Date
23 February 2017

Business

  • The rising proportion of positive profit alert points to an improving earnings trend and thus a stronger equity market ahead. Photo: HKEJ

    Profit alerts: Why Hong Kong stocks see brighter days ahead

    - Feb 23, 2017 4:49pm
    HSBC Holdings (00005.HK) has posted disappointing results for 2016. That has stoked concerns about other heavyweight stocks. However, the composition of profit alerts issued by listed companies point to a relatively positive outlook. There are two...
  • Buyers of this Tesla model and other electric cars will now have to shoulder 80 percent of the tax payable. Photo: HKEJ

    Tesla falls victim to Paul Chan’s budget

    - Feb 23, 2017 2:49pm
    Former financial secretary Antony Leung used to love Lexus, but Paul Chan, the latest official to succeed him in the post, apparently has no regard for Tesla. That is perhaps why in his first (and possibly last) budget,...
  • A high dividend yield is a major attraction of HSBC shares. Photo: Reuters

    A taxi driver retires at 33 after amassing 40,000 HSBC shares

    - Feb 23, 2017 1:32pm
    Last month a 33-year-old taxi driver posted a statement on social media that he has decided to retire. He said that since he started driving a taxi when he was 22, he has been saving up every...
  • Apple’s new futuristic campus is seen under construction in Cupertino, California in this aerial photo taken in January. Credit: Reuters

    Apple to open its new ‘spaceship’ campus in April

    Feb 23, 2017 9:05am
    Apple Inc. said on Wednesday that it will open its new multi-billion dollar futuristic campus in April and spend six months moving employees into the 175-acre facility. The new Cupertino campus, which has been dubbed as...
  • The US Federal Reserve is laying the groundwork for another hike in short-term borrowing costs. Photo: Bloomberg

    Fed officials see rate hike ‘fairly soon’

    Feb 23, 2017 8:46am
    Federal Reserve officials expect another hike in the US benchmark interest rate “fairly soon” due to an improving economy and anticipated inflationary pressures. According to minutes released Wednesday from the central bank’s last policy meeting, some officials...
  • A wheel of a prototype of the Tesla Model 3 is shown on display at a factory in Nevada. Tesla says the Model 3 will be ready for volume production by September. Photo: Reuters

    Tesla Model 3 on course for volume production by September

    Feb 23, 2017 8:03am
    Tesla Inc. says its mass-market Model 3 sedan is on track for volume production by September, relieving investors who see the electric vehicle as the avenue to profitability for the young company. But the carmaker’s operations...
  • Chevron and Zhenhua Oil signed a preliminary pact in January and are trying to complete the deal by June. Photo: Reuters

    China state firm in deal to buy Chevron’s Bangladesh gas fields

    Feb 23, 2017 7:53am
    China’s state-run Zhenhua Oil has signed a preliminary agreement with Chevron to buy the US oil major’s natural gas fields in Bangladesh worth about US$2 billion, Reuters reports. Zhenhua is a subsidiary of China’s defense industry...
  • Jacinto Tong attributes his group’s success to a key decision to snap up commercial properties during a severe downturn triggered by SARS outbreak early last decade. Photo: HKEJ

    The art of the deal: Lessons from Gale Well Group

    - Feb 22, 2017 5:29pm
    Gale Well Group made a few key decisions that helped the Hong Kong-based property investment firm grow its once-small portfolio to its current size of HK$35-40 billion. In interviews with the media, founder Jacinto Tong Man-leung...
  • Financial Secretary Paul Chan expects Hong Kong economy to expand 2-3 percent in 2017. Photo: HKEJ

    Financial Secretary Paul Chan sees slight pickup of GDP growth

    - Feb 22, 2017 1:19pm
    After a weak start, Hong Kong’s economy gradually improved over the course of 2016 and eventually closed the year with a 1.7 percent gross domestic product growth. On the back of the recovering trend, Financial Secretary...
  • Mohammed Barkindo says he believes that "what is good for OPEC is good for the US". Photo: Bloomberg

    OPEC chief seeks energy dialogue amid surge in US shale output

    Feb 22, 2017 9:24am
    OPEC’s top official has sought to allay speculation that a surge in US shale output could impact the oil cartel’s agreement to cut oil production. Addressing an oil conference in London Tuesday, OPEC Secretary-General Mohammed Barkindo...
  • The Verizon logo is seen on one of their retail stores in San Diego, California. Verizon conducted brand studies and found that Yahoo's reputation was holding up after the hacks. Photo: Reuters

