China’s market regulator has fined Alibaba and a Tencent-backed company for not making the proper declarations to authorities about past acquisitions, in another sign Beijing is taking a tougher stance on the country’s tech giants. Alibaba, Tencent-backed China Literature, and Shenzhen Hive Box Technology were each fined 500,000 yuan ($76,463) by the State Administration for Market Regulation (SAMR). […] Read more
With the recent spate of bond defaults in China, investors should be looking to put their money into Chinese central government bonds which are “unlikely to default,” according to an economist from research firm TS Lombard. Last month, a series of high-profile defaults involving state-owned companies in China — normally a safe bet for investors — jolted […] Read more
British telcos could face large fines if they fail to tighten security in their networks under a new law being announced in Parliament on Tuesday. The proposed Telecommunications Security Bill is designed to improve security in the U.K’s 5G and full-fiber networks. Under the bill, network operators must ensure the equipment and software used at […] Read more
China’s government made two significant appointments over the weekend, assigning two former bankers to key positions that underscore President Xi Jinping’s policy priorities for the next few years, as the nation’s economic growth loses its breakneck pace, while the financial markets must prepare for greater foreign competition and liberalisation. The government promoted Yi Huiman, chairman […] Read more
Confrontation and the risk of military conflict over Taiwan between Beijing and Washington look set to continue under a Joe Biden administration, with military and diplomatic observers predicting no let-up to US sales of advanced weaponry to the self-ruled island. Experts pointed to bipartisan support in the US Congress for President Donald Trump’s Indo-Pacific strategy – widely […] Read more
China — The growth of Alibaba’s cloud business outpaced Amazon and Microsoft in the quarter ending in September, and the Chinese tech giant reiterated its commitment to making the unit profitable by next March. Alibaba reported cloud computing brought in revenue of 14.89 billion yuan ($2.24 billion) in the three months ending Sept. 30. That’s a 60% year-on-year rise […] Read more
Ireland’s foreign investment rules are being updated as Dublin seeks to protect the country’s prized assets and align itself with regulations from Brussels. Ireland’s industrial policy relies heavily on outside investment with several tech and pharmaceutical giants having headquarters in the country, attracted by the country’s 12.5% corporate tax rate and other factors. In September, […] Read more
British Prime Minister Boris Johnson pledged Tuesday to tap United Kingdom’s offshore wind energy to power every home in the country by 2030, to be a part of the world’s shift away from fossil fuels. “As Saudi Arabia is to oil, the U.K. is to wind—a place of almost limitless resource, but in case of […] Read more
China — China’s technology giants — like their U.S. counterparts — have seen business thrive during the coronavirus pandemic. But the tech industry is at a crossroads, facing an uncertain economic and geopolitical environment. China’s gradual though uneven economic recovery, Beijing’s focus on domestic consumption, and the digital trends that have been accelerated by Covid-19 are […] Read more
Google said it will pay publishers around $1 billion for news over the next three years. The pledge was announced by Google Chief Executive Sundar Pichai in a blog post on Thursday. “I have always valued quality journalism and believed that a vibrant news industry is critical to a functioning democratic society,” Pichai said. News publishers including […] Read more
