DIRS.INFO The most relevant business & tech news

☆ Hong Kong hunkers down as super Typhoon Saola approaches
▼ + stars: | 2023-09-01 | by ( ) www.cnbc.com time to read: +1 min

8 storm signal raised for Super Typhoon Saola in Hong Kong, China, on Sept. 1, 2023. Hong Kong braced for the arrival of super typhoon Saola on Friday as authorities raised the strong wind signal to No.8, bringing the city to an effective standstill with most businesses, schools and the stock exchange shut. Saola is expected to skirt within 100km (60 miles) of Hong Kong on Friday night and Saturday morning, causing weather conditions to deteriorate rapidly, the city's weather observatory said. Hong Kong has five rankings for typhoons, 1, 3, 8, 9 and 10, which is the strongest hurricane signal. All schools in Hong Kong will be closed on Friday, despite being the first day of term for many, the government said.

Persons: Hong Kong Organizations: Super Locations: Hong Kong, China, Guangdong, Hong

People represent different countries during seminars on conflict scenarios with China, organised for youth by the Kuomintang (KMT) party, in Taipei, Taiwan May 21, 2023. Younger voters are again playing a role - but this time they are gravitating to dark horse candidate who has become the DPP's closest challenger. Ko Wen-je, a 64-year-old former Taipei mayor, has won over many younger voters with plain talk on issues such as high housing costs rather than focusing on the China threat. Some younger voters may show their hands late, so Ko's appeal to that demographic could close the gap with Lai. Although it may have a healthy lead in opinion polls, the DPP is acutely aware of the dangers of losing younger voters.

Persons: Ann Wang, Tsai Ing, William Lai, Ko Wen, Ko, Lai, Terry Guo, Chen Kuang, Chen, Hou Yu, Mao Zedong's, Ho Chih, yung, Ho, Zheng De, Zheng, Sarah Wu, Yimou Lee, Ben Blanchard, John Geddie, Gerry Doyle Organizations: Kuomintang, KMT, REUTERS, Rights, United States, Democratic Progressive Party, Taiwan People's Party, Taiwanese Public, DPP, Apple, Chung Cheng, Taiwan's, ih, Reuters, Thomson Locations: China, Taipei, Taiwan, Rights TAIPEI, Beijing, United, Hong Kong, Lai, Chung Cheng University

☆ 'Altcoins' central to Hong Kong crypto firm Hashkey’s first liquid fund
▼ + stars: | 2023-08-31 | by ( Summer Zhen | ) www.reuters.com time to read: +2 min

The fund, run by the investment arm of Hong Kong crypto giant Hashkey Group, launches on Friday. Less than 50% of its investments will be in Bitcoin and Ethereum , the two biggest crypto currencies. The asset manager will leverage its crypto venture investment experience to diversify allocations to smaller rivals collectively known as "altcoins", Zheng said. Hashkey Capital, which manages over $1 billion in assets, earlier said it aimed to raise $100 million for the fund over 12 months. Zheng said Hashkey Capital is also developing distribution channels with some offshore Chinese financial institutions, adding that weakness in the Hong Kong stock market has also pushed investors to look for diversified strategies.

Persons: Dado Ruvic, HONG KONG, Bitcoin, Jupiter Zheng, Zheng, Summer Zhen, John Stonestreet Organizations: REUTERS, Hashkey Capital, Reuters, Hashkey, Hong, Thomson Locations: HONG, Hong Kong, Bitcoin

☆ Hong Kong hunkers down as super typhoon Saola approaches
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] A girl reads a book at a bookstore, which windows are taped in anticipation of typhoon Saola in Hong Kong, China August 31, 2023. REUTERS/Tyrone Siu Acquire Licensing RightsHONG KONG, Sept 1 (Reuters) - Hong Kong braced for the arrival of super typhoon Saola on Friday as authorities raised the strong wind signal to No.8, bringing the city to an effective standstill with most businesses, schools and the stock exchange shut. Saola is expected to skirt within 100km (60 miles) of Hong Kong on Friday night and Saturday morning, causing weather conditions to deteriorate rapidly, the city's weather observatory said. Hong Kong has five rankings for typhoons, 1, 3, 8, 9 and 10, which is the strongest hurricane signal. All schools in Hong Kong will be closed on Friday, despite being the first day of term for many, the government said.

