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☆ Stefan Irvine’s photos capture the Hong Kong villages reclaimed by nature
▼ + stars: | 2024-02-13 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —Thick roots tumble across a dilapidated house, the snake-like trunks of a banyan tree framing where the front door once stood. “These villages have existed in Hong Kong for hundreds of years, way before the colonial period,” explained Irvine. In the 1950s and ‘60s, as Hong Kong grew as an industrial hub, many people migrated to the rapidly expanding urban centers for better working opportunities. Stefan Irvine / Courtesy Blue Lotus Gallery, Hong Kong“There were calendars on the wall, school certificates in drawers — it’s quite poignant,” said Irvine. Stefan Irvine / Courtesy Blue Lotus Gallery, Hong KongHeritage valueWhile most of the villages Irvine photographed are abandoned, he was surprised to discover not all were.

Persons: Stefan Irvine, ” Irvine, “ It’s, ”, “, Irvine, Wong Chuk, Lai Chi Wo, they’ll, Tung Ping Chau, Yim Tin Tsai, Luk Keng, Lai, they’ve, Hong, Wo Organizations: Hong Kong CNN, steely, Hong, HK, Irvine, Blue Lotus Locations: Hong Kong, Malaysian, India, Irvine, New Territories, Accounting, Hong Kong’s, London, Tai Peng, Lamma, Lai Chi, Queen's Hill, Fanling, Tung, Shenzhen, China, “, Mau, Lai, Hong

☆ As the Year of the Dragon begins, the pros name sectors — and stocks — to play the Chinese market
▼ + stars: | 2024-02-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +6 min

Chinese stocks had an eventful week last week — with the benchmark Shanghai Composite Index hitting a five-year low of about 2,650 points on Feb. 5, before edging up to end the week at 2,865.90. A slide in Hong Kong-listed Chinese shares on Feb. 9, however, proved that investors may still have lingering concerns on the prospects of Chinese stocks in the new year. As the festive season gets underway, Redmond Wong, market strategist at investment firm Saxo, sees several opportunities to play the market. Boom in green transformation Beyond the traditional sectors, Saxo's Wong is watching an up-and-coming area in China: energy security and a green transformation. Data from the International Energy Agency shows that the Asian giant's clean-energy sectors contributed 11.4 trillion Chinese yuan ($1.6 trillion) to the Chinese economy in 2023, up 30% year-on-year.

Persons: Redmond Wong, Saxo, I'm, Wong, Saxo's Wong, Morningstar, Zijin Organizations: CNBC Pro, Monetary Fund, Technology, Shenzhen, Baidu, Sands, Tsingtao, Morningstar, Tsingtao Brewery, International Energy Agency, Companies, Zijin Mining Locations: Shanghai, Hong Kong, China, Zhejiang, Sands China, Macao, Shandong

☆ Chinese and Indian companies are about to be hit by sanctions because of their ties to Russia, reports say
▼ + stars: | 2024-02-13 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

The European Union wants to sanction three Chinese companies for supporting Russia, according to reports. This would mark the first time the bloc has sanctioned Chinese and Indian businesses since the invasion of Ukraine. AdvertisementThe European Union wants to sanction three Chinese companies due to their ties to Russia, according to reports by Bloomberg and the Financial Times . In April 2023, European Commission president Ursula von der Leyen traveled to Beijing to warn China’s leader Xi Jinping not to support Russia’s war efforts. "This visit is taking place in a challenging and increasingly volatile context, in particular because of Russia's war of aggression against Ukraine," she said in a press conference .

Persons: —, hasn’t, Ursula von der Leyen, China’s, Xi Jinping, von, Leyen Organizations: European Union, Bloomberg, Service, Union, Financial Times, EU, Kremlin, Moscow, European Locations: Russia, Hong Kong, India, Serbia, Turkey, Ukraine, Kazakhstan, Sri Lanka, Thailand, EU, China, Beijing

☆ Growing quant giant Qube just added a fundraiser focused on Asian investors
▼ + stars: | 2024-02-12 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

This story is available exclusively to Business Insider subscribers. Sources familiar with the firm's plans told Business Insider that it hopes Hirazumi will help bring in assets to the firm’s China strategy. The manager has four Asian offices listed on its website, including one in mainland China in Shanghai, plus others in Hong Kong, Singapore, and Mumbai. It helps that performance has been stellar: The manager is already up roughly 10% through January this year, Business Insider previously reported . Another Millennium spin-out, Kurt Baker’s 30th Century Partners, is planning to start trading this year with $3 billion out of Hong Kong, according to a Bloomberg report.

