Asia markets: China trade data, US-China, currencies trade in focus

China reported notably weaker than expected November exports and imports, which pointed to slower global and domestic demand and raised the possibility that Beijing may undertake more measures to boost growth. The customs data showed that annual growth for exports to all of China’s major partners slowed significantly. “China’s November trade data missed expectations by a hefty margin,” said analysts from the Commonwealth Bank of Australia in a morning note. “Softer export growth reflects slower


China reported notably weaker than expected November exports and imports, which pointed to slower global and domestic demand and raised the possibility that Beijing may undertake more measures to boost growth. The customs data showed that annual growth for exports to all of China’s major partners slowed significantly. “China’s November trade data missed expectations by a hefty margin,” said analysts from the Commonwealth Bank of Australia in a morning note. “Softer export growth reflects slower
Asia markets: China trade data, US-China, currencies trade in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: eustance huang
Keywords: news, cnbc, companies, currencies, imports, asia, markets, poll, china, demand, slower, data, trade, domestic, expected, exports, uschina, global, growth, focus


Asia markets: China trade data, US-China, currencies trade in focus

China reported notably weaker than expected November exports and imports, which pointed to slower global and domestic demand and raised the possibility that Beijing may undertake more measures to boost growth.

November exports rose 5.4 percent from a year earlier, according to Chinese customs data on Saturday, which was below the 10 percent jump predicted by a Reuters poll. That number was also the weakest performance since a 3 percent contraction in March. The customs data showed that annual growth for exports to all of China’s major partners slowed significantly.

Import growth was 3 percent, the slowest since October 2016, and a fraction of the 14.5 percent expected in the Reuters poll. Imports of iron ore fell for a second time, reflecting waning restocking demand at steel-mills as profit margins narrow.

“China’s November trade data missed expectations by a hefty margin,” said analysts from the Commonwealth Bank of Australia in a morning note.

“Softer export growth reflects slower global growth and the fading effect of US importers’ front‑loading shipments to avoid increases in tariffs. Falling import growth points to softening domestic demand. But we expect Chinese fiscal stimulus to support imports in 2019,” they said.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: eustance huang
Keywords: news, cnbc, companies, currencies, imports, asia, markets, poll, china, demand, slower, data, trade, domestic, expected, exports, uschina, global, growth, focus


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Dual-class shares threaten Asia market fairness: Governance watchdog

The Asian Corporate Governance Association (ACGA) cited the introduction in Hong Kong and Singapore of dual-class shares — and concerns that the idea is spreading — as an example of local markets turning away from the principle of shareholder fairness. Dual-class shares allow for weighted voting rights and give company founders and insiders more control. Two Chinese companies — smartphone maker Xiaomi and food delivery app Meituan Dianping — listed in Hong Kong with weighted voting rights. “It c


The Asian Corporate Governance Association (ACGA) cited the introduction in Hong Kong and Singapore of dual-class shares — and concerns that the idea is spreading — as an example of local markets turning away from the principle of shareholder fairness. Dual-class shares allow for weighted voting rights and give company founders and insiders more control. Two Chinese companies — smartphone maker Xiaomi and food delivery app Meituan Dianping — listed in Hong Kong with weighted voting rights. “It c
Dual-class shares threaten Asia market fairness: Governance watchdog Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: kelly olsen, isaac lawrence, afp, getty images
Keywords: news, cnbc, companies, weighted, asia, acga, governance, fairness, report, rights, shares, threaten, hong, singapore, kong, market, dualclass, voting, watchdog


Dual-class shares threaten Asia market fairness: Governance watchdog

Two decades of progress on corporate governance in Asian markets and companies is coming under threat by increasingly “localist” thinking, a watchdog group warned Wednesday.

The Asian Corporate Governance Association (ACGA) cited the introduction in Hong Kong and Singapore of dual-class shares — and concerns that the idea is spreading — as an example of local markets turning away from the principle of shareholder fairness.

