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SoftBank fund seeking to invest in Chinese AI giant SenseTime

SoftBank fund seeking to invest in Chinese AI giant SenseTime

A 4-year-old startup, SenseTime makes systems that analyse faces and images on a huge scale and contributes to China’s vast surveillance system. SenseTime Co-Founder Xu Chiheng demonstrates his company’s surveillance software on a laptop at the SenseTime office in Beijing, China, October 2017. (Reuters pic) HONG KONG: SoftBank Vision Fund is seeking to invest almost US$1 […]

July 20, 2018 | By | Reply More
India government stalls Facebook’s WhatsApp payments launch

India government stalls Facebook’s WhatsApp payments launch

The country’s Ministry of Electronics and Information Technology, or MEITY, has asked WhatsApp and its partner banks to supply more details about the payments system, and for the National Payments Corporation of India to confirm that WhatsApp is fully compliant with its requirements. A man poses with a smartphone in front of displayed Whatsapp logo […]

July 20, 2018 | By | Reply More
Sanctions push North Korea’s economy into reverse

Sanctions push North Korea’s economy into reverse

Gross domestic product in North Korea suffered its largest drop in 20 years. Sanctions placed on North Korea have damaged its economy. (Bloomberg pic) SEOUL: North Korea’s economic trajectory has gone from surprisingly strong growth in 2016 to a sharp contraction last year, and worse is yet to come. Estimates from South Korea’s central bank show […]

July 20, 2018 | By | Reply More
US auto tariffs would cut 6 billion euros from German GDP, DIHK says

US auto tariffs would cut 6 billion euros from German GDP, DIHK says

According to DIHK President Eric Schweitzer, the tariffs would cause job losses across Germany. Tariffs to be placed on German cars have been said to violate international law. (Reuters pic) BERLIN: United States tariffs on imported cars would slash around 6 billion euros (RM28 billion) off German economic output, the president of Germany’s DIHK Chambers […]

July 20, 2018 | By | Reply More
Luxury group Hermes sees H1 operating profits remaining near record levels

Luxury group Hermes sees H1 operating profits remaining near record levels

Hermes’s strong sales increase in China shows that demand for luxury goods in that country has remained resilient despite slower economic growth and the trade war dispute between China and the US. A shopper carries a Hermes International SCA shopping bag outside the Siam Paragon shopping mall in Bangkok, Thailand, on Wednesday, June 21, 2017. […]

July 20, 2018 | By | Reply More
Tony Fernandes: AirAsia X to seek IPO for Thai operation

Tony Fernandes: AirAsia X to seek IPO for Thai operation

AirAsia X will also focus on countries where it can dominate, such as Japan, Korea, Australia, China and India. AirAsia Group Bhd co-CEO Tony Fernandes says the airline will report ‘pain’ in the second and third quarters as it cancels ineffective routes and business partnerships to focus on building a sustainable model. (AFP pic) SINGAPORE: […]

July 20, 2018 | By | Reply More
Trump faces global heat for car tariffs

Trump faces global heat for car tariffs

Auto groups, industry workers and foreign governments condemned the idea of raising duties on cars, saying the imposition of tariffs jeopardises supplier jobs and investments in the United States. U.S. tariffs could raise auto prices by $83 billion: trade group (Reuters pic) WASHINGTON: Companies and governments from Europe to Asia are warning President Donald Trump […]

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Co-CEO: AirAsia X to seek IPO for Thai arm soon as it looks to restructure

Co-CEO: AirAsia X to seek IPO for Thai arm soon as it looks to restructure

On Thursday, Fernandes told reporters that when two more leased jets arrive in April 2019, the Thai arm will launch new flights from Bangkok to Prague, Vienna and Stockholm. An AirAsia X Airbus A340 passenger jet arrives on its inaugural flight from Kuala Lumpur to Paris Orly Airport February 14, 2011. (Reuters pic) SINGAPORE: Long-haul […]

July 20, 2018 | By | Reply More
Rupert Murdoch continues to laugh all the way to bank

Rupert Murdoch continues to laugh all the way to bank

The media mogul’s US$71 billion sale of 21st Century Fox Inc assets to Walt Disney Co will cement his legacy as one of the media world’s top wheeler-dealers. Media mogul Rupert Murdoch and Jerry Hall pose for a photograph in London, Britain, March 2016. (Reuters pic) LOS ANGELES: Rupert Murdoch had one more blockbuster deal in […]

July 20, 2018 | By | Reply More
Saudis profiting from US-China trade war

Saudis profiting from US-China trade war

The surge in demand for LPG is having an effect on contract prices that buyers elsewhere in Asia pay for Saudi cargoes, meaning higher prices across the board for all customers to which Aramco supplies long-term cargoes. Saudi Aramco’s Wasit Gas Plant, Saudi Arabia, December 2014. (Reuters pic) SINGAPORE: Saudi Aramco is winning thanks to US […]

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