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☆ SoftBank stock hits its first record high in 24 years — Arm and AI helped it get there
▼ + stars: | 2024-07-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +7 min

The rise of the internet and of Yahoo pushed SoftBank's stock to a peak closing price of 10,111.1 yen on Feb. 18, 2000. After lingering near then-record highs in March 2021, SoftBank's stock fell sharply, alongside other global tech stocks. "Softbank Vision Fund had to write down various investments due to a combination of equity values declining and a tougher private financing environment. Dan Baker, senior equity analyst at Morningstar, said a lot of SoftBank's price appreciation comes down to Arm. Baker said the SOTP valuation remains just under 50% this year, meaning SoftBank's stock does not truly reflect the value of its various businesses and investments.

Persons: Kosuke Okahara, Masayoshi Son, Softbank, SoftBank, Son, Oliver Matthew, Paul Golding, Golding, Dan Baker, I'm, Baker, " Baker, . Organizations: ARM, SoftBank, Bloomberg, Getty, Yahoo, Vision, Vision Fund, Beijing, CNBC, Macquarie U.S, Morningstar, Nikkei Locations: Tokyo, British, Japan, U.S, Alibaba

☆ China faces economic headwinds as it grapples with an aging — and shrinking — population
▼ + stars: | 2024-07-04 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +6 min

Fertility rates across OECD countries have halved since 1960, according to a new OECD report. He said the three countries are disproportionately impacted by a rapidly aging population, largely due to improved standards of living, which have a "very strong inverse relationship with fertility rates." These improved conditions have led to a greater opportunity cost for having children, Xu said. Shrinking workforceA decline in fertility rate puts pressure on the economy and the society at large as the working population shrinks. China's policy shiftsIn China, policymakers have been putting a big emphasis on "productivity growth," Xu told CNBC.

Persons: Leren Lu, Darren Tay, Erica Tay, Tianchen Xu, Xu, BMI's Tay, Tay, Maybank's Tay Organizations: OECD, BMI, Risk, United Nations, Economist Intelligence, Economic Co, National Bureau of Statistics, CNBC, Economist Intelligence Unit Locations: China, Asia, South Korea, Japan, East, Southeast Asia, Maybank

☆ Anant Ambani, Radhika Merchant wedding: Everything you need to know about India’s wedding of the year
▼ + stars: | 2024-07-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +11 min

Extravagant pre-wedding celebrations have already sent Indian media into a frenzy and social media feeds are abuzz over what’s to come. Anant Ambani and Radhika Merchant at their pre-wedding celebrations in Jamnagar, Gujarat, India on March 1, 2024. The Ambani pre-wedding celebrations had elaborate floral arrangements. Actor Ranveer Singh and his wife and actor Deepika Padukone pose for a photo during the pre-wedding celebrations earlier this year. Coordinating with Merchant, Ambani also wore a custom black suit designed by Wun, encrusted with jewels.

Persons: Anant Ambani, Radhika Merchant, Mark Zuckerberg, Bill Gates, partygoers, Katy Perry, Andrea Bocelli, Mukesh, Nita Ambani –, Reuters Ambani, Mukesh Ambani, Ambani, Anant, Viren Merchant, Nita, Manish Malhotra, ”, Merchant, “, Radhika, Mangal Utsav, Vishnu, Nita Ambani, Manish Malhotra Malhotra, Ranveer Singh, Deepika Padukone, Malhotra, Sabyasachi Mukherjee, Tarun Tahiliani, lehenga, Manish Malhotra Ambani’s, Rohit Bal, Lorraine Schwartz, Versace, Blake Lively, Robert Wun, ” Mareesha, Salman Khan, Ram Charan, Shah Rukh Khan, Aamir Khan, Narendra Modi, ” Parikh, Vanessa Almeida, Jamnagar Organizations: CNN, Backstreet Boys, Convention, Reliance Industries, Reuters, Bloomberg, Brown University, Reliance, pharma, Viren, Encore Healthcare, New York University, Vogue, sangeet, Sangeet, Merchant, All India Traders Locations: what’s, Jamnagar, Europe, Mumbai, Gujarat, India, Jamnagar ., Bharatnatyam, Agra, Uttar Pradesh, Hong Kong, Goa

