Hyundai Motor Co said on Thursday it had invested in Singapore-based ride-hailing firm Grab, in the South Korean automaker’s first foray into the rapidly growing sector as it tries to diversify following a sales slump in China. Grab has expanded to eight Southeast Asian countries and has said it is the biggest operator in the […]
Read moreU.S. bonds sold off on Wednesday — and that may have been the point. Markets took a hit following a Bloomberg News report that cited unnamed Beijing officials as saying that China, the largest holder of U.S. Treasurys, could slow or even halt its purchases of that debt. U.S. stocks on Wednesday snapped a six-day […]
Read moreMedia reports on China considering reducing or halting purchases of U.S. Treasuries could be based on wrong information, a Chinese government source said on Thursday. Bloomberg News reported on Wednesday that Chinese officials reviewing the country’s vast foreign exchange holdings have recommended slowing or halting purchases of U.S. Treasury bonds. China has been diversifying its […]
Read moreSearch for Malaysia Airlines flight MH370, which vanished from radar screens in March 2014, will begin anew this month, Malaysian newspaper The Star reported Wednesday. The resumption comes after Malaysian authorities took up an offer by U.S. exploration firm Ocean Infinity to continue looking for the plane, the report said. The company, in a statement, […]
Read moreThe U.S. made a move this week to strengthen its relationship with Taiwan, raising eyebrows in China, which strongly opposes countries pursuing ties with the island-nation. The U.S. House Foreign Affairs Committee passed two bills on Tuesday aimed at bolstering “the critical U.S.-Taiwan partnership,” according to a statement. One bill, called the Taiwan Travel Act, […]
Read moreSouth Korea’s justice minister said a bill is being prepared to ban all cryptocurrency trading. That news is a major development for the cryptocurrency space, as South Korea is one of the biggest markets for major coins like bitcoin and ethereum. “There are great concerns regarding virtual currencies and justice ministry is basically preparing a […]
Read moreChina’s commerce ministry said on Thursday protectionist sentiment is rising in the U.S. after Chinese company Ant Financial’s plan to buy U.S. money transfer company MoneyGram International collapsed. China is disappointed that the Ant Financial-Moneygram deal was rejected on national security grounds, ministry spokesman Gao Feng said in a regular briefing. Ant Financial’s plan to […]
Read moreAs Beijing and the surrounding region reported big improvements in air quality last year, nationwide gains were much more muted as industrial activity shifted further away from the capital, a report by Greenpeace shows. Strict restrictions on coal use and industrial activity led to a dramatic improvement in air quality in Beijing and across northern […]
Read moreSouth Korea’s largest cryptocurrency exchanges were raided by police and tax agencies this week for alleged tax evasion, people familiar with the investigation said on Thursday. “A few officials from the National Tax Service raided our office this week,” an official at Coinone, a major cryptocurrency exchange in South Korea, told Reuters. “Local police also […]
Read moreAn upcoming conference dedicated to cryptocurrencies and blockchain technology has stopped accepting ticket payments in bitcoin, suggesting that the method was slow, costly and labor-intensive. The North American Bitcoin Conference, held in Miami next week, said on its website that network congestion and manual processing influenced the decision to stop accepting payments in cryptocurrencies. Last […]
Read more