The trade war between the United States and China has lasted for more than one year — and a resolution is nowhere in sight.World Economyread more
The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.Market Insiderread more
Pelosi said Trump should not have tried to address China's trade practices in a way that opened Americans up to financial pain.Politicsread more
Investors await the Fed's latest decision on monetary policy, set to be released on Wednesday stateside. The U.S. central bank is widely expected to cut rates by 25 basis...Asia Marketsread more
TransferWise posted an annual net profit of £10.3 million on revenues of £179 million.Technologyread more
Live the high life with a night's stay at Highclere Castle, the iconic stately home made famous by Downton Abbey.Spendread more
Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, warns the global chief economist of the Economist Intelligence Unit.Banksread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
In the survey, conducted after the third in the Democratic Party's series of debate, the former vice president draws 31% compared to 25% for the Massachusetts senator. At 14%,...2020 Electionsread more
Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting.US Marketsread more
Last year, it expanded its cloud solutions for companies on the Alibaba Cloud platform — an arm of the Chinese e-commerce giant. As part of the collaboration, both companies said they would jointly innovate and commercialize products.
At the World Economic Forum in Dalian, China, SAP's Executive Vice President Deepak Krishnamurthy told CNBC: "We believe in the partnership model."
"At the same time, we are also innovating in China for China. We have over 3,000 developers in China. We have a massive China acceleration plan," said Krishnamurthy, who is responsible for shaping SAP's global strategy.
He said there was an opportunity gap in China, the world's second largest economy.
"There's a huge opportunity in China. 50% of companies in U.S. and Europe are already looking at smart factory solutions, compared to 25% in China. So we think there's an opportunity gap," he said.
While the trade war between the U.S. and China has cast a pall on supply chains, especially for global businesses in China, Krishnamurthy saw it as a way to help his customers navigate the uncertain environment.
SAP's customers are in globally connected supply chains and his company's solutions can "help them manage supply chain decisions" using data, he said.
The trade war between Washington and Beijing has caused a diversion in trade flows: Companies are moving their manufacturing work from China — into other parts of the world such as Southeast Asia.
Importers from both the U.S. and China are also sourcing for products from alternative locations not targeted by tariffs, according to economists.
In addition, consulting firm Bain & Co predicted that as companies consider moving their supply chains into Southeast Asia, small and medium enterprises in the region will adopt more technologies in their daily operations that could potentially create a $1 trillion opportunity.
— CNBC's Saheli Roy Choudhury contributed to this report.