“The strong commitment to quality and better practices of the past 20 years is starting to become undermined by a more localist and divisive way of thinking,” the Hong Kong-based ACGA said in its 2018 report on corporate governance, released in conjunction with financial company CLSA.

Jamie Allen, ACGA secretary general, said that principles of transparency, accountability and fairness have underpinned steady progress.

“Our feeling now, with the introduction of dual-class shares in particular, is the issue of fairness is being undermined in certain markets, particularly Hong Kong and Singapore,” he told reporters in Hong Kong at the release of the report, which comes out every two years.

Dual-class shares allow for weighted voting rights and give company founders and insiders more control. The New York Stock Exchange and Nasdaq in the United States allow the practice and companies such as Facebook and Google have them. The idea has spread to Asia as exchanges battle for competitive initial public offerings.

Hong Kong and Singapore introduced the concept this year. Two Chinese companies — smartphone maker Xiaomi and food delivery app Meituan Dianping — listed in Hong Kong with weighted voting rights. There have been none in Singapore yet.

Despite the paucity so far, Allen expressed concern of “contagion” as the idea spreads, citing it being under consideration in South Korea and seen as potentially attractive in China.

“It creates this very unfair system,” Allen told CNBC, adding dual-class shares essentially lock out a company’s board of directors.

“People who have a minority of the shares totally control the company,” he said. “And therefore that undermines the role of other shareholders.”

Stock market operator Hong Kong Exchanges and Clearing said in an email to CNBC in response to the ACGA report that it changed its listing rules to “enhance Hong Kong’s competitiveness as a global financial center.”

It added that weighted voting rights “include additional investor safeguards such as restrictions on post-listing share transfers and a ‘natural sunset’ clause for shares listed under the rules.”

A spokeswoman for the Singapore Exchange said she had not seen the ACGA report, so would not be able to comment.

However, that exchange said in a June release announcing its rules for dual-class shares that it was joining “global exchanges in Canada, Europe and the U.S.” in doing so and implemented safeguards to counter associated risks, including one vote for all shares for certain actions, such as when appointing and removing independent directors.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: kelly olsen, isaac lawrence, afp, getty images
Keywords: news, cnbc, companies, weighted, asia, acga, governance, fairness, report, rights, shares, threaten, hong, singapore, kong, market, dualclass, voting, watchdog


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Women in Asia are a growing luxury force, report shows

Women — especially in China — are playing an increasingly big role in Asia’s luxury spending. That is a key finding of Wealth Report Asia 2018, Bank Julius Baer’s latest look into high-end consumption in the region released Tuesday. And while China continues to dominate overall global luxury spending — accounting for 30 percent — women are becoming an increasing force in that aspect of conspicuous consumption in the world’s second-largest economy. “In terms of how much they buy, women actually a


Women — especially in China — are playing an increasingly big role in Asia’s luxury spending. That is a key finding of Wealth Report Asia 2018, Bank Julius Baer’s latest look into high-end consumption in the region released Tuesday. And while China continues to dominate overall global luxury spending — accounting for 30 percent — women are becoming an increasing force in that aspect of conspicuous consumption in the world’s second-largest economy. “In terms of how much they buy, women actually a
Women in Asia are a growing luxury force, report shows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: kelly olsen, viewstock, getty images
Keywords: news, cnbc, companies, spending, force, china, baers, report, women, luxury, growing, asia, wealth, julius, consumption, shows


Women in Asia are a growing luxury force, report shows

Women — especially in China — are playing an increasingly big role in Asia’s luxury spending.

That is a key finding of Wealth Report Asia 2018, Bank Julius Baer’s latest look into high-end consumption in the region released Tuesday.

It tracks the spending habits of so-called high-net-worth individuals, which the Swiss private banking group said have “net investable wealth” of more than $1 million, excluding property in which they mainly reside.

It said that the growing buying power of wealthy Asian women is driven by factors including more of them in senior management positions and more self-made female millionaires.