Persons: Noriaki Hirazumi, Qube, Hirazumi, Ray Dalio, Blackstone, Jonathan Xiong, Kurt Baker’s Organizations: Research, Technologies, General Investment, London, Winton Group, Business, Credit Suisse, Public, Tiger, Investment Partners, Century Partners, Bloomberg Locations: Asia, London, Japan, China, Shanghai, Hong Kong, Singapore, Mumbai, Qube, Bridgewater

☆ I studied at Yale and Cambridge University. The elite colleges offered me secret societies, maids, and formal balls.
▼ + stars: | 2024-02-11 | by ( Connie Cheung | ) www.businessinsider.com time to read: +5 min

For my undergraduate degree, I went to Yale, and then for graduate school, I enrolled in Cambridge University. Dreary and massive, these buildings belonged to Yale’s oldest secret societies — hundreds of years old, with members including former presidents, Rockefellers, and Vanderbilts. As George Bush wrote in his memoir, “[In my] senior year, I joined Skull and Bones, a secret society; so secret, I can’t say anything more.”In my final year, I joined a secret society at Yale, which was founded 20 years ago. But my favorite memories at Yale and Cambridge were never at events in floor-length gowns or strappy heels. I’m tremendously lucky to have experienced this universe of elite education, and I wouldn’t have it any other way.

Persons: —, sommeliers, George Bush, wouldn’t, England, smartly, John’s, Ball, Pictionary Organizations: Service, Yale, Business, Cambridge University, New, Cambridge, Trinity College, Time Locations: Hong Kong, Vermont, New Haven, Cambridge, poshness, St

☆ Coldplay has a request: They really, really want to play in China
▼ + stars: | 2024-02-10 | by ( Heather Chen | ) edition.cnn.com time to read: +10 min

He really, really wants to play in China. “I promise we’ll play in China one day,” Martin said to the screaming crowd when he invited two lucky fans up on stage. “You know, we can’t get the permission (to play in China),” he told concertgoers. Chris Martin and Coldplay aren’t alone in wanting to serenade mainland Chinese audiences. Chinese authorities have also been known to vet the content of shows, including setlists and lyrics.

Persons: Hong Kong CNN — Coldplay, Chris Martin, “, ” Martin, don’t, Coldplay, ”, Martin, concertgoers, “ Coldplay, China …, Paul Kane, Coldplay aren’t, Jon Bon Jovi, Jovi, Bon Jovi’s, Lama, Xi Jinping, –, Xi, Golshifteh Farahani, “ Young, Bjork, Justin Bieber, Katy Perry's, Sam Yeh, Katy Perry, Madonna, James Hetfield, we’re Organizations: Hong Kong CNN, CNN, Coldplay, Tourism Ministry, Oasis, Communist Party, China’s Communist Party, Tibet, Municipal, of Culture, Getty, Taiwan, Chinese Culture Ministry, South China Morning Locations: Hong Kong, Thailand, China, Guangzhou, British, Asia, Tokyo, –, Beijing, Shanghai, Macao, Covid, Bangkok, Singapore, Kuala Lumpur, Worth, Iranian, Buenos Aires, Iran, Taipei, AFP, Taiwan

☆ Chinese city cancels Argentina soccer match after Messi backlash in Hong Kong
▼ + stars: | 2024-02-09 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A city in mainland China has canceled its plan to host a soccer match featuring Argentina’s national team amid a growing backlash in the country against star player Lionel Messi. Messi has faced an outpouring of criticism after he remained on the bench during an exhibition game featuring his Major League Soccer team Inter Miami in Hong Kong. Public relations nightmareMessi stayed on the substitute bench when Inter Miami played the Hong Kong team on February 4, despite repeated requests from the Hong Kong government and organizer, Tatler Asia, for him to get on the field. Messi later said this had been a “shame,” and that he had wanted to participate. “Our aspiration was to create an iconic moment in support of the government’s efforts to remind the world how relevant and exciting Hong Kong is.

