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21 11, 2019

Hong Kong’s protests complicate already fraught trade war tensions, and the markets know it. So why are they so stable?

By | 2019-11-21T19:00:16+00:00 November 21st, 2019|Business|Comments Off on Hong Kong’s protests complicate already fraught trade war tensions, and the markets know it. So why are they so stable?

For most of 2017, the VIX Index, Wall Street’s “fear gauge” measuring the anticipated volatility in the benchmark S&P 500 index over the next 30 days, hovered around the 10-point level, just a tad above its all-time low. This was before the trade war e...

21 11, 2019

Iconic Hong Kong drinks maker Vitasoy sees profits fall 10 per cent in crisis-hit city

By | 2019-11-21T14:44:56+00:00 November 21st, 2019|Business|Comments Off on Iconic Hong Kong drinks maker Vitasoy sees profits fall 10 per cent in crisis-hit city

Iconic Hong Kong drinks manufacturer Vitasoy International saw its profit in the crisis-hit city fall almost 10 per cent in the six months to the end of September.The 79-year old company posted a 9.8 per cent drop in net profit to HK$174.7 million (US$...

20 11, 2019

New Central Bank governor sets out priorities in his role

By | 2019-11-20T16:47:00+00:00 November 20th, 2019|Business|Comments Off on New Central Bank governor sets out priorities in his role

The new governor of the Central Bank, Gabriel Makhlouf, has said that lessons should be learned from past mistakes to avoid "a return to the credit-house price spirals".

20 11, 2019

Henry Paulson is hopeful of a US-China trade deal soon, but both sides have to work hard to make further progress on their ties

By | 2019-11-20T14:17:16+00:00 November 20th, 2019|Business|Comments Off on Henry Paulson is hopeful of a US-China trade deal soon, but both sides have to work hard to make further progress on their ties

The US and China will have to work hard on their relations even after they reach a trade deal, as some “structural impediments will remain”, according to former US Treasury secretary Henry Paulson.“Last year I warned of pressures to decouple in four ar...

20 11, 2019

E-commerce firm Pinduoduo posts bigger quarterly loss as operating costs surge

By | 2019-11-20T12:33:33+00:00 November 20th, 2019|Business|Comments Off on E-commerce firm Pinduoduo posts bigger quarterly loss as operating costs surge

Chinese e-commerce services provider Pinduoduo reported a bigger-than-expected quarterly loss on Wednesday because of higher operating expenses, sending the company’s shares down 13 per cent before the opening bell in the United States.The Nasdaq-liste...

20 11, 2019

Central Bank chief warns any form of Brexit will be damaging for Ireland

By | 2019-11-20T12:13:00+00:00 November 20th, 2019|Business|Comments Off on Central Bank chief warns any form of Brexit will be damaging for Ireland

Gabriel Makhlouf said having a Withdrawal Agreement is ‘not the end of the road but only the end of the beginning’.

19 11, 2019

Pound touches six-month high on Brexit optimism

By | 2019-11-19T06:00:00+00:00 November 19th, 2019|Business|Comments Off on Pound touches six-month high on Brexit optimism

The pound rallied to a six-month high against the euro as the Conservatives threw their weight behind the Prime Minister Boris Johnson’s Brexit plan, raising hopes for a smooth departure from the European Union.

19 11, 2019

China enlists top tobacco firm, train maker for US$21 billion investment fund to help counter manufacturing slump

By | 2019-11-19T02:30:04+00:00 November 19th, 2019|Business|Comments Off on China enlists top tobacco firm, train maker for US$21 billion investment fund to help counter manufacturing slump

China is turning to its tobacco monopoly and a bunch of state-controlled entities to help form a 147 billion yuan (US$21 billion) fund to support a faltering manufacturing sector amid a bitter trade war with the US.The Ministry of Finance will infuse 2...

19 11, 2019

Hong Kong investors pin hopes on US-China trade deal to boost Hang Seng Index next year, shrug off protest impact

By | 2019-11-19T01:30:14+00:00 November 19th, 2019|Business|Comments Off on Hong Kong investors pin hopes on US-China trade deal to boost Hang Seng Index next year, shrug off protest impact

Hong Kong investors and stockbrokers remain largely positive about the market’s outlook for next year as they expect a possible US-China trade deal to more than offset the impact of the months long anti-government protests, a survey has found.Some 42 p...