Date
17 September 2019

Business

  • The Hang Seng China Enterprises Index is seen as a fairly good gauge of the overall health of China’s economy. Photo: Reuters

    Are the HSCEI stocks oversold?

    - Sep 10, 2019 11:20am
    Trailing 12 months average price-to-earnings multiple of Hang Seng China Enterprise Index (HSCEI) stocks has slipped below the 8-mark last month, putting it lower than even the levels seen during the depth of the Asian financial...
  • China Telecom has entered into a co-build and co-share pact with Unicom for 5G infrastructure. Photo: Reuters

    China Telecom, Unicom team up on 5G network

    Sep 10, 2019 11:11am
    State-owned telecom operators China Telecom and China Unicom have entered into a partnership in relation to 5G mobile network infrastructure in an initiative that will help cut costs. The companies said in separate statements on Monday that...
  • Under Jack Ma’s leadership, Alibaba has grown to become Asia’s most valuable listed company, with a current market capitalization of US$460 billion. Photo: Reuters

    End of an era as Alibaba chairman Jack Ma steps down

    Sep 10, 2019 10:36am
    Alibaba Group chairman Jack Ma was due to step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the US$460 billion juggernaut at a time when the market for...
  • Huawei has described a US case against a Chinese professor linked to the firm as another example of ‘selective prosecution’. Photo: Reuters

    US charges Chinese professor in Huawei-linked case

    Sep 10, 2019 10:14am
    US prosecutors have charged a Chinese professor with fraud for allegedly taking technology from a California company to benefit Huawei, Reuters reports. Bo Mao was arrested in Texas on Aug. 14 and released six days later...
  • The eurozone economy is in a much better shape than it was in March 2015, when the European Central Bank introduced quantitative easing. Besides, interest rates can hardly be cut much further. Photo: Bloomberg

    It’s time for ECB to put quantitative easing on hold

    - Sep 10, 2019 9:53am
    With economic sentiment in the eurozone worsening rapidly, the European Central Bank is widely expected to announce a robust package of additional stimulus measures at its next meeting on Sept. 12. But although the ECB’s monetary...
  • A US judge has faulted Facebook for treating privacy as an 'all-or-nothing' proposition, where users would forfeit their privacy by sharing data. Photo: Reuters

    US judge allows Facebook privacy class-action suit to proceed

    Sep 10, 2019 9:37am
    A federal judge in the United States on Monday ordered Facebook to face most of a nationwide lawsuit seeking damages for letting third parties access users’ private data, Reuters reports. While dismissing some claims, US District...
  • Nissan Motor CEO Hiroto Saikawa expressed regret for his failure to turn around the automaker. Photo: Reuters

    Nissan CEO Saikawa to step down on Sept 16

    Sep 10, 2019 9:30am
    Nissan Motor chief executive Hiroto Saikawa will resign on Sept. 16, bowing to pressure after he admitted to being improperly overpaid and marking further upheaval at a company battered by scandal and plunging profits, Reuters reports....
  • Texas Attorney General Ken Paxton speaks during a news conference in Washington on Monday as he announces an antitrust probe into Google. Photo: Bloomberg

    US states launch antitrust probe of Google

    Sep 10, 2019 9:21am
    Attorneys general from 48 US states, the District of Columbia and Puerto Rico formally opened an antitrust probe on Monday into Google, Reuters reports. Texas Attorney General Ken Paxton, who is leading the probe, was quoted...
  • Nissan CEO Hiroto Saikawa has reportedly told some executives of his intention to step down after he admitted to improper compensation. Photo: Kyodo via Reuters

    Nissan starts vetting candidates to replace CEO Saikawa: report

    Sep 9, 2019 3:49pm
    Nissan Motor’s nominations committee was set to discuss potential successors for Hiroto Saikawa at a meeting on Monday as pressure deepened on the embattled chief executive after he admitted to improper compensation, Reuters reports, citing a...
  • Apple said it is working with its contract manufacturing partner Foxconn to resolve an issue pertaining to temporary workers in China factories. Photo: Reuters

