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Hong Kong

Chinese developer Kaisa faces default as debt swap plan rejected

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Chinese developer

BEIJING: Embattled Chinese developer Kaisa Group is facing a default after saying on Friday it had failed in a bid for a debt swap that would buy it crucial time, warning there was “no guarantee” it would be able to meet its payment obligations. The company is one of several real estate firms that have plunged … Read more

Hong Kong reports 3 new imported COVID-19 cases

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Hong Kong reports 3 new imported COVID-19 cases

HONG KONG, Dec. 3 (Xinhua) — Hong Kong’s Center for Health Protection (CHP) reported three new imported cases of COVID-19 on Friday, taking the total tally of confirmed cases in the financial hub to 12,448. The newly reported cases all involved mutant strains. A total of 50 cases have been reported in the past 14 … Read more

Need stressed to devise policies for economic growth

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LCCI for business community representation in policy-making

LAHORE: Speakers at the launching ceremony of a report have stressed the need for devising short-term and long-term strategies for achieving potential growth of the economy. Speaking at the launching of “The state of the economy: changing world-Pakistan reset” at the Lahore Chamber of Commerce and Industry (LCCI), they highlighted critical challenges that needed to … Read more

Hong Kong quarantine pushes Cathay pilots to ‘breaking point’

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Hong Kong quarantine pushes Cathay pilots to 'breaking point'

HONG KONG, Cathay Pacific has been hit by a wave of pilot resignations in recent weeks as resentment over Hong Kong’s strict quarantine regime boils over and crew scramble for emerging opportunities overseas. The departures come as Hong Kong ties itself to Beijing’s closed-border zero-Covid strategy — a move that has kept the city coronavirus-free … Read more

‘Simpsons’ Tiananmen episode missing from Disney+ in Hong Kong

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Simpsons

An episode of “The Simpsons” in which the cartoon American family visit Tiananmen Square is missing from the Disney+ streaming service in Hong Kong, adding to concerns about mainland China-style censorship in the city. It comes at a time when authorities are clamping down on dissent, with curbs on speech becoming a norm in the … Read more

China’s Twitter-like Weibo plans $547 million Hong Kong listing

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weibo

BEIJING: US-listed Chinese microblogging platform Weibo is seeking to raise up to $547 million in a share offer in Hong Kong, documents showed on Monday, the latest China tech company to list closer to home as tensions with the United States rise. Several US-listed Chinese tech firms such as Alibaba have held initial public offerings in … Read more

How omicron is affecting Middle East markets

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omicron

DUBAI: The new Covid-19 variant, omicron, has prompted global economic concerns, as fears of its spread begin to affect stock markets and oil prices, Arab News reported. Saudi Arabia’s main market, the Tadawul All Share Index, opened 5.3 per cent lower on Sunday, trading near 10,700 points. The Dubai Financial Market was down 8.49 per cent in … Read more

Hong Kong protest film wins Taiwan’s Golden Horse award

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Taiwan's Golden Horse award

A film on Hong Kong’s pro-democracy movement won the best documentary at Taiwan’s Golden Horse Awards on Saturday, at an event dubbed the Chinese-language “Oscars” that went ahead without the legion of mainland filmmakers and stars who once used to walk its red carpet. Hong Kong director Kiwi Chow’s “Revolution of Our Times” takes its … Read more

Chinese city eases rules for developers amid cash crunch

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Chinese city

BEIJING: The Chinese city of Chengdu has announced measures to make it easier for developers to sell properties, making it the first to loosen restrictions on the sector that has come under intense pressure following a debt crackdown by Beijing. The announcement comes after several real estate companies, led by industry giant China Evergrande, were plunged … Read more

Cathay Pacific to cut flights as Hong Kong Covid rules bite

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Cathay Pacific to cut flights as Hong Kong Covid rules bite

HONG KONG, Cathay Pacific on Thursday said it will slash passenger flights into Hong Kong next month as the city’s strict travel curbs keep international travellers away while rivals see prospects improve. Hong Kong has maintained some of the world’s harshest quarantine measures and travel restrictions during the pandemic, which has kept infections low but … Read more

1 killed, 10 injured after bus rolls over in Hong Kong: media

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1 killed, 10 injured after bus rolls over in Hong Kong: media

