Posts by Yurie Miyazawa
Hong Kong IPO market stages comeback after dismal 2023
INVESTORS in the Hong Kong initial public offering (IPO) of Chinese cosmetics firm Mao Geping Cosmetics received an early Christmas present on Dec 10 when the company made its trading debut – the shares rose as much as 92 per cent before closing the day 77 per cent higher. It was the best first-day performance…
Read MoreOCBC sells stake in Hong Kong Life Insurance for HK$589.3 million
The sale is not expected to have an impact on the group’s net tangle assets or earnings per share OCBC has agreed to sell its entire stake in Hong Kong Life Insurance to a Hong Kong investment holding company for HK$589.3 million (S$103 million). OCBC, through its wholly owned subsidiary OCBC Bank (Hong Kong), has…
Read MoreTokenisation has become Wall Street’s latest favourite crypto buzzword
BITCOIN’S record-breaking rally is rekindling hope that the digital-ledger technology that underpins cryptocurrencies will revolutionise everything from recording the ownership of houses to bonds. Tokenisation, or the process of creating digital representations of real-world assets on a blockchain, has become one of this year’s buzzwords in both conventional and crypto finance circles. The excitement is…
Read MoreChina to cut import tariffs on some recycled copper and aluminium raw materials
CHINA will reduce import tariffs on ethane and certain recycled copper and aluminium raw materials from next year, the government said on Saturday (Dec 28). The Ministry of Finance announced adjustments to various import tariff categories, effective Jan 1, aimed at increasing imports of high-quality products, expanding domestic demand and promoting high-level opening-up, it said. …
Read MoreChicago loses another financial firm as Peak6 moves HQ to Austin
PEAK6 Investments will transfer its global headquarters to Austin from Chicago, making it the latest finance firm to dial back its operations in the Midwestern city. The company, with a portfolio that has ranged from early-stage businesses to professional sports teams, said the move will put its executive team closer to the bulk of its…
Read MoreHackers hijack a wide range of companies’ Chrome extensions: experts
HACKERS have compromised several different companies’ Chrome browser extensions in a series of intrusions dating back to mid-December, according to one of the victims and experts who have examined the campaign. Among the victims was the California-based Cyberhaven, a data protection company that confirmed the breach in a statement to Reuters on Friday (Dec 27). …
Read MoreDrone maker Baykar gets nod to buy Italy’s Piaggio Aerospace
TURKEY’S Baykar Makina Sanayi ve Ticaret Anonim Sirketi got a green light from Italian authorities to buy aviation and defence company Piaggio Aerospace. The Industry Ministry authorised the sale to unmanned aerial vehicles specialist Baykar, according to a statement, which did not include financial terms. Three binding offers were received. Piaggio Aerospace, formerly known as…
Read MoreSingapore’s central bank chief on crypto, AI and battling inflation
AS THE central bank of a leading global financial powerhouse, the Monetary Authority of Singapore’s (MAS) policy decisions can have a wide-ranging impact on the global economy and financial sector. While Singapore is one of the richest countries in the world on a per capita basis, its economy is highly reliant on international trade. The…
Read MoreBig Lots strikes deal to save stores, stop brand from closing
BANKRUPT Big Lots has struck a deal to save hundreds of stores after an earlier sale of the business fell apart, saving the chain from closing down entirely. The company said on Friday (Dec 27) it has agreed to a transaction with Gordon Brothers Retail Partners that will facilitate the transfer of Big Lots’ brand,…
Read MoreBitcoin’s ‘Kimchi Premium’ jumps amid South Korean political turmoil
A KEY metric to gauge the interest in Bitcoin from investors in South Korea has risen this week to a four-month high, as the political turmoil in the East Asian country deepens. “Kimchi Premium”, which refers to the price gap between Bitcoin on South Korean exchange Upbit compared to Coinbase, has surged to the range…
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