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TikTok to spend billions in SE Asia as e-commerce move pays off
TikTok to spend billions in SE Asia as e-commerce move pays off
Business and Economy
by  AFP

TikTok's chief executive said Thursday the company would pour billions of dollars into Southeast Asia in the coming years, as a report showed its nascent venture into online shopping is paying off. "We're going to invest billions of dollars in Indonesia and Southeast Asia over the next few years," Shou Zi Chew told a forum in Indonesian capital Jakarta.

AIIB serves China's Communist Party: Canadian former executive
AIIB serves China's Communist Party: Canadian former executive
Business and Economy
by  AFP

China's ruling Communist Party dominates the Asian Infrastructure Investment Bank and uses it to further its interests, a former executive has alleged in claims that prompted Canada to suspend participation in the institution. Speaking from Tokyo, he said the bank "serves China's interest" and the Chinese Communist Party (CCP) wields "undue" influence over every aspect of its operations.

ECB tipped to hike rates again, as Fed hits pause
ECB tipped to hike rates again, as Fed hits pause
Business and Economy
by  AFP

The European Central Bank is expected to again hike interest rates on Thursday and signal that the fight against inflation is not over yet, analysts said, even as the eurozone falls into recession. Like all central banks, the ECB has to walk a fine line in raising interest rates sufficiently to dampen demand and contain inflation, without provoking a sharp economic slowdown in the process.