Hk economy – SMS 461 http://sms461.com/ Fri, 03 Dec 2021 16:07:30 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://sms461.com/wp-content/uploads/2021/08/sms-150x150.png Hk economy – SMS 461 http://sms461.com/ 32 32 Alibaba shares continue to fall as delisting issues increase. Here’s what you need to know. https://sms461.com/2021/12/03/alibaba-shares-continue-to-fall-as-delisting-issues-increase-heres-what-you-need-to-know/ Fri, 03 Dec 2021 16:07:30 +0000 https://sms461.com/2021/12/03/alibaba-shares-continue-to-fall-as-delisting-issues-increase-heres-what-you-need-to-know/ Text size Alibaba’s stock was beaten in 2021. Greg Baker / AFP via Getty Images Ali Baba shares are hammered amid fears the Chinese e-commerce giant may be forced to lose its main listing in New York. Reports suggest Chinese regulators will restrict the ability of companies to list overseas, raising fears that Alibaba and […]]]>

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Weibo announces pricing for its global offering https://sms461.com/2021/12/02/weibo-announces-pricing-for-its-global-offering/ Thu, 02 Dec 2021 12:30:00 +0000 https://sms461.com/2021/12/02/weibo-announces-pricing-for-its-global-offering/ BEIJING, December 2, 2021 / PRNewswire / – Weibo Corporation (“Weibo” or the “Company”) (Nasdaq: WB), a leading social media platform in China, today announced the price of the global offer (the “Global Offer”) of a total of 11,000,000 Class A common shares of the Company. Weibo is offering 5,500,000 Class A common shares of […]]]>

BEIJING, December 2, 2021 / PRNewswire / – Weibo Corporation (“Weibo” or the “Company”) (Nasdaq: WB), a leading social media platform in China, today announced the price of the global offer (the “Global Offer”) of a total of 11,000,000 Class A common shares of the Company. Weibo is offering 5,500,000 Class A common shares of the Company (the “New Shares”) and Sina Corporation (the “Selling Shareholder”) is offering 5,500,000 Class A common shares of the Company, which are to be converted from of the same number B ordinary shares of the Company before the listing of the class A ordinary shares of Weibo on the Hong Kong Stock Exchange as defined below (the “Selling Shares” and together with the New shares, the “Shares of offer ”). The Global Offer includes a Hong Kong public offering (the “Hong Kong Public Offering”) and an international offering (the “International Offering”).

The final offer price of the International Offer and the Hong Kong Public Offer (the “Offer Price”) was set at HK $ 272.80 per Offer Share. Based on the ratio of one Class A common share per US depositary share listed on the Nasdaq (the “ADS”), the offer price translates to approximately US $ 35.01 by ADS on the basis of an exchange rate of 7.7915 HK $ To $ 1.00.

Subject to the approval of the Hong Kong Stock Exchange Limited (the “Hong Kong Stock Exchange”), the Class A common shares of the Company are expected to commence trading on the main board of the Hong Kong Stock Exchange on Wednesday, December 8, 2021 under the stock code “9898”. The Global Offer is expected to close on the same day, subject to customary closing conditions.

In addition, the selling shareholder has granted an over-allotment option to the international underwriters, exercisable from the date our Class A common shares are listed on the Hong Kong Stock Exchange until January 1, 2022, being the 30th day after the last day of filing of the applications under the Hong Kong public offering, to require the selling shareholder to sell up to a total of 1,650,000 Class A common shares of the Company (to be converted from the same number of class A shares B ordinary shares) at the Offer Price.

The gross proceeds that the Company will derive from the Global Offer, before deduction of underwriting fees and offering costs, is expected to be approximately HK $ 1,500.4 million. The Company will not receive any proceeds from the sale of the Class A common shares offered by the selling shareholder.

The Company plans to use the net proceeds of the Global Offering to further develop its user base and engagement, and enhance its content ecosystem, for research and development to enhance its user experience and capabilities. monetization, to selectively pursue strategic alliances, investments and acquisitions, as well as for working capital and general business needs.

Goldman Sachs (Asia) LLC, Credit Suisse (Hong Kong) Limited, CLSA Capital Markets Limited and China International Capital Corporation Hong Kong Securities Limited are the co-sponsors. Goldman Sachs (Asia) LLC, Credit Suisse (Hong Kong) Limited, CLSA Limited and China International Capital Corporation Hong Kong Securities Limited are Joint Representatives, Joint Global Coordinators, Joint Bookkeepers and Joint Leaders for the Global Offering.

