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☆ Kim Aris: Aung San Suu Kyi’s son casts doubt on reports Myanmar former leader has been moved from prison
▼ + stars: | 2024-04-23 | by ( Helen Regan | ) edition.cnn.com time to read: +13 min

Drn/Getty Images Suu Kyi, front center, is seen with her parents and her two elder brothers in 1947. Kyodo News Stills/Getty Images Suu Kyi poses with Burmese comedian Par Par Lay, who was part of the pro-democracy act "The Moustache Brothers." Soe Than Win/AFP/Getty Images Suu Kyi meets US Secretary of State Hillary Clinton at Suu Kyi's residence in Yangon in 2011. Peter Muhly/AFP/Getty Images Suu Kyi is presented with the Congressional Gold Medal while visiting the US Capitol in 2012. U Aung/Xinhua News Agency/Getty Images Suu Kyi addresses the United Nations General Assembly in New York in 2016.

Persons: Aung, Suu, ”, Kim Aris, Suu Kyi, she’s, ” Aris, CNN’s Anna Coren, “, Michael Aris, ” “, Zaw Min Tun, Min Aung Hlaing, Aris, they’ve, Ma Khin Kyi, Par, Karl Malakunas, David Brunnstrom, Jonathan Karp, Price, Luis D'Orey, David Van Der Veen, Jonathan Utz, Michael Wolf, Pornchai Kittiwongsakul, Soe, Hillary Clinton, Paula Bronstein, Minzayar Oo, Kyi, Bono, Peter Muhly, Alex Wong, Barack Obama, Obama, Brendan Smialowski, Chris Ison, Ragnar Singsaas, Romeo Gacad, Lauren DeCicca, Lam Yik Fei, Htin Kyaw, Aung Naing, Min Aung, Aung Htet, Kyaw, Jewel SamadD, John Kerry, Jonathan Ernst, Reuters Suu Kyi, Heath Mitchell, Pope Francis, Elizabeth II, John Stillwell, Mike Pence, Bernat, Myanmar's, Koen Van Weel, ’ Aris, I’d, Suu Kyi’s NLD Organizations: CNN, Aung, National League for Democracy, Aris, Reuters, Burma Independence Army, Kyodo, Stills, Oxford University, Getty, Embassy, Suu Kyi, Panos, Congressional, Capitol, Suu, Xinhua News Agency, United Nations General Assembly, National Park Service, Palace, ASEAN, Court of Justice, Association for Political, United Nations Locations: Myanmar, Britain, Rangoon, Yangon, Myanmar’s, Zaw, heatstroke, Naypyidaw, India, Par Par Lay, England, AFP, Bangkok, Thailand, Bagan, Pathein, Camberley, Oslo, Norway, Kawhmu, New York, Washington ,, Washington, DC, Singapore, Gambia, “, Burma, doesn’t

When the largest earthquake in Taiwan in half a century struck off its east coast, the buildings in the closest city, Hualien, swayed and rocked. As more than 300 aftershocks rocked the island over the next 24 hours to Thursday morning, the buildings shook again and again. One of them, the rounded, red brick Uranus Building, which leaned precariously after its first floors collapsed, was mostly drawing curious onlookers. The building is a reminder of how much Taiwan has prepared for disasters like the magnitude-7.4 earthquake that jolted the island on Wednesday. Of Taiwan, he added: “And most of these deaths, it seems, have come from rock slides and boulders, rather than building collapses.”

Persons: ”, Daniel Aldrich Organizations: Global Resilience, Northeastern University Locations: Taiwan, Hualien

☆ The portfolio’s 5 best-performing stocks since the February Annual Meeting
▼ + stars: | 2024-03-27 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Ahead of Wednesday's Monthly Meeting, here's a look at the best-performing Club stocks since Feb. 23, the session before the annual gathering, through Tuesday's close. NVDA mountain 2024-02-23 Nvidia's stock performance since the close of Feb. 23, 2024. DIS mountain 2024-02-23 Disney's stock performance since the close of Feb. 23, 2024. ETN mountain 2024-02-23 Eaton Corp.'s stock performance since the close of Feb. 23, 2024. STZ mountain 2024-02-23 Constellation Brands' stock performance since the close of Feb. 23, 2024.