☆ How Denisovans survived and thrived on ‘the roof of the world’
▼ + stars: | 2024-07-03 | by ( Katie Hunt | ) edition.cnn.com time to read: +8 min

“We know that the Denisovans lived, occupied the cave and this Tibetan plateau for such a long time, we really want to know, how did they live there? Analysis of bone fragments unearthed during excavations at Baishiya Karst Cave have revealed what animals Denisovans butchered, ate and processed. Traces of Denisovan DNA found in present-day people suggest the ancient species likely once lived across much of Asia. Many of the bones recovered from Baishiya Karst Cave, like this spotted hyena vertebra, contain traces of human activities such as cut marks. Unlike Denisova Cave, which was occupied by early modern humans and Neanderthals as well as Denisovans, current evidence suggests that Denisovans were the only group of humans to live at Baishiya Karst Cave, Zhang said.

Persons: CNN — Denisovans, Denisovans, ”, Dongju Zhang, Zhang, Denisovan, Frido Welker, Xia Li, Welker, Dongju, Samantha Brown, ” Brown Organizations: CNN, Lanzhou University, Globe, Paleoanthropology, University of Copenhagen, Mass, Junior, Palaeoproteomics, Germany’s University of Tübingen Locations: Xiahe, China’s Gansu, —, China, Lanzhou, Cave, Altai, Siberia, Asia, Laos, Southeast Asia, Ganjia, Australia

☆ A growing club led by Xi and Putin to counter the US is adding a staunchly pro-Russia member
▼ + stars: | 2024-07-02 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

After adding Belarus, it will boast 10 members, representing more than 40% of the world’s population and roughly a quarter of the global economy. Growing ambitionsAs the SCO grows in international visibility and economic weight, it has also broadened in geopolitical ambitions. Putin speaks to Xi at the SCO summit two years ago in Samarkand, Uzbekistan. But the Belarus membership also creates big question marks that will hang over the organization, Gill said. After the summit in Astana, China is due to take up the rotating presidency of the SCO for a year.

Persons: Xi Jinping, Vladimir Putin, Narendra Modi, Moscow’s, ”, “, Eva Seiwert, Seiwert, Putin, Xi, Sergei Bobylev, Bates Gill, Gill, –, ” Gill, Modi, they’re Organizations: Hong Kong CNN —, Shanghai Cooperation Organization, Indian, SCO, Union, Mercator Institute for China Studies, ”, Putin, AP, National Bureau of Asian Research, “, Central, Modi, Astana –, Kremlin, Central Asia, NATO, European Union, Seven Locations: Hong Kong, China, Russia, Russian, Ukraine, Belarus, Astana, Kazakhstan, Beijing, Moscow, United States, Iran, Kyrgyzstan, Tajikistan, Uzbekistan, India, Pakistan, Afghanistan, Mongolia, Myanmar, Turkey, Berlin, “, Eurasia, Samarkand, Central Asia, New Delhi, Soviet, Xi’an

☆ Gautam Adani wants to transform India’s biggest slum
▼ + stars: | 2024-06-29 | by ( Jessie Yeung | Noemi Cassanelli | ) edition.cnn.com time to read: +18 min

Noemi Cassanelli/CNNA man works at Shaikh’s workshop in Dharavi slum on April 14. “All slum redevelopment is quite fraught,” Kamath said. Noemi Cassanelli/CNNWomen chatting in Dharavi on April 14 Noemi Cassanelli/CNNA woman carrying fabric walks along a narrow alley in Dharavi on April 14. He is India’s largest airport operator and owns India’s biggest private port operator and private thermal power operator. The state and Adani deny any wrongdoing, but that hasn’t stopped many residents from viewing Adani and his government ties with suspicion.