Persons: Lionel Messi, Messi, jeered, hasn’t, XFEST, ” Organizations: Hong Kong CNN, Argentina’s, Major League Soccer, Inter Miami, Hangzhou Sports Bureau, Hangzhou Olympic Sports, Argentina, Beijing Workers, Hong Kong, Hong, Tatler Asia, Vissel Locations: Hong Kong, China, Hangzhou, Argentina, Nigeria, Ivory, Vissel Kobe, Japan, Beijing, Asia

Tickets for the game cost up to 4,880 Hong Kong dollars ($624) each. In its statement, Tatler Asia said it would refund 56 million Hong Kong dollars ($7.2 million) in total, resulting in a loss of 43 million Hong Kong dollars ($5.5 million). Before the refund, its net income stood at 13 million Hong Kong dollars ($1.7 million), the organizer said. In response to the announcement, the Hong Kong government welcomed the arrangement in a statement, calling it as a responsible move. “One theory is that their actions have political motives, as Hong Kong intends to boost economy through the event and external forces deliberately wanted to embarrass Hong Kong through this incident,” it said.

Persons: Lionel Messi, Messi, Messi’s, “, Regina Ip, “ Messi, Hong Kongers, ___ Organizations: Inter, Global Times, Tatler Asia, Tatler, Hong Kong, Hong, Inter Miami, Associated Press, Weibo, Messi, ”, Executive, Miami, Newell’s Old Locations: HONG KONG, Hong Kong, China, Argentina, Tokyo, Asia, Japan, Tatler Asia, Inter Miami, Beijing, Regina, Weibo, El Salvador, Dallas, Saudi Arabia, Florida, Rosario

☆ Opinion | The Year of the Dragon Plant
▼ + stars: | 2024-02-09 | by ( Bonnie Tsui | ) www.nytimes.com time to read: +1 min

We call it the mother plant, and, like my gung gung, it’s always been there. My grandfather’s name was Suey Lin Dong; gung gung is Cantonese for maternal grandfather. As a gesture of housewarming, his own mother gave him a dracaena plant; with his attention, it bloomed, sprouted new branches, bloomed again. In this time of grief, we piece together the story of the mother plant. Dracaena comes from the Greek drakaina, for dragon; in some species, cutting the bark secretes a red medicinal resin, known as dragon’s blood.

Persons: it’s, Suey Lin Dong, gung gung, bloomed, Dracaena Locations: New York City, Hong Kong, Chinatown, Flushing , Queens

☆ China’s VC playbook is undergoing a sea change as U.S. IPO exits get tougher
▼ + stars: | 2024-02-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

That's far less than in the previous years — the share of U.S. dollars in total VC funds raised was around 15% for the years 2018 to 2021, the data showed. China investments, China exitsWashington and Beijing in 2022 resolved a long-standing audit dispute that reduced the risk of Chinese companies having to delist from U.S. stock exchanges. "With U.S. IPOs no longer being a viable exit strategy for China assets, investors should target local exits in their respective capital markets—in other words, China exits for China assets, and U.S. exits for overseas assets," Liao said. The 20 largest VC deals for China-headquartered companies in 2013 were predominantly in e-commerce and software services, according to PitchBook data. ... the venture capital scene has become even more state-concentrated and focused on government priorities.

Persons: China’s renminbi, Athit Perawongmetha, Kyle Stanford, China —, Liao Ming, Stocks, Liao, Didi, Beijing's, Camille Boullenois Organizations: Reuters, Reuters BEIJING — Venture, Liao Ming, U.S, Sequoia, Prospect, Capital, New York Stock Exchange Locations: U.S, Bangkok, Thailand, Reuters BEIJING, China, Sequoia, Washington, India, Japan, Greater China, Beijing, New York, Hong Kong, U.S . Washington

☆ Alibaba shares sink after it shelves IPO plans for two units
▼ + stars: | 2024-02-08 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Shares in Alibaba sank as much as 7% in Hong Kong on Thursday, after the Chinese tech giant reported disappointing sales figures and announced it would suspend listings plans for two of its units. The news comes at a tough time for the tech giant. In December, the company reshuffled its top ranks after the stellar performance of a competitor caused a stir at Alibaba. The company’s announcement of a $25 billion share repurchase program, which it said demonstrated its confidence in its business and cash flow outlook, also failed to ignite interest among investors. Alibaba shares in New York closed 5.9% lower on Wednesday.