HONG KONG: One person was killed and 10 others were injured after a double-decker bus tipped onto its side on Thursday night in Hong Kong, local media reported. The accident happened at about 11:00 p.m. local time on Shing Wan Road in Tai Wai, and the cause of the accident was unclear. Eleven people were … Read more

Australian reporter refused Hong Kong visa in latest media blow

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HONG KONG: Hong Kong has refused to renew the visa of an Australian correspondent from The Economist, the newspaper’s chief editor said, as authorities in the Chinese city tighten a crackdown on free speech and dissent. Sue-lin Wong is at least the third foreign journalist working in Hong Kong to be forced out in recent years. Press … Read more

Hong Kong activist becomes youngest convict under security law

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Hong Kong

HONG KONG: A 20-year-old Hong Kong independence activist was facing life in prison Wednesday after becoming the youngest person convicted under the city’s national security law, but told the court he had “nothing to be ashamed of”. Tony Chung had pleaded guilty to secession in the fourth case to come to trial under the sweeping … Read more

Pakistan wins 3-2 against Thailand at Asian Volleyball Championship

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Pakistan wins 3-2 against thailand at Asian Volleyball Championship

Pakistan started its journey at the Asian Volleyball Championship against 3-2 against Thailand. At the opening of the tournament taking place in Japan. The credit for the Paksiatn’s win goes to collective teamwork that helped them make several comebacks and win the game. Pakistan team had lost the first set at 22-25, despite a 10-7 … Read more

Asia-Pacific countries witness rocketing Covid-19 cases 

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Pakistan Coronavirus Update

HONG KONG: Asia-Pacific countries kept witnessing rocketing Covid-19 cases as India’s total tally neared 32 million on Tuesday. India’s total tally rose to 31,998,158 as 28,204 new cases were registered during the past 24 hours across the country, showed the federal health ministry’s latest data. Besides, as many as 373 deaths due to the pandemic … Read more

Investment platform launched in Hong Kong 

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HONG KONG: Former chief executive of Hong Kong Exchanges and Clearing Limited Charles Li announced Tuesday the launch of an investment platform to channel international capital to mainland small firms. Speaking at a press conference, Li highlighted the vitality and growth potential of mainland’s small businesses and said he hopes to develop a revolutionary investment … Read more

Earthquake jolts Hasaki, Japan 

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Earthquake Tremors Felt In Different Cities Including National Capital

HONG KONG: An earthquake with a magnitude of 5.1 jolted 112 km ENE of Hasaki, Japan at 10:29:16 GMT on Tuesday, the US Geological Survey said. The epicenter, with a depth of 10.0 km, was initially determined to be at 36.1797 degrees north latitude and 141.947 degrees east longitude.–Xinhua [embedpost slug=”/4-8-magnitude-earthquake-shakes-swats-mingora-city-adjoining-areas/”]  

Binance has been warned by Lithuania and Hong Kong

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Binance

Binance was warned by the Bank of Lithuania regarding its unlicensed investment services provided in Lithuania. It required the company to ensure that the information publicly available was accurate.

Hong Kong, on the other hand, is concerned about Binance’s stock token offerings.

The Bank of Lithuania noted in its announcement that crypto-asset-related services are neither regulated nor controlled, as a preamble to the warning.

Binance was evaluated as a virtual currency exchange operator and a virtual currency wallet operator based on publicly available information.

However, It warned the firm that some of its investing services are not licensed. Binance, for example, allows clients to participate in crypto-asset-related derivative financial instruments.

These instruments are considered financial instruments under Lithuanian laws, and services must be licensed for them.

The authority stated that it would keep an eye on the country for any unlicensed activity and if such services are discovered, they will be stopped.

[embedpost slug=”bank-of-america-has-jumped-into-the-bitcoin-trend-bol-news”]

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Crypto.com and UFC Signs a $175 Million Sponsorship Deal

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crypto

The crypto company has become UFC’s official fight kit partner.

The major mixed martial arts organization, Ultimate Fighting Championship (UFC), has signed a multi-million dollar sponsorship contract with Crypto.com.

The deal involved a $175 million payment carried out over ten years, according to CNBC.

The Hong Kong-based cryptocurrency firm became the first official fight kit sponsor of the UFC on Wednesday.

Whereas, Crypto.com’s branding will appear on fight kit items used throughout the UFC, including athletes’ attire, as part of the multi-year partnership.