Persons: Noemi Cassanelli, Masoom Ali Shaikh, ”, “, Gautam Adani, Jeff Bezos, ” Adani, ” Shaikh, ” Lofty, Dharavi, they’re, Lalitha Kamath, ” Kamath, aren’t, Dilip Gabekar, Narendra Modi, Adani, ’, Gabekar, Shaikh, They’re, Baburao Mane, Mane, CNN Neeta Jadhav, Neeta Jadhav, Jadhav, Dhanshuk Purshottamwala, He’s, Kamath, Prasant, hasn’t, Modi, ferociously, Reshma Prasant Organizations: CNN, India CNN, Adani, Tata Institute of Social Sciences, Reuters, Adani Enterprises, Bharatiya Janata Party, Private, Manohar Joshi, NDTV Locations: Mumbai, India, CNN Mumbai, Dharavi, Uttar Pradesh, Gujarat, Tamil Nadu, “, Adani, Maharashtra, It’s, India’s

☆ Japanese yen weakens to fresh 38-year lows; top currency diplomat replaced
▼ + stars: | 2024-06-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Sopa Images | Lightrocket | Getty ImagesThe Japanese yen weakened to fresh 38-year lows on Friday, crossing the 161 mark against the dollar for the first time since 1986 and reaching a high of 161.27, according to LSEG data. The yen has been steadily deprecating since the Bank of Japan ended its negative interest rate policy and scrapped its yield curve control policy in March. Following the move, the currency crossed the 150 mark against the dollar, reaching 160 in late April before the country's finance ministry intervened. Stock Chart Icon Stock chart iconJapan's finance ministry confirmed that it intervened between April 26 to May 29 to the tune of 9.7885 trillion yen ($62.25 billion). The benchmark U.S. federal funds rate stands at 5.25% to 5.5%, while the Bank of Japan's benchmark interest rate is at 0%-0.1%.

Persons: Dong Chen, Dong Organizations: Currency Museum, Bank of Japan's Institute for Monetary, Economic Studies, Bank of Japan, Japan Ministry of Finance, U.S, Bank Locations: Asia, Swiss, Japan

☆ Harburg: China will not save Apple
▼ + stars: | 2024-06-28 | 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 EmailHarburg: China will not save AppleBen Harburg, portfolio manager at CVA Funds and co-founder of MSA Capital, discusses Apple's prospects in China, as it rolls out the Vision Pro headset there and in other parts of Asia.

Persons: Apple Ben Harburg Organizations: Apple, MSA Capital Locations: Harburg, China, Asia

☆ Racist and Homophobic Comments Unsettle U.K. Election Campaign
▼ + stars: | 2024-06-28 | by ( Stephen Castle | ) www.nytimes.com time to read: +1 min

Last year, Prime Minister Rishi Sunak said in a speech that he was proud to be Britain’s first prime minister of Asian heritage, but “even prouder that it’s just not a big deal.”On Friday, Mr. Sunak said he was “hurt” and “angry” after a man campaigning on behalf of Reform U.K., an anti-immigration party, was recorded on video using a racist slur to describe him. The same man also called for migrants to be used as target practice. The comments appeared in an exposé by Channel 4 News, in which an undercover investigator secretly filmed Reform campaigners in Clacton, a seaside area north east of London. The party’s leader, the veteran political disrupter Nigel Farage, hopes to win his first parliamentary seat there. The investigation, broadcast on Thursday night, raised uncomfortable questions about Reform, which has shaken up the country’s general election campaign ever since Mr. Farage reversed an earlier decision not to stand for Parliament.

Persons: Rishi Sunak, Sunak, ”, Nigel Farage, Farage Organizations: U.K, Channel Locations: Clacton, London

☆ Opinion: The real loser in the first presidential debate
▼ + stars: | 2024-06-28 | by ( Opinion Cnn Contributors | ) edition.cnn.com time to read: +28 min

CNN —CNN Opinion asked political contributors to weigh in on the first presidential debate of the 2024 race. On the other hand, President Joe Biden did not meet expectations and may have increased concerns about his age and ability to lead for another four years. Debates are always more about style than substance, and President Joe Biden’s style was simply awful. Did President Joe Biden come off as a leader or a loser? And yes, the visuals in this first presidential debate of the cycle were phenomenally important.

