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…
Shanghai Yuyuan Tourist Mart Group Co., which has operations spanning jewelry stores to cultural sites, is contemplating a second listing in Hong Kong, according to people familiar with the matter. The company, already listed in Shanghai, may seek to raise more than $300 million in an offering, the people said, asking not to be identified…
A bank trying to unload a luxury mansion in Hong Kong formerly owned by a Chinese property tycoon has slashed its price by about 60%, reflecting the tepid demand for high-end real estate. The house at 15 Gough Hill Road is on offer for about HK$700 million ($90 million) to HK$800 million, compared with a…
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…
China’s industrial firms saw their profits drop in November for a fourth straight month, on track for the sharpest annual decline since records began in 2000. Industrial profits at large Chinese companies fell 7.3% last month compared to a year ago, the National Bureau of Statistics said in a statement on Friday. That compares with…
Hi, this is Allen Wan in Shanghai. I was recently in Zhengzhou, a manufacturing hub for iPhones, with a colleague to check on the city’s efforts to end its part of a lingering nationwide housing crisis and threatens to further torpedo the world’s second-biggest economy. Source link
China executed a former official from Inner Mongolia over corruption charges totaling about 3 billion yuan ($412 million), a rare use of the death penalty for graft that comes with President Xi Jinping’s sweeping campaign to cleanse the Communist Party intensifying. Li Jianping, the former party chief of an economic development zone in Hohhot city,…
In 2017, Norway set a goal of eliminating sales of fossil-fuel-powered cars by 2025. At the time it seemed like little more than a feel-good fantasy to soften the image of a government led by Erna Solberg, a conservative advocate of oil production who’d earned the sobriquet “Iron Erna.” But as the deadline approaches, it…
China’s home-price declines eased for a third month in November, suggesting values are beginning to stabilize as policymakers step up efforts to end the property slump. New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.2% from October, the smallest decrease in 17 months, National Bureau of Statistics figures showed Monday. Values of used homes…
Good morning. Tech stocks position for a strong rebound as a key chipmaker predicts a boom in demand. SpaceX wants its own city. And your favorite hot sauce may soon go from wild to mild. Listen to the day’s top stories. The AI spending frenzy looks like it still has a ways to go. Chipmaker…