The International Offer is being made only by means of a provisional prospectus supplement dated November 26, 2021 and the accompanying prospectus included in an automatic registration statement on Form F-3 filed with the United States Securities and Exchange Commission (the “SEC”) on November 26, 2021, which automatically came into effect upon filing. The registration statement on Form F-3 and the preliminary prospectus supplement are available on the SEC’s website at: http://www.sec.gov. The final prospectus supplement will be filed with the SEC and will be available on the SEC’s website at: http://www.sec.gov. When available, copies of the Final Prospectus Supplement and the accompanying prospectus relating to the Offer may also be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, New York State 10282-2198, Attention: Prospectus Department (1-866-471-2526), ​​or E-Mail: [email protected], Swiss credit (Hong Kong) Limited, Attention: Prospectus Service, or E-mail: [email protected], CLSA Limited, Attention: Wave project team, or E-mail: [email protected] and China International Capital Corporation Hong Kong Securities Limited, Attention: Capital Markets Department, or E-mail: [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer or an invitation to buy any securities, and there will be no offer or sale of any such securities in any state or other jurisdiction in which such an offer , solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or other jurisdiction. This press release does not constitute a prospectus (including as defined by the laws of Hong Kong) and potential investors should read the Company’s prospectus for detailed information about the Company and the proposed offer, before deciding whether or not to invest in the Company. This press release has not been reviewed or approved by the Hong Kong Stock Exchange or the Securities and Futures Commission of Hong Kong.

The price of the Offered Shares of the Company may be stabilized in accordance with the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong). Details of the envisaged stabilization and how it will be regulated under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) were contained in the Company’s prospectus dated November 29, 2021.

About Weibo

Weibo is one of the leading social media for people to create, discover, and distribute content. Weibo combines the means of public expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a stream and attach multimedia and long content. User relationships on Weibo can be asymmetrical; any user can follow any other user and add comments to a news feed while reposting. This simple, asymmetrical, and distributed nature of Weibo allows an original feed to become a live viral conversation feed.

Weibo enables its advertising and marketing clients to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions for businesses of all sizes. The Company generates a substantial majority of its revenue from the sale of advertising and marketing services, including the sale of social media advertising and promotional marketing offers. Designed with a “mobile first” philosophy, Weibo displays content in a simple news feed format and delivers native advertising that conforms to the news feed on our platform. To support the mobile format, we have continuously developed and refined our Social Interest Graph recommendation engine, which enables our clients to market to people and target audiences based on user demographics, social relationships, interests and behaviors, to achieve increased relevance, engagement and marketing. efficiency.

Safe Harbor Declaration

This press release contains forward-looking statements relating, among other things, to Weibo’s expected financial performance and strategic and operational plans (as described, without limitation, in the “Business Outlook” section and in management quotes. in this press release. Weibo may also make forward-looking statements in the Company’s periodic reports to the SEC, in press releases and other written materials, and in oral statements made by its officers, directors or employees to any Third party beliefs and expectations are forward-looking statements. These forward-looking statements may be identified by words such as “will”, “expects”, “anticipates”, “the future”, “l ‘intention,’ “plans,” “,” confidence, “” estimates “and similar statements. Forward-looking statements involve inherent risks and uncertainties. A certain name b of material factors may cause actual results to differ from those contained in any forward-looking statement. Potential risks and uncertainties include, without limitation, Weibo’s limited operating history in certain new businesses; the inability to develop the active user base and level of user engagement; the uncertain regulatory landscape China; fluctuations in the Company’s quarterly operating results; the Company’s dependence on advertising and marketing sales for the majority of its revenues; failure to successfully develop, introduce, foster adoption or monetize new features and products; the inability to compete effectively for advertising and marketing expenses; failure of successful integration of acquired businesses; risks associated with the Company’s investments, including trade-in and write-down of shares; the inability to compete successfully with new entrants and established competitors in the industry; changes in the macroeconomic environment, including the depreciation of the renminbi; and the adverse changes in the economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in Weibo’s annual report on Form 20-F and other documents filed with the SEC and the prospectus registered in Hong Kong. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required by applicable law.

