Political risks in the United States, exacerbated by President Donald Trump’s struggles to pass key reforms amid a major federal investigation, are not deterring the manager of one of Canada’s largest pension funds from being bullish. Hugh O’Reilly, president and CEO at OPTrust, spoke to CNBC on the sidelines of the Milken Institute Asia Summit […]
Read morePassive investing has gained popularity among investors recently, but there is still a place for active fund management, said Barings Chairman and CEO Thomas Finke. “Passives have grown so dramatically in the last decade that there’s this feeling they will overtake everything,” but a balance of assets is important, Finke added. Barings, part of the […]
Read moreNorth Koreans are likely to face serious food shortages despite recent relief from an intense dry spell, officials from the UN Food and Agricultural Organization told CNBC. Rainfall this year was “considerably lower” than a corresponding period in 2001, when cereal production in the communist dictatorship plunged to record lows, the UN said in a […]
Read moreSmart city initiatives have helped Bandung, Indonesia’s third-largest city, become a role model for government performance as its architect-turned-mayor focuses on slashing red tape. “We have the best performance in bureaucracy in Indonesia today,” Ridwan Kamil, mayor of Bandung, told CNBC on Thursday. Investing in technology to transform how citizens are served has quashed corruption […]
Read moreThe U.S. dollar could “easily rebound” by 4 to 5 percent from current levels, but President Donald Trump and his administration stand in the way of the currency’s long-term strength, Marc Faber said Thursday. The greenback has had a tough year, with the dollar index tumbling nearly 10 percent since the start of 2017. At […]
Read moreSingapore-based financial technology company Six Capital Group responded Thursday to complaints from users who say they’re unable to cash out from the firm’s web-based strategy game. The game, called Tagg Switch, works similarly to how trading currencies works: Players purchase one of six types of so-called “Nodes” that represent a different currency — either the […]
Read moreTesla CEO Elon Musk announced Wednesday that the company’s “unreal” semi truck was tentatively set to be unveiled in October. Elon Musk tweet: Tesla Semi truck unveil & test ride tentatively scheduled for Oct 26th in Hawthorne. Worth seeing this beast in person. It’s unreal. Musk has already revealed some details about the project. Speaking […]
Read moreThe greenback and U.S. Treasury yields rose on Wednesday following tax reform headlines out of Washington. For their Thursday trade, markets in Asia will look to those stateside developments, but they’ll also watch the release of a barrage of China data due later in the morning. Tax reform was back in the spotlight in the […]
Read moreTreasury Secretary Steven Mnuchin asked for a costly government plane to fly to his European honeymoon earlier this year. The Treasury’s Office of Inspector General is looking into the request, according to ABC News, which first reported the story. Operating such a jet can cost around $25,000 an hour, according to ABC. Mnuchin considered using […]
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