Hong Kong Financial News

Jose Raul Mulino said on Wednesday morning that U.S. President Donald Trump was lying when he said that the North American leader's administration was «reclaiming» the Panama Canal. Trump's comments to Congress came after a deal led by U.S.

Hong Kong billionaire Li Ka-shing may have just pulled off one of his boldest transactions yet. Under pressure from the Trump administration over two ports at the Panama canal controlled by CK Hutchison Holdings Ltd., Li’s company announced a plan to sell off the bulk of its global ports business to a consortium led by BlackRock Inc. In return, the Hong Kong firm will receive cash proceeds of more than $19 billion. Investors, and even some of CK Hutchison’s closest advisers, were surprised that what began with two Panamanian ports has now evolved into a much larger deal. Under the agreement, the company will sell 43 ports in 23 countries, while keeping facilities in mainland China and Hong Kong.

prime residential space in 2024, followed by 237 sq ft in Hong Kong and 344 sq ft in Singapore, according to a Knight Frank report. In comparison, Mumbai offers 1,066 sq ft, marking a 2.6% decline over the past decade as prices have risen. Bengaluru has also become less affordable, with space purchasable for $1 million decreasing by 9% to 3,617 sq ft. In Delhi, one can buy 2,239 sq ft, up 11% from a decade ago. The Prime International Residential Index (PIRI 100), which tracks luxury property price changes across 100 global cities, has recorded a 3.6% annual increase in 2024. Of these, 80 cities saw either positive or stable price growth. Seoul 18.4%, Manila 17.9%, and Dubai with 16.9% growth led global price appreciation in prime real estate.

China has signaled plans for a hydropower project in Tibet along one of the region’s main rivers, fanning speculation of a mega-dam that would test its engineering and diplomatic nous. The country will undertake the construction of a dam on the lower reaches of the Yarlung Tsangpo River in Tibet, and a power transmission project from Tibet to the Hong Kong area, the National Development and Reform Commission said in its annual report to the National People’s Congress on Wednesday. The Yarlung Tsangpo has long been mooted as a site for a mega-dam. In 2020, a state media report cited the head of government-owned Power Construction Corp. of China as saying the lower reaches of the river had a huge gorge with potential for 70 gigawatts of electricity generating capacity — more than triple that of the Three Gorges Dam, the largest in the world.

Subscribe to enjoy similar stories. It sells ice cream and sugary drinks for under $1. Its mascot looks like the love child of Frosty the Snowman and the Michelin Man.

Subscribe to enjoy similar stories. Four years ago, Xiaomi was a successful smartphone business and its car business consisted of nothing more than a plan approved by the board and a vow by billionaire founder Lei Jun to make it work. This year, the company’s assembly lines are set to turn out 300,000 vehicles, and it has already shipped more than 135,000 in less than a year on the market.

Subscribe to enjoy similar stories. Archimedes pledged to move the world, if only he had a lever long enough and a place to stand. The challenge for businesses, investors, and households is that there is no place to put our feet.

Hong Kong will cut thousands of civil service jobs and boost spending in artificial intelligence as it seeks to tackle an increasing deficit

stocks resumed their impressive start to the year on Wednesday as they rocketed more than three percent on the back of a surge in tech firms fuelled by fresh optimism over the sector in China. The rally led gains across most of Asia's markets, with investors shifting back to buy mode following a poor start to the week sparked by fresh US tariff concerns.

Subscribe to enjoy similar stories. The U.S. is ratcheting up sanctions targeting Iran’s oil supply chain, continuing the Trump administration’s “maximum pressure" campaign to effectively blockade the country’s petroleum exports, the Treasury Department said.

Asian stocks started on a risk-off mood Tuesday after US President Donald Trump’s move to curb Chinese investments and proceed with tariffs on Canada and Mexico prompted investors to trim positions. A decline in US stocks at the end of trading also hurt sentiment. Shares in Australia and Japan opened lower while futures pointed to a 2% drop in Hong Kong. A gauge of Chinese shares in the US had its biggest drop in more than four months after Alibaba Group Holding Ltd.’s American depositary receipts closed down 10%, the biggest decline since October 2022. The yield on 10-year Treasuries slid 1 basis point to 4.4% in early Asian trading while gold touched a record Monday.

Subscribe to enjoy similar stories. HONG KONG—The militaries of China and Russia, America’s top two global adversaries, are working together as never before in their long partnership, probing the defenses of the U.S. and its allies.

Asian markets rose Friday, with Hong Kong leading the way thanks to a surge in tech stocks led by ecommerce titan Alibaba. The gains put the region on course to end a positive week on a strong note and came as traders weigh the economic outlook in light of Donald Trump's tariffs drive and geopolitical machinations.

Asian stocks traded in narrow ranges after US shares fell from record highs as a disappointing forecast from the world’s largest retailer added to concern about the health of the economy. The yen strengthened past 150 per dollar. Australian shares edged higher while those in Japan ticked down due to the stronger local currency. Equity index futures pointed to initial gains in Hong Kong after a gauge of US-listed Chinese shares climbed as Alibaba Group Holding Ltd. announced its fastest pace of revenue growth in more than a year.

If linking trains to EVs seems odd, that’s only because the complementary nature of the two modes of transport has gone unexplored. That’s changing. A recent study of 328 cities in China shows that there may indeed be a connection.

United States is set to cut the size of its diplomatic mission in China by up to 10%, the South China Morning Post reported on Wednesday, citing people familiar with the situation.

Federal Reserve meeting minutes signaled that it’s in no rush to cut interest rates. Stocks in Japan and Australia dropped while equity index futures for Hong Kong also drifted lower. Contracts for US stocks also slipped in early Asian trading after the S&P 500 climbed 0.2% on Wednesday to set a new high, with defensive sectors outperforming in a sign of investor caution. The yen extended its rally against the greenback on Thursday to trade around 151 per dollar.

Nauru aims to sell citizenships for the climate-threatened island.

Asian stocks are poised for early losses as the threat of a broader global trade war and geopolitical uncertainty continued to weigh on investors. Shares in Australia dropped 1% shortly after opening Wednesday, with National Australia Bank Ltd. plunging by more than 8% after it announced a fall in earnings. Equity index futures for Hong Kong and Shanghai pointed to declines while contracts for Tokyo’s benchmark was little changed. That’s after a surge in chipmakers saw the S&P 500 edge higher and top its January record despite a slide in most big techs.

Hong Kong’s post office has announced it would continue to suspend shipping items containing goods to the United States until further notice, despite its American counterpart having reversed its ban on packages from the city and other parts of China