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China's Baidu cancels $3.6 bn purchase of livestreaming site
China's Baidu cancels $3.6 bn purchase of livestreaming site
by  AFP

Chinese internet giant Baidu has said it was cancelling the planned multi-billion-dollar purchase of livestreaming platform YY Live, partly blaming its inability to get government approval. Baidu, the country's top search engine company, agreed in 2020 to buy JOYY Inc's Chinese live video business YY Live for $3.6 billion.

New year gets off to a weak start as traders eye rate cuts
New year gets off to a weak start as traders eye rate cuts
by  AFP

Asian markets slipped Tuesday as most traders returned from the New Year break looking forward to a 2024 that is expected to see a series of Federal Reserve interest rate cuts, but to also be full of economic and political uncertainty. Despite the upbeat outlook on rates, Asian markets started the year with little fanfare, with Hong Kong and Shanghai extending their 2023 losses.

Ethiopia, Somaliland agree deal on port access
Ethiopia, Somaliland agree deal on port access
by  AFP

Ethiopia on Monday struck a "historic" agreement to secure a stake in the main port in Somalia's breakaway region of Somaliland as the landlocked country eyes more access to the sea, officials said. The agreement "shall pave the way to realise the aspiration of Ethiopia to secure access to the sea and diversify its access to seaport," the office said in a statement posted on X, formerly Twitter.

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