Business

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15 10, 2021

Alibaba’s global sales platform woos Chinese merchants kicked out of Amazon

By | 2021-10-15T14:00:23+00:00 October 15th, 2021|Business|Comments Off on Alibaba’s global sales platform woos Chinese merchants kicked out of Amazon

AliExpress, the global marketplace operated by e-commerce giant Alibaba Group Holding, is expanding its presence in the trading hub of Shenzhen, where a rapidly growing community of cross-border merchants suffered a recent crackdown by Amazon that saw ...

15 10, 2021

China Evergrande crisis caused by ‘poor management’, but an exception in healthy property market, central bank says

By | 2021-10-15T12:15:14+00:00 October 15th, 2021|Business|Comments Off on China Evergrande crisis caused by ‘poor management’, but an exception in healthy property market, central bank says

China’s central bank for the first time on Friday lambasted property giant Evergrande Group for its “poor management”, while saying the potential spillover effects to the financial system from a collapse of the developer are controllable.The comments f...

14 10, 2021

Apple CEO Tim Cook pledges donations to China’s flood-hit Shanxi province

By | 2021-10-14T07:11:08+00:00 October 14th, 2021|Business|Comments Off on Apple CEO Tim Cook pledges donations to China’s flood-hit Shanxi province

Apple has joined a growing list of tech companies pledging donations for flood relief efforts in China’s northern province of Shanxi, where heavy rains earlier this month left 15 people killed and 19,000 buildings destroyed.“As the Shanxi region turns ...

14 10, 2021

G7 finance officials say CBDCs should support, ‘do no harm’ to monetary and financial stability

By | 2021-10-14T05:15:12+00:00 October 14th, 2021|Business|Comments Off on G7 finance officials say CBDCs should support, ‘do no harm’ to monetary and financial stability

G7 finance officials on Wednesday endorsed 13 public policy principles for retail central bank digital currencies, saying they should be grounded in transparency, the rule of law and sound economic governance, the US Treasury Department said.“Innovatio...

13 10, 2021

Hong Kong tycoon Richard Li-backed fintech Hyphen in advanced merger talks with blank-cheque firm Provident

By | 2021-10-13T04:48:52+00:00 October 13th, 2021|Business|Comments Off on Hong Kong tycoon Richard Li-backed fintech Hyphen in advanced merger talks with blank-cheque firm Provident

Hyphen Group, a financial technology firm backed by Hong Kong billionaire Richard Li Tzar-kai, is in advanced talks to go public through a merger with blank-cheque company Provident Acquisition, according to people familiar with the matter.A transactio...

13 10, 2021

Evergrande: China faces ‘challenging trade-offs’ in addressing developer’s debt crisis, IMF says

By | 2021-10-13T04:00:14+00:00 October 13th, 2021|Business|Comments Off on Evergrande: China faces ‘challenging trade-offs’ in addressing developer’s debt crisis, IMF says

Beijing is facing “challenging trade-offs” as it seeks to address the crisis surrounding embattled developer China Evergrande Group and the pressure it is placing on the country’s property sector, according to the International Monetary Fund (IMF).As p...