Dalian Wanda Group said it would sell Chinese tourism projects and hotels to Sunac China for $9.3 billion, marking a step back for the property giant from its theme park ambitions. The sale — the second-biggest real estate deal ever in China according to Reuters data — is however expected to help Wanda cut its […]
Read moreCompared to a year ago, investors are now more willing to overlook China’s economic slowdown, realizing that current cyclical bumps will not derail the country’s prospects, UBS CEO Sergio Ermotti told CNBC. China can still double the size of its economy even if it grows only 5 percent over the next 15 years, he added. […]
Read moreChinese internet giant Tencent launched its WeChat Pay payments service in Europe on Monday, challenging rival Alipay, which is owned by rival Alibaba’s affiliate Ant Financial. WeChat is a giant social media service that has 938 million monthly active users. Tencent has partnered with German payments firm Wirecard to allow European retailers to accept WeChat […]
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Op-Ed: Business is booming in Northeast Asia despite political frictions
Looking at the latest trade and trans-border direct investments in Northeast Asia, one may be surprised to read serious concerns expressed last week by Chinese, Japanese and South Korean leaders about their trilateral relations on the sidelines of the G-20 summit in Hamburg, Germany. Japan, in particular, is re-emerging as an export powerhouse, drawing large […]
Read moreCOSCO Shipping‘s and Hong Kong‘s Orient Overseas International‘s (OOIL) shares leapt on Monday after the Chinese shipping giant made a $6.3 billion offer for its smaller rival on Sunday. Analysts said the pricing of the deal, at a 31.1 percent premium to OOIL’s previous close, was high given the global container shipping industry is only […]
Read moreChina’s Dalian Wanda said in a statement that it will sell 76 hotels and 13 cultural and tourism tourism projects to Sunac, a Tianjin-based property developer for 63.18 billion yuan ($9.29 billion). The property-to-entertainment group said it will sell 76 of its hotels in China to Sunac for 33.6 billion yuan ($4.94 billion) and 91 […]
Read moreCurrency, United States Finance
Trump Jr. met with a Russian lawyer after she dangled information that could help his dad's campaign
Donald Trump Jr. agreed in 2016 to meet with a lawyer who was linked to the Kremlin after he was told she “might have information helpful to the campaign,” the son of the president admitted in a statement Sunday. The younger Trump indicated that his brother-in-law Jared Kushner and then-campaign boss Paul Manafort attended the […]
Read moreWhen Horan Fu decided to buy a 500-sq-foot apartment for HK$7.4 million last year, the biggest draw was the developer’s offer of 85 percent financing with an option to defer interest payments for the first three years. “The interest rate could be a lot higher after three years, but there’s also a chance that the […]
Read moreAfter a weekend of criticism of President Donald Trump‘s tweeted plan to create a cybersecurity unit in cooperation with Russia, the president posted on Twitter late Sunday U.S. time that he actually didn’t think it would happen. Donald J. Trump: The fact that President Putin and I discussed a Cyber Security unit doesn’t mean I […]
Read moreChinese inflation data for June came in line with expectations on a year-over-year basis when they were released on Monday. Those figures are closely watched by investors for what they say about the strength of the Chinese economy. China’s Consumer Price Index rose 1.5 percent year-on-year in June, according to Reuters. The Producer Price Index, […]
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