China’s Ant Financial, an affiliate of ecommerce giant Alibaba Group Holdings, has joined the race for a digital banking licence in Singapore, the company said in a statement on Thursday. The Monetary Authority of Singapore (MAS) has said it will issue five such licenses, as it embarks on the biggest liberalisation of its banking sector in two decades. “In line with our commitment to promoting financial inclusion globally, we have submitted an application to the Monetary Authority of Singapore f

Abu-Dhabi based healthcare firm NMC Health is embroiled in a bitter battle with U.S. short seller Muddy Waters, after the latter produced a report questioning the company’s accounting practices and sending its stock tumbling. In its report, Muddy Waters raised concerns about overpayment in NMC’s $107.4 million investment in the redevelopment of NMC Royal Women’s Hospital and purchase of Premier Care Home Medical and Health Care LLC. It also highlighted “red flags” in the company’s reported cash

The British pound could soar to $1.65 in 2020 and the currency will be one of the biggest trades in the world, a currency strategist told CNBC Thursday. Speaking to CNBC’s “Squawk Box Europe,” Michael Harris, founder of Cribstone Strategic Macro, predicted the currency could see a surge as investors revaluated the U.K.’s long-term potential. “It’ll be one of the biggest trades in the world.” The pound rallied to $1.35 — a jump of more than 2% — following pro-Brexit Boris Johnson’s election victo

Rescuers work beside the wreckage of an Ethiopian Airlines’ aircraft at the crash site, some 50 km east of Addis Ababa, capital of Ethiopia, on March 10, 2019. The number of people killed in commercial airplane crashes more than halved in 2019 from the previous year, according to one study by aviation consultants. In 2019, there were 86 recorded accidents around the world, eight of which were fatal. To70 said it factored a 4.2% growth in air traffic for 2019 over 2018 to then calculate that, acr

Why Ghosn’s escape from Japan puts the French government in an awkward positionFormer Nissan chairman Carlos Ghosn met Lebanon’s president after fleeing from Japan, where he was smuggled out of house arrest by a private security company, two sources close to Ghosn said on Wednesday. CNBC’s Phil LeBeau reports.

The anti-government protests in Hong Kong thrust China’s influence into the spotlight and gave incumbent Taiwanese President Tsai Ing-wen a boost. Her popularity climbed further after widespread protests in Hong Kong, a special administrative region of China, which were spurred by fears of China’s growing influence and control. Today’s Hong Kong, tomorrow’s TaiwanThe “one country, two systems” framework would be a hard sell in Taiwan, where there have been several demonstrations in support of th

U.S. Treasury Secretary Steven Mnuchin will lead a group of U.S. officials who will attend the World Economic Forum later this month in Davos, Switzerland, the White House said Wednesday. Reuters reported on Dec. 17 that President Donald Trump planned to attend the annual Davos economic forum, citing asource familiar with the plan. In 2019, Trump had to cancel his plan to attend the annual gathering of global economic and world leaders due to agovernment shutdown. He attended the Davos forum in

President Donald Trump arrives on stage for a Keep America Great Rally at Kellogg Arena December 18, 2019, in Battle Creek, Michigan. So, I think that turbulence is going to carry on and intensify,” he told CNBC’s Squawk Box Europe. Tensions between the U.S. and Iran escalated on January 1 after President Trump threatened Tehran following an attack on the U.S. embassy in Iraq on Tuesday. On a geopolitical front, voters will be closely-watching the viability of a phase one trade deal between Chin

Tim Cook, chief executive officer of Apple Inc., speaks about the new iPhone 11. Apple will start working again with British chip designer Imagination Technologies, years after dissolving its relationship with the firm. In a short statement Thursday, Imagination Technologies announced a “new multi-year license agreement under which Apple has access to a wider range of Imagination’s intellectual property in exchange for license fees.” That news sent the once-listed firm’s shares tumbling as much

Don Larsen, the journeyman pitcher who reached the heights of baseball glory in 1956 for the New York Yankees when he threw a perfect game and the only no-hitter in World Series history, died Wednesday night. On the night before his perfect game, he had been out on the town, believing he was not in Stengel’s plans for the next day. He won Game 2 of the 1957 series against Hank Aaron and the Milwaukee Braves, but lost the decisive Game 7. Pitching against the Yankees on Oct. 8, the sixth annivers