Persons: Ana Marie Cox, Joe Biden’s, Donald Trump, Biden, Ana Marie Cox Faith Fonseca, Trump, mumbling, I’m, Shermichael Singleton, Joe Biden, Paul Begala, ” “, ” Paul Begala, meandered, —, Republicans — Biden, Bill Clinton’s, Clinton, Jeff Yang, Jeff Yang CNN, — Biden, Joe, Bruce, ”, “, ” Patrick T, Brown, Biden’s, Dobbs, Roe, Wade, Patrick T, CNN’s Dana Bash, David Mark, there’s, Kamala Harris, Harris, Nikki Haley, ” Geoff Duncan, Geoff Duncan Alex Slitz, Geoff Duncan, Peter Bergen, Abu Bakr al, General Qassem Soleimani, It’s, ” Susanne Ramirez de Arellano, Susanne Ramirez de Arellano Frank Moya, Biden “, ” Trump, Susanne Ramirez de Arellano, Roxanne Jones, Democrats — Biden, Nobody, Jones, Lanhee J, Chen, Chen Lanhee J . Chen, David, Diane Steffy, Romney, Ryan Organizations: CNN, Democratic Party, Biden, Trump, “, Global, Democrats, ” Paul Begala CNN, Republicans, Democratic, sonics, Public Policy Center, Economic, Republican, South Carolina Gov, Democratic National Convention, Washington, Peter Bergen CNN, US Border Patrol, ISIS, Islamic, Guards, Force, Walmart, New America, Capitol, New, Arizona State University, Social Security, Medicare, UCLA, Politics Initiative, America, Tonight, Univision Puerto Rico, ESPN, New York Daily News, Philadelphia Inquirer, Public Policy, Hoover Institution Locations: Texas, Austin, America, Asian America, Washington , DC, bravura State, Canada, Abu, Uzbek, Manhattan, El Paso , Texas, New America, United States

☆ Younger generations of Asians are spending big on art
▼ + stars: | 2024-06-28 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +4 min

Younger, wealthy shoppers in Asia are splashing their cash on art, according to a longtime collector and senior auction house executive. Chen Yongnuo | China News Service | Getty ImagesAnd, while the size of the global art market fell 4% last year to around $65 billion, according to the Art Basel & UBS Art Market Report 2024, sales in China rose by 9% in 2023, overtaking the U.K. as the world's second-largest art market. For Sotheby's, the rise in younger buyers is driven in part by an increase in online activity. "The definition of digital art nowadays has been expanded from simply photography to video art to NFTs to AI-generated art," she told CNBC's "Art of Appreciation." "With the younger generations becoming more and more prominent in the market ... digital artists ... will be the group of artists getting more attention," Siyang-Le added.

Persons: Nicolas Chow, Gen X, we've, X, Chow, CNBC's, Z, Gen, Yoshitomo Nara, Chen Yongnuo, Clare McAndrew, Angelle, Mak2, Li Zhihua Organizations: …, —, Art Basel, UBS Survey, China News Service, UBS Art, Arts Economics, Survey, Art, CNBC's, Getty Locations: Asia, Shanghai, millennials, Christie's Hong Kong, Sotheby's Hong Kong, China, Hong Kong, Art Basel Hong Kong

Those are just some of what fans of Disney cruises can expect on board the upcoming Disney Adventure, according to details announced Tuesday by Disney Cruise Line. Like other Disney cruises, Disney Adventure will have characters on board, entertainment based on Disney songs and viewings of its most popular movies. Other Disney cruisesDisney Adventure joins Disney Cruise Line's fleet of five ships, alongside two others — the Disney Treasure and Disney Destiny — that are on the way, according to the release. The AquaDuck water coaster aboard a Disney cruise ship — the Disney Dream — in Nassau, Bahamas. Matt Stroshane | Disney Cruise Line | Getty Images

