Veteran jewelry industry leader brings more than 25 years of
HONG KONG – Chinese automaker GAC is strengthening its footprint
HONG KONG – Sino Land Company Limited has been ranked
Envision Energy completes its largest offshore syndicated financing in the
Latest Edition Latest Stories Search Search Subscribe To Our News
News M&D Appoints Industry Veteran Tom Rizzi as Chief Executive
Rosewood Foundation honored five young entrepreneurs with HK$100,000 each at the 2025 Entrepreneurship Award, celebrating innovation and sustainability-driven startups.
Collaboration highlights YY Group’s growth, financial performance, and global market
Tron Inc. registers $1 billion in securities with the SEC to build a TRX-focused crypto treasury, signaling a strategic shift into decentralized finance.
Tariffs under Trump’s “America First” policies are weakening U.S. economic dominance, slowing growth, and shifting market momentum toward Europe and China.
MYEG and MyDigital ID Solutions collaborate to build Malaysia’s first blockchain-powered national digital identity ecosystem, enhancing cybersecurity and driving innovation across the country.
Wall Street ended on a mixed note as Nvidia’s rally lifted the Nasdaq, while economic uncertainty and tariff concerns kept markets on edge.
Revolutionizing Wealth Management with Intelligent, Low-Cost Investment Solutions with BlackRock
America’s financial dominance faces challenges as India and China rise with robust economies, evolving policies, and growing global influence.
Lito Villanueva Chief Innovations and Inclusion Officer and Executive Vice
Bank of America predicts a turbulent phase for Asian currencies, with bearish outlooks on critical currencies like the yuan, won, and baht due to global economic factors.
Salalah Free Zone has inked five new investment deals worth RO44mn, involving investors from Kuwait, Iraq, Jordan, and Hong Kong. The agreements span various sectors, including paper tissues, air conditioning devices, blood sugar test strips, frankincense derivatives, and potash fertilizers.
Cushman & Wakefield (NYSE: CWK) today released the 33rd edition of its Main Streets Across the World report which examines prime retail rental rates in key cities globally.
Asia Pacific (APAC) cities, spearheaded by Tokyo, Beijing, Singapore, Melbourne, and Hong Kong, continue to assert their influence as some of the world’s most connected and prominent urban centers, according to Kearney’s 2023 Global Cities Report. The report reveals that APAC maintains a strong foothold in the top 10 of its Global Cities Index (GCI), claiming five coveted spots.
Bupa Hong Kong is delighted to announce the opening of Alpha Medical Diagnostic Centre in collaboration with its healthcare provision arm, Quality HealthCare Medical Services Limited (QHMS). Located at Pioneer Centre in Mong Kok, this new facility harnesses advanced AI technology to enhance testing and analysis precision and speed, represents a significant milestone in QHMS’ business expansion, providing customers with timely access to healthcare services.
With over 75 years of heritage in the Philippines, AIA Philippines, formerly Philam Life, stands as a paragon of endurance. Evolving in sync with the shifting needs of its patrons, it now encompasses a comprehensive suite of services. Through subsidiaries like BPI AIA, AIA Investment Management, and MediCard Philippines, it aspires to provide protection, savings, and innovative healthcare solutions to the Filipino populace. AIA Philippines’ commitment to nurturing a healthier, longer, and better life for all is the cornerstone of its enduring legacy.
Global markets experienced a sudden downturn fueled by a mix of conflicting economic indicators, triggering apprehensions about potential interest rate hikes by central banks. Asian stock markets, including Hong Kong, Shanghai, Tokyo, and Sydney, faced notable declines as investors grappled with uncertainty. The Philippine Stock Exchange index (PSEi) also witnessed a dip, partly attributed to disappointing second-quarter economic growth figures. The intricacies of this situation were exacerbated by the contrasting data emerging from the United States, particularly around inflation rates. The prevailing market sentiment now hinges on forthcoming data, which could either quell or amplify concerns regarding central banks’ responses to inflation and economic stability.
The Singapore stock market showed resilience in the face of recent volatility, bouncing back on Wednesday with positive sentiment amid global economic optimism. After experiencing a dip in two of the past three trading days, the Straits Times Index (STI) is set to regain momentum, reflecting the upbeat outlook for interest rates.
The Wiki Finance Expo-World, Sydney 2023 The Wiki Finance Expo-World,
Amidst a backdrop of global economic uncertainty, the Philippines has witnessed a notable outflow of speculative funds, totalling $805 million in the first five months of the year. As hot money investments decrease and concerns over inflation and interest rates persist, international investors reevaluate their positions. Despite these challenges, key sectors such as banking, food and beverage, and property continue to attract investments. With the Bangko Sentral ng Pilipinas (BSP) implementing measures to stabilize the economy and inflation, the country’s economic outlook remains cautiously optimistic.
Singapore’s economic slowdown and declining job market have raised concerns among non-resident Indians (NRIs) residing in the city-state. As the country faces challenges such as a contraction in the economy and declining exports, NRIs may find it more challenging to secure employment opportunities. However, amidst these difficulties, there are also opportunities to be found. Sectors like information and communication technologies and financial services continue to show resilience, indicating potential skill-specific job openings. To navigate this changing landscape, NRIs should focus on adapting their skills, networking, and staying updated with industry trends. By doing so, they can position themselves to overcome challenges and contribute meaningfully to Singapore’s economy.
The National Payments Corporation of India (NPCI) is set to revolutionize cross-border remittances with its plans to extend the Unified Payments Interface (UPI) services to Gulf countries. This strategic move aims to simplify transferring funds between bank accounts across borders. With discussions in the early stages, NPCI has garnered significant interest from Gulf nations, showcasing the potential for seamless payment solutions. By leveraging UPI’s capabilities and collaborating with central banks and mission offices, NPCI aims to create a secure and efficient platform for cross-border transactions. As India’s UPI transactions surge, experts predict a milestone of 1 billion transactions per day by 2026-27, positioning UPI as the dominant player in the retail digital payments landscape. This expansion strengthens India’s global presence and highlights its commitment to fostering economic cooperation and financial inclusion in the digital era.
The global markets witnessed as many as 299 Initial Public Offerings (IPOs) raising $21.5 billion in Q1-2023 owing to interest rate rises, a lukewarm stock market, entrenched inflation, and unexpected global banking industry turbulence.
A consortium of Chinese banks have agreed to lend $975 million for the construction and development of the Chancay Multipurpose Port Terminal, located 67 km north of Lima in Peru.
China is all set to build its first hyperloop train line between Shanghai and Hangzhou, according to the nation’s top engineering and rail design institutes.
Tencent Holdings is abandoning plans to venture into virtual reality hardware, as a sobering economic outlook prompts the Chinese tech giant to cut costs and headcount at its metaverse unit, three sources familiar with the matter said.
Country/Region Name of the Winner Category won Africa Golden Africa
India’s Adani group shares sank on Thursday after it abandoned its flagship company’s $2.5 billion stock offering, swelling the conglomerate’s market losses to more than $100 billion and sparking worries about the potential systemic impact.
Swatch Group shares hit their highest level in nearly two-and-a-half years on Tuesday after the world’s biggest watchmaker said it expected a recovery in luxury demand from China.
Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul.
As casinos in Macau begin new licenses to operate in the world’s biggest gambling hub on Jan. 1, the stakes are high on whether they will be able to successfully deliver on a government mandate to diversify away from their cash-cow: gambling.
China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances.
Morgan Stanley plans to slash investment bankers’ annual bonuses by as much as 50% in Asia, said two people with direct knowledge of the matter, as the Wall Street firm reins in costs to tackle tough market conditions that have hit its revenue.
It’s what is known in the markets as a “tail risk”: a highly unlikely scenario in which Hong Kong’s currency peg suddenly snaps. Yet market pricing suggests bets on such a shock are building in the hedge fund world, and some traders say it makes a lot of sense.
Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul.
Shares dipped slightly and the dollar firmed on Thursday, ahead of U.S. inflation data that will influence the Federal Reserve’s rate plans, while the likely collapse of a major digital asset exchange rattled crypto investors.
LONDON, Oct 18 (Reuters) – Shell is among a number of
Goldman Sachs is planning a major reorganization to combine its biggest businesses into three divisions with its storied investment banking and trading businesses being merged into a single unit, a source familiar with the matter told Reuters.
Nominate Yourself Showcase your accomplishments on a global platform with
As the Bank of Japan steps into currency markets for the first time in decades to defend a battered yen, it is running into numerous obstacles, chiefly its own stubborn commitment to ultra-easy monetary settings.
Two months since many Chinese homebuyers stopped repaying mortgages to protest stalled construction on their properties, a lack of progress at more sites now threatens to intensify the boycott, despite assurances from authorities.
Germany’s economy ministry is considering a raft of measures to make business with China less attractive as it seeks to reduce its dependency on Asia’s economic superpower, two people familiar with the matter told Reuters.
Sea Ltd’s (SE.N) e-commerce arm told employees on Thursday it was shutting local operations in Chile, Colombia and Mexico, and leaving Argentina entirely, according to three sources with direct knowledge of the matter and an internal email.
U.S. accounting firms that agree to lead audits of New York-listed Chinese and Hong Kong companies looking to avoid potential trading bans risk breaching U.S. rules, the U.S. Securities and Exchange Commission (SEC) warned on Tuesday.
European stock markets opened in the red on Wednesday after U.S. economic data prompted traders to ramp up Federal Reserve rate hikes bets, pushing the dollar to a 24-year high against the Japanese yen.
Hong Kong’s High Court approved on Monday an application by China Evergrande Group (3333.HK) and its major offshore credit group to adjourn a winding-up petition against it to Nov. 7.
A consortium led by China’s Hollysys Automation Technologies management plans to take the U.S.-listed automation and control system maker private in a deal that would value the firm at $1.8 billion, people with knowledge of the matter said.
There was much relief for investors in U.S.-listed Chinese firms after Beijing and Washington struck a long-pending audit deal, but legal experts and China watchers warn the two sides could still clash over how the accord is interpreted and implemented.
Allianz SE (ALVG.DE) is in talks with Chinese banks to set up a majority-owned asset management venture in the world’s second-largest economy, two people with direct knowledge of the matter said, aiming to tap a $4.3 trillion market for wealth products.
China’s Tencent Holdings (0700.HK) plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan (3690.HK) to placate domestic regulators and monetise an eight-year-old investment, four sources with knowledge of the matter said.
Global fund managers holding U.S.-listed Chinese stocks are steadily shifting towards their Hong Kong-traded peers, even as they remain hopeful Beijing and Washington will eventually resolve an audit dispute to keep Chinese firms on American exchanges.
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the U.S. dollar and cutting the risk of breaching Western sanctions against Moscow.
The list of Chinese companies facing delisting risks in New York in a long-running dispute over Chinese audits of their accounts continues to expand with the addition of three more on Friday after e-commerce giant Alibaba’s (9988.HK) July inclusion.
China’s well-heeled financial dealmakers are getting a crash course in austerity with pay cuts and perks reined in, as their state-owned employers respond to Beijing’s “common prosperity” drive, eight people with knowledge of the matter said.
Even as the crypto sector shivers in the bleak winter, venture capitalists are pouring money into digital currency and blockchain startups at a pace that’s set to outstrip last year’s record.
Alibaba (9988.HK) plans to add a primary listing in Hong Kong to its New York presence, targeting investors in mainland China as it becomes the first big company to take advantage of a rule change in the financial hub to attract high-tech Chinese firms.
China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in the industry, according to a state bank official with direct knowledge of the matter.
The euro held near two-week highs versus the dollar on Wednesday on expectations of a bigger ECB interest rate increase this week than earlier anticipated and a Reuters report that a key Russian gas pipeline would reopen on time after maintenance.
HSBC Holdings Plc (HSBA.L) is set to speed up its exit from non-core markets and deploy additional capital in Asia, in a bid to push back against a breakup proposal put forward by its biggest shareholder, two people with knowledge of the matter said.
World stocks attempted a move higher on Friday after four days of losses caused by mounting fears of economic downturn, even though the growth concerns were fanned further by data showing a sharp slowdown in China.
Alibaba Group (9988.HK) is cutting over a third of staff in its in-house deals team, four people with knowledge of the matter said, after Beijing’s sweeping regulatory crackdown sharply slowed the Chinese e-commerce behemoth’s dealmaking pace.
Barclays (BARC.L) is seeking a Chinese banking partner to set up an asset management joint venture in the country, two people with knowledge of the matter said, as part of British lender’s plans to expand its footprint in the world’s second-largest economy.
China Evergrande Group (3333.HK) is reaching out to its offshore creditors for their support to fight a lawsuit in a Hong Kong court aimed at liquidating the embattled property developer, according to a person with direct knowledge of the matter.
Global stock markets slipped for the second straight day on Wednesday and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession.
Toshiba Corp (6502.T) shareholders voted in two board directors from activist hedge fund investors at its annual general meeting on Tuesday – an inclusion expected to add momentum to its exploration of potential buyout deals.
In 1997, the world watched as Britain returned Hong Kong to Chinese rule, with some pessimistic or wary about the outlook for the city and its role in the global financial system.
