Lai Sun Development Co. is seeking to sell its 50% stake in Hong Kong office building CCB Tower, according to people familiar with the matter, as the builder looks to shed assets. Lai Sun has held talks with potential buyers, including China Construction Bank Corp., which owns the other half of the building in Hong…
China announced that it will start handing out childcare subsidies across the nation, in its latest push to boost birthrates after a worrying drop in recent years. The government will spend 3,600 yuan ($502) a year per child under age three, according to the official Xinhua News Agency. The assistance, effective retrospectively from Jan. 1…
A revival in Hong Kong stocks has provided bumper returns for Prusik Investment Management, which placed early bets on once-unloved property and conglomerate shares in the financial hub. Chief Investment Officer Tom Naughton is confident that further gains lie ahead. The money manager’s $787 million flagship fund has more than a third of its money…
Northern Vietnam is bracing for Tropical Cyclone Wipha, which may intensify to typhoon-strength before making landfall on Tuesday after tracking over the nation’s iconic Ha Long Bay. Wipha is currently near the port city of Beihai in China’s Guangxi province, and the US Navy’s Joint Typhoon Warning Center forecasts the storm will gradually strengthen as…
Chinese AI startup Zhipu is considering shifting its planned initial public offering to Hong Kong instead of mainland China, according to people with knowledge of the matter, adding to a dealmaking boom in the city. Zhipu, whose backers include Alibaba Group Holding Ltd. and Tencent Holdings Ltd., is working with financial advisers on a potential…
As the setting sun glinted off the skyscrapers in Hong Kong’s financial district, a huge video screen on top of one of the soaring towers projected a slogan celebrating the fifth anniversary of the city’s national security law. It was a visual reminder of how Beijing has stamped its mark onto the heart of an…
Goldman Sachs Group Inc. claimed top ranking in Hong Kong equity sales for the first time since 2013, riding a wave of billion-dollar deals in the city after three years of lackluster activity. So far this year, Goldman is given credit for $5.6 billion in initial and secondary offerings, beating runner-up UBS Group AG by…
For Tesla Inc., the distance between a disastrous robotaxi launch and a merely disappointing one was just a foot or two. The “safety monitor” who was sat in the front passenger seat of the handful of Tesla robotaxis that began operating in a limited part of Austin on Sunday was the contradictions of Elon Musk’s…
Hong Kong’s residential property market is poised for a recovery after enduring a seven-year downturn, according to Morgan Stanley. Home prices in the city are set to bottom out, driven by an influx of mainland Chinese buyers, improved capital markets and a recent plunge in interest rates, analysts led by Praveen Choudhary said in a…
Hong Kong is on the cusp of a big, beautiful bull run. But it’s in danger of being ruined. The financial center is finally getting back on its feet. The city is leading in global initial public offerings rankings this year. Its stock market is one of the world’s best performing. Meanwhile, rents have returned…