Date
7 December 2019

BUSINESS

  • Exemptions for tariffs on pork are likely to be in higher demand, with less than two months until the Lunar New Year festivities, China’s peak consumption period. Photo: CNSA

    China to waive tariffs on some US soybeans, pork

    Dec 6, 2019 3:48pm
    China said on Friday it will waive import tariffs for some soybeans and pork shipments from the United States, as the two sides try to thrash out an agreement to defuse their protracted trade war. The...
  • Part of the huge cost relates to the extensive damage to MTR stations and facilities targeted by radical protesters. Photo: HKEJ

    MTR expects protest-related costs to reach HK$1.6 billion

    Dec 6, 2019 12:34pm
    MTR Corp. expects a decline in full-year profit amid a drop in passenger numbers and massive vandalism to its train stations and facilities during the months-long protests, the Hong Kong Economic Journal reports. Costs related to the social...
  • Mainland investors see opportunities to buy on the dip when the overall appetite for risk is dampened and valuations of Hong Kong stocks hover near three-year lows. Photo: AFP

    Mainland investors defy HK protests in hunt for bargain stocks

    Dec 6, 2019 12:32pm
    Chinese investors more than doubled their Hong Kong stock purchases this year, braving market headwinds from violent street protests and the protracted Sino-US trade war, which have battered the city’s economy, Reuters reports. Data from the...
  • US Treasury Secretary Steven Mnuchin said China is too wealthy for international aid as it is lending hundreds of billions of dollars of its own to poor countries. Photo: Bloomberg

    WB approves US$1 bln annual loans to China amid US objections

    Dec 6, 2019 10:21am
      The World Bank said its board has adopted a new plan to aid China with US$1 billion to US$1.5 billion in low-interest loans annually through June 2025, despite the objections of US Treasury Secretary Steven...
  • US authorities have issued a US$5 million bounty for information leading to the arrest of suspected Russian hacker Maksim Yakubets. Photo: FBI handout via Reuters

    US cracks down on Russian hackers after US$100 million spree

    Dec 6, 2019 9:45am
    US authorities took aim at a Russian cybercriminal group known as Evil Corp., indicting its Lamborghini-driving alleged leader and ordering asset freezes against 17 of his associates over a digital crime spree that has netted more...
  • Uber said 99.9 percent of all of its 2.3 billion US trips in 2017 and 2018 ended without any safety incidents. Photo: Bloomberg

    Uber received over 3,000 sexual assault reports in 2018

    Dec 6, 2019 9:22am
    Ride-hailing firm Uber Technologies Inc. said it had received more than 3,000 reports of sexual assault, including rape, related to its trips in the United States in 2018, at a time when it operated roughly 1.3...
  • Journalists and police officers stand outside the OPEC headquarters in Vienna on Thursday. Photo: Reuters

    OPEC, allies agree to deepen oil output cuts

    Dec 6, 2019 9:20am
    Oil producers led by Saudi Arabia and Russia agreed to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March, Reuters reports. The...
  • Saudi Aramco raised US$25.6 billion in its initial public offering, beating Alibaba's record US$25 billion listing in 2014. Photo: Reuters

    Aramco prices shares at top of range in world’s biggest IPO

    Dec 6, 2019 9:16am
    State-owned oil giant Saudi Aramco’s initial public offering (IPO) will be the biggest in history, but will fall short of the towering US$2 trillion valuation long sought by Crown Prince Mohammed bin Salman. Aramco priced its...
  • Facebook said it has issued more than US$4 million in refunds to customers whose accounts were used by ILikeAd to run unauthorized ads. Photo: AFP

    Facebook sues HK firm ILikeAd, alleges ad fraud

    Dec 6, 2019 8:47am
    Facebook Inc. sued a Hong Kong company that it said baited people into clicking on celebrities’ photos and bogus advertising links so that it could install malware and run ads for counterfeit goods, diet pills and...
  • Facebook's Libra has attracted criticism from regulators over its possible impact on the financial system. Photo: Reuters

    EU takes tough line on digital currencies

    Dec 6, 2019 8:29am
    European Union finance ministers agreed that private digital currencies like Facebook’s Libra should not be allowed in the European Union until the risks they could pose are clearly addressed, Reuters reports. The move confirms the bloc’s...
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