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[1/2] People buy food at stalls promoting China's digital yuan, or e-CNY, during the 2022 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Tingshu WangHONG KONG/SHANGHAI, Oct 27 (Reuters) - China's digital yuan took the centre stage in the world's largest cross-border central bank digital currency (CBDC) trial to date, a report showed, pointing to how Beijing is speeding up yuan globalization efforts amid rising geopolitical tensions. China's digital currency, or e-CNY, was the most issued, and actively transacted token in the $22 million pilot that used CBDCs to settle cross-border trades, a Bank of International Settlement (BIS) report showed. The PBOC's participation in m-Bridge represents its ambition to eventually promote global, wholesale use of the e-CNY. But China's yuan internationalisation, digital or not, faces challenges amid a slowing economy ravaged by COVID flare-ups, and a property debt crisis.

Europe has been the major beneficiary of China cutting its LNG imports in 2022, as the gas-starved continent has been able to buy both spot cargoes that China didn't take, as well as some contracted cargoes that China re-sold. Register now for FREE unlimited access to Reuters.com RegisterSuch a move will likely see China's LNG imports rise in coming months, but they are still likely to be below the levels that prevailed last winter. China has in past years increased LNG imports over the winter period by bidding for spot cargoes, with Kpler reporting imports of 7.01 million tonnes in November last year, 8.21 million in December and 7.18 million in January. Even though spot LNG prices in Asia have been dropping in recent weeks, they are still more than 50% above that level, meaning importing spot cargoes means heavy losses. For the early part of the upcoming winter, it may be the case that Europe doesn't buy heavily in the spot LNG market, meaning more cargoes will be available in Asia.

☆ HSBC hires Goldman Sach's Ma to lead North Asia global banking
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermidHONG KONG, Sept 27 (Reuters) - HSBC has appointed Goldman Sachs partner Christina Ma as its head of global banking for North Asia, according to a memo seen by Reuters. Ma will join the bank after 21 years with Goldman Sachs , most recently as its head of Greater China equities. He will leave HSBC on Nov. 1 after 27 years with the bank. Ma will remain based in Hong Kong, and starts her new role in the first quarter of 2023, the memo said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott Murdoch; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Airlines add flights to Hong Kong but the aviation hub won't be back to normal anytime soon
▼ + stars: | 2022-09-26 | by ( Michelle Toh | Cnn Business | ) edition.cnn.com time to read: +6 min

Hong Kong (CNN Business) International airlines are scrambling to add more flights to Hong Kong as the city ends two and a half years of quarantine measures , leading to a surge in demand for travel. This will absolutely increase the demand for travel to and from Hong Kong," Christoph Meyer, Lufthansa's general manager of sales for Hong Kong, Macao and South China, said in a statement. International Air Transport Association Director General Willie Walsh said last week that China's zero-Covid policy had "devastated" Hong Kong. Friday's news puts Hong Kong back on "the right track," said Dr. Kam Hung Ng, assistant professor of aviation engineering at the Hong Kong Polytechnic University. He told CNN Business that Hong Kong still had advantages that could allow its aviation industry to recover to pre-pandemic levels, "or even more."

☆ Hong Kong Covid: Airlines race to add flights to the city, reviving hopes for its recovery as an aviation hub
▼ + stars: | 2022-09-26 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN Business —International airlines are scrambling to add more flights to Hong Kong as the city ends two and a half years of quarantine measures, leading to a surge in demand for travel. “As Hong Kong’s home airline, we are fully committed to rebuilding the connectivity of the Hong Kong aviation hub,” it said in a statement. This will absolutely increase the demand for travel to and from Hong Kong,” Christoph Meyer, Lufthansa’s general manager of sales for Hong Kong, Macao and South China, said in a statement. International Air Transport Association Director General Willie Walsh said last week that China’s zero-Covid policy had “devastated” Hong Kong. Friday’s news puts Hong Kong back on “the right track,” said Dr. Kam Hung Ng, assistant professor of aviation engineering at the Hong Kong Polytechnic University.

☆ Australia's Scarborough project: Race and power collide in a fight over sacred rock art in remote Australia
▼ + stars: | 2022-09-23 | by ( Hannah Ritchie | ) edition.cnn.com time to read: +21 min

More than a million drawings are etched onto rocks on Murujuga peninsula on the Western Australia coast. Resources extracted from the region have powered Australia’s economy and helped create some of the world’s largest mining and energy multinationals. Today, the fight for Murujuga’s rock art reflects long-standing and unresolved issues of race and power. Woodside Petroleum's Pluto development on Murujuga, Western Australia, June 2008. Murujuga Aboriginal Corporation chief executive Peter Jeffries.

☆ Taiwan's currency is still dominated by the weakness in major North Asian ones, says UBS
▼ + stars: | 2022-09-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTaiwan's currency is still dominated by the weakness in major North Asian ones, says UBSTan Teck Leng of UBS Global Wealth Management says it expects the Chinese yuan to hit 7.2 over the coming months.

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