Container leasing and purchasing prices in major Asian ports have fallen sharply, and a rebound is not expected for at least a few months.Continue Reading
The short-seller’s report alleged the conglomerate had artificially inflated its market value using related-party transactions conducted through tax havens. The stock market reaction sent the firm’s billionaire founder, until then Asia’s richest man, tumbling down the ranks of global rich-listers, though shares in the group’s listed entities have since stabilised.Continue Reading
Asia Index said on Friday that it would drop Adani’s two recent cement acquisitions – Ambuja Cements and ACC – from the S&P BSE 100 ESG Index from Feb 22. The Adani Group has sought to allay investor concerns. The Economic Times newspaper reported on Friday that the conglomerate plansContinue Reading
BEIJING: Chinese copper trader Maike Group has submitted a court application to start restructuring, it said on Friday (Feb 17), marking a further low for the company that was once China’s top copper buyer. The application, revealed in a statement published on Maike’s official WeChat account, is one of theContinue Reading
Battery prices had been falling for more than a decade before turning higher in 2022. But the price of lithium carbonate peaked at 597,500 yuan (US$86,832.05) per tonne in China in November. It has since fallen to 425,000 yuan a tonne, down almost 30 per cent from the peak. It wasContinue Reading
China Renaissance Holdings saw its shares plummet by as much as 50 per cent on Friday (Feb 17) after the investment bank said that it was unable to contact its chairman and chief executive Bao Fan, in the latest disappearance of a top business executive. The disappearance of Bao, theContinue Reading
TOKYO: Japanese ministries said on Wednesday (Feb 15) that advertising giant Dentsu Inc and two other companies linked to a Tokyo 2020 Olympics corruption scandal will be unable to take part in bids for contracts for nine months. Prosecutors last week arrested an ex-Tokyo Olympic official and executives at theContinue Reading
Hanwang’s shares slumped nearly 6 per cent upon Friday after the business flagged business, investing, and earnings dangers at the request from the Shenzhen bourse plus disclosed that several major shareholders experienced reduced their buy-ins. Still, the share is up 65 % so far this 30 days. If a stockContinue Reading
The sanctions monitors said South Korea estimated that North Korean-linked hackers stole virtual assets worth US$630 million in 2022, while a cybersecurity firm assessed that North Korean cybercrime yielded cybercurrencies worth more than US$1 billion. “The variation in USD value of cryptocurrency in recent months is likely to have affectedContinue Reading
BEIJING: Former chairman of China Zheshang Bank is under investigation for suspected violations of law and discipline, an anti-graft watchdog in the eastern province of Zhejiang said on Monday (Feb 6). Shen Renkang, also former party chief of the joint-stock commercial bank based in Zhejiang, was removed from his managementContinue Reading