Persons: Bob Iger, Nelson Peltz's Trian, Peltz, Eaton, it's, didn't, Wedbush, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Lam, Fei Organizations: Nvidia, Blackwell, Apple's, Disney, Club, ESPN, Nelson Peltz's Trian Partners, Eaton Corp, Street, Federal Aviation Administration, Boeing, Wall Street, Constellation Brands, Nielsen, Wedbush Securities, Wine, DuPont, Barclays, CNBC, Nvidia Corp, Bloomberg, Getty Locations: U.S, Tuesday's, STZ, Taipei, Taiwan

☆ Lionel Messi no-show ignites booing and calls for refunds at Inter Miami match in Hong Kong
▼ + stars: | 2024-02-04 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —Thousands of soccer fans in Hong Kong were left disappointed when Argentine superstar Lionel Messi failed to take to the field in a friendly match for Inter Miami on Sunday. What started with overwhelming cheers and rapture ended in boos and calls for refunds in the sold-out, 40,000-seat Hong Kong Stadium. Inter Miami — out to prove a point having gone winless during a worldwide pre-season tour — comfortably defeated a Hong Kong XI 4-1 in an event branded as Tatler XFEST Hong Kong. According to Reuters, tickets went on sale in December and cost between 880 and 4,880 Hong Kong dollars (about $113 and $624). “This whole Messi in Hong Kong thing has been building up for quite some time.

Persons: Lionel Messi, —, Messi, Ballon, Hong, “ Messi, Luis Suárez, Jordi Alba, Sergio Busquets, Louise Delmotte, David Beckham, Messi ”, ”, XFEST, Suárez, “, Gerardo “ Tata ” Martino, Leo, Luis, ” Martino, apologetically, Hong Kong, “ Leo, Suarez, ” Suárez, Martino, Yapp Hung, Yapp, Messi superfan Christer Leung, ” Leung, Lionel, Lam Yik, Reuters “ Messi Organizations: Hong Kong CNN, Argentine, Inter Miami, Hong Kong Stadium, Inter Miami —, Hong, Reuters, CNN, Miami, Al, MLS, Major League Soccer, Hong Kong XI, fai, Messi, Argentina, ’, Inter, USA, Sports, Ardent, Argentina national, Australia, Nigeria, Vissel Kobe Locations: Hong Kong, Saudi Arabia, America, China, Beijing, Argentina, Ivory Coast, Hangzhou, Japan

☆ China tries to halt stock market rout by boosting lending and wooing foreign investors
▼ + stars: | 2024-01-24 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China has vowed to pump more money into the economy and further open its $64 trillion financial industry to international investors, as Beijing scrambles to restore confidence following a massive stock market rout. The astonishing losses, reminiscent of the last Chinese stock market crash of 2015-2016, highlight a crisis of confidence among investors concerned about the country’s future. It will allow Hong Kong banks to expand their businesses in mainland China and reduce the barriers to investing in mainland insurers. Last month, China Reform Holdings, a state-owned investment fund, announced it had bought tech-focused index funds to support the market. The brutal sell-off in Chinese stock markets has even forced some hedge fund managers to apologize for making wrong bets.

Persons: Li Yunze, “, Pan Gongsheng, Goldman Sachs, Li, ”, Lam, Li Qiang, Wang Zhao, Premier Li Qiang, Stringer, Li Bei Organizations: Hong Kong CNN, Administration of Financial, People’s Bank of, Buildings, New Champions, Getty, Premier, Xinhua, Reuters, Securities Daily, Social Security Fund, China Reform Holdings, Central Huijin Investment, Shanghai Banxia Investment Management Locations: China, Hong Kong, Beijing, Shanghai, Shenzhen, People’s Bank of China, Victoria Harbour, British, Tianjin, AFP, Central, Fuyang, China's, Anhui

The collection of American memorabilia, vast and well-lit in a busy area of City Hall in the southern Taiwanese city of Tainan, reflected decades of eager courtship. Maps highlighted sister cities in Ohio and Arizona. There was a celebration of baseball, an American flag laid out on a table. And in the middle of it all, a card sent to the United States that seemed to reveal the thinking of Tainan, a metropolis of 1.8 million, and nearly all of Taiwan. “Solidarity conquers all.”The message was aspirational — a graphic illustration of profound insecurity.

