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☆ IBM CEO says AI will impact white-collar jobs first, but could help workers instead of displacing them
▼ + stars: | 2023-08-22 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

watch nowWhite-collar jobs will be among the first to be impacted by artificial intelligence, IBM chairman and CEO Arvind Krishna told CNBC in an exclusive interview aired on Tuesday. Arvind Krishna IBM chairman and CEOIn May, IBM announced WatsonX, an AI building tool that allows clients to build, train and deploy machine learning models. So that is where the 7,800 [number] came from," Krishna told CNBC's Martin Soong. AI potentialKrishna joined IBM in 1990, took over as CEO in April 2020 and has been chairman since January 2021. Arvind Krishna IBM chairman and CEO

Persons: Arvind Krishna, CNBC's, That's, Krishna, ChatGPT, Watson, It's, CNBC's Martin Soong, Lawrence Wong Organizations: IBM, CNBC, Lenovo, Watson Health, Bloomberg

☆ Malaysia PM vows to recover Goldman Sachs 1MDB settlement, warns of possible lawsuits
▼ + stars: | 2023-08-21 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

Nurphoto | Nurphoto | Getty ImagesMalaysia's Prime Minister Anwar Ibrahim has vowed to recover the money Malaysians are owed from the 1MDB money laundering scandal, and says he hasn't ruled out the possibility of a lawsuit against Goldman Sachs. Anwar said Malaysian agencies were still in talks with Goldman Sachs, though ongoing discussions are "a bit complex." Asked to comment on Anwar's interview, Goldman Sachs referred CNBC to its second quarter earnings statement. It remains to be seen what would come out of the standoff between Malaysia and Goldman Sachs. "No one can deny the fact that Goldman Sachs was used, and partly used the authorities," Anwar said in his interview.

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☆ Malaysia is not discounting the possibility of lawsuits against Goldman Sachs, says Anwar Ibrahim
▼ + stars: | 2023-08-21 | 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 EmailMalaysia is not discounting the possibility of lawsuits against Goldman Sachs, says Anwar IbrahimAnwar Ibrahim, Malaysia's prime minister, tells CNBC's Martin Soong as part of The CNBC Conversation, that his country will have to reopen negotiations with Goldman Sachs on the 1MDB money laundering scandal. He said he's "not discounting the possibility of proceeding again [with] the issue [of] lawsuits."

Persons: Goldman Sachs, Anwar Ibrahim Anwar Ibrahim, Malaysia's, CNBC's Martin Soong Organizations: Malaysia, CNBC

☆ Malaysia and Indonesia should be able to complement each other, says Malaysia's Anwar Ibrahim
▼ + stars: | 2023-08-21 | 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 EmailMalaysia and Indonesia should be able to complement each other, says Malaysia's Anwar IbrahimAnwar Ibrahim, the prime minister of Malaysia, tells CNBC's Martin Soong as part of The CNBC Conversation, that his country and Indonesia should work together to complement each other — he said that has been the "spirit" of his conversations with Indonesia's President Joko Widodo, known commonly as Jokowi.

Persons: Malaysia's Anwar Ibrahim Anwar Ibrahim, CNBC's Martin Soong, Joko Widodo Organizations: Email Malaysia, CNBC Locations: Indonesia, Malaysia

☆ Malaysia PM Anwar Ibrahim on affirmative action, Tesla and Elon Musk
▼ + stars: | 2023-08-21 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIssue of affirmative action should extend from race based to need based: Malays PM Anwar IbrahimMalaysia's Prime Minister Anwar Ibrahim speaks to CNBC's Martin Soong about affirmative action policies and how Elon Musk's SpaceX will give "confidence and participation of our players" in Malaysia.

Persons: Anwar Ibrahim Malaysia's, Anwar Ibrahim, CNBC's Martin Soong, Elon Organizations: SpaceX Locations: Malaysia

☆ Japan’s largest brewer sets its sights on China — again
▼ + stars: | 2023-05-31 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

Japan's Asahi Group Holdings has plans to dive back into the China market as it looks to revive investments in the world's largest beer market. The company divested from China years ago due to the lack of "premiumized products" and "very low" prices at that time, Katsuki said. In 2017, Asahi announced it would sell its nearly 20% stake in China's Tsingtao Brewery to Fosun Group and its subsidiaries. "But with the entry of the international brands and also craft beer, the premium segment in China is now really taking off and growing substantially." "Asahi Super Dry has the largest sales already from the China market now and it's growing double digits every year, so we want to continue to really invest into this premium market," he added.

