KUALA LUMPUR: Malaysia’s communications regulator will issue a warning to social media firms TikTok and Meta for allegedly blocking pro-Palestinian content on their platforms, its communications minister said on Thursday (Oct 26). “If this issue is ignored, I will not hesitate to take a very firm approach and stance,” FahmiContinue Reading
TAIPEI: According to two sources close to Foxconn, a significant supplier of Apple’s handsets, the company is being investigated for tax evasion in China. They claimed that the investigation was made public for political reasons related to the approaching elections in Taiwan. The state-backed Global Times newspaper in China reportedContinue Reading
SINGAPORE: According to Citigroup CEO Jane Fraser, Asia continues to be a beautiful spot for the globe despite political unrest, continued wars, and China’s slowing economy.
According to her, the company moves US$ 4 trillion( S$ 5.5 trillion ), or the gross domestic product of Germany, every day for 5,000 foreign corporations, with the majority of that movement and activity occurring in Asia. & nbsp,
” Asia is merely the shining star of the universe.” She continued,” There are so many different regions where the changing dynamics are playing into the longer-term flavor and gain these, get it what we see in Indonesia, Thailand, and Vietnam. & nbsp,
China is currently facing difficulties, but she noted that the technological advancements the nation has made are” remarkable.”
In Singapore, where” a lot of different innovative paths” are emerging, there are also a number of growth opportunities, she told CNA. Ms. Fraser attended a Citigroup committee meeting in Singapore.
Every day I see them, innovative users in this region of the world astound me. They’re so creative and inventive, and that’s going to create a ton of money as well as economic growth over the medium to long phrase, she said.
She said,” I think you can tell I’m an idealist, especially in this region of the world.” & nbsp,
Ms. Fraser described the financial situation in different markets and stated that both consumer and corporate clients have been in great health in the United States despite the possibility of a crisis there next time.
She pointed out that the labor market and electricity prices in Europe are facing longer-term structural issues.
Ms. Fraser said it was time to position Citigroup for the growth that may occur, especially in Asia, as she leads the company through its most extreme transformation in decades, which includes streamlining the organization and eliminating jobs.
Ms. Fraser also discussed how the Wall Street behemoth maintains its regulation and risk management framework in a time when big banks may occasionally draw bad actors during the extensive appointment.
Citigroup, which has offices in 96 nations, is selective in the users it chooses, she claimed.
The advantage of being on the ground is that you’re not just( based ) on data.” We put a lot of rigor into it. You have a great grasp, she said.
Through its cyber capabilities and forgery recognition, the company has monitoring capabilities to assist clients in protecting against risks or negative actors, she said.
” It’s a great investment that we make, but it does start with being quite picky about who we do business with, making sure we are working with people with good reputations, and keeping them safe ,” Ms. Fraser said.
Another academics argued in favor of a new economic alliance that was defend China from sanctions tit-for-tat. Ye Yan, an economist at China National Oil and Gas Exploration and Development Company, wrote in January that a coming” anti-sanction business system” that would enable member states to business discounted items hadContinue Reading
TAIPEI: Taiwanese chipmaker TSMC reported a smaller-than-anticipated 25 % decline in third-quarter net profit on Thursday( Oct 19 ) and said it sees signs of stability, raising hopes that the semiconductor industry is on track for recovery. The largest lease chip manufacturer in the world was optimistic about the comingContinue Reading
Three sources with firsthand knowledge of the situation claim that Country Garden’s bondholders are requesting serious discussions with the business and its advisors after the troubled real estate developer missed a US$ 15 million discount payment, putting it in default risk. According to the options, who declined to be namedContinue Reading
Retail sales growth, a key indicator of consumption, also exceeded expectations, increasing by 5.5 % last month and picking up from an increase of 4.6 % in August. Economists had anticipated a 4.9 % increase in retail revenue. In contrast to aspirations for a 3.2 percent increase, fixed asset investmentContinue Reading
MANILA: According to Ferdinand Marcos Jr. ‘ s communications company, the Philippines’ first sovereign wealth fund has been put on hold as of Wednesday, October 18. According to the Executive Secretary’s business, Marcos Jr. suspended the fund” because he wanted to thoroughly examine the( implementing laws and regulation ) toContinue Reading
An investigation into China Evergrande’s chair, a besieged gaze that has also defaulted and been at the center of the sector’S debts crisis, followed Country Garden’d missed payment. Shares in Country Garden have lost about 70 % of their value this year, but on Wednesday they gained some ground, risingContinue Reading
But, Lv Daliang, the General Administration of Customs’ spokesperson, stated earlier on Friday at a press conference that China’s industry still faces an intricate and challenging physical environment. In September, China’s exports to the ASEAN countries, which have grown to be the largest business partner of the Asian giant dueContinue Reading