Date
8 January 2020

Business

  • Kweichow Moutai is forecasting a mere 10 percent sales growth for 2020 amid China’s slowing economic growth and the clampdown on speculative demand. Photo: CNSA

    Liquor king Kweichow Moutai says goodbye to era of easy money

    - Jan 3, 2020 5:08pm
    Kweichow Moutai (600519.CN), China’s top liquor brand, saw its share price tumble 4.5 percent on the first trading day of the new year, despite a strong overall market, after the company said its revenue and earnings...
  • 5G will drive many tech innovations as powerful wireless networks will enable the transfer of large volumes of data much faster. Photo: Bloomberg

    What to expect from the tech sector in 2020

    - Jan 3, 2020 1:10pm
    Ushering in 2020, it’s time to make some predictions as to what lies in store for us from the all-important technology sector in the year ahead. One big underlying theme, most analysts agree, will be 5G,...
  • Tesla plans to start delivering cars, made at its US$2 billion factory in Shanghai, to the public on Jan. 7. Photo: Reuters

    Tesla cuts price for China-made Model 3 vehicles before delivery

    Jan 3, 2020 12:49pm
    US electric vehicle maker Tesla Inc. cut the starting price for its China-made Model 3 sedans by 16 percent to 299,050 yuan (US$42,919) after receiving Chinese subsidies for electric vehicles, Reuters reports, citing information on the...
  • China's reserve requirement ratio can be adjusted further in the future, according to an official of the People's Bank of China. Photo: Bloomberg

    China RRR still relatively high, says PBoC official

    Jan 3, 2020 11:03am
    The proportion of money that Chinese banks must set aside as reserves is still relatively high by global standards, and can be adjusted in future to help provide long-term, stable liquidity to the economy, a senior...
  • Sweden launched its negative rate plan almost six years ago and has now reversed it due to the financial risks that arose from such policy. Photo: Bloomberg

    Sweden ends its experiment of negative rates

    - Jan 3, 2020 10:18am
    Negative rates are the destruction of money, an economic aberration based on the mistakes of many central banks and some of their economists who start from a wrong diagnosis: the idea that economic agents do not...
  • The unfolding Sino-American cool war is far less cut and dried than the Cold War was, the authors observe. Photo: Bloomberg

    Why a ‘cool war’ may be worse than a cold one

    - Jan 3, 2020 9:51am
    In recent years, fears of a new cold war between the United States and China have been proliferating. But the tensions between the two powers would be better described as a “cool war,” characterized not by...
  • The ongoing trade and technology war could represent an opportunity for China to extend its production networks in Asia, and to reduce its exposure in Europe and other parts of the West, the author says. Photo: Bloomberg

    The decline of global value chains

    - Jan 3, 2020 9:39am
    For more than a decade, China has been haunted by the prospect of getting stuck at an income level below that of the developed world (the “middle-income trap”). But the country’s economy is well on its...
  • A Reuters investigation revealed that US intelligence contractors clandestinely assisted a foreign spying operation in the United Arab Emirates, helping the monarchy to crack down on internal dissent. Photo: Reuters

    US passes legislation on overseas sales of cyber tools

    Jan 3, 2020 8:11am
    Newly passed legislation will push the US State Department to disclose how it polices the sale of cyber tools and services abroad. The move followed a Reuters investigation which revealed that American intelligence contractors clandestinely assisted...
  • Ant Financial said it has submitted an application to the Monetary Authority of Singapore for a digital wholesale banking license. Photo: Reuters

    Ant Financial applies for Singapore digital banking license

    Jan 3, 2020 8:06am
    China’s Ant Financial, an affiliate of e-commerce giant Alibaba Group Holdings, has joined the race for a digital banking licence in Singapore, Reuters reports, citing a company statement. The Monetary Authority of Singapore (MAS) has said...
  • Former Nissan chairman Carlos Ghosn said he had fled to Lebanon to escape what he called a “rigged” justice system in Japan. Photo: Handout / Representatives for Carlos Ghosn / AFP

    Lebanon receives Interpol arrest warrant for Ghosn

    Jan 3, 2020 7:46am
    Lebanon received an Interpol arrest warrant on Thursday for former Nissan chairman Carlos Ghosn, while Turkey launched an investigation into his daring escape from Japan via Istanbul, Reuters reports. Ghosn has become an international fugitive after...
  • US stock markets rose as fresh economic stimulus from China added to investors' optimism fueled by easing trade tensions and an improving global outlook. Photo: Reuters

