BEIJING The killing of the estranged half-brother of North Korea’s leader who had been living in the Chinese territory of Macau may be top news around the world, but for some Macanese legislators at China’s parliament it’s more a case of Kim Jong Who? Kim Jong Nam was killed on Feb. 13 at Kuala Lumpur International Airport. Malaysian police believe he was assaulted by two women who […]
By Michael Martina and Philip Wen | BEIJING BEIJING Defying pressure for a strong increase in defence spending, China said on Saturday its military budget this year would grow about 7 percent, its slowest pace since 2010. Last year, with China’s economy slowing, the defence budget recorded its lowest increase in six years, 7.6 percent, the first single-digit rise since 2010, following a nearly unbroken two-decade run […]
March 3, 2017 by: Jamie Chisholm, Global Markets Commentator Friday 08:35 GMT Overview Stock markets are retreating as Wall Street equity futures dip further from this week’s record high as investors cash in some of their bullish bets on stronger growth following the election of US president Donald Trump. The pullback comes amid heightened expectations that the improving economic scenario will encourage the Federal Reserve to increase […]
China’s 200 richest lawmakers are worth more than $500bn, according to the Hurun Report, which tracks the fortunes of the country’s wealthiest people. The Communist party officially welcomed private-sector business people into its fold in 2002, when the Chinese economy was the world’s sixth-largest. Their wealth has since soared in tandem with the Chinese economy, which is now second only to that of the US. According to […]
Another singer with a Filipino connection is making waves on a reality talent competition. Anatalia Villaranda, the child of Filipino immigrants, impressed the panel during the premiere episode of the 12th season of The Voice US on Monday. Performing a cover of the hit pop track Runaway Baby by Bruno Mars (who also happens to be Filipino-American), Villaranda turned the chairs of all four judges Alicia Keys, […]
CK Chow struck a cautious note at the start of the week when revealing the Hong Kong Exchange’s annual results. With average daily turnover down 37 per cent, the exchange chairman’s wariness was understandable as he talked of a “challenging” outlook and volatile markets. Yet such caution is out of step with the mood in the market. Hong Kong’s blue-chip Hang Seng index and the Hang Seng […]
By John Ruwitch | SHANGHAI SHANGHAI The fortunes of the richest 100 members of China’s parliament and its advisory body – all dollar billionaires – grew about 64 percent in the four years since Xi Jinping rose to power, according to data from an organisation tracking wealth in China. Xi has overseen a crackdown on corruption and decadence, and made the fight against poverty a top priority […]
Cheung Kong Infrastructure and Fosun International are among several Asian groups that have submitted bids for Q-Park, one of Europe’s largest parking lot operators, in a deal that could fetch more than $2.4bn. China Oceanwide, a Beijing-based conglomerate owned by a billionaire banking magnate, and Shougang Group, a state-owned Chinese steel company, also joined the first round of bidding on the Netherlands-based parking group, two people familiar […]
Superloop has expanded its high-speed intercapital colocation network with a new point of presence (PoP) at NextDC’s C1 datacentre in Canberra. The addition of C1 connectivity sees the Asia-Pacific fibre infrastructure company complete its national footprint through NextDC, with connections already at the latter’s datacentres in Brisbane, Sydney, Melbourne, and Perth. According to Superloop, the nationwide deployment of capital city infrastructure gives the company the ability to […]
Wednesday 16:30 GMT Overview Wall Street surged to another record as comments from Federal Reserve officials caused traders to boost their bets for an increase in US interest rates this month and investors celebrated a more upbeat tone from Donald Trump in his first address to Congress. In keeping with he risk-on mood that washed across financial markets around the globe, the dollar also rose and gold […]
By Sijia Jiang | HONG KONG HONG KONG Taiwan’s Foxconn (2317.TW), the world’s largest contract electronics maker, is “definitely bidding” for the chip business of Japan’s Toshiba Corp (6502.T) and is “very confident” it can buy into it, company founder Terry Gou said on Wednesday. Gou was speaking as Foxconn, formally known as Hon Hai Precision Industry Co Ltd, broke ground for a 61 billion yuan ($8.87 […]
Wednesday 09:30 GMT Overview The dollar and government bond yields are jumping, and gold is falling, as hawkish comments from Federal Reserve officials cause traders to drastically shorten the odds of an increase in US interest rates this month. Meanwhile, US equity index futures point to another record on Wall Street, tracking gains in Europe and Asia, after Donald Trump addressed Congress for the first time, with […]
