25 March 2017

Finance & Property

  • Evergrande has some US$57 billion in debt, almost six times its market value. Photo: Bloomberg

    Evergrande plans US$1 billion notes to refinance debt

    Mar 24, 2017 1:12pm
    China Evergrande Group (03333.HK), the country’s top home builder, plans to issue up to US$1 billion in US dollar notes to refinance debt, a move which comes on top of a US$1.5 billion dual tranche issue...
  • Kaisa still has considerable assets in Shenzhen, where property prices continue to flourish. Photo: Reuters

    Kaisa set to release long-overdue results to end trading halt

    Mar 24, 2017 11:44am
    Kaisa Group Holdings Ltd., the first and only Chinese property developer to default on overseas debt, will hold a board meeting on Saturday to approve the publication of its 2014-1016 annual results, Bloomberg reports. Releasing the...
  • The Rockefeller family sold 14 buildings of its Rockefeller Center, bought them back and then sold them again to take advantage of huge swings in market prices. Photo: Fordos

    How the Rockefeller family adapts to the changing times

    - Mar 24, 2017 11:06am
    John D. Rockefeller, the patriarch of the Rockefeller family and America’s first billionaire, founded Standard Oil in 1870. It was the largest oil refinery in the weed of its time. As one of the world’s first...
  • The government usually moves to further tighten property policy about six months later if previous measures fail to cool the home market. Photo: HKEJ

    Where to look for signs of a peak-out in home prices

    - Mar 23, 2017 4:33pm
    Last week, I argued that the narrowing price gap with blue-chip housing estates and the rising down payment suggest the starter home boom may soon be over. However, that does not necessarily mean housing prices in...
  • The real estate and construction sector is a major contributor to China's hazardous smog, and accounts for 8 percent of the world's carbon emissions. Photo: Reuters

    Top Chinese property developers launch green index

    Mar 23, 2017 10:55am
    China’s largest real estate developers launched a green index to manage their cement, steel and iron suppliers as the world’s second-largest economy steps up its fight against climate change. The real estate and construction sector is...
  • In February last year, hackers breached Bangladesh Bank's systems and used the SWIFT messaging network to request nearly US$1 billion from its account at the New York Federal Reserve. Photo: Bloomberg

    US preparing cases linking North Korea to theft at NY Fed: WSJ

    Mar 23, 2017 9:23am
    US prosecutors are building cases that would accuse North Korea of directing the theft of US$81 million from the Bangladesh central bank’s account at the Federal Reserve Bank of New York last year, the Wall Street...
  • Li Ka-shing said home prices will continue to soar because of strong buying demand. Photo: Reuters

    Li Ka-shing says HK property rebound to last two years

    Mar 23, 2017 8:15am
    Hong Kong billionaire Li Ka-shing signaled the property rebound in the city could persist for as long as two years as growing demand outweighs government curbs, Bloomberg reports. “I cannot see how property prices would fall...
  • Lui Che-woo (inset) thinks owning a flat in Hong Kong is not an impossible dream -- at least for financial reporters. Photo: HKEJ

    Can a financial reporter afford a flat from tycoon Lui Che-woo?

    - Mar 22, 2017 12:18pm
    If it was a joke, it was a bad joke. Financial reporters posed a tough question to K Wah chairman Lui Che-woo: “How big a flat should a family of three live in when new homes...
  • Morgan Stanley is scouting for office space in Frankfurt and Dublin for an enlarged EU hub after it exits Britain. Photo: CNBC

    Goldman, Morgan Stanley to shift jobs from London on Brexit

    Mar 22, 2017 8:15am
    Senior Goldman Sachs Group Inc. and Morgan Stanley are preparing to shift staff and operations from London to elsewhere in the European Union as Prime Minister Theresa May sets up the UK’s exit from the bloc....
  • Highly prospective technology stocks have already gained too much. Meanwhile, it’s hard to judge how long the rebound of inexpensive old-economy stocks will sustain. Photo: HKEJ

    HK equities: Why stock-picking approach won’t work for now

    - Mar 21, 2017 4:00pm
    Led by a recovery in old-economy stocks, the benchmark Hang Seng index continues to gain ground. Nevertheless, we have also witnessed some sharp pullbacks in sectors that advanced notably previously such as Chinese property counters and...
  • A dozen Chinese cities unveiled fresh property curbs over the weekend targeted particularly at buyers with at least one property.  Photo: CNSA

