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  • Dec 16, 2024

New World loses more market value as developer strives to contain debt crisis

New World Development (NWD) can't seem to catch a break. Two rounds of top management shake-up to tackle its debt load and the loss of blue-chip stock status are threatening to spiral into a crisis of confidence. The stock slumped 1.2 per cent on Tuesday to HK$5.65, bringing the losses this year to more than 50 per cent while the benchmark Hang Seng Index advanced 17 per cent. The highly indebted developer is said to have sent out a letter to its bank lenders, seeking a waiver on loan conditions

  • Dec 16, 2024

Hong Kong stock exchange to reduce minimum price changes to boost liquidity

Bourse operator Hong Kong Exchanges and Clearing (HKEX) is set to reduce the minimum swing for stock prices by up to 60 per cent, in a move to bolster liquidity and transactions in Asia's third-largest capital market. The reduction of the minimum price change, which determines the tightest bid-ask spread allowed, will encourage smaller trades. It will apply to equities, real estate investment trusts and other applicable securities - excluding debt securities, exchange-traded options and products

  • Dec 16, 2024

Chinese start-up Zhipu AI raises US$412 million in new funding amid crowded market

China's artificial intelligence (AI) start-up Zhipu AI said on Tuesday that it has raised 3 billion yuan (US$412 million) in a new funding round, beefing up the firm's war chest as it braces for stiffer competition in the market. The new financing adds to a funding spree that has seen Zhipu secure four investment rounds so far this year from a long list of marquee backers, from state-backed investment vehicles to Big Tech firms such as Alibaba Group Holding and Tencent Holdings, as well as promi

  • Dec 16, 2024

Germany Cuts Federal Debt Sales 13% to €380 Billion in 2025

(Bloomberg) -- Germany will reduce federal debt sales by 13% next year as the government scales back despite a sputtering economy and pressure to support Ukraine’s defense against Russia. Most Read from BloombergHow California Sees the World, and ItselfHong Kong's Expat Party Hub Reshaped by Chinese InfluxLondon’s Tube Fares Are Set to Rise by 4.6% Next YearWith a change of power pending, the administration intends to sell about €380 billion ($400 billion) in securities, according to a statement

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