HONG KONG — Airwallex, a Hong Kong-based fintech unicorn, has raised $160 million in a fresh round of funding, the largest amount of capital it has raised so far, to expand its global footprint and product offerings as it seeks acquisition opportunities in the payments sector. The series D fundraising […]
How British businesses are planning for a socially distanced reopening
The UK could emulate some of the measures in other countries on the Continent as restrictions are lifted, too. Austria has already reopened some shops, but only of a certain size – under 4,300 sq ft to manage the influx of people. There, it is also compulsory for shoppers to […]
Beijing Diary: Heroes from the ‘Anti-imperialist Hospital’
The Chinese government is battling to contain the coronavirus outbreak that has infected tens of thousands and killed more than 3,000 people, while spreading worldwide. Nikkei’s bureau chief in China, Tetsushi Takahashi, is on the ground in the capital and is filing dispatches on what he sees. Thursday, April 16 […]
Coronavirus latest: Philippine cuts policy rate unexpectedly
2:50 p.m. The Philippine central bank cuts its benchmark interest rate 50 basis points ahead of a May 21 policy meeting to counter the economic effects of the coronavirus pandemic. The cut takes the rate on the bank’s overnight reverse repurchase facility to 2.75% with effect from Friday. 12:40 p.m. China for […]
Retail sales slide in record decline
Retailers experienced the worst fall in sales on record last month as shops were forced to shut up and down the country. Total sales fell by 4.3pc in March, compared with 1.8pc decline for the same month last year, figures from the British Retail Council (BRC) and KPMG showed. It was […]
Myanmar allows Korean and Thai banks’ entry to boost investment
YANGON — Seven banks from around Asia are to enter Myanmar, raising the prospect that a more active presence by foreign lenders will encourage further inward investment from other industries. The banks’ entry was approved late last week by the Central Bank of Myanmar and are part of efforts to […]
Why landlords could be the catalyst for an impending house price crash
Predicting how much house prices may fall this year is a bit like playing lucky dip. Roll the tombola and see what number you pull out. It may be 3pc, suggests Capital Economics, or it might be 13pc, says the CEBR, another think tank. These are all based on extensive […]
Coronavirus latest: China’s home prices resume climb as virus impact fades
The Nikkei Asian Review is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan. More than 2 million people have been infected worldwide, according to the Johns Hopkins Coronavirus Resource Center. The death toll has exceeded 133,000. To see how the disease has […]
Telework rush leaves Japanese companies at risk of cyberattack
A hurried shift to telework is leaving Japanese companies open to cyberattacks through videoconferencing services, cloud storage and unsecure internet connections, according to security experts. “There are no borders in the cyberworld, so malicious attacks from outside targets on Japanese companies and employees are increasing because we are not familiar […]
Seven major foreign banks’ entry to boost FDI inflow in Myanmar
YANGON — Seven foreign banks, including Siam Commercial Bank, a top-three bank in Thailand, and Bank of China Hong Kong, will soon enter Myanmar, raising the prospect that more active foreign financial institutions might encourage foreign industries to venture into the country. The banks’ entry was approved late last week […]