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Author's articles
German business urges 'new beginning' after election
German business leaders called Monday for the swift formation of a new ruling coalition to usher in a "new beginning" for Europe's crisis-wracked top economy after the conservatives' election win. After political paralysis under the last government, there are hopes that conservative election winner Friedrich Merz can quickly build a more stable coalition capable of driving much-needed reform.
China's Alibaba to invest $50 bn in AI, cloud computing
Chinese tech giant Alibaba said Monday it will spend more than $50 billion on artificial intelligence and cloud computing over the next three years, a week after co-founder Jack Ma was seen meeting President Xi Jinping. Alibaba plans to "invest at least 380 billion yuan ($53 billion) over the next three years to advance its cloud computing and AI infrastructure", a company statement said.
Indonesia launches new multi-billion-dollar sovereign wealth fund
Indonesia on Monday launched a new sovereign wealth fund that will aim to manage state assets worth more than $900 billion as President Prabowo Subianto looks to turbo-charge growth in Southeast Asia's biggest economy. Danantara will be Indonesia's second sovereign wealth fund, after the Indonesia Investment Authority which was launched in 2021 and holds $10.5 billion in assets.
Most Asian markets track Wall St loss; Hong Kong extends gains
Asian markets mostly fell Monday following a dour end to last week for Wall Street, where a disappointing round of data added to concerns about the world's number one economy.
Hong Kong and Singapore lead Asia's drive to cash in on crypto boom
Hong Kong and Singapore are the front-runners in a push by Asian governments to become cryptocurrency hubs as they look to capitalise on the global resurgence of the sector thanks to the support of US President Donald Trump.
Well-off Hong Kong daunted by record deficits
Hong Kong is facing its toughest fiscal test in three decades following a painful run of mammoth deficits, with experts urging the government to make careful cuts as the economy wobbles. Lawmaker Edmund Wong cautioned against pay cuts for civil servants, which he said may cause private-sector employers to follow suit, but urged the government to slim down.
Milei says welcomes Trump plan for reciprocal tariffs
Argentine President Javier Milei plans to join the reciprocal tariff plan of Donald Trump, he told an approving crowd of US conservatives at a convention near Washington on Saturday. Milei said he wanted to make Argentina "the first country in the world" to join the US in reciprocity.
China's EV maker XPeng eyes doubling global presence by year's end
One of China's leading electric vehicle makers XPeng plans to double the number of countries in which the company operates by the end of this year, its CEO said Saturday. China's government has supported the development and production of less polluting battery-powered vehicles, a field where Chinese manufacturers such as BYD and XPeng are leading the way. ehl/sn/dhc
France still seeking to block EU-Mercosur trade deal: Macron
France is still trying to assemble a "blocking minority" within the European Union to prevent a trade deal with four South American countries from coming into force, President Emmanuel Macron said on Saturday. "Neither an adjustment tool for purchasing power ... nor an adjustment tool for trade agreements," Macron said.
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