Organizations: City Hall, Solidarity Locations: City, Tainan, Ohio, Arizona, American, United States, Taiwan, China

☆ Louis Vuitton stages dramatic runway show in Hong Kong
▼ + stars: | 2023-11-30 | by ( Stephy Chung | Oscar Holland | ) edition.cnn.com time to read: +8 min

Many of the looks were completed with naval accessories, like raffia bucket hats and Louis Vuitton Keepall 25 bag hand-embrodiered with seashells. Musician Ma Siwei and actor Dylan Wang at the Louis Vuitton Men's fashion show in Hong Kong, China. Louis Vuitton opened its first boutique in Hong Kong in 1979. Many of the looks were completed with naval accessories, like raffia bucket hats and Louis Vuitton Keepall 25 bag hand-embrodiered with seashells. “I definitely knew I wanted Hong Kong to be my second stop after Paris,” he said of his Louis Vuitton show schedule.

Persons: Hong Kong CNN — Louis Vuitton’s, Pharrell Williams, Pont, Hong, Anson Lo, Song, ”, Williams, ” —, —, Louis Vuitton, Ma Siwei, Dylan Wang, Billy H.C, Kwok, Virgil Abloh, Louise Delmotte, “, Louis Vuitton’s, junkboat, Dior, Louis Vuitton's, Lam Yik, Tyrone Siu, Reuters Louis Vuitton’s, Lorraine Schwartz, it’s, ” Williams, “ You’re Organizations: Hong Kong CNN, Hollywood, CNN, Louis, Paris, Vuitton, National Security Law, Hong Kong Tourism Board, ”, Bloomberg, Getty, K11 Group, Stars, Victoria, Reuters, Reuters Louis Vuitton’s womenswear Locations: Hong Kong, Asia, Hong, Victoria Harbour, American, Paris, Hawaii, China, Victoria Dockside, Huangpu, Shanghai, South Korea

Owen Chow Ka-shing, one of the 47 pro-democracy activists charged with conspiracy to commit subversion under the national security law, arrives at West Kowloon Magistrates' Courts building, in Hong Kong, China November 29, 2021. On the first day of closing submissions, one of the handpicked national security judges, Andrew Chan, said a verdict would "tentatively" come in three to four months, with 10 days set aside for closing submissions. Beijing says the national security law brought stability to the city after monthslong pro-democracy protests in 2019. "Communication with the public is much easier, (it's) easy to manipulate those means in order to endanger national security," he added. Thirty-one of the 47 charged have pleaded guilty - which could qualify them for reduced sentences.

Persons: Owen Chow Ka, Lam, Andrew Chan, Hong, Jonathan Man, Man, Gwyneth Ho, Owen Chow, Gordon Ng, Leung Kwok, Helena Wong, Benny Tai, Joshua Wong, Gerry Doyle Organizations: REUTERS, Hong, Thomson Locations: Kowloon, Hong Kong, China, HONG KONG, United States, Beijing

☆ Citigroup Makes Fresh Round of Layoffs in Jane Fraser’s Restructuring Plan
▼ + stars: | 2023-11-20 | by ( David Benoit | ) www.wsj.com time to read: 1 min

Citigroup’s layoffs are part of Chief Executive Jane Fraser’s efforts to streamline the global bank. Photo: Lam Yik/Bloomberg NewsCitigroup began making an extensive round of layoffs and organizational changes, part of Chief Executive Jane Fraser ’s efforts to streamline the sprawling global bank. The bank on Monday didn’t say how many employees were due to be cut on Monday and it hasn’t set a target for total layoffs. Instead, Fraser in September ordered her subordinates to remake their teams for a new alignment she devised and then cut positions that no longer were needed.

