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Global car giants are the Nokia of today, rolling towards commercial extinction

Think of the smartphone in your pocket. Now compare it with the mobile phone you might have carried 20, or even 30, years ago.They are hardly comparable. They are different sizes, different shapes, and worlds apart in what they can do.That brick from 20 years ago could make telephone calls and send short text messages – if you were lucky enough to have cellular coverage.With today’s smartphones you can not only watch movies, you can make them. They can monitor your health and fitness, tell you… Source link

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China begins to embrace global sustainable investment trend, but big names still missing, says China chief of UN-backed body

The idea that companies’ environmental, social and governance performance should be weighed in investment decisions is beginning to catch on in China. Above, a dead fish floats in water filled with blue-green algae at the East Lake in Wuhan, Hubei province in this August 20, 2012 file photo. Photo: Reuters Source link

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JPMorgan develops its own digital coin to speed up corporate global payments

JPMorgan Chase is turning to cryptocurrency to modernise one of its most central businesses. The biggest US bank said it has developed a prototype digital coin that it plans to use to speed up payments between corporate customers, according to a statement released on Thursday. The token, dubbed JPM Coin, is based on blockchain technology, a decentralised public ledger of transactions that offers more speed because it does not rely on a central record keeper. “Many of our clients move money in different ways and they’re looking for a more…

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Ant Financial acquires UK payments firm WorldFirst to advance its global expansion

Ant Financial Services, an affiliate of Alibaba Group Holding, has agreed to buy UK-based payments company WorldFirst to bolster its global expansion, marking the Chinese start-up’s biggest deal since a major US acquisition fell through last year. “Alipay and WorldFirst’s capabilities and international footprints are highly complementary, and together, we will be able to better serve small businesses and promote financial inclusion around the world,” said an Ant Financial spokeswoman in a statement on Thursday. Terms of the acquisition were not disclosed. Ant Financial-backed mobile payment firm Mynt seeks Philippine…

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Huawei publishes Q&A on website to make its case as stakes rise in global battle for 5G supremacy

As European telecommunications network operators continue to review their plans to use equipment from Huawei Technologies amid concerns that governments could ban the vendor, the Chinese telecoms giant has published a detailed Q&A on its website entitled “Huawei Facts”. The US government has been pushing its allies to block the Chinese company, citing fears that its equipment could be used for spying, something that Huawei executives have strenuously denied. US Secretary of State Mike Pompeo said this week that America may be forced to scale back certain operations in Europe…

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Global 

United States to remain sole global economic superpower until 2035, Chinese government think tank says

The United States will remain the world’s only global economic superpower until 2035 even though China’s role in the world economic landscape will become more important, according to Beijing’s latest predictions, in an apparent toning down of the mainland’s public ambitions for its future role in global economy. While the report by the Development Research Centre of the State Council (DRC) does not directly address the rivalry between China and US, it does attempt to project a relatively low profile role for China over the next two decades. It is…

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China joins global central bank gold rush as its foreign exchange reserves stabilise

China has joined a global central bank gold rush in the last two months by increasing its official gold reserves, even though the purchase remains modest compared to the volume of the mainland’s foreign exchange reserves, according to data released by the People’s Bank of China on Monday. The country’s gold reserves rose slightly to 59.94 million ounces at the end of January from 59.56 million ounces at the end of December 2018, marking a second straight month of increase. The latest gold purchase by the world’s second-largest economy came…

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Why Greater Bay Area is the perfect stepping stone for Hong Kong start-ups to go global

The Greater Bay Area could just be the ticket for Hong Kong start-ups and companies to go global, but it will only work if restrictions are eased further, say experts. Chan Ka-keung, the former Secretary for Financial Services and the Treasury and now a senior adviser to home-grown unicorn online lender WeLab, told the Post in an interview that because of Hong Kong’s limited scope given its population of 7 million, it is imperative that the city’s start-ups tap the Greater Bay Area market of 70 million people. Asian cities…

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Vietnam 

VN loses out on global market without rice brand – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News Hoàng Nguyên LONG AN — Trung An Hi-tech Farming JSC in the Cửu Long (Mekong) Delta has been exporting rice under foreign brand names for many years though it is itself one of the biggest rice exporters in Việt Nam. Speaking to the media on the sidelines of the third Vietnamese Rice Festival in Long An Province last December, Phạm Thái Bình, the company’s director, said to let consumers know about Vietnamese rice products, exporters like his company have to be able to show…

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US-China trade war, slowing global growth weigh on Hong Kong business confidence in first quarter

Business sentiment among small and medium-sized business owners in Hong Kong fell to its lowest level in nearly three years, fuelled by concerns over slowing global growth and lingering trade tensions between the US and China, according to a new survey. Confidence among employers for the first quarter dropped 2.6 points to 40.4 on a quarter-on-quarter basis in the Standard Chartered Hong Kong SME Leading Business Index. That matched a low set in the second quarter of 2016 and was the second quarterly decline in a row. Despite recent optimism…

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