Persons: We've, Atsushi Katsuki, CNBC's Martin Soong, we're, Katsuki Organizations: Japan's Asahi Group Holdings, Asahi, Fosun Group Locations: China, Tsingtao

☆ Europe's energy market faces 3 key challenges this year, the IEA's chief says
▼ + stars: | 2023-05-21 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +4 min

Birol warned that the region's energy market still has three main hurdles to overcome this year, however. China's exit from its zero-Covid policy in December has caused energy demand to increase, with the IEA forecasting that global oil demand will increase by more than 2 million barrels per day this year. Birol said a U.S. debt default would cause oil demand and prices to drop, but agreed that such a scenario was unlikely. And I don't see a major risk for the global oil markets. But of course, oil markets are always involved with risks."

☆ Europe may have averted an energy crisis for now but is 'not out of the woods,' says IEA chief
▼ + stars: | 2023-05-21 | 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 EmailEurope may have averted an energy crisis for now but is 'not out of the woods,' says IEA chiefFatih Birol, Executive Director of the International Energy Agency, speaks to CNBC's Martin Soong on the sidelines of the G-7 leaders' summit in Hiroshima, Japan. He says 60% of the increase in oil demand is expected to come from China, and outlines the energy risks that Europe faces.

☆ There's increasing recognition that multilateral trade system has been 'largely resilient,' says WTO
▼ + stars: | 2023-05-21 | 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 EmailThere's increasing recognition that multilateral trade system has been 'largely resilient,' says WTONgozi Okonjo-Iweala, Director-General of the World Trade Organization, tells CNBC's Martin Soong: "We were beginning to take multilateralism and the multilateral trading system for granted." Speaking on the sidelines of the G-7 leaders' summit in Hiroshima, Japan, she said although disruptions in supply chains still need to be dealt with, trade has been a "source of resilience" in past crises.

☆ WTO chief pushes for reglobalized supply chains to cut down bottleneck risks
▼ + stars: | 2023-05-21 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

World Trade Organization Director-General Ngozi Okonjo-Iweala urged diversification in global supply chains, amid ongoing efforts to progress the body's reform. "I agree that we need to build resilience, that the world cannot be reliant on a few countries for a few key products." The WTO's chief pitched the dual benefits of pursuing diversification in developing countries to simultaneously boost their economic growth and meet global supply requirements. One is we build global resilience beyond just our neighbors and our friends, because you never know who is your friend. The emphasis on "reglobalization" comes as geopolitical tensions and recent U.S. legislation have stoked worries over the potential fragmentation of global trade.

☆ Debt in advanced economies is piling on to global challenges, says World Bank president
▼ + stars: | 2023-05-12 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Developed economies across the world are facing a debt problem, and that's piling onto other headaches in the global economy as central banks continue to grapple with persistent inflation, according to World Bank President David Malpass. Speaking to CNBC's Martin Soong at the G-7 finance ministers and central bank governors' meeting in Japan, Malpass emphasized that record-high global debt levels need to be addressed for stability. "The debt-to-GDP ratios for the advanced economies are higher than ever before," he said, adding that developing countries are also facing a similar issue. The World Bank has emphasized the need for transparency in addressing rising debt in the face of a number of global economic issues, including stress in the banking sector and sticky inflation. The organization last month chaired the Global Sovereign Debt Roundtable in Washington D.C. and highlighted its call for information sharing to speed up the process of debt restructuring in the world.

☆ German minister calls for maturity on U.S. debt ceiling talks: 'We have to avoid further risks'
▼ + stars: | 2023-05-11 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

German Finance Minister Christian Lindner hopes American lawmakers will be "mature" over the debt ceiling negotiations to avoid further headwinds for the global economy. U.S. Congress is trying to find a compromise on the debt limit — which refers to the maximum amount of money that the two chambers allow the federal government to borrow. Democratic leaders want the limit to be raised but Republican lawmakers have called for spending cuts to be agreed before anything is approved. Time is running out for an agreement, with U.S. Treasury Secretary Janet Yellen warning earlier this month that without a deal, the largest economy in the world could default by June 1. "I cannot comment on domestic politics in other countries, but I hope everyone is mature in this situation and avoids further risks for the global economic development," he told CNBC's Martin Soong.

Persons: Christian Lindner, Janet Yellen, CNBC's Martin Soong Organizations: Congress, Democratic, U.S, Treasury Locations: Japan

☆ What to expect from Asia open as investors digest growing banking fears in the U.S. & Europe
▼ + stars: | 2023-03-15 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat to expect from Asia open as investors digest growing banking fears in the U.S. & EuropeCNBC's Martin Soong on what to expect from the Asian market open. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Steve Grasso and Guy Adami.