Persons: Joseph Tsai, ”, Alibaba, Jack Ma, PDD, Alicia Yap, Ma, —, Laura Organizations: Hong Kong CNN —, Cainiao, Reuters, Refinitiv, ” Citi Locations: China, Hong Kong, Alibaba, New York

☆ Messi’s ‘miracle’ return stirs Chinese anger and conspiracy theories
▼ + stars: | 2024-02-08 | by ( Simone Mccarthy | Chris Lau | ) edition.cnn.com time to read: +10 min

“(He) played in five of the six preseason games and only missed the game in Hong Kong, China! Don’t come to China, China doesn’t welcome you,” another user wrote in a post liked by 20,000 others. “Why didn’t Messi play in Hong Kong or participate in the handshake with HK (the Hong Kong) chief executive? Messi's no-show sparks an outcry in Hong Kong on February 4, 2024. One social media user noted that it was not only Messi who played in Tokyo, but not Hong Kong.

Persons: Lionel Messi, Messi didn’t, Messi, “ Messi, Hong Kong, Kenneth Fok, Hu Xijin, didn’t Messi, ” Hu, ”, Louise Delmotte, “ Don’t, Hong, David Beckham, Beckham, Gerardo “ Tata ” Martino, Luis Suárez couldn’t, Philip Fong, “, nimbly, Regina Ip, ” “ Messi, Kenneth Chan, Taylor Swift, ’ Organizations: Hong Kong CNN, Sunday, Major League Soccer, Inter Miami, Vissel, Hong, CNN, Weibo, HK, Global Times, Inter, National Basketball Association, Houston Rockets, Soccer, Ardent, Messi, Argentina national, Australia, Inter Miami's, Getty, The Inter Miami, Hong Kong Baptist University Locations: China, Hong Kong, Argentine, Japan, Vissel Kobe, Tokyo, Beijing, State, China’s Sichuan, Argentina, AFP, Asia

CNN —Inter Miami star Lionel Messi returned to action on Wednesday in a match against Vissel Kobe in Tokyo, though Chinese fans remain upset that the star did not play in Sunday’s game in Hong Kong. “Hello to all my fans in mainland China and Hong Kong! Philip Fong/AFP/Getty ImagesDuring Wednesday’s game against Vissel Kobe, Messi was brought on for David Ruiz as a second-half substitute. Fans in Hong Kong booed and called for ticket refunds due to Messi’s non-appearance in Sunday’s game, and even the Hong Kong government shared its dismay that the forward had not taken to the field. Luis Suárez, Messi former teammate at Barcelona, was also sidelined with an injury in Hong Kong but played 75 minutes for Miami against Vissel Kobe.

Persons: Lionel Messi, “, ” Messi, Messi, Vissel Kobe, Philip Fong, David Ruiz, Luis Suárez Organizations: CNN — Inter Miami, Vissel, Weibo, Messi, Vissel Kobe, Miami, Hong, Barcelona Locations: Vissel Kobe, Tokyo, Hong Kong, China, Sichuan, Weibo, AFP, Japan

☆ What’s in Our Queue? Mahjong and More
▼ + stars: | 2024-02-07 | by ( Alexandra Stevenson | ) www.nytimes.com time to read: 1 min

What’s in Our Queue? Mahjong and MoreI’m the Shanghai bureau chief for The New York Times, and I’m currently based in Hong Kong while I wait for my visa. Here are five things I’ve been reading, playing, listening to and watching →

Persons: I’m, → Organizations: The New York Times Locations: Shanghai, Hong Kong

TOKYO (AP) — Asian shares were mostly higher Wednesday, tracking gains on Wall Street, although Tokyo's benchmark slipped slightly. Those developments had pushed Chinese shares, including those in Hong Kong, sharply higher on Tuesday. The mostly small cap stocks traded in the southern Chinese market of Shenzhen were up 1.4%, and the CSI 1000, an index that tracks highly volatile “snowball derivatives" was up 4.2%. Wall Street drifted higher through a quiet Tuesday as the bond market calmed following some sharp swings. In the bond market, the yield on the 10-year Treasury relaxed following its slingshot ride higher in recent days.

