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September 22, 2021

Asia Economy

Here’s why the Evergrande crisis is not China’s ‘Lehman moment’

CNBC
CNBC – For more and to sign up click here The Evergrande headquarters is seen in Shenzhen, southeastern China on September 14, 2021, as the Chinese property giant said it is facing “unprecedented difficulties” but denied rumours that it is about to go under. Noel Celis | AFP | Getty......

Evergrande crisis will hurt China’s economic growth, says former central bank advisor

CNBC Real Estate
Evergrande‘s debt crisis will slow down China’s economic growth, but will likely have minimal spillover on the country’s financial system, according to a former advisor to China’s central bank. Evergrande is the world’s most indebted property developer with total liabilities of around $300 billion. The company has been struggling to......

China’s Evergrande crisis could drag down Tether and other cryptocurrencies: CNBC After Hours

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CNBC – For more and to sign up click here CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC’s Kate Rooney explains why Chinese property developer Evergrande Group’s debt crisis could be trouble for Tether. Plus, Johnson & Johnson finds a second shot of......

China could accelerate military efforts in response to U.S.-Australia submarine deal, analyst says

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CNBC – For more and to sign up click here China has denounced a nuclear submarine deal among the U.S., the U.K. and Australia — and tensions in the Indo-Pacific region will likely continue to rise, said an analyst at consultancy firm Eurasia Group. “Given the geography of the region......

The first test for Evergrande’s debt crisis comes this week

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CNBC – For more and to sign up click here Aerial photo taken on Sept. 17, 2021 shows a housing complex by Chinese property developer Evergrande in Huaian, China’s eastern Jiangsu province. Stringer | AFP | Getty Images The first test for Evergrande’s debt crisis comes this week — investors......

FDA-approved Covid vaccine for kids ages 5 to 11 ‘very feasible’ by Halloween, says former FDA commissioner

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CNBC – For more and to sign up click here Former Food and Drug Administration Commissioner Dr. Mark McClellan told CNBC that it seems realistic that younger kids will be getting vaccinated for Covid-19 based on the new data released by Pfizer on Monday. “Those findings are very promising, especially......

Singapore Exchange could receive its first SPAC listing application in weeks, CEO says

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CNBC – For more and to sign up click here Auditorium of the Singapore Exchange (SGX). Roslan Rahman | AFP | Getty Images SINGAPORE — The Singapore Exchange could receive its first application for a SPAC listing in “the next couple of weeks,” Chief Executive Loh Boon Chye told CNBC......

China’s embattled developer Evergrande is on the brink of default. Here’s why it matters

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CNBC – For more and to sign up click here The Emerald Bay residential project developed by China Evergrande in the Tuen Mun district of the New Territories in Hong Kong, China, on Friday, July 23, 2021. Lam Yik | Bloomberg | Getty Images Chinese property giant Evergrande is on......

The iPhone 13 is already showing strong early sales in China, local media reports say

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CNBC – For more and to sign up click here iPhone 13 Source: Apple Inc. More Chinese consumers are rushing to order Apple‘s latest iPhone now than last year, according to a South China Morning Post report published Thursday. More than 2 million pre-orders have been placed for the iPhone......

Covid lockdown in Vietnam could keep coffee prices ‘relatively high’ through 2022

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CNBC – For more and to sign up click here Pots of coffee bean are seen at a coffee shop in Hanoi, Vietnam on August 15, 2012. Vietnam is one of the world’s top coffee producers and exporters. Hoang Dinh Nam | AFP | Getty Images Vietnam’s Covid-19 lockdown has......

There was insider trading on NFT platform OpenSea, the $1.5 billion start-up admits

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CNBC – For more and to sign up click here Rumors of insider trading at NFT marketplace OpenSea are true, according to a statement from the start-up, which was recently valued at $1.5 billion. “Yesterday we learned that one of our employees purchased items that they knew were set to......

China’s retail sales grew 2.5% in August, far slower than 7% expected

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CNBC – For more and to sign up click here People walk outside the Taikoo Li Sanlitun mall in the Sanlitun shopping area on Aug. 31, 2021. Artyom Ivanov | TASS | Getty Images BEIJING — China’s retail sales grew a disappointing 2.5% in August from a year ago as......

South Korea’s antitrust regulator fines Google $177 million for abusing mobile market dominance

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CNBC – For more and to sign up click here David Gray | Bloomberg | Getty Images South Korea’s competition regulator on Tuesday announced it will fine Google 207.4 billion Korean won ($176.9 million) for allegedly using its dominant market position in the mobile operating system space to stifle competition.......

Indebted developer China Evergrande says property sales continue to drop, warns again it could default

CNBC Real Estate
A banner promoting the Emerald Bay residential project outside the China Evergrande Centre in the Wan Chai area of Hong Kong, China, on Friday, July 23, 2021. Lam Yik | Bloomberg | Getty Images Embattled developer China Evergrande on Tuesday said its property sales will likely continue to drop significantly......

Pakistan should worry about consequences of Taliban’s success in Afghanistan, former ambassador says

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CNBC – For more and to sign up click here Afghan nationals arrive at the Pakistan-Afghanistan border crossing point in Chaman on August 19, 2021 to return back to Afghanistan. AFP | Getty Images Pakistan was one of the first countries to welcome the Taliban’s return to power in Afghanistan......

Citi sets up new team to help ’emerging’ Chinese companies expand to Singapore

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CNBC – For more and to sign up click here Citi’s bank branch in the central business district of Singapore on Feb. 12, 2018. Ore Huiying | Bloomberg | Getty Images SINGAPORE — Citi’s commercial banking unit has set up a China desk in Singapore dedicated to helping “emerging” Chinese......

Singapore to roll out Covid vaccine booster shots to some groups, including seniors

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CNBC – For more and to sign up click here A woman walks along a bridge, as the Marina Bay Sands hotel and resort is seen in the background, in Singapore on August 16, 2021. Roslan Rahman | AFP | Getty Images SINGAPORE — Singapore is introducing booster Covid vaccine......

China’s stock trading volume surges above 1 trillion yuan for weeks as other investment options dry up

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CNBC – For more and to sign up click here A Chinese bank clerk counts yuan banknotes at a bank in Huaibei, east Chinas Anhui Province, July 6, 2012. Jie Zhao | Corbis News | Getty Images BEIJING — Chinese investors are turning to the local stock market as once-lucrative......

The latest target of China’s tech regulation blitz: algorithms

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CNBC – For more and to sign up click here Computer code is seen on a screen above a Chinese flag in this July 12, 2017 illustration photo. Thomas White | Reuters BEIJING — Chinese authorities are planning to restrict how companies use algorithms to sell products to consumers, a......

‘Property market on steroids’: Asia-Pacific’s real estate boom sees buyers bidding up prices

CNBC Real Estate
Singapore has hinted that unvaccinated travelers may be subject to longer quarantine periods and additional testing. franckreporter | E+ | Getty Images SINGAPORE — Housing prices have shot up across cities in Asia-Pacific this year, fueled by record low interest rates amid the pandemic. Optimism has also gained steam as......

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