☆ There are still opportunities in VC firms despite a drop in funding, says 500 Global
▼ + stars: | 2023-02-27 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Global venture capital firm 500 Global is bullish on the VC sector, even as venture funding took a hit in 2022 as economic uncertainties loomed. According to data compiled by Crunchbase, global venture funding in 2022 totaled $445 billion — lower by 35% compared to the previous year. "But I wouldn't go so far as to say that there is a funding winter," Harnal told CNBC's Martin Soong and Sri Jegarajah. Some of the startups they invested in during their early stages include Australian graphic design software Canva, Southeast Asia's ride-hailing firm Grab and Indonesian fish farming tech startup eFishery. Startups are mostly unprofitable, as they prioritize growth over profitability in the initial years, which usually translates into burning cash.

☆ Singapore must prepare for economic and geopolitical headwinds, says Lawrence Wong
▼ + stars: | 2023-02-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Escalating conflict from the Russia-Ukraine war and the slowing global economy are some downside risks that Singapore must be prepared for, Deputy Prime Minister Lawrence Wong told CNBC in an exclusive interview Wednesday. "There are a few [risks]," Wong told CNBC's Martin Soong. "The strength of the global economy, particularly the U.S. economy, that's one. Lawrence Wong Singapore deputy prime ministerSingapore already has strong fundamentals and branding, and is "highly regarded for honesty, integrity with loyalty," Wong said. On escalating tensions between the U.S. and China, Wong said Singapore "watched with great concern."

☆ Singapore faces a 'delicate balancing act' amid weak economy and inflation, says deputy PM
▼ + stars: | 2023-02-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

watch nowSINGAPORE — Setting Singapore's budget was challenging this year, as it required a "very delicate balancing act" to ensure fiscal prudence while helping Singaporeans deal with rising costs, Finance Minister Lawrence Wong told CNBC in an exclusive interview. "It's particularly challenging this year, because it really was a very delicate balancing act to manage due to the different competing demands and pressures," Lawrence Wong, who is also deputy prime minister, said Wednesday, a day after announcing Singapore's budget to Parliament. But yet, we can't taper down too quickly, because the economy is still weak," Wong told CNBC's Martin Soong on "Squawk Box Asia." Our economy has recovered back to pre-Covid levels, but our fiscal position is still quite weak, and it is still very tight. Lawrence Wong Singapore foreign ministerSingapore expects a slight deficit of $2 billion Singapore dollars ($1.5 billion), or 0.3% of GDP, for fiscal year 2022.

☆ IMF chief says war in Ukraine is the ‘single most important negative factor’ for global economy
▼ + stars: | 2022-11-17 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +2 min

watch nowThe war in Ukraine is the "single most important negative factor" for the world economy this year — and most likely for 2023 as well, IMF chief Kristalina Georgieva told CNBC Wednesday. "We judge the war in Ukraine to be the single most important negative factor for the world economy this year, most likely also next year," she told CNBC's Martin Soong on the sidelines of the Group of 20 meeting in Bali, Indonesia. International Monetary Fund Managing Director Kristalina Georgieva attends a session during the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 16, 2022. Russia bears ultimate responsibility as it continues its illegal war against Ukraine," Jens Stoltenberg said. 'High price to pay' for fragmentationThe IMF previously issued warnings on the fragmentation of the global economy as a result of the Russia-Ukraine war, and cut 2023 growth forecasts to 2.7% — predicting a slowdown from an expected 3.2% in 2022.

☆ Taiwan remains a 'hot button issue' between the U.S. and China
▼ + stars: | 2022-11-15 | by ( Martin Soong | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTaiwan remains a 'hot button issue' between the U.S. and ChinaChinese President Xi Jinping met U.S. President Joe Biden on Monday ahead of the Group of 20 meeting in Bali. Taiwan is China's biggest red line that must not be crossed, Xi told Biden. CNBC's Martin Soong reports.

☆ The G-20 summit kicks off Tuesday. Here's what to expect.
▼ + stars: | 2022-11-14 | by ( Jihye Lee | ) www.cnbc.com time to read: +5 min

Indonesian Finance Minister Sri Mulyani (C front) attends the G20 Finance Ministers Meeting in Nusa Dua, on Indonesia's resort island of Bali, on July 16, 2022. Nineteen countries and one economic region, the European Union, will attend this year's two-day G-20 meeting. This year's in-person attendee list has been in the spotlight as Russian President Vladimir Putin continues his unprovoked war in Ukraine. U.S. President Joe Biden is also scheduled to hold a bilateral meeting with his Chinese counterpart Xi Jinping ahead of the G-20. He highlighted China's stance on the war in Ukraine as one of many signs of eroding relations between the U.S. and China.

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