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☆ China Evergrande says its interests in land in Hong Kong sold for $637 mln
▼ + stars: | 2022-11-06 | by ( ) www.reuters.com time to read: 1 min

Nov 6 (Reuters) - China Evergrande Group said on Sunday its interests in a plot of undeveloped land for residential development in Hong Kong's Yuen Long district have been sold by its receivers for $636.94 million. The proceeds will be used to repay some of the company's financial obligations in relation to the project and a loss of about $770 million is expected to be recorded in respect of the project, the Chinese property developer said in a filing to the Hong Kong bourse. Saddled with more than $300 billion in total liabilities, the defaulted Chinese property developer has already seen many of its assets, both in mainland China and Hong Kong, seized by creditors. read moreReporting by Donny Kwok; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ HKMA buys HK$3.054 bln from market as currency weakens, aggregate balance below HK$100 bln mark
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

The action will bring the aggregate balance - the key gauge of cash in the banking system - below HK$100 billion. It will decrease to HK$96.977 billion on Tuesday, a Hong Kong Monetary Authority (HKMA) spokeswoman said on Saturday. The Hong Kong dollar is pegged to a tight band of between 7.75 and 7.85 versus the U.S. dollar. The HKMA has bought Hong Kong dollars worth about US$30.7 billion from the market through 40 rounds of intervention since the Federal Reserve began raising rates in March. Hong Kong rates, liquidity($1 = 7.8493 Hong Kong dollars)Reporting by Donny Kwok; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ HKMA buys HK$3.054 billion from market as currency weakens, aggregate balance below HK$100 billion mark
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

Web Summit, the sector’s annual bash held in Lisbon, is doing the opposite. And the usual welter of tech companies, investors and celebrities are still milling around. That new strain of reality-based tech investing has a lot further to go, though. The relative lack of investor focus at Web Summit on new technologies that could really move the dial, such as ways to ease climate change, is striking. The sector, Smith told Breakingviews, will increasingly “influence what people talk about and who comes to Web Summit”.

☆ Hong Kong central bank raises interest rate after Fed move
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: 1 min

HONG KONG, Nov 3 (Reuters) - The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 75 basis points to 4.25%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. Hong Kong's monetary policy moves in lock-step with the United States' as the city's currency is pegged to the greenback in a tight range of 7.75-7.85 per dollar. Reporting by Donny Kwok; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ HSBC raising best lending rate to 5.375% after Hong Kong rate hike
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: 1 min

HONG KONG, Nov 3 (Reuters) - HSBC Holdings (HSBA.L) said on Thursday it is raising its best lending rate in Hong Kong by 25 basis points to 5.375% effective Nov. 4 after the city's de facto central bank raised the base rate charged through its overnight discount window by 75 basis points. The Hong Kong Monetary Authority earlier on Thursday raised the base rate charged through its overnight discount window to 4.25% from 3.50%. read moreReporting by Donny Kwok; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Ocado’s South Korean deal is valuation rocket fuel
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

Shares in the 5.4 billion pound ($6.2 billion) online grocer surged almost 40% on Tuesday after it inked a new deal with South Korea’s Lotte Shopping (023530.KS). The warehouses could bring in about 2.1 billion pounds of annual sales when operating at full capacity, Numis analysts reckon. That implies about 100 million pounds of annual revenue, equivalent to 4% of sales in the last financial year. Most significantly, it shows that Steiner’s strategy of building warehouses for supermarkets worldwide may have legs. Steiner’s South Korean deal offers his company some valuation rocket fuel.