“This is a partnership between two companies that are the best at what they do,” UFC President Dana White said. “No company has done more to grow the popularity of combat sports than UFC, and now we’re one of the biggest sports brands on the planet. We can help Crypto.com reach more people around the world through the strength of our brand.”

With an estimated fan base of over 625 million, UFC fights do indeed get a lot of attention throughout the world.

[embedpost slug=”london-asset-manager-intends-to-invest-55-billion-in-cryptocurrency”]

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Hong Kong broadcaster drops Oscars for the first time in 50 years

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The Hong Kong-based TV station will not be playing the Academy Awards without being followed for the greater part of the century. Television Broadcasts Limited (TVB) has been a grant home in Hong Kong since 1969. Its decision not to broadcast the ceremony this year was “just a matter of business,” the spokesman said. However, … Read more

Phone Fraud: 90-Year-Old Woman Loses Billions Of Rupees

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Phone Fraud: 90-Year-Old Woman Loses Billions Of Rupees

The 90-year-old woman lost $32 million (over 4.9 billion Pakistani rupees) in the biggest phone fraud in Hong Kong’s history. According to local police, the fraudsters targeted an elderly woman living in a mansion in Hong Kong’s most expensive area. Last summer, the suspects presented themselves to the unidentified woman as Chinese public scrutiny officials. … Read more

New Mutant Covid Strain Discovered In UK Reaches Asia

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New Mutant Covid Strain Discovered In UK Reaches Asia

A new mutant strain of the novel Coronavirus discovered in the UK has now reached Asia and has been diagnosed in two students in Hong Kong. According to the local health department, the two students came to Hong Kong from the UK. On their return to Hong Kong in December, the two students were tested … Read more

Sinopharm says data ‘better than expected” for COVID-19 vaccines

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vaccines

HONG KONG/BEIJING: China National Pharmaceutical Group (Sinopharm) said on Wednesday The data from large-scale, late-stage clinical trials for its unit’s COVID-19 vaccine are “better than expected”. Sinopharm’s unit China National Biotec Group (CNBG) has moved two vaccine applicants into Phase 3 clinical trials outside China in multiple countries including the United Arab Emirates (UAE), Bahrain … Read more

US Election 2020: Asian countries rooting for Trump

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US Election 2020: Asian countries

US Election 2020: In south-east Asia, a common enemy in China means that the people are willing to show their support for Donald Trump. Hong Kong: ‘Only Trump can hit the Communist Party’ Hong Kong has seen a severe clampdown by Beijing in the wake of massive pro-democracy and anti-China protests. “When Donald Trump got … Read more

New Sanctions On Hong Kong, China Threatens US To Retaliate

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New Sanctions On Hong Kong, China Threatens US To Retaliate

China says new US sanctions on Hong Kong’s security officials are an attempt to undermine the city’s stability. China has also threatened the United States with indefinite retaliation. According to the foreign news agency AP, Chinese Foreign Ministry spokesman Zhao Lijian said that China, the United States. Hong Kong strongly opposes and strongly condemns the … Read more

Hong Kong tycoon Jimmy Lai arrested under new national security law

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Hong Kong tycoon Jimmy Lai arrested under new national security law

Hong Kong media tycoon Jimmy Lai has been arrested today (Aug 10) under a new a new national security law. According to the details, authorities arrested Lai Chee-Ying, known professionally as Jimmy Lai under a new national security law, detained over suspected collusion with foreign armies as about 200 police searched the offices of his … Read more

Hong Kong hospital can face ‘collapse’ as coronavirus cases increase

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Hong Kong hospital can face 'collapse' as coronavirus cases increase

Hong Kong leader Carrie Lam has warned that the hospital system could suffer “collapse” as it deals with a sharp increase in coronavirus cases. Ms. Lam warned the city was on the “verge of a large-scale community outbreak, which may lead to a collapse of our hospital system and cost lives, especially of the elderly”. … Read more

2 US aircraft carriers returns to South China Sea due to rising tensions

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2 US aircraft carriers returns to South China Sea due to rising tensions

Washington DC has deployed naval forces in the South China Sea for the second time in two weeks following rising tensions between the United States and China. A statement from the US Navy said that relations between the two countries were strained and that it was the second time in two weeks that US aircraft … Read more

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