October 19, 2024 8:32 AM EDT | Source: Media OutReach Hong Kong, SAR–(Newsfile Corp. – October 19, 2024) – John Lee, Chief Executive of the Hong Kong Special Administrative Region, announced his annual Policy Address (October 16), with the overarching priority of improving people’s livelihood and promoting a caring community. “Over the past two…
Hong Kong is losing one of its longest-serving markets regulators as Keith Choy prepares to step down, according to people familiar with the matter. Choy, senior director of the Intermediaries Supervision Department, will leave the Securities and Futures Commission after 26 years, the people said, asking not to be identified discussing private information. A notice…
Hong Kong pledged to vet and debut companies in about 100 days in a bid to guarantee a set time frame for initial public offering applicants. For companies fully meeting listing requirements, the stock exchange and regulator will limit the question-and-answers in two rounds to no more than 40 business days, according to a joint…
Warren Buffett sold another slug of Bank of America Corp. stock after the lender repurchased enough of its own shares to nudge his stake back above 10% — a regulatory threshold that requires rapid disclosure. Buffett’s Berkshire Hathaway Inc. reaped about $370 million selling stock this week, according to a filingBloomberg Terminal Thursday detailing his…
Interest rates in the euro zone are now 3.25% after Christine Lagarde’s central bank cut off a quarter-point this afternoon. It sealed a hat-trick of rate cuts from the European Central Bank in 2024 and markets expect further reductions at every other meeting from now until March. Meanwhile the Bank of England’s key rate is…
Chinese stocks slumped into a correction after another much-anticipated policy briefing failed to deliver the kind of pro-growth stimulus that investors had been hoping for. The CSI 300 Index ended the day 1.1% lower, taking its declines from an Oct. 8 high to about 11%. A Bloomberg Intelligence gauge of Chinese developer stocks tumbled more…
Even though Scholz, following the U.S. lead, ultimately turned Germany into Europe’s largest contributor of arms to Ukraine — and second overall after the U.S. — it hasn’t been enough for Ukraine to keep Russia on the defensive. (Germany has committed about €11 billion in military aid to Ukraine so far, compared to €57 billion from the U.S.)…
China’s 200 million-strong army of retail investors was supposed to help the market turn a corner. Instead, it has become a source of weakness. The country’s $9.7 trillion stock market experienced a rapid boom and bust starting late September, when central bank stimulus pushed the benchmark CSI 300 Index 25% higher in five days of…
Hong Kong’s leader is expected to make bolstering the economy a priority in an annual speech this week, using it to lay out an agenda that includes a potential cut to a liquor tax and possible measures to strengthen the city’s status as a finance center. Chief Executive John Lee will deliver his policy address…
China will hand out twice the number of scholarships and step up financial aid to students as part of a series of policy measures announced by the Ministry of Finance on Saturday. The country will double the annual scholarship quota for undergraduate students to 120,000, that of postgraduates to 70,000, and doctoral students to 20,000,…