bodies on Tuesday, one of which accused Syria’s air force of deliberately bombing water sources in December and another saying Syria has become a “torture chamber.”In a report, the UN Independent International Commission of Inquiry on Syria said that the deliberate act of bombing water sources, which cut off water for 5.5 million people in and […]