☆ COSCO Shipping says to buy $2.7 bln port assets from parent, in $2.9 bln ship building deal
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - COSCO Shipping Holdings Co Ltd said on Monday it has agreed to buy port assets from its parent for an aggregate 19.7 billion yuan ($2.7 billion) as it aims to build a global digital supply chain for its customers. The Chinese shipping group said it would buy 14.9% of Shanghai International Port (Group) (600018.SS) from its indirect controlling parent China COSCO Shipping Corp Ltd for 18.9 billion yuan, and a 3.2% stake in Guangzhou Port (601228.SS) for 778.7 million yuan. COSCO Shipping Holdings (601919.SS) also said it had entered into shipping contracts with China COSCO Shipping's Dalian COSCO KHI Ship Engineering to build five vessels for a total of $1.2 billion. Its unit Orient Overseas (International) Ltd (0316.HK) has entered into ship building contracts with Nantong COSCO KHI Ship Engineering to build seven vessels for a total $1.7 billion. read more($1 = 7.2499 Chinese yuan renminbi)Reporting by Donny Kwok; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Hong Kong Chief Executive John Lee delivers his first annual policy address at the Legislative Council in Hong Kong, China October 19, 2022. REUTERS/Tyrone SiuHONG KONG, Oct 19 (Reuters) - Hong Kong's Chief Executive John Lee said in his inaugural policy address on Wednesday that he wanted to bolster the city's competitiveness and attract more overseas talent, including graduates from top global universities. Lee, a former career policeman with limited financial expertise, also stressed in his speech that further safeguarding the city's national security would remain a priority, with more national security laws currently being explored. "Apart from actively nurturing and retaining local talents, the government will proactively trawl the world for talents," Lee said in his speech to local lawmakers. ($1 = 7.8499 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by James Pomfret, Clare Jim and Donny Kwok; Writing by James Pomfret; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

☆ Hong Kong leader John Lee delivers his maiden policy address
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +5 min

HONG KONG, Oct 19 (Reuters) - Hong Kong's new leader John Lee delivered his maiden policy address annual policy address on Wednesday, mapping out his priorities for the former British colony which returned to Chinese rule in 1997. - To set aside HK$30 billion from the Future Fund to establish the Co-Investment Fund for attracting enterprises to set up operations in Hong Kong and investing in their business. ECONOMY- To set up a new Hong Kong Investment Corporation Limited (HKIC) to further optimise the use of fiscal reserves for promoting the development of industries and the economy, and to attract and support more enterprises to develop their business in Hong Kong. - To develop Hong Kong into an international carbon market. - The Hong Kong Monetary Authority (HKMA) has begun the preparatory work for issuing "e-HKD" (e-Hong Kong dollar) and is collaborating with the Mainland institutions to expand the testing of "e-CNY" (e-Chinese yuan) as a cross-boundary payment facility in Hong Kong.

HONG KONG, Oct 18 (Reuters) - Hong Kong leader John Lee will on Wednesday deliver his inaugural policy address that is expected to focus on reviving the city's credentials as an international business hub and on housing after extended COVID lockdowns and political upheaval. "We are now embarking on a new chapter for further prosperity and this is a new phase for Hong Kong," Lee said. "Hong Kong has emerged from chaos to order, and now we're moving from order to prosperity," added Lee, referring to pro-democracy demonstrations in 2019. Beijing responded to the protests with a sweeping national security law in 2020, prompting an exodus of Hong Kong residents to countries including Britain, that offered "lifeboat" citizenship schemes in response to the law. On the issue of housing, Lee has vowed to be "pragmatic" in increasing land and housing supply.

LONDON, Oct 7 (Reuters Breakingviews) - For Masayoshi Son the biggest question is not where to list Arm, but when. Son is leaning towards listing Arm in the United States, home of big tech companies like Apple (AAPL.O) and Tesla (TSLA.O). One option would be for Arm to list in London while offering American Depositary Receipts to U.S. investors. Take a selection of U.S. and European chip companies which play different roles across the supply chain: Nvidia, Advanced Micro Devices , Intel (INTC.O), Rambus (RMBS.O) and ASML (ASML.AS). Son said there were also requests to list Arm in London without elaborating on where they came from.

☆ Wall Street titans to join Nov 2 summit in Hong Kong as COVID rules relaxed
▼ + stars: | 2022-09-29 | by ( Scott Murdoch | Donny Kwok | ) www.reuters.com time to read: +2 min

HONG KONG (Reuters) -The heads of some of the world’s top banks and asset managers will attend an investment summit in Hong Kong on Nov. 2, the city’s financial regulator said on Thursday, signalling a re-opening of the financial hub after strict pandemic-linked curbs. Goldman Sachs Group Inc CEO David Solomon, Citigroup Inc head Jane Fraser, Morgan Stanley boss James Gorman and BlackRock Inc President Rob Kapito will be among the speakers at the Global Financial Leaders’ Investment Summit, the Hong Kong Monetary Authority (HKMA) said. Hong Kong’s unrelenting COVID curbs have battered its economy and standing as a financial centre. Some banks had warned top bosses would not attend if any restrictions remained in place. HKMA Chief Executive Eddie Yue said on Thursday the final guidelines for those attending the summit were still being finalised.