SOURCE Weibo Corporation


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Green Delta Dragon obtains BSEC asset management license https://sms461.com/2021/12/01/green-delta-dragon-obtains-bsec-asset-management-license/ Wed, 01 Dec 2021 10:50:00 +0000 https://sms461.com/2021/12/01/green-delta-dragon-obtains-bsec-asset-management-license/ Green Delta Dragon is an asset management joint venture founded by Green Delta Insurance Company Ltd (GDIC), Dragon Capital Management (HK) Ltd. (Dragon Capital) and Equinox Dhaka Ltd. (Equinox) TBS Report 01 December 2021, 16:50 Last modification: 01 December 2021, 17:02 Green Delta Dragon is an asset management joint venture founded by Green Delta Insurance […]]]>

Green Delta Dragon is an asset management joint venture founded by Green Delta Insurance Company Ltd (GDIC), Dragon Capital Management (HK) Ltd. (Dragon Capital) and Equinox Dhaka Ltd. (Equinox)

TBS Report

01 December 2021, 16:50

Last modification: 01 December 2021, 17:02

Green Delta Dragon is an asset management joint venture founded by Green Delta Insurance Company Ltd, Dragon Capital Management (HK) Ltd. and Equinox Dhaka Ltd.

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Green Delta Dragon is an asset management joint venture founded by Green Delta Insurance Company Ltd, Dragon Capital Management (HK) Ltd. and Equinox Dhaka Ltd.

Green Delta Dragon Asset Management Company Limited (Green Delta Dragon) announces the award of an asset management license from the Bangladesh Securities and Exchange Commission (BSEC) on November 24, 2021, a press release said.

Green Delta Dragon is an asset management joint venture founded by Green Delta Insurance Company Ltd (GDIC), Dragon Capital Management (HK) Ltd. (Dragon Capital) and Equinox Dhaka Ltd. (Equinox).

GDIC is the largest general insurance company in Bangladesh, providing protection over 3 trillion BDT (US $ 35.7 billion) of insured assets, while Dragon Capital Group is the largest and oldest group asset management firm in Vietnam with assets under management (AUM) in the country of over US $ 6 billion, and Equinox, an emerging market investment advisory firm, brings the knowledge of some of the professionals in the finances the most dynamic in Bangladesh.

Globally, Dragon Capital’s product offering to major institutional and sovereign investors includes actively managed public equity and debt funds, including Vietnam Enterprise Investment Ltd. (VEIL) listed on the London Stock Exchange with assets under management exceeding US $ 2.5 billion. Nationally, Dragon Capital is also Vietnam’s largest local asset manager, applying its fundamentals-based investment philosophy to three actively managed public equity and debt funds and managing two exchange-traded funds (ETFs ), one of which is listed as a certificate of deposit on the Stock Exchange of Thailand.

Green Delta Dragon enters Bangladesh as a research-driven asset manager who intends to improve the performance of traditional products and innovate new products and services to both propel investor value and the Bangladesh capital market growth.


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No time to wait – Manila Bulletin https://sms461.com/2021/11/29/no-time-to-wait-manila-bulletin/ Mon, 29 Nov 2021 16:05:00 +0000 https://sms461.com/2021/11/29/no-time-to-wait-manila-bulletin/ MEDIUM RARE Jullie Y. Daza As James Bond says, “No time to die.” We all age evenly with each tick of the clock, at the same rate, at the same rate, but in different ways. Now is not the time to let our guard down. We are losing more than 100 COVID-19 patients per day […]]]>

MEDIUM RARE

Jullie Y. Daza

As James Bond says, “No time to die.” We all age evenly with each tick of the clock, at the same rate, at the same rate, but in different ways. Now is not the time to let our guard down. We are losing more than 100 COVID-19 patients per day and the numbers are not showing a decrease.

When the Delta variant almost stopped us in our tracks a few months ago, how many of us would / could imagine that the next bad news would be the Omicron variant, more easily transmitted with a constellation (!) Of variants – 32 mutations – and that it would hit Africa and Europe just as the First World began to experience another wave of infections?

No, no time to waste, to waste. Keeping Omicron, OMG, should be a national emergency; after all, it’s a “worry” variant, which is a nice way to mute those alarm bells ringing in our heads. Hong Kong is expected to be on the red list of inbound flights with the seven African countries banned from landing here. HK is 90 minutes away, the gateway to Asia and a very popular destination with Filipino expats and tourists. Shouldn’t we be equally or more strict and careful about admitting travelers from Hong Kong? Remember how much it took us a month – and how much it cost us! – to locate the honeymooning couple from Wuhan at the start of the pandemic last year? It’s a race against time.

Hong Kong may be on the list of yellow countries that allow their passengers to enter our borders through compliance with tests, quarantines and other procedures, but given the level and urgency of the concerns expressed by WHO and general public concerns, this is not the time to take anything for granted. Ironically, the holiday fever, the steady decline in new cases, the openness of the economy could mask a laissez-faire attitude our healthcare system cannot afford, not right now, starting with our dogs. of the NTF.

A new year began with the first Sunday of Advent, the first of four candles to be lit to mark the time of hope. We hope because we are afraid of the dark as time fades into the shadows.


