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02 Feb Bao Fan resigns from China Renaissance Holdings following 2023 investigation, disappearance

Posted at 07:37h in Asia

Chinese financier Bao Fan has resigned as chairman and CEO of investment bank China Renaissance Holdings, citing “health reasons” and the desire to “spend more time with family”, an exchange filing on Friday showed.Bao had no disagreement with the board and “there is no other...

02 Feb Russian war critic Boris Nadezhdin is an awkward challenge for Putin

Posted at 06:04h in Europe

Boris Nadezhdin, the Civic Initiative Party presidential hopeful, arrives at the Central Election Commission to submit signatures collected in support of his candidacy, in Moscow on January 31, 2024.Vera Savina | Afp | Getty ImagesOver President Vladimir Putin's 24 years in power, a systemic opposition...

02 Feb ICBC chairman Chen Siqing resigns as Chinese banking industry undergoes leadership reshuffle

Posted at 06:00h in Asia

Chen Siqing, the lender’s chairman and executive director, has tendered his resignation to the board of directors, with immediate effect, according to a company statement on February 1.The statement said Chen, 63, was resigning because of his age, that he had no disagreement with the...

02 Feb China Evergrande: attempts to auction onshore affiliate Fengtao’s assets fail for a third time in 3 weeks

Posted at 04:58h in Asia

An attempt to auction assets belonging to an onshore affiliate of mainland property giant China Evergrande Group, which was ordered by a Hong Kong court to be wound up earlier this week, failed for a third time.Assets of Fengtao (Shanghai) Property Company, a property...

02 Feb Amer, backed by Anta Sports, makes winning debut in New York after US$1.4 billion stock offering

Posted at 02:28h in Asia

Amer Sports, backed by China’s biggest sportswear maker Anta Sports Products, made a winning start as a listed company after its shares rose by 3.1 per cent in New York on Thursday.Shares of the Finland-based company closed at US$13.40, giving the owner of Wilson, Salomn...

02 Feb Tencent, NetEase lift Hong Kong stocks to biggest gain in a week on games approval, as Li Auto leads EV surge on deliveries

Posted at 02:23h in Asia

Hong Kong stocks climbed by the most in a week after China approved a new batch of online video games in a sign the government is softening its stance on the industry. Li Auto led a jump in electric-vehicle makers amid robust sales in...

01 Feb Hong Kong property deals surge to their highest since August as stable interest rates lure buyers

Posted at 23:30h in Asia

The number of property transactions in Hong Kong surged 17 per cent in January to 4,399 deals from a month ago, with total sales rising 12.5 per cent to HK$37.79 billion (US$4.83 billion), according to data compiled by Centaline Property Agency.The surge comes amid...

01 Feb Why Samsung, TSMC are keeping cutting-edge chip production at home despite overseas incentives

Posted at 23:00h in Asia

This article was first published by The Korea Times in a partnership with the South China Morning Post.Samsung Electronics and Taiwan Semiconductor Manufacturing Company (TSMC) are keeping their most cutting-edge semiconductor plants on their respective home turfs, even as the companies rush to expand investments...

01 Feb Chinese EV builders Li Auto, Xpeng and Nio get 2024 off to a slow start, with sharp drop in January sales

Posted at 22:00h in Asia

“The month-on-month fall in deliveries appears to be bigger than what dealers had expected,” said Zhao Zhen, a sales director with Shanghai-based dealer Wan Zhuo Auto.“Consumers are more cautious about purchasing expensive items such as cars amid worries about job security and income reductions.”Chinese EV...

01 Feb High interest rates aren’t to blame for housing crisis, Bank of Canada governor says

Posted at 21:52h in Canada

Bank of Canada governor Tiff Macklem says the central bank can't solve the housing crisis with interest rates because the root cause is a supply shortage.Macklem faced multiple questions on housing affordability during an appearance before the finance committee on Thursday — one week after the bank...

Author: admin