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HONG KONG/BEIJING: China is working to finalise its first rules to cover online-only banking operations in a push to minimise risk in the financial sector and attract players including foreign lenders, three people with direct knowledge of the matter said.
Singapore is opening up its banking industry to digital lenders in a reform that could shake up the sector across South-East Asia, with Chinese billionaire Jack Ma and ride-hailer Grab among those seeking licences.
E-commerce giants such as Alibaba and Pinduoduo are increasing efforts to help rural farmers and merchants sell their products online. China has made eradicating poverty an important goal to be achieved by the end of 2020.
HONG KONG: Hong Kong's strengths as a global financial hub have not been undermined by months of pro-democracy protests, the Chinese-ruled city's chief executive, Carrie Lam, said on Monday.
The 29-year-old’s depiction of a rural idyll in Sichuan has won her millions of followers internationally and at home. But her company said a viral post about her income had overstated the total. Li makes money through advertising revenue and selling food products.
AFTER years of reconnaissance, China’s retail king Alibaba is finally making its move on Europe. It is undercutting Amazon sellers’ fees to attract vendors but has had mixed results, six sources with direct knowledge of the matter said.
COLOMBO: Canadian investor Prem Watsa’s Fairfax Financial Holdings Ltd has acquired a stake in John Keells Holdings Plc, Sri Lanka’s biggest company by market value, people with knowledge of the matter said.
The tie-up will leverage Alibaba’s Banma Network Technology platform to build a new intelligent connected vehicle operating system.
HONG KONG (Reuters): The "depth of the devastation"inflicted on Hong Kong's economy by more than six months of anti-government protests will be seen in the coming weeks, the chief of the city's stock exchange operator said on Thursday (Jan 9).
HONG KONG: 58 Home, owned by China’s Craigslist equivalent 58.com Inc, is close to completing a private fundraising en route to a United States initial public offering (IPO) that could value the online services platform at as much as US$2bil, people familiar with the matter say.