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United Overseas Bank: UOB and HSBC act as green loan coordinators on HK $ 1.85 billion club loan facilities for consortium led by Gaw Capital https://sms461.com/2021/11/26/united-overseas-bank-uob-and-hsbc-act-as-green-loan-coordinators-on-hk-1-85-billion-club-loan-facilities-for-consortium-led-by-gaw-capital/ Fri, 26 Nov 2021 11:10:19 +0000 https://sms461.com/2021/11/26/united-overseas-bank-uob-and-hsbc-act-as-green-loan-coordinators-on-hk-1-85-billion-club-loan-facilities-for-consortium-led-by-gaw-capital/ UOB and HSBC acted as green loan coordinators on HK $ 1.85 billion club loan facilities to a consortium led by Gaw Capital Partners (“the Consortium”). These facilities include an offshore loan of US $ 110 million (HK $ 853 million) and an onshore loan of RMB 837 million (HK $ 992 million). Maybank, BNP […]]]>

UOB and HSBC acted as green loan coordinators on HK $ 1.85 billion club loan facilities to a consortium led by Gaw Capital Partners (“the Consortium”). These facilities include an offshore loan of US $ 110 million (HK $ 853 million) and an onshore loan of RMB 837 million (HK $ 992 million). Maybank, BNP Paribas and KGI also participated in the club deal.

The loan proceeds will be used to refinance existing loans for the Consortium’s acquisition of four high-end office buildings1 in Shanghai MixC, an eight-story quadruple building complex in the Minhang district of Shanghai, China. The buildings have received the LEED v4 Building Operations and Maintenance certification: Existing Buildings Gold2 of the US Green Building Council for their ecological characteristics. Features include LED lights for the office lobby, control measures in elevators to save energy, environmentally friendly architectural paints sourced from the local market to reduce transportation emissions, as well as a classification of waste for better waste management.

The loan facilities support the Consortium’s continued efforts in implementing its sustainable development strategy to improve environmental performance and contribute to the United Nations Sustainable Development Goals.

Ms Christina Gaw, Senior Director and Global Head of Capital Markets at Gaw Capital Partners, said: “At Gaw Capital, ESG considerations are essential to our investment selection criteria and to our asset management. We seek opportunities to improve the value of the assets we acquire through ESG measures and aim to reduce the carbon footprint of the assets. energy efficient buildings are a long-term necessity and we firmly believe that environmentally friendly real estate will lead to better performance and better well-being for the users of a property. ”

Ms. Christine Ip, CEO – Greater China, UOB, said, “Green and energy efficient features will increasingly become the norm for upscale office buildings as we move to a low carbon economy. We are delighted to be walking alongside our longtime partner Gaw Capital Partners on their journey of UOB’s commitment to forging a sustainable future with our clients by supporting their sustainable business models as they move forward. responsible manner. ”

Mr. Frank Fang, Head of Commercial Banking, Hong Kong, HSBC, said: “As a leading bank in the sustainable finance market, HSBC strives to help companies achieve their ESG agenda and contribute to a net zero economy. With sustainability being key to the development of the real estate industry, it is our pleasure to work with Gaw Capital Partners to help shape the future of green buildings together. ”

1Four high-end office buildings, namely towers A, B, C and D in Shanghai MixC.

2 https://www.usgbc.org/guide/om


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Indonesian courier startup J&T raises $ 2.5 billion ahead of Hong Kong IPO https://sms461.com/2021/11/24/indonesian-courier-startup-jt-raises-2-5-billion-ahead-of-hong-kong-ipo/ Wed, 24 Nov 2021 19:11:00 +0000 https://sms461.com/2021/11/24/indonesian-courier-startup-jt-raises-2-5-billion-ahead-of-hong-kong-ipo/ HONG KONG, Nov.24 (Reuters) – Indonesian courier start-up J&T Express raised $ 2.5 billion in a fundraising round valued at $ 20 billion, ahead of its intention to list in Hong Kong as early as the first quarter of next year, three people familiar with the matter told Reuters. Major backers of J&T – Boyu […]]]>

HONG KONG, Nov.24 (Reuters) – Indonesian courier start-up J&T Express raised $ 2.5 billion in a fundraising round valued at $ 20 billion, ahead of its intention to list in Hong Kong as early as the first quarter of next year, three people familiar with the matter told Reuters.

Major backers of J&T – Boyu Capital, Hillhouse Capital Group and Sequoia Capital China – and Chinese gaming and internet giant Tencent Holdings (0700.HK) were among the investors in the latest fundraiser, two people said. .

The funding round also attracted new investors, including SIG China, the Chinese investment arm of brokerage and brokerage firm Susquehanna International Group, said one.