Persons: Xi Jinping, Seng, Australia's, Korea's Kospi, Brent Organizations: TOKYO, Hong, CSI, Nikkei, Toyota Motor Corp, Dow Jones Industrial, Nasdaq, Federal, GE Healthcare Technologies, Palantir Technologies, FMC, CVS Health, Walt Disney Co, PepsiCo, Treasury, U.S Locations: U.S, Shanghai, Shenzhen, Hong Kong, Asia, Brazil

After a 0-0 draw in regulation, the match went to penalty kicks and Vissel won the shootout 4-3. But it wasn't close to the level of booing that broke out in Hong Kong after Messi stayed on the bench for the entire game with a groin injury. The match in Tokyo wrapped up Inter Miami's global promotional tour — stretching from El Salvador to Dallas into Saudi Arabia and Hong Kong and ending in Tokyo. Inter Miami is loaded with former Barcelona players including Messi, Luis Suarez, Jordi Alba, and Sergio Busquets. Andres Iniesta, another former Barcelona star, played several seasons in Japan with Vissel Kobe and spoke briefly to the crowd before the match.

Persons: Lionel Messi, Messi, Vissel, Luis Suarez, Jordi Alba, Sergio Busquets, Andres Iniesta, ___ Organizations: TOKYO, Wednesday, Inter, Tokyo’s, Miami, Newell's Old, Inter Miami, Barcelona, Vissel Locations: Hong Kong, Tokyo, Asia, Kobe, Argentina, El Salvador, Dallas, Saudi Arabia, Florida, Rosario, Barcelona, Japan, Vissel Kobe

☆ Investors are hoping the power of Xi's personal attention will rescue China's floundering markets
▼ + stars: | 2024-02-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Markets have rallied on the news as it's stoking hopes that China will roll out a forceful rescue plan. China and Hong Kong's stock markets have lost nearly $7 trillion from their peaks in 2021. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The plan is to brief the country's top leaders about the state of the markets, Bloomberg reported, citing unnamed people with knowledge of the matter. But some analysts see these moves as less powerful than Xi's personal participation in stabilizing the markets — even though it's unclear if any new support measures will result from the meeting, Bloomberg reported.

Persons: Xi Jinping, it's stoking, —, Hang Seng, Xi, Li Weiqing, Li Organizations: Bloomberg, Markets, Service, China Securities Regulatory Commission, Hang, CSI, ING, Investment Management, Business Locations: China, Hong, Hong Kong, Beijing, Singapore

☆ Lusail, Qatar, will get a five-story museum inspired by Muslim architecture and culture
▼ + stars: | 2024-02-06 | by ( Callum Sutherland | ) edition.cnn.com time to read: +7 min

Look through the gallery to see more renderings of Lusail Museum. Herzog & de Meuron Lusail Museum will be 30 meters tall, and have a footprint of 11,000 square meters. Herzog & de Meuron Lusail, Qatar, will get a five-story museum Prev NextEditor’s Note: This CNN Travel series is, or was, sponsored by the country it highlights. Set to begin construction later this year, the Lusail Museum will be 30 meters (98 feet) tall, spread over five levels. “It has to be like this, to have this richness and diversity.”For Herzog, the legacy of Lusail Museum is one of the main considerations behind its design.