Bidders for Toshiba Corp (6502.T) are considering offering up to 7,000 yen ($51.41) per share to take the troubled Japanese conglomerate private, three people familiar with the situation told Reuters, valuing the deal at about $22 billion.
World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S. dollar.
The cryptocurrency industry was on edge on Monday as bitcoin struggled to stay above a key level, with investors fearing that problems at major crypto players could unleash a wider market shakeout.
Asia’s emerging economies are better placed than most other regions to weather a bout of turbo-charged U.S. policy tightening, analysts say, but with a health warning that investors shouldn’t rush in.
The safe haven dollar gained towards fresh two-decade highs versus major rival currencies on Monday, supported by fears over a global economic slowdown and bets on steep interest rate hikes by the U.S. Federal Reserve.
A dearth of IPOs, a plunge in stock prices and slowing global economic growth are clouding the outlook for revenue at global investment banks after pandemic spending by governments and central banks fueled a blockbuster 2021.
China’s Didi is in talks with state-backed Sinomach Automobile (600335.SS) to buy a third of its electric-vehicle unit, two sources said, signalling the ride-hailer’s regulatory troubles are in the rear view mirror as it focuses on growth.
Citigroup Inc (C.N) plans to hire around 3,000 new staff for its Asia institutional business in the next few years, sharpening its focus in a fast-growing region where it has exited consumer banking in most markets, its Asia Pacific chief executive said.
May 26 (Reuters) – Two months into harsh COVID-19 lockdowns
Didi Global may have ensured its survival after winning shareholders’ nod for a U.S. stock delisting but a quick return to growth won’t be easy for the Chinese ride-hailer as it still faces regulatory scrutiny and as COVID-19 has hurt the business.
Uber Technologies Inc (UBER.N) has clinched a deal to integrate its ride-hailing app with Italy’s largest taxi dispatcher as it seeks to boost its presence in the eurozone’s third-largest economy, the company said on Tuesday.
Vacation rental firm Airbnb Inc (ABNB.O) said on Tuesday it will shut down all listings and experiences in mainland China from July 30, joining a long list of Western internet platforms that have opted out of the China market.
Pony Ma, the low-profile founder of tech giant Tencent Holdings, created a social media stir over the weekend by reposting an article on China’s economy, an unusual breaking of silence by a Chinese tech mogul on an increasingly sensitive topic.
China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February.
Elon Musk’s rejection of environmental, social and corporate governance (ESG) scores as a “scam” highlights how Wall Street’s hottest investment trend that encompasses some $35 trillion in assets means different things to different people.
TikTok has been conducting tests so users can play games on its video-sharing app in Vietnam, part of plans for a major push into gaming, four people familiar with the matter said.
State conglomerate China Resources is in early-stage talks with Sihuan Pharmaceutical’s (0460.HK) chairman about jointly taking the Hong Kong-listed company private in a deal valuing it at nearly $3 billion, two people with knowledge of the matter said.
The president of Chinese ride-hailing giant Didi Chuxing and her father, the founder of Lenovo (0992.HK), have ended their public presence on China’s main social media site, the latest Chinese tech leaders to retreat from the spotlight.
Global equity markets were still on the front foot on Thursday on relief that the biggest hike in U.S. interest rates in more than two decades hadn’t been even sharper.
Shares in HSBC Holdings gained on Tuesday after its largest shareholder, Chinese insurance giant Ping An (601318.SS), urged a break-up of the London-headquartered bank in a bid to improve returns.
World stocks rose on Tuesday and U.S. 10-year Treasury yields held above 3% as investors prepared for the Federal Reserve’s biggest rate hike since 2000.
Singapore lenders DBS Group (DBSM.SI) and OCBC (OCBC.SI) gave cautious outlooks on Friday after reporting 10% declines in quarterly profits amid weaker economic growth, though their performances still beat analysts’ estimates.
This month’s dive in China’s currency has revived memories of past routs but market participants say increased foreign holdings of yuan assets mean authorities are much less likely to curb the selling than they were in previous years.
HSBC (HSBA.L) has shelved plans for fresh stock buybacks this year after reporting an unexpected hit to its capital on Tuesday, as a cocktail of rising inflation, geopolitical drama and economic weakness dented its prospects.
Home owners in small Chinese cities are battling a rare property market downdraft as buyers keep away, eroding the wealth of millions in a blow to already brittle consumer confidence in the world’s second-largest economy.
The U.S. dollar index strengthened to 100 for the first time in nearly two years on Friday, supported by the prospect of a more aggressive pace of Federal Reserve interest rate hikes.
The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at U.S. banks, in a move meant to ratchet up pressure on Moscow and eat into its holdings of dollars.
Chinese regulators have asked some of the country’s U.S.-listed firms, including Alibaba, Baidu and JD.com, to prepare for more audit disclosures, sources said, as Beijing steps up efforts to ensure domestic companies remain listed in New York.
BEIJING/HONG KONG, March 22 (Reuters) – China Evergrande Group (3333.HK)plans to
Global stocks clung to their gains for the week on Friday but a heady cocktail of rising interest rates, high oil prices and no end to war in Ukraine kept a lid on the rebound as yields sent a warning signal for the economy.
Wild swings in asset prices following Russia’s invasion of Ukraine are prompting some investors to pare risk in their portfolios, fearing that the type of volatility seen in commodities in recent weeks could hit other markets.
Asian shares extended a global slump on Friday after the fastest U.S. inflation rate in four decades bolstered expectations for more aggressive rate hikes, while Chinese equity markets recovered early losses on regulatory assurance over U.S.-listed mainland firms.
The London Metal Exchange (LME) took emergency measures to halt trading in nickel on Tuesday as prices doubled to more than $100,000 a tonne.
Bitcoin’s been known to freak out when Elon Musk tweets a broken-heart emoji. So why isn’t it flying off the handle as we seem to stand on the precipice of World War 3?
Asian markets rebounded on Friday following Wall Street’s surprising overnight reversal, as investors weighed the longer-term impact of tough Western sanctions against Russia after it
HSBC (HSBA.L) brought forward its key profitability target by a year and more than doubled its annual profit as expected bad loans from the COVID-19 pandemic failed to materialise, and it pointed to rising interest rates lifting its income.
Bitcoin miners are feeling the heat – and the pain’s rippling downstream to pressure prices.
Standard Chartered (STAN.L) has raised its core profitability goals and promised shareholders extra payouts, despite full year profit undershooting expectations, as it banks on inflation-battling rate hikes worldwide to boost lending.
Activist investor Quarz Capital Management said it is opposed to the terms of a proposed S$4.2 billion ($3.1 billion) merger of two Temasek-linked Singapore real estate investment trusts, saying the target firm was significantly undervalued.
After years of struggling to emerge from the shadows of regional rivals, Singapore Exchange is looking to establish itself as the hub for blank-cheque firms, riding on regulatory overhaul, support by state firms, and a tech boom in its back yard.
Country Name of the Company Award Title Nigeria Stanbic IBTC
The China Securities and Regulatory Commission (CSRC) met this week with executives at top western banks and asset managers to reassure them about the country’s economic prospects after regulatory crackdowns in 2021, three sources said on Friday.
Southeast Asian industrial technology buyout fund Novo Tellus Capital Partners listed its special purpose acquisition company (SPAC) in Singapore on Thursday, marking the third such IPO this month as the city-state seeks to become a hub for SPAC listings.
Asian share markets steadied on Wednesday after three sessions of losses as investors awaited any hints about faster tightening of monetary policy from the U.S. Federal Reserve later in the day.
Late last year, Tania Sibree quit her well-paid job as a financial services lawyer in Hong Kong and returned to Australia rather than live a moment longer with the city’s strict coronavirus restrictions.
LONDON, Jan 24 (Reuters) – The dollar rose to a
China is drafting nationwide rules to make it easier for property developers to access funds from sales still held in escrow accounts in its latest move to ease a severe cash crunch in the sector, four people with knowledge of the matter said.
Private equity firm Affinity Equity Partners is this week launching the sale of its Burger King fast-food businesses in South Korea and Japan, in a deal that could fetch more than $1 billion, a person with knowledge of the matter told Reuters.
Credit Suisse will stick to its strategic overhaul despite the abrupt departure of its mastermind Antonio Horta-Osorio following an internal probe into his personal conduct, including breaches of COVID-19 rules, the embattled bank’s new chairman said on Monday.
Hong Kong will soon feel the negative effects of tougher COVID-19 quarantine curbs on air crew, with cargo traffic and the supply of goods into the city set to drop, Chief Executive Carrie Lam said on Wednesday.
Morgan Stanley (MS.N) will raise its annual bonus for top-performing staff on Thursday by more than 20%, people with direct knowledge of the matter said, with a dealmaking boom set to usher in bumper payouts by banks this year.
Cash-strapped property firm China Evergrande Group (3333.HK) has left what has been its headquarters in the city of Shenzhen and relocated to nearby Guangzhou, Chinese media outlet The Paper reported on Monday, citing people familiar with the matter.
JPMorgan Chase & Co (JPM.N) plans to boost its private banking business headcount in Asia by more than 100 this year, two people with direct knowledge of the matter said, joining its peers in a push to grab a bigger share of the region’s wealth.
Banks in Hong Kong including HSBC Holdings Plc (HSBA.L) and UBS Group AG (UBSG.S) are taking steps to reduce the number of people at the workplace after having operated at near full capacity for the past few months, as the city faces a spike in COVID-19 cases.
World shares extended on Tuesday their positive start to 2022 with markets from Europe to Asia shrugging off worries the Omicron coronavirus variant could choke the global economic recovery, while the dollar rose after U.S. bond yields jumped.
JAKARTA, Jan 4 (Reuters) – Indonesia on Tuesday approved a
China said on Tuesday it would put in force new rules that will boost oversight over how its platform companies make plans to list abroad or use recommendation algorithms, in moves set to tighten Beijing’s grip over its sprawling technology sector.
China’s change of leadership in Xinjiang could indicate greater emphasis on economic development in the region, experts said, although its security crackdown targeting minority Muslims is unlikely to see a significant change in direction.
The dollar firmed slightly in early Asian trade on Wednesday as a recent rally in shares showed signs of petering out, but holiday-thinned trading meant markets were showing little real direction.
China’s ride-hailing giant Didi Global (DIDI.N) plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.
Chinese gaming and social media company Tencent (0700.HK) will pay out a $16.4 billion dividend by distributing most of its JD.com (9618.HK) stake, weakening its ties to the e-commerce firm and raising questions about its plans for other holdings.
China’s property sector debt turmoil is set to keep a lid on Asian high-yield corporate bond deals in the first half of next year after a string of defaults by real estate firms left global investors licking their wounds, bankers said.
Dec 20 (Reuters) – Global merger and acquisition (M&A) activity shattered all-time records in 2021, comfortably erasing the high-water mark that was set nearly 15 years ago, as an abundance of capital and sky-high valuations fuelled frenetic levels of dealmaking.
Bonds sold by subsidiaries of Shimao Group Holdings (0813.HK) rose broadly in Shanghai on Friday after a report the Chinese developer plans to repay publicly issued debts due this month, even as ratings agency Moody’s downgraded the company.
Greater China’s flagging initial public offerings (IPOs) are set to get a fillip in 2022 from the expected unveiling of new rules by Beijing for Chinese firms’ offshore listings, giving clarity to jittery investors, investment bankers and analysts said.
MMG Ltd (1208.HK) said on Thursday it would shut production at its Las Bambas copper mine in Peru from Dec. 18 after the Australia-based miner failed to reach an agreement with the Peruvian community blocking a transport road used by the facility.
Chinese artificial intelligence startup SenseTime Group (0020.HK) plans to keep its Hong Kong initial public offering (IPO) at $767 million as it considers re-launching the withdrawn deal as early as Monday, four people with direct knowledge of the matter said.
Chinese authorities are scrutinising the assets of China Evergrande Group (3333.HK) and its wealthy chairman Hui Ka Yan but expect no fire sale for now at the world’s most indebted property developer, two sources with direct knowledge of the matter said.
Uber Technologies Inc (UBER.N) is looking to sell stakes in non-strategic assets including its holding in Beijing-based Didi Global Inc (DIDI.N), its CEO said on Tuesday, who also described the China market as a tough one with little transparency.
Fraser Townley eyes two gaping holes in one side of a pallet one of his workers just pulled out of the orange Hapag-Lloyd shipping container that arrived here at his warehouse from China one recent chilly morning.
Asian shares staged a recovery on Tuesday on receding worries about the impact of the Omicron variant while Chinese markets were supported by the central bank easing monetary policy.
Dec 3 (Reuters) – Ride-hailing giant Didi Global’s (DIDI.N) plan to withdraw from the New York stock exchange may create an even deeper chill after this year’s drop-off in Chinese firms’ listings in the world’s most liquid market, bankers and advisers said.
Chinese artificial intelligence startup SenseTime Group is looking to raise up to $767 million in its Hong Kong initial public offering (IPO), according to a term sheet seen by Reuters.