    More home curbs could be on the way in China

    - Mar 21, 2017 11:08am
    Over the past month or so, home prices in a number of major Chinese cities have surged 30 percent. The buying frenzy started right after the Lunar New Year holiday and is quickly spreading from Beijing...
  • Amid the demand for digital payments, companies need to find a balance between customer desire for convenience and data security and privacy. Photo: WeChat

    Unlocking FinTech opportunities in the mobile payments era

    - Mar 21, 2017 10:05am
    Hong Kong has long been known as one of the world’s leading financial centers, able to attract some of the best global talent and multinational organizations. While its strengths are widely recognized, the city, however, cannot...
  • In this 2007 file photo, David Rockefeller arrives at the funeral service for New York socialite and philanthropist Brooke Astor at St. Thomas Church in New York. Photo: Reuters

    Billionaire philanthropist David Rockefeller dies at age 101

    Mar 21, 2017 8:17am
    Billionaire philanthropist David Rockefeller, former head of Chase Manhattan Corp. and patriarch of one of the most famous and influential American families, died on Monday, a family spokesman said. He was 101. Rockefeller, who reportedly gave...
  • Warren Buffett drew a salary of US$487,881 last year, up 4 percent from 2015. Photo: Bloomberg

    Buffett’s pay stays at US$100,000 but security costs rise

    Mar 20, 2017 10:48am
    Warren Buffett’s compensation for running Berkshire Hathaway Inc. edged up 4.0 percent last year to US$487,881 reflecting the higher cost of keeping the world’s second-richest person safe. Buffett’s pay was disclosed in a regulatory filing, in...
  • Asset bubble fears, rising inflation and capital outflow pressure are some of the factors that could prompt further tightening moves by China's central bank. Photo: Reuters

    Why investors shouldn’t be too complacent about rate prospects

    - Mar 17, 2017 4:52pm
    Hong Kong equities surged along with global markets after the US Federal Reserve announced a 25 basis points rate hike and kept its plan for two more rate increments within this year. Investors took comfort from...
  • Prices of starter homes have been rising much faster than those of blue-chip estates, narrowing the gap between the two. Photo: HKEJ

    Hong Kong’s starter-home boom may soon be over

    - Mar 16, 2017 5:06pm
    Hong Kong’s housing market has been picking up since the 2008 financial crisis. Private housing prices surged 195 percent between late 2008 and the end of January this year, translating into an annual increase of 14.3...
  • HNA Group has outlined ambitious plans for a large residential project in East Kowloon after snapping up four sites near the old Kai Tak airport. Photo: HKEJ

    The rise of HNA Group

    - Mar 16, 2017 4:09pm
    For HNA Group, the new star in Hong Kong’s property landscape, scoring a hat-trick is clearly not enough when it comes to bagging prime sites. How about a fourth win in less than five months?  Well,...
  • Last week's ouster of Park Geun-hye as president could trigger reforms and lead to a revaluation of South Korea stocks. Photo: Reuters

    South Korea stocks may offer deep value amid political turmoil

    - Mar 16, 2017 3:57pm
    South Korea’s Constitutional Court has unanimously upheld the legislature’s impeachment of Park Geun-hye as president, making her the first democratically elected leader in the country to be stripped of her powers. The current political uncertainty could...
  • A North Korean hacking group that has been blamed for a string of cyber-attacks since 2009 is suspected to be behind a recent campaign targeted at banks. Photo: Bloomberg

    N Korea group behind recent bank cyber-attacks: Symantec

    Mar 16, 2017 8:24am
    A North Korean hacking group known as Lazarus is likely behind a recent cyber campaign targeting financial organizations in 31 countries, according to Symantec Corp. The internet security firm said on Wednesday that researchers have uncovered...
  • AIA Group chief executive Mark Tucker (second from right) is seen at Tottenham Hotspur's sponsorship announcement. The 16 million-pound deal, the lowest among the top six Premier League clubs, is a bargain for AIA. Photo: Tottenham Hotspur

    Soccer fan Mark Tucker to lead HSBC

    - Mar 15, 2017 5:41pm
    Mark Tucker, the chief executive of Hong Kong-based insurer AIA, will become the first outsider to serve as chairman of HSBC Holdings. Tucker started his career as a professional footballer, making appearances for Wolverhampton Wanderers, Rochdale...

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