Money Briefs : Developing Asia 'to drive world economy'

Developing Asia 'to drive world economy'

MANILA • Developing Asian countries will drive the world economy in the next two years, the Asian Development Bank said yesterday, but it warned of uncertainties in the United States and Europe.

Its Asian Development Outlook said India, Malaysia, Indonesia and Vietnam will be behind an expected 5.7 per cent rise in Asia-Pacific gross domestic product, with China's expansion seen as moderating.

REUTERS


Tencent is world's No. 10 in market value

BEIJING • Chinese Internet titan Tencent Holdings has overtaken Wells Fargo by market value in the ranks of the world's biggest publicly traded companies. Tencent gained 1.6 per cent in Hong Kong on Wednesday, soaring to US$279 billion (S$390.9 billion) to place 10th. Six of the top 10 by market value are tech firms.

REUTERS

A version of this article appeared in the print edition of The Straits Times on April 07, 2017, with the headline 'Money Briefs'. Print Edition | Subscribe