DALIAN, China — Despite many risks and challenges facing the world’s second-largest economy, views on China were largely optimistic at the World Economic Forum meeting here in Dalian. The positivity may have seemed incongruous with the perennial spate of doomsaying headlines, but the line held strong throughout “Summer Davos.” During the three-day gathering — named […]
Read moreChinese bike-sharing unicorn Mobike is currently more interested in expanding its market share than making a profit, the company’s founder said on Thursday. Hu Weiwei, who is also president of Beijing Mobike Technology, the company behind the bike-sharing service, said the business was looking to move into new markets, both within and outside China. “If […]
Read moreAs we race toward the fourth industrial revolution there will inevitably be tensions between public, private and individual interests. But these should be challenged, rather than shied away from, to minimize displacement, panelists at the World Economic Forum’s “Summer Davos” agreed on Thursday. “The tension between the private sector and the public sector and civil […]
Read moreChina‘s rise has made some cautious, but its stability is providing greater confidence to the world, popular television personality Jin Xing said Thursday. “Look at it this way, (the) whole world is shaking at this moment,” Jin said on the sidelines of the World Economic Forum’s meeting in Dalian, China, pointing to political and economic […]
Read moreIn the aftermath of Britain’s departure from the European Union and the U.S.’s withdrawal from the Paris climate pact, the bloc’s remaining members must take greater responsibility for “existential” challenges the world faces, German Chancellor Angela Merkel said. “We are convinced that climate change is one of the greatest challenges facing humanity, an existential challenge,” […]
Read morePublicly “naming and shaming” individual responsible for financial misdemeanors sends a stronger signal than levying hefty fines on the banks that employ them, Singapore‘s central bank said Thursday, justifying its response to the controversial Malaysian fund 1MDB. The Monetary Authority of Singapore (MAS) last month completed a two-year review of banks connected to the Malaysian […]
Read moreCompanies looking to grow should not shy away from adopting new, emerging technologies, even if they cannibalize their legacy operations, a panel of experts said Thursday. The rapid adoption of smartphones and improved Internet connectivity around the world has changed the way users today interact with technology — and has sometimes spurred the decline or […]
Read moreAn R2-D2 droid that was used in several “Star Wars” films has sold at auction for nearly $3 million. The auction house Profiles in History said the 43-inch tall unit that was compiled from parts used throughout filming of the original trilogy sold for $2.76 million at an auction Wednesday. There was no information about […]
Read moreSingapore’s property cooling measures, which have dampened residential sales and prices since their introduction in 2009, remain necessary, the city-state’s central bank said on Thursday. “Our key property market measures remain necessary for a stable and sustainable residential property market and to encourage household financial prudence,” the central bank, the Monetary Authority of Singapore (MAS), […]
Read moreSingapore’s central bank made a record net profit of 24.3 billion Singapore dollars ($18.6 billion) in the last financial year, bolstered by positive currency translation effects and higher investment gains. The Monetary Authority of Singapore (MAS), however, said it is “not popping the champagne” yet as its profits and losses are subject to wild swings. […]
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