Persons: Tyrone Siu, Hong Kong, Farah Master, Ben Blanchard, Lincoln Organizations: REUTERS, Tyrone, Supermarkets, Kong's, Cathay Pacific, Weather Bureau, Thomson Locations: Hong Kong, China, HONG KONG, Guangdong, Hong, Wan Chai district, Taiwan, Fuzhou, Taipei

☆ Country Garden warns of default risks, 'deeply remorseful' for record loss
▼ + stars: | 2023-08-30 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

A view of the construction at the Country Gardens' Forest City project in Johor Bahru, Malaysia February 21, 2017. REUTERS/Edgar Su/File photo Acquire Licensing RightsHONG KONG, Aug 30 (Reuters) - China's largest private property developer warned on Wednesday of default risks if its financial performance continues to deteriorate, and said it "felt deeply remorseful" for its record loss in the first half. Country Garden (2007.HK) posted a net loss between January and June of 48.9 billion yuan ($6.72 billion), versus a 6.7 billion yuan net loss in the second half of 2022 and a 612 million yuan net profit in the first half of 2022. Its total interest-bearing debts decreased to 257.9 billion yuan, of which 108.7 billion yuan would be due within 12 months, while it had total cash of 101.1 billion yuan. Country Garden shares closed down 3.3% at HK$0.88 before the earnings announcement.

Persons: Edgar Su, HONG KONG, Clare Jim, Tomasz Janowski, Andy Sullivan, Nick Macfie Organizations: Gardens, REUTERS, HK, Country Garden, Kingboard Holdings, Thomson Locations: Forest, Johor Bahru, Malaysia, HONG, Hong Kong

☆ China’s Biggest Homebuilder Raises Capital in Scramble to Pay Debts
▼ + stars: | 2023-08-30 | by ( Daisuke Wakabayashi | More About Daisuke Wakabayashi | ) www.nytimes.com time to read: +1 min

In a filing with the Hong Kong Stock Exchange, Country Garden said it planned to issue 350.6 million shares of the company at 77 Hong Kong cents apiece next Wednesday. Instead, they will go to a subsidiary of Hong Kong-based Kingboard Holdings Limited, a materials and chemicals manufacturers with a property division to which Country Garden owes millions of dollars. Country Garden, China’s biggest property developer, is selling the shares at a 15 percent discount to Tuesday’s closing price. The company has until next week to repay the offshore bondholders or it will be in default to creditors. The financial trouble facing Country Garden is the latest fallout from a rapidly spreading real estate crisis in China.

Organizations: Hong Kong Stock Exchange, Hong, Kingboard Holdings Locations: Hong Kong, China

☆ Country Garden's cash flow in focus as troubled firm set to report $7.5 bln loss
▼ + stars: | 2023-08-29 | by ( Clare Jim | ) www.reuters.com time to read: +4 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Country Garden shares were down over 3% in early trade on Wednesday. It has already flagged a net loss of up to 55 billion yuan ($7.55 billion) in the first six months, a staggering slide from the 6.7 billion yuan loss it posted in the second half of 2022 and from the net profit of 1.9 billion yuan it posted a year earlier. JP Morgan has estimated it would cost about 316 billion yuan to finish all the company's projects under construction, including both sold and unsold flats. On Tuesday, Country Garden proposed adding a 40-day grace period for the repayment of a 3.9 billion yuan private onshore bond due Saturday.