    Verizon, Yahoo agree to lowered US$4.48 bln deal

    Feb 22, 2017 7:48am
    Verizon Communications Inc. said it would buy Yahoo Inc.’s core business for US$4.48 billion, lowering its original offer by US$350 million in the wake of two massive cyber attacks at the internet company. The closing of...
  • Wall Street rally has spurred gains in equity markets in many parts of the world, including Hong Kong, but investors would do well not to get carried away. Photo: Reuters

    Enjoy the equity bubble but stay alert for sudden reversal

    - Feb 21, 2017 5:13pm
    The stock market meltdown two years ago saw numerous China and Hong Kong funds suffer badly. Following the debacle, fund managers were criticized for failing to book profits in time on the gains recorded earlier. Well,...
  • PetroChina's parent, China National Petroleum Corp, is among the winners of stakes in Abu Dhabi's largest oil concession. Photo: Bloomberg

    Chinese firms grab 12% stake in Abu Dhabi oil project

    Feb 21, 2017 3:14pm
    Chinese firms have emerged as big winners in the contest among foreign bidders for stakes in Abu Dhabi’s largest oil concession, grabbing a combined 12 percent of the venture. Bloomberg reports that Abu Dhabi National Oil Co. the...
  • Hong Kong Disneyland hopes its financials will improve after the planned addition of new facilities. Photo: CNSA

    HK Disneyland loss widens in FY16 as visitor numbers fall 10%

    Feb 21, 2017 12:13pm
    Hong Kong Disneyland has reported a net loss of HK$171 million (US$22.03 million) for the fiscal year ending September 2016, posting back-to-back annual losses after a HK$140 million deficit in the previous year. In an announcement...
  • The ‘big crocodiles' will not be allowed to suck the blood out of small investors, proclaims Liu Shiyu, chairman of the China Securities Regulatory Commission. Photo: Sohu

    CSRC’s Liu wants to take on the ‘big crocodiles’

    - Feb 21, 2017 11:31am
    Liu Shiyu, chairman of the China Securities Regulatory Commission (CSRC), is known for being outspoken. Previously, he called insurers engaged in leveraged buyouts using inappropriate funds “barbarians” and “evil monsters”. Now he is declaring war on...
  • E-commerce giant Alibaba Group has struck a partnership with another brick-and-mortar Chinese retailer. Photo: Bloomberg

    Alibaba teams up with retail conglomerate Bailian Group

    Feb 21, 2017 8:40am
    Alibaba Group Holding has entered into a strategic partnership with China’s Bailian Group, in the e-commerce giant’s latest tie-up with a traditional brick-and-mortar retailer. “The companies will leverage the power of big data to achieve integration...
  • An Amazon package is seen after being delivered in London. The beefed-up workforce is expected to provide faster delivery, more selection and better value. Photo: Reuters

    Amazon to create 5,000 more jobs in Britain

    Feb 21, 2017 7:53am
    Online retailer Amazon is set to create more than 5,000 jobs in Britain this year, boosting its investment in the country once more even as it prepares to leave the European Union. Amazon, along with other...
  • Kim Dotcom and his co-accused reportedly cost film studios and record companies more than US$500 million and generated over US$175 million by encouraging paying users to store and share copyrighted material. Photo: Reuters

    NZ court rules Megaupload founder can be extradited to US

    Feb 20, 2017 4:31pm
    A New Zealand court ruled on Monday that internet entrepreneur Kim Dotcom could be extradited to the United States to face charges relating to his Megaupload website, which was shutdown in 2012 following an FBI-ordered raid...
  • Railway ventures, including high-speed rail projects and urban transit initiatives, will be a key focus of infrastructure spending in China this year. Photo: China Daily

    China needs more private capital in fixed-asset investment push

    - Feb 20, 2017 4:12pm
    China has seen various local governments unveil their economic growth targets in recent weeks. Among those that made their plans public, 11 provinces have aimed for a slower expansion pace this year while six have set...
  • Kraft Heinz has walked away from a 'friendly' bid for Anglo-Dutch rival Unilever as it felt a deal won't be easy. Photo: Reuters

    Kraft abandons US$143 bln offer for Unilever

    Feb 20, 2017 4:09pm
    Kraft Heinz Co. has withdrawn its offer for a US$143 billion merger with Unilever Plc., according to a joint announcement from the two companies on Sunday. Kraft, the US-based food giant, abandoned its plan for the...

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