And while China continues to dominate overall global luxury spending — accounting for 30 percent — women are becoming an increasing force in that aspect of conspicuous consumption in the world’s second-largest economy.

“In terms of how much they buy, women actually account for half of Chinese luxury spending,” Julius Baer’s Pearlyn Wong, executive director for markets and advisory solutions in the Asia Pacific, told reporters while introducing the findings.

The report described that as a trend that’s been developing for the past five years.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: kelly olsen, viewstock, getty images
Keywords: news, cnbc, companies, spending, force, china, baers, report, women, luxury, growing, asia, wealth, julius, consumption, shows


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Uber’s India business has topped $1.6 billion in annualized bookings, according to internal email

Uber has been selling off its local businesses in big emerging markets like China and Southeast Asia. In an email obtained by CNBC, Uber’s India head Pradeep Parameswaran told company executives, including CEO Dara Khosrowshahi and CFO Nelson Chai, that Uber India reached an annualized bookings rate of $1.64 billion in the third quarter. Parameswaran wrote that Uber will close the year in its “strongest position ever — as the ride-sharing leader in India.” India marks Uber’s last stand in Asia.


Uber has been selling off its local businesses in big emerging markets like China and Southeast Asia. In an email obtained by CNBC, Uber’s India head Pradeep Parameswaran told company executives, including CEO Dara Khosrowshahi and CFO Nelson Chai, that Uber India reached an annualized bookings rate of $1.64 billion in the third quarter. Parameswaran wrote that Uber will close the year in its “strongest position ever — as the ride-sharing leader in India.” India marks Uber’s last stand in Asia.
Uber’s India business has topped $1.6 billion in annualized bookings, according to internal email Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: deirdre bosa, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, local, india, billion, internal, according, email, bookings, company, sold, asia, southeast, ubers, stake, business, topped, uber, annualized


Uber's India business has topped $1.6 billion in annualized bookings, according to internal email

Uber has been selling off its local businesses in big emerging markets like China and Southeast Asia. But the company’s India unit isn’t going anywhere.

In an email obtained by CNBC, Uber’s India head Pradeep Parameswaran told company executives, including CEO Dara Khosrowshahi and CFO Nelson Chai, that Uber India reached an annualized bookings rate of $1.64 billion in the third quarter.

Parameswaran wrote that Uber will close the year in its “strongest position ever — as the ride-sharing leader in India.” He said the company doubled its engineering team as of the third quarter and plans to double again next year in its two big hubs of Bangalore and Hyderabad.

India marks Uber’s last stand in Asia. The San Francisco-based company spent billions of dollars building its business across the region, before ultimately consolidating with local players. In 2016, Uber sold off its China operations to Didi Chuxing for a 20 percent stake in its former rival, and in March of this year Uber sold its business in eight countries across Southeast Asia for a 27.5 percent stake in regional leader Grab. Uber also merged its Russian business with Yandex in 2017.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: deirdre bosa, david paul morris, bloomberg, getty images
Keywords: news, cnbc, companies, local, india, billion, internal, according, email, bookings, company, sold, asia, southeast, ubers, stake, business, topped, uber, annualized


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Stocks in Asia trade higher after US and China postpone tariff escalation

The moves in Asia came after Chinese President Xi Jinping and U.S. President Donald Trump agreed to a momentary pause on escalating the ongoing trade war between the two economic powerhouses. They did, however, add that “analysts are already looking at the details and it doesn’t take long for doubts to come through on the strength of the agreement.” Over the next 90 days, American and Chinese officials will continue to negotiate lingering disagreements on technology transfer, intellectual proper


The moves in Asia came after Chinese President Xi Jinping and U.S. President Donald Trump agreed to a momentary pause on escalating the ongoing trade war between the two economic powerhouses. They did, however, add that “analysts are already looking at the details and it doesn’t take long for doubts to come through on the strength of the agreement.” Over the next 90 days, American and Chinese officials will continue to negotiate lingering disagreements on technology transfer, intellectual proper
Stocks in Asia trade higher after US and China postpone tariff escalation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: eustance huang
Keywords: news, cnbc, companies, xi, president, trade, chinese, worth, escalation, futures, postpone, china, higher, dow, asia, statement, tariff, trump, morning, stocks


Stocks in Asia trade higher after US and China postpone tariff escalation

The moves in Asia came after Chinese President Xi Jinping and U.S. President Donald Trump agreed to a momentary pause on escalating the ongoing trade war between the two economic powerhouses.

