Home 

Taiwan halts NT$1 billion investment by Hong Kong firm with ‘extreme deep connections’ to Beijing on security grounds

A part of the largest property development project in Taipei has been halted, after Taiwan’s ministry of economic affairs blocked a key investor citing national security concerns.Hong Kong-listed Nan Hai Corporation had bid through a wholly-owned subsidiary, Nan Hai Development, along with Malaysian property developer Malton Berhad to develop a property worth NT$1 billion (US$32.2 million) connecting metro stations, office buildings and shopping malls near the Taipei railway station. The… Source link

Read More
Global 

China halts Canadian meat shipments over bogus documents

China said on Tuesday it will turn away all meat shipped from Canada, just days before China and the United States sit down to work on settling a trade dispute that has also caught Canada in the crossfire.China launched an investigation after inspections found residues of a feed additive not accepted by China in Canadian pork, the Chinese embassy in Canada said in a statement on its website.That probe revealed as many as 188 “counterfeit” veterinary health certificates, the statement said, and… Source link

Read More
Home 

Carrie Lam joins homebuyers in expressing concern about prices rebound after Fed halts rate increases

Hong Kong’s head of government Carrie Lam Cheng Yuet-ngor has chimed in with a growing chorus of concern about a recent rebound in the city’s home prices, a day after the US Federal Reserve said it would not be increasing interest rates this year.“It does worry [me] because housing prices have already become very unaffordable, and they will become even more unaffordable if the reverse that we have seen since January this year is going to continue in the foreseeable future,” Lam said on the… Source link

Read More
Home 

‘Micro-home’ project T-Plus in Tuen Mun halts sales drive amid lacklustre buyer response

T-Plus, the residential project in Tuen Mun made up of micro homes smaller than a car parking space, said on Friday it will suspend sales with immediate effect, without providing a reason for the halt. The project, co-developed by mainland developer Jiayuan International Group and local developer Stan Group, announced the freeze after having sold just two units in the 356-unit project since its launch on November 29. On Thursday, AVA 228 a micro-home project in Sham Shui Po debuted its price list for an initial batch of 50 units,…

Read More
Singapore 

Red Dot Power halts electricity retail services amid ‘financial challenges’, Singapore News

SINGAPORE – Red Dot Power has pulled out of the electricity market, saying on Friday (Jan 4) that it had been a “financially challenging period”. The company was part of the initial soft launch for the open electricity market (OEM) in Jurong, signing up around 3,000 customers, including 120 households. When the open market roll-out to other parts of the island began on Nov 1, Red Dot Power decided to not sign up new customers as it evaluated its business. Now, it has decided to exit the OEM, and its…

Read More
Home 

China’s stock exchanges seek to curb overuse of trading halts amid complaints from foreign investors

China’s stock exchanges are seeking to rein in the overuse of trading suspensions among listed companies to improve trading efficiency, a move intended to encourage global index compilers to raise the weighting of the nation’s equities in their benchmarks. Trading halts for companies that plan stock-for-asset restructuring cannot exceed 10 days and suspension for ownership changes, general offers and equity incentives will be allowed for a maximum of two days, according to draft rules released on Wednesday night by the Shanghai and Shenzhen bourses seeking public comment. Senior executives will…

Read More
Home 

Filipino tycoon Lucio Tan’s Hong Kong leasing business of 500 subdivided flats halts after breaching land lease rules

Eton Properties, owned by the family of Filipino magnate Lucio Tan, has been forced to put a hard stop to its leasing business of more than 500 subdivided flats in Hong Kong after breaching land lease rules. The Lands Department also ordered the developer to return the properties to their original design or risk confiscation. Eton’s marketing manager Cynthia Cheung said the company would change the use of the affected properties but did not provide details. Since August last year, the developer had converted three luxury residential developments to house…

Read More
Home 

US court halts construction of Keystone XL oil pipeline, in blow to both Donald Trump and Justin Trudeau

A US federal judge on Thursday halted construction of the Keystone XL oil pipeline, arguing that President Donald Trump’s administration had failed to adequately explain why it had lifted a ban on the project. The ruling by US District Judge Brian Morris of the District of Montana dealt a stinging setback to Trump, Canadian Prime Minister Justin Trudeau, and the oil industry – and served up a big win for conservationists and indigenous groups. US President Donald Trump on Friday denounced the ruling as a political decision while the Canadian…

Read More
Home 

Hong Kong halts e-wallet top-ups after user reports of missing funds

Hong Kong’s smart banking push got a big slap down after the Hong Kong Monetary Authority ordered e-wallet operators to suspend auto transfers via the recently-launched Faster Payment System to top-up e-wallets such as Octopus, and the Hong Kong units of Alipay and WeChat Pay, after at least two fraud cases came to light. The suspension order, unveiled Wednesday evening, came after two women separately reported to the police last week that they lost money after discovering unauthorised transfers of funds to e-wallets of third parties worth a combined HK$110,000…

Read More
Home 

Yuan halts slide against US dollar after PBOC comments

China’s yuan halted its recent sharp slide on Friday after statements from senior regulators pledging support for private firms facing liquidity problems and because official data showed the central bank undertook smoothing operations to support the currency. Onshore yuan, traded in China, fell by as much as 0.07 per cent to touch a fresh 21-month low on Friday before rebounding 0.05 per cent Thursday’s close to stand at 6.9338 against the dollar. Offshore yuan, that is traded outside the mainland, rose 0.07 per cent to 6.9348 per dollar. The People’s…

Read More