Asia

15 Apr US grants Samsung up to US$6.4 billion in funding to produce advanced chips in Texas

Posted at 13:20h in Asia

“The US Department of Commerce and Samsung Electronics have signed a non-binding preliminary memorandum of terms to provide up to $6.4 billion in direct funding under the Chips and Science Act,” said a statement published by the Commerce Department.A general view of Samsung Electronics’ semiconductor...

15 Apr Hong Kong airport keeps top spot as world’s busiest for cargo volumes but still lags pre-pandemic levels

Posted at 13:05h in Asia

Hong Kong International Airport (HKIA) has retained its position as the world’s busiest cargo airport, though the volume of goods flowing through it last year still fell short of pre-pandemic levels.It registered a 3.3 per cent year-on-year increase in cargo volume to 4.3 million tonnes,...

15 Apr Saudi delegation visits mainland cities, Hong Kong to tout megalopolis Neom and ‘The Line’ city, seek collaboration

Posted at 12:30h in Asia

A delegation from Saudi Arabia has begun a seven-day visit to major Chinese cities including Beijing, Shanghai, Hong Kong, and Shenzhen to promote and seek potential partners for its ambitious urban project, Neom.The trip will feature closed-door forums where notable figures such as Beijing’s mayor...

15 Apr Hong Kong’s first spot bitcoin and ether ETFs get conditional approval as city stakes a lead on such products

Posted at 12:00h in Asia

Hong Kong has approved the launch of exchange-traded funds (ETF) that invest directly in bitcoin and ether, the world’s two largest cryptocurrency tokens, as the city looks to secure a leading position in the volatile virtual asset sector.Mainland Chinese fund house Bosera Asset Management’s overseas...

15 Apr China property: Beijing needs US$2.1 trillion to revive sector as rescue plans have not been good enough, Goldman says

Posted at 11:30h in Asia

China’s housing market has further room to weaken as efforts to revive the sector have not gone far enough to arrest a three-year slump, according to Goldman Sachs. The government may need to spend more than 15 trillion yuan (US$2.1 trillion) to fix the problems...

15 Apr China’s Fosun International sells stake in Belgian insurer Ageas to BNP Paribas to reduce debt, focus on core businesses

Posted at 10:00h in Asia

Fosun International, one of China’s largest private-sector conglomerates, has agreed to sell an 8.2 per cent stake in Belgian insurer Ageas to BNP Paribas for about €670 million (US$714 million) as part of an effort to reduce its debt amid economic turbulence.A deal involving the...

15 Apr Opinion | 3 Asia property market trends investors shouldn’t ignore

Posted at 08:30h in Asia

Everyone loves a good story. In Asia’s real estate industry, there are plenty of themes and trends that attest to the appeal and resilience of the region’s residential and commercial sectors. Whether it is the huge potential for an institutionalised rental housing market in China...

15 Apr For actress-turned-winemaker Bernice Liu, chasing her passion was a risk well worth taking

Posted at 08:00h in Asia

If given HK$8 million (about US$1 million) to spend, Bernice Liu, an actress, wine entrepreneur and philanthropist, would put it towards an around-the-world trip.“I’d first travel the world to all the wine regions,” Liu says. “Then I would probably settle in China, where I could...

15 Apr Palazzo Versace Macau opens its door to a new era of luxury

Posted at 06:58h in Asia

[The content of this article has been produced by our advertising partner.]On March 23, the grandeur of luxury hospitality celebrated a new milestone with the unveiling of Palazzo Versace Macau. Donatella Versace, the Chief Creative Officer Versace, graciously welcomed the elite of society to a night...

15 Apr China Vanke says well prepared to resolve liquidity problems, denies travel ban imposed on officials

Posted at 05:41h in Asia

Embattled China Vanke said it is well-prepared to resolve its liquidity problems and operational difficulties, rejecting allegations the company’s majority shareholders were diverting its assets. It also denied that travel restrictions were imposed on its key managerial staff.While dismissing default concerns, the developer told investors...