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☆ Venture firms could be the latest target for AI disruption, and that's not the only threat to VCs
▼ + stars: | 2024-06-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at how AI could completely upend venture capitalism amid a wider shakeup for the industry . The generative AI boom was a welcome change for a venture industry looking for a new trend to back (and hopefully profit from). Some of the adjustments aren't novel to the VC industry. ACME Capital; Getty Images, Chelsea Jia Feng/BIThe VC industry might be doomed with or without AI. AdvertisementScott Stanford, a cofounder and partner at early-stage VC firm ACME Capital, told BI's Blake Dodge that half of today's VC firms will shutter in the next decade .

Persons: —, VCs zentilia, Jenny Chang, Rodriguez, Insider's Ben Bergman, Ben, Long, Scott Stanford, Chelsea Jia Feng, BI's Blake Dodge, Hany Nada, Jared Siskin, Bobby Jain's, Jonathan Barton, Jain, Rebecca Zisser, OpenAI, Apple, Elif, Jeff Bezos, Robert Winnett, Will Lewis, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Grace Lett, Amanda Yen Organizations: Service, Business, ACME, Getty, ACME Capital, Stanford, BI, Madison, Conservancy, Jain, EV, Ford, European, Regulators, Anadolu Agency, Getty Images, Washington, Harvard, Leagues Locations: today's, Wall, Saudi, Saudi Arabia, Europe, Brazil, Southeast Asia, London, American, Paris, New York, Chicago

☆ China employing 'gray zone tactics' at contested Second Thomas Shoal, Lowy Institute's Yaacob says
▼ + stars: | 2024-06-24 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Chinese Coast Guard vessels fire water cannons towards a Philippine resupply vessel Unaizah May 4 on its way to a resupply mission at Second Thomas Shoal in the South China Sea, March 5, 2024. China said the United States must refrain from "stirring up trouble" or taking sides on the South China Sea issue, after U.S. Secretary of State Antony Blinken said a security deal with the Manila extended to attacks on the Philippine coast guard. China is employing "gray zone tactics" against the Philippines at the contested Second Thomas Shoal reef, a move likely aimed at avoiding U.S. intervention in the region, according to Lowy Institute's Rahman Yaacob. Last week, Philippine officials said Chinese forces damaged the country's boats and injured several sailors near the Second Thomas Shoal — claimed by both Beijing and Manila — in the Spratly Islands of the South China Sea. Gray zone tactics refer to "coercive actions that are shy of armed conflict but beyond normal diplomatic, economic, and other activities," according to Rand Corporation.

Persons: Shoal, Antony Blinken, Lowy Institute's Rahman Yaacob, Thomas Shoal —, Yaacob Organizations: Guard, U.S, Manila —, Asia Program, Lowy Institute, Rand Corporation, Philippine Locations: Philippine, South China, China, United States, Manila, Philippines, Beijing, Spratly Islands, Yaacob, Asia, India

☆ Vladimir Putin and Kim Jong Un are getting closer — and China has reason to be worried
▼ + stars: | 2024-06-24 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewRussia's President Vladimir Putin and North Korean leader Kim Jong Un recently signed a defense pact to protect against what they characterized as the malign forces of US imperialism. AdvertisementXi Jinping and Kim Jong Un watch a large group callisthenics and art performance at the May Day Stadium in Pyongyang, DPRK, June 20, 2019. An emboldened Kim Jong UnRussia's extra military power could embolden Kim to act more erratically and aggressively. AdvertisementThis means that China has enough influence over both Russia and North Korea to exert control over their new alliance. However, "they do know that China plays an irreplaceable role for both Russia and North Korea," she said.

