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Tencent Shares Fall After Chinese Regulators Block Sales of “Monster Hunter”

Tencent Shares Fall After Chinese Regulators Block Sales of “Monster Hunter”

Tencent shares fell more than 3% last Tuesday after it was announced that the tech giant will not be able to sell a hugely popular game called “Monster Hunter: World” on its WeGame distribution platform. Chinese regulators reportedly banned the game for not meeting regulatory requirements. However, a source close to the matter said that the removal was due to bureaucratic infighting with the country’s new regulator. The tech giant’s gaming business has become a significant source of revenue, with titles like “Honor of Kings” boosting smartphone gaming revenues up by as much as 68%. Source: CNBC

Bitcoin Drops to $6000, Lowest Level of 2018

Bitcoin Drops to $6000, Lowest Level of 2018

Bitcoin fell to $5900 last Monday for the first time since June, taking the majority of other cryptocurrencies along with it. According to CoinDesk’s index data, the world’s biggest virtual currency by value went down by 4% before recovering to $6112. Meanwhile, Ethereum fell to its lowest level since September to $267.61, while Ripple retreated to 27 cents. CryptoCompare CEO Charles Hayter says that the downtrend was due to the postponement of a bitcoin exchange-traded fund (ETF) proposed by VanEck and Solid X.   Source: CNBC

Malaysia Places Fourth in AI Adoption in Southeast Asia

Malaysia Places Fourth in AI Adoption in Southeast Asia

According to a recent survey by IT market research and advisory firm IDC titled IDC Asia/Pacific Enterprise Cognitive/AI says that AI adoption in Southeast Asia is on the rise, with 34% of organisations in Malaysia revealing plans to adopt AI in the next two years. Malaysia also placed fourth with 8.1% of all companies being open to the adoption and integration of artificial intelligence into their operations. It is said that Malaysia’s increasing focus on AI is brought by its smart cities initiatives and applications in public safety and intelligent transportation. However, a these initiatives would need more time to […]

Indian Gov’t Asks Amazon to Set Up Local Servers for Protection of Customer Data

Indian Gov’t Asks Amazon to Set Up Local Servers for Protection of Customer Data

India’s Electronics and Information Technology Minister Ravi Shankar Prasad recently asked Amazon India head Amit Agarwal to set up servers within the country to prevent the unregulated migration of customers’ personal data. Prasad said that while big foreign companies are welcome in India, it is important that they keep the data of Indian customers in onshore servers and the consent of the subject is obtained. Amazon India has not yet made an official reply, but government officials said that the company is already making efforts towards the data protection of Indians. Source: Business Standard

Australian Encryption Bill Promises No Backdoors, but Still Full of Loopholes

Australian Encryption Bill Promises No Backdoors, but Still Full of Loopholes

It was recently reported that Australia’s Telecommunications and Other Legislation Amendment (Assistance and Access) Bill 2018 [PDF], which was released on Tuesday, promises not to weaken encryption and will not compel providers to implement vulnerabilities into forms of electronic protections. However, it was pointed out that the Bill creates a framework for providing access to endpoint devices which means that messages can be intercepted before they are encrypted. It will also require providers to use software given by the government, which could include spyware. It was also pointed out that there was a possibility that providers may substitute a service […]

Google Boosts Local Partnership for Return to China

Google Boosts Local Partnership for Return to China

A new report from the Wall Street Journal revealed that Google had been increasing its partnership with local companies in China for years in preparation for its re-entry into the market. It was revealed that CEO Sundar Pichai had been cultivating partnerships with developers who had been using Google’s infrastructure, as well as companies using Google Ads to reach customers outside of China. The search giant had also been engaging in talks with Tencent on jointly offering cloud computing services. The WSJ also pointed out that the partnerships should show the ruling Communist Party that Google is contributing to local […]

Singapore Pilots Use of Quarantined Servers to Reduce Attack Surface

Singapore Pilots Use of Quarantined Servers to Reduce Attack Surface

Singapore Health Minister Gan Kim Yong revealed this week that they are currently testing the use of quarantined servers to reduce the attack surface of the country’s healthcare systems. Gan said that using virtual browsers, which are physically or logically segregated from the computer’s OS, should help users browse more safely. The Minister added that the virtual browser pilot program, as well as the rollout of advanced threat protection, should be completed by the end of the month. Source: ZDNet

Australian Consumer Watchdog to Oversee New Consumer Data Right

Australian Consumer Watchdog to Oversee New Consumer Data Right

It was revealed this week that the Australian Competition and Consumer Commission (ACCC) has been put in charge of overseeing the country’s new Consumer Data Right (CDR) which seeks to give Australians ownership of their data by providing open access to information on various services transactions. ACCC chairman Rod Sims said that while the CRR is not intended to be a “one-stop shop” for regulation and control of consumer data, it is instead something that will give consumers the right to safely access their data that is kept by business and direct how it is shared. Sims also clarified that […]

ZTE Drops More Executives, Gets Temporary Reprieve from US Govt

ZTE Drops More Executives, Gets Temporary Reprieve from US Govt

The US government this week reportedly granted temporary reprieve to China’s ZTE Corp, allowing it to conduct business needed to maintain existing networks and equipment while working to lift the supplier ban that was imposed on it. Reuters said that the U.S. Commerce Department’s Bureau of Industry and Services authorization runs from July 2 until Aug. 1. ZTE also revealed in exchange filings last Tuesday that one other senior executive had left. However, a source said that seven other, including the vice presidents of legal, finance and supply chain departments had been removed in a radical overhaul of its management. […]

ZTE Unveils New Board to Lift US Ban

ZTE Unveils New Board to Lift US Ban

Chinese telecom giant ZTE revealed this week a new board in fulfillment to an agreement it entered with the US government to lift the ban on its business in the country. According to exchange filings last Friday, Li Zixue was elected as the company’s new chairman, while the old board and senior management, headed by Chairman Yin Yimin, have submitted their resignation on June 29. Even though the company had already paid a $1 billion penalty and put $400 million in an escrow account as part of the deal, the U.S. Department of Commerce still has to work out the […]