Asia

27 Mar China to woo belt and road partners at ‘digital silk road’ forum in April amid an increasingly divided cyberspace

Posted at 11:30h in Asia

China will host a forum next month to promote its digital-economy growth model and facilitate the development of digital infrastructure in partner nations of its Belt and Road Initiative (BRI), Beijing’s plan to grow global trade.The Digital Silk Road (DSR) Development Forum will open on...

27 Mar Distressed Chinese developer Country Garden downplays hiring New York-based Kroll for liquidation analysis

Posted at 11:02h in Asia

Embattled Chinese property developer Country Garden Holdings downplayed the possibility of a liquidation after it hired a financial advisory firm to assess the amount of money creditors could recover in such an event.“Hiring an independent third party to perform a hypothetical liquidation analysis has no...

27 Mar Wealth for Good Summit: Hong Kong fetes guests in latest charm offensive to lure global capital and talent

Posted at 10:20h in Asia

Global heads of ultra-rich family offices and their advisers have gathered in Hong Kong for the Wealth for Good Hong Kong Summit to explore the widening opportunities and possibilities as the city’s government pulls out all stops to lure capital and talent.The two-day summit is...

27 Mar Alibaba’s logistics unit Cainiao to double year-end bonus for employees, in morale-boosting move after scrapped IPO

Posted at 09:30h in Asia

Hangzhou-based Cainiao will launch an “entrepreneurship incentive plan” that will double the bonus pool allocated for the financial year ending March 31, 2025, according to company chief executive Wan Lin in excerpts from an internal letter seen by the South China Morning Post.That means employees...

27 Mar UBS marks completion of new building in West Kowloon that will house the Swiss bank’s Hong Kong staff

Posted at 08:51h in Asia

UBS and Sun Hung Kai Properties (SHKP) have held a ceremony marking the completion of a new building that will eventually house all the Swiss bank’s staff in Hong Kong.The 14-storey office tower in West Kowloon will bring the bank’s staff, who are currently spread...

27 Mar Opinion | Why Russia wants a Brics grain exchange – and what it means for the world

Posted at 08:30h in Asia

In a move that could shake up the global agricultural market, Russia is pushing to establish a Brics grain exchange. Russian President Vladimir Putin has endorsed the initiative, which seeks to rival the Western-dominated grain pricing system and challenge the US dollar as the world’s...

27 Mar Ant International pushes ‘significant’ expansion of Alipay+ tourist payment service amid major group overhaul

Posted at 07:00h in Asia

Chinese financial technology giant Ant Group is looking to “significantly” expand the global presence of its cross-border mobile payment service Alipay+, as the company pursues an organisational overhaul that includes a spin-off of its international arm.Ant International aims to considerably boost the number of partner...

27 Mar Pursuing passions: how HSBC steers private banking clients towards acquiring trophy assets through credit advisory solutions

Posted at 06:00h in Asia

A paradigm shift in the lifestyle and investment strategies of ultra-high-net-worth (UHNW) individuals has led to a growing interest in the acquisition of luxury assets, such as superyachts, private jets and highly collectible art.These assets, while generally recognised as valuable holdings, do not typically generate...

27 Mar US Federal Trade Commission could reach settlement with or sue TikTok over probe on children’s privacy, says source

Posted at 03:05h in Asia

The US Federal Trade Commission could resolve its investigation into Chinese-owned short video app TikTok over allegedly faulty privacy and data security practices by either filing suit or reaching a settlement in the coming weeks, a source told Reuters.Politico earlier reported the potential FTC action...

27 Mar Hong Kong stocks retreat as Alibaba’s scrapping of logistic unit IPO weighs on sentiment

Posted at 02:51h in Asia

Hong Kong stocks slid, taking the market benchmark to near two week lows, as the mood soured after the abrupt cancellation by Alibaba Group Holding of the Hong Kong listing plans for its logistics unit and a warning from electric vehicle maker BYD.The Hang Seng...