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Tech IPO adviser China Renaissance sees share price drop as full-year profit misses estimates

Shares of China Renaissance fell after full-year net profit came in below analysts’ estimates despite a healthy jump in revenues.The investment bank, which focuses on providing financial services to new-economy companies and entrepreneurs, lost 4.5 per cent to HK$22.20 by midday on Wednesday. That marks a 30.82 per cent fall from its listing price last September.The company’s 2018 net profit was up 15.8 per cent from a year earlier to US$67.3 million, below estimates of US$68.02 million among… Source link

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Vietnam 

Đà Nẵng tightens land management to combat price hikes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The city of Đà Nẵng has issued a document requesting the management and supervision of real estate brokerages and land transactions be enhanced to prevent unusual price hikes caused by the spread of false information. Individuals and organisations found to have fabricated rumours regarding development projects would be strictly punished, Đà Nẵng Standing Party Committee said. Việt Nam News Agency reported that false rumours disseminated by brokers contributed to hugely inflated land prices in the central city recently. Real estate…

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Hong Kong slips to 22nd spot globally in home price inflation as property curbs bite, survey finds

Hong Kong’s housing market has slipped well down the list when it comes to the pace of annual percentage gains among major cities worldwide, according to the latest survey by Knight Frank.The city fell to 22nd place from the No 1 spot a year ago among 56 global markets tracked, as average home prices tumbled 6.2 per cent in the final three months of 2018, according to the Knight Frank global house price index.For the 12 months through December, Hong Kong home prices rose 5.8 per cent, easing… Source link

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Singapore 

Singapore ‘clear, consistent’ in position that Malaysia has lost right to review water price under 1962 agreement, Singapore News

SINGAPORE – Singapore has always been prepared to settle disputes via appropriate international third-party dispute settlement procedures, on mutually agreed terms, said a Ministry of Foreign Affairs (MFA) spokesman. The Republic has also been clear and consistent in its position that Malaysia has lost the right to review the price of water under the 1962 Water Agreement, the spokesman said on Wednesday (March 13) in response to comments by Malaysian Foreign Minister Saifuddin Abdullah. No review of the price of water has taken place, the spokesman added. Mr Saifuddin, who…

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Are Chinese electric car start-ups doomed after Tesla’s big price cuts?

In recent years there has been a wave of Chinese electric vehicle makers – from Byton to Nio to Xpeng – looking to take on Elon Musk’s Tesla, encouraged by government support for a move away from the internal combustion engine. Now that the Palo Alto-based giant has slashed prices ahead of commencing local production later this year in China, people are asking if the burgeoning crowd of domestic challengers are going to run out of road. It has become such a hot topic that even Miao Wei, China’s… Source…

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China 

China’s producer price index holds steady in February as deflation stalks economy

China’s producer prices were stable at a very low level in February, with the risk of a fall back into damaging deflation in the coming months hanging over the economy.Producer price inflation (PPI) edged up 0.1 per cent in February from a year earlier but was the same rate as in January, which was a 28-month low. The February result was below expectations of a rise to 0.2 per cent, according to a Bloomberg survey. As in January, the PPI eked out a tiny gain amid broad-based weakness in prices……

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Vietnam 

Power price to rise 8% this month – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Power prices will increase by an average of 8.36 per cent at the end of this month, said deputy minister of Industry and Trade (MoIT) Hoàng Quốc Vượng on Tuesday. Accordingly, the retail electricity price will be adjusted from the current VNĐ1,720 (7 US cents) per kWh to VND1,864 per kWh (8 cents) excluding value-added tax. Vượng said the power price rise was one solution to improve the finances of the electricity sector. Electricity prices have been adjusted seven times…

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Vietnam 

Cashew price to recover this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Cashew prices are expected to recover this year on the global market and producers should promote cooperation to remain stable.–  Photo tintucnongnghiep.com HÀ NỘI – Cashew prices are expected to recover this year on the global market and producers should promote cooperation to remain stable. Experts spoke at an international conference on the cashew industry held in Huế from March 1-3 to promote close and long-term relationships between cashew companies and create a basis for…

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Vietnam 

Gas price increases for third straight month – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A gas shop in HCM City. — VNA/VNS Photo Viet Nam News HÀ NỘI — Gas prices in the south in March increased by VNĐ17,000 (72 US cents) for a 12kg canister on Friday. Accordingly, the maximum retail gas price for consumers in HCM City this month is about VNĐ350,000 per 12kg canister. Gas prices have increased three times in the first three months of this year with a total increase of about VNĐ33,000 a 12kg canister. A representative of Saigon Petro said that global prices in…

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The ‘unsustainable’ price of lab-grown diamonds has collapsed 60 per cent, says De Beers, after stunning industry with synthetic stones for jewellery

Wholesale prices for lab-grown diamonds have fallen by up to 60 per cent since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall.De Beers, part of mining group Anglo American, shocked the diamond industry last year when it announced it was reversing a decades-old policy of selling natural diamonds only for jewellery and synthetic stones for industrial uses.Its Lightbox brand, created for… Source link

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