Texas Senator Ted Cruz pledged deeper American investment in Africa’s energy industry, casting the US as a strategic alternative to China. Praising the African Energy Chamber advocacy group’s role in driving oil, gas and renewable projects, the chairman of the Senate foreign relations subcommittee on Africa urged closer collaboration between policymakers fro the continent and…
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…