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  • Uganda denies minister was bribed by former Hong Kong home affairs secretary Patrick Ho

    HONG KONG, 2017/11/29 US Department of Justice claims Ho considered setting up yuan exchange centre in Uganda with the family of foreign minister Sam Kutesa. Uganda on Friday rejected US accusations that its foreign minister curried favour with a Chinese energy firm in return for US$500,000 in bribes from Patrick Ho Chi-ping, Hong Kong’s former home affairs secretary presently under arrest in the US on corruption charges. According to the Department of Justice in the United States, Ho was contemplating last year setting up Africa’s initial yuan exchange centre in Uganda by collaborating with the family of foreign minister Sam Kutesa.
  • Vietnam prosecutes bank officials in corruption crackdown

    VIETNAM, 2017/11/25 Vietnam has prosecuted five former officials of the unlisted Dong A Bank for violating rules that “lead to critical consequences”, police said on Friday, part of a widening investigation involving the Ho Chi Minh City-based lender.
  • Eyeing jet deal, Saab offers full tech transfer to India

    INDIA, 2017/11/22 Swedish defence giant Saab Group said today it would ensure "full" technology transfer of its Gripen-E fighter jet to India if the company gets the arrangement to supply a fleet of the single engine combat aircraft to Indian Air Force. The company as well said it will build the world's most modern aerospace facility in India, besides creating a local supplier base of ancillary systems, if it wins the arrangement for which US defence major Lockheed Martin has emerged as a major contender.
  • Chinese official expresses concern over political unrest in Pakistan

    CHINA, 2017/11/22 A top Chinese official has expressed concern over the prevailing political instability in Pakistan that could negatively impact the pace of the projects started under the ambitious USD 50 billion CPECBSE -4.45 % initiative, according to a media statement today. The Chinese delegation expressed weariness during the Joint Cooperation Committee (JCC) of the China-Pakistan Economic Corridor (CPEC) conference held here yesterday.
  • Samsung Electronics to set up AI research centre

    SOUTH KOREA, 2017/11/22 Samsung Electronics Co Ltd said on Wednesday it would create an artificial intelligence (AI) research centre and strengthen an executive role to look for new business areas for all its three major business groups. The minor changes to the tech giant's business structure were to "quickly respond to market changes," Samsung Electronics said in a statement. The move follows last month's appointment of a new generation of top managers that dispelled lingering worries about a leadership vacuum from the detention of Vice Chairman Jay Y. Lee.
  • U.S. Israel-India Business Forum: Dialogue of Equals

    INDIA, 2017/11/22 Not five months have passed since India's Prime Minister Narendra Modi's visit to Israel. But that trip appears to not only have pumped new lifeblood into the flagging flow of trade and data between the two nations but as well in their nationals elsewhere in the world. Though there cannot be a comparison between India and Israel in terms of size and people. There is immense scope in terms of working together as India is emerging as an economic powerhouse with a large market and on the other hand Israel has reckoned for its technological advancements, innovation and startup ecosystem.
  • World’s eyes on Asian summits

    PHILIPPINES, 2017/11/15
  • Should developing countries fear the impact of automation on jobs?

    WORLD, 2017/11/15 Fears of technology-induced unemployment have penetrated media headlines and policy discourse in both advanced and developing countries.
  • Junta reforms doing nothing to assuage Thai investment flight

    THAILAND, 2017/11/15 The Thai junta is unhappy with Thailand’s current economic paradigm and is attempting to shift the fundamental base of the country’s economy. Various branches of the Thai national are attempting to create what is vaguely referred to as ‘Thailand 4.0’ by the government, the ‘next increase phase’ by the Ministry of Finance and the ’20 Year Strategy’ or the ‘6–6–4 plan’ by the Ministry of Commerce. Ten industries are being targeted to shift Thailand up from a middle-gain country that produces other country’s ideas, to a fully developed country based on innovation and indigenous creativity by 2036. To achieve this, Thailand’s Investment Promotion Act has been ‘reinterpreted’ into the Seven-Year Investment Promotion Strategy. Rather than offer broad incentives, the new approach is an attempt to ‘level up’ the economy into specifically selected sectors that are high-tech, high price-added and high creativity.
  • The Belt and Road Initiative and Asia’s changing order

    CHINA, 2017/11/15 In the two days of meetings from 8 November between President Donald Trump and President Xi Jinping in Beijing on Trump’s initial national visit, it appears that they did not talk at all about the Belt and Road Initiative (BRI). Trump’s tour reflected the tendency of his government to see Asia entirely through the lens of bilateral ties and crises. US Secretary of National Rex Tillerson and Trump have stated that the United States seeks to sustain and protect a free and open Indo-Pacific, but the inability to match that concept with either a meaningful strategic vision or substantive policy was plainly on display.