DIRS.INFO The most relevant business & tech news

☆ Wanda Properties says extension on $600 mln bond repayment gains early consent from holders
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

A sign of Wanda is pictured at the headquarters of Dalian Wanda Group, in Beijing's Central Business District (CBD), China August 8, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Nov 30 (Reuters) - Chinese real estate firm Wanda Properties International [RIC:RIC:WPIC.UL], a unit of conglomerate Dalian Wanda Group, said on Thursday it had received early consent approval from bondholders to extend the repayment on a $600 million guaranteed bond due 2024. The regulatory filing in Hong Kong said those voting in favour of the extension represented more than 99.3% of the aggregate principal amount of the bonds. Wanda Properties is still seeking final approval to extend the payment date of its $600 million 7.25% note to Dec. 29, 2024 from the current maturity date of Jan. 29, at a meeting of bondholders on Dec. 13 this year. Reporting by Liz Lee and Beijing newsroom; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Wanda, Tingshu Wang, Wanda Properties, Liz Lee, Jamie Freed Organizations: Dalian Wanda Group, Beijing's, Business, REUTERS, Rights, RIC, Dalian Wanda, Thomson Locations: China, Rights BEIJING, Hong Kong, Beijing

While freezing temperatures are not uncommon for the time of year, the sudden change is unusual. A few days ago, uncharacteristically warm weather saw parts of northern China post record high temperatures exceeding 30C. Winter this year, however, could be warmer due to a moderate El Nino, Jia Xiaolong, deputy director of China's National Climate Centre, told a press conference on Friday. El Nino is a natural climate pattern associated with warming of the ocean surface temperatures in the central and eastern Pacific. But statistics showed that winter temperatures could fluctuate greatly during El Nino, Jia warned.

Persons: REUTER, Tingshu Wang, Doksuri, El, Jia Xiaolong, El Nino, Jia, Ethan Wang, Ryan Woo, Simon Cameron, Moore, Robert Birsel Organizations: Business, Rights, El, China Meteorological Administration, CMA, Authorities, El Nino, Climate Centre, 0.5C, Thomson Locations: China, Rights BEIJING, El Nino, Mongolia, Xinjiang, Beijing, Tianjin, Hebei, Mohe, Pacific, El

People wearing face masks wait at an intersection in Beijing's Central Business District (CBD), as the city is shrouded in smog, in China November 1, 2023. The weather in many parts of China had stayed stubbornly warm entering November, with cities in eastern and central provinces such as Shandong, Anhui, Jiangsu and Henan still logging temperatures above 30C. In tandem with the warm weather, smog has also shrouded Beijing and its surrounding areas for days. In coming days, temperatures across northern China are expected to drop sharply. Other cities such as Beijing, Zhengzhou, Jinan, Xian and Shijiazhuang will see a sudden decline of 10C to 15C.

Persons: REUTER, Tingshu Wang, Ethan Wang, Ryan Woo, Simon Cameron, Moore Organizations: Business, Rights, Beijing Daily, Xinhua, National Meteorological Center, Shanghai, Thomson Locations: China, Rights BEIJING, Beijing, Shandong, Anhui, Jiangsu, Henan, Hebei province, Shenyang, Changchun, Harbin, Zhengzhou, Jinan, Xian, Shijiazhuang

☆ Haze lingers in Beijing as fog blankets parts of north China
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

[1/4] Vehicles move on a street in Beijing's Central Business District (CBD) as the city is shrouded in smog, in China November 1, 2023. REUTER/Tingshu Wang Acquire Licensing RightsBEIJING, Nov 1 (Reuters) - Hazy weather hung over Beijing on Wednesday with conditions in other parts of north China possibly worsening, forecasters said, although cold air sweeping in from the northwest is expected to help dissipate the smog. Experts attributed the haze in Beijing, which has lasted for several days, to poor atmospheric diffusion because of unseasonably weak cold air currents from the north. Visibility in most parts of Beijing dropped to less than 500 metres (546 yards), the China Meteorological Administration said. But from Thursday night, cold air is expected to push temperatures lower, possibly to new lows.

Persons: REUTER, Tingshu Wang, Gao, We're, Liu, Liz Lee, Ethan Wang, Xiaoyu Yin, Robert Birsel Organizations: Business, Rights, Beijing, China Meteorological Administration, Thomson Locations: China, Rights BEIJING, Beijing, Hebei province, Tianjin, Hebei, Jinan, Zhengzhou, Shijiazhuang

☆ Upbeat China Q3 GDP prompts most brokerages to raise their targets
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

