Bitcoin, despite the large amount of interest it has attracted, has not achieved the kind of stability a currency should possess, Allianz Chief Economic Advisor Mohamed El-Erian said, adding that he agrees with the notion that the cryptocurrency is more of a commodity. “A currency serves as a predictable store of value, and serves as […]

China is leaving nothing to chance during next week’s visit by U.S. President Donald Trump, and will likely fortify the value of the yuan — a regular target of attack during last year’s campaign for the White House. Trump promised while campaigning that if elected he would name China a “currency manipulator” for artificially depressing […]

The U.S. Federal Reserve is on a “beautiful normalization” that balances rising interest rates and the stability of markets and the economy — something the next chairperson, whoever it will be, would not want to disrupt, Allianz Chief Economic Advisor Mohamed El-Erian said Thursday. President Donald Trump is expected to nominate the next Fed chair […]

President Donald Trump will commence a five-nation Asia tour on Friday to try to reaffirm American leadership in a region beset by tensions from a nuclear-armed North Korea and an expansionist China. From Nov. 5 to Nov. 14, the 71-year-old leader will stop in Japan, South Korea, China, Vietnam and the Philippines in his first […]

Stocks on Wall Street closed mixed and the dollar firmed overnight after the Federal Reserve kept interest rates steady ahead of Asia’s Thursday trading day. The Federal Reserve kept interest rates unchanged following the conclusion of its two-day policy meeting on Wednesday, a move that was largely expected by markets. The central bank did not […]

Southeast Asian ride-hailing company Grab on Wednesday said users can now pay for goods and services in shops and restaurants using GrabPay, the company’s mobile wallet. The option is currently available in Singapore, but the company’s co-founder, Tan Hooi Ling, told CNBC it will be rolled out simultaneously across Southeast Asia by 2018 if the […]

South Korea will never tolerate North Korea as a nuclear state, nor will Seoul have nuclear weapons, President Moon Jae-in said on Wednesday, as China pledged to work on denuclearisation after setting aside a dispute with Seoul over an anti-missile system. The North Korea nuclear crisis will take center stage when U.S. President Donald Trump […]

HP Inc., maker of printers and personal computers, on Wednesday said it completed its purchase of Samsung Electronics’ printer business in a deal valued at $1.05 billion. The acquisition will expand HP’s portfolio and help to disrupt the $55 billion A3 copier market with multi-function printers that are simple to use but have the same […]

Japan’s Sony said on Wednesday it has brought back AIBO more than a decade since it last made the robotic dog, as the electronics and entertainment firm seeks to rebuild its reputation for innovation after years of restructuring. The announcement comes a day after Sony confirmed its renaissance by forecasting its highest-ever profit this financial […]

Japan’s Shinzo Abe was re-elected prime minister on Wednesday after his ruling bloc’s big election win last month and days before U.S. President Donald Trump’s visit, expected to be dominated by concerns over a volatile North Korea. Abe, 63, took office in December 2012 promising to reboot the stale economy and bolster defense. His Liberal […]