The Wall Street Journal reported on Wednesday( Sept. 6) citing sources with knowledge of the situation that China has ordered authorities at central government companies not to use Apple smartphones or other foreign-branded devices for work or take them into the office. According to the WSJ, the orders were givenContinue Reading
Sam Altman, the CEO of OpenAI, has been given Indonesia’s second gold visa, according to officials, as the largest economy in Southeast Asia seeks to draw in affluent foreign investors. According to director-general of emigration Silmy Karim, the co-founder of the ChatGPT scammer sensation was given a 10-year immigration forContinue Reading
MANILA: Asian inflation demonstrated tenacity after quickly picking up for the first time in seven months in August. This was essentially because of an increase in food and transportation costs, which kept the central bank under pressure to maintain its pessimistic stance. The consumer price index ( CPI ) increasedContinue Reading
State of play Country Garden says 96 per cent of its cash flow comes from real estate sales. But the Chinese property market is slumping: prices are on the decline and buyers are reluctant to invest as the broader economy stalls. Many property giants have had no choice but toContinue Reading
BEJING: Country Garden has won approval from its creditors to extend payments for an onshore private bond, according to sources and a document seen by Reuters, in a major relief for the embattled Chinese developer as well as the crisis-hit property sector. Country Garden was seeking approval from its creditorsContinue Reading
How bad is Country Garden’s financial situation? Country Garden’s total liabilities were about US$194 billion by the end of June, unchanged from the end of 2022, based on its first-half financial results. It faces 108.7 billion yuan (US$14.9 billion) worth of debts due within 12 months, while its cash levelsContinue Reading
THE MATE Master 60 IS A 5G PHONE, IS IT? Huawei has remained silent, claiming that its smartphone is the” most potent Mate model ever.” The Mate 60 Pro is in a similar performing field to bottom line 5G telephones, according to tear-down videos and frequency tests posted by telephoneContinue Reading
Moody’s said on Thursday it expects a lengthy recovery process for the sector amid lingering concerns that developers would struggle to complete projects as well as due to a slowing economy and high unemployment. John Lam, head of China and Hong Kong property at UBS Investment Bank Research, expects moreContinue Reading
MANILA: The Philippines announced price ceilings for rice on Friday (Sep 1) to protect consumers, as the rising cost of the national staple probably caused August inflation to accelerate for the first time in seven months. One of the world’s biggest rice importers, the Southeast Asian nation is cracking downContinue Reading
KUALA LUMPUR: Malaysia’s trade ministry said on Friday (Sep 1) that the government will allocate RM8.2 billion (US$1.77 billion) to fund a national industrial masterplan to be implemented by 2030. The plan aims to develop a more robust manufacturing sector, by boosting the competitiveness of small and medium-sized businesses andContinue Reading