Asia

Following the passage of a new cybersecurity law and the removal of term limits from Chinese president Xi Jinping, China’s government is conducting a comprehensive crackdown on online discussions and content, with few companies spared the rod by the central government. Among the casualties has been Bytedance, the extremely high-flying $20 billion media unicorn startup
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Ant Financial, the Alibaba affiliate that looks after the firm’s hugely popular Alipay service, is reportedly gearing up for an enormous funding round that could take its valuation to $100-$150 billion. The Wall Street Journal reported that Ant is in talks to raise upwards of $9 billion at the $100 billion mark, while Bloomberg suggested
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While the recent Cambridge Analytica data privacy scandal is the main focus for American lawmakers questioning Facebook’s Mark Zuckerberg today, the company’s record beyond the U.S. raises even more alarms. During the hearing, Vermont Senator Patrick Leahy brought up the company’s role in the ongoing ethnic violence in Myanmar, citing one incident where death threats
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Today marks the start of Facebook CEO Mark Zuckerberg’s much-anticipated trip to Washington as he attends a hearing with the Senate, before moving on to a Congressional hearing tomorrow. Away from the U.S. political capital, Zuckerberg is engaged in serious discussions about Myanmar with a group of six civil society organizations in the country who
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AI research is increasingly being used by militaries around the world for offensive and defensive applications. This past week, groups of AI researchers began to fight back against two separate programs located halfway around the world from each other, generating tough questions about just how much engineers can affect the future uses of these technologies.
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War! The Trump administration announced late last night its next daring attack on China’s unfair trade practices, and it has gone straight for the jugular, announcing that it is putting tariffs on about 1330 goods including “Parts for air conditioning machines” and “Bakery ovens, including biscuit ovens.” Including biscuit ovens! Without the heat emanating from
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Amid plenty of speculation, China’s ride-hailing leader Didi Chuxing has officially entered the food delivery space. The company, which acquired Uber’s China-based business in 2016, confirmed today it is running a pilot food delivery service in Wuxi, a city in southern Jiangsu province, with a view to expanding further. The service began on April 1, and Didi
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Singapore’s competition agency last week opened an investigation into Grab’s acquisition of Uber’s Southeast Asia, and now authorities in the Philippines and Malaysia are following suit by looking closely at the deal. From The Philippines Competition Commission: The Grab-Uber acquisition is likely to have a far reaching impact on the riding public and the transportation
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Singapore has fined two Airbnb hosts who broke the country’s rules on apartment rentals. In a first for the country, two men were fined SG$60,000 (US$45,800) each for unauthorized lettings at four apartments using the U.S.-based rental platform, Reuters reports. Singapore’s law prevents public housing rentals that are under six months — or three months in
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