Persons: Pixar's, Sarah Fox, Matt Stroshane Organizations: Disney, Disney Cruise, Marina Bay Cruise, Pixar, Marvel, Asia, Disney Adventure, Disney Treasure, Getty Locations: Asia, Singapore, Marina, Moana, Caribbean, Europe, Alaska, Mexico, Canada, Hawaii, Pacific, Australia, New Zealand, Nassau, Bahamas

☆ Asian shares shaky as investors wary before US inflation data
▼ + stars: | 2024-06-26 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Risk sentiment was also capped as hawkish comments from Federal Reserve officials kept near-term U.S. rate cut expectations in check in a boost to the dollar. The comments along with data showing a stable housing market kept expectations in check over when and by how much the Fed will cut rates. Markets are pricing in 47 basis points of easing this year, with a rate cut in September pegged at 66% probability, CME FedWatch tool showed. In the currency market, the dollar index , which measures the U.S. unit against six peers, was steady at 105.64, while the euro was at $1.0715. The yen touched a 34-year low of 160.245 per dollar on April 29, prompting Tokyo to spend roughly 9.8 trillion in late April and early May to support the currency.

Persons: Androniki, Lisa Cook, Cook, Michelle Bowman, Selena Ling, OCBC, OCBC's Ling, Shri Navaratnam Organizations: Nikkei, REUTERS, Federal Reserve, . Federal, Reuters, Bank of Japan's, Brent, U.S, West Texas, Thomson Locations: Tokyo, Japan, SINGAPORE, U.S, Asia, Pacific

☆ Opinion: Bosses are striking back at workers who use mouse jigglers
▼ + stars: | 2024-06-26 | by ( Opinion Jeff Yang | ) edition.cnn.com time to read: +6 min

Especially the last bit: Corporate America is obsessed with ensuring their employees are staying productive when they’re working remotely, away from the gimlet eyes of management. It’s easy to imagine the types of pretend productivity gadgets these employees might have used: “mouse jigglers,” gizmos with a questionable name that make random, small motions of a mouse or touchpad. And Wells Fargo’s crackdown on these gadgets is just the latest attempt by big business to rein in perceived slacking by remote employees. That perceptual gap reflects a vast and growing mutual distrust between workers and employers in America. They’re how workers are battling back against boardroom Big Brother, in a technological arms race that’s only getting wilder as devices get more sophisticated.

Persons: Jeff Yang, Bruce ”, “, Jeff Yang CNN, Wells, They’re, they’re, wilder, I’ve Organizations: CNN, Bloomberg, Business, Intuit, Microsoft Locations: Asian America, America, New York , Connecticut, Delaware

☆ 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

☆ Morgan Stanley picks global stocks to play a $50 billion AI boom. Analysts give two over 20% upside
▼ + stars: | 2024-06-21 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

The Wall Street bank estimates that another 1 gigawatts in potential power has been "underwritten as these data centers ramp up." "With $50 billion in committed AI/DC [data center] investments, we see upside to power gencos and grid operators in the region," Morgan Stanley's analysts wrote in a June 2 research note. Below are three stocks from Morgan Stanley's list that stand out for having significant upside potential, according to FactSet's consensus price targets. Analysts polled by FactSet give the stock a price target of 14.62 Malaysian ringgits, giving it around 6% potential upside. Keppel has an ADR in the U.S. and Singapore Telecommunications trades over the counter .

Persons: Morgan Stanley, Morgan, Morgan Stanley's, FactSet, Keppel, — CNBC's Michael Bloom Organizations: Morgan, Google, U.S, Global X FTSE, Asia, Malaysian, Singapore Telecommunications, Singapore Exchange Locations: Tenaga Nasional, Malaysia, Bursa Malaysia, Singapore, Keppel, U.S

☆ Interest rate differential is the biggest driver of Asian currency weakness: Deutsche Bank
▼ + 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 EmailInterest rate differential is the biggest driver of Asian currency weakness: Deutsche BankSameer Goel of Deutsche Bank says that "dollar exceptionalism" and interest rate differentials are behind the devaluation of Asian currencies.