Persons: —, Vladimir Putin, Kim Jong, it's, Putin, Kim, Xi Jinping, Danny Russel, Obama, Xi, embolden Kim, Russell, Yun Sun Organizations: Service, North, Business, Associated Press, Xinhua, Agency, Getty Images, Stimson, CNN Locations: East Asia, Russia, North, China, DPRK, Asia, North Korea, Korea, Ukraine, Beijing, Pyongyang, Getty Images Russia, Washington

☆ 'Excellent buying opportunities': Morgan Stanley's Slimmon names 3 stocks he likes right now
▼ + stars: | 2024-06-24 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

Equity markets have been rallying in the past week, with the S & P 500 benchmark briefly hitting a high of 5,500 last week before losing traction. That movement has raised concerns on whether valuations are stretched, but Morgan Stanley's Andrew Slimmon has maintained his bullish stance on the stock market. "But what's important to remember is that the S & P 500 has rallied 7 of the last 8 months and is up 40% from the October lows. One merit of large-cap stocks is that they "have better earnings revisions than the small-caps," since they buy back their stocks more aggressively, he explained. Three stocks Slimmon likes right now include investment bank JPMorgan Chase , insurance company Progressive Corp and Irish building materials company CRH .

Persons: Morgan Stanley's Andrew Slimmon, I'm, CNBC's, Slimmon Organizations: Morgan Stanley Investment Management, CNBC, U.S . Federal Reserve, JPMorgan Chase, Progressive Corp

☆ Japan and South Korea Are Fighting Over an App at a Tense Time
▼ + stars: | 2024-06-24 | by ( River Akira Davis | ) www.nytimes.com time to read: +1 min

A joint venture set up in 2019 by two top Japanese and South Korean companies was hailed as a beacon of cooperation amid strained diplomatic relations. Executives from South Korea’s Naver and Japan’s SoftBank Group said they would jointly own the operator of Line, a South Korean-developed messaging app popularized in Japan. Five years later, Japan and South Korea have made significant strides in easing longstanding historical tensions. Japan and South Korea, both key United States allies in Asia, have a sensitive history. Japan colonized Korea from 1910 until Japan’s surrender in World War II in 1945, and Japan and South Korea have often scuffled over territory and geopolitical differences.

Persons: Japan’s Locations: South Korea’s, Korean, Japan, South Korea, States, Asia, Korea

☆ ‘It’s All Happening Again.’ The Supply Chain Is Under Strain.
▼ + stars: | 2024-06-24 | by ( Peter S. Goodman | ) www.nytimes.com time to read: +1 min

Stephanie Loomis had hoped that the chaos besieging the global supply chain was subsiding. The multiplying costs of moving freight. Over the last few months, she has watched cargo prices soar as a series of disturbances have roiled the seas. That prompted ships to avoid the waterway, instead moving the long way around Africa, lengthening their journeys by as much as two weeks. Then, a severe drought in Central America dropped water levels in the Panama Canal, forcing authorities to limit the number of ships passing through that crucial conduit for international trade.

Persons: Stephanie Loomis, Loomis, Houthi Organizations: Americas, Rhenus Logistics Locations: Germany, Yemen, Suez, Asia, Europe, East Coast, United States, Africa, Central America, Panama

☆ Southeast Asia is a top choice for firms diversifying supply chains amid U.S.-China tensions
▼ + stars: | 2024-06-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

Skyline, Ho Chi Minh City, Vietnam John Harper | Photodisc | Getty ImagesSoutheast Asia has emerged as a top choice for firms looking to diversify production away from China, including Chinese companies, amid escalating tensions between Washington and Beijing. "Southeast Asia is well-placed to benefit significantly from the China+1 phenomenon as both foreign and Chinese companies diversify their supply chains and operations," said Kuo-Yi Lim, co-founder and managing partner of Southeast Asian venture capital firm Monk's Hill Ventures. "The ASEAN-6 region has benefited from a diversification of global and regional supply chain as well as the adoption of 'China+1' strategies. MalaysiaMalaysia has seen semiconductor firms including Intel, GlobalFoundries and Infineon setting up or expanding operations in the country over the last few years amid U.S.-China tensions. Chinese electric vehicle maker BYD plans to start commercial production of EVs in Indonesia in 2026, according to local reports.