Alibaba Group Holding Ltd (9988.HK) said it will reorganise its international and domestic e-commerce businesses and replace its CFO – changes that come as the tech giant grapples with an onslaught of competition, a slowing economy and a regulatory crackdown.
After lurching from deadline to deadline, China Evergrande Group (3333.HK) is again on the brink of default, with pessimistic comments from the property developer raising expectations of direct state involvement and a managed debt restructuring.
Bitcoin hovered around $49,000 on Monday, down 1.5% on the day, as traders nursed losses after a brutal weekend in which the price of the world’s largest digital asset at one point lost over one fifth of its value.
Singapore’s digital banks will find it hard to carve out space in the city-state’s saturated market, said Piyush Gupta, the CEO of DBS Group (DBSM.SI), Southeast Asia’s biggest lender.
Ride-hailing giant Didi Global (DIDI.N) said it will delist from the New York stock exchange just five months after its debut and pursue a listing in Hong Kong – having raised the ire of Chinese regulators for ignoring a request to put its U.S. IPO on hold.
Chinese property developer Kaisa Group Holdings Ltd (1638.HK) said on Friday it failed to secure the minimum 95% approval it needed from offshore bondholders to extend the maturity of a $400 million note due next week, raising the risk of a default.
Shares in Japanese conglomerate SoftBank Group Corp (9984.T) dropped over 3% on Friday after the giant tech investor was hit with three disappointments within 24 hours, including a poor Nasdaq debut for ride-hailing firm Grab (GRAB.O).
Australia, despite restrictions on international visitors, became the latest country on Friday to report community transmission of Omicron, a day after the coronavirus variant was found locally in five U.S. states.
Chinese developer Kaisa Group Holdings Ltd (1638.HK) is unlikely to win bondholders’ approval to extend the maturity of a $400 million bond due next week, analysts say, heaping more pressure on other indebted peers.
Asian shares edged higher in choppy trading on Thursday, helped by advances in Chinese real estate shares, though fears about the Omicron variant of the new coronavirus capped gains regionally.
There was a fall in world share markets and scramble to safer currencies and bonds on Tuesday after the CEO of drugmaker Moderna (MRNA.O) warned that COVID-19 vaccines are unlikely to be as effective against the new Omicron variant.
Singapore’s central bank said on Wednesday that it will consider taking “supervisory action” on DBS Group Holdings Ltd (DBSM.SI) after the Singapore bank’s online banking services faced disruption for the second consecutive day.
Currency markets calmed on Monday in Asia after the initial shock of the discovery of the Omicron coronavirus variant sent investors scurrying for cover last week, but analysts warned of more volatility with little still known about the new strain.
Japan said on Monday it would close its borders to foreigners, as the world’s third-largest economy joined Israel in taking the toughest measures against the new coronavirus variant Omicron, which also cast a cloud over Australia’s re-opening plans.
Asian stocks suffered their sharpest drop in two months on
Stocks suffered their sharpest drop in three months in Asia on Friday and oil tumbled after the detection of a new and possibly vaccine-resistant coronavirus variant sent investors scurrying toward the safety of bonds, the yen and the dollar.
A pledge by a leading Honduran presidential candidate to embrace China and de-emphasize Taiwan ties if she wins Sunday’s election has prompted diplomatic jostling between Beijing and Washington as each seeks to exert influence on the Central American nation.
One of Asia’s largest airlines, Cathay Pacific, is facing a revolt from pilots who say Hong Kong’s tough quarantine rules under its zero-COVID policies are endangering their mental health, leading to rising stress and resignations.
DBS Group Holdings Ltd (DBSM.SI), Southeast Asia’s largest bank, faced disruption in its online banking services for the second consecutive day on Wednesday, drawing the ire of customers just hours after announcing a fix after the first day of outage.
Share markets were jittery in early Asia on Wednesday as trading was buffeted by a step-up in U.S. Treasury yields as well as volatile oil prices in the face of price-cooling moves by the United States and other nations.
U.S. government investigators have interviewed workers at Goodyear Tire & Rubber Co’s (GT.O) Malaysian factory about their working conditions, employees told Reuters, intensifying scrutiny of potential labour abuses by the tyre maker in the country.
Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK), slashed its forecast for annual revenue growth on increased competition and a regulatory crackdown, sending its stock tumbling 11%.
Asian shares sat out a global rally on Friday as disappointing earnings from Chinese e-commerce giant Alibaba reinforced worry about slowing growth in the world’s second-largest economy, even as European and U.S. share futures indicated gains.
The dollar reached a four-and-a-half-year high against the yen on Wednesday after better-than-expected U.S. retail data, which also boosted Wall Street equities, although Asian shares failed to follow suit.
After cash-strapped developer China Evergrande Group (3333.HK) once again averted a destabilising default this week, investor focus is shifting to other Chinese developers with offshore payments coming due, especially Kaisa Group (1638.HK).
HSBC Holdings Plc is ahead of its hiring targets for its Chinese retail wealth management business and is exploring re-entering India’s private banking business, senior executives said, as part of its plan to make Asia and wealth key pillars of growth.
This November 5th story corrected business name to BNP Paribas Asset Management, not Wealth Management, in paragraph 9
Some holders of offshore bonds issued by a unit of developer China Evergrande Group (3333.HK) had not received interest payments due on Nov. 6 by Monday morning in Asia, two people familiar with the matter said.
China’s property sector woes could spell trouble for prestige mega-projects in London, New York, Sydney and other top cities as the developers behind them scramble for cash.
Some Chinese property developers have voiced their intention to the regulators to extend their offshore bond maturities or undertake a debt restructuring, two sources with knowledge of the matter said, as a growing number of defaults hits the sector.
Tech shares slipped and short-term Treasury yields jumped on Wednesday as investors expect inflation to prompt interest rate hikes, with a hotter-than-forecast reading in Australia the latest sign of prices pressuring central bankers to act.
The Aussie dollar jumped on Wednesday as surprisingly strong inflation data raised the possibility of sooner-than-planned rate hikes, while the yen was calm as Japan’s central bank is seen retaining its easy monetary policy stance later this week.
Apple, Amazon, Microsoft, Alphabet… and Tesla. We now have a trillion-dollar EV firm whose 10% surge on Monday lifted Wall Street to new record highs — electric vehicles going mainstream is perhaps encouraging news ahead of the COP26 environment summit.
Asian stocks inched higher on Tuesday, as upbeat Wall Street earnings lifted the broader economic outlook though fresh worries about China’s property sector hit Hong Kong and mainland markets.
Modern Land (1107.HK) reported a missed payment on Tuesday, the latest Chinese property developer to do so, adding to worries about spiralling effects of the debt crisis at behemoth China Evergrande Group (3333.HK) and dragging on shares in the sector.
As China’s yuan climbs rapidly to its strongest levels in six years against the currencies of the country’s trading partners, a notable absence of concern and intervention by the authorities is unnerving investors.
HONG KONG, Oct 19 (Reuters) – Asian shares bounced on
China’s long-mooted – and long-resisted – property tax is set to gain new momentum as President Xi Jinping throws his support behind what experts say would be one of the most profound changes to the country’s real estate policies in a generation.
The Evergrande Real Estate Group is regarded as one of
HONG KONG, Oct 7 (Reuters Breakingviews) – What to say
HONG KONG, Sept 28 (Reuters) – Central bank digital currencies
By Lawrence White LONDON, Sept 23 (Reuters) – The crisis at
A massive week in monetary policy, with some 16 central banks holding meetings and possibly the first rate hike from a developed nation — Norway. Not to say others will follow any time soon; the Federal Reserve for instance may strees its own rate rises remain distant. Others such as Switzerland and Japan are likely to stay resolutely dovish.
Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) said on Monday it had lowered its passenger capacity forecast for the remainder of the year to 13% of pre-COVID levels, down from an earlier 30% target for the fourth quarter as travel restrictions linger.
Macau’s government begins a 45-day public consultation on Wednesday to gauge public opinion on changes to its gaming law ahead of the rebidding process of its multi-billion dollar casinos next year.
China Evergrande is teetering between a messy meltdown with far-reaching impacts, a managed collapse or the less likely prospect of a bailout by Beijing for what was once the country’s top-selling property developer.
Deutsche Bank (DBKGn.DE) has regained its Hong Kong Initial Public Offerings (IPOs) sponsors licence after it was suspended in June following the departure of key staff, according to a notice on the website of the city’s markets watchdog.
Central banks in Australia, Singapore, Malaysia and South Africa will conduct a cross border payments trial using different central bank digital currencies (CBDC) to assess if this allows transactions to be settled more cheaply and easily, the banks said on Thursday.
Singapore Exchange is preparing to roll out easier guidelines for listings of special purpose acquisition companies (SPACs) in the city-state, which would make it the first major Asian bourse to accept such investment vehicles, four sources familiar with the matter told Reuters on Wednesday.
Hong Kong’s government is facing growing pressure from business lobby groups to open borders or risk losing executives and investment as it shows no sign of easing one of the world’s strictest quarantine programs.
Chinese state-owned asset manager China Huarong Asset Management (2799.HK) sought on Monday to turn the page on a deep annual loss, as its chairman said it was in talks with potential new strategic investors alongside a CITIC-led consortium.
Asian shares perked up and the dollar fell to two-week lows on Monday after U.S. Federal Reserve Chairman Jerome Powell struck a dovish tone at the central bank’s long-awaited symposium, although investors remained cautious about prospects in China.
Toshiba Corp (6502.T) is in talks with at least four global private equity firms including KKR & Co Inc (KKR.N) and Blackstone Inc (BX.N) to seek their ideas for its new strategy, three sources with knowledge of the matter said.
Binance said on Wednesday it had appointed a former U.S. Treasury criminal investigator as its global money laundering reporting officer, part of an attempt by one of the world’s largest crypto exchanges to reinvent itself as a regulated financial firm.
Asian shares edged off near year-to-date lows on Wednesday despite Wall Street’s overnight declines, while New Zealand’s central bank defied expectations by not raising interest rates as the country is in lockdown due to cases of the COVID-19 Delta variant.
HSBC Holdings (HSBA.L) has agreed to acquire French insurer Axa’s (AXAF.PA) Singapore assets for $575 million, part of its strategy of scaling up its wealth-management business in Asia to boost fee income.
Asian shares failed to follow a strong close on Wall Street with fears about the spread of the Delta variant of the coronavirus weighing on sentiment even as tame U.S. inflation eased fears the Federal Reserve would rush to reduce its economic support.
Autonomous driving startup Pony.ai has put on hold plans to go public in New York through a merger with a blank-check firm at a $12 billion valuation, after it failed to gain assurances from Beijing that it would not become a target of a crackdown against Chinese technology companies, people familiar with the matter said.
Fretting about unprecedented regulatory heat for China’s tech sector, some companies are no longer waiting for any official reprimands that may or may not be forthcoming.
China’s efforts to be seen as a responsible investor abroad
Shares in Krafton Inc (259960.KS), the Tencent Holdings-backed (0700.HK) South Korean company behind blockbuster video game “PlayerUnknown’s Battlegrounds” (PUBG), fell as much as 20% on their trading debut on Tuesday.
Companies should not rely on governments to reach agreement at a global summit on climate change this year, but rather take more action themselves, Standard Chartered (STAN.L) CEO Bill Winters said on Tuesday.
Asian stocks started off on a weak footing on Tuesday after a largely soft performance on Wall Street and as persistent concerns over the spread of the Delta variant of the coronavirus dented sentiment and triggered falls in metals and oil prices.
Risks don’t come much longer term than climate change, so you might expect sovereign wealth funds to be all over it, as investment giants with decades in their sights.
Private equity firms are rethinking their strategies in China as a widening regulatory crackdown on some of the country’s hottest sectors forces investors to scout for bets in other industries that they hope will be less vulnerable to sudden policy changes.
Germany’s Delivery Hero (DHER.DE) has taken a 5.09% stake in online food delivery rival Deliveroo (ROO.L), driving the British company’s share price to its highest since listing on the stock market in March.
NetEase Inc (9999.HK) has delayed the $1 billion Hong Kong initial public offering of its music streaming service Cloud Village because of volatile trading in China’s major tech companies, two people with direct knowledge of the matter said.
S&P Global has downgraded the ratings of heavily indebted developer China Evergrande Group (3333.HK) and its subsidiaries, citing an escalating risk of non-payment of debt, its second downgrade in less than two weeks.
Australia’s record merger-and-acquisition (M&A) boom can only intensify in the near term as ultra-low interest rates and confidence that the economy will rebound from the COVID-19 pandemic are likely to drive deal activity, bankers said.
China’s state media on Thursday said yuan-denominated assets remain attractive and that short-term market panic does not represent long-term value, the latest official effort to shore up investor confidence.
U.S. stocks and the dollar slipped on Wednesday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track.
Asian shares stayed stuck at seven-month lows on Wednesday, as markets continued to digest a storm in Chinese equity markets, while the dollar rested with traders reluctant to place large bets ahead of the outcome of the Federal Reserve meeting.