    Wall Street starts 2020 with record highs

    Jan 3, 2020 7:31am
    Wall Street’s major indexes notched record highs to open the new year on Thursday as fresh economic stimulus from China added to optimism fueled by easing trade tensions and an improving global outlook. China’s central bank...
  • The People’s Bank of China has referred to its latest RRR cut as a ‘counter-cyclical’ measure to support economic growth and improve the access to financing. Photo: Reuters

    China makes another move to support economic growth

    - Jan 2, 2020 5:06pm
    China’s economy has shown much?resilience last year despite a series of internal and external challenges, including swine flu, trade war, and the unrest in Hong Kong. Though the economic performance is commendable, authorities still need to...
  • Xiaomi CEO Lei Jun cited the need to "completely cement our king status in the smart era". Photo: Reuters

    Xiaomi to invest US$7 billion in 5G and AI over next five years

    Jan 2, 2020 4:32pm
    Chinese smartphone maker Xiaomi Corp. will invest more than 50 billion yuan (US$7.18 billion) in artificial intelligence and fifth-generation internet technologies over the next five years, Reuters reports. Xiaomi chief executive Lei Jun made the announcement...
  • Stock Connect, which began operating last year, was seen as a major step by China to open up its capital markets as well as linking them globally. Photo: AFP

    China halts British stock link over political tensions: report

    Jan 2, 2020 4:03pm
    China has temporarily blocked planned cross-border listings between the Shanghai and London stock exchanges because of political tensions with Britain, five sources told Reuters. Suspending the Shanghai-London Stock Connect scheme casts a shadow over the future...
  • Singapore's export-oriented economy has been hit hard by the US-China trade war and a cyclical global downturn in the electronics sector. Photo: Reuters

    Singapore economy expands 0.7% in 2019, slowest in a decade

    Jan 2, 2020 10:09am
    Singapore’s economy expanded at its slowest pace in a decade last year as the manufacturing sector struggled, even though growth picked up slightly in the fourth quarter, Reuters reports, citing official preliminary data released on Thursday....
  • The yellow box indicates where an AI system found cancer hiding inside breast tissue. Photo: Northwestern University/Handout via Reuters

    Google AI system could improve breast cancer detection: study

    Jan 2, 2020 8:47am
    A Google artificial intelligence system proved as good as expert radiologists at detecting which women had breast cancer based on screening mammograms and showed promise at reducing errors, researchers in the United States and Britain reported....
  • Airbus deployed extra resources until hours before midnight to reach 863 aircraft for the year, compared with its revised target of 860 jets. Photo: Reuters

    Airbus ousts Boeing as top planemaker with 863 jet deliveries

    Jan 2, 2020 8:36am
    Airbus has become the world’s largest planemaker for the first time since 2011 after delivering a forecast-beating 863 aircraft in 2019, seizing the crown from embattled US rival Boeing, Reuters reports, citing airport and tracking sources....
  • Police stand at the scene of the Ethiopian Airlines Flight ET 302 plane crash, near the town of Bishoftu, southeast of Addis Ababa, Ethiopia on March 11, 2019. Photo: Reuters

    Major commercial plane crash deaths down over 50% in 2019

    Jan 2, 2020 8:24am
    A Dutch consulting firm said the number of people killed in large commercial airplane crashes fell by more than 50 percent in 2019 despite a high-profile Boeing 737 MAX crash in Ethiopia in March, Reuters reports.?...
  • People walk past a house that is believed to belong to Carlos Ghosn in Beirut, Lebanon on Tuesday. Photo: Reuters

    Carlos Ghosn says he fled Japan ‘to escape injustice’

    Dec 31, 2019 5:44pm
    Ousted Nissan boss Carlos Ghosn confirmed on Tuesday that he fled to Lebanon, saying he didn’t want to be “held hostage” by a “rigged” justice system in Japan where he had been awaiting trial on financial...
  • Filing a lawsuit against a new California labor law, Uber and others have argued that the bill discriminates against gig economy businesses that rely on independent contractors. Photo: Reuters

    Uber, Postmates sue to block California gig worker law

    Dec 31, 2019 12:02pm
    Ride-hailing firm Uber and courier services provider Postmates asked a court to block a California labor law set to go into effect on Wednesday, arguing the bill violates the US Constitution, Reuters reports. In a lawsuit...
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