Persons: Bank Sameer Goel Organizations: Bank, Deutsche Bank

☆ 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

☆ India wants to be a developed nation by 2047. Here are 4 critical areas Modi can't ignore
▼ + stars: | 2024-06-20 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +7 min

India has undergone a massive infrastructure push and has made significant strides in connecting and modernizing its highways, railways and airports. He's going to double down on that," said Samir Kapadia, CEO of India Index and managing principal at Vogel Group. "Along with creating physical infrastructure, India needs to remain steadfast on the structural reforms ... Increase foreign investmentsFrom veteran emerging markets investor Mark Mobius to global strategist David Roche, market experts remain bullish on India. Foreign direct investments into the country needs to however pick up pace to further drive economic growth and development, analysts told CNBC.

Persons: Vikram Singh, Narendra Modi, Modi, Reema Bhattacharya, Verisk, Modi's, he's, Samir Kapadia, Nirmala Sitharaman, Santanu Sengupta, Goldman Sachs, Sengupta, Richard Rossow, Kapadia, Sumedha Gupta, Vivek Prasad, Prasad, Mark Mobius, David Roche Organizations: Bharatiya Janata Party, BJP, Infrastructure, India Index, Vogel Group, Nurphoto, CNBC, Center for Strategic, International Studies, Padget Electronics, Dixon Technologies, Bloomberg, Getty, Research, India Electronics, Semiconductor Association, Economist Intelligence Unit, Centre, Monitoring, National Stock Exchange of, World Federation of Exchanges Locations: India, Asia, China, Mumbai, Noida, PwC India, National Stock Exchange of India

☆ SEB: Nvidia's impact on Asia stock market is 'evident'
▼ + stars: | 2024-06-19 | 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 EmailSEB: Nvidia's impact on Asia stock market is 'evident'Eugenia Victorino, head of Asia strategy at SEB, discusses the latest updates on Nvidia surpassing Microsoft and Apple as the world's most valuable company.

Persons: Eugenia Victorino, SEB Organizations: Microsoft, Apple Locations: Asia

☆ Putin-Kim summit likely to result in closer military ties, says CSIS expert
▼ + stars: | 2024-06-19 | 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 EmailPutin-Kim summit likely to result in closer military ties, says CSIS expertVictor Cha, senior vice president of Asia and Korea for the Center for Strategic and International Studies, discusses the implications of Russian President Vladimir Putin's meeting with North Korean leader Kim Jong Un.

Persons: Kim, Victor Cha, Vladimir Putin's, Kim Jong Un Organizations: Putin, Center for Strategic, International Studies, North Locations: Asia, Korea

☆ Currency market steadies ahead of U.S. inflation test, Fed decision
▼ + stars: | 2024-06-12 | by ( ) www.cnbc.com time to read: +3 min

Economists polled by Reuters expect headline consumer price inflation to ease to 0.1% from 0.3% last month, and core price inflation to remain steady on the month at 0.3%. Powell is likely to strike a relatively dovish tone at the press conference, however, given disappointing growth indicators since the last Fed meeting, Williams said. Japanese wholesale prices rose 2.4% in the year to May, Bank of Japan data showed on Wednesday, beating market forecasts for a 2% increase. The yen held steady at 157.16 per greenback after slipping to its lowest since June 3 at 157.40 the previous day. While Japan's central bank will likely discuss bond buying cuts to pre-empt yen selling pressure, dollar/volatility this week largely depend on Wednesday's U.S. CPI and Fed meeting, he added.