Persons: Vietnam John Harper, Kuo, Yi Lim, Lim, Yinglan Tan, Kai Wei Ang, CNBC's, It's, Ang, Anders C, Johansson, –, Sokon – Organizations: Photodisc, Getty, Monk's Hill Ventures, ASEAN, Hong Kong SAR, Apple, Ventures Partners, Samsung, BofA Securities, Intel, GlobalFoundries, Infineon, U.S, Monk's Hill Ventures . Industry, Malaysia that's, Stockholm China Economic Research, Stockholm School of Economics, Chery, Singapore Locations: Chi Minh City, Vietnam, Asia, China, Washington, Beijing, Monk's, Indonesia, Malaysia, Philippines, Thailand, Singapore, U.S, Japan, European Union, China & Hong Kong, Hong Kong, Vietnam Vietnam, ASEAN, Malaysia Malaysia, Stockholm China, EVs

☆ North Korean balloons ‘presumed’ to be carrying waste seen in South Korea as tensions flare
▼ + stars: | 2024-06-24 | by ( Gawon Bae | Michael Mitsanas | ) edition.cnn.com time to read: +4 min

Seoul CNN —North Korean balloons “presumed” to be carrying waste were spotted in South Korea on Monday, reigniting a tit-for-tat exchange as tensions on the Korean Peninsula continue to heighten. On Thursday, a South Korean advocacy group flew 20 large balloons carrying thousands of anti-North Korean propaganda leaflets and USB sticks with South Korean entertainment toward North Korea. The balloons also carried damaged clothes from a South Korean brand, signaling “hostility towards South Korean goods,” as well as clothes with imitations of Disney characters, according to the ministry. In the meantime, a US Navy aircraft carrier arrived in South Korea over the weekend ahead of trilateral exercises with South Korea and Japan in the waters near the peninsula. US and South Korean officials signed a new memorandum of understanding on diplomatic intelligence sharing and analysis on Monday, according to South Korea’s foreign ministry.

Persons: Kim Jong Un, Kim Yo Jong, North, ”, Vladimir Putin, Kim Jong, Kristina Kormilitsyna, Kim Organizations: Seoul CNN —, Korea’s, Chiefs, Staff, South, North, US Navy, Korean, ROK, DPRK, United Nations, Northeast Locations: Seoul, South Korea, Gyeonggi Province, Seoul’s, Korean, North Korea, ”, Pyongyang, Japan, Russia, United States, DPRK, Northeast Asia, Europe

☆ World’s best airline for 2024 named by Skytrax
▼ + stars: | 2024-06-24 | by ( Barry Neild | ) edition.cnn.com time to read: +7 min

We look forward to more wins in the future.”Close-run contestSaudia was named by Skytrax as winner of the World's Most Improved Airline award. Singapore also won for Best First Class service and Best Airline in Asia. ANA, meanwhile, picked up the accolade for World’s Best Airport Services, as well as Best Airline Staff Service in Asia. Saudia was named World’s Most Improved Airline, beating Taiwan’s Starlux and Iceland’s Play into second and third places. Delta Air Lines was declared the Best Airline in North America, also picking up the award for Best Airline Staff Service for the region.

Persons: weren’t, ”, Edward Plaisted, Badr Mohammed Al, Meer, Saudia, Skytrax, Nicolas Economou, Tan, Tan Pee Teck, Taiwan’s Starlux, Singapore’s Scoot, Tony Fernandes, “, ISMOYO, Vistara, airBaltic Organizations: CNN, Qatar Airways, Hamad International, Dubai, Boeing, Airbus, Singapore Airlines, Dubai’s Emirates, ANA All Nippon Airways, Hong, Cathay Pacific, Japan Airlines, Turkish Airlines, Air France, Swiss International Airlines, Singapore, Best, ANA, World’s Best, Services, Best Airline Staff Service, AirAsia, Airline, Airasia, Rai International, Getty, Bangkok Airways, Fiji Airways, Ethiopian Airlines, Hainan Airlines, China . Delta Air Lines, Airlines, Emirates, Cathay, Air, Swiss International Air Lines, Korean, British Airways, Iberia, Virgin, Lufthansa, Etihad Airways, Saudi, Saudi Arabian Airlines, Garuda, Cathay Pacific Airways, Thai Airways, Malaysia Airlines, Transavia, Vueling Airlines, Ryanair, SKY, JetSMART, Aegean Airlines, Azerbaijan Airlines, Rex Airlines, Azul, Royal Air Maroc, Porter Airlines, . Alaska Airlines, Hong Kong Airlines, Asiana Airlines, China Airlines, Korean Air Locations: Qatar, London’s, Abu Dhabi, Qatar’s, Tan Pee, Asia, Denpasar, Bali, AFP, India, Australia, Pacific, Eastern, China ., North America, Singapore, Air France, Saudi Arabian, Garuda Indonesia, Transavia France

☆ China-Philippine tensions: China may go beyond 'gray zone' tactics, analyst says
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina-Philippine tensions: China may go beyond 'gray zone' tactics, analyst saysRahman Yaacob, Southeast Asia program research fellow at the Lowy Institute, discusses the escalation of tensions between China and the Philippines over the Second Thomas Shoal in the South China Sea.

