Hong Kong Headlines

  • Looming national security laws raise fresh fears for Hong Kong's freedoms

    HONG KONG (Reuters) - Amid calls from Hong Kong's pro-Beijing elite for sweeping new national security laws, government advisers and lawyers say the legislation is likely to be tougher than proposals shelved 14 years ago, raising fears about the city's cherished freedoms.

    in.reuters.com
  • The $3bn subway station – and other urban white elephants

    From Alaska’s ‘bridge to nowhere’ to Pyongyang’s Hotel of Doom, via a €1bn arts centre that leaks, here are the world’s most high-profile wastes of capital How much should one subway station cost? The city of Toronto has an answer. The plan to extend transit in the Toronto suburb of Scarborough winds back at least a decade: at one time the plan was a seven-stop light-rail line; later a three-stop subway. Today, Scarborough is preparing to replace its six-stop automated train with just one...

    the Guardian
  • China reports breaking up gang that moved $3 billion abroad

    Chinese police say they have broken up a gang that smuggled 20 billion yuan ($3 billion) out of the country, evading financial controls imposed by Beijing to stem an outflow of capital from the economy. Seven suspects were detained in the case centered in the southern city Shaoguan near...

    ABC News
  • Asian shares off 10-year peak, China hits three-month low

    TOKYO (Reuters) - Asian shares hovered below their 10-year peak on Friday while mainland Chinese shares dropped to three-month lows after big falls the previous day on concerns about fresh government steps to curb financial risks and an ongoing rout in the Chinese bond market.

    www.reuters.com
  • The Five Biggest Tests For China's Next Central Bank Governor

    Zhou Xiaochuan’s long reign as PBoC Governor is drawing to a close. He signaled his impending retirement last month and will be seventy years old In January 2018. Zhou has headed up China’s central bank from the early days of China’s “growth miracle” in 2002 and successfully – thanks to massive credit creation - steered China’s economy through the 2008 crisis. Since then, he’s kept China’s horrendous credit bubble on the rails, while warning of the risk of a “Minsky moment” at the recent Party...

    @zerohedge
  • Asian shares off 10-year peak, eyes on China markets

    TOKYO (Reuters) - Asian shares hovered below their 10-year peak on Friday while investors viewed Chinese shares with caution after their big fall the previous day.

    www.reuters.com
  • Golf: Chawrasia grabs Hong Kong lead in windy conditions

    HONG Kong (Reuters) - India's SSP Chawrasia mastered windy conditions to grab the first-round lead at the Hong Kong Open with a superb five-under-par 65 in the co-sanctioned event on Thursday.

    in.reuters.com
  • Chawrasia grabs Hong Kong lead in windy conditions

    HONG Kong (Reuters) - India's SSP Chawrasia mastered windy conditions to grab the first-round lead at the Hong Kong Open with a superb five-under-par 65 in the co-sanctioned event on Thursday.

    www.reuters.com
  • Chinese Stocks Plummet: Shanghai Tumbles Most In 17 Months As Bond Rout Spreads

    The euphoria from the year-end melt up in Europe and the US failed to inspire Chinese traders, and overnight China markets suffered sharp losses, with the Shanghai Composite plunging 2.3%, its biggest one day drop since June 2016, over growing fears that the local bond rout is getting out of control. Both the tech-heavy Chinext and the blue chip CSI 300 Index dropped over 3%, as the sharp selloff accelerated in the last hour, as Beijing's "national team" plunge protection buyers failing to make...

    @zerohedge
  • The Two Churchills And The World's "Collective Munchausen Syndrome"

    Authored by Rusty Guinn via Epsilon Theory blog, This is my favorite street art in the world. It adorns a rail bridge that soars above I-45 in Houston. More than 300,000 cars pass by it every day. It has been modified a couple times by other street artists, but every time it goes back. It’s a complicated statement, and I suspect people read it different ways. To most, it means to Be Someone Important. To matter. It’s an external way of reading it: to have an impact. To be engaged. To have your...

