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Record-low interest rates, higher capital the catalyst
SEOUL, Jan 18 (AFP): The de facto chief of South Korea's Samsung business empire was convicted Monday over a huge corruption scandal and jailed for two and a half years, in a ruling that deprives the tech giant of its top decision-maker.
Once a leader, Xiami saw its monthly active users (MAUs) fall to 22.4 million by October 2020, a tiny fraction of the 450 million for Tencent’s three music apps. Founder Wang Hao’s laid back style was reflected in Xiami’s philosophy of focusing on the music first but it may have also contributed to the decline.
MANILA, Jan 18 (Bloomberg): Philippine banks will recover faster from the impact of the coronavirus pandemic than they did from the Asian financial crisis due to record-low interest rates, higher capital and a stable economy, the head of the nation’s bankers group said.
HONG KONG, Jan 15 (SCMP): Xiami Music, the pioneering Chinese music streaming service owned by Alibaba Group Holding (which owns the Post), will close next month after management admitted it missed “crucial opportunities” in the battle with rival Tencent Music.
Tencent-backed video-sharing app Kuaishou wins green light from Hong Kong to raise up to US$6 billion
With a user base of 300 million daily live-streaming users, Beijing-based Kuaishou is the world’s second-largest video-sharing appIPO could set the stage for listings by competitors Bilibili, Douyin and iQiyi
For years, legal troubles have cast a cloud over Samsung Electronics Vice Chairman Jay Y. Lee as he stood on the cusp of stepping out of his father's shadow and making a name for himself as the leader of the global tech giant.