Persons: Jane Fraser’s, Lam Yik, Jane Fraser ’, Fraser Organizations: Bloomberg News Citigroup

☆ Morgan Stanley CEO says his firm is ready for 'Basel III endgame' — the sweeping new global rules on banking
▼ + stars: | 2023-11-16 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

James Gorman, chairman and chief executive of Morgan Stanley, speaks during the Global Financial Leader's Investment Summit in Hong Kong, China, on Tuesday, Nov. 7, 2023. The de-facto central bank of the Chinese territory is this week holding its global finance summit for a second year in a row. Photographer: Lam Yik/Bloomberg via Getty ImagesSINGAPORE — Morgan Stanley Chairman and CEO James Gorman said his firm will be able to cope with "any form" that new banking regulations end up taking, but added he expects some watering down before the final rules are confirmed. U.S. regulators on Tuesday defended their plans for a sweeping set of proposed changes to banks' capital requirements, speaking in front of the U.S. Senate Banking Committee. These proposed changes in the U.S. seek to incorporate parts of international banking regulations known as Basel III, which was agreed to after the 2008 crisis and has taken years to roll out.

Persons: James Gorman, Morgan Stanley, Lam Yik, Getty Images SINGAPORE — Morgan Stanley, it's, Gorman, Morgan, I've Organizations: Financial, Investment, Bloomberg, Getty Images SINGAPORE, U.S . Senate Banking Committee, Basel III, CNBC, Pacific, Federal Reserve, Fed Locations: Hong Kong, China, U.S, Basel, —, Morgan Stanley's, Asia, Singapore, New York

☆ Notoriously scruffy Sam Bankman-Fried gets a makeover for his criminal trial with a new haircut and suit
▼ + stars: | 2023-10-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried reportedly got a haircut from a fellow inmate for the first day of his criminal trial. The disgraced crypto entrepreneur is famous for his messy hair and casual dress sense. AdvertisementAdvertisementSam Bankman-Fried is famous for his unkempt curls and casual dress sense – but for the first day of his criminal trial in court, he brushed up his image. Bankman-Fried reportedly entered the courtroom with a new close-cut haircut and a freshly-pressed suit, according to CNBC. Sam Bankman-Fried is famous for his casual dress sense.

Persons: Sam Bankman, Fried, SBF, —, Caroline Ellison, Gary Wong, FTX's, Lam Yik, Bill Clinton, Tony Blair, Anthony Scaramucci Organizations: Service, CNBC, Alameda Research, Bloomberg, Getty, British Locations: Brooklyn, Alameda, Bahamas

☆ China relaxes rules for insurers to invest in stock markets
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-People walk past a screen displaying the Hang Seng stock index at Central district, in Hong Kong, China October 25, 2022. A lower risk weighting frees up more capital for insurers to invest. In addition, the watchdog reduced the risk weighting it assigns to investments in Real Estate Investment Trusts (REITs), which in China channel money mainly into infrastructure projects. It also set a relatively low risk weighting for private equity investments in China's strategic and emerging sectors. China has unveiled a slew of measures to boost investor confidence and revive its stock market.

Persons: Lam, Samuel Shen, Tian, Christina Fincher Organizations: REUTERS, Rights, National Administration of Financial, Real, Investment, Thomson Locations: Central, Hong Kong, China, Rights BEIJING, Shanghai, Beijing

☆ Exclusive: Credit Suisse to cut 80% of Hong Kong investment bank jobs from this week
▼ + stars: | 2023-08-07 | by ( Selena Li | ) www.reuters.com time to read: +2 min

A pedestrian walks past a logo of Credit Suisse outside its office building in Hong Kong, China March 21, 2023. Hong Kong accounts for Credit Suisse's biggest share of investment bankers in Asia. It has since said it would reduce risk in Credit Suisse's investment banking operation. UBS laid off employees from Credit Suisse's investment bank in New York last week, Reuters reported, citing a source familiar with the situation. Besides Hong Kong, other regional markets in which Credit Suisse has investment bankers include China, Singapore, Vietnam, Australia, South Korea, Thailand and India.