Leapmotor raised $800 million, while Onewo raised $733 million from their initial public offerings(IPOs). Lithium battery maker CALB is finalising its $1.28 billion Hong Kong IPO and has priced its shares at HK$38 each, according to two sources with direct knowledge of the matter. Leapmotor and Onewo IPOs received a lukewarm response from the city's retail investors who did not take up the full amount of shares offered to them, according to the firms' filings. Leapmotor shares were priced at the low end of its marketed range, while Onewo shares were priced at the mid point of its indicated price range. read more($1 = 7.8498 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott Murdoch; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Wall Street backs Club holding Wynn Resorts as Macao tours from China get ready to reopen
▼ + stars: | 2022-09-26 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Club holding Wynn Resorts (WYNN) was among them, jumping more than 12%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. People use their smartphones to take photographs outside The Wynn Macau casino resort, operated by Wynn Resorts Ltd., in Macao, China, on Tuesday, Jan. 30, 2018.

☆ HSBC to raise best lending rate to 5.125% after HK rate hike
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterPedestrians wearing face masks following the coronavirus disease (COVID-19) outbreak, walk past a HSBC bank branch in Hong Kong, China February 22, 2022. REUTERS/Lam YikHONG KONG, Sept 22 (Reuters) - HSBC Holdings (0005.HK), said on Thursday it raised its best lending rate in Hong Kong by 12.5 basis points to 5.125% effective Sept. 23 after the city's central bank raised the base rate charged through its overnight discount window by 75 basis points. The Hong Kong Monetary Authority earlier on Thursday raised the base rate charged through its overnight discount to 3.50% from 2.75%. read moreHong Kong tracks U.S. interest rate moves because its currency is pegged to the U.S. dollar, although local banks have some leeway to lag U.S. moves when setting prime rates. Register now for FREE unlimited access to Reuters.com RegisterReporting by Donny Kwok and Selena Li; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Florence Lo/Illustration/File PhotoHONG KONG, Sept 21 (Reuters) - China's Tencent Music Entertainment Group (1698.HK) shares started trading at HK$18 ($2.29) each in the company's Hong Kong listing debut on Wednesday. The online music company announced last week that while New York would remain its primary listing venue it would start trading its shares in Hong Kong. Register now for FREE unlimited access to Reuters.com RegisterTencent Music said one of its U.S.-listed shares represented two of its Hong Kong shares. The two sides recently struck a deal to end the decade-long stand off and U.S. officials have arrived in Hong Kong to start reviewing U.S.-listed Chinese companies. ($1 = 7.8496 Hong Kong dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott Murdoch and Donny Kwok; Editing by Christian Schmollinger and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Hong Kong central bank raises interest rate after Fed hike
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterHONG KONG, Sept 22 (Reuters) - The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 75 basis points to 3.5%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. Hong Kong's monetary policy moves in lock-step with the United States as the city's currency is pegged to the greenback in a tight range of 7.75-7.85 per dollar. The Fed delivered its third straight rate increase of 75 basis points on Wednesday and signalled borrowing costs would keep rising, underscoring the U.S. central bank's resolve not to let up in its battle to contain inflation. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Donny Kwok and Selena Li; Editing by Editing by Christian Schmollinger and Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

A similar proposal failed last year, but as its woes worsen, Kaisa may reconsider. As with most holders of dollar bonds issued by Chinese developers, Kaisa’s investors are in a tough position. Register now for FREE unlimited access to Reuters.com RegisterBut this crisis looks more serious than 2015. Credit ratings agency Moody’s estimates property sales could contract another 20% by next June. Kaisa’s sales slumped 80% in the first eight months this year, per Chinese consultancy CRIC. Local governments are under increasing pressure from Beijing to ensure private developers’ stalled housing projects pre-sold to buyers are delivered to avoid social unrest.

