Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
There's more pain ahead for the U.S. and China amid their bilateral trade dispute, according to one expert.China Politicsread more
The U.S. government on Monday temporarily eased some trade restrictions imposed recently on China's Huawei, a move that sought to minimize disruption for the telecom company's...Technologyread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
Stocks in Asia mostly recovered in Tuesday afternoon trade as investors cheered a reprieve in U.S.-China trade tensions surrounding Chinese telecommunications giant Huawei.Asia Marketsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
Huya, a Chinese live streaming platform focused on gaming, is looking to expand into the U.S. in the next couple of years, CEO Rongjie Dong told CNBC. The U.S. is expected to...Technologyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
Singapore's parliament on Wednesday passed an anti-fake news bill that has been criticized by rights groups, journalists and tech firms over fears it could be used to clamp down on freedom of speech.
The law will require online media platforms to carry corrections or remove content the government considers to be false, with penalties for perpetrators running as high as prison terms of up to 10 years or fines up to 1 million Singapore dollars ($735,000).
The Protection from Online Falsehoods and Manipulation Bill passed with 72 members voting in favor. All nine opposition lawmakers voted against, local media reported.
Three nominated members of parliament, who are appointed directly by the president and not affiliated to political parties, all abstained.
But Law Minister K. Shanmugam earlier told parliament the legislation should not be feared.
"Free speech should not be affected by this bill. We are talking here about falsehoods. We are talking about bots... trolls... fake accounts and so on," Shanmugam said.
"The working of a democratic society depends on the members of that society being informed and not misinformed."
Singapore is ranked 151 among 180 countries rated in the World Press Freedom Index of Reporters Without Borders, a non-government group that promotes freedom of information — below Russia and Myanmar.
The International Commission of Jurists, an association made up of senior judges, lawyers and legal scholars who campaign to uphold human rights standards around the world, said the law could be subject to abuse.
"The severe penalties proposed under the bill, its broad scope of territorial jurisdiction and the absence of clear protections for expression pose real risks that it will be misused to clamp down on the free exchange and expression of opinions and information," ICJ's Asia Pacific director, Frederick Rawski, said in an email to Reuters.
The wealthy city-state says it is vulnerable to fake news because of its position as a global financial hub, its mixed ethnic and religious population and widespread internet access.