China’s oil refiners are grappling with an oversupply of jet fuel, in yet another blow to the bottom line of a sector already dealing with ebbing demand for gasoline and diesel. In the post-pandemic period, as flights returned to the skies, jet fuel was a boon for domestic refiners struggling with a sputtering economic recovery,…
China is guiding local mutual funds and insurers to boost investments into stocks in the government’s latest initiative to shore up its ailing equity market. Mutual funds should raise their holdings of onshore equities by at least 10% annually for the next three years, while large state-owned insurers will need to invest 30% of their…
When two-Michelin-starred French restaurant Ecriture closed abruptly in September 2023, it reflected the struggles of top-end restaurants amid Hong Kong’s slow recovery from the pandemic. Just over one year on, the latest incarnation at Ecriture’s old spot at the top floor of H Queen’s building in Central is Omaroo Grill, the fifth outlet of Wooloomooloo…
Hong Kong billionaire Michael Kadoorie has approached investors to raise at least $50 million (HK$389 million) to fund efforts to boost the city’s image, according to people familiar with the matter. The chairman of CLP Holdings Ltd., the city’s top electricity provider, has in recent months pitched several high-profile business leaders on a project that…
When Nike said on Thursday that John Donahoe was stepping down as chief executive officer, his exit from a rocky tenure offered a brutal reminder to corporate boards: Focus on what a company’s core business is when looking for a new CEO. As Donahoe took over the top spot at Nike’s in early 2020, the…