Persons: Aly, HONG KONG, JP Morgan, Clare Jim, Miral Organizations: Shanghai Country Garden, REUTERS, Garden Holdings, Garden, HK, Kingboard Holdings, Country Garden, China International Capital Corporation, City, China Overseas Land & Investment, Thomson Locations: Shanghai, China, HONG, HK, Hong Kong, Guangzhou, Malaysia

☆ These financial market signals are telling a different story about China's economy
▼ + stars: | 2023-08-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China's economy is stumbling, but financial markets don't indicate that it will lead to a systemic crisis. After a first-quarter bounce, China's economic rebound from zero-COVID policies has been disappointing, with factories and consumers slowing down. But Gave cited other indicators that present a different take on the Chinese economy. Gave also pointed out that iron ore prices, which are sensitive to China's economy, have jumped 50% from their October 2022 low. AdvertisementAdvertisement"That is not to deny that China's economy faces genuine challenges or that Chinese economic growth is slowing, cyclically and structurally," he concluded.

Persons: Louis, Vincent, Vincent Gave, Beijing's Organizations: Service, Financial Times, FTSE, US, Ferrari Locations: Hong Kong, Wall, Silicon, China, Beijing, FTSE China

Even as the import ban kicked in, tables were filled at Japanese restaurant Fumi in Hong Kong on August 24, 2023. Kathleen Magramo/CNNHours before China’s announcement, the Asian financial center of Hong Kong – a semi-autonomous Chinese city – imposed its own ban on aquatic product imports from 10 Japanese regions including Tokyo and Fukushima. Japanese Prime Minister Fumio Kishida has reportedly “strongly” requested via diplomatic channels that China “immediately overturn” the ban. Still, Fei too thought that the bans from China and Hong Kong would have limited impact on Japanese trade. Consequently, even considering the reputational damage for Japanese seafood products, Japan’s overall exports will not be materially undermined,” Fei said.

Persons: “ It’s, ”, Thomason Ng, Fumi’s, “, Kathleen Magramo, Japan’s, Masanobu Sakamoto, Fumio Kishida, ” Sakamoto, –, Nigel Marks, there’s, CNN “ It’s, ” Marks, David Krofcheck, ” Krofcheck, Stefan Angrick, Angrick, That’s, China “, Fei Xue, Fei, ” Fei, restaurateurs, Hong Kong’s, Cara Man, we’ll Organizations: CNN, Hong Kong’s, East China, Fisherman’s Cooperative Association, ” “ Fishermen, Japanese, Tokyo Electric Power Company, TEPCO, Curtin University, University of Auckland, World Health Organization, Moody’s, Economist Intelligence Unit, “ Seafood Locations: Hong, Hong Kong’s Central, Fumi, Asia, Japan, China, Fukushima, Hong Kong, Tokyo, Weibo, East, Beijing, Australia, Ocean, South Korea, Taiwan, New Zealand, Japanese, Central, Japan’s Hokkaido, Kyushu, Kagoshima, Norway, Canada

☆ China had almost 2 million excess deaths after the end of ‘zero-Covid,’ U.S. study finds
▼ + stars: | 2023-08-26 | by ( Jennifer Jett | Cheng Cheng | ) www.cnbc.com time to read: +3 min

There were almost 2 million excess deaths in the two months after China lifted its "zero-Covid" restrictions, a U.S. study found, contradicting official figures from Beijing that have been criticized as too low. Researchers estimate there were 1.87 million excess deaths from all causes among people 30 years and older from December 2022 to January, according to the study from the Fred Hutchinson Cancer Center in Seattle published Thursday. "Our study of excess deaths related to the lifting of the zero-Covid policy in China sets an empirically derived benchmark estimate," the researchers wrote. The way the study estimates data is not "scientifically rigorous," but it is nonetheless an "objective" and "beneficial" attempt, Jin added. Jin said the actual data could be a few percentage points lower or higher than the study estimates.

