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October 22, 2021

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Hong Kong finance chief says city’s exposure to Evergrande ‘very minimal’ -SCMP

Reuters
The logo of China Evergrande is seen at outside China Evergrande Centre building in Hong Kong, China September 23, 2021. REUTERS/Tyrone Siu/File Photo Oct 3 (Reuters) – Hong Kong’s exposure to debt-laden developer China Evergrande Group (3333.HK) is “very minimal” at 0.05%, or HK$14 billion ($1.79 billion), of banking assets,......

Malaysia’s help needed to ease global chip shortage, Taiwan says

Reuters
A 12-inch wafer is seen at Taiwan Semiconductor Manufacturing Co. (TSMC) in Hsinchu June 15, 2010. REUTERS/Pichi Chuang TAIPEI, Oct 1 (Reuters) – Malaysia’s help is needed to resolve the global shortage of auto semiconductors, especially when it comes to packaging, a sector affected by the country’s COVID-19 curbs, Taiwan......

Asian stocks extend global slide as inflation fears bite

Reuters
A man wearing a protective mask, amid the COVID-19 outbreak, is reflected on an electronic board displaying stock prices outside a brokerage in Tokyo, Japan, September 21, 2021. REUTERS/Kim Kyung-Hoon Asia-Pac stocks fall 1% after decline on Wall St overnight Concerns about inflation-growth outlook send bonds higher Gold in demand,......

China power crunch slams factories as coal lobby warns woes could stay until winter

Reuters
SHENYANG, China, Sept 30 (Reuters) – Small firms caught in China’s prolonged energy crunch are turning to diesel generators, or simply shutting shop, as coal industry officials voiced fears about stockpiles ahead of winter and manufacturing shrank in the world’s no. 2 economy. Beijing is scrambling to deliver more coal......

Evergrande set to miss second offshore bond coupon payment this month, sources say

Reuters
Some Evergrande bondholders had not received coupon on Wednesday Evergrande was facing Wednesday deadline for $47.5 mln payment Company sold $1.5 billion stake in Shengjing Bank Shares in Evergrande rise as much as 17% HONG KONG, Sept 29 (Reuters) – At least some of China Evergrande’s offshore bondholders had not......

China Evergrande to sell $1.5 bln stake in Shengjing Bank to state firm

Reuters
Shengjing demands repayment of debts due to it Evergrande says sale will help stabilise Shengjing Evergrande faces bond interest payment deadline HONG KONG, Sept 29 (Reuters) – Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group (3333.HK) said on Wednesday it plans to sell a 9.99 billion yuan......

Amplitude valued at $5 bln after shares jump in Nasdaq debut

Reuters
Sept 28 (Reuters) – Shares of Amplitude Inc (AMPL.O) opened nearly 43% above their reference price in their Nasdaq debut on Tuesday, notching up a valuation of about $5 billion for the Benchmark-backed analytics company. San Francisco-based Amplitude, which confidentially filed for a direct listing in July, was valued at......

China asking state-backed firms to pick up Evergrande assets – sources

Reuters
An aerial view shows the construction site of Guangzhou Evergrande Soccer Stadium, a new stadium for Guangzhou FC, developed by China Evergrande Group, in Guangzhou, Guangdong province, China. Picture taken September 26, 2021 with a drone. REUTERS/Thomas Suen HONG KONG, Sept 28 (Reuters) – Beijing is prodding government-owned firms and......

Analysis: Huawei CFO’s admissions won’t help U.S. in its case against the company -legal experts

Reuters
Sept 28 (Reuters) – The admission by Huawei’s chief financial officer that she misled a bank about the company’s business dealings in Iran likely won’t help the United States as it continues to prosecute Huawei for the same charges. While Meng Wanzhou’s admissions last week go to the heart of......

U.S. citizens blocked from leaving China return home after three years

Reuters
Chinese and U.S. flags flutter outside the building of an American company in Beijing, China January 21, 2021. REUTERS/Tingshu Wang/File Photo WASHINGTON, Sept 27 (Reuters) – Two American siblings prevented from leaving China since 2018 returned to the United States over the weekend, according to a U.S. official, their release......

U.S. citizens blocked from leaving China return home after three years

Reuters
Chinese and U.S. flags flutter outside the building of an American company in Beijing, China January 21, 2021. REUTERS/Tingshu Wang/File Photo WASHINGTON, Sept 27 (Reuters) – Two American siblings prevented from leaving China since 2018 returned to the United States over the weekend, according to a U.S. official, their release......

Pandemic pushes Chinese tech giants to roll out more courier robots

Reuters
Alibaba, Meituan, JD.com to operate over 2,000 robots by 2022 Executives said encouraged by falling costs, pandemic Robot deliveries are safer, but less efficient -consumers BEIJING, Sept 28 (Reuters) – More than a thousand robots are set to join the delivery personnel ranks of Chinese behemoths Alibaba (9988.HK), Meituan (3690.HK)......

PBOC promises to protect consumers as China Evergrande teeters

Reuters
The company logo is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Song Housing consumers rights to be safeguarded – PBOC Evergrande shares up, bonds remain at distressed prices EV unit slides after cash warning Wednesday payment deadline looms BEIJING/HONG KONG,......

EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC

Reuters
Sept 27 (Reuters) – Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion. The deal with Gores Guggenheim (GGPI.O) will provide Polestar cash proceeds......

Cryptocurrency exchanges scramble to drop Chinese users after Beijing’s ban

Reuters
SHANGHAI, Sept 27 (Reuters) – Beijing’s new blanket ban on all cryptocurrency trading and mining – the broadest yet by a major economy – has sent crypto exchanges and service providers scrambling to sever business ties with mainland Chinese clients. Shares in a range of Chinese crypto-related firms plunged on......

Oil shares lead charge as crude hits new 3-year highs

Reuters
A man watches an electric board showing Nikkei index outside a brokerage at a business district in Tokyo, Japan, June 21, 2021. REUTERS/Kim Kyung-Hoon Oil climbs on tight supply, strong demand Markets hope Beijing will contain Evergrande fallout U.S. debt ceiling deadline nears, spending bill to get vote Bonds pressured......

Chinese tech execs support ‘common prosperity’, helping SMEs at internet summit

Reuters
Alibaba Group CEO Daniel Zhang (Zhang Yong) speaks at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song/File Photo WUZHEN, China, Sept 26 (Reuters) – Chinese technology executives, facing a crackdown by the authorities, pledged support on Sunday for Beijing’s “common prosperity” drive and......

China steps up funding oversight of Evergrande property projects -Caixin

Reuters
An Evergrande sign is seen at the Evergrande Automotive R&D Institute Headquarters of China Evergrande Group in Shanghai, China September 24, 2021. REUTERS/Aly Song/Files BEIJING, Sept 26 (Reuters) – Several local governments in China have set up special custodian accounts for property projects of its most indebted developer, Evergrande (3333.HK),......

Foster urges All Blacks to complete Rugby Championship grand slam

Reuters
Sept 26 (Reuters) – Coach Ian Foster wants his All Blacks to focus on claiming their own grand slam next weekend when they face South Africa looking for a clean sweep in The Rugby Championship after handing the world champions a narrow loss on Saturday. Jordie Barrett’s late penalty earned......

Prudential eyes $2.41 bln raising in Hong Kong share sale – sources

Reuters
The logo of British life insurer Prudential is seen on their building in London, Britain March 17, 2019. REUTERS/Simon Dawson HONG KONG, Sept 25 (Reuters) – Prudential (PRU.L) is seeking to raise $2.41 billion by pricing its stock at HK$143.8 each in its Hong Kong share sale, according to two......

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