Hong kong

Nicolas Aguzin - A + A HONG KONG (Oct 27): The chief executive officer (CEO) of the Hong Kong stock exchange has shrugged off worries that regulatory changes in China which roiled markets this year could have a long-term effect on initial public offerings (IPOs) and trading volumes in the Asian financial hub. Crackdowns by mainland authorities on industries from technology to real estate have deterred some investors from stocks traded in, or through, Hong Kong. "In terms of IPOs, the market has been affected by cautious sentiment from investors including concerns around regulatory developments in China," said Nicolas Aguzin, CEO of Hong Kong Exchanges and Clearing Ltd (HKEX). "But at the same time we have seen our pipeline (for main board listings) build to its highest ever level," he said, in comments after the exchange's third-quarter results. "I'm still optimistic about the outlook." The third quarter is typically strong for Hong Kong capital raisings, …

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- A + A HONG KONG (Oct 27): The Hong Kong stock exchange operator posted on Wednesday a drop in its third-quarter profit as higher trading fees amid market volatility were offset by a decline in the company's income from investment. Hong Kong Exchanges and Clearing Ltd's (HKEX) profit for the three months ended September came in at HK$3.25 billion (US$420 million), down from HK$3.35 billion a year ago, it said in a filing to its subsidiary, the Stock Exchange of Hong Kong. Markets were volatile in the quarter as a series of regulatory crackdowns in mainland China pulled down shares in companies from technology firms to property developers. The broad Hang Seng Composite Index lost 15% in the quarter, its worst period since 2015. HKEX's trading fees and trading tariffs, which make up the largest component of its income, rose 9.8% in the third quarter to HK$2.1 billion from a year earlier. However, the exchange operator's net investment income dropped 76% to …

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IPOH: The level of acrylamide found in some biscuits and crackers manufactured in Malaysia are below the benchmark level set by the European Union Commission Regulation, says Tan Sri Dr Noor Hisham Abdullah ( pic ). The Health director-general said the ministry's Food Safety and Quality Division (BKKM) found that there was a low health risk from consuming these biscuits. "It was found that the average level of acrylamide is 246 µg/kg (micrograms per kilogram), which is below the benchmark level set by the European Union Commission Regulation of 350 µg/kg. "The risk evaluation conducted found that the health risk from consuming the biscuits was low," he said in a statement on Wednesday (Oct 27). Dr Noor Hisham was commenting on the news whereby the Hong Kong Consumer Council announced on Monday that some 60 samples of pre-packed biscuits and crackers it tested contained cancer-inducing elements like acrylamide and glycidol. Among the brands mentioned included Hup Seng, …

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- A + A KUALA LUMPUR (Oct 28): Robert Kuok, Malaysia’s richest man, fell off the top 100 list of the Bloomberg Billionaires Index as his wealth evaporated slightly compared to six months ago, while banker Tan Sri Dr Teh Hong Piow dropped to number 380 in the same period despite adding to his wealth. As of Thursday, Kouk was ranked the 104th richest person in the world with a wealth of US$19.2 billion, down from US$21 billion and rank 88 as at April 20 this year. Kuok controls businesses across Malaysia, Singapore and Hong Kong including Wilmar International, the world's largest palm oil refiner. Teh, meanwhile, dropped ten notches to rank 380 from 370 in April despite increasing his wealth to US$7.32 billion from US$7.18 billion previously. He holds a 22.78% stake in Public Bank Bhd through his private investment vehicle — Consolidated Teh Holdings Sdn Bhd. He has another direct stake of 0.64%. Notably, Kuok and Teh are the only Malaysians listed on the index. …

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Health Director General Tan Sri Dr Noor Hisham Abdullah (Photo by Sam Fong/The Edge filepix) - A + A KUALA LUMPUR (Oct 27): Health director general Tan Sri Dr Noor Hisham Abdullah said on Wednesday (Oct 27) that monitoring done by the Ministry of Health's (MOH's) Food Safety and Quality Division since 2015 for biscuits in the Malaysian market shows that the average level of acrylamide which is a form of cancer-causing carcinogen is 246 microgrammes per kilogramme (µg/kg), which is below the European Union (EU) Commission Regulation’s 350 µg/kg benchmark. In a statement, Dr Noor Hisham said the MOH’s Food Safety and Quality Division has also done a risk assessment on carcinogens acrylamide dan glycidol in food and that the assessment showed health risk due to acrylamide dan glycidol is low from biscuit consumption. Citing the International Agency for Research on Cancer,  he said acrylamide and glycidol are carcinogenic substances which can present risks to human …

