AI firm iFLYTEK posts strong H1 revenue growth
China’s leading artificial intelligence (AI) and speech technology company iFLYTEK Co., Ltd. posted strong revenue growth in the first half (H1) of 2022, according to the company’s semiannual report released on Monday. The operating revenue of iFLYTEK amounted to over 8.02 billion yuan (about 1.17 billion U.S. dollars) during the period, up 26.97 percent year…
Former Gold Coast investment scheme promoter pleads guilty to fraud
On 22 August 2022, Anthony Keith Silver (also known as Tony Silver) of Hobart, Tasmania, pleaded guilty to one count of fraud totalling $1.815 million, following an ASIC investigation. Mr Silver was the shadow director of Capital Growth International Club Pty Ltd and All About Property Developments Pty Ltd (the scheme companies), which raised approximately…
Evening report Tuesday
Ahead of the Jackson Hole economic symposium on Thursday, the Aussie sharemarket finished at session lows and fell for a second straight day, with the ASX 200 closing 85 points or 1.2 per cent lower, to 6961. Nine of 11 sectors posted declines, with the Consumer Staples sector down the most (-3.8 per cent –…
Hot in the city: why investors should care about soaring temperatures
As heatwaves become more frequent, city centre buildings will need to adapt. For investors in global cities, keeping a close eye on weather data will become vital. As investors in global cities, we have been using planetary-scale environmental geospatial data since 2019. We have been continuously investigating and mining datasets more commonly found in academic…
Good jobs and skills for Australian heavy industry
Solutions to the national shortage of skilled labour and building back Australia’s industrial base will be high on the agenda for the Assistant Manufacturing Minister Tim Ayres who will chair a special Jobs and Skills Roundtable for Australian Heavy Industry today. Ahead of the upcoming Jobs and Skills Summit, Assistant Minister Ayres said today’s roundtable is an important step for how the Government and industry can develop plans that deliver good jobs and the right…
ACCC warning of suspicious phone messages
Scamwatch is urging the public to be wary of phone messages from a family member or friend claiming they need help, following a significant rise in “Hi Mum” scams in recent months. More than 1,150 Australians fell victim to the so-called “Hi Mum” scam in the first seven months of this year, with total reported…
Conflict threatens 90% of Australia’s fuel imports
China’s sabre-rattling around Taiwan underlines the need for Australia to be prepared for conflict in the South China Sea. With its growing navy and air force, and the bases it has built throughout the area, China is increasingly capable of disrupting shipping lanes crucial to Australia’s exports and imports. Of particular concern is our reliance…
China cuts benchmark lending rate LPR
China cut the market-based benchmark lending rates in a bid to shore up growth. The one-year loan prime rate (LPR) came in at 3.65 percent Monday, down from 3.7 percent, according to the National Interbank Funding Center. The over-five-year LPR, on which many lenders base their mortgage rates, was lowered by 15 basis points to…
Former DanFX Trade director arrested and extradited
Unlicensed foreign exchange trader Daniel Farook Ali has faced the Brisbane Magistrates Court charged with eight counts of fraud totalling $977,000, after being extradited from Poland and arrested following an ASIC investigation. ASIC alleges that between May 2016 and November 2017, Mr Ali dishonestly used funds provided to him by investors for trading and investment…
Beijing bourse sees over 5.1 million investors open accounts
The Beijing Stock Exchange (BSE) has seen more investors open accounts since it started trading in November last year, bringing the total number to over 5.1 million, the exchange said. The type and structure of funds have been significantly improved, with institutional investors including public offering funds and social security funds actively trading on the…