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J & T’s fundraising comes as it seeks to expand into China and Latin America, in addition to being listed in Hong Kong.

J&T, Boyu, Hillhouse and SIG China did not respond to a request for comment from Reuters. Sequoia China and Tencent declined to comment.

The people declined to be named because the information is confidential.

J&T aims to raise $ 1 billion through the Hong Kong float, one of the people said. She has mandated Bank of America (BAC.N), China International Capital Corp and Morgan Stanley (MS.N) for the planned IPO, the sources said.

The banks declined to comment.

J&T was launched in 2015 by two senior executives from Chinese smartphone maker Oppo. Donors have used their distribution experience to build a massive logistics network across Southeast Asia targeting the booming e-commerce.

The company entered China in 2020 and competes with companies such as SF Holding (002352.SZ), ZTO Express (2057.HK) and the internal logistics networks of e-commerce giants Alibaba Group (9988.HK) and JD. com (9618.HK) in this market.

It will be able to strengthen its presence in the world’s second-largest economy once it completes the $ 1.1 billion acquisition of the express delivery business of local company BEST Inc (BEST.N), announced at the end of October. Read more

The company is also considering expansion in Latin America and is in talks to work with Southeast Asian e-commerce company Shopee, one of its main customers, two additional sources said.

J&T and Shopee did not immediately respond to requests for comment.

J&T raised $ 1.8 billion in April, led by Boyu and joined by Sequoia and Hillhouse, for a post-currency valuation of $ 7.8 billion, Reuters previously reported. Read more

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Reporting by Kane Wu and Scott Murdoch in Hong Kong, and Fanny Potkin in Singapore; Editing by Sumeet Chatterjee, Louise Heavens and Ana Nicolaci da Costa

Our Standards: Thomson Reuters Trust Principles.


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Fantasy cricket tips, 11 of the day and field report for ICC Women’s T20 World Cup qualifiers Asia Match 4 https://sms461.com/2021/11/23/fantasy-cricket-tips-11-of-the-day-and-field-report-for-icc-womens-t20-world-cup-qualifiers-asia-match-4/ Tue, 23 Nov 2021 02:46:13 +0000 https://sms461.com/2021/11/23/fantasy-cricket-tips-11-of-the-day-and-field-report-for-icc-womens-t20-world-cup-qualifiers-asia-match-4/ The UAE women face the Hong Kong women in the fourth qualifying match for the ICC T20 Women’s World Cup in Asia at the ICC Academy in Dubai on Tuesday. The UAE women will be delighted with their performance in the first match where they convincingly beat the Malaysian women by 30 points. They are […]]]>

The UAE women face the Hong Kong women in the fourth qualifying match for the ICC T20 Women’s World Cup in Asia at the ICC Academy in Dubai on Tuesday.

The UAE women will be delighted with their performance in the first match where they convincingly beat the Malaysian women by 30 points. They are currently placed in second place in the points table. The Hong Kong Women, on the other hand, also won their opener against Nepal Women by six wickets and currently lead the points table.


UAE-W vs HK-W Probable to play 11 today

UAE-W XI

Chaya Mughal (C), Chamani Seneviratna, Judit Peter (WK), Esha Rohit, Kavisha Egodage, Khushi Sharma, Mahika Gaur, Natasha Cherriath, Priyanjali Jain, Subha Venkataraman, Theertha Satish.

HK-W XI

Kary Chan (C), Yasmin Daswani, Hiu Ying Cheung (WK), Shanzeen Shahzad, Mariko Hill, Ruchitha Venkatesh, Emma Lai, Betty Chan, Natasha Miles, Iqra Sahar, Maryam Bibi.


Match details

UAE-W vs. HK-W, Match 4

Date and time: November 23, 2021, 11:00 am IST

Place: ICC Academy, Dubai.


Pitch report

The ICC Academy field was much more favorable to bowlers compared to batters. The hitters struggled to play big shots on this track. Teams that win the toss should look to strike first and make a big total on the board. The average score of the first rounds in the last two games played on this site is 123 points.


Top picks in today’s UAE-W vs HK-W Dream11 game

Wicket keeper

Priyanjali Jain: Jain didn’t get a chance to bat in the last game. But she’s a quality hitter who can score some crucial points on Tuesday.

Drummers

Theertha Satish: Satish scored 46 points at a 95.83 strike rate in the last game against Malaysia Women. She was also her team’s top scorer in this game.

Natasha Miles: Miles is a hard-hitting hitter who can score quick runs for her team in this upcoming game. She scored 16 points at a strike rate of 123.07 in the last game against Nepal Women.

