Business

Get the latest corporate, market and business news and analysis.
  1. For the past seven years, 70-year-old Singaporean Julia Lee has rarely travelled overseas. Her most recent trip was one night away, in neighbouring Malaysia.Since being diagnosed with kidney disease, Lee has spent 10 hours each day hooked up to a 20-kilogram machine, making it difficult to move around.Chronic renal disease results in a loss of kidney function, meaning the patient’s body is unable to clear the blood of waste and excess fluids. Dialysis – the treatment Lee goes through which…
  2. Moody’s Investors Service has downgraded Hong Kong’s rating, citing concerns over the government’s lack of tangible plans to resolve the political and economic issues arising from the more than seven months of protests, dealing another blow to the city’s reputation as a business hub.The rating agency lowered the long-term issuer and senior unsecured ratings of the Hong Kong government by one notch to Aa3 from Aa2, becoming the second agency to lower the city’s credit rating. In September, Fitch…
  3. Hong Kong has been ranked yet again as the world’s least affordable housing market with social unrest failing to make any meaningful dent on home prices for most of 2019. That dubious honour is for the 10th straight year and is unlikely to be toppled in near future.A family in the city would need to save up for 20.8 years to afford a home in the city, according to the annual Demographia International Housing Affordability Study, which ranks 92 major markets across the world based on median…
  4. The euro has been one of the currency market’s favourite punching bags for quite some time but maybe not for much longer. In the past few years, the prospect of Brexit, signs of weakness in the global economy, Germany’s near run-in with recession and the euro-zone’s negative interest rates have all put the single currency on the ropes.This could all change very soon though, and euro bears should be on the alert for a quick turnaround in the currency’s fortunes this year. The euro could be one…
  5. One of the co-founders of Meituan Dianping, Wang Huiwen, is expected to retire this year, as China’s largest on-demand services provider conducts a revamp of its senior management.Wang, who has served as senior vice-president at Meituan since 2010, will step away from his daily duties by December, but will remain as a board member and serve as a consultant, according to a company statement on Monday.“Carrying on our mission of ‘eat better and live better’ over the coming decade would require…
  6. ByteDance, the world’s most valuable start-up, is said to be preparing the release of two new video games this spring, which could intensify its rivalry with internet giant Tencent Holdings.The upcoming titles, which represent ByteDance’s debut in the non-casual games market segment, will target both domestic and overseas players, according to a Bloomberg report on Monday that cited people familiar with the matter.The games pipeline of ByteDance, owner of popular short video app TikTok overseas…
  7. For the third year in a row, mergers and acquisition (M&A) activity globally failed to generate significant shareholder value for listed companies in 2019, according to a new report from Willis Towers Watson and Cass Business School at the City University of London.Public companies that made acquisitions valued at more than US$100 million last year underperformed the MSCI World Index on average by 5 percentage points in 2019, according to the report. Based on share-price performance, companies…
  8. British education institutions are rushing to open campuses in the Greater Bay Area (GBA), betting that the 11 cities around the Pearl River’s delta in southern China will become the growth centre for international schools in their quest for talent and investments.Ten British schools are expected to open in the GBA by 2022, most of them located in Guangzhou and Shenzhen, bringing the total in the expanded metropolis – with a combined population of 70 million people – to 13, according to data…
  9. Internet giant Tencent Holdings plans to broaden the scope of its international investments, eyeing more start-ups and new market segments such as smart retail.Tencent president Martin Lau Chi-ping unveiled the initiative at the company’s investment conference last week in Beijing, where he said “more communications and cooperation with overseas entrepreneurs” will be pursued to expand the Shenzhen-based firm’s global footprint.There are currently more than 800 companies in Tencent’s investment…
  10. Hong Kong stocks posted their biggest daily decline in more than a month on Monday, dragged down by pre-holiday profit taking, while pharmaceutical and technology companies boosted the China markets.The Hang Seng Index declined by 0.9 per cent to close at 28,795.91, recording its biggest daily loss since December 4.“All good news has come out already, and there is not much stimulus that the market can expect in the near future,” said Alan Li, portfolio manager at investment management firm Atta…