Persons: Rahman Yaacob, Thomas Shoal Organizations: China, Lowy Institute Locations: Philippine, China, Southeast Asia, Philippines, South China

☆ CNBC Daily Open: Dow posts best week since May, Tesla cuts 14% of workforce
▼ + stars: | 2024-06-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 6, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The tech-centric Nasdaq Composite remained flat, while the Dow Jones Industrial Average had its best week since May, rising 1.45%. Most Asia markets fallMost Asia-Pacific markets were trading lower as investors awaited inflation data from Australia and Japan later this week.

Persons: JPMorgan Chase, Goldman Sachs, Tesla, Elon Musk, Musk, Australia's, Kospi, Seng, Morgan Stanley's Andrew Slimmon Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Nasdaq, Dow Jones, Citigroup, JPMorgan, Bank of America, Apple Intelligence, Union, Nikkei, Bank of, CSI Locations: New York City, Asia, Pacific, Australia, Japan, Bank of Japan

☆ Jain Global, the most anticipated new hedge fund in years, is about to make its debut. An architect of the manager explains how it will be different.
▼ + stars: | 2024-06-24 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +12 min

The launch of Jain Global has dominated industry gossip since its founder left Millennium Management, where the 53-year-old Jain was Izzy Englander's right-hand man, in late 2022. And more specifically, scalability without incremental cost," Jonathan Barton, the firm's chief operating officer, said in an interview with BI. Starting from a clean sheet of paper gave Jain Global certain advantages, said one senior banker who worked closely with the new manager as it built out its teams and systems. 3Forge, a specialty-software provider, worked with Jain Global to build the interface that connects all the systems for PMs, the risk team, and management. In five to 10 years, Jain Global hopes it won't need a sprawling business-development function because a strong talent pipeline will have developed inside the firm.

Persons: —, Bobby Jain's, Jain, Izzy Englander's, It's, Morgan Stanley, Griffin's, Steve Cohen's Point72, Michael Gelband's, redemptions, Jonathan Barton, Barton, — Barton, it's, Bobby, Paul Enright, Sam Kellie, Smith, David Hochberg, Enright, Hochberg, there's, Jon Caplis, Caplis, they're Organizations: Service, Jain Global, Millennium Management, Business, UBS, Citadel, Bank of America, Meru Capital Group, Jain, Credit Suisse, Viking Global, Macquarie, Investors, Bloomberg Locations: Singapore, Balyasny, New York, Houston, London, Hong Kong, York, Lane, Meru, Asia, PivotalPath

☆ Vivian Maier: The mysterious New York nanny who helped shape 20th-century street photography
▼ + stars: | 2024-06-24 | by ( Helen Stoilas | ) edition.cnn.com time to read: +9 min

CNN —For much of her life, Vivian Maier was something of a mystery. A crying child, photographed by Vivian Maier in Grenoble, France, in 1959. Vivian Maier/Courtesy Fotografiska New YorkVisitors take in photographs on display at Fotografiska's “Vivian Maier Unseen Work” in New York. In 2011, Maloof published a book, “Vivian Maier: Street Photographer,” and with the filmmaker Charlie Siskel co-directed the 2013 documentary “Finding Vivian Maier,” which was nominated for an Academy Award. In a self-portrait featured in “Vivian Maier Unseen Work," the photographer lenses herself in profile, reflected in a hand mirror.

