The Buzz | Uber acquires Mideast competitor Careem for USD3.1 billion

Ride-hailing service Uber announced on Tuesday it has acquired Mideast competitor Careem for USD3.1 billion, giving the San Francisco-based firm the commanding edge in a region with a

China has a lot of financial opening up to do, says central bank

The openness of China’s financial markets to the rest of the world isn’t high, so there’s a lot of room for increased access, according to People’s Bank

Fake Chinese range rovers barred in rare mainland court victory

A Chinese court ordered a local carmaker to stop selling a copycat version of the Range Rover Evoque in China, a rare legal victory for foreign companies locked

Corporate Bits | Melco Green week raises environmental awareness

Melco Resorts & Entertainment has hosted a series of green-related events to raise environmental awareness in the community, targeting both employees and members of the wider local community.

Long-awaited video service expected from Apple today

Apple is expected to announce today that it’s launching a video service that could compete with Netflix, Amazon and cable TV itself. It’s a

Medicine | China pledges stronger reform on approving, monitoring new drugs

China pledged to improve its system for registering new drugs in the country this year and more closely monitor those medicines after they’ve entered the market, part

Alibaba buys Israeli AR startup

Chinese e-commerce giant Alibaba Group Holding Ltd. has acquired Israeli startup Infinity Augmented Reality, after investing in the company three years ago. InfinityAR will join Alibaba’s

Tencent profit misses estimates as games slip, costs swell

Tencent Holdings Ltd. posted a quarterly profit that missed analysts’ estimates after it spent heavily on cloud and mobile payments businesses to offset a gaming slowdown.

Aviation | Boeing 737 crisis imperils Norwegian’s cut-price US routes

Norwegian Air Shuttle ASA’s reliance on the fuel- saving Boeing Co. 737 Max to underpin its ultra low-cost trans-Atlantic strategy has exposed the loss- making carrier as

Xi says China-Italy pact offers closer ties in strategic sectors

Chinese President Xi Jinping, brushing aside U.S. and European concerns ahead of his visit to Rome (more on p11), offered Italy a “global strategic partnership” stretching from

Tourism | Club Med touted as ex-President looks to secure Comoros vote win

Former Comoros President Azali Assoumani said leisure companies including Club Med may invest in the Indian Ocean archipelago, as he vowed to boost the tourism industry if

Technology | Chinese firm gets no lift from giant rally

If the rising tide of investor optimism in China (and tech shares) is supposed to lift all equity boats, then at the moment Xiaomi Corp. appears to

Cathay will mine personal data to tailor business-class service

Cathay Pacific Airways Ltd. is mining the data of its business- class customers so they’ll keep spending with the airline. The company has invested “a lot” in its data

Another HK stock slumps after activist calls it a bubble

Hong Kong’s most famous stock picker is on the attack again, criticizing the accounts of one of the city’s top performers this year. Kingdee International Software

Corporate bits | Melco participates in green week

Melco Resorts & Entertainment participated in Civic and Municipal Affairs Bureau (IAM)’s 38th Macao Green Week, presenting a butterfly garden-themed creative display featuring over 11 types of

After Danske, new dirty money risk seen in payment services

As one avenue for money launderers is shut, another one may be opening. In Denmark, home to Danske Bank A/S, the authorities are now taking a

Hong Kong seen spending billions more to defend currency peg

This round of currency intervention in Hong Kong is far from over. That’s according to analysts, who’re watching the interplay between the amount of money

Corporate Bits | Sichuan moon opens at Wynn palace

Wynn Palace Cotai announced the arrival of Sichuan Moon – a restaurant with internationally acclaimed Chef André Chiang. The restaurant will reinterpret the flavors of Sichuan cuisine,

Real Estate Matters | Spatially close, socially apart(ment)

Sam Lee is a marketing manager and property consultant at JML Property.  JML was established in 1994 and offers Investment Property & Homes. It specializes in managing properties

China brokerages’ 54 percent stock surge may be running out of steam

China’s brokerages are on pace for their best quarter since 2014, though a rare sell call is a sign the rally may be topping out. CSC

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