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- A + A SHANGHAI/BEIJING (Oct 27): Ping An Insurance Group Co of China Ltd, the country's largest insurer by market value, posted a 31.2% fall in third-quarter net profit on Wednesday as its premium income shrank on a weak economy and profit was dented by losses on investment assets. Net profit fell to 23.6 billion yuan (US$3.7 billion) in the three months ending Sept 30, compared with 34.4 billion yuan in the year-earlier period, according to an exchange filing. It marks the company's worst quarterly profit fall since the first quarter of 2020. Ping An's insurance business and investment returns have been hit by weakness in China's economy, which posted its slowest growth in a year in the third quarter as power shortages and property sector worries took a toll. "The foundation for economic recovery requires further consolidation against the backdrop of a complicated international environment, sporadic Covid-19 outbreaks in China, and the impact of natural …

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- A + A KUALA LUMPUR (Oct 27): Kanger International has entered into a heads of agreement (HoA) with a Dubai-based pharmaceutical company to purchase Covid-19 rapid testing kits for distribution within Malaysia. In a filing with Bursa Malaysia, the bamboo flooring manufacturer said the HoA with Sparmak Medical Equipment Trading LLC will take effect once the medical device authorisation is granted to the product by the Malaysian health authorities. Kanger proposes to purchase one million sets of the rapid detection kit that uses the Loop-mediated Isothermal Amplification (LAMP) technology, each of which contains a nasal swab, sterile water and filter tip. The group said the HoA is in line with its plans to grow its healthcare segment, as it capitalises on its partnership with Sparmak to introduce new Covid-19 testing solutions using the LAMP technology in Malaysia. “Given the affordability, speed and accuracy of the LAMP technology, these Covid-19 testing …

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- A + A KUALA LUMPUR (Oct 27): The Association of Southeast Asian Nations (ASEAN) looks forward to the implementation of the ASEAN Investment Facilitation Framework (AIFF) to facilitate the inflow of investment into the region as ASEAN steps up its efforts towards a comprehensive recovery. Among others, the framework is intended to improve accessibility and transparency of investment measures, streamline and speed up administrative procedures and requirements, and create favourable conditions for investment in the region. “This is with a view to enhancing regional economic integration and allowing ASEAN to capture opportunities presented by shifts in global value chains, as well as delivering tangible benefits to stakeholders,” said ASEAN chairman Sultan Hassanal Bolkiah. Sultan Hassanal Bolkiah of Brunei has chaired the 38th and 39th ASEAN summits held on Oct 26 via videoconference. He said ASEAN also welcomed the entry into force of the ASEAN Trade in Services …

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Flame handover ceremony in Athens for the Beijing 2022 Winter Olympics – Panathenaic Stadium, Athens, Greece – October 19, 2021 The flags of China and the Olympics are seen being raised before the ceremony. REUTERS/Alkis Konstantinidis/File Photo BEIJING–With 100 days until the start of the Winter Olympics, Beijing is promising a “simple and safe” 2022 Games – although preparations are anything but simple as China readies to host thousands of athletes and personnel as it battles flare-ups of COVID-19. Beijing will be the first city to stage both the Summer and Winter Games, but the 2022 event is shadowed by the coronavirus pandemic and calls from human rights groups for a boycott over China’s treatment of Tibet, Uyghur Muslims and Hong Kong. The Games will run Feb. 4 to 20, with all participants subject to daily COVID-19 tests and no international spectators . Unlike this year’s Tokyo Summer Games local spectators will be allowed at events in and around the Chinese capital. …

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On Chu's birthday on Monday (Oct 25), Wong posted on Weibo a photo of them kissing each other, captioned: "Happy birthday, dear! Please wait for me to come home." Wong, 57, the guitarist of legendary Hong Kong band Beyond, is currently in Haikou city on China's Hainan Island taking part in reality show Call Me By Fire, which features other male celebrities such as Taiwanese actor Jerry Yan and Chinese actor Vincent Zhao. Meanwhile, Chu is appearing on Zhejiang Television's food variety show Qing Chi Fan De Jie Jie, loosely translated as Sisters Who Invite You To Dinner. The show also featured Hong Kong actresses Ada Choi, Monica Chan and Catherine Hung. Coincidentally, Choi's husband, Chinese actor Max Zhang, is also on Call Me By Fire. Chu made her name after playing heroine Huang Rong in 1994's TVB remake of late writer Louis Cha's martial arts novel The Legend Of The Condor Heroes. She is also known for playing the fairy Zixia in the two-part movie A Chinese …

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