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Chinese sportswear giant Li-Ning’s shares surge close to eight-year high as profit beats estimates

Shares of Chinese sports brand Li-Ning sailed close to an eight-year high on Friday after the company beat full-year earnings expectations.The eponymous brand, founded by a former top Chinese Olympic gymnast in 1989, on Friday posted net profit of 715.26 million yuan (US$10.68 million) for 2018, up 39 per cent from the year before and beating the average estimate of 707.32 million by analysts polled by Bloomberg.Revenue rose 18 per cent to 10.51 billion yuan, beating predictions of 10.32… Source link

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Manila beats Boston, Paris, Tokyo as world’s hottest luxury home market

Manila is the hottest luxury home market in the world, beating out the likes of Boston, Tokyo and Paris, property consultancy Knight Frank said.Luxury prices shot up 11 per cent in 2018, as the capital city of the Philippines got a boost from a robust economy, shortage of luxury homes and increased appetite for them by wealthy foreigners living there.The ranking of 100 cities is based solely on how much their luxury home prices increased last year.The only other Asian city in the top 10 list… Source link

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Bourse operator Hong Kong Exchanges and Clearing reports record net profit of HK$9.3 billion, beats estimated

Hong Kong Exchanges and Clearing, which operates the Hong Kong stock exchange, the third-largest bourse in Asia, on Wednesday reported a record net profit of HK$9.3 billion (US$1.18 billion) for last year, an increase of 26 per cent over 2017.A listing reform introduced in April 2018 brought in a higher number of mega flotations and bigger turnover.The profit for last year beat the HK$7.96 billion earned in 2015. It was announced a day ahead of the release of a three-year strategic plan by HKEX… Source link

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Singapore 

Motorcyclist sent flying after car beats red light and crashes into him at Bukit Batok, Singapore News

An 18-year-old motorcyclist was taken to hospital after he was involved in an accident with two cars along Bukit Batok West Avenue 5 towards Brickland Road on Monday night (Feb 11). Stomp contributor Jason alerted Stomp to the accident and shared a video he had taken from his car’s dashboard camera. In the video, a car is seen beating the red light before hitting the rider, causing him to fly off his bike and land on the road. Several pieces of debris are seen being flung in all directions as…

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Boeing beats European rival Airbus in global aircraft order race for the first time since 2012

Airbus abandoned a five-year winning streak in the race for jetliner orders in 2018, slumping to its lowest share of the US$150 billion jet market in six years but narrowing a gap against US rival Boeing Co in aeroplane deliveries. The European company said it had won 747 net orders, down 33 per cent from 2017 despite a hefty contribution from the Canadian A220 jet which it took over in July. Boeing won the order race for the first time since 2012 with 893 orders. Why China is no closer…

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Vietnam 

VN beats Singapore to top ASEAN’s IPO markets – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – Việt Nam has leapt to become Southeast Asia’s top grossing market for initial public offerings in 2018 with total proceeds of US$2.6 billion. Singapore, who lost its crown to Việt Nam, retreated to fourth position this year with total IPO value of just $500 million. Thailand ranked second with total proceeds of $2.5 billion and Indonesia was in the third place with $1.2 billion, data from global consultant firm Ernst and Young (EY) showed. Việt Nam’s rise was attributed to large…

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Singapore 

Man in middle of divorce runs into wife, pins her down and beats her at Jurong bus stop, Singapore News

A couple in the middle of divorce proceedings crossed paths when they ran into each other on a bus on Sunday afternoon (Nov 11) — and it all went downhill from there. A Weibo user who posted a video of the couple’s dispute said that the incident occurred at a bus stop near Block 408 Jurong West Street 42, at around 4pm. In the nine-second clip that is believed to have been filmed by a bus commuter, the man can be seen pinning down a woman and punching her face…

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Hong Kong Exchanges and Clearing soundly beats estimates with 20 per cent jump in net profit in third quarter

The Hong Kong Exchanges and Clearing on Wednesday reported a better-than-expected 20 per cent jump in its net profit during the third-quarter, after its largest listing reform in decades sparked an increase in market turnover and new listings. HKEX, the local bourse operator and owner of the London Metal Exchange, said that its July-to-September quarter net profit stood at HK$2.44 billion (US$312 million), or HK$1.96 per share, up from HK$2.03 billion a year earlier. The earnings beat consensus market estimates of a 4.8 per cent year-on-year growth in net profit…

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China 

Trade war: Chinese exporters’ front-loading beats US tariffs – but for how long?

Guangzhou Seagull Kitchen and Bath Products, which relies on the US market for over a third of its revenues, has been running its production lines in China around the clock for the past three months, according to its workers. Uniformed employees outside its factory compound said they were working 12-hour shifts to expedite orders for early next year, making sure their tap handles arrive in the United States ahead of a scheduled tariff increase. The bathroom fixtures Seagull makes are on the list of US$200 billion worth of Chinese products…

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Honor chief boasts Magic 2 phone is so sophisticated it beats any handset out there – including the iPhone

Honor, one of the two smartphone brands owned by Huawei Technologies, released its most expensive handset to date on Wednesday, packed with a dozen of the Chinese company’s most advanced technologies and aimed at beating any handset in the market. “While we were designing Honor Magic 2, we did not even see [Apple’s] iPhones as a competitor,” said Zhao Ming, Honor’s president, during a media briefing in Beijing on Wednesday evening. The Honor Magic 2 series, which “carries the scientific and technological idealism” of Honor’s engineers, according to Zhao, contains…

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