International investors were feeling bruised and uncertain on Tuesday as a third day of heavy selling hammered China’s top tech stocks and began to seep into currency and debt markets.
Asian equity markets rose cautiously Tuesday, after touching year to date lows the day before, with traders keeping at least half an eye on the United States where major companies report earnings and the Federal Reservemeets on policy this week.
Battered by a regulatory crackdown, China’s multi-billion dollar private tutoring sector could seek to separate its business segments and bulk up non-academic tutoring as it tries to soften the blow on its operations, analysts said on Monday.
Asia’s stock markets fell to fresh troughs on Tuesday led by a third straight session of heavy selling in Chinese internet giants, while bond and currency markets traded on edge ahead of the Federal Reserve policy meeting.
China’s sweeping new rules in private tutoring has left private education firms facing a significant business impact as Beijing steps up regulatory oversight of a $120 billion industry that investors had bet billions of dollars on in recent years.
Cryptocurrencies popped to the top of recent ranges on Monday as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive comments from influential investors might signal a turnaround in fragile sentiment.
Binance, the world’s largest cryptocurrency exchange, said on Monday that it would stop offering cryptocurrency margin trading involving the Australian dollar, euro and sterling.
Shares and bonds of China Evergrande (3333.HK), the country’s most indebted developer, stayed in the red on Tuesday as worries over its financial health persisted even after a local housing authority removed an earlier sales suspension at two real estate projects.
Asian stocks were down early on Tuesday as growing fears the spreading Delta variant of the coronavirus would harm the global economic recovery sent riskier assets, including oil, skidding sharply.
SPIN BOLDAK, Afghanistan, July 16 (Reuters) – Reuters journalist Danish Siddiqui was
Asian shares fell on Wednesday after data showing the biggest jump in U.S. inflation in 13 years fuelled some market expectations that the Federal Reserve could exit pandemic-era stimulus earlier than previously thought.
Smithfield Foods, the world’s largest pork processor, has stopped slaughtering pigs in the United States’ so-called ham capital, where the company was founded 85 years ago.
The U.S. government on Tuesday strengthened its warnings to businesses about the growing risks of having supply chain and investment links to China’s Xinjiang region, citing forced labor and human rights abuses there.
Weibo Corp (WB.O) Chairman Charles Chao and a state investor are in talks to take the Nasdaq-listed Chinese social media company private in a deal that could value it at $20 billion-plus, sources close to the matter told Reuters.
Asian share markets were volatile on Tuesday, after Australia’s central bank flagged some tapering in its quantitative easing programme and concerns over the future of China’s powerful technology sector weighed down shares.
Chinese regulators have gained a reputation for aggressive action, but even hardened investors were shocked by the announcement of a probe into ride-hailing firm Didi (DIDI.N) just two days after its $4.4 billion New York stock market debut.
Asian merger and acquisition activity surged to its second-highest level ever for a first half as Southeast Asian and private-equity deals hit records, and bankers expect the strong momentum to be maintained for the rest of the year.
Asian stock markets made a subdued start to the second half of 2021 on Thursday, weighed by worries about new coronavirus infections and fresh lockdowns, while bond and currency markets were on edge ahead of U.S. labour data.
From working at a foot massage company to setting up China’s biggest ride-hailing firm, Will Wei Cheng has navigated several hurdles on the path to taking Didi Global Inc (DIDI.N) public in a $4.4-billion New York float.
ChemChina is aiming to raise around $10 billion from a Shanghai IPO for Swiss agrichemical giant Syngenta Group, in what is set to be the world’s largest flotation this year, sources with direct knowledge of the matter told Reuters.
Hong Kong media group Next Digital (0282.HK), owned by jailed tycoon Jimmy Lai, will cease operating from July 1 after the company’s assets were frozen as part of a national security investigation, according to an internal memo seen by Reuters.
Chinese smart electric vehicle maker Xpeng Inc said it would raise $1.8 billion to expand its product line-up and develop its technology, by pricing its shares on Wednesday at HK$165 ($21.25) each in a Hong Kong dual primary listing.
TP ICAP (TCAPI.L), the world’s biggest interdealer broker, is launching a cryptocurrency trading platform with Fidelity Investments and Standard Chartered’s digital assets custody unit, the consortium said on Tuesday.
Malaysian conglomerate Sunway Bhd (SWAY.KL) has teamed up with Tencent-backed Chinese fintech firm Linklogis Inc (9959.HK) and Bangkok Bank PCL (BBL.BK) to apply for a Malaysian digital bank licence, two sources with knowledge of the matter said.
China’s biggest ride-sharing firm Didi Global Inc will close the investor order books for its U.S. initial public offering (IPO) to raise up to $4 billion one day early on Monday, two people with direct knowledge of the matter said.
He Shuang, a student at a U.S. university stranded in her home city of Chongqing in southwest China during the pandemic, has added more than 300 domestic brands to her list of favourites on Alibaba’s (9988.HK) Taobao online mall.
Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) expects to reduce its cash burn to less than HK$1 billion ($128.84 million) a month in the second half of the year, its chief financial officer said.
Students from developed East Asia are leading the world in math and science according to just-published results of exams delivered to 600,000
The listing committee of the Hong Kong Stock Exchange has approved Chinese electric vehicle maker Xpeng Inc (XPEV.N) for a dual primary listing in the Asian financial hub, a source with direct knowledge of the matter told Reuters.
Bitcoin stabilised in Asian trading on Tuesday morning a day after a statement from China’s central bank reaffirming the ongoing crackdown on cryptocurrencies in the country sent the world’s largest token to a two-week low.
Global banks are moving faster in Hong Kong to get staff back to office versus in other major centres, given fewer daily COVID-19 cases in the Asian city, and are offering incentives such as onsite vaccinations and days off to encourage inoculation.
Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023.
June 16 (Reuters) – Chickens, cows, paid leave, even a million-dollar apartment, these are the prizes on offer from Thailand to Indonesia to Hong Kong for those who get vaccinated against COVID-19 as nations across Asia combat vaccine hesitancy.
Asian shares rose early on Tuesday, tracking Wall Street higher, though investors looked to a much-anticipated Federal Reserve policy meeting to see if the central bank would signal any change to the U.S. monetary policy outlook.
World stocks climbed another peak on Monday, while U.S. bond yields were near three-month lows as worries of rising inflation abated and investors anticipated the U.S. Federal Reserve sticking to its dovish course this week.
Global shares held firm near record highs on Monday while U.S. bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week.
Authorities in China’s northwestern province of Qinghai and a district in neighbouring Xinjiang ordered cryptocurrency mining projects to close this week, as local governments put into practice Beijing’s call to crack down on the industry.
The United States remains the world’s dominant financial centre, well ahead of nearest rival Britain, whose lead over Frankfurt and Paris so far easily outweighs the hit from Brexit, a study from New Financial think tank said on Thursday.
Global digital currency exchanges are exploring ways to set up in India, following in the footsteps of market leader Binance, industry sources told Reuters, while the government in New Delhi dithers over introducing a law that could ban cryptocurrencies.
Asia stocks reversed early gains on Tuesday, with traders sidelined ahead of U.S. inflation data and a European monetary policy meeting this week while oil prices lost more ground on worries over the fragile state of the global recovery.
Asia stocks opened higher on Tuesday, cruising in the slipstream of a record high overnight gauge of global equity markets, with investors hoping for inflation and monetary policy clues later in a week full of key central bank meetings and data points.
Cathay Pacific Airways Ltd (0293.HK) said on Tuesday that the Hong Kong government had agreed to extend the drawdown period for a HK$7.8 billion ($1.01 billion) loan facility by a year to June 2022, giving it more flexibility to manage liquidity.
Daimler AG’s (DAIGn.DE) main China joint venture with BAIC Motor (1958.HK) plans to add a shift and working days at two Beijing plants that will boost nominal capacity to make Mercedes-Benz cars by 45%, a document on the venture’s Chinese website showed.
Some global banks, funds and other financial services providers say they are stepping up hiring in Hong Kong, in a sign the city’s unique position as a financial gateway to China is outweighing concerns about Beijing’s tightening grip over it.
A Standard Chartered PLC (STAN.L) unit intends to establish a cryptocurrency brokerage and exchange platform in Britain and Europe, targeting institutional clients, the bank said on Wednesday.
Asian shares edged up to near three-month highs on Wednesday and global equities held steady near a record as data showing higher U.S. manufacturing activity in May cheered investors looking for signs of a continued rebound in the world’s largest economy.
A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan.
Here’s what you need to know about the coronavirus right now.
Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) has resumed recuiting pilots with residency rights in the territory as part of medium- to long-term planning, the airline said on Tuesday, despite having much of its fleet parked due to the pandemic.
Asian stock markets rose on Tuesday while gold flirted near five-month highs ahead of European and U.S. data this week that will likely offer clues on the health of the global economy.
Just as past crises triggered international and regional financial cooperation, the pandemic offers an opportunity to collectively improve financial resilience and soundness.
HSBC (HSBA.L) announced it is withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps up a shift in focus to Asia, its biggest market.
Shares in jailed tycoon Jimmy Lai’s Next Digital Ltd (0282.HK) soared on Thursday, the first day of trading after a suspension of longer than a week following a freeze in the pro-democracy activist’s assets under the national security law.
Asian shares rose on Wednesday while the U.S. dollar stood near its lowest levels this year after U.S. Federal Reserve officials reaffirmed a dovish monetary policy stance, providing yet more assurance to investors worried about the inflation outlook.
London Metal Exchange plans to replace its LMEselect trading system with its owner Hong Kong Exchanges and Clearing’s Orion platform, CEO Matt Chamberlain said on Tuesday.
Asian shares advanced on Tuesday, tracking a rally on Wall Street, while the dollar held near a fourth-month low as inflation worries faded after Federal Reserve officials allayed fears about monetary policy tightening.
Cryptocurrencies fought back on Monday, clawing back ground after a bout of weekend selling fuelled by further signs of a gathering Chinese crackdown on the emerging sector.
JD Logistics Inc is set to price its shares at HK$40.36 ($5.20), towards the lower end of its indicated range, to raise $3.16 billion in a Hong Kong initial public offering (IPO), two people with direct knowledge of the matter told Reuters.
Bitcoin regained some lost ground to trade near $40,000 on Thursday, a day aftera brutal selloff on concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world.
Stock markets struggled for traction on Thursday after a jittery session on Wall Street where cryptocurrencies crashed and a hint of tapering talk from the U.S. Federal Reserve drove selling in the bond market and lifted the safe-haven dollar.
Global stocks slipped and cryptocurrencies sank on Wednesday as a threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.
Asian shares rose on Tuesday, shrugging off worries about an
A travel bubble between Hong Kong and Singapore due to
Bitcoin popped back above $50,000 in Asian trade on Thursday,
The U.S Department of Defense will remove China’s Xiaomi Corp (1810.HK) from
Asian shares declined in early trade on Tuesday as Wall Street retreated on worries about accelerating inflation, prompting investors to cut back on their exposure to growth-focused stocks on bets of higher interest rates in the not-too-distant future.
World share indexes stayed near all-time highs on Tuesday and
Cryptocurrency ether broke past $3,000 on Monday to set a
Differences between New Zealand and its top trading partner China
The Covid 19 outburst has reappeared in the scenario. When
The stage fright of walking into the imposing offices of a $607 billion asset manager in the heart of a historic financial district? Pandemic era: a five-day induction on Microsoft Teams.
Hong Kong’s legislature passed on Wednesday a controversial immigration bill,
Measuring purchasing power is an effective way to track economic recovery after the pandemic, estimate the real sizes of economies, and gauge poverty.
China is shoring up ties with autocratic partners like Russia
HONG KONG (Reuters) – Hong Kong authorities said on Thursday that the city’s vaccine scheme would be widened to include those aged between 16 to 29 years old for the first time, as they aim to boost lackluster demand for inoculations in the Asian financial hub.
TOKYO (Reuters) -Global stock markets rose to a record high on Wednesday as bond yields eased after data showed U.S. inflation was not rising wildly as the economy reopens.
SINGAPORE (Reuters) – The dollar advanced slightly on Friday but
The dramatic inside story of the first four historic flights
HONG KONG (Reuters) – China’s top ride-hailing firm Didi Chuxing
AMSTERDAM (Reuters) – Amsterdam-based technology investor Prosus NV has netted
SYDNEY (Reuters) – Asian shares pulled back from a three-week
TOKYO/LONDON/NEW YORK (Reuters) – Bitcoin dropped on Monday, falling from a record high above $60,000 over the weekend, as investors digested a potential ban from India on cryptocurrencies.
TOKYO/LONDON (Reuters) – Bitcoin fell back sharply on Monday after hitting a record high of $61,781.83 over the weekend after U.S. President Joe Biden signed off on his $1.9 trillion fiscal stimulus and ordered an acceleration in vaccinations.