☆ EXCLUSIVE Kaisa offshore creditors offer $2 bln to take over stalled projects - sources
▼ + stars: | 2022-09-19 | by ( Clare Jim | ) www.reuters.com time to read: +5 min

A sign of the Kaisa Holdings Group is seen at the Shanghai Kaisa Financial Centre, in Shanghai, China, December 7, 2021. It also comes as authorities are scrambling to contain a mortgage boycott by homebuyers against stalled projects. The offshore bondholder group, which is being represented by financial advisory group Lazard Ltd, made the offer to acquire Kaisa's stalled projects to the developer's advisor CITIC Securities, said the people. As most of Kaisa's projects are in top-tier Chinese cities, where housing prices are relatively resilient, bondholders expect to reap the profits after the completion of the stalled projects, said the two people. It is unclear how many stalled projects would be covered by the bondholder group's offer, and how many of them meet the purchase criteria laid out by the group.

☆ Exclusive: Kaisa offshore creditors offer $2 billion to take over stalled projects
▼ + stars: | 2022-09-19 | by ( Clare Jim | ) www.reuters.com time to read: +5 min

LONDON, Sept 13 (Reuters Breakingviews) - Rio Tinto’s (RIO.L), (RIO.AX) increasingly epic minority buyout saga may have a bit further to run. Rio only needs a simple majority of Turquoise’s minorities to simplify its Mongolian operations by controlling Turquoise outright. Rio can point to recessionary fears that have dampened the copper price to $3.7 a pound of late, and the project’s ongoing and significant investment requirements. Copper price graphicFollow @karenkkwok on Twitter(The author is a Reuters Breakingviews columnist. This is a “fraction” of the free cash flow Pentwater expects Turquoise Hill to generate over the next 10 years.

☆ La doar 18 ani are o avere de peste 3 miliarde de dolari. Topul celor mai bogați tineri din lume în anul 2021
▼ + stars: | 2021-04-08 | by ( Onixmedia Srl | ) diez.md time to read: +6 min

La doar 18 ani are o avere de peste 3 miliarde de dolari. Topul celor mai bogați tineri din lume în anul 2021Tradițional, în fiecare an, revista Forbes întocmește topul celor mai bogați oameni din întreaga lume. Cea mai tânără persoană din listă are 18 ani și o avere de peste trei miliarde de dolari. Alexandra este pasionată de hipism și a câștigat multiple premii și onoruri în competiții de dresaj de cai. Vezi aici și topul celor mai bogați oameni din întreaga lume în anul 2021.

Persons: Kevin David Lehmann, Lehmann, Werner, Guenther, Kevin David, Wang Zelong, Hua Yuan Titanium, Alexandra Andresen, Katharina Andresen, Alexandra, Katharina, Austin Russell, Russell, Universitatea Stanford . Russell, Gustav Magnar Witzoe, Gustav Magnar, Gustav, Andy Fang, Stanley Tang, Acum, Sam Bankman, Biden, Jonathan Kwok, Walter Kwok, Sun, Kai, Walter, Thomas, Raymond ., Jonathan, Geoffrey, Frații Organizations: Forbes, Wang, Hua Yuan Titanium Dioxide, Compania, Ferd Holdings, Universitatea Stanford, Volvo, Toyota, Universitatea Stanford ., ASA, Fang, Alameda Research, Empire Group Locations: Germania, Karlsruhe, China, Shenzhen, Norvegia, Gustav Magnar Witzoe, norvegian, Fang, DoorDash, New York, Hong Kong, Empire Group Holdings, SHKP

☆ Cold weather testing: Airplanes endure punishing extremes
▼ + stars: | 2014-02-04 | by ( Yenni Kwok For Cnn | ) edition.cnn.com time to read: +3 min

CNN —With extremely cold temperatures gripping much of the United States, travelers may be wondering how their planes are made safe for flying. Their mission was to see how their test plane, a long-range A350 XWB, withstood extreme cold. From cold to hotNew plane models undergo testing under extreme conditions before they're put into service. The cold-weather tests in Canada came only days after the MSN3 test plane completed high-altitude test in Bolivia. This kind of weather has made it an ideal spot to test aircraft.

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