Exclusive: Alibaba postpones up to $15 billion Hong Kong listing amid protests - sources
Wednesday, 21 August 2019 China's biggest e-commerce company Alibaba Group Holding Ltd has delayed its up to $15 billion listing in Hong Kong amid growing political unrest in the Asian financial hub, two people with knowledge of the matter told Reuters.
Chinese search engine giant Baidu is considering delisting from the Nasdaq and moving to an exchange closer to home to boost its valuation amid rising tension between the United States and China over investments, three sources said. Fred Katayama reports.
For many who were critical of the Chinese government, Hong Kong was a convenient place to be. But according to CNN, that bolthole is quickly closing, as China says that they can now be arrested there, even if only transferring through the airport. First under British colonial rule and then after its handover to China, Hong Kong has offered legal protection from the mainland Communist Party for decades.
Equity benchmark indices continued their upward momentum on Friday but the gains in IT and realty sectors were capped by PSU banks. At the closing bell, the BSE SandP Sensex was up by 178 points or 0.5 per cent at 36,021 while the Nifty 50 edged higher by 56 points or 0.53 per cent at 10,607. Sectoral indices at the National Stock Exchange were mixed with Nifty IT and realty gaining by 1 per cent each but PSU bank down by 0.9 per cent. Among stocks, Eicher Motors was up by 4.18 per cent at Rs 19,121 per share while Hero MotoCorp accelerated by 2.6 per cent, Bajaj Auto by 1.9 per cent and Tata Motors by 1.8 per cent. Adani Ports closed 4.1 per cent higher at Rs 361 per share. Tata Consultancy Services gained by 1.7 per cent while Bharti Airtel and Bharti Infratel were up by 4 per cent and 1.8 per cent respectively. Reliance Industries edged higher by 1.53 per cent to Rs 1,785.50 per share after Intel Corp said it will invest Rs 1,894 crore in Jio Platforms in exchange for a 0.39 per cent stake, the latest big-ticket investment in its digital unit. But metal stocks fell with JSW Steel and Tata Steel down by 1.7 per cent each and Hindalco by 1 per cent. IndusInd Bank, HDFC Bank, Bajaj Finance and Bajaj Finserv too traded with a negative bias. Meanwhile, Asian shares rallied to a four-month high on robust US payrolls data and a brisk pickup in Chinese service sector activity. Shanghai Composite closed 2.01 per cent higher. Japan's Nikkei rose by 0.72 per cent while Hong Kong's Hang Seng was up by 0.99 per cent.
Hong Kong pro-democracy activists are discussing a plan to create an unofficial parliament-in-exile to keep the flame of freedom alive and send a message to China that freedom cannot be crushed, campaigner Simon Cheng told Reuters on Thursday (July 2). Soraya Ali reports.
Boris Johnson has accused China of breaching a key treaty with Britain by imposing a heavily criticised national security law on Hong Kong.But what is the background to the legislation, why is the UK concerned, and how has the world responded?
Credit: PA - Press Association STUDIO Duration: 01:37Published
Sugar consumption is linked with larger fat deposits around the heart and in the abdomen, which are risky for health, finds a new study. Excess sugar consumption is a worldwide problem. The six countries with the highest sales of sugary drinks per capita are Chile, Mexico, Argentina, Peru, the US, and Saudi Arabia. The demand for sugar is expected to increase in Asia, Africa, and Russia. This observational study examined both sugar-sweetened beverages (such as soft drinks, fruit drinks, energy drinks) and sugar added to foods and beverages for sweetness (for example when cooking or in processed foods). The researchers analysed the association between long-term sugar consumption and fat stores around the heart and other organs. Researchers found that sugar intake over the 20-year period was related to fat volumes later in life. Higher intakes of both sugar-sweetened beverages and added sugar (/topic/sugar) were related to greater fat stores around organs in a stepwise fashion.