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Singapore has reclaimed its number three rank in the 2020 Bloomberg Innovation Index, after leaping three spots. However, economies across Asia-Pacific showed a mixed picture of progress. Singapore’s rise against global peers was underpinned by stronger…
Elon Musk saw $1.1 billion wiped from his net worth in the first two minutes of New York trading as Tesla Inc. shares sank as much as 11 percent. The fall cut his net worth to $22.3 billion on the Bloomberg Billionaires Index as of 9:32 a.m. The electric-car…
A report published says that YouTube has decided to do a 180 degree turn and is backing away from producing original programming. The Google-owned video streamer has canceled plans to develop some new comedies and dramas that it would have streamed to paid…
Satellite operator Inmarsat is in talks to be acquired by a consortium of private equity investors in a deal worth $3.3 billion. UK-based Inmarsat is still negotiating with the consortium members over the possible takeover and a binding offer has not yet been…
Apple’s TV service is still a no show, but that’s probably going to change very soon. The Cupertino-based company plans to use the March 25 event to outline how it will take on rivals like Amazon and Netflix, a new Bloomberg report claims. While Apple is…
Alibaba Group VC Joseph Tsai says the firm is unperturbed by China’s economic slowdown. Quoted in a Bloomberg report, Tsai said Alibaba is “delinked” from a Chinese economy in which more and more business are moving online because “we’re in e-commerce and…
Vietnam has for the first time entered the Bloomberg Innovation Index of the world’s 60 most innovative economies. It scored 45.92 out of 100 in the 2019 index. Other new entrants include India, Mexico and Saudi Arabia. Bloomberg said: “The index analyzes…
Stocks on Bursa Malaysia have endured a roller-coaster ride last year, with some creating big losses to investors on one day. Despite often seen as defensive investments, the Malaysian real estate investment trusts (M-REITs) also did not escape unscathed. A…
Nguyen Thi Phuong Thao is in Bloomberg’s list of 50 people who’ve been business game changers in 2018. Thao is the first Vietnamese citizen to be named in the Bloomberg list, which highlights key players in all fields, from finance to fashion, media to…
LVMH sales surged 15 per cent in the latest quarter to €9.88 billion (US$10.477 billion). That was nearly €400 million more than analysts had been expecting, with the result driven across all of the luxury group’s business units. Fashion and leather goods,…
Indian e-commerce giant Flipkart has closed a US$1 billion funding round, with plans to raise an equal amount over the next few months. Investors who have contributed to this round include eBay, Microsoft and Tencent Holdings, Bloomberg reports. The funding…
Alibaba Group Holding has surpassed Tencent Holdings and China Mobile in market capitalisation to become Asia’s richest company. Alibaba’s market value rose to US$261 billion in New York last week, overtaking Tencent’s US$255.98 billion capitalisation in Hong…
As more people start using their smartphones or the internet to order food, China’s eCommerce leaders are in a battle for supremacy. Now a food-delivery startup backed by Tencent Holdings, Ele.me, is planning a fast funding round of at least $1.25 billion, in…
