Asia Economy

Ex-Stripe executive wants to stay in power on huge growth

Ex-Stripe executive wants to stay in power on huge growth

Vidit Agrawal of GajiGesa wanted to enable workers to access their pay as they earn it, between traditional month-end pay cycles. This gives workers a lot more cash and protects them from predatory lenders. GajiGesa Vidit Agrawal, co-founder of Indonesian startup GajiGesa, knows that crazy growth is nice. But endurance is better. “Everyone talks about …

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Tech layoffs in Southeast Asia rise as unprofitable startups expand leads

Tech layoffs in Southeast Asia rise as unprofitable startups expand leads

Shopee has reportedly made three rounds of layoffs this year as its parent company, Sea Limited, struggles for profitability. Lauryn Ishak | Bloomberg | Getty Images More tech startups in Southeast Asia have laid off workers this year as macro headwinds deepened losses and venture capitalists pushed startups to expand their leads. Last week, online …

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China Covid protests drag global stocks lower as strategists see continued disruption

China Covid protests drag global stocks lower as strategists see continued disruption

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., Wednesday, November 9, 2022. Michael Nagle | Bloomberg | Getty Images Global stocks fell on Monday after rare protests erupted across China over the weekend amid growing unrest over the country’s zero-Covid policy. An apparent easing earlier this month …

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Asia-Pacific markets are trading lower;  China keeps LPR stable

Asia-Pacific markets are trading lower; China keeps LPR stable

Oil prices fall as China faces Covid concerns, Goldman Sachs cuts forecast Oil prices fell nearly a dollar as China’s Covid concerns grew, with the country seeing the first virus-related deaths recorded since May this year. Brent futures lost less than a dollar, or 0.9%, to settle at $86.83 a barrel and United States West …

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Meituan, Tencent, APEC leaders meet, trade in Japan, unemployment in Australia

Meituan, Tencent, APEC leaders meet, trade in Japan, unemployment in Australia

NetEase plunges after Blizzard announces suspension of gaming services in China Hong Kong listed shares of NetEase plunged 13% after Blizzard Entertainment, a subunit of ActivisionBlizzardsaid it would suspend gaming services in China, citing the expiration of licensing agreements with NetEase. “We are extremely grateful for the passion our Chinese community has shown throughout the …

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The G-20 summit begins on Tuesday.  Here's what to expect.

The G-20 summit begins on Tuesday. Here’s what to expect.

Indonesian Finance Minister Sri Mulyani (front C) attends the G20 finance ministers meeting in Nusa Dua on the Indonesian resort island of Bali July 16, 2022. SONNY TUMBELAKA | SWIMMING POOL | AFP via Getty Images World leaders kick off a meeting on the vacation island of Bali, Indonesia on Tuesday as the global economy …

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