Persons: Vivian Maier, Maier, “ Vivian Maier, ”, Anne Morin, Leandro Justen, Morin, Robert Frank, Diane Arbus, ” Morin, “, Maier’s, Sophie Wright, Vivian, ” Wright, Dario Lasagni, John Maloof, Maloof, Charlie Siskel, Chicago’s, Carl, Maier hasn’t, Wright, Lane, Matthew Gensburg, York Maloof, Howard Greenberg, ‘ Organizations: CNN, New, Fotografiska, York Visitors, Kodak, Central, Flickr, Court, du Locations: New York, Chicago, York, Swedish, Grenoble, France, Central Park , New York, ” New York, America, California, Europe, Asia, ”, Chicago’s Cook, du Luxembourg, Paris

☆ German automakers worried about their future in China, analyst says
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGerman automakers worried about their future in China, analyst saysPhillippe Le Corre, senior fellow at the Asia Society Policy Institute, discusses what to expect from China-EU talks over electric vehicle tariffs.

Persons: Phillippe Le Corre Organizations: Asia Society Policy Institute Locations: China

☆ China is watching warily as Putin and Kim forge new ‘alliance’
▼ + stars: | 2024-06-23 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

Putin said Russia and North Korea have ramped up ties to a “new level.” Kim, meanwhile, called the new “alliance” a “watershed moment” in bilateral relations. In contrast, the reaction from China, the main political and economic patron for both Russia and North Korea, has been all but muted. “But they do know that China plays an irreplaceable role for both Russia and North Korea,” she said. China remains the largest trade partner to both Russia and North Korea, providing a crucial lifeline to the heavily sanctioned economies. “China doesn’t think that an alliance between Russia and North Korea would be a betrayal,” said Liu with the City University of Hong Kong.

Persons: Vladimir Putin glided, Kim Jong, Xi Jinping, Kim, Putin, ” Kim, Xi, Liu Dongshu, Liu, Kim Jong Un, ” Liu, Beijing doesn’t, Alexander Ryumin, ”, Edward Howell, Russia –, ” Yun Sun Organizations: Hong Kong CNN, Benz, China’s Foreign, City University of Hong, KCNA, North Korea Treaty, Cooperation, Mutual Assistance, Getty, –, University of Oxford, North, Stimson Locations: China, Hong Kong, Pyongyang, Beijing, North Korea, Russia, United States, Japan, South Korea, Ukraine, Northeast Asia, City University of Hong Kong, Soviet Union, Friendship, North, Korean, Russian, Iran, Moscow, United Kingdom, Washington

☆ Why Southeast Asia Is Crying Over This Movie
▼ + stars: | 2024-06-23 | by ( Sui-Lee Wee | ) www.nytimes.com time to read: +1 min

Daniel Nico Laudit says he does not cry easily. He decided to test his mettle this month in a movie theater in Manila, and documented the experience for his 4.5 million followers on TikTok. “I went straight to the restroom after the movie because I wanted to cry out loud,” Mr. Laudit, 24, a content creator, said in a telephone interview. Reactions like Mr. Laudit’s have made the movie, which was filmed in Bangkok mostly in the Thai language, a runaway hit across Southeast Asia. In Indonesia, it has drawn millions of viewers.

Persons: Daniel Nico Laudit, Grandma, “, Mr, Laudit, Laudit’s Locations: Manila, TikTok, Bangkok, Thai, Southeast Asia, Philippines, Singapore, Indonesia, Thailand

☆ Putin Came to Asia to Disrupt, and He Succeeded
▼ + stars: | 2024-06-22 | by ( Damien Cave | ) www.nytimes.com time to read: +1 min

Four days in Asia. That’s all President Vladimir V. Putin of Russia needed to anger Washington, undermine Beijing and rattle a collection of Indo-Pacific nations already scrambling to cope with a jumbled world order. After stops in Pyongyang and Hanoi this week that were draped in Communist red, Mr. Putin left behind a redrawn map of risk in Asia. North Korea sat at the center: a rogue nuclear state that regularly threatens its neighbors, suddenly empowered by Russian promises of sophisticated military aid and a mutual defense pact. Mr. Putin also signed at least a dozen deals with Vietnam — a country of growing importance for both China and the United States as they vie for influence — where he insisted that “reliable security architecture” could not be built with “closed military-political blocs.”The trip was both defiant and disruptive.