A man walks past a street at Beijing's Central Business District (CBD) during morning rush hour, in Beijing, China April 18, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsOct 18 (Reuters) - Five big brokerages, including J.P.Morgan, raised their 2023 growth forecasts for China, after the country's economy grew at a faster-than-expected pace in the third quarter from a year earlier. Goldman Sachs, however, cut its view to bring it more in line with the target set by its peers. All six brokerages listed below have pegged their estimates above Beijing's 5% growth target for the year. Following are the forecasts from global brokerages:Compiled by the Broker Research team in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Goldman Sachs, Shounak Dasgupta Organizations: Beijing's Central Business, REUTERS, Broker Research, Thomson Locations: Beijing, China, Bengaluru

☆ China considers new stabilization fund to prop up stock market, Bloomberg reports
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

People stand at a shopping mall near the CCTV headquarters and China Zun skyscraper, in Beijing's central business district (CBD), China September 7, 2023. REUTERS/Tingshu Wang//File Photo Acquire Licensing RightsOct 12 (Reuters) - China is considering creating a state-backed stabilization fund to shore up confidence in its equity markets, Bloomberg News reported on Thursday. The plan calls for the fund to have access to total capital of up to hundreds of billions of yuan, the report said, adding that implementation details have not been finalized and there could be a chance the proposal will be scrapped. This move comes as China's "Big Four" state banks said late on Wednesday that their controlling state parent shareholder Central Huijin Investment bought their Shanghai-traded shares, and plans to further increase its holdings in the next six months. Reporting by Jyoti Narayan in Bengaluru; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Jyoti Narayan, Sonali Paul Organizations: REUTERS, Bloomberg, Financial, China Securities Regulatory Commission, Central Huijin Investment, Thomson Locations: China, Beijing's, Shanghai, Bengaluru

☆ China issues legal guidelines to support private business
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

The guidelines issued by the Supreme People's Court, emphasized the legal protection of private firms and the "personality rights" of entrepreneurs, according to CCTV. Authorities will also crack down on infringements on the legitimate rights and interests of private firms, CCTV said, citing the guidelines. The guidelines also stressed the need to expand financing channels for small and medium-sized private firms and vowed to deal with illegal loans. China is seeking private investment for 4,894 major projects with total investment of 5.27 trillion yuan ($723 billion), after private investment shrank 0.7% in the first eight months of this year from a year earlier. Local governments struggling to balance budgets tend to favour cash-generating state-owned enterprises over their private sector competitors, S&P Global said.

Persons: Tingshu Wang, Ellen Zhang, Kevin Yao, Emelia Sithole Organizations: REUTERS, Rights, Supreme, Authorities, CCTV, P Global, Local, Thomson Locations: China, Beijing's, Rights BEIJING, COVID

☆ China's Dalian Wanda in talks to avert $4 bln IPO repayment -Bloomberg News
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: 1 min

A person walks past the headquarters of Dalian Wanda Group, in Beijing's Central Business District (CBD), China August 8, 2023. REUTERS/Tingshu Wang Acquire Licensing RightsSept 28 (Reuters) - China's Dalian Wanda Group has started negotiations on a proposal that would allow the conglomerate to avoid repaying about 30 billion yuan ($4.11 billion) to investors in its shopping mall business if the unit fails to complete its initial public offering this year, Bloomberg News reported on Thursday. The Chinese conglomerate recently told investors that an IPO of the mall unit will likely take place next year, Bloomberg reported, people familiar with the matter. (This story has been refiled to fix a typo in the headline)($1 = 7.3067 yuan)Reporting by Urvi Dugar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Urvi, Savio D'Souza Organizations: Dalian Wanda Group, Beijing's, Business, REUTERS, Bloomberg, Thomson Locations: China, Bengaluru

☆ China pledges to accelerate introduction of more economic policies
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

People stand at a shopping mall near the CCTV headquarters and China Zun skyscraper, in Beijing's central business district (CBD), China September 7, 2023. China will stick to deepening reforms and further opening up and will fully mobilize the enthusiasm of businesses, CCTV said. "China will accelerate the introduction of relevant policies and work implementation, as well as further consolidate the economy's upward trend," CCTV said. Feedback from an inspection and survey of the country's economic recovery was presented at the meeting, according to state media. Responding to the advice gathered during the survey, relevant government departments should make plans and carry out in-depth research considering 2024's economic work, the state media said.

Persons: Tingshu Wang, Premier Li Qiang, Yi Gang, Ellen Zhang, Liz Lee, Christina Fincher, William Maclean Organizations: REUTERS, Rights, Premier, People's Bank of China, Asian Development Bank, Thomson Locations: China, Beijing's, Rights BEIJING

☆ China should step up policy support for economy- ex-PBOC head
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Vehicles drive among the buildings during the evening rush hour in Beijing's central business area, China November 21, 2018. REUTERS/Jason Lee/File Photo Acquire Licensing RightsBEIJING, Sept 20 (Reuters) - China should step up policy support for the economy while promoting reforms to help achieve the annual growth target of around 5%, Yi Gang, former governor of the People's Bank of China (PBOC), said in remarks published on Wednesday. That will help China achieve the 2023 growth target of around 5%, Yi said. The government should move to boost the weak confidence of private firms and tackle local government debt risks that have hampered local authorities' ability to support growth, Yi said. The central bank should use its structural policy tools to support "rigid and improved housing demand", he said.