“This is probably the best case scenario that markets were hoping for from the meeting of Trump and Xi and we’ve seen that anticipated ‘risk on’ rally this morning,” said Rakuten Securities Australia in a morning note.

They did, however, add that “analysts are already looking at the details and it doesn’t take long for doubts to come through on the strength of the agreement.”

“A simple look at the two press statements from either side shows some quite glaring differences of opinion and this could lead to a relatively short lived lift in investor confidence,” said the note.

A White House statement about the leaders’ dinner at the G-20 summit in Argentina said Xi and Trump discussed a range of nettlesome issues — among them the trade dispute that has left over $200 billion worth of goods hanging in the balance.

“President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10 percent rate, and not raise it to 25 percent at this time,” the statement read. Over the next 90 days, American and Chinese officials will continue to negotiate lingering disagreements on technology transfer, intellectual property and agriculture.

On the back of that development, Dow Jones Industrial Average futures jumped 400 points shortly after the start of trading at 6 p.m. in New York on Sunday.

As of 8:36 p.m. ET Sunday, futures pointed to an implied gain of 411.54 at the open for the Dow.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: eustance huang
Keywords: news, cnbc, companies, xi, president, trade, chinese, worth, escalation, futures, postpone, china, higher, dow, asia, statement, tariff, trump, morning, stocks


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Cracking the Chinese market requires patience and localization, Western executives say

To break into China and expand their businesses in Asia, companies need to establish a long-term strategy and a deep understanding of local practices, several business leaders told CNBC. As a result, Chinese start-ups have often pushed beyond the ethical boundaries of what a Western company might consider appropriate, before authorities step in. “There aren’t many Western tech companies that have had success in China because it is a very competitive environment,” Mikkel Hippe Brun, co-founder of


To break into China and expand their businesses in Asia, companies need to establish a long-term strategy and a deep understanding of local practices, several business leaders told CNBC. As a result, Chinese start-ups have often pushed beyond the ethical boundaries of what a Western company might consider appropriate, before authorities step in. “There aren’t many Western tech companies that have had success in China because it is a very competitive environment,” Mikkel Hippe Brun, co-founder of
Cracking the Chinese market requires patience and localization, Western executives say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, dave zhong, getty images for cnbc, -jay li, general manager of greater china for world wrestli
Keywords: news, cnbc, companies, decision, seen, need, say, asia, china, market, patience, western, kjol, requires, executives, localization, chinese, cracking, tech, companies


Cracking the Chinese market requires patience and localization, Western executives say

To break into China and expand their businesses in Asia, companies need to establish a long-term strategy and a deep understanding of local practices, several business leaders told CNBC.

“If you want to come to Asia, and think that (you can just) turn around, bring back a bag full of money, don’t make that mistake,” said Hakon Bruaset Kjol, senior vice president, partner and external relations Asia, at mobile network operator Telenor. “We have seen so many companies come and try to do that. You need to be long term.”

Speaking Wednesday at CNBC’s East Tech West conference in the Nansha district of Guangzhou in China, Kjol said that the process of entering the Asian market will take longer for companies coming in with Western-developed principles and codes of conduct.

Beijing especially has tended to take a more reactionary approach to regulating fast-growing industries such as technology. As a result, Chinese start-ups have often pushed beyond the ethical boundaries of what a Western company might consider appropriate, before authorities step in.

