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China’s small business lending push could equal US$418 billion in new loans, S&P Global says

Beijing’s efforts to boost the availability of capital to the country’s smallest businesses could generate as much as 2.8 trillion yuan (US$418 billion) in new loans if the nation’s banks meet the government’s target to increase business lending this year, according to S&P Global.In March, Chinese Premier Li Keqiang called for the country’s biggest state-owned commercial banks to increase their loans to micro and small enterprises (MSE) by more than 30 per cent this year as China’s economic… Source link

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Chinese brokerage giant seeks to raise US$1.25 billion in Hong Kong’s largest IPO this year

Shenwan Hongyuan, China’s sixth largest securities firm by market value, is seeking to raise as much as US$1.25 billion in Hong Kong’s largest IPO this year to replenish its capital and expand internationally.Shenwan, already listed on the Shenzhen Stock Exchange, is set to become the 12th Chinese brokerage firm with dual listings in Hong Kong and mainland markets.The firm, controlled by state-owned Central Huijin Investment, plans to sell 2.5 billion shares priced between HK$3.63 and HK$3.93… Source link

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At US$10 billion, Uber’s listing to be largest since Alibaba’s in 2014

Uber Technologies has decided it will seek to sell about US$10 billion worth of stock in an initial public offering, and will make public the registration of the offering on Thursday, people familiar with the matter said on Tuesday.A listing of this size will make Uber’s one of the biggest technology IPOs of all time, the largest since that of Chinese e-commerce giant Alibaba Group Holding, which owns the South China Morning Post, in 2014.Uber is seeking a valuation of between US$90 billion and… Source link

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China 

Having dumped US$25 billion in assets, Wanda still about halfway through cutting its debt burden

Dalian Wanda Group has gone through a severe slimming exercise ever since it was placed on a watch list by Chinese regulators in April 2017 – for highly leveraged acquisitions around the world – as part of a government drive to crack down on debt and prevent private-sector borrowings from hurting China’s financial system.Other companies on the watch list include Anbang Group, HNA Group, Fosun Group and CEFC China.Wanda, the flagship of Wang Jianlin, China’s wealthiest man, is not halfway… Source link

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Standard Chartered to pay US$1.1 billion to resolve Iran sanctions investigations

Standard Chartered said on Tuesday that it agreed to pay US$1.1 billion to settle long-running investigations by United States and United Kingdom authorities into its handling of historical transactions by entities with connections to Iran and its financial crime controls.The settlements would allow the emerging markets lender to move beyond regulatory issues that have dogged it since the bank first reached an agreement with American regulators and prosecutors in 2012 over accusations that it… Source link

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First ever Saudi Aramco bond receives US$85 billion in orders

After being shunned by Wall Street and international investors last year, Saudi Arabia made a roaring comeback on Tuesday as oil giant Aramco received a blockbuster US$85 billion in orders for its maiden global bond.The order book is likely to be the largest ever seen in emerging markets, covering many times the US$10 billion to US$15 billion Aramco is expected to raise. It’s a sign of investors’ hunger for yield in a world where bonds from some developed nations have negative interest rates… Source link

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Gree Electric shoots up to daily limit as state parent seeks to sell US$6.2 billion stake in ownership shake-up

Gree Electric Appliances surged by the daily limit after the state-owned parent seeks to sell almost its entire stake in China’s biggest maker of air conditioners, a move that analysts said will further improve corporate governance by more aligning the interest between the management and shareholders.The shares jumped by 10 per cent to 51.93 yuan in Shenzhen on Tuesday morning trading, as the stock resumed trading after being suspended over the past five days. Zhuhai Gree Group, Gree Electric’s… Source link

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Vietnam 

Hoa Sen to issue VNĐ500 billion worth of bonds – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

In 2019, Hoa Sen Group plans net revenues and net profits of VNĐ31.5 trillion and VNĐ500 billion. — Photo ndh.vn HÀ NỘI — Giant steel maker Hoa Sen Group is set to issue non-convertible corporate bonds worth a maximum of VNĐ500 billion (US$21.46 million). The expected issue price is VNĐ100,000, the bond term will be two years and the coupon rate will be negotiated with investors. The issuance is expected to take place this year. Hoa Sen has informed shareholders it plans to issue shares and bonds or convertible bonds to existing shareholders,…

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A look at Mukesh Amabani’s US$2.5 billion shopping spree provides an insight into how he plans to take on Amazon in India

A US$2.5 billion spending spree involving more than two dozen deals provides some insight into how Mukesh Ambani is piecing together a strategy to take on Amazon.com in India.Asia’s richest man is sharpening his focus on e-commerce with a string of tiny acquisitions and stake purchases to face the world’s largest online retailer, after shaking up India’s telecommunications industry with cheap data and free calls.The acquisitions represent a new strategy for Ambani’s Reliance Group, whose… Source link

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‘Grateful and happy’: MacKenzie Bezos keeps US$36 billion in world’s biggest divorce deal, after surrendering Amazon control to husband Jeff Bezos

MacKenzie Bezos, wife of Amazon founder Jeff Bezos, announced Thursday they had finalised their divorce, and that she would surrender 75 per cent of the couple’s shares in the tech giant.MacKenzie Bezos also said she would give all of her stake in The Washington Post and the space exploration firm Blue Origin to her soon-to-be-ex-husband – the world’s richest man – as well as voting control of her remaining Amazon shares, in what is easily the world’s biggest divorce deal.pic.twitter.com… Source link

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