Persons: Vladimir V, Putin, Mr Locations: Asia, Russia, Washington, Beijing, Pyongyang, Hanoi, Asia . North Korea, Vietnam, China, United States

☆ How Chinese EV makers are slowly taking over the world
▼ + stars: | 2024-06-22 | by ( Tom Carter | ) www.businessinsider.com time to read: +14 min

Chinese carmakers accounted for 88% of the EV market in Brazil and 70% in Thailand in Q1, according to ABI Research figures. The EV markets in many of these countries are small now, but they're growing rapidly. This is because Chinese automakers are known for their ability to build electric cars for less than their foreign competitors. Australian Senator and shadow cyber-security minister James Paterson said earlier this year that Chinese EVs pose a growing cybersecurity risk. "India is still a little wary of the Chinese market," said Dylan Khoo, an analyst at ABI Research.

Persons: —, BYD, Joe Biden, Bill Russo, Susan Walsh Sam Fiorani, Luiz Inácio Lula da Silva, São Paulo, Luiz Inacio Lula da Silva, Marcel Martin, Katherine Tai, Elon Musk, SONNY TUMBELAKA, They're, Automobility, Tesla, John Keeble, James Paterson, Fiorani, Indranil Aditya, Dylan Khoo, Warren Buffett, Xpeng, William Li, HECTOR RETAMAL, America's, Russo, WuYuan Organizations: Service, Detroit, EV, Business, Research, Ford, Toyota, Volkswagen, EU, AP, AutoForecast Solutions, Brazilian Electric Vehicle Association, Great Wall Motors, Anadolu Agency, Getty, International Council, Clean Transportation, Chery, Total, China Passenger Car Association, Reuters, Honda, Mitsubishi, International Energy Agency, Federal, of Automotive Industries, SAIC, AutoForecast, BYD, SAIC Motors, India's, ABI Research, Union Locations: Camaçari, Brazilian, Bahia, Brazil, Mexico, Southeast Asia, Europe, Thailand, China, Shanghai, EU, São, Johannesburg, South Africa, Southeast Asia Southeast Asia, Malaysia, Vietnam, Indonesia, Indonesia's West Java, Philippines, Australia, Hangzhou, Queensland, India India, India, Europe Europe, Hungary, France, Spain, Portugal, South Korea

☆ Bangladesh floods: Nearly 2 million people stranded as devastating floods hit northeast
▼ + stars: | 2024-06-22 | by ( Helen Regan | ) edition.cnn.com time to read: +6 min

CNN —Extensive flooding has stranded about 1.8 million people in northeast Bangladesh, following weeks of heavy rains that have submerged homes and devastated farmland, according to state media and humanitarian agencies. There is concern for those trapped by floodwaters who now face food shortages and a lack of clean water, according to local media. A mother holds her son in front of her house in floodwater on June 20, 2024 in Sylhet, Bangladesh. Salahuddin Paulash/Drik/Getty ImagesDensely populated and low-lying Bangladesh is prone to seasonal rains, flooding and cyclones. People move their belongings through a flooded street in Sylhet, Bangladesh, on June 20, 2024.

Persons: Bangladesh Sangbad, Sunamganj, ” Sheldon Yett, Salahuddin Paulash, ”, Sultana Begum, ” Hasan Sarwar, Syed Mahamudur Rahman Organizations: CNN, Bangladesh, Bangladesh Sangbad Sangstha, Water Development, Villagers, United Nations, Children’s Fund, UNICEF, UNICEF Representative, World Bank, Remal, Bangladesh’s Ministry of Disaster Management, Bangladesh Water Development Locations: Bangladesh, Sylhet, India, floodwater, Asia, Myanmar, Cox’s Bazar, Assam

☆ Four self-made millionaires echo the same advice for success: Just get started
▼ + stars: | 2024-06-21 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +6 min

Throughout my time working at CNBC, I've chatted with different entrepreneurs, from people who started successful side hustles to the founders of global unicorn companies. In my conversations with successful entrepreneurs, I've found that those who became successful and "made it" tend to echo the same advice. Advice #2: Lean into what makes you uniqueAnother piece of advice Mahlum gave is to lean into what makes you yourself. "I think the best advice that I can give to fellow entrepreneurs is to be different," he told CNBC. Advice #4: Just get startedIn all my conversations with entrepreneurs, by far, the one piece of advice I've heard the most, is to simply get started.