Persons: Lam, HONG KONG, Christian Deiss, Deiss, Selena Li, Julie Zhu, Sumeet Chatterjee, Christopher Cushing Organizations: Credit Suisse, REUTERS, UBS Group, Credit Suisse's, Asia . Credit Suisse, UBS, Credit, Reuters, Thomson Locations: Hong Kong, China, HONG, Asia ., Swiss, New York, Houston, Asia, Singapore, Vietnam, Australia, South Korea, Thailand, India, Credit Suisse's Asia, Pacific

☆ Asia shares slip as China casts a pall, dollar's slide abates
▼ + stars: | 2023-07-18 | by ( Selena Li | ) www.reuters.com time to read: +3 min

[1/2] FILE PHOTO-People walk past a screen displaying the Hang Seng stock index outside Hong Kong Exchanges, in Hong Kong, China July 19, 2022. Investors are waiting for clearer signs that inflation is cooling, with the readings on U.S. retail sales and industrial production to be released later on Tuesday. Economists reckon retail sales in June will show a 0.5% rise from May, strong enough to keep the soft landing scenario without rekindling worries about inflation. The Fed, European Central Bank and Bank of Japan are holding policy reviews next week. The U.S. dollar index dipped slightly to 99.71 in Asia trade, having struck its lowest since April 2022 on Friday.

Persons: Lam, Morgan Stanley, Goldman Sachs, Gary Ng, Ng, Brent, Selena Li, Simon Cameron, Moore, Sam Holmes Organizations: Hong Kong Exchanges, REUTERS, Federal, Bank of America, Natixis Corporate, Investment Bank, The, European Central Bank and Bank of Japan, Japan's Nikkei, ECB, Fed, Bank of England, U.S, Bank of Japan, Thomson Locations: Hong Kong, China, HONG KONG, Asia, Pacific, Japan

☆ For Hong Kong's youth, government-backed hostels offer a smidgen of housing hope
▼ + stars: | 2023-07-09 | by ( Clare Jim | ) www.reuters.com time to read: +5 min

[1/6] Guests attend the opening ceremony of BeLIVING Youth Hub, a youth hostel organized by the Hong Kong United Youth Association, in Hong Kong, China March 27, 2023. Two months ago, he landed a spot at a new so-called "youth hostel", which offers rooms for young adults that are subsidised by the Hong Kong government and can be rented for up to five years. A survey by the Concerning Youth Housing Rights Alliance published in May suggests the hostels will have limited appeal with close to 90% of respondents saying they don't plan to apply. "We need to think of ways to cut costs and to raise funds to keep operating," said Carrie Wong, a supervisor at the Hong Kong Federation of Youth Groups. ($1 = 7.8136 Hong Kong dollars)Reporting by Clare Jim; Editing by Anne Marie Roantree and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Lam, Silver Ho, Ho, Xi Jinping, It's, Kong, Xi, Chelsea Tung, I’ll, Carrie Wong, Ngai Ming Yip, Clare Jim, Anne Marie Roantree, Edwina Gibbs Organizations: Hong Kong United Youth Association, REUTERS, Hong, HK, Housing Rights Alliance, New, Hong Kong Federation of Youth Groups, City University of Hong, Research, Thomson Locations: Hong Kong, China, HONG KONG, Beijing, Causeway, Kong's, New BeLIVING, City University of Hong Kong

☆ China’s New Hot Stocks Are State-Owned Banks and Brokers
▼ + stars: | 2023-05-09 | by ( Rebecca Feng | Cao Li | ) www.wsj.com time to read: 1 min

Bank of China’s shares are up more than 44% since the start of the year. Photo: Lam Yik/Bloomberg NewsWhile investors in the U.S. are fretting about bank stocks, over in China banks and brokers are among the market’s hottest trades. China Citic Bank ’s shares jumped 10% on Monday in Shanghai, the maximum daily rise permitted in mainland China’s market. Further gains on Tuesday took their increase to 15% this week, leading a rally in the sector that has also included sizable gains in Bank of China, Industrial and Commercial Bank of China and Agricultural Bank of China—all state-owned lenders.

