SpaceX’s satellite technology division, Starlink Inc., has registered its business in India to bring satellite internet services to rural districts. The India subsidiary Starlink Satellite Communications Private Limited will begin applying for licenses from the Indian government, allowing it to set up satellite-based broadband services in 12 rural districts, three each in the north, south,…More
US bans China Telecom services to preserve national security
The United States government has revoked China Telecom’s license to operate in the US due to concerns that the telco’s network is an open door to China’s intelligence gathering efforts. The ban follows the telco’s failure to address US government queries about the “unacceptable national security and law enforcement risks” associated with the company’s continued…More
AmEx profits surge on the back of spending recovery
American Express Company reported net income of $1.83 billion, or $2.27 per share, for the third quarter ended September 30, a 70% increase compared with net income of $1.1 billion, or $1.30 per share, a year ago. The growth was due to consumers and small businesses spending more on goods and services. There was a…More
US tightens export controls on surveillance tools used against private citizens
The US Department of Commerce has introduced a new rule to restrict the export of military-grade spyware to governments intent on using it to disrupt the internet or spy on private citizens. The rule covers spyware such as Pegasus, produced by Israeli technology company NSO Group. NSO sold the software to governments that used it…More
Apple admits to slowing down older iPhone models
If you’ve wondered whether Apple Inc purposely slows down older versions of its phones so that you’ll buy a new one, the tech giant’s recent admission that it did indeed slow down phones with aging batteries in order to “prolong the life” of the devices, might sound disingenuous. There is no evidence to suggest that…More
Will big deals address US trade deficit with China?
The highlight of President Trump’s recent landmark visit to the Asia Pacific region has not been impulsive tweets or off-topic rants, but the signing of corporate deals worth around USD$250 billion. Media reports have pointed out that most of the deals are non-binding memorandums of understanding (MOUs) or agreements negotiated much in advance of the…More
When there’s a boom let’s not bust it
As world stock markets hit record highs experts warn of financial vulnerabilities that must be addressed in order to prevent a massive shock to the global economy. MSCI’s world equity index, which tracks shares in 47 countries, gained 0.13 percent after hitting a record of 497.00, its highest in a month. The Dow, S&P 500…More
Solar panel maker REC watchful of U.S. policy on imports
U.S. curbs on cheap imports of solar panels could mean the widespread loss of jobs in Asia, which accounts for over 90 percent of the world’s solar-panel production capacity. Singapore-based panel-manufacturer, REC (Renewable Energy Corporation), is awaiting the Trump administration’s final decision on steps it might take in restricting imports of solar panels that compete…More
Nasdaq, SGX deal paves way for simultaneous listing on both bourses
Companies may soon be able to cross-list shares on Nasdaq and SGX. Nasdaq Inc. (NDAQ) and Singapore Exchange (SGX) have signed an agreement that will allow the exchanges to suss out how interested corporates are in seeking a concurrent or sequential listing in both markets. Nasdaq and SGX have had a strong working relationship. The…More
Singapore’s September electronics exports in sudden dip
Singapore’s non-oil domestic exports fell 1.1 percent in September on-year, due to a decrease in electronics shipments, a media release from the trade agency International Enterprise Singapore (IES) said. The contraction, after ten consecutive months of growth in non-oil domestic exports (NODX) culminating in a 16.7-percent growth in August, has taken economists by surprise. Economists…More
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