Veteran jewelry industry leader brings more than 25 years of
HONG KONG – Chinese automaker GAC is strengthening its footprint
HONG KONG – Sino Land Company Limited has been ranked
Envision Energy completes its largest offshore syndicated financing in the
Latest Edition Latest Stories Search Search Subscribe To Our News
News M&D Appoints Industry Veteran Tom Rizzi as Chief Executive
Rosewood Foundation honored five young entrepreneurs with HK$100,000 each at the 2025 Entrepreneurship Award, celebrating innovation and sustainability-driven startups.
Collaboration highlights YY Group’s growth, financial performance, and global market
Tron Inc. registers $1 billion in securities with the SEC to build a TRX-focused crypto treasury, signaling a strategic shift into decentralized finance.
Tariffs under Trump’s “America First” policies are weakening U.S. economic dominance, slowing growth, and shifting market momentum toward Europe and China.
MYEG and MyDigital ID Solutions collaborate to build Malaysia’s first blockchain-powered national digital identity ecosystem, enhancing cybersecurity and driving innovation across the country.
Wall Street ended on a mixed note as Nvidia’s rally lifted the Nasdaq, while economic uncertainty and tariff concerns kept markets on edge.
Revolutionizing Wealth Management with Intelligent, Low-Cost Investment Solutions with BlackRock
America’s financial dominance faces challenges as India and China rise with robust economies, evolving policies, and growing global influence.
Lito Villanueva Chief Innovations and Inclusion Officer and Executive Vice
Bank of America predicts a turbulent phase for Asian currencies, with bearish outlooks on critical currencies like the yuan, won, and baht due to global economic factors.
Salalah Free Zone has inked five new investment deals worth RO44mn, involving investors from Kuwait, Iraq, Jordan, and Hong Kong. The agreements span various sectors, including paper tissues, air conditioning devices, blood sugar test strips, frankincense derivatives, and potash fertilizers.
Cushman & Wakefield (NYSE: CWK) today released the 33rd edition of its Main Streets Across the World report which examines prime retail rental rates in key cities globally.
Asia Pacific (APAC) cities, spearheaded by Tokyo, Beijing, Singapore, Melbourne, and Hong Kong, continue to assert their influence as some of the world’s most connected and prominent urban centers, according to Kearney’s 2023 Global Cities Report. The report reveals that APAC maintains a strong foothold in the top 10 of its Global Cities Index (GCI), claiming five coveted spots.
Bupa Hong Kong is delighted to announce the opening of Alpha Medical Diagnostic Centre in collaboration with its healthcare provision arm, Quality HealthCare Medical Services Limited (QHMS). Located at Pioneer Centre in Mong Kok, this new facility harnesses advanced AI technology to enhance testing and analysis precision and speed, represents a significant milestone in QHMS’ business expansion, providing customers with timely access to healthcare services.
With over 75 years of heritage in the Philippines, AIA Philippines, formerly Philam Life, stands as a paragon of endurance. Evolving in sync with the shifting needs of its patrons, it now encompasses a comprehensive suite of services. Through subsidiaries like BPI AIA, AIA Investment Management, and MediCard Philippines, it aspires to provide protection, savings, and innovative healthcare solutions to the Filipino populace. AIA Philippines’ commitment to nurturing a healthier, longer, and better life for all is the cornerstone of its enduring legacy.
Global markets experienced a sudden downturn fueled by a mix of conflicting economic indicators, triggering apprehensions about potential interest rate hikes by central banks. Asian stock markets, including Hong Kong, Shanghai, Tokyo, and Sydney, faced notable declines as investors grappled with uncertainty. The Philippine Stock Exchange index (PSEi) also witnessed a dip, partly attributed to disappointing second-quarter economic growth figures. The intricacies of this situation were exacerbated by the contrasting data emerging from the United States, particularly around inflation rates. The prevailing market sentiment now hinges on forthcoming data, which could either quell or amplify concerns regarding central banks’ responses to inflation and economic stability.
The Singapore stock market showed resilience in the face of recent volatility, bouncing back on Wednesday with positive sentiment amid global economic optimism. After experiencing a dip in two of the past three trading days, the Straits Times Index (STI) is set to regain momentum, reflecting the upbeat outlook for interest rates.
The Wiki Finance Expo-World, Sydney 2023 The Wiki Finance Expo-World,
Amidst a backdrop of global economic uncertainty, the Philippines has witnessed a notable outflow of speculative funds, totalling $805 million in the first five months of the year. As hot money investments decrease and concerns over inflation and interest rates persist, international investors reevaluate their positions. Despite these challenges, key sectors such as banking, food and beverage, and property continue to attract investments. With the Bangko Sentral ng Pilipinas (BSP) implementing measures to stabilize the economy and inflation, the country’s economic outlook remains cautiously optimistic.
Singapore’s economic slowdown and declining job market have raised concerns among non-resident Indians (NRIs) residing in the city-state. As the country faces challenges such as a contraction in the economy and declining exports, NRIs may find it more challenging to secure employment opportunities. However, amidst these difficulties, there are also opportunities to be found. Sectors like information and communication technologies and financial services continue to show resilience, indicating potential skill-specific job openings. To navigate this changing landscape, NRIs should focus on adapting their skills, networking, and staying updated with industry trends. By doing so, they can position themselves to overcome challenges and contribute meaningfully to Singapore’s economy.
The National Payments Corporation of India (NPCI) is set to revolutionize cross-border remittances with its plans to extend the Unified Payments Interface (UPI) services to Gulf countries. This strategic move aims to simplify transferring funds between bank accounts across borders. With discussions in the early stages, NPCI has garnered significant interest from Gulf nations, showcasing the potential for seamless payment solutions. By leveraging UPI’s capabilities and collaborating with central banks and mission offices, NPCI aims to create a secure and efficient platform for cross-border transactions. As India’s UPI transactions surge, experts predict a milestone of 1 billion transactions per day by 2026-27, positioning UPI as the dominant player in the retail digital payments landscape. This expansion strengthens India’s global presence and highlights its commitment to fostering economic cooperation and financial inclusion in the digital era.
The global markets witnessed as many as 299 Initial Public Offerings (IPOs) raising $21.5 billion in Q1-2023 owing to interest rate rises, a lukewarm stock market, entrenched inflation, and unexpected global banking industry turbulence.
A consortium of Chinese banks have agreed to lend $975 million for the construction and development of the Chancay Multipurpose Port Terminal, located 67 km north of Lima in Peru.
China is all set to build its first hyperloop train line between Shanghai and Hangzhou, according to the nation’s top engineering and rail design institutes.
Tencent Holdings is abandoning plans to venture into virtual reality hardware, as a sobering economic outlook prompts the Chinese tech giant to cut costs and headcount at its metaverse unit, three sources familiar with the matter said.
Country/Region Name of the Winner Category won Africa Golden Africa
India’s Adani group shares sank on Thursday after it abandoned its flagship company’s $2.5 billion stock offering, swelling the conglomerate’s market losses to more than $100 billion and sparking worries about the potential systemic impact.
Swatch Group shares hit their highest level in nearly two-and-a-half years on Tuesday after the world’s biggest watchmaker said it expected a recovery in luxury demand from China.
Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul.
As casinos in Macau begin new licenses to operate in the world’s biggest gambling hub on Jan. 1, the stakes are high on whether they will be able to successfully deliver on a government mandate to diversify away from their cash-cow: gambling.
China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances.
Morgan Stanley plans to slash investment bankers’ annual bonuses by as much as 50% in Asia, said two people with direct knowledge of the matter, as the Wall Street firm reins in costs to tackle tough market conditions that have hit its revenue.
It’s what is known in the markets as a “tail risk”: a highly unlikely scenario in which Hong Kong’s currency peg suddenly snaps. Yet market pricing suggests bets on such a shock are building in the hedge fund world, and some traders say it makes a lot of sense.
Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul.
Shares dipped slightly and the dollar firmed on Thursday, ahead of U.S. inflation data that will influence the Federal Reserve’s rate plans, while the likely collapse of a major digital asset exchange rattled crypto investors.
LONDON, Oct 18 (Reuters) – Shell is among a number of
Goldman Sachs is planning a major reorganization to combine its biggest businesses into three divisions with its storied investment banking and trading businesses being merged into a single unit, a source familiar with the matter told Reuters.
Nominate Yourself Showcase your accomplishments on a global platform with
As the Bank of Japan steps into currency markets for the first time in decades to defend a battered yen, it is running into numerous obstacles, chiefly its own stubborn commitment to ultra-easy monetary settings.
Two months since many Chinese homebuyers stopped repaying mortgages to protest stalled construction on their properties, a lack of progress at more sites now threatens to intensify the boycott, despite assurances from authorities.
Germany’s economy ministry is considering a raft of measures to make business with China less attractive as it seeks to reduce its dependency on Asia’s economic superpower, two people familiar with the matter told Reuters.
Sea Ltd’s (SE.N) e-commerce arm told employees on Thursday it was shutting local operations in Chile, Colombia and Mexico, and leaving Argentina entirely, according to three sources with direct knowledge of the matter and an internal email.
U.S. accounting firms that agree to lead audits of New York-listed Chinese and Hong Kong companies looking to avoid potential trading bans risk breaching U.S. rules, the U.S. Securities and Exchange Commission (SEC) warned on Tuesday.
European stock markets opened in the red on Wednesday after U.S. economic data prompted traders to ramp up Federal Reserve rate hikes bets, pushing the dollar to a 24-year high against the Japanese yen.
Hong Kong’s High Court approved on Monday an application by China Evergrande Group (3333.HK) and its major offshore credit group to adjourn a winding-up petition against it to Nov. 7.
A consortium led by China’s Hollysys Automation Technologies management plans to take the U.S.-listed automation and control system maker private in a deal that would value the firm at $1.8 billion, people with knowledge of the matter said.
There was much relief for investors in U.S.-listed Chinese firms after Beijing and Washington struck a long-pending audit deal, but legal experts and China watchers warn the two sides could still clash over how the accord is interpreted and implemented.
Allianz SE (ALVG.DE) is in talks with Chinese banks to set up a majority-owned asset management venture in the world’s second-largest economy, two people with direct knowledge of the matter said, aiming to tap a $4.3 trillion market for wealth products.
China’s Tencent Holdings (0700.HK) plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan (3690.HK) to placate domestic regulators and monetise an eight-year-old investment, four sources with knowledge of the matter said.
Global fund managers holding U.S.-listed Chinese stocks are steadily shifting towards their Hong Kong-traded peers, even as they remain hopeful Beijing and Washington will eventually resolve an audit dispute to keep Chinese firms on American exchanges.
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the U.S. dollar and cutting the risk of breaching Western sanctions against Moscow.
The list of Chinese companies facing delisting risks in New York in a long-running dispute over Chinese audits of their accounts continues to expand with the addition of three more on Friday after e-commerce giant Alibaba’s (9988.HK) July inclusion.
China’s well-heeled financial dealmakers are getting a crash course in austerity with pay cuts and perks reined in, as their state-owned employers respond to Beijing’s “common prosperity” drive, eight people with knowledge of the matter said.
Even as the crypto sector shivers in the bleak winter, venture capitalists are pouring money into digital currency and blockchain startups at a pace that’s set to outstrip last year’s record.
Alibaba (9988.HK) plans to add a primary listing in Hong Kong to its New York presence, targeting investors in mainland China as it becomes the first big company to take advantage of a rule change in the financial hub to attract high-tech Chinese firms.
China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in the industry, according to a state bank official with direct knowledge of the matter.
The euro held near two-week highs versus the dollar on Wednesday on expectations of a bigger ECB interest rate increase this week than earlier anticipated and a Reuters report that a key Russian gas pipeline would reopen on time after maintenance.
HSBC Holdings Plc (HSBA.L) is set to speed up its exit from non-core markets and deploy additional capital in Asia, in a bid to push back against a breakup proposal put forward by its biggest shareholder, two people with knowledge of the matter said.
World stocks attempted a move higher on Friday after four days of losses caused by mounting fears of economic downturn, even though the growth concerns were fanned further by data showing a sharp slowdown in China.
Alibaba Group (9988.HK) is cutting over a third of staff in its in-house deals team, four people with knowledge of the matter said, after Beijing’s sweeping regulatory crackdown sharply slowed the Chinese e-commerce behemoth’s dealmaking pace.
Barclays (BARC.L) is seeking a Chinese banking partner to set up an asset management joint venture in the country, two people with knowledge of the matter said, as part of British lender’s plans to expand its footprint in the world’s second-largest economy.
China Evergrande Group (3333.HK) is reaching out to its offshore creditors for their support to fight a lawsuit in a Hong Kong court aimed at liquidating the embattled property developer, according to a person with direct knowledge of the matter.
Global stock markets slipped for the second straight day on Wednesday and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession.
Toshiba Corp (6502.T) shareholders voted in two board directors from activist hedge fund investors at its annual general meeting on Tuesday – an inclusion expected to add momentum to its exploration of potential buyout deals.
In 1997, the world watched as Britain returned Hong Kong to Chinese rule, with some pessimistic or wary about the outlook for the city and its role in the global financial system.
Bidders for Toshiba Corp (6502.T) are considering offering up to 7,000 yen ($51.41) per share to take the troubled Japanese conglomerate private, three people familiar with the situation told Reuters, valuing the deal at about $22 billion.