Persons: Fred, Jan, Zhanwei Du, Lauren Ancel Meyers, Jin Dong, Jin Organizations: Fred Hutchinson Cancer Center, University of Hong, University of Texas, Baidu Locations: China, U.S, Beijing, Seattle, Tibet, University of Hong Kong, Austin

China operates talent programs at various levels of government, targeting a mix of overseas Chinese and foreign experts. China has previously said its overseas recruitment through the TTP aimed to build an innovation-driven economy and promote talent mobility, while respecting intellectual property rights, according to the state-run Xinhua news agency. It said that anyone who recommends a candidate who is then selected for the talent programs would receive "diamonds, bags, cars, and houses". In some cases, these people said, those experts will be offered roles at Chinese chip companies' overseas operations. ($1 = 7.1475 Chinese yuan renminbi)Reporting by Julie Zhu, Fanny Potkin, Eduardo Baptista and Michael Martina; editing by David CrawshawOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Xi Jinping, Qiming, Dean Boyd, Nick Marro, Chen Biaohua, Chen, Ma Yuanxiao, Dawei Di, Di, Zhuji, Julie Zhu, Fanny Potkin, Eduardo Baptista, Michael Martina, David Crawshaw Organizations: REUTERS, Washington, Reuters, China, Ministry of Industry, Information Technology, U.S . Commerce Department, Xinhua, Ministry of Science, Technology, U.S, government's National Counterintelligence and Security Center, Economist Intelligence, China Center for Information Industry Development, China Semiconductor Industry Association, Qiming, Massachusetts Institute of Technology, Harvard, Stanford, HK, LinkedIn, Hangzhou Juqi Technology, Fortune, Beijing Institute of Technology, BIT's School of Integrated Circuits, Electronics, Britain's University of Nottingham, University of Hong, BIT, Communist Party's Organization Department, Zhejiang University, Communist Party, Thomson Locations: China, HONG KONG, SINGAPORE, WASHINGTON, U.S, China's, Qiming, Beijing, Hangzhou, ResearchGate, University of Hong Kong, Ma, Zhejiang, Wenzhou, Cambridge

☆ Japanese restaurant owners in Hong Kong brace for Fukushima seafood ban
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +3 min

HONG KONG, Aug 22 (Reuters) - Japanese restaurant owners in Hong Kong are grappling with a looming ban on seafood imports from 10 Japanese prefectures because of Tokyo's plan to release treated water from the crippled Fukushima plant into the sea from Aug. 24. Hong Kong is Japan's second largest market, after mainland China, for agricultural and fisheries exports. Although the details of Hong Kong's ban remains unclear, Halry Yu, 42, owner of Japanese restaurant Hassun, said more than 90% of seafood sent to Hong Kong is gathered in Tokyo. “If they ban imports that come via Tokyo, I think all sushi restaurants in Hong Kong will be in trouble. Advertising executive Hilda Lee, 30, said she enjoys eating Japanese seafood, and dines at Japanese restaurants two to three times each month.

Persons: Hong, Halry Yu, ” Yu, barbecued, Yu, Hong Kong, Hilda Lee, dines, Lee, Jim Smith, there's, Smith, Dino Leung, Leung, Edmond Ng, Joyce Zhou, Farah, Gerry Doyle Organizations: Japan, Hong, University of Portsmouth, Thomson Locations: HONG KONG, Hong Kong, China, Japan, Tokyo, Osaka, Hong, Fukushima, Chiba, Tochigi, Ibaraki, Gunma, Miyagi, Niigata, Nagano, Saitama, Wan Chai

☆ Hong Kong's benchmark Hang Seng index closes in bear market territory
▼ + stars: | 2023-08-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Hong Kong's benchmark stock index closed in bear market territory, down 2.1% in the Friday session and more than 20% below the highs of January, as uncertainty over China's property market and growth prospects erase early-year gains. The further losses on Friday came after news that embattled Chinese real estate giant Evergrande had filed for bankruptcy protection in a U.S. court. Friday's plunge for the Hang Seng index saw some of the region's largest companies close in the red, with Tencent down 2.34%, Alibaba down 3.44% and HSBC shedding 1.1%. A bear market is a prolonged downturn in prices that sees a broad market index drop at least 20% from its most recent peak. The Hang Seng index closed at 17,950.85 on Friday, down 20.88% from the 22,688.9 of Jan. 27.