“There aren’t many Western tech companies that have had success in China because it is a very competitive environment,” Mikkel Hippe Brun, co-founder of cloud-based supply chain company Tradeshift, said in a separate session at the conference on Wednesday. “Chinese companies run with Chinese speed and very short decision cycles. So Western companies (are) always behind, (and) seen as slow in those decision cycles.”


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: evelyn cheng, dave zhong, getty images for cnbc, -jay li, general manager of greater china for world wrestli
Keywords: news, cnbc, companies, decision, seen, need, say, asia, china, market, patience, western, kjol, requires, executives, localization, chinese, cracking, tech, companies


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Asia trades cautiously ahead of crucial Trump-Xi talks at G-20 summit

Japan’s Nikkei 225 was up 0.25 percent while the Topix index rose 0.23 percent. In Australia, the benchmark ASX 200 slipped 0.7 percent in morning trade, with most sectors declining. The session in Asia follows a lower finish on Wall Street, where the Dow Jones industrial average snapped a three-day winning streak. Trump told reporters Thursday that he was “close” to doing something on trade with China but added he wasn’t sure if he wanted to do it. “Because what we have right now is billions an


Japan’s Nikkei 225 was up 0.25 percent while the Topix index rose 0.23 percent. In Australia, the benchmark ASX 200 slipped 0.7 percent in morning trade, with most sectors declining. The session in Asia follows a lower finish on Wall Street, where the Dow Jones industrial average snapped a three-day winning streak. Trump told reporters Thursday that he was “close” to doing something on trade with China but added he wasn’t sure if he wanted to do it. “Because what we have right now is billions an
Asia trades cautiously ahead of crucial Trump-Xi talks at G-20 summit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, wrote, morning, ahead, trump, g20, trades, billions, summit, talks, trade, xi, australia, crucial, cautiously, asia, markets, trumpxi


Asia trades cautiously ahead of crucial Trump-Xi talks at G-20 summit

Asia Pacific markets were cautious Friday morning as investors waited for a highly-anticipated meeting between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit in Argentina, which many are hoping would help ease escalating trade tensions between the two countries.

Japan’s Nikkei 225 was up 0.25 percent while the Topix index rose 0.23 percent. South Korea’s Kospi traded fractionally higher at 2,116.04.

In Australia, the benchmark ASX 200 slipped 0.7 percent in morning trade, with most sectors declining. The heavily-weighted financial subindex was down 0.79 percent while the materials sector fell 0.15 percent.

The session in Asia follows a lower finish on Wall Street, where the Dow Jones industrial average snapped a three-day winning streak.

“Markets have been choppy this morning amid varying views on the prospect of any sort of trade deal this weekend between Trump and Xi at the G20,” David de Garis, director of economics and markets at the National Australia Bank, wrote in a morning note.

Trump told reporters Thursday that he was “close” to doing something on trade with China but added he wasn’t sure if he wanted to do it. “Because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes, so I really don’t know,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, wrote, morning, ahead, trump, g20, trades, billions, summit, talks, trade, xi, australia, crucial, cautiously, asia, markets, trumpxi


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Asia trades higher after remarks by Fed’s Powell gave US stocks a boost

Japan’s Nikkei 225 rose 0.76 percent in morning trade while the Topix index added 0.75 percent. Greater China markets also rose: The Shanghai composite was up 0.49 percent in early trade while the Shenzhen composite added 0.56 percent. The energy subindex was up 0.5 percent, materials was higher by 1.14 percent and the heavily weighed financial sector added 0.76 percent. Stock market reaction in the U.S. was spurred by remarks from Federal Reserve Chairman Jerome Powell. During the meeting, Trum


