Business

China's Xi calls for stronger fintech oversight, security

A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better security in financial tech, state media reported, with the sector hit hard by a regulatory crackdown.

Business

Bitcoin plunges below $20,000

Bitcoin plunged below $20,000 on Saturday, shedding nine percent from the previous day to fall to $18,740, its lowest level since December 13, 2020.

Business

Alibaba profit slumps nearly 60% as tech crackdown, Covid bite

Chinese e-commerce giant Alibaba said Thursday its profit fell 59 percent in the last fiscal year, joining other tech firms that reported lacklustre results while grappling with COVID-19 restrictions and a sector crackdown.

Business

Bitcoin falls below $30,000, lowest since July 2021

Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation.

Business

Critics see risk in 'algorithmic' stablecoins

A new type of digital asset called an algorithmic stablecoin is gaining steam among crypto-enthusiasts—and drawing steam among critics, who warn its risks are in plain sight.

Business

Apple's revenue, profit top analyst views in latest quarter

Apple on Thursday reported quarterly results that topped analysts' profit projections despite supply shortages, economic fallout from the Russia-Ukraine war and a growth slowdown from the huge sales lift that technology products ...

Business

Indonesia tech giant GoTo soars on market debut

Indonesia's biggest tech firm soared on its market debut Monday after a billion-dollar IPO that was the world's fifth-biggest this year, defying recent heavy weather for Asian tech stocks.

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