technology

What's behind Alibaba’s quest to raise US$30 billion?

SINGAPORE (Aug 12): Why would a hugely profitable, cash-flush firm raise more money than has ever been raised by a listed company? That is the question befuddling investors. Hangzhou-based, New York-listed e-commerce behemoth Alibaba Group Holding, China’s largest company by market capitalisation, currently has nearly US$30 billion ($41.46 billion) in cash and cash equivalent on its balance sheet. Two months ago, Alibaba filed with Hong Kong’s Securities and Futures Commission to raise at least US$20 billion more in a secondary listing in Hong Kong later this year.

What's behind Alibaba’s quest to raise US$30 billion?

SINGAPORE (Aug 12): Why would a hugely profitable, cash-flush firm raise more money than has ever been raised by a listed company? That is the question befuddling investors. Hangzhou-based, New York-listed e-commerce behemoth Alibaba Group Holding, China’s largest company by market capitalisation, currently has nearly US$30 billion ($41.46 billion) in cash and cash equivalent on its balance sheet. Two months ago, Alibaba filed with Hong Kong’s Securities and Futures Commission to raise at least US$20 billion more in a secondary listing in Hong Kong later this year.

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How Shopify turned a reality TV star into a billionaire

SINGAPORE (Aug 5): Who was the youngest person ever to become a billionaire? Here’s a clue: Forget Silicon Valley tech entrepreneurs who started software or internet firms from their university dorm room or their parents’ garage. Last year, Kylie Jenner, the youngest of the Kardashian-Jenner reality TV star brood that includes her famous half-sisters Kourtney, Kim and Khloé, and sister Kendall, became a billionaire in her own right at the ripe old age of 20. 

How Shopify turned a reality TV star into a billionaire

SINGAPORE (Aug 5): Who was the youngest person ever to become a billionaire? Here’s a clue: Forget Silicon Valley tech entrepreneurs who started software or internet firms from their university dorm room or their parents’ garage. Last year, Kylie Jenner, the youngest of the Kardashian-Jenner reality TV star brood that includes her famous half-sisters Kourtney, Kim and Khloé, and sister Kendall, became a billionaire in her own right at the ripe old age of 20. 

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Hashtacs aims to simplify processes in financial sevices sector with blockchain

SINGAPORE (July 19): Jay Ng had a near-death experience in the UK a couple of years ago, when London was experiencing a fintech boom.

While he was lying in a hospital bed, three things came to mind: health, relationships and social impact.

At his previous job at URA, Ng was already managing a portfolio with assets worth about $1 billion, but he did not think he was making a significant social impact.

Later, a chance meeting with an old classmate caused Ng to think of marrying his knowledge of asset and fund management with blockchain technology.

Will Big Tech be broken up or regulated?

SINGAPORE (July 15): On July 16, top executives from tech behemoths Facebook, Google’s owner Alphabet, Amazon.com and Apple will testify before the US House Committee on the Judiciary. The congressional hearing, part of a wide-ranging antitrust probe of the tech players that have a combined market capitalisation of US$3.3 trillion ($4.49 trillion), will cover their potential threat to competition and innovation as well as whether their continued dominance is harmful to consumers or business rivals. 

Will Big Tech be broken up or regulated?

SINGAPORE (July 15): On July 16, top executives from tech behemoths Facebook, Google’s owner Alphabet, Amazon.com and Apple will testify before the US House Committee on the Judiciary. The congressional hearing, part of a wide-ranging antitrust probe of the tech players that have a combined market capitalisation of US$3.3 trillion ($4.49 trillion), will cover their potential threat to competition and innovation as well as whether their continued dominance is harmful to consumers or business rivals. 

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Bank for International Settlements sets up innovation hub centre in Singapore

SINGAPORE (July 1): The Bank for International Settlements (BIS), the Basel, Switzerland-based institution, which watches over global financial stability, has selected Singapore as one of the locations for an innovation hub centre, alongside Basel and Hong Kong.

In collaboration with other central banks, the Singapore Hub Centre aims to develop the technology architecture for an efficient and secure digital global financial system and facilitate experiments in the application of technology to enhance financial regulation.

Tech's finance push is disrupting regulators too

SINGAPORE (July 1): Big technology companies have upended industries ranging from music to retailing. What will be their disruptive impact on financial services? That is the latest conundrum keeping bank regulators awake at night. Innovations such as Facebook’s new global digital currency, Libra, demand a joined-up response. That will be hard to agree.

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Tech funds perform despite Huawei ban, but fund managers more wary as

SINGAPORE (July 1): On May 16, trade tensions between the US and China escalated to a new high when the former announced that Huawei Technologies was placed on the Entity List. Essentially, this means the Chinese company is subject to licence requirements for exports, effectively barring it from doing business with US companies. To soften the blow on US companies and smartphone owners, the prohibition is only set to take effect after a 90-day grace period. Yet, the conflict could worsen. 

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