World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S. dollar.
The cryptocurrency industry was on edge on Monday as bitcoin struggled to stay above a key level, with investors fearing that problems at major crypto players could unleash a wider market shakeout.
Asia’s emerging economies are better placed than most other regions to weather a bout of turbo-charged U.S. policy tightening, analysts say, but with a health warning that investors shouldn’t rush in.
The safe haven dollar gained towards fresh two-decade highs versus major rival currencies on Monday, supported by fears over a global economic slowdown and bets on steep interest rate hikes by the U.S. Federal Reserve.
A dearth of IPOs, a plunge in stock prices and slowing global economic growth are clouding the outlook for revenue at global investment banks after pandemic spending by governments and central banks fueled a blockbuster 2021.
China’s Didi is in talks with state-backed Sinomach Automobile (600335.SS) to buy a third of its electric-vehicle unit, two sources said, signalling the ride-hailer’s regulatory troubles are in the rear view mirror as it focuses on growth.
Citigroup Inc (C.N) plans to hire around 3,000 new staff for its Asia institutional business in the next few years, sharpening its focus in a fast-growing region where it has exited consumer banking in most markets, its Asia Pacific chief executive said.
May 26 (Reuters) – Two months into harsh COVID-19 lockdowns
Didi Global may have ensured its survival after winning shareholders’ nod for a U.S. stock delisting but a quick return to growth won’t be easy for the Chinese ride-hailer as it still faces regulatory scrutiny and as COVID-19 has hurt the business.
Uber Technologies Inc (UBER.N) has clinched a deal to integrate its ride-hailing app with Italy’s largest taxi dispatcher as it seeks to boost its presence in the eurozone’s third-largest economy, the company said on Tuesday.
Vacation rental firm Airbnb Inc (ABNB.O) said on Tuesday it will shut down all listings and experiences in mainland China from July 30, joining a long list of Western internet platforms that have opted out of the China market.
Pony Ma, the low-profile founder of tech giant Tencent Holdings, created a social media stir over the weekend by reposting an article on China’s economy, an unusual breaking of silence by a Chinese tech mogul on an increasingly sensitive topic.
China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February.
Elon Musk’s rejection of environmental, social and corporate governance (ESG) scores as a “scam” highlights how Wall Street’s hottest investment trend that encompasses some $35 trillion in assets means different things to different people.
TikTok has been conducting tests so users can play games on its video-sharing app in Vietnam, part of plans for a major push into gaming, four people familiar with the matter said.
State conglomerate China Resources is in early-stage talks with Sihuan Pharmaceutical’s (0460.HK) chairman about jointly taking the Hong Kong-listed company private in a deal valuing it at nearly $3 billion, two people with knowledge of the matter said.
The president of Chinese ride-hailing giant Didi Chuxing and her father, the founder of Lenovo (0992.HK), have ended their public presence on China’s main social media site, the latest Chinese tech leaders to retreat from the spotlight.
Global equity markets were still on the front foot on Thursday on relief that the biggest hike in U.S. interest rates in more than two decades hadn’t been even sharper.
Shares in HSBC Holdings gained on Tuesday after its largest shareholder, Chinese insurance giant Ping An (601318.SS), urged a break-up of the London-headquartered bank in a bid to improve returns.
World stocks rose on Tuesday and U.S. 10-year Treasury yields held above 3% as investors prepared for the Federal Reserve’s biggest rate hike since 2000.
Singapore lenders DBS Group (DBSM.SI) and OCBC (OCBC.SI) gave cautious outlooks on Friday after reporting 10% declines in quarterly profits amid weaker economic growth, though their performances still beat analysts’ estimates.
This month’s dive in China’s currency has revived memories of past routs but market participants say increased foreign holdings of yuan assets mean authorities are much less likely to curb the selling than they were in previous years.
HSBC (HSBA.L) has shelved plans for fresh stock buybacks this year after reporting an unexpected hit to its capital on Tuesday, as a cocktail of rising inflation, geopolitical drama and economic weakness dented its prospects.
Home owners in small Chinese cities are battling a rare property market downdraft as buyers keep away, eroding the wealth of millions in a blow to already brittle consumer confidence in the world’s second-largest economy.
The U.S. dollar index strengthened to 100 for the first time in nearly two years on Friday, supported by the prospect of a more aggressive pace of Federal Reserve interest rate hikes.
The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at U.S. banks, in a move meant to ratchet up pressure on Moscow and eat into its holdings of dollars.
Chinese regulators have asked some of the country’s U.S.-listed firms, including Alibaba, Baidu and JD.com, to prepare for more audit disclosures, sources said, as Beijing steps up efforts to ensure domestic companies remain listed in New York.
BEIJING/HONG KONG, March 22 (Reuters) – China Evergrande Group (3333.HK)plans to
Global stocks clung to their gains for the week on Friday but a heady cocktail of rising interest rates, high oil prices and no end to war in Ukraine kept a lid on the rebound as yields sent a warning signal for the economy.
Wild swings in asset prices following Russia’s invasion of Ukraine are prompting some investors to pare risk in their portfolios, fearing that the type of volatility seen in commodities in recent weeks could hit other markets.
Asian shares extended a global slump on Friday after the fastest U.S. inflation rate in four decades bolstered expectations for more aggressive rate hikes, while Chinese equity markets recovered early losses on regulatory assurance over U.S.-listed mainland firms.
The London Metal Exchange (LME) took emergency measures to halt trading in nickel on Tuesday as prices doubled to more than $100,000 a tonne.
Bitcoin’s been known to freak out when Elon Musk tweets a broken-heart emoji. So why isn’t it flying off the handle as we seem to stand on the precipice of World War 3?
Asian markets rebounded on Friday following Wall Street’s surprising overnight reversal, as investors weighed the longer-term impact of tough Western sanctions against Russia after it
HSBC (HSBA.L) brought forward its key profitability target by a year and more than doubled its annual profit as expected bad loans from the COVID-19 pandemic failed to materialise, and it pointed to rising interest rates lifting its income.
Bitcoin miners are feeling the heat – and the pain’s rippling downstream to pressure prices.
Standard Chartered (STAN.L) has raised its core profitability goals and promised shareholders extra payouts, despite full year profit undershooting expectations, as it banks on inflation-battling rate hikes worldwide to boost lending.
Activist investor Quarz Capital Management said it is opposed to the terms of a proposed S$4.2 billion ($3.1 billion) merger of two Temasek-linked Singapore real estate investment trusts, saying the target firm was significantly undervalued.
After years of struggling to emerge from the shadows of regional rivals, Singapore Exchange is looking to establish itself as the hub for blank-cheque firms, riding on regulatory overhaul, support by state firms, and a tech boom in its back yard.
Country Name of the Company Award Title Nigeria Stanbic IBTC
The China Securities and Regulatory Commission (CSRC) met this week with executives at top western banks and asset managers to reassure them about the country’s economic prospects after regulatory crackdowns in 2021, three sources said on Friday.
Southeast Asian industrial technology buyout fund Novo Tellus Capital Partners listed its special purpose acquisition company (SPAC) in Singapore on Thursday, marking the third such IPO this month as the city-state seeks to become a hub for SPAC listings.
Asian share markets steadied on Wednesday after three sessions of losses as investors awaited any hints about faster tightening of monetary policy from the U.S. Federal Reserve later in the day.
Late last year, Tania Sibree quit her well-paid job as a financial services lawyer in Hong Kong and returned to Australia rather than live a moment longer with the city’s strict coronavirus restrictions.
LONDON, Jan 24 (Reuters) – The dollar rose to a
China is drafting nationwide rules to make it easier for property developers to access funds from sales still held in escrow accounts in its latest move to ease a severe cash crunch in the sector, four people with knowledge of the matter said.
Private equity firm Affinity Equity Partners is this week launching the sale of its Burger King fast-food businesses in South Korea and Japan, in a deal that could fetch more than $1 billion, a person with knowledge of the matter told Reuters.
Credit Suisse will stick to its strategic overhaul despite the abrupt departure of its mastermind Antonio Horta-Osorio following an internal probe into his personal conduct, including breaches of COVID-19 rules, the embattled bank’s new chairman said on Monday.
Hong Kong will soon feel the negative effects of tougher COVID-19 quarantine curbs on air crew, with cargo traffic and the supply of goods into the city set to drop, Chief Executive Carrie Lam said on Wednesday.
Morgan Stanley (MS.N) will raise its annual bonus for top-performing staff on Thursday by more than 20%, people with direct knowledge of the matter said, with a dealmaking boom set to usher in bumper payouts by banks this year.
Cash-strapped property firm China Evergrande Group (3333.HK) has left what has been its headquarters in the city of Shenzhen and relocated to nearby Guangzhou, Chinese media outlet The Paper reported on Monday, citing people familiar with the matter.
JPMorgan Chase & Co (JPM.N) plans to boost its private banking business headcount in Asia by more than 100 this year, two people with direct knowledge of the matter said, joining its peers in a push to grab a bigger share of the region’s wealth.
Banks in Hong Kong including HSBC Holdings Plc (HSBA.L) and UBS Group AG (UBSG.S) are taking steps to reduce the number of people at the workplace after having operated at near full capacity for the past few months, as the city faces a spike in COVID-19 cases.
World shares extended on Tuesday their positive start to 2022 with markets from Europe to Asia shrugging off worries the Omicron coronavirus variant could choke the global economic recovery, while the dollar rose after U.S. bond yields jumped.
JAKARTA, Jan 4 (Reuters) – Indonesia on Tuesday approved a
China said on Tuesday it would put in force new rules that will boost oversight over how its platform companies make plans to list abroad or use recommendation algorithms, in moves set to tighten Beijing’s grip over its sprawling technology sector.
China’s change of leadership in Xinjiang could indicate greater emphasis on economic development in the region, experts said, although its security crackdown targeting minority Muslims is unlikely to see a significant change in direction.
The dollar firmed slightly in early Asian trade on Wednesday as a recent rally in shares showed signs of petering out, but holiday-thinned trading meant markets were showing little real direction.
China’s ride-hailing giant Didi Global (DIDI.N) plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.
Chinese gaming and social media company Tencent (0700.HK) will pay out a $16.4 billion dividend by distributing most of its JD.com (9618.HK) stake, weakening its ties to the e-commerce firm and raising questions about its plans for other holdings.
China’s property sector debt turmoil is set to keep a lid on Asian high-yield corporate bond deals in the first half of next year after a string of defaults by real estate firms left global investors licking their wounds, bankers said.
Dec 20 (Reuters) – Global merger and acquisition (M&A) activity shattered all-time records in 2021, comfortably erasing the high-water mark that was set nearly 15 years ago, as an abundance of capital and sky-high valuations fuelled frenetic levels of dealmaking.
Bonds sold by subsidiaries of Shimao Group Holdings (0813.HK) rose broadly in Shanghai on Friday after a report the Chinese developer plans to repay publicly issued debts due this month, even as ratings agency Moody’s downgraded the company.
Greater China’s flagging initial public offerings (IPOs) are set to get a fillip in 2022 from the expected unveiling of new rules by Beijing for Chinese firms’ offshore listings, giving clarity to jittery investors, investment bankers and analysts said.
MMG Ltd (1208.HK) said on Thursday it would shut production at its Las Bambas copper mine in Peru from Dec. 18 after the Australia-based miner failed to reach an agreement with the Peruvian community blocking a transport road used by the facility.
Chinese artificial intelligence startup SenseTime Group (0020.HK) plans to keep its Hong Kong initial public offering (IPO) at $767 million as it considers re-launching the withdrawn deal as early as Monday, four people with direct knowledge of the matter said.
Chinese authorities are scrutinising the assets of China Evergrande Group (3333.HK) and its wealthy chairman Hui Ka Yan but expect no fire sale for now at the world’s most indebted property developer, two sources with direct knowledge of the matter said.
Uber Technologies Inc (UBER.N) is looking to sell stakes in non-strategic assets including its holding in Beijing-based Didi Global Inc (DIDI.N), its CEO said on Tuesday, who also described the China market as a tough one with little transparency.
Fraser Townley eyes two gaping holes in one side of a pallet one of his workers just pulled out of the orange Hapag-Lloyd shipping container that arrived here at his warehouse from China one recent chilly morning.
Asian shares staged a recovery on Tuesday on receding worries about the impact of the Omicron variant while Chinese markets were supported by the central bank easing monetary policy.
Dec 3 (Reuters) – Ride-hailing giant Didi Global’s (DIDI.N) plan to withdraw from the New York stock exchange may create an even deeper chill after this year’s drop-off in Chinese firms’ listings in the world’s most liquid market, bankers and advisers said.
Chinese artificial intelligence startup SenseTime Group is looking to raise up to $767 million in its Hong Kong initial public offering (IPO), according to a term sheet seen by Reuters.
Alibaba Group Holding Ltd (9988.HK) said it will reorganise its international and domestic e-commerce businesses and replace its CFO – changes that come as the tech giant grapples with an onslaught of competition, a slowing economy and a regulatory crackdown.
