The US dollar is weakening this morning after comments from president-elect Donald Trump that the greenback was “too strong” against the Chinese currency. “Our companies can’t compete with them [Chinese companies] now because our currency is too strong. And it’s killing us”, Mr Trump told the Wall Street Journal. His comments have helped soften the dollar index, which measures the greenback against a basket of its major […]
Baidu has announced the appointment of Dr Qi Lu as its group president and chief operating officer, who will be responsible for the organisation’s products, technology, sales, marketing, and operations, effective immediately. Lu joins the search engine giant from Microsoft, where he served as the company’s global executive vice president and led Microsoft’s Office business. Prior to Microsoft, Lu was senior vice president in charge of search […]
By Tom Westbrook and Jonathan Barrett | SYDNEY SYDNEY The deep-sea search for missing Malaysia Airlines flight MH370 ended on Tuesday without any trace being found of the plane that vanished in 2014 with 239 people on board, the three countries involved in the search said. The location of Flight MH370 has become one of the world’s greatest aviation mysteries since the plane disappeared en route to […]
MANILA Philippines President Rodrigo Duterte will meet on Tuesday with China’s Vice Foreign Minister Liu Zhenmin, the most high-profile Chinese visitor since he took power last year and launched surprise moves to engage with historic rival Beijing. Duterte will meet Liu late in the day in what presidential spokesman Ernesto Abella said was nothing more than a courtesy call. Liu was meeting foreign ministry counterparts to discuss […]
By Noah Barkin | DAVOS, Switzerland DAVOS, Switzerland Chinese President Xi Jinping will defend globalisation in the face of mounting public hostility in the West on Tuesday in a speech at the World Economic Forum that will underline Beijing’s growing global role. Xi’s appearance, a first for a Chinese leader at the annual meeting of political leaders, CEOs and bankers in Davos, comes as the part the […]
BEIJING Cadillac, General Motors Co’s (GM.N) luxury brand, is predicting a double digit growth rate in China sales this year, the brand’s country chief Andreas Schaaf told Reuters on Tuesday. The brand – which opened its first dedicated factory in China last year, helping boost Cadillac sales in the country by 46 percent – expects China to become its top market in less than five years, Schaaf […]
Tuesday 02.00 GMT Overview Stocks were putting in a mixed performance in Asia, while currencies fluctuated as markets braced for the impact of a speech by UK Prime Minister Theresa May laying out her administration’s Brexit blueprint. Hot topic The Japanese yen rallied as some traders initially sought havens, strengthening as much as 0.3 per cent before swinging back to be 0.1 per cent weaker at ¥114.26 […]
Asset price movements in the past few weeks have pointed both to the upside and a major risk for the global economy and markets under a Trump administration. Enthusiasm over higher US growth powering the global economy has been tempered at times by worries that certain elements of the president-elect’s “America First” approach could undermine longstanding trading relationships, opening up the risk of economic and financial disruptions. […]
Ken Miller Crunch Network Contributor Ken Miller is an investor, writer, and advisor to several technology companies and Venture Capital firms. Previously he was an Executive at PayPal and Intuit, and early Advisor to Square. More posts by this contributor: How to join the network Pundits and Monday morning quarterbacks have spent much of the last two months lost in a fog of speculation and assertions as […]
Canceling nearly 90% of cash in circulation cost India the mantle of world’s fastest-growing large economy in 2016, the International Monetary Fund said, though it categorized the slowdown as temporary. India’s growth slowed to 6.6% last year from 7.6% in 2015, according to the fund’s latest World Economic Outlook, which estimates that China’s economy grew by 6.7% in 2016. The fund expects India’s expansion to bounce back […]
He was the president who took out Osama bin Laden but was blindsided by Isis; who made Asia his priority but saw his trade deal for the region stymied; who built bridges with once sworn enemies in Cuba and Iran but who sparred with allies in Israel and Saudi Arabia. The mixed and sometimes messy foreign policy legacy of Barack Obama includes a climate change agreement and […]
By Noah Barkin | DAVOS, Switzerland DAVOS, Switzerland A trade war between the United States and China and a strengthening dollar are among the biggest threats to a brightening global economic outlook, according to leading economists at the World Economic Forum in Davos. As political leaders, businessmen and bankers converge on the resort in the Swiss Alps this week, they can draw hope from a more benign […]