    Apple, Foxconn admit to over-reliance on temp workers in China

    Sep 9, 2019 3:43pm
    Apple and its manufacturing partner Foxconn on Monday refuted allegations of lapses in people management, but admitted that they employed too many temporary workers in China factories, Reuters reports. Apple said it investigated the percentage of...
  • Repeated violent conflicts and transport disruptions have led to the cancellation or rescheduling of many international conferences and exhibitions in Hong Kong, the city’s finance chief says. Photo: Reuters

    HK Aug visitors down 40% on year: Paul Chan

    Sep 9, 2019 3:20pm
    Visitor arrivals in Hong Kong were down almost 40 percent in August compared to the same month last year, after a nearly 5 percent slide in July, amid the ongoing unrest in the city, according to...
  • Telenor says it has ended talks to combine its Asian telecoms assets with those of Axiata due to the complexity of the transaction. Photo: Reuters

    Telenor, Axiata abandon talks for Asia telecoms tie-up

    Sep 9, 2019 1:19pm
    Norway’s Telenor and Malaysia’s Axiata Group have called off talks to create a telecoms joint venture across South Asia and Southeast Asia, Reuters reports. The two sides have agreed to end the discussions “due to some...
  • People watch a protest from a shop in Central on Sunday. Photo: Reuters

    Some HK hotels now offer cheapest rates in Greater Bay Area

    - Sep 9, 2019 12:42pm
    A room at a four-star hotel near Victoria Park is now cheaper than similar accommodation in Zhongshan or Zhuhai, and you can walk into a Michelin-rated restaurant without any booking, especially on a Sunday. Another sign of...
  • China's export growth is expected to slow further in coming months. Photo: Bloomberg

    China Aug exports shrink amid sharp fall in US shipments

    Sep 9, 2019 10:15am
    China’s exports unexpectedly fell in August as shipments to the United States slowed sharply, pointing to further weakness in the world’s second-largest economy and underlining a pressing need for more stimulus as the Sino-US trade war...
  • British Airways said a strike action by its pilots over a pay dispute is unjustifiable. Photo: Reuters

    BA pilots ground planes in 48-hour strike over pay dispute

    Sep 9, 2019 9:48am
    British Airways (BA) pilots began a 48-hour strike on Monday, grounding most of the airline’s flights and disrupting thousands of travelers’ plans in unprecedented industrial action over a pay dispute, Reuters reports. The British Airline Pilots...
  • The People Bank of China said the digital currency would strike a balance between allowing anonymous payments and preventing money laundering. Photo: Bloomberg

    China says new digital currency will be like Facebook’s Libra

    Sep 6, 2019 3:05pm
    China’s proposed new digital currency would bear some similarities to Facebook’s Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, a senior central bank officer said. Mu...
  • Fitch said it expects the “one country, two systems” framework to remain intact, but added that public discontent is likely to persist. Photo: Reuters

    Fitch downgrades HK rating amid protests

    Sep 6, 2019 12:47pm
    Global credit rating agency Fitch Ratings on Friday downgraded Hong Kong’s long-term foreign currency issuer default rating to “AA” from “AA+” following months of unrest and protests in the Asian financial hub, Reuters reports. Hong Kong’s...
  • People take an escalator next to posters and sticker notes supporting the anti-government protest movement near the Central Government Offices in Admiralty on Thursday. Photo: Reuters

    Back to the futures for Hong Kong traders

    - Sep 6, 2019 12:45pm
    “Hong Kong has no future and no option.” This was the running joke among brokers on Thursday after the Hong Kong Exchanges and Clearing (00388.HK) suspended derivatives trading for the first time in its history. Not a...
  • Chinese authorities are expected to unveil soon an amended law related to private education system. Photo: Bloomberg

    Will China ban VIE structure for education firms?

    - Sep 6, 2019 10:48am
    China’s educational sector stocks suffered a sharp slide on Tuesday after Liu Wei, president of Renmin University, suggested that authorities should ban education-related firms from listing shares overseas using Variable Interest Entity (VIE) structure, to safeguard...
  • Employees work on a robot vacuum cleaner production line at a factory of Matsutek in Shenzhen. Photo: Reuters

    Chinese firms hit hard by US tariffs build up domestic brands

    Sep 6, 2019 10:36am
    For over a decade, manufacturer Matsutek plied away at building its business with big Western brands, supplying firms such as Philips and Honeywell with products made in its Chinese factories for the US and other overseas...