Stocks pared gains and the US dollar initially eased as President Donald Trump’s first address to Congress failed to provide the policy details that markets wanted — and analysts let rip with their disappointment. “We needed him to be a leader. We needed him to give us direction. That is where he let investors down this evening,” said Paul Christopher, head global market strategist for Wells Fargo […]
Tuesday 12:30 GMT Overview Global stocks are finishing a positive month on a mixed note as traders appear cautious about making fresh bold bets ahead of Donald Trump’s speech to a joint sitting of the US Congress later on Tuesday. The dollar is fairly steady, while gains for perceived haven assets such as Treasuries and the Japanese yen speak to the underlying tentative tone. Hot topic The […]
Chinese companies have borrowed more money from the international bond market than from domestic investors so far this year, breaking with tradition as authorities in Beijing focus on curbing capital outflows. Banks and other corporate borrowers have been quietly encouraged to raise money offshore in other currencies, limiting the need for Chinese companies to sell renminbi to finance overseas investments. Borrowing more outside the mainland also allows […]
BEIJING A youth named by China as the second-highest figure in Tibetan Buddhism, but reviled as a fake by many Tibetans, has praised the Communist Party’s religious policies in Tibet in a lunar new year message, saying they made him feel “very happy”. Although officially atheist, China selected Gyaltsen Norbu as the 11th Panchen Lama in 1995 in a drive to win the hearts and minds of […]
Gold’s almost 10 per cent advance this year will be in jeopardy should US president Donald Trump’s key address to Congress on Tuesday reignite the dollar rally and prospect for higher interest rates. The yellow metal has been one of the chief beneficiaries of the cooling this year of the so-called “Trumpflation” trade, which sent the dollar to a 13-year high in early January and helped buoy […]
Monday 08:50 GMT Overview European stock markets are making gains, tracking another set of record highs for Wall Street’s main equities gauges. The rally reaches the region even after Asia missed out, with banking and commodity stocks leading a sell-off there. Hot topic US equity futures are pointing to further gains after a late rally on Friday pushed the S&P 500 up 0.2 per cent while the […]
Image credit: Arqiva Samsung Electronics says it will start the UK’s first 5G broadband network in central London, following earlier trials South Korea, China and Japan. In London, it will work with Arqiva, which is best known for DAB radio broadcasting. Arqiva has a licence to use the 28GHz spectrum across the UK, and will host a number of Samsung’s 5G base stations. Arqiva’s CEO, Simon Beresford-Wylie, […]
By Venus Wu and Greg Torode | HONG KONG HONG KONG Developments in Hong Kong have affected confidence in a system of government intended to ensure the Chinese-ruled city’s autonomy, though its rule of law remained robust “despite challenges”, former colonial power Britain said on Friday. Britain handed Hong Kong back to China in 1997 with guarantees it would retain extensive autonomy, an independent legal system and […]
BEIJING A youth named by China as the second-highest figure in Tibetan Buddhism, but reviled as a fake by many Tibetans, has pledged to uphold the “glorious tradition” of patriotism that holders of his position have followed, state news agency Xinhua said. Although officially atheist, China selected Gyaltsen Norbu as the 11th Panchen Lama in 1995 in a drive to win the hearts and minds of Tibetans. […]
TOKYO Asian shares took a breather on Friday, slipping from 1-1/2-year highs as material shares were hit by sudden falls in copper and other commodity prices while investors assessed Washington’s stance on tax and currency policies. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.5 percent, giving back part of this week’s gains, though it is likely to log its fifth straight weekly advance. […]
February 24, 2017 by: Nic Fildes, Telecoms Correspondent Shine Technologies has reversed roles, revealing it will stop selling its popular ad-blocking technology to telecoms companies, and instead launch an advertising service. The Israeli company backed by Hong Kong billionaire Li Ka-shing built its name as one of the leading companies in the ad-blocking sector, automatically filtering marketing from the screens of smartphones. Its technology was embedded at […]
By A. Ananthalakshmi and Liz Lee | KUALA LUMPUR KUALA LUMPUR VX, the chemical used in the airport murder Kim Jong Nam, is one of the deadliest chemical weapons created by man. Just 10 milligrams of the nerve agent or a single drop enough to kill in minutes, experts say. With the texture and feel of engine oil, VX was first produced in the United Kingdom in […]
