Author: Journalist

BEIJING: Chinese President Xi Jinping warned on Tuesday (Dec 10) that a trade war with the United States would result in “no winners”, state media said, ahead of next month’s inauguration of president-elect Donald Trump. The former US president unleashed a gruelling trade war with China during his first term in office, lambasting alleged intellectual property theft and other “unfair” practices. He has pledged to impose even higher tariffs on China after taking office next month, just as Beijing is grappling with a shaky post-pandemic economic recovery. “Tariff wars, trade wars, and technology wars go against historical trends and economic rules,…

TeamViewer shares down after 1E deal announcementTeamViewer logo on a smartphone and a PC screen in the background.Sopa Images | Lightrocket | Getty ImagesShares of German software maker TeamViewer slid during early trade on Tuesday, losing just over 6% by 8:37 a.m. London time.Earlier in the session, TeamViewer — which makes remote computer access software — announced it would acquire employee experience software maker 1E, with an enterprise value of $720 million.TeamViewer CEO Oliver Steil said in a statement that the deal marked the company’s largest acquisition to date and would “accelerate enterprise growth, drive innovation and deliver greater value…

* China stocks jump nearly 3% amid China policy shift * S.Korean won rises 0.5%, shares jump over 2% * Investors await U.S. CPI print for cues on rate outlook By John Biju Dec 10 – Emerging Asian equities rose on Tuesday following China’s pledge for additional policy stimulus to boost economic growth and ease monetary policy, while South Korean shares rebounded after a sharp decline in the previous session amid political turmoil. South Korean shares jumped as much as 2.4% after hitting a 13-month low on Monday, as equities and the won came under pressure due to deepening political…

Apple is set to make a significant investment of US$1 billion in Indonesia, marking a pivotal shift in the tech giant’s engagement with Southeast Asia’s largest economy. This investment comes in response to Indonesia’s strict Tingkat Komponen Dalam Negeri (TKDN) policy, which mandates a 40 percent local content requirement for smartphones sold in the country. Recently, Indonesia imposed a ban on the sale of the iPhone 16 due to Apple’s non-compliance with these regulations. Initially, Apple proposed a US$100 million investment to build an accessory and component plant to address the TKDN requirements. However, this proposal was rejected by the…

The antitrust investigation is supposedly focused on suspicion that Nvidia has violated the terms of the conditional approval it received from China in 2020 for its acquisition of an Israeli networking equipment company, Mellanox Technologies.At the time, Nvidia committed to an uninterrupted supply of its graphics processing units and Mellanox’s networking equipment. It also promised not to discriminate against Chinese customers, according to the Chinese regulator.If China used its dominance of supply chains and global manufacturing strategically, it could add significantly to the inflation that Trump’s trade, tax and immigration policies are likely to ignite.With France already pondering whether to…

Key Takeaways The crypto market crash led to $1.7 billion in leveraged position liquidations within 24 hours. Despite concerns over quantum computing’s impact on crypto security, current threats remain minimal. Share this article A sharp crypto market correction triggered $1.7 billion in liquidations over 24 hours, with Bitcoin falling from above $100,000 to $94,100 and Ethereum dropping 8% below $3,800, according to data from Coinglass.The market-wide selloff led to $168 million in short liquidations and $1.5 billion in long positions being liquidated, as the overall crypto market cap shrank by 7.5%.Bitcoin has partially recovered from its recent dip, now trading…

RAJ Kumar and Kishin RK, the father and son duo behind one of Singapore’s biggest property portfolios, are setting up a family office in Abu Dhabi, joining a growing list of rich people helping to cement the Middle East’s status as a haven for the super wealthy.The entity will be called RB Family Office and will be located in Abu Dhabi Global Market, a free zone located on Al Maryah Island in the United Arab Emirates’s capital, Kishin said. “We chose Abu Dhabi because it’s strategically located and has an internationally recognised legal framework,” Kishin said. “A family office in Abu…

TAIPEI: The first agreement signed under a trade initiative between Taiwan and the United States will come into force on Tuesday (Dec 10), both governments announced, as Taipei hopes a raft of ongoing talks will eventually lead to a free trade deal. Taiwan was excluded from the US-led Indo-Pacific Economic Framework, part of the Biden administration’s effort to counter what it says is Beijing’s increasing economic and military coercion in the region, when it was set up in 2022. But the United States then set up the US-Taiwan Initiative on 21st Century Trade, which joined the US-Taiwan Economic Prosperity Partnership…

Chinese equities brought back on the radar The Asian markets kickstarted the new week with a late-afternoon surge in Chinese equities yesterday, with one to watch for the bullish momentum to continue into today’s session, given the limited window for market participants to react to the Politburo meeting yesterday. Overnight, the Nasdaq Golden Dragon China Index closed up more than 8.5%, notching its highest level since October this year. With another fresh round of verbal reassurances from China authorities at the meeting, policymakers have now kept market hopes high for aggressive policy stimulus to come next year, laying out its…

Statues of bulls in Pudong’s Lujiazui Financial District in Shanghai, China, on Monday, Oct. 21, 2024. Qilai Shen | Bloomberg | Getty ImagesChina stocks rose Tuesday amid broader gains in Asia-Pacific markets, following losses on Wall Street that saw the S&P 500 and Nasdaq Composite pull back from record highs ahead of key inflation data.Sentiment was boosted by Beijing’s announcement of “more proactive” fiscal measures and “moderately” looser monetary policy next year as part of efforts to boost domestic consumption.Mainland China’s CSI 300 index jumped 2.1% in trading. Hong Kong’s Hang Seng index was up 1.2%.News of the measures, which came from an official readout late Monday…