Asia-Pacific markets fell Wednesday as traders assessed July business activity data from Japan and Australia, and tech earnings from the U.S. Tech and EV stocks largely slumped in the region after U.S. tech giants Alphabet and Tesla reported their second-quarter earnings, with Tesla falling short of estimates. Hong Kong’s Hang Seng index fell 1.14%, reversing earlier gains, while mainland China’s CSI 300 […]
China’s ruling Communist Party has set ambitious long-term policy goals at its most important political meeting on reform, but offered little detail on how to pull the world’s second-largest economy out of a worsening downturn. In a behind-closed doors meeting known as the third plenum, more than 360 members of the party’s Central Committee — […]
The leader of aerospace giant Boeing’s defense division said Sunday that the company is still fighting through issues that have delayed the construction of two new Air Force One presidential aircraft. Boeing received a $3.9 billion contract in 2018 to build two new 747-8 aircraft for use as Air Force One that would be delivered […]
Lemonade, the US-based digital insurance company driven by AI and social impact, has marked the eighth consecutive year of giving back to a number of local and global charities selected by customers. As part of its ‘2024 Giveback’, Lemonade donated $2,112,608 to 43 nonprofits globally, supporting causes including healthcare, education, climate, global poverty, and animal […]
UK financial services firms currently spend over £21,000 per hour fighting financial crime and fraud through onboarding and compliance screening processes, according to the latest True Cost of Compliance report from LexisNexis Risk Solutions. In a study of 254 regulated UK financial services firms, LexisNexis Risk Solutions found compliance costs rose by 12 per cent in 2023, with […]
Global video game commerce company, Xsolla, has unveiled a number of new launches and milestones, as well as an acquisition, as it looks to enhance its influence across a larger region and help developers unlock enhanced revenue and increase conversion rates. Xsolla has expanded its payment solution across Southeast Asia, East Asia, and Pacific markets. It […]
The Monetary Authority of Singapore (MAS) has committed an additional S$100million to support the development of quantum and artificial intelligence (AI) technologies in the financial sector. This investment is part of the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0) and aims to foster innovation and enhance technological capabilities in finance. Quantum technology is poised to […]
The interest rate on a 30-year fixed-rate mortgage is 6.625% as of July 19, which is unchanged from yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 5.875%, which is 0.115 percentage points lower than yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying for a loan. It’s […]
Asia’s foreign reserves have dropped this year as central banks have intervened to support their currencies, with Japan, Indonesia and South Korea leading the declines. Foreign reserves across 12 countries, from Japan to India, fell about $50 billion to $7.5 trillion by the end of June. They had risen 2.2% in the same period last […]
Hong Kong’s Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA), are set to finalise plans for a new licensing regime for fiat-referenced stablecoins (FRS), to combat associated financial stability risks. On 17 July, the two regulatory bodies jointly issued the conclusion of their legislative proposal to implement a regulatory regime for FRS issuers […]
Throughout the last two years, AI has exploded in popularity. The biggest buzzword for consumers and corporate businesses alike, the tech is promising to have an impact in every sector. Because of this, UAE retail investors now appear to heavily favour AI over big tech firms, according to new data from trading and investing platform eToro. […]
Chip stocks in Asia tumbled on Thursday following a tech selloff on Wall Street amid reports the U.S. may be considering tighter export restrictions. Shares of Taiwan Semiconductor Manufacturing Company — the world’s biggest chip supplier — fell as much as 4.3% in Asia trade, before paring losses. The company reported Thursday revenue and profit expectations in the […]