Persons: Jerome Powell's, Kieran Williams, Powell, Williams, Emmanuel Macron's, Sterling, Wei Liang Chang, bitcoin Organizations: U.S, Consumer, Fed, Reuters, Asia FX, InTouch, Bank of Japan, Bank of, DBS, CPI Locations: Czech, U.S, Asia, Bank of Japan

☆ From hiking to exploring arts and inspired cuisine, enrich your Hong Kong "bizcation" itinerary with these daytime activities between meetings
▼ + stars: | 2024-06-11 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

Hong Kong is known as a global center of trade and finance, but the city has much more to offer. Here are some must-do daytime experiences to check out between meetings and conferences, transforming your time in Hong Kong from "work trip" to an enriching "bizcation." Sample daytime bizcation itinerary Grab a plastic stool at Shui Kee Coffee to try some of the city's best French toast and Hong Kong milk tea. Find inspiration in Hong Kong's colorful art sceneThere are dozens of museums sprinkled around Hong Kong, but M+ is arguably its most impressive. Hong Kong Tourism BoardIf you're looking for a quiet escape, hop on a ferry to Cheung Chau, a much-loved getaway for Hong Kongers.

Persons: Shui Kee Coffee, Qing, it's, It's, Yau Ma, HKwalls, Ling Lane, Chan Lane, Chung, you've, Wong Tai, Nan Lian Garden, Tai, Hing, Get, Cheung Chau, Hong Kongers, Yang Organizations: Shui, Kowloon Cultural, Hong, Hong Kong Palace Museum, . Hong Kong Tourism Board, Art, Hollywood, Lin, Hong Kong Tourism Board, Hing Kee, Michelin, Rosewood Hong, Insider Studios Locations: Hong Kong, Shui Kee, Kowloon, Victoria Harbour, Hong Kong Palace, Jordan, . Hong Kong, Sai Ying, Wong Tai Sin, Mo, Sheung Wan, Tai Sin, Hing Kee Shanghai, Cheung

☆ A memorable bizcation requires a unique blend of work and play. Hong Kong is the perfect destination to make it happen.
▼ + stars: | 2024-06-11 | by ( Sponsor Post | ) www.businessinsider.com time to read: +6 min

When the sun sets in Hong Kong, the sprawling urban metropolis transitions from work to play. Arguably the world's best "bizcation" destination, Hong Kong offers endless activities once business travelers close their laptops for the day. Hong Kong Tourism BoardTo add a bit of mystery into your bizcation, consider exploring Hong Kong's speakeasies. Hong Kong Tourism BoardBut that's not the only attraction lighting up Hong Kong. A memorable bizcation requires a unique blend of work and play — and Hong Kong is the perfect destination to make it happen.

Persons: Hong, Chef Danny Yip, Vicky Cheng, it's, Chai, Noodle, speakeasies, that's, Luna Organizations: Network, Hong Kong's, Argo, Hong Kong Tourism Board, former Marine Police Headquarters, Hong Kong Tourism Board Hong, Insider Studios Locations: Hong Kong, there's, Hong, Wing, Victoria, Clearwater Bay, Tai Hang

☆ Singapore is set to lead the gold market as 'center of gravity' shifts east, World Gold Council says
▼ + stars: | 2024-06-11 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: 1 min

SINGAPORE — Singapore is set to become a leading gold hub as trading shifts east, according to the World Gold Council. Singapore's proximity to these central banks, which are actively snapping up gold, is another factor, he added. "The center of gravity of the gold market has shifted east, with Singapore, fortuitously placed as the potential fulcrum of this new balance," Fan said at the Asia Pacific Precious Metals Conference held in Singapore. China is the world's largest gold consumer, and its central bank is the largest buyer of bullion as the country seeks to boost its gold reserves. Among central banks, the People's Bank of China was the largest buyer of gold in 2023.

Persons: Shaokai Fan, fortuitously, Fan Organizations: World Gold, Asia, Precious Metals Conference, People's Bank of Locations: SINGAPORE — Singapore, Asia, Pacific, Singapore, Singapore . China, People's Bank of China

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