Persons: Jason Lee, Yi Gang, Yi, Kevin Yao, Chizu Organizations: REUTERS, Rights, People's Bank of China, Political Consultative, Thomson Locations: China, Rights BEIJING

☆ J.P.Morgan, ANZ raise 2023 China GDP forecast
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

People stand at a shopping mall near the CCTV headquarters and China Zun skyscraper, in Beijing's central business district (CBD), China September 7, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Sept 15 (Reuters) - J.P.Morgan and ANZ on Friday raised their 2023 economic growth forecast for China, after August economic numbers offered some signs of stabilization in the world's second-largest economy. Both raised their GDP forecast by 20 basis points each to 5% and 5.1% respectively, with JPM saying notable recovery in retail sales and rise in service activity were the biggest surprises. Zhu said additional fiscal and housing policy relaxation like subsidy for product-specific consumption support, relaxation of home buying restrictions, sales restrictions and price controls in tier-1 and 2 cities may follow in the near term. Goldman Sachs kept its third-quarter GDP growth forecast unchanged at 4.9% but said China's economy is still in a tug of war between persistent growth headwinds and increasing policy support.

Persons: Tingshu Wang, Zhu, JPM, Goldman Sachs, Aniruddha Ghosh, Liz Lee, Gao Liangping, Kim Coghill, Varun Organizations: REUTERS, Rights, ANZ, Thomson Locations: China, Beijing's, Rights BEIJING, Bengaluru, Beijing

A sign of Wanda is pictured at the headquarters of Dalian Wanda Group, in Beijing's Central Business District (CBD), China August 8, 2023. China's largest commercial property group has tapped Deutsche Bank for advice on the sale of Infront Sports & Media, the sources said, adding the process is in the early stages and could take months to complete. Headquartered in Switzerland, Infront's businesses include managing Italy's Serie A and the UK Premier League's international media rights, as well as event operations, media rights distribution and sponsorship sales. It raised $320 million through the partial sale of its entertainment unit Beijing Wanda Cultural Industry to pay it off. Spain's Mediapro, which manages international media rights for LaLiga, restructured 900 million euros in debt a year ago selling shares to investors including the group's majority shareholder Southwind.

Persons: Wanda, Tingshu Wang, China's, Wang Jianlin, Infront, Amy, Jo Crowley, Emma, Victoria Farr, Milana, Andres Gonzalez, Kane Wu, Clare Jim, Elisa Martinuzzi, Sharon Singleton Organizations: Dalian Wanda Group, Beijing's, Business, REUTERS, Reuters, Deutsche Bank, Infront Sports & Media, Serie, Premier League's, South East, Olympic Games, Beijing Wanda Cultural Industry, Infront, Companies, LaLiga, Thomson Locations: China, FRANKFURT, Switzerland, Central, South, South East Asia, Dalian, Beijing, Infront

☆ Jim Cramer: Our allies — and enemies — hold the keys to unlocking this market
▼ + stars: | 2022-11-27 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

What is confounding us has more to do with the actions of our allies and — just call it as we see it — our enemies. It's incredible how irrational it has all gone and how isolated China really turns out to be. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Mainland China's total daily Covid cases soar above Shanghai lockdown highs
▼ + stars: | 2022-11-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Kevin Frayer | Getty Images News | Getty ImagesBEIJING — Mainland China reported more than 31,000 Covid infections for Wednesday, including cases without symptoms. However, daily Covid infections with symptoms remain well below the high seen in April. Nearly 90% or more of total Covid cases reported in recent days have been asymptomatic, the data showed. But nearly all of China's 31 province-level regions have reported new Covid infections, with and without symptoms, each day. watch nowChina this month trimmed quarantine times and has announced other measures to try to make Covid controls more targeted.

☆ China to encourage more foreign investment in manufacturing industry
▼ + stars: | 2022-11-02 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: The sign of China World is seen near buildings in Beijing's central business area, China January 17, 2020. REUTERS/Jason LeeBEIJING (Reuters) - An official of China’s state planner said on Wednesday that the country’s foreign investment has increased steadily so far this year and that it will encourage more foreign investment in the manufacturing industry. Xia Qing was speaking at an APEC workshop on supply chains in Beijing. China’s foreign direct investment (FDI) rose 15.6% from a year earlier in the first nine months of the year to 1 trillion yuan ($138.52 billion) after a 16.4% growth in January-August, according to data from the Ministry of Commerce.

Search resuls for: "Beijing's Central Business"

15 mentions found