Persons: Herzog, de Meuron, de, Jacques Herzog, Lusail, ”, “, ” Herzog Organizations: CNN, Lusail Museum, Herzog, Swiss, Lusail, Pérez Art Museum, Beijing National, Tate Locations: Lusail, Qatar, Al Maha Island, Zaragoza, Spain, “ City, Qatar’s, Doha, Hong Kong, Miami, London, Lusail’s, Maha, North Africa, Istanbul, Cairo, Isfahan, Iran, Al Maha, Ukraine, Israel

TOKYO (AP) — Look for Lionel Messi to play in Wednesday's friendly in Tokyo with Inter Miami facing Japanese club Vissel Kobe. He sat alone on a stool on stage, wore a pink warm-up jacket, and showed a bit of humility. But I feel much better and I really want to be able to do it.”Messi tried to explain to Hong Kong fans, saying it was impossible for him to play with a groin injury. Through five games from El Salvador, to Dallas, to Saudi Arabia and Hong Kong, Inter Miami has won only once and has been outscored 12-7. “I hope we can return and we can play another game and I can be present,” he said.

Persons: Lionel Messi, refeunds, Luis Suarez —, —, Messi, Andres Iniesta, ” Messi, ”, Suarez, Mark Conrad, ” Conrad Organizations: TOKYO, Inter Miami, Vissel Kobe, Hong Kong, Kobe, ” Inter, Tokyo Olympics, Fordham University's Gabelli School of Business, Associated Press Locations: Tokyo, Barcelona, Japanese, Hong Kong, El Salvador, Dallas, Saudi Arabia

☆ China is pumping money into stocks and markets are loving it
▼ + stars: | 2024-02-06 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The Shanghai Composite, mainland China’s benchmark index for large state-owned companies and blue-chip stocks, ended up 3.2% on Tuesday, ending a six-day losing streak. By Monday, about $6.1 trillion in market value had been wiped from the Chinese and Hong Kong stock markets since their recent peaks in February 2021. Central Huijin Investment, the equity arm of state-owned China Investment Corp, announced Tuesday that it had recently expanded its holdings of exchange-traded funds (ETFs) on mainland stock markets. The intensified efforts came after Chinese markets resumed their slide on Monday, when more than 1,800 stocks fell by more than 10% in Shanghai and Shenzhen. Tuesday’s rally in China was in contrast to other markets in the region.

Persons: “, Australia’s, Evergrande, Anna Cooban Organizations: Hong Kong CNN, Alibaba, Huijin Investment, China Investment Corp, China Securities Regulatory Commission, Central Huijin Investment, Embassy, Nikkei, Kospi Locations: China, Hong Kong, Shanghai, Shenzhen, Europe, Beijing, United States

☆ Lionel Messi expresses regret over not being able to play in Hong Kong
▼ + stars: | 2024-02-06 | by ( Teele Rebane | ) edition.cnn.com time to read: +1 min

CNN —Argentine soccer star Lionel Messi expressed regret Tuesday over not being able to play in a friendly match in Hong Kong. Messi, who plays for Major League Soccer team Inter Miami, did not step onto the pitch to play against a Hong Kong XI on Sunday, causing outrage among fans. A sellout crowd of 40,000 attended the match in Hong Kong, but the occasion ended acrimoniously when fans booed, jeered and called for ticket refunds as Messi remained on the bench. Even the Hong Kong government said it was “disappointed” that the eight-time Ballon d’Or winner wasn’t brought on during the match. Messi added that he could understand why people were upset that he had not participated in the match, but expressed hope that Miami could play in Hong Kong again at some point.

Persons: Lionel Messi, Messi, ” Messi, clamoring, jeered, ”, Ballon, wasn’t, Gerardo “ Tata ” Martino, Luis Suárez Organizations: CNN, Major League Soccer, Inter Miami, Hong, Hong Kong XI, Inter, Miami, Wednesday, Vissel Locations: Argentine, Hong Kong, Tokyo, Kobe, Vissel Kobe

☆ Hong Kong government may cut support funding after Messi did not play in friendly match
▼ + stars: | 2024-02-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

HONG KONG, CHINA - FEBRUARY 04: Fans react after not seeing Inter Miami's Argentine forward Lionel Messi play during the friendly match between Hong Kong Team and Inter Miami CF at Hong Kong Stadium on February 4, 2024 in Hong Kong, China. The Hong Kong government said it may cut funding for a friendly match after soccer legend Lionel Messi did not take the pitch on Sunday. The Miami Herald reported that Messi had an MRI last week ahead of a friendly match in Saudi Arabia. The friendly match had been awarded "M" Mark status which is granted to major sporting events held in the city. Hong Kong said it had awarded the event a matching grant of 15 million Hong Kong dollars ($1.9 million) and a venue grant of HK$1 million.