After lurching from deadline to deadline, China Evergrande Group (3333.HK) is again on the brink of default, with pessimistic comments from the property developer raising expectations of direct state involvement and a managed debt restructuring.
Bitcoin hovered around $49,000 on Monday, down 1.5% on the day, as traders nursed losses after a brutal weekend in which the price of the world’s largest digital asset at one point lost over one fifth of its value.
Singapore’s digital banks will find it hard to carve out space in the city-state’s saturated market, said Piyush Gupta, the CEO of DBS Group (DBSM.SI), Southeast Asia’s biggest lender.
Ride-hailing giant Didi Global (DIDI.N) said it will delist from the New York stock exchange just five months after its debut and pursue a listing in Hong Kong – having raised the ire of Chinese regulators for ignoring a request to put its U.S. IPO on hold.
Chinese property developer Kaisa Group Holdings Ltd (1638.HK) said on Friday it failed to secure the minimum 95% approval it needed from offshore bondholders to extend the maturity of a $400 million note due next week, raising the risk of a default.
Shares in Japanese conglomerate SoftBank Group Corp (9984.T) dropped over 3% on Friday after the giant tech investor was hit with three disappointments within 24 hours, including a poor Nasdaq debut for ride-hailing firm Grab (GRAB.O).
Australia, despite restrictions on international visitors, became the latest country on Friday to report community transmission of Omicron, a day after the coronavirus variant was found locally in five U.S. states.
Chinese developer Kaisa Group Holdings Ltd (1638.HK) is unlikely to win bondholders’ approval to extend the maturity of a $400 million bond due next week, analysts say, heaping more pressure on other indebted peers.
Asian shares edged higher in choppy trading on Thursday, helped by advances in Chinese real estate shares, though fears about the Omicron variant of the new coronavirus capped gains regionally.
There was a fall in world share markets and scramble to safer currencies and bonds on Tuesday after the CEO of drugmaker Moderna (MRNA.O) warned that COVID-19 vaccines are unlikely to be as effective against the new Omicron variant.
Singapore’s central bank said on Wednesday that it will consider taking “supervisory action” on DBS Group Holdings Ltd (DBSM.SI) after the Singapore bank’s online banking services faced disruption for the second consecutive day.
Currency markets calmed on Monday in Asia after the initial shock of the discovery of the Omicron coronavirus variant sent investors scurrying for cover last week, but analysts warned of more volatility with little still known about the new strain.
Japan said on Monday it would close its borders to foreigners, as the world’s third-largest economy joined Israel in taking the toughest measures against the new coronavirus variant Omicron, which also cast a cloud over Australia’s re-opening plans.
Asian stocks suffered their sharpest drop in two months on
Stocks suffered their sharpest drop in three months in Asia on Friday and oil tumbled after the detection of a new and possibly vaccine-resistant coronavirus variant sent investors scurrying toward the safety of bonds, the yen and the dollar.
A pledge by a leading Honduran presidential candidate to embrace China and de-emphasize Taiwan ties if she wins Sunday’s election has prompted diplomatic jostling between Beijing and Washington as each seeks to exert influence on the Central American nation.
One of Asia’s largest airlines, Cathay Pacific, is facing a revolt from pilots who say Hong Kong’s tough quarantine rules under its zero-COVID policies are endangering their mental health, leading to rising stress and resignations.
DBS Group Holdings Ltd (DBSM.SI), Southeast Asia’s largest bank, faced disruption in its online banking services for the second consecutive day on Wednesday, drawing the ire of customers just hours after announcing a fix after the first day of outage.
Share markets were jittery in early Asia on Wednesday as trading was buffeted by a step-up in U.S. Treasury yields as well as volatile oil prices in the face of price-cooling moves by the United States and other nations.
U.S. government investigators have interviewed workers at Goodyear Tire & Rubber Co’s (GT.O) Malaysian factory about their working conditions, employees told Reuters, intensifying scrutiny of potential labour abuses by the tyre maker in the country.
Chinese e-commerce giant Alibaba Group Holding Ltd (9988.HK), slashed its forecast for annual revenue growth on increased competition and a regulatory crackdown, sending its stock tumbling 11%.
Asian shares sat out a global rally on Friday as disappointing earnings from Chinese e-commerce giant Alibaba reinforced worry about slowing growth in the world’s second-largest economy, even as European and U.S. share futures indicated gains.
The dollar reached a four-and-a-half-year high against the yen on Wednesday after better-than-expected U.S. retail data, which also boosted Wall Street equities, although Asian shares failed to follow suit.
After cash-strapped developer China Evergrande Group (3333.HK) once again averted a destabilising default this week, investor focus is shifting to other Chinese developers with offshore payments coming due, especially Kaisa Group (1638.HK).
HSBC Holdings Plc is ahead of its hiring targets for its Chinese retail wealth management business and is exploring re-entering India’s private banking business, senior executives said, as part of its plan to make Asia and wealth key pillars of growth.
This November 5th story corrected business name to BNP Paribas Asset Management, not Wealth Management, in paragraph 9
Some holders of offshore bonds issued by a unit of developer China Evergrande Group (3333.HK) had not received interest payments due on Nov. 6 by Monday morning in Asia, two people familiar with the matter said.
China’s property sector woes could spell trouble for prestige mega-projects in London, New York, Sydney and other top cities as the developers behind them scramble for cash.
Some Chinese property developers have voiced their intention to the regulators to extend their offshore bond maturities or undertake a debt restructuring, two sources with knowledge of the matter said, as a growing number of defaults hits the sector.
Tech shares slipped and short-term Treasury yields jumped on Wednesday as investors expect inflation to prompt interest rate hikes, with a hotter-than-forecast reading in Australia the latest sign of prices pressuring central bankers to act.
The Aussie dollar jumped on Wednesday as surprisingly strong inflation data raised the possibility of sooner-than-planned rate hikes, while the yen was calm as Japan’s central bank is seen retaining its easy monetary policy stance later this week.
Apple, Amazon, Microsoft, Alphabet… and Tesla. We now have a trillion-dollar EV firm whose 10% surge on Monday lifted Wall Street to new record highs — electric vehicles going mainstream is perhaps encouraging news ahead of the COP26 environment summit.
Asian stocks inched higher on Tuesday, as upbeat Wall Street earnings lifted the broader economic outlook though fresh worries about China’s property sector hit Hong Kong and mainland markets.
Modern Land (1107.HK) reported a missed payment on Tuesday, the latest Chinese property developer to do so, adding to worries about spiralling effects of the debt crisis at behemoth China Evergrande Group (3333.HK) and dragging on shares in the sector.
As China’s yuan climbs rapidly to its strongest levels in six years against the currencies of the country’s trading partners, a notable absence of concern and intervention by the authorities is unnerving investors.
HONG KONG, Oct 19 (Reuters) – Asian shares bounced on
China’s long-mooted – and long-resisted – property tax is set to gain new momentum as President Xi Jinping throws his support behind what experts say would be one of the most profound changes to the country’s real estate policies in a generation.
The Evergrande Real Estate Group is regarded as one of
HONG KONG, Oct 7 (Reuters Breakingviews) – What to say
HONG KONG, Sept 28 (Reuters) – Central bank digital currencies
By Lawrence White LONDON, Sept 23 (Reuters) – The crisis at
A massive week in monetary policy, with some 16 central banks holding meetings and possibly the first rate hike from a developed nation — Norway. Not to say others will follow any time soon; the Federal Reserve for instance may strees its own rate rises remain distant. Others such as Switzerland and Japan are likely to stay resolutely dovish.
Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) said on Monday it had lowered its passenger capacity forecast for the remainder of the year to 13% of pre-COVID levels, down from an earlier 30% target for the fourth quarter as travel restrictions linger.
Macau’s government begins a 45-day public consultation on Wednesday to gauge public opinion on changes to its gaming law ahead of the rebidding process of its multi-billion dollar casinos next year.
China Evergrande is teetering between a messy meltdown with far-reaching impacts, a managed collapse or the less likely prospect of a bailout by Beijing for what was once the country’s top-selling property developer.
Deutsche Bank (DBKGn.DE) has regained its Hong Kong Initial Public Offerings (IPOs) sponsors licence after it was suspended in June following the departure of key staff, according to a notice on the website of the city’s markets watchdog.
Central banks in Australia, Singapore, Malaysia and South Africa will conduct a cross border payments trial using different central bank digital currencies (CBDC) to assess if this allows transactions to be settled more cheaply and easily, the banks said on Thursday.
Singapore Exchange is preparing to roll out easier guidelines for listings of special purpose acquisition companies (SPACs) in the city-state, which would make it the first major Asian bourse to accept such investment vehicles, four sources familiar with the matter told Reuters on Wednesday.
Hong Kong’s government is facing growing pressure from business lobby groups to open borders or risk losing executives and investment as it shows no sign of easing one of the world’s strictest quarantine programs.
Chinese state-owned asset manager China Huarong Asset Management (2799.HK) sought on Monday to turn the page on a deep annual loss, as its chairman said it was in talks with potential new strategic investors alongside a CITIC-led consortium.
Asian shares perked up and the dollar fell to two-week lows on Monday after U.S. Federal Reserve Chairman Jerome Powell struck a dovish tone at the central bank’s long-awaited symposium, although investors remained cautious about prospects in China.
Toshiba Corp (6502.T) is in talks with at least four global private equity firms including KKR & Co Inc (KKR.N) and Blackstone Inc (BX.N) to seek their ideas for its new strategy, three sources with knowledge of the matter said.
Binance said on Wednesday it had appointed a former U.S. Treasury criminal investigator as its global money laundering reporting officer, part of an attempt by one of the world’s largest crypto exchanges to reinvent itself as a regulated financial firm.
Asian shares edged off near year-to-date lows on Wednesday despite Wall Street’s overnight declines, while New Zealand’s central bank defied expectations by not raising interest rates as the country is in lockdown due to cases of the COVID-19 Delta variant.
HSBC Holdings (HSBA.L) has agreed to acquire French insurer Axa’s (AXAF.PA) Singapore assets for $575 million, part of its strategy of scaling up its wealth-management business in Asia to boost fee income.
Asian shares failed to follow a strong close on Wall Street with fears about the spread of the Delta variant of the coronavirus weighing on sentiment even as tame U.S. inflation eased fears the Federal Reserve would rush to reduce its economic support.
Autonomous driving startup Pony.ai has put on hold plans to go public in New York through a merger with a blank-check firm at a $12 billion valuation, after it failed to gain assurances from Beijing that it would not become a target of a crackdown against Chinese technology companies, people familiar with the matter said.
Fretting about unprecedented regulatory heat for China’s tech sector, some companies are no longer waiting for any official reprimands that may or may not be forthcoming.
China’s efforts to be seen as a responsible investor abroad
Shares in Krafton Inc (259960.KS), the Tencent Holdings-backed (0700.HK) South Korean company behind blockbuster video game “PlayerUnknown’s Battlegrounds” (PUBG), fell as much as 20% on their trading debut on Tuesday.
Companies should not rely on governments to reach agreement at a global summit on climate change this year, but rather take more action themselves, Standard Chartered (STAN.L) CEO Bill Winters said on Tuesday.
Asian stocks started off on a weak footing on Tuesday after a largely soft performance on Wall Street and as persistent concerns over the spread of the Delta variant of the coronavirus dented sentiment and triggered falls in metals and oil prices.
Risks don’t come much longer term than climate change, so you might expect sovereign wealth funds to be all over it, as investment giants with decades in their sights.
Private equity firms are rethinking their strategies in China as a widening regulatory crackdown on some of the country’s hottest sectors forces investors to scout for bets in other industries that they hope will be less vulnerable to sudden policy changes.
Germany’s Delivery Hero (DHER.DE) has taken a 5.09% stake in online food delivery rival Deliveroo (ROO.L), driving the British company’s share price to its highest since listing on the stock market in March.
NetEase Inc (9999.HK) has delayed the $1 billion Hong Kong initial public offering of its music streaming service Cloud Village because of volatile trading in China’s major tech companies, two people with direct knowledge of the matter said.
S&P Global has downgraded the ratings of heavily indebted developer China Evergrande Group (3333.HK) and its subsidiaries, citing an escalating risk of non-payment of debt, its second downgrade in less than two weeks.
Australia’s record merger-and-acquisition (M&A) boom can only intensify in the near term as ultra-low interest rates and confidence that the economy will rebound from the COVID-19 pandemic are likely to drive deal activity, bankers said.
China’s state media on Thursday said yuan-denominated assets remain attractive and that short-term market panic does not represent long-term value, the latest official effort to shore up investor confidence.
U.S. stocks and the dollar slipped on Wednesday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track.
Asian shares stayed stuck at seven-month lows on Wednesday, as markets continued to digest a storm in Chinese equity markets, while the dollar rested with traders reluctant to place large bets ahead of the outcome of the Federal Reserve meeting.
International investors were feeling bruised and uncertain on Tuesday as a third day of heavy selling hammered China’s top tech stocks and began to seep into currency and debt markets.
Asian equity markets rose cautiously Tuesday, after touching year to date lows the day before, with traders keeping at least half an eye on the United States where major companies report earnings and the Federal Reservemeets on policy this week.