☆ Hong Kong: One of the world's most expensive cities raises minimum wage by 32 cents
▼ + stars: | 2023-05-02 | by ( Jessie Yeung | ) edition.cnn.com time to read: +6 min

So when the Hong Kong government raised the minimum wage by a measly 32 cents on Monday, activists and community workers were scathing in their response. “It cannot cover basic needs in Hong Kong.”The new minimum wage now stands at 40 Hong Kong dollars ($5.1) per hour, up from the previous 37.5 Hong Kong dollars ($4.78) per hour. But Wong said this new increase will make little difference in Hong Kong, consistently ranked one of the world’s most expensive cities. The city’s median hourly wage last year was 77.4 Hong Kong dollars ($9.86), according to the Census and Statistics Department. A demonstration from the Hong Kong Women Workers Association in front of the Central Government Office on May 1, 2023.

In Shanghai, over seven million tourists arrived in the city for the weekend, according to Shanghai Travel Data. Also known as the May Day holiday, the Labor Day break is one of three major annual holidays in China. Tourists visit Nanjing Confucius Temple ahead of the May Day holiday on April 27, 2023 in Nanjing, Jiangsu Province of China. Visitors walk past the Casino Lisboa, operated by SJM Holdings, during Labour Day holiday in Macau, China, April 30, 2023. “The unscrupulous practice of these bed-and-breakfasts is ugly,” said an opinion piece posted on the social media platform by state media People’s Daily.

☆ Chinese tourists flock to gambling hub Macau for Labour Day holiday
▼ + stars: | 2023-04-30 | by ( Joyce Zhou | ) www.reuters.com time to read: +3 min

[1/5] A view of visitors in front of the ruins of Saint Paul's during Labour Day holiday in Macau, China, April 30, 2023. REUTERS/Lam YikMACAU, April 30 (Reuters) - Hundreds of thousands of mainland Chinese visitors have descended on the world's biggest gambling hub of Macau for the Labour Day holiday, packing tightly into its narrow cobblestone streets and placing bets in its glitzy casinos. Coco Li, a 42-year-old woman from Hubei province who was visiting with her husband, said they chose to come to Macau because travel rules had relaxed. "We've been actively working with the Macau government on our labour requirements," the company said. Reporting by Joyce Zhou in Macau; Writing by Farah Master; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Sotheby's to auction world's largest ruby in New York in June
▼ + stars: | 2023-04-17 | by ( Jessie Pang | Thomson Reuters | Jessie Pang Joined Reuters In After An Internship. She Covers Hong Kong With A Focus On Politics | ) www.reuters.com time to read: +2 min

[1/2] An employee shines a light at the 55.22 carat "The Estrela de Fura" ruby, the largest in the world and expected to fetch up to $30 million in an upcoming New York auction, during a preview at Sotheby's, in Hong Kong, China April 17, 2023. REUTERS/Lam YikHONG KONG, April 17 (Reuters) - The largest ruby in the world to come to auction will be offered by Sotheby's in New York in June, the auction house said at a preview in Hong Kong on Monday, and is estimated to achieve more than $30 million. That would probably make the 55.22-carat gem, known as the Estrela de Fura, the most expensive ruby ever sold at auction, said Uni Kim, a specialist in Sotheby's jewellery department in the Asian financial capital. The current world record for a ruby sold at auction was set in May 2015 by "Sunrise Ruby," a 25.59-carat Burmese stone that fetched $30.3 million at Sotheby's in Geneva. "We estimate Estrela de Fura to be sold in excess of $30 million," Kim added.