Persons: Lionel Messi, Messi Organizations: Inter Miami's Argentine, Hong Kong Team, Inter Miami CF, Hong Kong, Hong, Major League Soccer, Inter Miami, Argentine, Miami Herald, Florida, China, HK Locations: HONG KONG, CHINA, Hong Kong, China, ., Saudi Arabia

☆ Hong Kong officials demand answers for Lionel Messi no-show
▼ + stars: | 2024-02-05 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —The Hong Kong government’s repeated requests for Lionel Messi to play in a sell-out soccer match went unanswered Sunday, a city official said, as cheers turned to jeers for the Argentine soccer legend. Meanwhile, the Hong Kong government, which provided more than $2 million in grants to the match organizer, also said it was “extremely disappointed” the star did not play. Fans make their feelings clear after Lionel Messi's Hong Kong no-show. ‘We do feel a bit scammed’“Messi mania” had captured Hong Kong with Inter Miami’s arrival on Friday as fans swarmed the Major League Soccer team’s hotel. Meanwhile, the stadium reached full capacity during the Inter Miami’s open training session the evening before the match.

Persons: Hong Kong government’s, Lionel Messi, jeers, –, Messi, Ballon, Kevin Yeung, XFEST, Lionel Messi's, Justin Chin, Yeung, “, ” Yeung, Gerardo “ Tata ” Martino, ‘, ’ “ Messi, ”, Ada Kam, Luis Suárez Organizations: Hong Kong CNN, Hong Kong, Inter Miami’s, Hong, Hong Kong XI, Culture, Bloomberg, Getty, Inter, Major League Soccer team’s, CNN, Nigeria Locations: Hong Kong, Hong, Argentine, Lionel Messi's Hong Kong, Miami, Inter Miami’s, Tokyo, China, Argentina, Hangzhou, Ivory Coast, Beijing

☆ Estee Lauder to cut jobs on delayed China recovery; shares surge 16%
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: +2 min

Pedestrians walk past the American multinational skincare, and beauty products brand, Estée Lauder (Estee Lauder) logo seen in Hong Kong. Shares were up 16% in early trading after the company also handily beat second-quarter profit estimates. Estee also cut its annual profit forecast for a second time as its U.S. business slowed down, with a post-pandemic spending spree sputtering. Organic net sales in the Americas fell 1% in the quarter, compared to the 6% growth in the prior quarter. Estee now expects full-year 2024 adjusted profit per share between $2.08 and $2.23, compared with $2.17 to $2.42 earlier.

Persons: Estée Lauder, Estee Lauder, Richemont, Bernstein, Callum Elliott, Estee, Javier Gonzalez Lastra Organizations: MAC, Cartier, Burberry, Tema Locations: American, Hong Kong, China, Asia, Pacific, Americas

☆ US sends top Treasury officials to China to discuss economy
▼ + stars: | 2024-02-05 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —A team of five US Treasury Department officials is traveling to Beijing this week for a series of meetings on the economy with their counterparts in China, a Treasury official told CNN on Monday. The trip by senior officials comes ahead of a planned return to China by Treasury secretary Janet Yellen later in 2024. Specifically, the Treasury delegation plans to raise China’s use of non-market economic practices and industrial overcapacity, the official said. The visit marks the first time that the economic working group is meeting in Beijing since it was launched last September after Treasury Secretary Janet Yellen’s trip to China. However, there is nothing to suggest the latest US-China meeting is in direct response to the renewed concerns about China’s economy and financial markets.

Persons: New York CNN —, Janet Yellen, Jay Shambaugh, Donald Trump, Yellen, Janet Yellen’s, ” Yellen, “, Jerome Powell, ”, Powell, ” Powell Organizations: New, New York CNN, US Treasury Department, Treasury, CNN, Shanghai, Weibo, The New York Times, China Business Council’s, Federal, United Locations: New York, Beijing, China, Treasury’s, Washington, Hong Kong, Evergrande, United States

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