Author: admin
Charles Li Xiaojia, former CEO of Hong Kong Exchanges and Clearing (HKEX), has suspended the initial public offering (IPO) plan of his investment company Micro Connect International Finance (MCIF), according to a letter sent to shareholders.“This decision stems from our recent recognition that the extended timeline associated with a proposed public listing has begun to outweigh its anticipated benefits, causing delays to MCIF’s deployment schedule and impacting Micro Connect’s broader progress,” Li said in the letter dated December 18, the day the application lapsed.Li, who had spearheaded multiple listing reforms and the connect schemes during his 11-year tenure at the…
Charles Li Xiaojia, former CEO of Hong Kong Exchanges and Clearing (HKEX), has suspended the initial public offering (IPO) plan of his investment company Micro Connect International Finance (MCIF), according to a letter sent to shareholders.“This decision stems from our recent recognition that the extended timeline associated with a proposed public listing has begun to outweigh its anticipated benefits, causing delays to MCIF’s deployment schedule and impacting Micro Connect’s broader progress,” Li said in the letter dated December 18, the day the application lapsed.Li, who had spearheaded multiple listing reforms and the connect schemes during his 11-year tenure at the…
The conventional wisdom had long been that it would be one of the “two Kevins.” At least, that was the prevailing impression in much of Wall Street and Washington when it came to President Donald Trump’s choice for the next chair of the Federal Reserve. Trump had for months hinted that he wanted to appoint Treasury Secretary Scott Bessent to the role, but Bessent continued to turn down the offer. That left Kevin A. Hassett, a longtime Trump loyalist and his economic adviser, and Kevin M. Warsh, a former Federal Reserve governor who came close to landing the…
The conventional wisdom had long been that it would be one of the “two Kevins.” At least, that was the prevailing impression in much of Wall Street and Washington when it came to President Donald Trump’s choice for the next chair of the Federal Reserve. Trump had for months hinted that he wanted to appoint Treasury Secretary Scott Bessent to the role, but Bessent continued to turn down the offer. That left Kevin A. Hassett, a longtime Trump loyalist and his economic adviser, and Kevin M. Warsh, a former Federal Reserve governor who came close to landing the…
China’s exports of permanent magnets to the European Union saw a sharp rebound in November, as Beijing confirmed last week it has begun granting general licences with lengthier terms for overseas shipments of the magnets, which contain valuable rare earth elements and are essential components in numerous hi-tech items.Last month’s total export volume of the magnets to the EU increased 59.5 per cent year on year to 2,568.8 tonnes, according to figures released on Saturday by China’s General Administration of Customs. The corresponding export value went up 60.3 per cent year on year, reaching US$106.85 million.On a month-on-month basis, export…
Global collectors have given auction houses a Christmas present: a projected uptick in full-year revenue that marks a reversal from recent years of decline.The “Big Three” – Sotheby’s, Christie’s and Phillips – have reported a combined projected total revenue of US$14.1 billion for 2025, up roughly 10 per cent from 2024.“The first half was solid and stable. I feel even better at the end of the year, as a great second half gave us an even stronger finish,” Christie’s CEO Bonnie Brennan told the Post on December 15, after the company posted a 6 per cent increase in projected sales…
China’s official military newspaper has accused Japan of distorting the record of its wartime aggression, denouncing the island nation’s lack of “respect for history” and warning that such actions risk repeating past tragedies.In a commentary on Monday, PLA Daily said Japanese right-wing forces were systematically whitewashing the country’s wartime atrocities as the international community was commemorating the 80th anniversary of the end of World War II and the global victory against fascism.“Memorial halls, supposed to be sacred places for remembering history and passing on memories, have been reduced to tools for tampering with history and a fig leaf for covering…
The Japanese yen rose in Asian trading on Monday against a basket of major and minor currencies, recouping part of the sharp losses it suffered on Friday against the US dollar, and beginning to recover from a four-week low, supported by relatively active buying from lower levels and by warnings from Japanese government officials about the possibility of intervention in the foreign exchange market. On Friday, the Bank of Japan raised its benchmark interest rate by a quarter of a percentage point to 0.75%, the highest level in three decades, in a move that was widely expected by markets.…
Malaysia on Monday said senior defence officials from Cambodia and Thailand will meet on Christmas Eve to discuss details of their pledged ceasefire, after Asean’s foreign ministers met in Kuala Lumpur to push for an immediate end to renewed fighting along their shared border.Fighting reignited in the contested frontier region earlier this month, displacing more than 500,000 people and killing dozens on either side, with Phnom Penh and Bangkok accusing each other of instigating violence and targeting civilians.At least 22 people in Thailand and 19 in Cambodia had been killed as of Sunday, according to officials, as tanks, drones and…
A Malaysian court on Monday granted rapper Namewee a full acquittal from his drug use charge after the prosecution presented a negative urine test in court.Namewee’s lawyer, Joshua Tay, confirmed the acquittal with This Week in Asia.Tay told the Kuala Lumpur magistrates’ court that since the pathology report was negative, there was no prospect of recharging his client, whose real name is Wee Meng Chee.“The appropriate order should be a discharge and acquittal,” Tay said.Magistrate S Arunjothy made the ruling after deputy public prosecutor Amritpreet Kaur Randhawa informed the court that the pathology results were negative and the prosecution had…