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Uber CEO plans closer ties with Toyota on autonomous driving

Uber CEO plans closer ties with Toyota on autonomous driving

For Toyota, closer ties could help it keep up with rivals like Nissan Motor Co, which is working on its own autonomous solution. SAN FRANCISCO: The world’s largest carmaker and the world’s biggest ride-hailing company plan to team up on autonomous driving as technological changes sweep through the transportation industry. On Thursday, Dara Khosrowshahi, CEO […]

February 22, 2018 | By | Reply More
In rural Germany, ‘mobile banking’ means a bank on a truck

In rural Germany, ‘mobile banking’ means a bank on a truck

TSCHIRN: Bank manager Juergen Schaller never expected to end up getting a trucker’s licence and driving 20,000 kilometres (12,400 miles) per year. But as brick-and-mortar branches vanish from the rolling Franconia region of northern Bavaria, the neatly dressed savings bank executive jumps behind the wheel four days a week to bring mobile services — including […]

February 21, 2018 | By | Reply More
Zero yen: Japanese cryptocurrency exchange briefly trips up trade

Zero yen: Japanese cryptocurrency exchange briefly trips up trade

The incident comes after hackers stole US$530 million in digital money from Coincheck last month. TOKYO: A Japanese cryptocurrency exchange undergoing checks by regulators has said a system failure let investors briefly trade a digital currency for zero yen, highlighting security concerns about such assets after last month’s cyberheist at Coincheck Inc. Zaif, an exchange […]

February 21, 2018 | By | Reply More
GM offers US$2.8 billion new Korea investment plan, lawmaker says

GM offers US$2.8 billion new Korea investment plan, lawmaker says

SEOUL: General Motors Co has offered a US$2.8 billion new investment plan for its South Korean business after threatening to exit the country amid mounting losses, a lawmaker from the nation’s ruling party said. The investment, being proposed for the next 10 years in South Korea, is needed to produce new models, for research and […]

February 21, 2018 | By | Reply More
Venezuela begins selling oil-backed cryptocurrency

Venezuela begins selling oil-backed cryptocurrency

A total of 100 million Petros will go on sale, with an initial value set at $60, based on the price of a barrel of Venezuelan crude in mid-January. CARACAS: Venezuela formally launched its new oil-backed cryptocurrency on Tuesday in an unconventional bid to haul itself out of a deepening economic crisis. The leftist Caracas […]

February 21, 2018 | By | Reply More
Malaysia’s HelloGold adds shariah-compliant certification to cryptocurrency

Malaysia’s HelloGold adds shariah-compliant certification to cryptocurrency

Malaysia’s HelloGold adds shariah-compliant certification to cryptocurrency Reuters KUALA LUMPUR: Malaysia-based firm HelloGold has received a shariah-compliant certification for its gold-backed cryptocurrency and plans to launch its online gold platform in Thailand later this year, the company said. Its cryptocurrency product, dubbed GOLDX, was launched at the end of last year and has now received […]

February 20, 2018 | By | Reply More
Sony forms alliance with cabs as Uber steps up Japan presence

Sony forms alliance with cabs as Uber steps up Japan presence

Sony will develop a ride-hailing app powered by artificial intelligence and provide a payment service. TOKYO: Sony Corp is jumping into the ride-hailing fray. The Japanese electronics maker plans to form a joint venture with six taxi operators in Japan this spring, according to a statement on Tuesday. The alliance comes as Uber Technologies Inc, […]

February 20, 2018 | By | Reply More
Singapore property developers fall after higher home purchase tax

Singapore property developers fall after higher home purchase tax

SINGAPORE: Shares of Singapore-listed property developers were among the top losers on the main index, following an increase in stamp duty on expensive home purchases that came into effect on Tuesday. The wealthy city-state will apply a new top marginal rate of 4% stamp duty on the portion of residential property value in excess of […]

February 20, 2018 | By | Reply More
Nippon Steel worries about US trade action, yen’s surge

Nippon Steel worries about US trade action, yen’s surge

Japan’s biggest steelmaker fears tariffs could ‘flood’ Asia with steel. TOKYO: Nippon Steel & Sumitomo Metal Corp , Japan’s biggest steelmaker, is worried that potential US trade action to cut steel imports could flood Asia with products and that the yen’s recent surge may hurt customers such as carmakers. US President Donald Trump said early […]

February 19, 2018 | By | Reply More
Once OPEC’s oil-price dove, Saudi Arabia takes a harder line

Once OPEC’s oil-price dove, Saudi Arabia takes a harder line

RIYADH: For decades, Saudi Arabia was the voice of moderation within OPEC, pushing back against the urging of members like Venezuela and Iran for higher oil prices. That role seems to be shifting. Thanks to OPEC-led production cuts, crude prices are double their level two years ago and bloated oil stockpiles are almost back to […]

February 19, 2018 | By | Reply More