Singapore 

Formula 1 to go big with esports series in Singapore to woo younger audience, Digital, Singapore News

With three laps remaining at the Formula 1 Singapore Grand Prix last year, championship leader Brendon Leigh made a crucial pass that allowed him to storm to victory. And when he backed it up with another win in Austin, Texas, in the next race, he became the first repeat champion in the F1 Esports Series. The Esports Series is a key part of the strategy of Formula 1 owners Liberty Media as they look to reach a younger audience, including through social media platforms Facebook, YouTube, Twitter and Instagram. Organisers…

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Home 

Here’s why big investing firms are steering clear of China’s expensive, underperforming new-energy car sector

Big investing firms are driving right by new energy vehicle makers in China, saying they have a lot of proving to do before their shares become attractive.As a whole, EV makers are way overpriced, have delivered losses to shareholders in a year the Shanghai Composite Index is up 21.5 per cent, and face a push by Beijing for localities to stimulate car sales that will mean tougher competition from combustion-engine rivals.Meanwhile, Beijing has cut back subsidies by 60 per cent that boosted… Source link

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In drama-packed day in Hong Kong stock market, big gainers in Wednesday’s ‘olive branch’ surge fall while derivatives trading is suspended over ‘connectivity’

Those big gainers in Wednesday’s surge on a hopeful moment about quieting unrest in Hong Kong broadly fell on Thursday, with Sa Sa International plunging 7.9 per cent.The olive branch extended by city leader Carrie Lam – saying she would formally withdraw the radioactive bill that would have allowed extraditions to the mainland – fell far short of protesters’ demands. Violence broke out again at an MTR subway station, in which a station superviser was attacked by protesters and suffered… Source link

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Vietnam 

Big Data vital for AI development: MOST – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Bùi Thế Duy Artificial intelligence (AI) is one of key technologies of the Fourth Industrial Revolution and impacts all aspects of society. Bùi Thế Duy, deputy minister of Science and Technology, spoke to various media outlets about the role of AI in Việt Nam. Could you tell us about the role of AI in Việt Nam? In Việt Nam, AI has been studied and developed at universities and institutes to resolve the country’s specific problems such as writing, Vietnamese language, and understanding and analysing Vietnamese texts. In the current…

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What does an insurer know about smart cities? Ping An reckons its big data analysis can transform it into a tech-driven financial firm

Ping An Insurance (Group), China’s largest insurer by market value, has set its eyes on the country’s smart city projects to bolster its transformation into a technology-driven financial conglomerate while taking on established technology giants.Mature technologies used to build a smart city will be fully developed and expanded to various mainland cities next year as the company looks to secure a front runner position in the segment nationwide, said Yu Ning, head of Ping An’s technology… Source link

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Home 

Hong Kong stock exchange moves to embrace volatility curbs to protect against ‘fat finger’ mistakes, big share price swings

History has shown some swings of stocks or whole markets can create panic and heavy losses, suggesting why the operator of Hong Kong’s stock market is looking at wider use of volatility curbs.On October 19, 1987, Hong Kong’s benchmark Hang Seng Index dropped 33.33 per cent on a single day. It became known as “Black Monday.” It not only was the Hang Seng’s biggest fall ever, but the turmoil spread globally, with the US Dow Jones Industrial Average plummeting 22.6 per cent.Blue chips also haven’t… Source link

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China 

China’s big plan to boost domestic consumption in midst of US trade war

Beijing has unveiled a series of measures to try to boost consumer spending and focus exporters on the domestic market as China continues to battle the United States over trade.In an official policy document published on Tuesday, the State Council, China’s cabinet, listed 20 measures to help improve domestic consumption, from improving commercial pedestrian streets to encouraging night markets.The announcement, dated August 16, comes after retail sales growth slowed to 7.6 per cent in July from… Source link

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Hong Kong’s stock market has always bounced back strongly after big protests in the past. Will it this time?

Hong Kong is the ultimate comeback town. But ongoing protests are rattling its stock market – and its investors.“The fundamentals of Hong Kong companies are really dampened by the social movement,” said Alex Wong, director of asset management at Ample Capital. “Investors should take this opportunity to cut their holdings of Hong Kong equities and move into overseas or Chinese companies, listed either in the mainland or in Hong Kong.”The Hang Seng Index is down 3 per cent since the first major… Source link

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China 

Why there’s no reason to be bearish about China’s slowing economy – just look at the big picture

China’s economic growth rate has been disappointing for those who had anticipated a strong upswing. However, many analysts and commentators have focused on China’s slowdown but ignored the enormous size of the economy and the various implications.Anyone who wants to understand the Chinese economy must first deconstruct their analysis into two distinctive components: structural and cyclical. Structurally, China’s natural rate of economic growth has been falling for years, as the size of the… Source link

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China home buyers wait for better deals as developers see big drop in contracted sales in July amid economic slowdown

Potential homebuyers in China are waiting on the sidelines, hoping for better deals.New data suggests a break in prices might be coming.In July, China’s top 10 builders recorded a month-on-month fall of 80 billion yuan (US$11.4 billion) in total contracted sales, due to a combination of a slowdown in the economy and government policies to clamp down on their debt.The biggest plunge among them was 58 per cent. The top 100 developers saw an average fall of 29 per cent.The question is whether… Source link

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