By Farah Master HONG KONG (Reuters) -Macau said on Friday six casino firms will invest around $15 billion as part of new 10-year contracts they signed to operate in the world’s biggest gambling hub, with the spending on non-gaming activities to exceed gaming spend by more than 10 times. The signing of the contracts eases …
Macau casinos to invest $15 billion over next 10 years, mostly on non-gaming Read More »
SHANGHAI (Reuters) – China’s securities regulator said on Friday it will launch a reform this month to bring the country’s securities settlement system more in line with international practices, to attract foreign money inflows. The China Securities Regulatory Commission (CSRC) in January published draft securities settlement rules that embody the principle of Delivery Versus Payment …
By Jihoon Lee SEOUL (Reuters) -South Korea’s mammoth state pension fund will hedge foreign exchange risks for up to 10% of its overseas investment compared with zero up to now, the welfare ministry said on Friday, a move expected to ease dollar demand on the onshore FX market. The fund has grown in size and …
South Korea pension fund opens up FX hedging limit to maximum 10% Read More »
BEIJING (Reuters) – China Mineral Resources Group (CMRG), a new state-owned agency, is set to be the world’s biggest iron ore buyer as soon as next year, when it will start buying for about 20 of the largest Chinese steelmakers, Bloomberg News reported. CMRG was set up this year to buy raw materials for the …
China’s new state-run agency to start iron ore purchases – Bloomberg News Read More »
By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s ruling bloc formally agreed on Friday to revise the national tax code for the next fiscal year starting in April, aiming to shift household assets into investment as part of Prime Minister Fumio Kishida’s “new capitalism” agenda. The ruling Liberal Democratic Party (LDP) and its ally Komeito also …
Japan approves tax-code revision, OKs defence tax, with delay Read More »
By Scott Murdoch SYDNEY (Reuters) – Asian equity capital markets activity, languishing at three-year lows now, is set to get a much needed boost in 2023 from China’s expected re-opening to the rest of the world after a spate of COVID-19 lockdowns, dealmakers said. An easing of China’s two-year tech sector crackdown, coupled with a …
China’s re-opening to lift Asia equity capital market volumes from three-year lows Read More »
By Nell Mackenzie LONDON (Reuters) – Well-known activist short-selling hedge funds expect to find more companies squeezed by tough economic conditions in 2023, potentially increasing instances where balance-sheet sinkholes are hidden. Some $321 billion worth of U.S. and European speculative-grade debt is due for refinancing over the next 12-14 months. Defaults may double in 2023, …
For bear stock pickers, 2023 is full of rich pickings Read More »
By Naomi Rovnick and Dhara Ranasinghe LONDON (Reuters) -Forget a year-end rally in financial markets. The message from major central banks is loud and clear: the battle to tame inflation is far from over. Central banks in the United States, euro zone, Britain and Switzerland met on Wednesday and Thursday and all slowed the pace …
No Santa rally for markets as central banks dampen peak rate hopes Read More »
TOKYO (Reuters) – Sony Group Corp is considering an investment of about 800 billion yen ($5.83 billion) to build a factory to make smartphone image sensors in western Japan, the Nikkan Kogyo newspaper said on Friday. The plant would be located in Kumamoto prefecture and Sony plans to bring it online in 2025 at the …
Sony considers $5.8 billion smartphone sensor factory in Japan – media Read More »
BEIJING (Reuters) – China’s economy is expected to pick up, but “arduous efforts” are needed to sustain the recovery in growth due to an adverse external environment and the global economy’s loss of momentum, the country’s top state planner said on Friday. The comments came after release of worse-than-expected economic activity data for November. While …
