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 …
Ex-Stripe executive wants to stay in power on huge growth Read More »
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 …
Tech layoffs in Southeast Asia rise as unprofitable startups expand leads Read More »
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 …
China Covid protests drag global stocks lower as strategists see continued disruption Read More »
A man walks past the People’s Bank of China (PBOC) building on July 20, 2022 in Beijing, China. Jiang Qiming | China Information Service | Getty Images China announced on Friday it would reduce the amount of cash banks must hold as reserves for the second time this year, freeing up about 500 billion yuan …
China frees up $70 billion for banks to support slowing economy Read More »
Bill Ackman Says Hong Kong Dollar Peg Will Break Billionaire hedge fund manager Bill Ackman has questioned the sustainability of the hong kong dollarpegs the greenback, adding that his company Pershing Square has a significant short position in the currency. “We have a large notional short position against the Hong Kong dollar thanks to the …
Crude oil storage tanks at the Juaymah tank farm at Saudi Aramco’s Ras Tanura Oil Refinery and Oil Terminal in Saudi Arabia in 2018. Simon Dawson | Bloomberg | Getty Images Goldman Sachs lowered its oil price forecast by $10 to $100 a barrel for the fourth quarter of 2022, citing growing Covid concerns in …
Goldman Sachs lowers oil forecast to $100 a barrel Read More »
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 …
Asia-Pacific markets are trading lower; China keeps LPR stable Read More »
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 …
Meituan, Tencent, APEC leaders meet, trade in Japan, unemployment in Australia Read More »
The impact of the metaverse on GDP in Asia could be between $0.8 and $1.4 trillion per year by 2035, according to a new report from Deloitte. Weiquan Lin | time | Getty Images MetaThe huge bet on the metaverse may have put the company in dire straits, but a new report from Deloitte suggests …
Metaverse could inject $1.4 trillion a year into Asian GDP: Deloitte Read More »
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 …
The G-20 summit begins on Tuesday. Here’s what to expect. Read More »