Persons: Evergrande Organizations: HSBC Locations: Central, Hong Kong, U.S

☆ Asia promotes crypto clarity amid regulatory uncertainty in the U.S.
▼ + stars: | 2023-08-17 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Earlier this month, Hong Kong officially opened crypto trading to retail investors and upgraded licenses of two exchanges. "This will further boost investor confidence, making Hong Kong more attractive as a potential global virtual asset hub," said Lai. He concluded some crypto firms could leave the U.S. for more progressive jurisdictions as a result. Asia's regulatory clarityAcross the Pacific, Singapore and Hong Kong offer far more operational clarity for many industry players "Singapore has the first mover advantage in the Asia Pacific region, including being ahead of Hong Kong. watch nowSingapore's Payment Services Act — a framework for regulating payment services and the provision of crypto services to the public — came into effect in January 2020.

Persons: Ben Charoenwong, Lennix Lai, Lai, Ong Chengyi, Chainalysis, Hong, Blockchain.com, Ripple, Hong Kong, Janice Goh, Coinbase, Binance, Brad Garlinghouse, Goh Organizations: Getty, Nurphoto, National University of Singapore Business School, Monetary Authority of, Cavenagh, U.S . Securities, Exchange Commission, SEC, CNBC, MAS Locations: Victoria Harbour, Hong Kong, China, Asia, U.S, Hong Kong . Hong Kong, Singapore, Monetary Authority of Singapore, Thailand, Indonesia, Hong, Pacific

☆ Analysis: Country Garden undone by promise to bring 5-star life to China's hinterland
▼ + stars: | 2023-08-16 | by ( Clare Jim | ) www.reuters.com time to read: +4 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Smaller Chinese cities, whose revenues have already been deteriorating, could have a glut of unfinished homes, a social problem Beijing is trying to avoid. But as China's economy started slowing during and after its COVID-19 lockdowns, property sales in those areas has plummeted along with values of the homes themselves. Country Garden's sales in 2020 were 570.7 billion yuan ($78.22 billion), but that slipped to 357.5 billion yuan in 2022. Country Garden has nearly 1 million homes to complete, according to estimates from Japanese investment bank Nomura.

Persons: Aly, HONG KONG, Oscar Choi, Yang Huiyan, Lu Ting, Nomura, Gerwin Bell, Clare Jim, Liangping Gao, Matt Tracy, Davide Barbuscia, Christian Schmollinger Organizations: Shanghai Country Garden, REUTERS, Country, HK, National Bureau, Statistics, Partners Capital, China Evergrande, Oxford Economics, Nomura, Thomson Locations: Shanghai, China, HONG, Beijing, Dezhou, Hong Kong, Asia, Washington, New York

☆ HKEX CEO is optimistic on medium-term outlook after first-half profit jumps 31%
▼ + stars: | 2023-08-16 | 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 EmailHKEX CEO is optimistic on medium-term outlook after first-half profit jumps 31%Nicolas Aguzin, CEO of Hong Kong Exchanges and Clearing, discusses the exchange's earnings result for the first half of 2023 and expressed optimism in the medium-term following signs that inflation may be coming down.

Persons: Nicolas Aguzin Organizations: Hong Kong Exchanges

HONG KONG, Aug 15 (Reuters Breakingviews) - Hong Kong has lost some permanent appeal. The introduction of two sets of approvals was mandated three decades ago when foreign investors wanted additional protections to invest in the first wave of Chinese firms listing in Hong Kong. China's domestic securities laws have since developed and global investors can now directly buy shares onshore through various channels. That could lead to more onshore shares being issued relative to offshore shares, further diluting minority owners in Hong Kong. In 2020, Hong Kong shareholders vetoed the Bank of Zhengzhou's proposal to avoid such an outcome.

