Bloomberg

Uber said to have reached in-principle agreement to sell Southeast Asia business to Grab
SINGAPORE (Mar 13): The battle between ride-hailing giants Grab and Uber Technologies for market share in Southeast Asia could draw to a close. According to sources of the Wall Street Journal (WSJ), Uber has agreed, in principle, to sell most of its Southeast Asia operations to Grab in exchange for a 30% stake in the firm or less. The two companies are said to be still hashing out the final ...
Are ride-sharing companies the new banks?
(Sept 5): In Southeast Asia, mobile banking is taking on a whole new meaning. Last week, Grab, one of the region's top ride-hailing companies, announced that users of its app can start sending credits -- used to pay for rides -- to each other. By the end of the year, they'll be able to use those credits at more than 1,000 restaurants and retailers. If all goes well, Grab will one day be known as ...
Stocks have gotten ‘less attractive’ but still better than bonds: Buffett
(Aug 31): Warren Buffett, the billionaire chairman and chief executive officer of Berkshire Hathaway Inc., said the rally in markets over the last several years has made it harder to find bargains, but that stocks remain his choice over bonds. When asked why cash has been piling up at Berkshire, he told Bloomberg Television’s David Westin, “It tells us stocks aren’t as cheap as they’ve ...
With its treasure trove of data, Bloomberg expands into corporate advisory services
(Aug 23): Bloomberg, better known for its financial information terminals and wire service, has become the first major publisher to enter the arena of corporate advisory services. The financial information provider will use data from across its assets to provide bespoke brand consulting, corporate communications and marketing strategy advice. By charging clients between US$150,000 and ...
Philippines, Indonesia and India have got a Fed problem
(Aug 23): The populist leaders of India, Indonesia and the Philippines won office with promises of massive spending to upgrade their nation’s roads, railways and ports. Doing so, the thinking goes, would supercharge economic growth and emulate China’s success. India’s Prime Minister Narendra Modi intends to spend a record US$60 billion ($81.7 billion) on infrastructure this fiscal year. ...
Could this be the best time to buy Best World?
SINGAPORE (Aug 23): Maybank Kim Eng is maintaining its “buy” call on Best World International with an unchanged price target of $1.88, which is pegged to 19 times FY18E earnings per share (EPS) estimate of 9.9 cents. The research house is forecasting total sales of $303 million for FY18E, which translates to a core P/E of 12.1 times and P/BV of 3.9 times. In a Monday report, ...
Noble Group default risk flares as loss warning deepens crisis
(July 27): Noble Group Ltd.’s crisis escalated as Moody’s Investors Service Inc. flagged an elevated risk of default after the embattled Hong Kong-based commodity trader warned of a quarterly loss of as much as US$1.8 billion ($2.45 billion) and announced more asset sales. “The further expected deterioration in Noble’s financial results in the second quarter of 2017 suggests that ...
Stay actively invested in Greater China & Asia equities: Manulife
SINGAPORE (July 10): Asia ex-Japan equities have outperformed their developed market peers in the year to date, with the MSCI Asia ex-Japan index gaining 22.56% compared to just 9.88% for the MSCI World Index (developed markets), according to Bloomberg statistics cited by Manulife Asset Management. In a Monday release, the asset management arm of Manulife Financial says the outperformance was ...
This fund manager left his job to teach computers to think like him
(June 28): Since he left his job as hedge-fund manager last year, Muhammed Yesilhark has spent his days teaching computers to pick stocks like he did in his 12-year career. By the end of the year, the former head of European equities at Carmignac Gestion SA, who previously traded for billionaire Steven Cohen and hedge fund York Capital Management, says the algorithms will be ready to help run ...
Aberdeen's 1,400% man in Asia on why his heart isn't in passive
(June 28): Hugh Young understands the appeal of passive investing -- it’s one of the faster-growing offerings at his firm, Aberdeen Asset Management Plc. But that doesn’t mean he likes it. “My heart isn’t in it,” says Young, who co-founded Aberdeen’s Asia business in 1992 and has trounced the region’s benchmark index with his flagship equity fund over the past three ...