Battered by a regulatory crackdown, China’s multi-billion dollar private tutoring sector could seek to separate its business segments and bulk up non-academic tutoring as it tries to soften the blow on its operations, analysts said on Monday.
Asia’s stock markets fell to fresh troughs on Tuesday led by a third straight session of heavy selling in Chinese internet giants, while bond and currency markets traded on edge ahead of the Federal Reserve policy meeting.
China’s sweeping new rules in private tutoring has left private education firms facing a significant business impact as Beijing steps up regulatory oversight of a $120 billion industry that investors had bet billions of dollars on in recent years.
Cryptocurrencies popped to the top of recent ranges on Monday as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive comments from influential investors might signal a turnaround in fragile sentiment.
Binance, the world’s largest cryptocurrency exchange, said on Monday that it would stop offering cryptocurrency margin trading involving the Australian dollar, euro and sterling.
Shares and bonds of China Evergrande (3333.HK), the country’s most indebted developer, stayed in the red on Tuesday as worries over its financial health persisted even after a local housing authority removed an earlier sales suspension at two real estate projects.
Asian stocks were down early on Tuesday as growing fears the spreading Delta variant of the coronavirus would harm the global economic recovery sent riskier assets, including oil, skidding sharply.
SPIN BOLDAK, Afghanistan, July 16 (Reuters) – Reuters journalist Danish Siddiqui was
Asian shares fell on Wednesday after data showing the biggest jump in U.S. inflation in 13 years fuelled some market expectations that the Federal Reserve could exit pandemic-era stimulus earlier than previously thought.
Smithfield Foods, the world’s largest pork processor, has stopped slaughtering pigs in the United States’ so-called ham capital, where the company was founded 85 years ago.
The U.S. government on Tuesday strengthened its warnings to businesses about the growing risks of having supply chain and investment links to China’s Xinjiang region, citing forced labor and human rights abuses there.
Weibo Corp (WB.O) Chairman Charles Chao and a state investor are in talks to take the Nasdaq-listed Chinese social media company private in a deal that could value it at $20 billion-plus, sources close to the matter told Reuters.
Asian share markets were volatile on Tuesday, after Australia’s central bank flagged some tapering in its quantitative easing programme and concerns over the future of China’s powerful technology sector weighed down shares.
Chinese regulators have gained a reputation for aggressive action, but even hardened investors were shocked by the announcement of a probe into ride-hailing firm Didi (DIDI.N) just two days after its $4.4 billion New York stock market debut.
Asian merger and acquisition activity surged to its second-highest level ever for a first half as Southeast Asian and private-equity deals hit records, and bankers expect the strong momentum to be maintained for the rest of the year.
Asian stock markets made a subdued start to the second half of 2021 on Thursday, weighed by worries about new coronavirus infections and fresh lockdowns, while bond and currency markets were on edge ahead of U.S. labour data.
From working at a foot massage company to setting up China’s biggest ride-hailing firm, Will Wei Cheng has navigated several hurdles on the path to taking Didi Global Inc (DIDI.N) public in a $4.4-billion New York float.
ChemChina is aiming to raise around $10 billion from a Shanghai IPO for Swiss agrichemical giant Syngenta Group, in what is set to be the world’s largest flotation this year, sources with direct knowledge of the matter told Reuters.
Hong Kong media group Next Digital (0282.HK), owned by jailed tycoon Jimmy Lai, will cease operating from July 1 after the company’s assets were frozen as part of a national security investigation, according to an internal memo seen by Reuters.
Chinese smart electric vehicle maker Xpeng Inc said it would raise $1.8 billion to expand its product line-up and develop its technology, by pricing its shares on Wednesday at HK$165 ($21.25) each in a Hong Kong dual primary listing.
TP ICAP (TCAPI.L), the world’s biggest interdealer broker, is launching a cryptocurrency trading platform with Fidelity Investments and Standard Chartered’s digital assets custody unit, the consortium said on Tuesday.
Malaysian conglomerate Sunway Bhd (SWAY.KL) has teamed up with Tencent-backed Chinese fintech firm Linklogis Inc (9959.HK) and Bangkok Bank PCL (BBL.BK) to apply for a Malaysian digital bank licence, two sources with knowledge of the matter said.
China’s biggest ride-sharing firm Didi Global Inc will close the investor order books for its U.S. initial public offering (IPO) to raise up to $4 billion one day early on Monday, two people with direct knowledge of the matter said.
He Shuang, a student at a U.S. university stranded in her home city of Chongqing in southwest China during the pandemic, has added more than 300 domestic brands to her list of favourites on Alibaba’s (9988.HK) Taobao online mall.
Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) expects to reduce its cash burn to less than HK$1 billion ($128.84 million) a month in the second half of the year, its chief financial officer said.
Students from developed East Asia are leading the world in math and science according to just-published results of exams delivered to 600,000
The listing committee of the Hong Kong Stock Exchange has approved Chinese electric vehicle maker Xpeng Inc (XPEV.N) for a dual primary listing in the Asian financial hub, a source with direct knowledge of the matter told Reuters.
Bitcoin stabilised in Asian trading on Tuesday morning a day after a statement from China’s central bank reaffirming the ongoing crackdown on cryptocurrencies in the country sent the world’s largest token to a two-week low.
Global banks are moving faster in Hong Kong to get staff back to office versus in other major centres, given fewer daily COVID-19 cases in the Asian city, and are offering incentives such as onsite vaccinations and days off to encourage inoculation.
Asian shares inched higher on Friday but were set for a weekly loss, while the U.S. dollar hovered near two-month highs as investors continued to digest comments from the U.S. Federal Reserve projecting interest rate hikes in 2023.
June 16 (Reuters) – Chickens, cows, paid leave, even a million-dollar apartment, these are the prizes on offer from Thailand to Indonesia to Hong Kong for those who get vaccinated against COVID-19 as nations across Asia combat vaccine hesitancy.
Asian shares rose early on Tuesday, tracking Wall Street higher, though investors looked to a much-anticipated Federal Reserve policy meeting to see if the central bank would signal any change to the U.S. monetary policy outlook.
World stocks climbed another peak on Monday, while U.S. bond yields were near three-month lows as worries of rising inflation abated and investors anticipated the U.S. Federal Reserve sticking to its dovish course this week.
Global shares held firm near record highs on Monday while U.S. bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week.
Authorities in China’s northwestern province of Qinghai and a district in neighbouring Xinjiang ordered cryptocurrency mining projects to close this week, as local governments put into practice Beijing’s call to crack down on the industry.
The United States remains the world’s dominant financial centre, well ahead of nearest rival Britain, whose lead over Frankfurt and Paris so far easily outweighs the hit from Brexit, a study from New Financial think tank said on Thursday.
Global digital currency exchanges are exploring ways to set up in India, following in the footsteps of market leader Binance, industry sources told Reuters, while the government in New Delhi dithers over introducing a law that could ban cryptocurrencies.
Asia stocks reversed early gains on Tuesday, with traders sidelined ahead of U.S. inflation data and a European monetary policy meeting this week while oil prices lost more ground on worries over the fragile state of the global recovery.
Asia stocks opened higher on Tuesday, cruising in the slipstream of a record high overnight gauge of global equity markets, with investors hoping for inflation and monetary policy clues later in a week full of key central bank meetings and data points.
Cathay Pacific Airways Ltd (0293.HK) said on Tuesday that the Hong Kong government had agreed to extend the drawdown period for a HK$7.8 billion ($1.01 billion) loan facility by a year to June 2022, giving it more flexibility to manage liquidity.
Daimler AG’s (DAIGn.DE) main China joint venture with BAIC Motor (1958.HK) plans to add a shift and working days at two Beijing plants that will boost nominal capacity to make Mercedes-Benz cars by 45%, a document on the venture’s Chinese website showed.
Some global banks, funds and other financial services providers say they are stepping up hiring in Hong Kong, in a sign the city’s unique position as a financial gateway to China is outweighing concerns about Beijing’s tightening grip over it.
A Standard Chartered PLC (STAN.L) unit intends to establish a cryptocurrency brokerage and exchange platform in Britain and Europe, targeting institutional clients, the bank said on Wednesday.
Asian shares edged up to near three-month highs on Wednesday and global equities held steady near a record as data showing higher U.S. manufacturing activity in May cheered investors looking for signs of a continued rebound in the world’s largest economy.
A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan.
Here’s what you need to know about the coronavirus right now.
Hong Kong’s Cathay Pacific Airways Ltd (0293.HK) has resumed recuiting pilots with residency rights in the territory as part of medium- to long-term planning, the airline said on Tuesday, despite having much of its fleet parked due to the pandemic.
Asian stock markets rose on Tuesday while gold flirted near five-month highs ahead of European and U.S. data this week that will likely offer clues on the health of the global economy.
Just as past crises triggered international and regional financial cooperation, the pandemic offers an opportunity to collectively improve financial resilience and soundness.
HSBC (HSBA.L) announced it is withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps up a shift in focus to Asia, its biggest market.
Shares in jailed tycoon Jimmy Lai’s Next Digital Ltd (0282.HK) soared on Thursday, the first day of trading after a suspension of longer than a week following a freeze in the pro-democracy activist’s assets under the national security law.
Asian shares rose on Wednesday while the U.S. dollar stood near its lowest levels this year after U.S. Federal Reserve officials reaffirmed a dovish monetary policy stance, providing yet more assurance to investors worried about the inflation outlook.
London Metal Exchange plans to replace its LMEselect trading system with its owner Hong Kong Exchanges and Clearing’s Orion platform, CEO Matt Chamberlain said on Tuesday.
Asian shares advanced on Tuesday, tracking a rally on Wall Street, while the dollar held near a fourth-month low as inflation worries faded after Federal Reserve officials allayed fears about monetary policy tightening.
Cryptocurrencies fought back on Monday, clawing back ground after a bout of weekend selling fuelled by further signs of a gathering Chinese crackdown on the emerging sector.
JD Logistics Inc is set to price its shares at HK$40.36 ($5.20), towards the lower end of its indicated range, to raise $3.16 billion in a Hong Kong initial public offering (IPO), two people with direct knowledge of the matter told Reuters.
Bitcoin regained some lost ground to trade near $40,000 on Thursday, a day aftera brutal selloff on concerns over tighter regulation in China and unease over the extent of leveraged positions in the cryptocurrency world.
Stock markets struggled for traction on Thursday after a jittery session on Wall Street where cryptocurrencies crashed and a hint of tapering talk from the U.S. Federal Reserve drove selling in the bond market and lifted the safe-haven dollar.
Global stocks slipped and cryptocurrencies sank on Wednesday as a threat of unwanted inflation had investors shy away from assets seen vulnerable to any removal of monetary stimulus.
Asian shares rose on Tuesday, shrugging off worries about an
A travel bubble between Hong Kong and Singapore due to
Bitcoin popped back above $50,000 in Asian trade on Thursday,
The U.S Department of Defense will remove China’s Xiaomi Corp (1810.HK) from
Asian shares declined in early trade on Tuesday as Wall Street retreated on worries about accelerating inflation, prompting investors to cut back on their exposure to growth-focused stocks on bets of higher interest rates in the not-too-distant future.
World share indexes stayed near all-time highs on Tuesday and
Cryptocurrency ether broke past $3,000 on Monday to set a
Differences between New Zealand and its top trading partner China
The Covid 19 outburst has reappeared in the scenario. When
The stage fright of walking into the imposing offices of a $607 billion asset manager in the heart of a historic financial district? Pandemic era: a five-day induction on Microsoft Teams.
Hong Kong’s legislature passed on Wednesday a controversial immigration bill,
Measuring purchasing power is an effective way to track economic recovery after the pandemic, estimate the real sizes of economies, and gauge poverty.
China is shoring up ties with autocratic partners like Russia
HONG KONG (Reuters) – Hong Kong authorities said on Thursday that the city’s vaccine scheme would be widened to include those aged between 16 to 29 years old for the first time, as they aim to boost lackluster demand for inoculations in the Asian financial hub.
TOKYO (Reuters) -Global stock markets rose to a record high on Wednesday as bond yields eased after data showed U.S. inflation was not rising wildly as the economy reopens.
SINGAPORE (Reuters) – The dollar advanced slightly on Friday but
The dramatic inside story of the first four historic flights
HONG KONG (Reuters) – China’s top ride-hailing firm Didi Chuxing
AMSTERDAM (Reuters) – Amsterdam-based technology investor Prosus NV has netted
SYDNEY (Reuters) – Asian shares pulled back from a three-week
TOKYO/LONDON/NEW YORK (Reuters) – Bitcoin dropped on Monday, falling from a record high above $60,000 over the weekend, as investors digested a potential ban from India on cryptocurrencies.
TOKYO/LONDON (Reuters) – Bitcoin fell back sharply on Monday after hitting a record high of $61,781.83 over the weekend after U.S. President Joe Biden signed off on his $1.9 trillion fiscal stimulus and ordered an acceleration in vaccinations.
© | All rights reserved.
