Reuters Asia Business

Amid Evergrande crisis, more Chinese developers to issue ABS

5 Dec 2021

BEIJING (Reuters) – Some of China’s major property developers are planning to issue asset-backed securities in the near term, a further sign that regulators are marginally broadening financial channels for developers amid Evergrande’s debt crisis. China Evergrande, wrestling with debts of more than $300 billion, said on Friday that there was “no guarantee” it would …

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Dyson splits with Malaysia supplier, stoking concern over migrant worker treatment

5 Dec 2021

By A. Ananthalakshmi and Liz Lee JOHOR BAHRU, Malaysia(Reuters) – A short drive across the border from Dyson’s new headquarters in Singapore is the boomtown built around its business: a Malaysian industrial area dominated by its biggest supplier, ATA IMS Bhd. ATA, one of Malaysia’s top electronics manufacturing services providers, rode Dyson’s success in high-end …

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Bitcoin falls 8.4% to $49,228.82

4 Dec 2021

(Reuters) – Bitcoin dropped 8.4% to $49,228.82 at 20:01 GMT on Saturday, losing $4,514.87 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 28.7% from the year’s high of $69,000 on Nov. 10. Ether, the coin linked to the ethereum blockchain network, dipped 2.69 % to $4,109.14 on Saturday, losing $113.66 …

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Trump’s social media venture to raise about $1 billion in funds

4 Dec 2021

By Krystal Hu and Juby Babu (Reuters) – Former President Donald Trump’s new social media venture Trump Media & Technology Group and Digital World Acquisition Corp. said it has entered into subscription agreements to raise about $1 billion from a group of investors. DWAC said it will provide up to $293 million to the partnership …

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Sri Lanka cenbak gov says to review possible illegal money channels as remittance drops

4 Dec 2021

By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s top central bank official on Saturday said remittances have declined over the past six months, prompting authorities to examine if the sudden drop in foreign cash inflow was linked to the use of any illegal channels for transactions. Ajith Nivard Cabraal, the governor of the bank, told …

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Goldman Sachs launches green finance group with Beijing think tank

4 Dec 2021

BEIJING (Reuters) – Goldman Sachs Group Inc and the International Finance Forum (IFF), a Beijing-headquartered think tank, launched a green finance working group on Saturday, the two said. The working group will facilitate dialogue on climate action among senior executives from global corporations and researchers from leading institutions, according to a joint statement sent to …

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Explainer-How could China’s Didi delist from the New York Stock Exchange?

4 Dec 2021

By Echo Wang (Reuters) -China’s ride-hailing giant Didi Global Inc’s announcement on Friday that it plans to withdraw from the New York Stock Exchange and pursue a Hong Kong listing raises the question of how the move will happen. The decision, just five months after the company’s debut on the NYSE, was a stunning reversal …

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Stocks, yields slide after U.S. jobs report as Omicron looms

3 Dec 2021

By Herbert Lash and Lewis Krauskopf NEW YORK (Reuters) -Global equities and benchmark U.S. bond yields tumbled on Friday in volatile trade after data showed U.S. job growth slowed considerably in November and the Omicron variant of the coronavirus kept investors on edge. Nonfarm payrolls increased by 210,000 jobs, the fewest since last December, but …

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