A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) Europe and the United States have barred the import of Russian oil to cut off a crucial revenue source for the Kremlin. But the plan to pile pain on President Vladimir Putin, forcing him to reconsider his war in Ukraine, hasn't worked . Russia's government is making just as much money from energy exports as it was before the invasion. Meanwhile, inflation is surging globally, adding to political pressure on heads of state such as US President Joe Biden, British Prime Minister Boris Johnson and French President Emmanuel Macron. That's forcing leaders from top economies who have gathered in Germany for a G7 meeting to consider a new route: slapping price caps on Russian crude . "The goal here is to starve Russia, … [Read more...] about Price cap on Russian oil could shake up the market
Asia stock markets
China stocks approach bull market as investors catch up on gains
- A + A (June 27): Chinese stocks extended gains into a fifth week, bringing them close to a bull market, as investors turned increasingly upbeat amid eased pandemic curbs in Shanghai. Tech shares also rallied in Hong Kong to the highest in nearly four months. The recent rebound in Chinese equities, which started in April while stocks elsewhere were still selling off, is gaining momentum thanks to an improving economic outlook as well as persistent monetary and fiscal stimulus. President Xi Jinping's planned visit to Hong Kong is boosting stocks that would benefit from easing pandemic restrictions such as Macau casinos. The benchmark CSI 300 Index gained 1.1%, adding 4% in three sessions, led by consumer shares, as Shanghai's leader declared victory in defending the financial hub against Covid-19 and will this week allow residents to dine in restaurants in some areas deemed lower risk. Drinks maker Eastroc Beverage Group Co and food supplier Yihai Kerry … [Read more...] about China stocks approach bull market as investors catch up on gains
Hong Kong’s top finance executives bank on city to thrive as gateway to China
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
Making sense of CTOS’ venture into RAM
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
HONOURING MALAYSIA’S BEST PERFORMERS IN ESG EXCELLENCE: The Edge to roll out Malaysia’s first ESG awards
This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A THE momentum to adopt environmental, social and governance (ESG) criteria and sustainability practices in the capital market has picked up significantly in the past few years. By the third quarter of 2021, assets in global sustainable funds hit a record high, according to investment research firm Morningstar. At the same time, more than 70 countries — including the biggest polluters — have set a net-zero target and over 1,200 companies have put in place science-based targets to reach net-zero emissions, according to the United Nations. In Malaysia, at least 44 out of the 54 Sustainable and Responsible Investment (SRI) funds approved by Securities Commission Malaysia were launched in the last two years. As at December 2021, 94% of the top 50 listed companies in Malaysia had ESG strategies and 68% had emissions reduction policies, according to PwC’s research. … [Read more...] about HONOURING MALAYSIA’S BEST PERFORMERS IN ESG EXCELLENCE: The Edge to roll out Malaysia’s first ESG awards
1/OFF Paris: 400% Growth For The Upcycled Fashion Brand Taking Sustainability To Luxury’s Eco-Apathetic
Share to Twitter Share to Linkedin One of the biggest challenges for any purpose-led brand pursuing game-changer status isn’t breeding a fanbase who ‘get it’ but selling a vital new narrative to the hardcore apathetic. For fashion, mired in climate crisis and battling the clock to cultivate a circular economy, retuning fans’ mindsets (America throws away and 2150 pieces of clothing every second and even people with positive eco intentions are loathe to sacrifice what they perceive as an identify-defining hobby ) is now mission imperative. Dutch fashion brand 1/OFF Paris, whose couturiers splice together or respectfully reinterpret iconic vintage garments to create ultra-covetable new pieces (think: a Levi’s denim jacket with Chanel’s quintessential ladies-who-lunch tweed; double layered jeans; or two oversized classic men’s blazers tailored into a freshly feminized silhouette) is doing just that. Selling to an audience including legions of the … [Read more...] about 1/OFF Paris: 400% Growth For The Upcycled Fashion Brand Taking Sustainability To Luxury’s Eco-Apathetic