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Hong Kong’s stock market has a midsummer’s nightmare as fundraising dries up in worsening trade war and street mayhem

Hong Kong’s stock market is going through its worst summer since 2012, as fundraising activity dwindled to a single initial public offering (IPO) in August, while a worsening US-China trade war and deteriorating civic unrest weighed on sentiments.The number of companies seeking to raise capital this year fell by a third to 88 IPOs, with proceeds plunging by 55.9 per cent to US$10.82 billion, from the same period in 2018, according to Refinitiv’s data. July’s listings halved to 15 companies,… Source link

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Pursuit of China’s soccer dream turns into nightmare for internet tycoon

The founder of a Chinese internet company has been detained by police as they investigate a botched overseas acquisition.Although Baofeng Group said in a filing on Sunday night that its chairman Feng Xin was arrested by police, sources close to Feng said that the investigation and informal interrogation had started a few weeks ago, stemming from the failed takeover of London-based sports agency MP & Silva Holding in 2016.The failure of the deal also highlights how a U-turn in national policy… Source link

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Singapore 

Office Tea Episode 6: The Health Screening Nightmare, Singapore News

Company health screenings come free – so why is Le En so reluctant to take it? In this episode, actual tears were shed, and people were traumatised.  Follow and subscribe so you won’t miss a single episode of our new series, Office Tea!  To catch more of her antics, follow her on Instagram @goofy_feline!    WATCH EPISODE 5: Bosses and Things editor@asiaone.com Office Tea is an AsiaOne original series where our new colleague Le En embarks on her adventures (or misadventures) in her first steps into the into the corporate world with AsiaOne.…

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How China can avoid 2 per cent growth nightmare: cut interest rates, expand money supply and ramp up deficit spending

China’s growth slowdown is reaching crisis point. How bad could it be? Very bad, judging by the weaker signals coming out of China right now. Its 2019 GDP growth rate could end up well outside the consensus range of expectations, which has been between 5 and 7 per cent. Negative forces are building and China could hit a brick wall very soon with economic expansion collapsing, sinking to as low as 2 per cent in the worst-case scenario. A hard landing on such a scale would be unprecedented, catastrophic and…

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