Signage for New Oriental Education & Technology Group. Photographer: Nelson Ching/Bloomberg 2012 Bloomberg Finance L.P. Shares in Chinese education companies that tutor students on school curriculum plunged today on reports that the government may ask them to convert to non-profits, highlighting anew risks facing investors in the country’s stocks. Rules being mulled would likely no… More
A Crown Resorts logo at the entrance to the Crown Melbourne casino and entertainment complex in … [+] Melbourne, Australia, on Wednesday, March 24, 2021. Carla Gottgens/Bloomberg Star Entertainment Group said Friday it pulled its proposed merger with Crown Resorts—controlled by billionaire James Packer—amid allegations of tax evasion and lax money laundering controls at Crown’s… More
Sunseap’s offshore floating photovoltaic (OFPV) system in Singapore. Courtesy of Suneap AC Energy—controlled by Philippine billionaire Jaime Zobel de Ayala’s Ayala Corp.—and Singapore-based Sunseap Group are investing over $2.4 billion in separate renewable energy projects across Southeast Asia as countries around the region accelerate their transition into a carbon-free future. Sunseap—backed by Thai billionaire Isara… More
Hui Ka Yan speaks during a news conference on the sidelines of the fourth session of the 12th National People’s Congress on March 6, 2016 in Beijing, China. Etienne Oliveau/Getty Images Chinese real estate tycoon Hui Ka Yan is rapidly slipping down the wealth rankings. He net worth dropped another $3.35 billion this week, as… More
Gautam Adani delivers a public address on February 21, 2018 in Lucknow, India. Subhankar Chakraborty/Hindustan Times via Getty Images Billionaire Gautam Adani’s Adani Airport Holdings Ltd. (AAHL) took control this week of Mumbai’s Chhatrapati Shivaji Maharaj International Airport, the second busiest airport in the country, after completing all formalities and obtaining necessary approvals. AAHL had… More
Didi’s headquarters in Xisanqi, Haidian District, Beijing, China, in August 2020. Costfoto/Barcroft Media via Getty Images Beijing is ramping up its scrutiny of ride-sharing giant Didi Global, announcing on Friday that seven government departments have jointly launched an on-site cybersecurity investigation into the company. The Cyberspace Administration of China (CAC) said in a brief notice… More
Xiaomi is now the world’s No. 2 smartphone vendor. Xiaomi Beijing-headquartered Xiaomi surpassed Apple to become the world’s No. 2 smartphone supplier in the second quarter of the year, research firm Canalys said today. Xiaomi’s shipments rose by 83% from a year earlier, giving it a 17% global market share, according to Canalys figures. “Xiaomi… More
A video recording of a livestream of Jack Ma addressing teachers at an annual event he hosts to … [+] recognize rural educators on a laptop computer in January. Ma resurfaced after months out of public view that fueled intense speculation about the plight of the billionaire grappling with escalating scrutiny over his internet empire. Photographer:… More
Liang Changlin, founder of Chinese online grocery platform Dingdong. Dingdong Liang Changlin, the founder of Chinese online grocery platform Dingdong, has joined the ranks of the world’s billionaires after the American depositary shares of his company surged 39% in the days after its debut on the NYSE. At their current price of $32.57, Liang has… More
Anthony Tan, cofounder and CEO of Grab, speaks during a panel in Singapore on November 6, 2018. Justin Chin/Bloomberg Grab Holdings and Singtel have again teamed up in order to bid for a digital banking license in Malaysia, intensifying the contest for the five licenses that are available. Singtel—Singapore’s biggest telco—announced the joint bid with… More
Customers can pay by scanning PayMaya QR codes at some shops in the Philippines. Courtesy of PayMaya Voyager Innovations said it has raised $167 million to accelerate the expansion of fintech unit PayMaya Philippines, as the company seeks a digital banking license from the country’s central bank. The fintech company said existing shareholders, including U.S. private equity… More
Raffles City Shanghai, located next to Nanjing Road in the city, consists of a shopping mall and … [+] office areas. Courtesy of CapitaLand CapitaLand agreed to sell part of its stakes in a portfolio of six integrated shopping and office properties across China to Ping An Life Insurance for 46.7 billion yuan ($7.2 billion)… More
China’s central bank has asked Ant Group’s e-wallet Alipay and four state-owned banks to step up … [+] their clampdown on cryptocurrencies. SOPA Images/LightRocket via Getty Images China’s central bank has ordered Ant Group and four state-owned banks to step up their clampdown on cryptocurrencies as Beijing intensifies its efforts to eradicate transactions involving bitcoin… More
A view of the joint Sino-French Taishan Nuclear Power Station being built outside the city of … [+] Taishan in Guangdong province on December 8, 2013. PETER PARKS/AFP via Getty Images A report of a possible radiological leak from China’s Taishan nuclear reactor, first reported by CNN, is raising questions about safety and transparency of… More
Hong Kong police are again targeting the city’s pro-democracy newspaper Apple Daily by arresting its chief editor and four other executives in early morning raids on Thursday. They were all taken into custody on suspicion of colluding with foreign powers, as authorities continue their campaign of clamping down on all forms of dissent. Ryan Law,… More
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