Japan’s economy shrugged off a consumer spending dip in the third quarter to post the longest period of uninterrupted growth in more than a decade, showing strong fundamentals. The economy expanded at a 1.4 percent annualized rate in July-September on strong exports and slightly above the median estimate for annualized growth of 1.3 percent. That […]
Read moreOne of Asia’s largest banks is of the opinion that bitcoin is currently a financial scam. “We see bitcoin as a bit of a ponzi scheme,” David Gledhill, group chief information officer and head of group technology and operations at DBS, told CNBC on Wednesday. Bitcoin transactions are “incredibly expensive” and “all the fees are […]
Read moreThe cautious sentiment in Asia seen during the Tuesday session continued through the U.S. trading day, with stocks slipping stateside and oil falling nearly 2 percent in the last session. In contrast to a slew of Chinese data points missing forecasts on Tuesday, economic reports released overnight in Europe was more upbeat. The 0.8 percent […]
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OPEC, Russia and other producers are in the midst of a joint effort to force a rebalancing of the oil market, with prices climbing to two-and-a-half-year highs in recent weeks. However, with persistently strong oil exports dampening market sentiment and capping gains, CNBC takes a look at the world’s 10 leading oil exporters. Source: cnbc […]
Read moreAs President Donald Trump seeks to strengthen the U.S.-Philippine alliance, his administration is embarking on two controversial actions that risk inflaming Asia-Pacific tensions. That is, Washington has been helping Manila fund its deadly anti-narcotics campaign and is looking to maintain a military presence in the South China Sea to prevent Beijing from further territorial expansion. […]
Read moreChina’s fixed-asset investment growth slowed to 7.3 percent in the January-October period, and came in slightly below market expectations. Analysts polled by Reuters had predicted investment growth of 7.4 percent. Private sector fixed-asset investment rose 5.8 percent in January-October, down from the first nine months of the year. Industrial output grew 6.2 percent in October […]
Read moreJia Yueting, the 44-year-old founder of Chinese tech company LeEco, once envisioned building a Chinese empire that would rival U.S. tech giants Netflix, Tesla and Apple all together. With that vision, Jia quickly expanded his company from a video streaming portal to a multinational conglomerate, or a “sharing ecosystem” as he called, selling products from […]
Read moreU.S. equities ended marginally higher on Monday as investor concerns about the progress in U.S. tax reform weighed on sentiment. In Asia, markets awaited the release of a slew of Chinese economic data points due later in the day. Proposed tax cuts were in focus stateside, with President Donald Trump joining the fray and calling […]
Read moreSingles Day has become the world’s largest shopping event as Alibaba announced its sales hit $25.4 billion this weekend. The figure not only surpassed the Chinese e-commerce giant’s own record, but is also topped Black Friday and Cyber Monday U.S. sales combined. But Singles Day, marked on Nov. 11, is not just for the Chinese […]
Read moreOne of the defining actions of President Donald Trump’s tenure in the White House so far is his decision to withdraw the U.S. from a 12-nation trade deal that would have had wide-ranging implications for much of the world’s economy. Now that deal — the Trans-Pacific Partnership — looks like it’s going to be settled […]
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