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Report: Australian identified as possible Bitcoin founder

Report: Australian identified as possible Bitcoin founder

SYDNEY: Australian entrepreneur Craig Wright has been identified by tech publications as possibly the mysterious founder of online cryptocurrency Bitcoin, shortly before his Sydney home was reportedly raided in a tax probe Wednesday. There has long been speculation about who was behind the software written in 2009 under the Japanese-sounding name Satoshi Nakamoto, with various […]

December 9, 2015 | By | Reply More
East Asia ageing faster than anywhere else

East Asia ageing faster than anywhere else

“All developing countries in the region risk getting old before getting rich,” says World Bank. BEIJING: The East Asia Pacific region is ageing at a faster rate than any other place in history, a demographic shift likely to cramp public services and economic growth the World Bank warned on Wednesday. The region— which spans from […]

December 9, 2015 | By | Reply More
Uber says obtains government approval to operate in Jakarta

Uber says obtains government approval to operate in Jakarta

JAKARTA: Uber Technologies Inc said on Tuesday it had received the green light from the Jakarta governor to operate in the Indonesian capital after giving assurances that it would comply with local tax rules and other requirements. Jakarta police had earlier this year deemed the US car-hailing service illegal, saying its drivers did not pay […]

December 9, 2015 | By | Reply More
Open but not trading: Myanmar launches fledgling bourse

Open but not trading: Myanmar launches fledgling bourse

YANGON: Myanmar officially launched its first modern stock exchange Wednesday, but without a single stock to trade, as the nation’s latest drive for economic revitalisation struggles to take flight. Aung San Suu Kyi’s pro-democracy party swept elections last month, boosting confidence in the former junta-run nation’s reforms. Myanmar’s launch of a bourse of its own […]

December 9, 2015 | By | Reply More
Oil gain fails to halt fresh slide on Asian markets

Oil gain fails to halt fresh slide on Asian markets

HONG KONG: A modest recovery in oil prices provided some respite for Asian energy firms Wednesday but stock markets extended losses as China’s ongoing economic woes cast a pall over the region’s trading floors. The cost of the black gold has plunged by almost a tenth since Friday’s refusal by the OPEC oil exporters’ group […]

December 9, 2015 | By | Reply More
Study: Low inflation to boost global pay

Study: Low inflation to boost global pay

December 9, 2015 Stronger consumer demand predicted as global pay rises to a three-year high. LONDON: The slowing world economy looks set to get a boost from stronger consumer demand next year, as low inflation boosts the real value of workers’ pay to a three-year high, a survey said on Tuesday. A plunge in oil […]

December 9, 2015 | By | Reply More
Indonesia turns to floating power stations to meet short-term needs

Indonesia turns to floating power stations to meet short-term needs

JAKARTA: Indonesia’s president launched the first of five new floating power stations on Tuesday, to serve as a stop gap for the country’s growing demand for power amid sluggish development of land-based plants. Southeast Asia’s largest economy has set an ambitious goal of building more than 35 gigawatts of power stations by 2019, the bulk […]

December 8, 2015 | By | Reply More
Osram exec defends new strategy, says change is needed

Osram exec defends new strategy, says change is needed

December 9, 2015 REGENSBURG: German lighting company Osram must change to survive, a senior manager said, defending a growth strategy focused on the LED market that was deemed risky and costly and that sent its shares tumbling last month. Osram, which is selling its traditional light bulbs business, said in November it would invest 1 […]

December 8, 2015 | By | Reply More
Desperate for bond returns? Maybe it’s time to try China

Desperate for bond returns? Maybe it’s time to try China

LONDON: It is still happening at a snail’s pace, but with yields stuck around zero across developed markets, the search for decent returns from government bonds is finally drawing the world’s biggest asset managers towards China. German five-year bonds yield less than nothing annually and their Spanish or Italian alternatives around half a percent. Even […]

December 8, 2015 | By | Reply More
Investors brace for oil price ‘lower for even longer’ after OPEC

Investors brace for oil price ‘lower for even longer’ after OPEC

SINGAPORE: Investors are betting on the oil price staying lower for even longer after OPEC’s decision to ditch a formal production ceiling, pushing US crude futures for delivery nearly 10 years away below $60 a barrel. This could possibly harm the ability of US shale producers, among the casualties of OPEC’s strategy of pumping hard […]

December 8, 2015 | By | Reply More