All Terrain

Mariko Hill: Hill impressed everyone with her explosive hitter in the last game against Nepal Women, where she scored an unbeaten 42 with a strike rate of nearly 110.52.

Esha Rohit: Rohit scored 33 points with a strike rate of 110.00 in the last game against Malaysia Women. She can provide you with valuable points with the bat and ball on Tuesday.

Bowlers

Kary Chan: Chan will lead the Hong Kong women’s bowling attack on Tuesday. She scalped a wicket at a saving rate of 4.00 in the last game against Nepal Women.

Subha Venkataraman: Venkataraman landed a wicket while dropping just 19 points in her four-overs quota in the last game against Malaysia Women. It is a real wicket drill that can pick up wickets at regular intervals for its side.


Top 5 best players to choose from in the UAE-W vs HK-W Dream11 prediction squad

Mariko Hill (HK-W) – 74 points

Theertha Satish (UAE-W) – 57 points

Kary Chan (HK-W) – 54 points

Betty Chan (HK-W) – 47 points

Esha Rohit (UAE-W) – 44 points


Important stats for the UAE-W vs HK-W Dream11 prediction team

Mariko Hill: 42 races in 1 match; RS – 110.52

Theertha Satish: 46 runs in 1 match; RS – 95.83

Kary Chan: 17 tracks and 1 wicket in 1 match; SR – 77.27 and ER – 4.00

Betty Chan: 1 wicket in 1 match; SE – 3.00

Esha Rohit: 33 runs in 1 match; RS – 110.00


UAE-W vs HK-W Dream11 prediction today

UAE-W vs HK-W Dream11 Prediction
UAE-W vs HK-W Dream11 Prediction

Fancy suggestion # 1: Priyanjali Jain, Natasha Miles, Chamani Seneviratna, Kavisha Egodage, Theertha Satish, Esha Rohit, Chaya Mughal, Mariko Hill, Kary Chan, Subha Venkataraman, Iqra Sahar.

Captain: Mariko Hill. Vice captain: Kavisha Egodage.

UAE-W vs HK-W Dream11 Prediction
UAE-W vs HK-W Dream11 Prediction

Fancy suggestion # 2: Priyanjali Jain, Natasha Miles, Chamani Seneviratna, Kavisha Egodage, Esha Rohit, Chaya Mughal, Mariko Hill, Betty Chan, Kary Chan, Subha Venkataraman, Iqra Sahar.

Captain: Kavisha Egodage. Vice captain: Mariko Hill.




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Hong Kong regulators review Rusal demerger plan https://sms461.com/2021/11/21/hong-kong-regulators-review-rusal-demerger-plan/ Sun, 21 Nov 2021 09:25:39 +0000 https://sms461.com/2021/11/21/hong-kong-regulators-review-rusal-demerger-plan/ Stock market regulators in Hong Kong are examining plans by Russian aluminum producer Rusal to split its high-carbon smelters and refineries into a separate company to be listed in Moscow. The decision to review the proposed split was triggered by a complaint from Odey Asset Management, according to emails viewed by the Financial Times. The […]]]>

Stock market regulators in Hong Kong are examining plans by Russian aluminum producer Rusal to split its high-carbon smelters and refineries into a separate company to be listed in Moscow.

The decision to review the proposed split was triggered by a complaint from Odey Asset Management, according to emails viewed by the Financial Times.

The London-based hedge fund believes a recent deal between Rusal’s two biggest shareholders means they shouldn’t be allowed to vote.

If they were prevented from voting on the deal, it would give minority shareholders enormous clout. Hong Kong-listed Rusal has a free float of just over 10 percent according to some analysts and the split requires the support of 75 percent of shareholders attending a special meeting.

Hong Kong Exchanges and Clearing declined to comment.

Rusal announced the split plan in May in a move that would allow it to focus on the rapidly growing “green aluminum” market.

The company is 57 percent owned by EN +, the metal hydropower group controlled by Russian oligarch Oleg Deripaska. Its second shareholder with 25.5% is Sual Partners, a vehicle in which billionaires Leonard Blavatnik and Viktor Vekselberg are investors.

For much of the year, Sual has been at loggerheads with Rusal and EN +, calling for the appointment of a new board of directors and the resumption of dividends. He opposed the split and voted against the plan to rename Rusal AL + at its annual meeting.

However, Sual dropped his opposition to the spin-off this month after “further discussions with EN +”. The “alignment”, as EN + called it, has sounded the alarm at Odey, who fears that an attempt to buy out minority shareholders once the split is completed may be attempted, according to people familiar with the matter.

