SWITZERLAND: Two of the most anticipated IPOs are likely to round out 2020. Airbnb and DoorDash are expected to make their initial public offerings in mid-December. Both companies represent the future - one in travel experience and the other in food delivery. Arguably, DoorDash got a boost because of COVID-19, while Airbnb has taken a hit. That hit had been reflected in the company’s valuation which fell from a peak of US$38 billion in 2019 to US$18 billion this year. Even though Airbnb restored profitability by the third quarter, when it was reported that Airbnb’s IPO would value the company at US$35 billion, it raised the obvious question: Is it worth the price? The short answer is yes. Because Airbnb is the Amazon of travel. COVID-19 is to the hospitality industry in 2020 as the dot-com bubble was to the Internet in 2000. Jeff Bezos emerged from the crisis stronger than ever. So will Brian Chesky – co-founder and CEO of Airbnb. LISTEN: COVID-19: Aviation and flying … [Read more...] about Commentary: Is Airbnb’s IPO listing this week worth your investment?
Three nobel prize winners
YANGON: Myanmar's de facto leader Aung San Suu Kyi and other senior figures from the ruling party have been detained in an early morning raid, the spokesman for the governing National League for Democracy said on Monday (Feb 1). The move comes after days of escalating tension between the civilian government and the powerful military that stirred fears of a coup in the aftermath of an election the army says was fraudulent. Live updates: Aung San Suu Kyi, other Myanmar leaders detained READ: Myanmar military seizes power, declares state of emergency for one year Spokesman Myo Nyunt told Reuters by phone that Aung San Suu Kyi, President Win Myint and other leaders were "taken" in the early hours of the morning. "I want to tell our people not to respond rashly and I want them to act according to the law," he said, adding he also expected to be detained. An NLD lawmaker, who asked not to be named for fear of retaliation, said another of those detained was Han Thar … [Read more...] about Myanmar leader Aung San Suu Kyi and other senior party figures detained by army
WASHINGTON: President-elect Joe Biden is expected to nominate former Federal Reserve Chair Janet Yellen as US Treasury secretary, breaking a 231-year gender barrier and putting a seasoned economist and labour market expert in charge of leading the country out of the steepest downturn since the Great Depression. The move, confirmed by Democratic allies to the Biden campaign, will shift Treasury's focus heavily toward progressive efforts to tackle growing economic inequality and fighting climate change and away from the Trump administration's pre-pandemic emphasis on cutting taxes and easing financial regulations. Yellen, 74, brings Biden decades of economic policy experience and is respected by Congress, international finance officials, progressives and business interests alike. She has called for opening fiscal spending taps to revive an economy wracked by the coronavirus pandemic and would be the first person to head the Treasury, the Fed and the White House Council of Economic … [Read more...] about Biden to name ex-Fed chair Yellen as first woman Treasury secretary
Video Player Close by Xinhua writers Yao Yulin and Wang Xiaojie BEIJING, Feb. 26 (Xinhua) -- Among the prize winners at the 11th Annual Hollywood Music in Media Awards (HMMAs) in January was one that bucked convention and raised a few eyebrows, largely because the performers were not human. The award for Outstanding Song in a video game went to the band K/DA, consisting of four imaginary characters from League of Legends, one of the world's most frenetic games. While the news may have been eye-opening for some, it reflects a growing trend of fascination with virtual stars, which seem to have several advantages over their real-life counterparts. In 2020, China's online streaming giant iQiyi launched the country's first-ever talent show for virtual idols, Dimension Nova, where its own virtual band, RiCH BOOM, blew everyone's mind with the razzmatazz of their performances. "They are so different, clad in Peking Opera costumes on their debut show. Although they have a hint … [Read more...] about Feature: Rising virtual stars bring down the house in digital era
UNITED NATIONS: The United Nations Security Council called for the release of Myanmar's leader Aung San Suu Kyi and others detained by the military and stressed the need to uphold democracy, but stopped short of condemning this week's coup. In the United States, the din of voices weighing in to warn the generals to change course grew, as U.S. President Joe Biden said the military should step down and his security adviser said the administration was considering an executive order that could include sanctions. Myanmar's long and troubled transition to democracy was derailed on Monday when army commander Min Aung Hlaing took power, saying there were irregularities in a November election that Aung San Suu Kyi's party won in a landslide. The electoral commission had said the vote was fair. The 15-member UN Security Council said in a statement agreed by consensus on Thursday that they "stressed the need to uphold democratic institutions and processes, refrain from violence, and … [Read more...] about UN Security Council calls for release of Myanmar’s Aung San Suu Kyi