Japan’s Nikkei 225 rose 0.76 percent in morning trade while the Topix index added 0.75 percent. Greater China markets also rose: The Shanghai composite was up 0.49 percent in early trade while the Shenzhen composite added 0.56 percent. The energy subindex was up 0.5 percent, materials was higher by 1.14 percent and the heavily weighed financial sector added 0.76 percent. Stock market reaction in the U.S. was spurred by remarks from Federal Reserve Chairman Jerome Powell. During the meeting, Trum
Asia trades higher after remarks by Fed’s Powell gave US stocks a boost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, trade, market, gave, rate, powell, higher, stocks, remarks, feds, meeting, rose, dollar, morning, trades, added, trump, asia, boost


Asia trades higher after remarks by Fed's Powell gave US stocks a boost

Asia markets traded higher on Thursday morning ahead of a crucial meeting between President Donald Trump and Chinese leader Xi Jinping, which many are hoping would help ease trade tensions between the U.S. and China.

Japan’s Nikkei 225 rose 0.76 percent in morning trade while the Topix index added 0.75 percent. South Korea’s Kospi rose 0.82 percent.

Greater China markets also rose: The Shanghai composite was up 0.49 percent in early trade while the Shenzhen composite added 0.56 percent. Hong Kong’s Hang Seng index gained 0.59 percent.

In Australia, the ASX 200 added 0.57 percent, with advances in most sectors. The energy subindex was up 0.5 percent, materials was higher by 1.14 percent and the heavily weighed financial sector added 0.76 percent.

The session in Asia follows a major rally on Wall Street, where the Dow Jones industrial average jumped more than 600 points.

Stock market reaction in the U.S. was spurred by remarks from Federal Reserve Chairman Jerome Powell. He said Wednesday that he considers the central bank’s benchmark interest rate to be near a neutral level, an important distinction from remarks he made less than two months ago.

“Considering that there’s been no interest rate hikes since September, these comments tell us one of two things, which is that the Fed has finally figured out where the neutral rate is or they believe that a pause in tightening has become necessary,” Kathy Lien, managing director of foreign-exchange strategy at BK Asset Management, wrote in an evening note on Wednesday.

“Chances are it’s the latter because economic data has been weakening, stocks have been falling and lower oil and gas prices restrict rather than encourage inflation,” she said.

Powell’s comments pushed the U.S. dollar lower against a basket of its peers, with the dollar index trading at 96.838 Thursday morning, down from levels above 97.200 overnight.

Lien also pointed out that it was important to realize while Powell’s remarks “could be a game changer” for the dollar, external factors that are driving other currencies lower have not changed.

Still, worries and uncertainties remain, according to other market watchers.

“Market sentiment had been a little more positive before Powell’s speech, but trade uncertainty continues to weigh,” Jack Chambers from ANZ Research wrote in a morning note. “Investors will be looking for progress at the Trump-Xi meeting this weekend, after it was reported that President Trump is weighing up more tariffs.”

Top White House economic advisor Larry Kudlow said earlier this week that the Trump administration has restarted talks with the Chinese government “at all levels” ahead of the high-stakes meeting between both presidents at the G-20 summit in Argentina.

During the meeting, Trump is set to focus on issues including alleged Chinese theft of intellectual property, ownership of American companies in China and tariffs and non-tariff barriers.

In the broader currency market, the yen traded at 113.51 to the dollar while the Australian dollar was around $0.7298, jumping from levels below $0.7250.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, trade, market, gave, rate, powell, higher, stocks, remarks, feds, meeting, rose, dollar, morning, trades, added, trump, asia, boost


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Cisco looks to Southeast Asia for its global digitization program

Cisco: Besides tech, we also need training and education 1 Hour Ago | 03:00Information technology giant Cisco is on a mission to increase global digitization and it has its eyes set on Southeast Asia. Cisco hopes to increase a country’s competitiveness, economic growth, job creation and innovation through investments in the startup space, education, infrastructure and healthcare. Southeast Asia is “primed” for the program, Guy Diedrich, vice president and global innovation officer at Cisco, told


