Author: admin

06 Mar Exclusive | Hong Kong Monetary Authority asks banks to exercise caution when offering property loans for speculative ‘confirmor sales’

Posted at 23:30h in Asia

A confirmor sale occurs when a purchaser or confirmor enters into an agreement for the sale and purchase of a property with the owner or vendor, but before completion sub-sells the property to a sub-purchaser. A few such transactions have been noticed since the removal...

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06 Mar Former Google engineer charged with stealing AI tech while secretly working with Chinese firms

Posted at 21:15h in Canada

A former software engineer at Google has been charged with stealing artificial intelligence technology from the company while secretly working with two companies based in China, the U.S. Justice Department said Wednesday.Linwei Ding, a Chinese national, was arrested in Newark, Calif., on four counts of...

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06 Mar Canada Infrastructure Bank partners with First Nations Bank to finance projects

Posted at 19:25h in Canada

The Canada Infrastructure Bank has signed a $100-million deal with the First Nations Bank of Canada to help Indigenous communities borrow money to build infrastructure.FNBC chief executive Bill Lomax said the new program will make infrastructure projects in Indigenous nations and communities more affordable.Lomax said by partnering with...

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06 Mar Epic Games says Apple retaliated over suits banning developer account

Posted at 17:42h in Europe

"Fortnite" creator Epic Games' Chief Executive Tim Sweeney leaves after a weeks-long antitrust trial at federal court in Oakland, California, U.S. May 21, 2021. REUTERS/Brittany Hosea-SmallBrittany Hosea-small | ReutersApple has rejected Epic Games' application for a developer account it would use to launch an...

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06 Mar Bank of Canada holds key interest rate at 5% again

Posted at 14:51h in Canada

Business·BreakingThe Bank of Canada has held its key interest rate at five per cent again, as economists had expected.Governor Tiff Macklem to hold news conference explaining rate decision at 10:30 ETJenna Benchetrit · CBC News · Posted: Mar 06, 2024 9:51 AM EST...

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06 Mar China to oppose US lawmakers’ new move forcing ByteDance to divest TikTok amid mainland tech restrictions, analysts say

Posted at 13:30h in Asia

A bipartisan bill was introduced in the US House of Representatives on Tuesday that would give ByteDance 165 days to divest TikTok, or else the app would no longer be available on US app stores or be accessible on web-hosting services in the country.The Chinese...

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06 Mar China’s BYD to spend US$55 million on buy-back of Shenzhen-listed shares as world’s largest EV maker eyes higher market value

Posted at 13:24h in Asia

BYD, the world’s largest electric vehicle (EV) maker, plans to buy back 400 million yuan (US$55.56 million) worth of its mainland-listed shares, with the aim of lifting the company’s stock price amid concerns about escalating competition in China.Shenzhen-based BYD, backed by Warren Buffett’s Berkshire Hathaway,...

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06 Mar Chinese conglomerate Fosun’s tourism unit says it is ‘financially sound’ amid reports of Atlantis Sanya stake sale

Posted at 12:16h in Asia

Fosun Tourism Group, the leisure and tourism unit of Chinese conglomerate Fosun International, said on Wednesday that it is “financially sound”, amid reports that its parent firm is mulling the sale of a stake in the luxury Atlantis Sanya resort to cope with debt.Fosun International...

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06 Mar JD.com’s fourth-quarter revenue beats estimates helped by focus on lower prices

Posted at 11:28h in Asia

Chinese e-commerce giant JD.com reported revenue of 306.1 billion yuan (US$43.1 billion) for the fourth quarter, an increase of 3.6 per cent from the same period a year ago and above expectations, bolstered by the company’s efforts to focus on price competitiveness.JD.com said it will...

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06 Mar Singapore’s Mapletree, PAG rename Pan Sutong’s former Hong Kong headquarters, to give anchor tenant naming rights to ‘high-quality office landmark’

Posted at 10:30h in Asia

“We are thrilled to announce the re-entry of The Bay Hub as a high-quality office landmark in Hong Kong’s commercial sector,” Wong Mun Hoong, Mapletree’s regional CEO for Australia and North Asia, said in a statement issued by CBRE on Wednesday. “Aligned with Mapletree’s commitment...

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