(Reuters) – China Huarong Asset Management Company Ltd on Wednesday swung to an annual loss due to the weak performance of its distressed asset management business. The company, one of four major state-owned distressed debt managers, said total income from the unit fell 38% to 32.11 billion yuan ($4.66 billion) for the year ended Dec. …
China Huarong swings to annual loss as core business weakens Read More »
By Yantoultra Ngui and Kanjyik Ghosh (Reuters) -Singapore’s central bank said on Wednesday that a half-day disruption in the digital services of DBS Group Holdings was “unacceptable” and that the country’s largest bank may face “supervisory action”. DBS faced a two-day disruption to its digital banking services in late 2021, which prompted the Monetary Authority …
Singapore’s cenbank says digital services disruption at DBS ‘unacceptable’ Read More »
HONG KONG (Reuters) – Hong Kong-based on-demand logistics startup Lalatech Holdings Limited, backed by Hillhouse and Sequoia Capital, has submitted an application to the Hong Kong stock exchange for an initial public offering (IPO). Founded in 2013 as a mobile app-based on-demand delivery service platform, the company operates under Lalamove brand in Hong Kong and …
Logistics startup Lalatech files application for Hong Kong IPO Read More »
BEIJING (Reuters) -China Construction Bank Corp (CCB), the first of the country’s Big Five lenders to report annual results this week, posted an 8.8% rise in fourth-quarter net profit on Wednesday. China’s second-biggest lender by assets saw profits rise to 76.6 billion yuan ($11.12 billion) in the October to December period, compared with 70.4 billion …
PODGORICA (Reuters) – South Korea and the U.S. are seeking the extradition of Do Kwon, an international fugitive accused of a multibillion-dollar fraud, and another suspect arrested in Montenegro last week, the Montenegrin Justice Minister Marko Kovac said on Wednesday. Do Kwon, a South Korean national, is a cryptocurrency entrepreneur and former CEO of South …
S.Korea, US seeking extradition of crypto entrepreneur Do Kwon -Montenegro Read More »
ALMATY (Reuters) – Kazakhstan’s flagship airline, Air Astana, is speeding up its expansion plans to take advantage of a drop in air traffic via Russia and the reopening of China, chief executive Peter Foster told Reuters. Many global airlines stopped flights to Russia after it invaded Ukraine last year. As a result, Moscow has lost …
Kazakh airline says business is booming as Russia loses traffic Read More »
(Reuters) – Investors cheered a major revamp of Alibaba Group as a sign Beijing’s crackdown on the corporate sector was nearing an end, sending shares of the Jack Ma-founded company and its peers soaring on Wednesday. Alibaba said on Tuesday it was planning to split into six units and explore fundraisings or listings for most …
Alibaba’s breakup lifts hopes China’s regulatory winter is thawing Read More »
By Jason Xue and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – Investors are piling into China’s tech, media and telecom shares, with speculative bets on chatbot development crowding out other sectors in a scenario that offers a stark contrast with global caution. Mainland China computer, communications equipment and media indexes have surged between 29% and 35% this …
Chatbot dreams drive frenzied tech rally in China Read More »
TOKYO (Reuters) – Major Toshiba Corp shareholder 3D Investment Partners scaled back its stake the day before the Japanese conglomerate announced it had accepted a higher priced takeover bid, a regulatory filing showed on Wednesday. Singapore-based fund 3D Investment Partners Pte cut its stake in Toshiba to 4.90% from 7.20% on Wednesday of last week …
Major Toshiba shareholder 3D Investment Partners cut stake to 4.9% – filing Read More »
WASHINGTON (Reuters) -The Biden administration on Tuesday imposed new trade restrictions on five Chinese companies for allegedly aiding in the repression of the Uyghur Muslim minority but China rejected the accusation as “lies” aimed at constraining it. According to Hikvision’s 2021 half-year report, at least four of the companies facing new curbs belong to the …
US puts trade curbs on 5 Chinese firms over alleged role in Uyghur repression Read More »