Rusal is worth $ 15.6 billion, just $ 3 billion more than the value of its 25.5% stake in Russian metal miner Norilsk Nickel. At current prices, its value including net debt, adjusted for its stake in Norilsk Nickel, is about 3.5 times expected earnings before interest, taxes, depreciation and amortization, according to JPMorgan.

Odey’s Natural Resources Fund, run by Henry Steel, told Rusal and his advisers it would vote in favor of the deal, but only if Rusal sets out a sustainable return on capital policy, the people said – a move that , according to him, would contribute to a re-rating of its actions.

Aluminum prices have risen by more than 30% this year following production cuts in China, boosting profits and cash flow for Rusal, which holds 6% of the global market. However, the company again decided not to pay a dividend, focusing instead on reducing debt.

Odey does not own any shares in Rusal but does hold derivative products which give it the possibility of acquiring a stake. Steel used derivatives to demand higher bids in the Acacia Mining and Sirius Minerals buyouts. Its fund is up 20% since its launch in 2019 and 30% this year.

Rusal said he was not aware of any investigation by HKEX and had yet to release any information regarding how to vote for the split.

“The case for the split is clear and will create value for all shareholders,” the company said in a statement. “The two companies will have a different trajectory and strategy to decarbonize their operations, but they will share the same 2050 goal: net zero. “

EN + declined to comment. Sual did not respond to a request for comment.

Steel said he discussed his concerns with Rusal and the president of EN +.

“We are grateful for the continued engagement with all stakeholders, in particular with the boards of EN + and Rusal, to ensure that potential or perceived conflicts with minority shareholders are addressed,” he said. he declares.

Rusal’s spin-off project comes after the EU launched a carbon border adjustment mechanism that will force importers of steel, cement, aluminum and fertilizer to pay the same carbon costs as European industry is faced with this. The prospect of the tax alarmed Russian businesses, who said they would be hit the hardest.


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Asian markets on the rise but Alibaba’s fall hurts Hong Kong https://sms461.com/2021/11/19/asian-markets-on-the-rise-but-alibabas-fall-hurts-hong-kong/ Fri, 19 Nov 2021 14:19:23 +0000 https://sms461.com/2021/11/19/asian-markets-on-the-rise-but-alibabas-fall-hurts-hong-kong/ HONG KONG, China: Hong Kong fell on Friday on an otherwise positive day for Asian markets, with Chinese e-commerce titan Alibaba falling more than 10% after warning from a weaker outlook. Alibaba said Thursday that its net profit fell 81% in the second quarter and that its revenue grew less than expected, hit by the […]]]>

HONG KONG, China: Hong Kong fell on Friday on an otherwise positive day for Asian markets, with Chinese e-commerce titan Alibaba falling more than 10% after warning from a weaker outlook.

Alibaba said Thursday that its net profit fell 81% in the second quarter and that its revenue grew less than expected, hit by the impact of slowing economic growth and a government crackdown on the tech sector.

The company, once the star child of high-flying Chinese private companies, also said revenue growth for the remainder of the year was below expectations, adding that certain factors could further impact results. , including “changes in laws, regulations and (the) regulatory environment”, such as those related to privacy and data.

The steep loss in Hong Kong reflected a fall of more than 11% in its shares in New York and comes after a painful year that saw the company in the crosshairs of Beijing’s regulatory desire to curb companies it deemed. more and more powerful.

With Alibaba being a major player in Hong Kong’s Hang Seng Index, the market plunged 1.7% and other tech companies including Tencent, NetEase and XD also fell.

However, losses were limited elsewhere in Asia, with only Wellington and Manila falling.

Tokyo climbed as the government announced plans to inject nearly $ 500 billion into the Japanese economy to kickstart recovery from a pandemic.

Gains were also recorded in Shanghai, Singapore, Sydney, Seoul, Taipei and Jakarta.

Traders had received a positive lead from Wall Street, where all three major indexes finished just below record highs, although the focus remains on soaring inflation and rising expectations that central banks will tighten policy. monetary earlier.

Data this month showed prices were rising to levels not seen in three decades in the United States, 18 years in Canada and 10 years in the United Kingdom due to soaring energy costs and global supply chain growls.

The chief financial officers of some countries, including South Korea and New Zealand, have already raised interest rates, and the Bank of England is expected to follow suit before the end of the year.

But all eyes are on the Federal Reserve, which has already announced plans to end its massive bond buying program, but now faces increasing pressure to raise borrowing costs as early as mid-2022. .

“Short-term concerns are that banks are reversing estimates of when the Fed will start raising overnight interest rates in 2022, Fed comments on broader inflation trends, the possibility of a change of Fed chairman by the Biden administration and fears of a seasonal peak in Covid cases, ”said market analyst Louis Navellier.

