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Mergers and acquisitions targeting technology companies have hit a record high in Asia Pacific, Dealogic data shows, and dealmakers expect this M&A pace to continue as the pandemic spurs a shift toward virtual activities in the economy. HONG KONG: Mergers and acquisitions targeting technology companies have hit a record high in Asia Pacific, Dealogic data shows, and dealmakers expect this M&A pace to continue as the pandemic spurs a shift toward virtual activities in the economy. Tech M&A has totalled US$136.2 billion in 2020, more than double the year-ago levels, according to data provider Dealogic. Tech deals accounted for 28per cent of the regions' overall M&A transactions, which totalled US$482.4 billion as of Wednesday, the highest share in at least a decade, the data shows. T...

related media assets (image or videos) available. Click to see the gallery. 2 related media assets (image or videos) available. Click to see the gallery. SINGAPORE: Fewer people on board lorries were injured or killed in road traffic accidents since safety measures were introduced in 2009 and 2010, said the Land Transport Authority (LTA) on Friday (May 7). In a statement, an LTA spokesperson said the traffic police are currently investigating the two recent accidents involving lorries ferrying passengers. The driver involved in the first case has been arrested for careless driving causing death. "Internationally, while there are different practices, it is not uncommon for goods vehicles to be used to carry passengers. "For example, countries such as Canada, Thailand and the US...

CANBERRA: Australia will spend A$747 million (US$580 million) to upgrade four northern military bases and expand war games with the United States, Prime Minister Scott Morrison said on Wednesday (Apr 28). In an announcement that comes amid an increasingly bitter diplomatic and trade spat with China, Morrison said that Australia must expand its military assets in the Northern Territory to be able respond to unspecified tensions in the Asia-Pacific region. "Our objective is a free and open Indo-Pacific, to ensure a peaceful region, one that, at the same time, Australia is in a position to always protect its interests," Morrison told reporters in Darwin. While Morrison avoided naming China on Wednesday, Australia's military focus on the Indo-Pacific area comes amid rising competition b...

WASHINGTON: American astronaut Michael Collins, who piloted the Apollo 11 command module while his crewmates became the first people to walk on the Moon, died on Wednesday (Apr 28) after battling cancer, his family said. Sometimes called "the loneliest man in history" because of his long solo flight while his colleagues loped across the lunar surface, Collins never earned the same global name recognition as Neil Armstrong and Buzz Aldrin. But he was hailed as a lifelong advocate of space exploration: erudite and witty yet also self-effacing, maintaining in a 2009 interview with NASA that his historic accomplishments were "90 per cent blind luck" and that astronauts should not be celebrated as heroes. "Mike always faced the challenges of life with grace and humility, and faced this, ...

BEIJING: China renewed its criticism on Wednesday (Apr 28) of Japan's decision to release treated radioactive water from the wrecked Fukushima nuclear plant into the Pacific Ocean. Foreign Ministry spokesperson Zhao Lijian called the decision to release the water over the next two years a money-saving measure that is “extremely irresponsible". Zhao also rejected Japanese complaints over a tweet he earlier sent criticising Japan's decision with a picture of a famous Japanese print of a massive wave, saying it was hypocritical of Japan not to allow others to criticise when it had failed to consider the concerns of its neighbors. “Certain Japanese officials have been playing deaf and dumb. Then why are they so angry about this image?" Zhao said at a daily briefing. “The Japanese side s...

WASHINGTON: The Federal Reserve held interest rates and its monthly bond-buying program steady on Wednesday (Apr 28), nodding to the US economy's growing strength but giving no sign it was ready to reduce its support for the recovery. "Amid progress on vaccinations and strong policy support, indicators of economic activity and employment have strengthened," the US central bank said in a unanimous policy statement at the end of a two-day meeting. Nevertheless, "the path of the economy will depend significantly on the course of the virus, including progress on vaccinations", the Fed said. "The ongoing public health crisis continues to weigh on the economy and risks to the economic outlook remain." The language about the coronavirus reflected a slightly less negative view than the Fed'...

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners. When it comes to helping your child pay for their college education, the astronomical cost of tuition can be overwhelming. Taking advantage of a 529 plan, and the many benefits they offer, can help parents sleep better at night knowing their children won't one day be burdened by overwhelming student loan debt. These state-sponsored savings plans are designed to encourage parents to invest in their child's future by allowing earnings to grow tax-free. Withdrawals are also tax-free as long as they are used for qualified educational expenses — think tuition, books and ne...

One can assess ASEAN’s recent emergency meeting in Jakarta in two ways. One scenario is cautiously optimistic; the other would be tantamount to pure fatalism, says a foreign affairs observer. SINGAPORE: ASEAN Leaders have met in person for the first time in well over a year since March 2020, when the COVID-19 pandemic reared its head. It was also the first international meeting that Senior General Min Aung Hlaing attended since the February coup in Myanmar. While ASEAN has been criticised for its lack of effective action on the coup, the meeting itself is a testament to the grouping’s convening power. The meeting, which took place in Jakarta at the ASEAN Secretariat, was the outcome of weeks of shuttle diplomacy by several ASEAN foreign ministers, including back-to-back bilateral me...

Losses in three special elections for parliamentary seats in a single day have left Prime Minister Yoshihide Suga in search of a way to quickly boost support or risk joining a long list of short-serving prime ministers. Support for Suga, who succeeded his long-time boss, Shinzo Abe, last year, has been dragged down by corruption scandals and a sluggish COVID-19 response. The triple loss in the weekend elections came on the same day that a new virus emergency was imposed on about a quarter of the population, adding to Suga’s woes with the clock ticking for a general election that must be held within six months. The Liberal Democratic Party-led ruling coalition is unlikely to lose control of the government, given weak public support for opposition parties, meaning the current agenda of ult...

President Joe Biden delivers remarks on the state of his American Rescue Plan from the State Dining Room at the White House in Washington, D.C., U.S., May 5, 2021. Jonathan Ernst | Reuters Qualified business income deduction The so-called qualified business income, or QBI, deduction is part of the 2017 Tax Cut and Jobs Act. The provision allows pass-through businesses, such as sole proprietors, partnerships and S-corporations, to deduct up to 20% of eligible revenue. For 2020, single filers earning less than $163,300 and couples making below $326,600 may qualify for the full 20% deduction. However, those above the thresholds may only take a partial deduction, and some businesses lose eligibility altogether. For example, so-called specified service trades or businesses — those working in...