Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Asia Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
Norway's $1 trillion sovereign wealth fund should shift billions in investments from European stock markets and instead invest more in the United States and other North American markets to seek higher returns, the fund's manager recommended on Tuesday.
The world's largest sovereign wealth fund has historically given higher weighting to European stocks, focusing on countries that Norway does the most trade with, and a lower weighting to those of North America.
But the Norwegian central bank, which manages the Government Pension Fund Global, said this was no longer necessary, and it wanted the fund's portfolio to better reflect the available pool of investments.
"We can all see that both return and the common measure of risk has been better in North America in the past years than it has been in the rest of the world," Egil Matsen, the deputy central bank governor in charge of the fund, told Reuters.
He declined to say how much of the value of the fund could potentially shift further to North American equities.
"We are not specific on that, and that is a conscious decision," he said, stressing that it would be up to the finance ministry, and parliament, to decide whether to take up the central bank's advice.
If they do, it would mean potentially billions of euros, pounds and other European currencies of investments would shift from Europe to the United States and other North American markets.
As it stands, Norway's rainy day fund, which invests the proceeds of the country's oil and gas production, owns more European stocks and fewer U.S. shares than the size of those markets would dictate
But the fund eased the policy of directing investment to Norway's most important trading partners in 2012, the last time it reviewed its regional weighting.
The fund has since reduced its exposure to European shares from 50% of the total equity holdings to about 34% by the end of 2018. Some 43.0% of the fund's investments were in North America at the end of last year and 17% in Asia.
The advice is not based on any particular view on future return in individual markets or regions, the fund added.
The finance ministry said separately that it would give its assessment next spring. "Implementation of any changes in the benchmark index will be gradually over time," it said.