“Lira remains a punching bag”

Oil extended Thursday’s lead after a recent sell-off, with little reaction to news that China will release some of its reserves following a call from US President Joe Biden to Xi Jinping to help mitigate a surging prices which is partly responsible for spikes inflation.

“The oil market deficit will always remain despite the use of reserves and the next big price movement will most likely depend on the weather,” said Edward Moya of Oanda.

“Natural gas prices may be the main driver in the near term as Russia plays hard with Europe. Any shortage of natural gas will lead to additional demand for crude as the rush to alternative energy sources intensifies . “

Meanwhile, the Turkish lira held near a record low against the dollar after Thursday’s collapse in response to the central bank’s decision to cut interest rates for the third month in a row following the pressure from President Recep Tayyip Erdoğan.

The move came despite inflation hovering around 20% – four times the government’s target – while the pound has lost a third of its value this year.

And Moya warned, “Reading it is still a punching bag and a new weakness has no end in sight.”

Key figures around 03:00 GMT

Tokyo – Nikkei 225: UP 0.4% to 29,718.62 (pause)

Hong Kong – Hang Seng Index: DOWN 1.7% to 24,884.10

Shanghai – Composite: EN up 0.1% to 3,525.06

Dollar / yen: UP at 114.40 yen vs. 114.24 yen at 2145 GMT

Pound / dollar: DOWN to $ 1.3486 from $ 1.3501

Euro / dollar: DOWN to $ 1.1354 from $ 1.1374

Euro / pound: up to 84.20 pence against 84.22 pence

West Texas Intermediate: EN up 0.4% to $ 79.30 per barrel

North Sea crude: up 0.8% to $ 81.90 per barrel

New York – Dow: DOWN 0.2% to 35,870.95 (close)

Paris – CAC 40: DOWN 0.2% to 7,141.98 (closing) AFP


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JP Morgan boss skips quarantine on his way to Hong Kong | Jamie Dimon https://sms461.com/2021/11/16/jp-morgan-boss-skips-quarantine-on-his-way-to-hong-kong-jamie-dimon/ Tue, 16 Nov 2021 13:31:00 +0000 https://sms461.com/2021/11/16/jp-morgan-boss-skips-quarantine-on-his-way-to-hong-kong-jamie-dimon/ JP Morgan billionaire CEO Jamie Dimon has been allowed to ignore strict Hong Kong hotel quarantine rules because he runs “a very big bank” with “key business in Hong Kong,” the bank said on Tuesday. Director General of the Territory, Carrie Lam. Dimon flew to Hong Kong on Monday aboard JP Morgan’s private jet, becoming […]]]>

JP Morgan billionaire CEO Jamie Dimon has been allowed to ignore strict Hong Kong hotel quarantine rules because he runs “a very big bank” with “key business in Hong Kong,” the bank said on Tuesday. Director General of the Territory, Carrie Lam.

Dimon flew to Hong Kong on Monday aboard JP Morgan’s private jet, becoming the first Wall Street bank boss to visit the territory or mainland China since the start of the pandemic.

Asked why Dimon was allowed to enter the territory without complying with the coronavirus rules, Lam said: “The rationale has to do with the economy, because it is a very large bank with key activities in Hong Kong. He was supposed to come to work in Hong Kong for about a day. But there are restrictions, including restrictions on its route, so the risk is quite manageable. “

Hong Kong is pursuing a Covid Zero strategy alongside China and has imposed some of the world’s toughest travel rules to keep the virus out. The measures include mandatory three-week hotel quarantines for any resident returning from the UK or the US, regardless of vaccination status, followed by seven days of self-monitoring. Tourists and most non-resident visitors are prohibited from boarding flights to the city.

During his visit, Dimon told Bloomberg that the strict quarantine policy “makes it harder” to attract and retain talent in the territory. The local US Chamber of Commerce said in May that 40% of its members were considering leaving the territory due to the restrictions.

JP Morgan said Dimon would only spend 32 hours in Hong Kong, and the visit was to thank staff for their hard work during the pandemic and to hold meetings with regulators.

In August, the government also granted an exemption to Hollywood actress Nicole Kidman, who had traveled to the territory to film a television series, prompting a brief outcry from frustrated residents who were forced to pay for stays in the city. expensive hotel.

They complained on HK Quarantine Support Group Facebook that the city gives the rich and powerful better treatment than long-term residents. “The privileged can get to Hong Kong in no time without [any] consequences … the rest of us [are] forced to three weeks of solitary confinement with [poor] food and no fresh air, ”one user said.


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