SHANGHAI (Reuters) – China’s IPO applications slumped by a third in the first half of 2023, as earnings volatility, a slowing economy and tighter regulatory scrutiny deterred potential candidates. Chinese exchanges, which vet initial public offering (IPO) plans, accepted around 330 new applications during the period, down from more than 500 a year earlier, exchange …
China IPO applications fall by third in first half of 2023 Read More »
By Karin Strohecker LONDON (Reuters) – Some two dozen central banks across emerging and advanced economies are expected to have digital currencies in circulation by the end of the decade, the Bank for International Settlements (BIS) found in a survey published on Monday. Central banks around the globe have been studying and working on digital …
Twenty-four central banks will have digital currencies by 2030 – BIS survey Read More »
By Leika Kihara TOKYO (Reuters) -Many regional areas of Japan saw small and mid-sized firms aggressively raise wages, reflecting intensifying labour shortages, the Bank of Japan (BOJ) said on Monday, underscoring its growing conviction that wage hikes were broadening. In a quarterly report, the central bank also said some firms were considering raising the prices …
BOJ highlights broadening wage, price hikes in report on regional Japan Read More »
By Scott Murdoch and Donny Kwok HONG KONG (Reuters) -Alibaba Group and Tencent shares rose in Hong Kong on Monday after China’s $984 million fine against the Jack Ma-founded Ant Group appeared to signal the end of a regulatory crackdown on the country’s technology sector. Following the penalty on Friday, the Alibaba affiliate announced an …
Alibaba, Tencent shares rise as investors bet China’s tech crackdown is over Read More »
(Reuters) – The group representing China’s auto manufacturers has retracted a pledge to avoid “abnormal pricing” that it had brokered between 16 automakers, including Tesla, breaking off a truce in a brutal price war over electric vehicles. The China Association of Auto Manufacturers (CAAM) said in a statement on Saturday it recognised the agreement had …
Explainer-What’s behind China’s failed ‘truce’ in EV price war? Read More »
By Seunggyu Lim SEOUL (Reuters) – South Korea’s financial services regulator has asked major commercial banks to prepare around $4 billion in financing to support a credit cooperative hit by customer withdrawals, two banking sources familiar with the matter said on Monday. An official at the Financial Services Commission confirmed that banks had been asked …
Exclusive-South Korea asks banks to prepare $4 billion to support credit union – sources Read More »
By Clare Jim HONG KONG (Reuters) -For most young adults, moving out of home is a rite of passage but in Hong Kong – notorious for its chronic lack of housing – it’s usually an unaffordable dream. Silver Ho, a 26-year-old hair stylist assistant who was tired of arguing with his parents, counts himself as …
For Hong Kong’s youth, government-backed hostels offer a smidgen of housing hope Read More »
BEIJING (Reuters) -China’s producer prices fell at their fastest pace in over seven years in June, while consumer prices teetered on the edge of deflation, adding to the case for policymakers to use more stimulus to revive sluggish demand. The worsening factory-gate price deflation and the move by consumer prices towards deflation for the first …
China’s deflation pressure builds as consumer prices falter Read More »
(Reuters) – New Zealand’s infrastructure investor Infratil said on Monday it will acquire an 80% interest in interconnection platform Console Connect from Hong-Kong based telecommunications firm HKT Trust and HKT Ltd (HKT) for $160 million. The company, which is in the midst of strengthening its digital infrastructure portfolio, had also earlier disclosed plans to acquire …
NZ’s Infratil to buy majority stake in Console Connect from HKT Trust for $160 million Read More »
By Kanishka Singh WASHINGTON (Reuters) – Republican U.S. presidential candidate and Florida Governor Ron DeSantis said on Sunday he would take steps to revoke China’s permanent normal trade relations status if he won the 2024 White House race. “I favor doing that. I think we probably need Congress but I would take executive action as …
Republican 2024 hopeful DeSantis supports revoking China’s trade status Read More »