    @zerohedge
  • Exclusive: China's SenseTime plans IPO, U.S. R&D centre as early as 2018

    HONG KONG (Reuters) - Chinese artificial intelligence (AI) start-up SenseTime Group, valued at more than $2 billion, is planning an IPO and aims to open a U.S. research and development centre as early as next year, its founder told Reuters.

    in.reuters.com
  • Exclusive: China's SenseTime plans IPO, U.S. R&D center as early as 2018

    HONG KONG (Reuters) - Chinese artificial intelligence (AI) start-up SenseTime Group, valued at more than $2 billion, is planning an IPO and aims to open a U.S. research and development center as early as next year, its founder told Reuters.

    www.reuters.com
  • Monaco Has To Build Into Mediterranean Sea To House Super-Rich

    The principality of Monaco is about the same size as New York’s Central Park and slightly bigger than London’s Regent’s Park. Besides hosting the Monaco Grand Prix it is home to thousands of multi-millionaires, including tennis player Novak Djokovic and F1 driver Lewis Hamilton, who enjoy the fact that Monaco does not levy income tax or capital gains tax. As the Financial Times notes. Monaco’s enduring popularity for tax exiles also rests on its year-round climate, unrivalled security and its...

    @zerohedge
  • Chinese A.I. start-up SenseTime wants to launch IPO and R&D center in the US

    Chinese A.I. start-up SenseTime wants to launch an initial public offering and a R&D center in the U.S. as soon as next year.

    CNBC
  • Exclusive: China's SenseTime plans IPO, aims to open R&D center in U.S.

    HONG KONG (Reuters) - Chinese artificial intelligence start-up SenseTime Group is planning an initial public offering (IPO) and aims to open a research and development (R&D) center in the United States as early as next year, its founder told Reuters in an interview.

    www.reuters.com
  • HK tycoon pledges $128 million to charity as index passes milestone

    HONG KONG (Reuters) - The billionaire chairman of Hong Kong developer Henderson Land said he will donate HK$1 billion ($128 million) to charity after the city's benchmark index surpassed the 30,000-point level, keeping a pledge he made seven years ago.

    in.reuters.com
  • Robots will 'no doubt' replace millions in our industry in a few years, Dilmah CEO says

    Tea-picking robots could soon hurt the livelihoods of millions of low-wage farmers around the world, Dilmah CEO said.

    CNBC
  • Chinese police detain seven in multi-billion underground currency scheme

    SHANGHAI (Reuters) - Police in southern China have detained seven people in connection with an underground banking scheme involving more than 20 billion yuan ($3 billion), the state news agency Xinhua reported.

    www.reuters.com
  • The Cardinal Sin Of International Finance

    Authored by Nick Giambruno via InternationalMan.com, As Doug Casey has correctly noted, the prime directive of any organism - whether it’s an amoeba or a person or a corporation or a government - is to survive. That’s why the US government protects the petrodollar so zealously. It needs the system to survive. Why Everyone Uses the US Dollar… for Now In the 1970s, the US government struck a series of deals with Saudi Arabia, creating the petrodollar system. The US promised to coddle and protect...

    @zerohedge
  • Why Rule of Law is the Most Important Product

    Via The Daily Bell Every once in a while a technology comes along that upsets an entire industry. Digital cameras put Kodak out of business. The giant of the photography industry had the opportunity to adopt the technology early. But their profits depended on selling film more than selling cameras. And this is not a new phenomenon. When the printing press was invented in the 15th century, it revolutionized education for everyday people. The cost to create books plummeted. Knowledge became widely...

    @zerohedge
  • Korean pop-stars and WeChat shopping: behind the scenes at Moncler's new Hong Kong store

    The level of hysteria outside the entrance to Moncler's new flagship store on Hong Kong Canton Road is, I'd imagine, second only to the welcome accorded to Justin Bieber.

    The Telegraph
  • Thailand arrests woman wanted over deadly 2015 bombing at shrine

    BANGKOK (Reuters) - Police in Thailand on Wednesday arrested a woman wanted in connection with a 2015 bombing in Bangkok that killed 20 people, 14 of them foreign tourists.

    in.reuters.com
  • Thailand arrests woman wanted over deadly 2015 bombing at shrine

    BANGKOK (Reuters) - Police in Thailand on Wednesday arrested a woman wanted in connection with a 2015 bombing in Bangkok that killed 20 people, 14 of them foreign tourists.

    www.reuters.com
  • Asian Stocks Smash Records; Dollar Slides As Crude Surges To July 2015 Highs

    Global shares hit another record high on Wednesday, propelled higher by what increasingly more call (ir)rational exuberance, and investors’ unflagging enthusiasm for tech stocks. That said, S&P futures are unchanged the morning before Thanksgiving (at least before the market open ramp), as are European stocks (Stoxx 600 is flat), despite the euphoria in the Asian session which saw the MSCI Asia Pac index hit a new all time high... ... as oil jumped, rising as much as $1.15 to $57.98/bbl,...

    @zerohedge