Persons: Hong Kong, HKEX, Una Galani, Thomas Shum Organizations: Reuters, Hong Kong Exchanges, HK, China Securities Regulatory Commission, Asia Securities Industry, Financial Markets Association, Corporate Governance Association, China Life Insurance, Wall, Hong, Bank of, Companies, Global, Hang Seng China Enterprise Index, Graphics Global, Thomson Locations: HONG KONG, Hong Kong, China, Shanghai, Shenzhen, Hong

A Baidu search for the question "should China be more responsible for climate change? ", or variations of it, did not produce any articles critical of China's climate policy in the first few dozen results. Instead, the results, many from state media outlets, focused on China's leadership in the fight against climate change and calls for developed countries to take more responsibility. China's foreign ministry did not immediately respond to a request for comment on this story, but government spokespeople have long defended China's record on climate change and press freedom. Despite the extreme weather, China has reinforced its message about energy security rather than climate change in recent months, said CREA's lead analyst, Lauri Myllyvirta.

Persons: Doksuri, Tingshu Wang, Li Shuo, We're, Su, Fang Kecheng, Pan Zhongdang, Xi Jinping, Li, Lauri Myllyvirta, David Stanway, Barbara Lewis Organizations: REUTERS, Greenpeace, Weibo, Baidu, Chinese University of Hong, Communications, University of Wisconsin, Environmental Studies, New, Centre for Research, Energy, Clean, Thomson Locations: Zhuozhou, Hebei province, China, BEIJING, Beijing, Hebei, Chinese University of Hong Kong, United States, Madison, New York, Shanghai Campus, Shanghai

☆ Vietnamese EV maker VinFast gets go ahead for Nasdaq SPAC listing
▼ + stars: | 2023-08-10 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

Shareholders of Hong Kong-based Black Spade Acquisition (BSAQ.A), a blank-check company, voted on Thursday to approve the merger with VinFast. VinFast, in a joint statement with Black Spade, said it would list on the Nasdaq under the ticker symbol VFS "on or around August 15". It leaves VinFast's existing shareholders, including parent company Vingroup and Vuong, Vietnam's richest man, with 99% of shares in the company. "The voting results today are a vote of confidence in VinFast from Black Spade shareholders," VinFast's global head Thuy Le said in the statement. Black Spade was founded by the private investment arm of Lawrence Ho, son of the late gambling mogul Stanley Ho.

Persons: Mike Blake, VinFast, Black Spade, Pham Nhat Vuong, Thuy Le, Nikola Corp, EVs, VinFast's, Vuong, Lawrence Ho, Stanley Ho, Phuong Nguyen, Kirsten Donovan, Susan Fenton Organizations: Los Angeles Auto, REUTERS, U.S, Nasdaq, of Hong, VinFast, Black, Black Spade, Faraday, Nikola, Vingroup, Tesla, Thomson Locations: Los Angeles , California, U.S, HANOI, of Hong Kong, VinFast, North Carolina, Black, United States, Haiphong, Vietnam

☆ US-China investments: New Biden executive order deals 'major blow' to Chinese startups
▼ + stars: | 2023-08-10 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

The Biden administration announced Wednesday it would restrict investments by US venture capital and private equity firms, as well as joint ventures, in Chinese artificial intelligence, quantum computing and semiconductors. The executive order applies to investments in the cities of Hong Kong and Macao, as well as mainland China. She said the new edict suggested that Washington was “trying to ‘decouple’” US and Chinese venture capital, despite the administration’s insistence that it is not trying to halt trade with China. US venture capital investment into China has plummeted about 80% over the past year, according to PitchBook data. And the investment restrictions were long in the works.