Source: United Nations University Hong Kong and Singapore in 2015 produced the highest volume of e-waste in the region, generating 21.7kg and 19.95kg, respectively, per capita. At 19.13kg per capita, Taiwan rounded up the top three e-waste producers, while China more than doubled its production between 2010 and 2015–at 107 percent–to 6.7 million tonnes. Across East and Southeast Asia, the average e-waste generation per capita was 10kg […]
China on Monday approved the resignations of two of Hong Kong’s top officials, including its financial secretary, paving the way for them to contest a March election to become the next chief executive of the financial hub. China’s State Council has accepted the resignations of financial secretary John Tsang, and of Carrie Lam, the city’s chief secretary, the official Xinhua news agency said. The former British colony […]
DUBAI/TEHRAN: Iran will not renegotiate its nuclear agreement with world powers, even if it faces new US sanctions after Donald Trump becomes president, Deputy Foreign Minister Abbas Araghchi said on Sunday.US “hostility” to Iran is growing day by day despite Tehran’s nuclear deal, the senior Iranian official said, ahead of the first anniversary of the historic accord.“The United States has done whatever it can do (to) slow […]
Seldom have such small chips carried such a heavy load. China’s fledgling semiconductor industry, after a messy birth, now finds itself in the crosshairs of conflicting political goals in Beijing and Washington. Chips are a key plank of China’s industrial plans, attracting a massive $150bn government subsidy. This reflects national angst over reliance on overseas markets — it spends more on importing semiconductors than oil — and […]
Monday 02.10 GMT Overview Asian markets were mostly lower despite bank-led gains for Wall Street on Friday but the spotlight was on the British pound as it tumbled to a four-month low amid heightened expectations of a “hard Brexit”. Hot topic Sterling was down 1.3 per cent at $1.2027 after falling as low as $1.1986 in early Asian trading, ahead of a speech on Tuesday in which […]
BOGOR Japan Prime Minister Shinzo Abe said during his visit to Indonesia on Sunday that it is important to solve the South China Sea conflict peacefully. “About the South China Sea conflict, we assert the importance of the principle of solving a dispute peacefully,” Abe said after meeting Indonesian President Joko Widodo at the presidential palace in Bogor. (Reporting by Jakarta bureau; Writing by Eveline Danubrata; Editing […]
DAVOS, Switzerland – The global economy is in better shape than it’s been in years. Stock markets are booming, oil prices are on the rise again and the risks of a rapid economic slowdown in China, a major source of concern a year ago, have eased. And yet, as political leaders, CEOs and top bankers make their annual trek up the Swiss Alps to the World Economic […]
Chinese linguist Zhou Youguang, considered the father of the Pinyin system used to represent the pronunciation of Chinese characters and who was an outspoken critic of the ruling Communist party, has died in Beijing at the age of 111. Born to a wealthy family in 1906 when a Qing Dynasty emperor was on the throne, Zhou’s life spanned China’s tumultuous and often tragic twentieth century. He witnessed […]
LONDON (Thomson Reuters Foundation) – Gul Bibi, an Afghan grandmother well into her eighties, never expected to become a fighter. But now she is one of more than a hundred women in Afghanistan’s northern Jawzjan province who have taken up arms against Islamist militants. Nearly all of the women have lost a husband, son or brother to the Taliban or the newly active Islamic State in the […]
By Jane Lanhee Lee | SAN FRANCISCO SAN FRANCISCO Taiwan President Tsai Ing-wen, carving a careful diplomatic path on her stopovers in the United States, visited the headquarters of micro-messaging service Twitter Inc on Saturday and reactivated an old account. “Had a great visit to @Twitter HQ today. Thank you to @vijaya and team for showing us around!” read her first tweet from her old account in […]
The head of Dubai Land Department (DLD) has predicted an rebound for the city’s real estate market this year, signaling an upward trend for sustained growth in the run-up to Expo 2020. Sultan Butti Bin Merjen, director general of DLD made the comments in an annual report for 2016 which revealed that total real estate transactions in Dubai exceeded AED259 billion ($70.5 billion). This was marginally down […]
The world is taking advantage of the many benefits that the Internet of Things has to offer. However, along with these benefits comes the great threat of DDoS attacks and data breaches. What Is DDoS? DDoS refers to Distributed Denial of Service, and this type of cyber attack is meant to compromise an online service by overwhelming the server through multiple sources. Such attacks are not new, and certain […]
