NO TWO-CENT PLAYER TENCENT: Tencent runs China’s biggest social network, music and gaming systems. Its, with its billion user-strong WeChat messaging app sitting is at the heart of the country’s booming internet Internet economy. Picture: BLOOMBERG/ANTHONY KWAN
NO TWO-CENT PLAYER TENCENT: Tencent runs China’s biggest social network, music and gaming systems. Its, with its billion user-strong WeChat messaging app sitting is at the heart of the country’s booming internet Internet economy. Picture: BLOOMBERG/ANTHONY KWAN

Tencent bides time

Tencent will take its social networking platforms, music and gaming services to a global audience only if it believes it can fill a gap in the market, Tencent senior executive vice-president Seng Yee Lau said last week.

Speculation has grown that the company will expand internationally, following a string of investments and English-language content partnerships abroad.

Greece gets a boost

Eurozone finance ministers last week extended maturities and deferred interest for a major part of their loans to Greece, while providing a big cash injection to ensure Athens can stand on its own after it exits its bailout in August.

Greece has lived primarily on money borrowed from eurozone governments in three bailouts since 2010, when it lost market access due to a ballooning budget deficit, huge public debt and an inefficient economy and welfare system.

With hundreds of reforms already completed, Greece has made significant progress. But potential investors need to know the country will not collapse under the weight of servicing a debt of 180% of GDP.

Reuters

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