"Most luxury retailers don't think Hong Kong will return to the dizzy levels of 2014 when the market here peaked," said Simon Smith, Savills' senior director of research and consultancy in Hong Kong. Morgan Stanley (MS.N) forecast Hong Kong visitor numbers this year will reach just 70% of 2018 arrivals. It estimates retail sales will grow 15%, holding at around 80% of retail trade from the pre-COVID year. That outstripped total Hong Kong retail sales from a peak hit in 2013 at HK$494.5 billion ($63.0 billion), according to the city's statistics department. ($1 = 6.8510 yuan)($1 = 7.8498 Hong Kong dollars)Reporting by Farah Master, Jessie Pang, Anne Marie Roantree, Angel Woo and Donny Kwok in Hong Kong, Sophie Yu in Beijing, and Mimosa Spencer in Paris; Writing by Miyoung Kim; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ Hong Kong unveils budget, promising 'abundant opportunities' as city recovers
▼ + stars: | 2023-02-22 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Pedestrians pas stores in Hong Kong, China, on Saturday, Oct. 15, 2022. Hong Kong wants to become an international center for virtual assets as the city seeks to bolster its status as a global financial hub following the disruptions caused by the pandemic. "I believe that Hong Kong's economy will visibly recover this year, and I remain positive," Chan said during his budget speech. Hong Kong's economy is expected to see a rebound of 3.5% to 5.5% in 2023, after shrinking 3.5% in 2022, Chan said. Hong Kong closely followed China's strict zero-Covid policy until the middle of 2022 when the city began to ease some of the restrictions.

☆ Macau casino revenues surge in Jan after COVID rules lifted
▼ + stars: | 2023-02-01 | by ( Farah Master | ) www.reuters.com time to read: +3 min

Still investors took cheer, sending shares in Macau casinos up between 3% to 5%, while executives and analysts said it was an encouraging sign of a solid recovery to come. A special administrative region of China, Macau has seen a resurgence of tourists from the mainland since Jan. 8 after the territory dropped all COVID-19 testing requirements for inbound travellers from the mainland, Hong Kong and Taiwan. January's revenues were the first for Sands China (1928.HK), Wynn Macau (1128.HK), MGM China (2282.HK), Galaxy Entertainment (0027.HK), MGM China (2282.HK) and SJM Holdings (0880.HK) under new 10-year contracts. Visitors pose for photos outside the Grand Lisboa casino operated by SJM Holdings during Lunar New Year in Macau, China, January 24, 2023. REUTERS/Lam Yik/File PhotoThe new contracts, with more government oversight and control, were struck after COVID-19 restrictions decimated Macau's gambling revenues and sent net debt soaring.

☆ Hong Kong is criminalizing CBD as a ‘dangerous drug’ alongside heroin
▼ + stars: | 2023-01-31 | by ( Jessie Yeung | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —Two years ago, cannabidiol was booming in Hong Kong. CBD cookies at the Found cafe in Hong Kong on August 11, 2022. And while CBD products could avoid this trace amount by using a pure form of CBD, most manufacturers mix other compounds for higher potency. From 2019 to early 2022, Hong Kong authorities launched nearly 120 “operations” seizing and testing CBD products from restaurants and shops to warehouses, Secretary for Security Tang Ping-keung said last year. Now “there’s less choice for consumers in Hong Kong.

☆ Tourists swarm gambling hub Macau over Lunar New Year after COVID curbs dropped
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

Macau has seen a resurgence of tourists from mainland China since Jan. 8 after the special Chinese administrative region dropped all COVID-19 testing requirements for inbound travellers from the mainland, Hong Kong and Taiwan. Macau welcomed more than 71,000 visitors on Monday, the highest single day record since the pandemic, its government said in a statement late on Tuesday. It was lifeless during lockdown and not very good," said a man surnamed Lam, who travelled to Macau from Jiangmen in nearby Guangdong province in southern China. More than 94% of visitors to Macau over the first three days of the Lunar New Year, Jan. 21-23, came from mainland China and neighbouring special administrative region Hong Kong. Local residents said they hoped the rise in visitors would bring a permanent boost to the city's beleaguered economy.

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