Asia pacific markets

- A + A SHANGHAI (June 27): China's yuan edged up against the dollar on Monday (June 27) after Shanghai declared victory against Covid-19 over the weekend, but gains were limited ahead of more convincing signs of a recovery. Shanghai, the country's commercial hub, will gradually resume dining-in at restaurants from June 29 after the city's Communist Party chief declared victory in the battle against the latest wave of Covid-19 shocks that put the city under lockdown for two months. Shanghai lifted a two month citywide lockdown on June 1, but many establishments have remained unable to offer indoor dining since mid-March. Traders said the news lifted market sentiment, but investors remained cautious and looked to data to gauge the pace of the economic recovery before placing huge bets on the currency. June economic indicators, including official factory activity data, are due later this week. Prior to market opening, the People's Bank of China (PBOC) set the … [Read more...] about Yuan edges up as Shanghai declares Covid-19 victory; outlook remains cautious

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A LAST week, CTOS Digital Bhd made a bold move to raise its stake in RAM Holdings Bhd (RAM), in which it already owns a 19.225% stake. This is the third acquisition that CTOS has undertaken within a year. CTOS, which bought into RAM shortly after it was listed in July last year, launched a general offer last week to buy out the remaining shares that it does not own in the credit rating agency (CRA) soon after it got the green light from the Securities Commission Malaysia (SC) to own more than 51%. CTOS has so far spent the bulk of the RM173.8 million raised from a private placement in March on mergers and acquisitions (M&A). RAM will be the first local CRA to have a controlling shareholder upon the completion of the takeover offer. Dollars and cents aside, the takeover bid has prompted some quarters to question whether the independence of RAM’s rating … [Read more...] about Making sense of CTOS’ venture into RAM

Charles Li, CEO of Hong Kong Exchanges and Clearing Limited, speaks at the Sandler O'Neill + Partners Global Exchange and Brokerage Conference in New York - A + A HONG KONG (June 27): In 1997, the world watched as Britain returned Hong Kong to Chinese rule, with some pessimistic or wary about the outlook for the city and its role in the global financial system. Twenty-five years later, Hong Kong has so far retained its status as a financial hub, and some of the city's top executives are banking on a bright future as the territory remains a crucial springboard for investment into mainland China. Charles Li, former chief executive of bourse operator Hong Kong Exchanges and Clearing (HKEX) and founder of microfinance platform Micro Connect, said that although he believes the next 25 years will be "very different", he's optimistic. "I'm convinced that the overall prosperity of Hong Kong will remain as strong as before because Hong Kong retains its value to both … [Read more...] about Hong Kong’s top finance executives bank on city to thrive as gateway to China

Share to Twitter Share to Linkedin This June marks the unveiling of the very first Michelin Guide Dubai and the Dubai selection 2022, with a total of 69 restaurants covering 21 cuisine types; 14 restaurants getting a Bib Gourmand; nine receiving a Michelin Star; and two earning two Michelin Stars. Dubai is the latest addition to the 35 culinary destinations across North America, South America, Asia Pacific and Europe. Home to thousands of restaurants serving a variety of cuisines from fine dining to street food, headed by talented international and homegrown chefs, the Michelin Guide Dubai is providing a fresh perspective and new insights into the diversity, creativity and multicultural nature of Dubai’s culinary offering - one that is drawn from traditional Emirati cuisine, as well as from the cuisines of more than 200 other nationalities living in the city. The Michelin Guide Dubai 2022 at a glance: • 2 restaurants with two Michelin Stars • 9 … [Read more...] about First Michelin Guide Comes To Dubai

This article first appeared in City & Country, The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. The association is looking into the high cost of compliance and construction in Malaysia, as well as the anticipated property price hike due to rising building material prices globally (Photo by Low Yen Yeing /The Edge) - A + A The Malaysian chapter of Fiabci, the International Real Estate Federation, is encouraging local property developers to venture overseas by utilising the networking opportunities offered by the association, says Fiabci Malaysia president Datuk Seri Koe Peng Kang. Koe, who is also vice-president of Fiabci Asia-Pacific, says he wants to cultivate the pioneering spirit among Malaysian developers. “As president of Fiabci Malaysia, I want to bring local developers out of the country … use the networking [opportunities provided by Fiabci] and go somewhere else, such as Africa. Developers don’t have to be worried — the only thing … [Read more...] about Fiabci Malaysia to address property sector issues

- A + A HONG KONG (June 28): Asian shares swung into positive territory in afternoon trade on Tuesday (June 28), propelled by China's decision to ease some quarantine requirements for international arrivals, with Hong Kong stocks particularly supported. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5%, having spent most of the day in the red. The index has fallen 3.8% so far this month. Health authorities said on Tuesday that China will halve to seven days its Covid-19 quarantine period for visitors from overseas, with a further three days spent at home. Following the news, Hong Kong's Hang Seng Index reversed its losses and jumped 0.85% in afternoon trade. In China, the blue-chip CSI 300 Index was 1% higher, also having clawed back earlier losses. The sharp change in mood looked set to last into the global day with the pan-region Euro STOXX 50 futures up 0.31%, German DAX futures 0.2% higher and FTSE futures climbing 0.47%. US stock … [Read more...] about Stocks swing higher as China eases quarantine rules

Share to Twitter Share to Linkedin On the face of it, the average construction site hasn’t changed very much over the past twenty years or so. A casual passer-by who manages to catch a glimpse of what’s going on behind the surrounding fencing will probably see a lot of people going about their labor-intensive tasks, aided and abetted by familiar pieces of equipment, such as excavators, bulldozers and concrete mixers. And that same passer-by might conclude that this is an industry that remains largely untroubled by the disruptions of the innovation economy. Building is building, after all. One brick on top of another. And when analysts put together lists of the sectors that are sucking in VC cash, these days it’s likely to be topped by deep-tech, biotech, fintech and variations on the distributed ledger theme. Construction tech rarely features in the rankings. Which is why I was keen to find out more about Foundamental, a Berlin-based investor that … [Read more...] about Building On It: Why A Berlin-Based VC Is Focused On Construction Tech