Cisco: Besides tech, we also need training and education 1 Hour Ago | 03:00Information technology giant Cisco is on a mission to increase global digitization and it has its eyes set on Southeast Asia. Cisco hopes to increase a country’s competitiveness, economic growth, job creation and innovation through investments in the startup space, education, infrastructure and healthcare. Southeast Asia is “primed” for the program, Guy Diedrich, vice president and global innovation officer at Cisco, told
Cisco looks to Southeast Asia for its global digitization program Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: nyshka chandran, josep lago, afp, getty images
Keywords: news, cnbc, companies, global, digital, tech, digitization, diedrich, innovation, looks, asia, southeast, program, education, increase, cisco, growth


Cisco looks to Southeast Asia for its global digitization program

Cisco: Besides tech, we also need training and education 1 Hour Ago | 03:00

Information technology giant Cisco is on a mission to increase global digitization and it has its eyes set on Southeast Asia.

The American multinational company operates a worldwide initiative called the Country Digital Acceleration strategy that helps nations make efficient use of big data, the Internet of Things and smart connectivity. Cisco hopes to increase a country’s competitiveness, economic growth, job creation and innovation through investments in the startup space, education, infrastructure and healthcare.

Southeast Asia is “primed” for the program, Guy Diedrich, vice president and global innovation officer at Cisco, told CNBC’s Akiko Fujita on Thursday. Not only is the region “very entrepreneurial,” it also boasts “a highly educated population” and “off the charts” gross domestic product growth, he said.

Speaking at the East West Tech conference in China’s Nansha district, Diedrich said the program essentially creates a digital architecture for a government and then builds an execution plan for stakeholders to follow. The goal, he explained, is to help countries transition into knowledge-based economies.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: nyshka chandran, josep lago, afp, getty images
Keywords: news, cnbc, companies, global, digital, tech, digitization, diedrich, innovation, looks, asia, southeast, program, education, increase, cisco, growth


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Trade tensions won’t just ‘go away’ because of G-20 meeting, says Citi

The tariff dispute between the U.S. and China is more about strategic dominance than it is about trade, said Citibank’s Asia Pacific regional head of investments. “It’s not something that’s likely to go away just because of the meeting that’s going to happen on Saturday,” said Shrikant Bhat, Citibank’s regional head of investments for Asia Pacific and Europe, Middle East and Africa. He was referring to a much-anticipated meeting between U.S. President Donald Trump and his Chinese counterpart Xi


The tariff dispute between the U.S. and China is more about strategic dominance than it is about trade, said Citibank’s Asia Pacific regional head of investments. “It’s not something that’s likely to go away just because of the meeting that’s going to happen on Saturday,” said Shrikant Bhat, Citibank’s regional head of investments for Asia Pacific and Europe, Middle East and Africa. He was referring to a much-anticipated meeting between U.S. President Donald Trump and his Chinese counterpart Xi
Trade tensions won’t just ‘go away’ because of G-20 meeting, says Citi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: huileng tan, carlos barria
Keywords: news, cnbc, companies, citi, thats, pacific, head, citibanks, wont, meeting, away, regional, higher, tensions, asia, trade, g20


Trade tensions won't just 'go away' because of G-20 meeting, says Citi

The tariff dispute between the U.S. and China is more about strategic dominance than it is about trade, said Citibank’s Asia Pacific regional head of investments.

“It’s not something that’s likely to go away just because of the meeting that’s going to happen on Saturday,” said Shrikant Bhat, Citibank’s regional head of investments for Asia Pacific and Europe, Middle East and Africa.

He was referring to a much-anticipated meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the G20 summit in Buenos Aires, Argentina.

However, Bhat added, any effort to douse tensions — such as the U.S. postponing higher tariffs on Chinese imports that were due to take effect in January — will be seen as positive news for the markets.

On Thursday, Asia markets traded higher ahead of the crucial meeting between the two leaders, which many are hoping would help ease trade tensions between the two economic powerhouses.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: huileng tan, carlos barria
Keywords: news, cnbc, companies, citi, thats, pacific, head, citibanks, wont, meeting, away, regional, higher, tensions, asia, trade, g20


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