SINGAPORE - Google's Asia Pacific headquarters here is a vast expanse of green, steel and light colored wood, with fixtures that take their names after regional landmarks, including those in the Philippines. Employees and guests can lounge on Cebu-based designer Kenneth Cobonpue's Yoda chairs in light green, placed beside the floor to ceiling glass windows that overlook the Mapletree Business City. Some meetings rooms are named after famous tourist spots, including the Chocolate Hills in Bohol and Banaue province, where the rice terraces are located. It is not uncommon for multinational companies to name meeting rooms in their regional hubs after local landmarks. Bloomberg's Singapore office has a meeting room named after Malacañang. A life-sized Google logo is displayed in the lobby. A giant Lego set mounted on the wall keeps guests entertained. A "unisex" restroom is open to everyone, apparently including androids and mermaids. The lobby is vast and devoid of traditional office … [Read more...] about News LOOK: Google’s Asia Pacific HQ has Filipino touches
SINGAPORE: Ride-hailing firm Uber Technologies Inc [UBER.UL] has agreed to sell its Southeast Asian business to bigger regional rival Grab, sources with knowledge of the matter said on Sunday, in what would be the US company's second retreat from Asia. The deal, which could be announced as early as Monday, marks the industry's first big consolidation in Southeast Asia, home to about 640 million people, and puts pressure on rivals such as Indonesia's Go-Jek, backed by Alphabet Inc's Google and China's Tencent Holdings Ltd. As part of the transaction, Uber would get a stake of as much as 30% in the combined business, said a source with direct knowledge of the matter who did not want to be identified as the deal is not yet public. Another source familiar with the deal said Uber would acquire a 25% to 30% stake in Grab, valuing the entire business at US$6 billion (RM23 billion), the same valuation it commanded in its most recent capital raising. Uber and Singapore-based Grab, Southeast … [Read more...] about Uber to sell Southeast Asia business to rival Grab: Sources
The world is facing a complex international scenario with the threat of conflict on the Korean peninsula, a possible global trade war and growing tension in the Middle East. Economic interdependence, mutual distrust and unreliable security guarantees encourage ostensible allies to hedge against one another to protect their interests. The big question is the rise of China both economically and militarily and its growing assertiveness in the South China Sea, South Asia, Eurasia and Africa. China is clearly undermining regional security by engaging in coercive activity in the South China Sea and challenging the International Tribunal ruling https://goo.gl/nMNozT. South China Sea sovereignty and the huge rise in China’s military budget are deeply troubling concerns for Asian countries. It’s clear that China is seeking global domination. The dailyReport Must-reads from across Asia - directly to your inbox This will be the Asia Century in terms of economics, military … [Read more...] about An Indian Marshall Plan to thwart China’s Asia ambitions?
BANGKOK Thailand is not concerned about the movement of fugitive former Prime Minister Thaksin Shinawatra and his sister, also an ousted former leader, after recent visits by the pair to several Asian cities and meetings with members of their party. The Shinawatras have dominated Thai politics for nearly two decades and wield significant influence through allies and relatives despite both living in self-exile. They are likely to be a significant factor in a general election the junta has promised for November. Critics say the military, which took power in a 2014 coup that removed Yingluck Shinawatra's government, wants to end the family's political influence - something that is reflected in a new, military-backed charter, party laws and restrictions on political parties. Thaksin and Yingluck visited China and Japan this month and met at least 30 members of parliament from their Puea Thai party in Hong Kong on the weekend, party members said after returning to Thailand. The two were … [Read more...] about Thai junta says ‘not concerned’ about Thaksin’s Asia tour
Asia is at the heart of Deutsche Bank Wealth Management’s plan to rebuild after a shaky few years with further staff hires expected to complement a recovery in assets that is outpacing the global trend, its regional head said on Tuesday.Deutsche Bank dropped out of the world’s top 15 private banks in 2016, after it withdrew from a number of countries, saw some high profile departures and German’s biggest lender was lumped with a hefty fine for mis-selling mortgage-backed securities before the 2007-2009 financial crisis.Lok Yim, its head of Asia Pacific wealth management, said that period was now firmly in the past and he planned to add 20-25 mostly client-focused executives per annum in his unit going forward on top of 50 hired over the last year.“Having taken away the uncertainties and done the recovery, you now go to the growth mode,” Yim said.“The growth is going to be driven by Asia, and we are going to take a larger proportion of the investments … [Read more...] about Deutsche’s Asia wealth unit looks to bolster recovery with more hires