Persons: Shawn Tsao, I've, Jason McGowan, McGowan, they'd, Anne Mahlum, Solidcore Anne Mahlum, Mahlum, Edward Tirtanata, Tirtanata, Uber, Jack Organizations: CNBC, I've, Lean, Nike Locations: New York, Solidcore, Indonesian, Southeast Asia

☆ South Korea said it might send weapons to Ukraine after Putin signed a security pact with its biggest enemy
▼ + stars: | 2024-06-21 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Read previewSouth Korea said it could send weapons to Ukraine after Russia signed a security pact with Seoul's biggest regional foe, North Korea. Putin became the first Russian leader to visit North Korea in a quarter of a century this week, cementing an alliance with the pariah state. Putin, on a trip to Vietnam Friday, warned South Korea against arming Ukraine in response, saying that it would be a "big mistake." Moscow "will... [make] decisions which are unlikely to please the current leadership of South Korea" if it goes ahead and sends weapons to Ukraine, Putin said, reported BBC News. But he also said that South Korea has "nothing to worry about" from the new pact as long as it doesn't commit acts of aggression toward North Korea.

Persons: —, Chang Ho, Kim Jong Un, Chang, Putin, Russia's, Cho Tae, yul, Antony Blinken Organizations: Service, Seoul's, Korean, North, Business, UN Security Council, UN, South, BBC Locations: Korea, Ukraine, Russia, North Korea, Pyongyang, Russian, East Asia, South Korea, Japan, Vietnam, Moscow

☆ Diversification is key right now: UBS Global Wealth Management
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiversification is key right now: UBS Global Wealth ManagementJin Yee Young, co-head of UBS Global Wealth Management APAC explains the shift into developed markets fixed income and the growth of private markets investment in Asia.

Persons: UBS Global Wealth Management Jin Yee Young, UBS Global Wealth Management APAC Organizations: UBS Global Wealth Management Locations: Asia

☆ Monetary policy alone cannot address China's 'growth headwinds' from its demographic crisis: Analyst
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMonetary policy alone cannot address China's 'growth headwinds' from its demographic crisis: AnalystDarren Tay, head of Asia country risk at BMI Country Risk & Industry Analysis, discusses falling birth rates in Asian countries like China and Japan.

Persons: Darren Tay Organizations: BMI, Risk Locations: Asia, China, Japan

☆ Move over, Tokyo. Hong Kong is now the most expensive city to build, survey shows
▼ + stars: | 2024-06-21 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Hong Kong has surpassed Tokyo as Asia's most expensive city to build property as rising construction prices add to a worsening labor crunch, a new market survey released by Turner & Townsend showed. The UK-based property consultancy projected that Hong Kong's average construction cost this year will rise 4.8% to $4,500 per square meter, ranking it ninth globally out of 91 cities surveyed. This has been especially true in Hong Kong, with the city's construction industry facing a manpower shortage as the city grapples with an aging population. According to the Hong Kong Construction Industry Council, this skilled labor gap is expected to reach as high as 40,000 people by 2027. Last year, the Hong Kong Census and Statistics Department projected that Hong Kong's aging population would get worse amid low fertility rates last year.

Persons: Townsend, Hong, Sumit Mukherjee Organizations: Turner, New, Hong Kong Construction Industry Council, Hong Kong Census, Statistics Department Locations: Hong Kong, Tokyo, U.S, Switzerland, New York City, San Francisco, Zurich, Asia

☆ Gold set for weekly gain on U.S. rate-cut optimism, geopolitical woes
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were poised for a second consecutive weekly gain on Friday, driven by safe-haven demand amid tensions in the Middle East and rising bets that the U.S. Federal Reserve might reduce interest rates later this year. Gold prices were poised for a second consecutive weekly gain on Friday, driven by safe-haven demand amid tensions in the Middle East and rising bets that the U.S. Federal Reserve might reduce interest rates later this year. Spot gold was up 0.1% at $2,360.95 per ounce as of 0344 GMT, after hitting a two-week high in the previous session. Lower interest rates reduce the opportunity cost of holding non-yielding bullion. Spot silver fell 0.4% to $30.60 per ounce, platinum was up 0.4% at $982.45 and palladium gained 0.8% to $930.98.

Persons: Bullion, Kelvin Wong, Wong, Luca Santos Organizations: U.S . Federal, Asia Pacific, Gaza, ACY Locations: Gaza, OANDA, U.S

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