Persons: Biden, they’ll, ”, Edith Yeung, Washington, Yeung, Kyle Stanford, Kaidi Gao, Tomohiro Ohsumi, “, Gao, Washington —, Xi Jinping, Gina Raimondo’s Organizations: Hong Kong CNN, CNN, Race Capital, ”, PitchBook, Bloomberg, Getty, Investors, Washington, Sequoia Capital, Chinese Ministry of Commerce, China’s Ministry of Foreign Affairs, US Locations: Hong Kong, China, Macao, Silicon, United States, “ Washington, US, ”, Shanghai, chipmaking, Stanford, Beijing

☆ HSBC executive apologizes after calling the UK 'weak' for following US lead over China
▼ + stars: | 2023-08-08 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —A top executive at HSBC has apologized after reportedly calling the UK government “weak” over its dealings with China, in another sign of the political tightrope the British bank has to walk. He also said the British government would often concur with US demands, calling it “weak,” the publication reported. Several conservative UK lawmakers seized the occasion Monday to criticize Cowper-Coles and HSBC (HSBC). Meanwhile, Hong Kong and mainland China combined made up nearly 40% of profit, according to its most recent financial report. In 2020, HSBC’s top executive in Asia publicly declared support for a controversial national security law that Beijing introduced in Hong Kong, inviting fierce backlash from Western government officials and investors.

Persons: Sherard Cowper, Cowper, Coles, Washington, Britain shouldn’t, —, “, “ Sherard, Tim Loughton, ”, Iain Duncan Smith, Sir Sherard Cowper, Stephen Chung, Noel Quinn Organizations: Hong Kong CNN, HSBC, Bloomberg, CNN, Cowper, China - Britain Business Council, Chatham, Coles, Former Tory, Getty, Hong Locations: Hong Kong, China, Coles, United Kingdom, United States, London, British, Beijing, Israel, Saudi Arabia, Afghanistan, Chatham, Asia, Xinhua, East

☆ 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

☆ UBS rejigs investment bank in bid to better compete with Wall Street
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland, March 20, 2023. REUTERS/Denis Balibouse/File PhotoLONDON, Aug 7 (Reuters) - UBS (UBSG.S) announced an overhaul of its investment banking division on Monday, including naming the unit's M&A chiefs, marking a key step in integrating Credit Suisse. Sergio Ermotti is seizing on the opportunity presented by the rescue takeover of Credit Suisse in March to reorganize UBS' investment bank to better compete against Wall Street firms. Hundreds of Credit Suisse bankers have already left to other institutions and UBS has been laying off employees from Credit Suisse's investment bank around the globe. Hong Kong makes up Credit Suisse's biggest share of investment bankers in Asia.

Persons: Denis Balibouse, Sergio Ermotti, David Kostel, Tom Churton, Christian Lesueur, Nestor Paz, Galindo, Marc, Anthony Hourihan, Michael Santini, Marc Warm, David Slade, Scott Lindsay, Robin Rankin, Andres Gonzalez, Oliver Hirt, Elisa Martinuzzi, Alexander Smith Organizations: UBS, Credit Suisse, REUTERS, Wall Street, Global, Staff, Reuters, TMT Investment, Global Banking, Credit, Suisse's, Debt, Thomson Locations: Zurich, Switzerland, Credit, Swiss, Hong Kong, Asia

☆ How to pick the coolest clothing for a heat wave
▼ + stars: | 2023-08-06 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +8 min

As the planet warms, experts say picking the right clothing to beat the heat will be critical to your health and well-being. Allow sweat to evaporateHumans are designed to self-regulate body temperature by radiating heat directly off the skin and by sweating. “But while you’re exercising, it would be a great choice.”At this time, however, no wardrobe choices can protect the body from really intense heat, Katta said. “The National Weather Service has done a great job of emphasizing the heat index, which considers both heat and humidity, and I think it’s really important,” Katta said. “We can create textiles, clothing and accessories as a form of health, for medicine, for human comfort,” Hu said.

Persons: ”, Rajani, it’s, Prabu, “, Katta, Petros Giannakouris, ” Katta, wicks, Dr, It’s, Jinlian Hu, Hu, Jade Gao, ” Hu Organizations: CNN, American Academy of Dermatology, Tourists, Skin Cancer, National Weather Service, City University of Hong, university’s, Healthcare, Getty Locations: Houston, Athens, Greece, City University of Hong Kong, Beijing, AFP

Search resuls for: "of Hong"

25 mentions found