President Donald Trump’s personal lawyer Rudy Giuliani says he’d be willing to testify at his client’s Senate trial, but he would “love” to represent Trump in the proceedings. “I would testify, I would do demonstrations, I’d give lectures, I’d give summations, or I’d do what I do best, I’d try the case. I’d love to try the case,” Giuliani told reporters as he made his way into a New Year’s Eve celebration at the president’s Florida resort on Tuesday night. In that same interview, Giuliani said h

U.S. stock index futures were higher Thursday morning, ahead of the first trading day of 2020. ET, Dow futures climbed 121 points, indicating a higher open of more than 116 points. Futures on the S&P 500 and Nasdaq indexes were also higher. U.S. President Donald Trump said Tuesday that he will be signing a first phase trade deal with China on January 15 at the White House. The president also announced that he will be going to Beijing at a later date when phase two talks begin.

U.S. government debt prices were lower Thursday morning, as investors awaited Treasury auctions and a fresh batch of economic data. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.9175%, while the yield on the 30-year Treasury bond was higher at around 2.3896%. Market focus is largely attuned to global trade developments after President Donald Trump said earlier this week that the U.S. and China would soon sign a long-awaited trade pact. On the dat

Volunteer from “SENKOM” partner of Indonesia Police give evacuation to the flood victim at Bintaro-South Tangerang, Indonesia, on 1st January, 2020. Heavy floods hit Jakarta and surrounding areas, causing around 5 people dead from shock electricity and landslide from the flood. (Photo by Donal Husni/NurPhoto via Getty Images)Tens of thousands of people were evacuated in Indonesia’s capital Jakarta on Thursday after flash floods and landslides in the area killed up to 21 people, with more heavy r

Authorities expect growth of between 0.5% to 2.5% this year, while Singapore’s biggest bank DBS is forecasting a 1.4% expansion. With the island nation expected to hold elections within months, economists are looking for “generous” fiscal support to bolster growth at the upcoming budget on Feb. 18. “We are seeing improvement on the growth front although it will likely be a weak recovery,” said DBS economist Irvin Seah. The economy grew 0.1% quarter-on-quarter on an annualized and seasonally adju

Protesters hold up black flags during the demonstration. Entering the 7th month of civil unrest, protesters marched the streets, calling for the five demands to be met. About 400 people were arrested in New Year’s Day protests in Hong Kong after what started as a peaceful pro-democracy march of tens of thousands spiraled into chaotic scenes with police firing tear gas to disperse the crowds. When scuffles broke out, large numbers of black-clad protesters rushed to the scene while other protester

Japanese authorities allowed ousted Nissan boss Carlos Ghosn to carry a spare French passport in a locked case while out on bail, public broadcaster NHK said on Thursday, shedding some light on how he managed a dramatic escape to Lebanon. Prosecutors on Thursday raided the Tokyo residence of the former Nissan Motor Co Ltd chairman, NHK also reported. Ghosn, one of the world’s best-known executives, has become Japan’s most famous fugitive after he revealed on Tuesday he had fled to Lebanon to esc

A private survey released on Thursday showed China’s manufacturing activity expanded in the month of December, but missed analysts’ expectations. The Markit/Caixin Purchasing Managers’ Index (PMI) for manufacturing came in at 51.5 in December — analysts polled by Reuters had expected the private manufacturing PMI to come in at 51.7 in the last month of the year. IHS Markit and Caixin said in a press release that domestic demand expanded in December, but the pace of expansion was slower than in O

European stocks traded higher Thursday morning after U.S. President Donald Trump said that a phase one trade deal with China will be signed on January 15, though details of the deal remain hazy. The pan-European Stoxx 600 climbed 0.6% early in the session, with basic resources and banks rising more than 1% to lead gains as all sectors and major bourses entered positive territory. Shares in mainland China jumped overnight after a private survey showed rising manufacturing activity in December, fu

Gamers play ‘Overland’ by Blizzard using hardware from Razer during the 2017 Consumer Electronic Show (CES) in Las Vegas, Nevada. Gaming hardware company Razer said on Thursday it has submitted an application for a digital full bank license in Singapore. Razer Fintech will own a 60% majority stake in the business entity — called Razer Youth Bank — which will be headquartered in Singapore. Strategic partners will take up the remaining equity interest, the company said in a statement. The digital