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Mainland China-listed firms are flocking to Hong Kong for new share offerings, driven by attractive valuations, strong liquidity and supportive policies, with Contemporary Amperex Technology’s (CATL) deal poised to be the biggest of the year.Shenzhen-listed CATL, the world’s largest producer of batteries for electric vehicles, is gauging investor interest for its estimated US$5 billion share float this week after receiving approval from the Hong Kong stock exchange’s listing committee on Tuesday. The share sale would be the city’s largest since Kuaishou Technology raised US$6.2 billion from its initial public offering (IPO) in January 2021.CATL is among the 30 A-share companies…

Pakistan has claimed it used Chinese-made J-10C fighter jets against India’s air force in a brief military encounter on Wednesday.Pakistani Prime Minister Shehbaz Sharif and the country’s military said five Indian aircraft had been shot down in the latest armed conflict over Kashmir and other disputed regions along the South Asian neighbours’ border.India has yet to comment on the claim.Ishaq Dar, Pakistan’s foreign minister, separately told parliament that it was J-10C jets that shot down the Indian warplanes, with the five including three Rafale fighter jets.“Our jet fighters … shot down Indian Rafales, three Rafales [that] are French,” said Dar.…

The euro fell in European trade on Wednesday against a basket of major rivals, on track for the first loss in four days against the US dollar on growing concerns about the political situation in Germany after a difficult vote for the new German Chancellor Friedrich Merz.   Later today, the important Federal Reserve’s policy meeting is expected to provide clues on the path ahead for US interest rates.   The Price   The EUR/US price fell 0.35% today to $1.1325, with a session-high at $1.1374.   On Tuesday, the pair rose 0.45%, the third profit in a row as…

Hardly any other country marks the end of World War II with the same fanfare and fervor as Russia, for which the victory over Nazi Germany 80 years ago remains a source of immense pride and a defining moment of history.Victory Day, celebrated on May 9, is Russia’s most important secular holiday, reflecting its wartime sacrifice. But it’s also used by the Kremlin to bolster patriotism and regain the superpower prestige it lost when the Soviet Union collapsed in 1991.President Vladimir Putin, who has ruled Russia for 25 of those 80 years, has turned Victory Day into a key pillar…

PARIS: The world’s wealthiest 10 per cent of individuals are responsible for two thirds of global warming since 1990, researchers said on Wednesday. How the rich consume and invest has substantially increased the risk of deadly heatwaves and drought, they reported in the first study to quantify the impact of concentrated private wealth on extreme climate events. “We link the carbon footprints of the wealthiest individuals directly to real-world climate impacts,” lead author Sarah Schoengart, a scientist at ETH Zurich, said. “It’s a shift from carbon accounting toward climate accountability.” Compared to the global average, for example, the richest 1…

As Japan rides a wave of record-breaking tourist arrivals, foreign visitors are voicing growing frustrations over lengthy immigration queues, overcrowded attractions and a surprising lack of public rubbish bins – issues analysts say could hinder the nation’s goal of welcoming 60 million tourists a year by 2030.A Japan Tourism Agency (JTA) survey found that while more than half of respondents had smooth travel experiences, many noted infrastructure and service issues at airports and tourist spots.The findings come as preliminary data suggest Japan is on track to exceed 40 million overseas arrivals in 2025, up from a historic high of 36.9…

US stock indices rose on Wednesday after a volatile session as investors assess the Federal Reserve’s policy statements and upcoming US-China trade talks.   In a step that wasn’t surprising, the Fed decided to maintain interest  rates unchanged at below 4.5%, due to ongoing economic uncertainty.   The statements asserted the FOMC continues to monitor risks closely, and believes that unemployment and higher inflation risks are on the upside.   The statement hinted that tariffs threaten higher prices and could slow growth, which opens the door to the scenario of inflationary recession.   Most Fed policymakers believe the central bank…

The HKMA maintained the base rate at 4.75 per cent on Thursday after the Fed left its target in a range of 4.25 to 4.5 per cent, following the third Federal Open Market Committee (FOMC) meeting of the year.At a press conference after the announcement, Fed chairman Jerome Powell said there was no need to be in a hurry to change US monetary policy and “the decision was clear” to wait and watch data for any inflationary impact from tariffs.The Fed, which runs its monetary policy independently, has held its interest rate in place for three straight meetings despite pressure…

The HKMA maintained the base rate at 4.75 per cent on Thursday after the Fed left its target in a range of 4.25 to 4.5 per cent, following the third Federal Open Market Committee (FOMC) meeting of the year.At a press conference after the announcement, Fed chairman Jerome Powell said there was no need to be in a hurry to change US monetary policy and “the decision was clear” to wait and watch data for any inflationary impact from tariffs.The Fed, which runs its monetary policy independently, has held its interest rate in place for three straight meetings despite pressure…

Stay informed with free updatesSimply sign up to the Technology sector myFT Digest — delivered directly to your inbox.British chip designer Arm warned that uncertainty around US tariff policies meant it was unable to give guidance for annual revenue, while customers such as Nvidia and Apple face shocks to global supply chains.Reporting its fourth-quarter results on Wednesday, SoftBank-owned Arm issued a conservative sales outlook, forecasting revenue between $1bn and $1.1bn in the current quarter, at the lowest end of Wall Street predictions due to the timing of closing new licensing deals.Its shares dropped as much as 9 per cent to…