March, 2018

• 4 March

  China to hold trade talks with US in Beijing as tensions rise

  

  Bloomberg China will host US officials for a new round of dialogue on trade issues, Vice Foreign Minister Zhang Yesui said at a briefing, as tensions rise between the world’s two largest economies. Zhang, who is also spokesman for the National People’s Congress, said that China doesn’t want a trade war but wouldn’t allow its interests to be harmed. He ...

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• 4 March

  SoftBank fund leads $535mn investment in DoorDash delivery app

  Bloomberg The latest winner of the SoftBank Group Corp. lottery is DoorDash Inc., a food-delivery app. SoftBank’s Vision Fund is leading a $535 million investment in the San Francisco-based company, almost triple the amount of capital the company had raised in the last five years. The deal, which includes funding from Sequoia Capital and Singapore’s GIC Pte sovereign-wealth fund, values ...

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• 4 March

  Singapore’s gaming firm reports mounting losses

  

  Bloomberg Sea Ltd., operator of Southeast Asia’s biggest gaming platform, reported mounting losses amid investments for growth and said Group President Nick Nash will leave his position at the end of the year. The Singapore-based company reported its net loss for the quarter ended in December more than tripled to $263.1 million, compared with analyst estimates that it would lose ...

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• 4 March

  BAIC chief sees swing to profit in ‘19 on Senova cars

  

  Bloomberg BAIC Motor Corp. will probably make a profit on sales of its own brands such as Senova cars next year after significantly reducing losses this year, Chairman Xu Heyi said in an interview Saturday on the sidelines of the Chinese People’s Political Consultative Conference in Beijing. Such a reversal of fortunes for the Beijing-based automaker’s money-losing Senova marque would ...

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• 4 March

  Hong Kong lifts veil on land sales, yet trails China, Singapore

  Bloomberg Hong Kong has partially lifted the veil on its opaque government land tendering process. But it still lags far behind Singapore and China in transparency. The government announced it would provide more information on the bidding process for land sales by providing data on all bids. Yet, it will provide data only after the winning bid transaction is completed, ...

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• 4 March

  Tencent CEO urges ID link for Hong Kong, Chinese citizens

  

  Bloomberg Tencent Holdings Ltd. Chairman Ma Huateng called on the Chinese government to introduce an ID system that would link multiple sets of travel documents with a mobile phone as part of a plan to boost regional trade between Hong Kong and Mainland China. China’s second-richest man said new technology systems and laws could let Hong Kong residents make electronic ...

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• 4 March

  Yen emerges as currency-market winner as trade tensions mount

  

  Bloomberg President Donald Trump is touting the virtues of a trade war. In the $5.1 trillion-a-day currency market, the yen has emerged as a clear winner from the escalating rhetoric. The latest move pushes forward the administration’s trade agenda, after it took similar actions on other goods this year and jawboned the dollar lower. The potential hit to US and ...

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• 4 March

  Quick dips, 1% days new normal in 2018 stocks

  

  Bloomberg If you don’t like the weather, wait a few minutes. That’s how it’s been in the 2018 stock market, where the S&P 500 just rebounded from a 1 percent intraday loss for a third time this year. The turnaround followed three consecutive days of 1 percent declines, a stretch not seen since the start of 2016. It’s not just ...

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• 4 March

  Gulf stock markets mixed

  Reuters Gulf stock markets were mixed at Sunday’s close, with Abu Dhabi and Dubai ending the day in a narrow range, while the Saudi stock market dropped 0.57 percent, amid weakness in energy and financial stocks. The Gulf market took little respite from a rise in oil prices and a rebound for Wall Street stocks on March 2 and following ...

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• 4 March

  American shale surge remains an intractable problem for OPEC

  

  Bloomberg In front of the Petroleum Club of Midland, Texas — capital of the booming Permian shale region — an electronic display flashes two crucial pieces of information: the oil price and the number of drilling rigs. For the past year, both figures have been climbing as OPEC oil production cuts led to higher prices, spurring added drilling activity in ...

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