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Hong Kong Jumps 2% As Meituan Shares Surge; Singapore Travel Stocks Soar

SINGAPORE — Shares in Asia-Pacific were mostly higher in Monday trade as stocks in Hong Kong led gains regionally. Hong Kong’s Hang Seng index rose 2.09% in morning trade. Shares of Meituan in Hong Kong surged 7.97%. China’s market regulator on Friday said it had fined the company about 3.4 billion Chinese yuan ($527.71 million) after finding it guilty …

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A Robust Ecosystem For Local Businesses

Despite the pandemic pushing both customers and retailers to e-commerce platforms in droves, research shows that adoption among small and medium enterprises (SMEs) still lags behind that of larger firms. “Digital uptake is picking up, but remains low among SMEs, particularly e-commerce participation,” states a survey by the Organisation for Economic Co-operation and Development (OECD) …

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Zuckerberg Loses $6 Billion in Hours as Facebook Plunges

Mark Zuckerberg’s personal wealth has fallen by more than $6 billion in a few hours, knocking him down a notch on the list of the world’s richest people, after a whistleblower came forward and outages took Facebook Inc.’s flagship products offline. A selloff sent the social-media giant’s stock plummeting 4.9% on Monday, adding to a drop …

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Evergrande Downfall To Take Markets, Economy Along As Millions Hurt

(CapitalWatch, Sept. 17, Hong Kong) Bad news for China Evergrande Group (HKEX: 3333; OTC: EGRNF) came in waves over the past few months – and now, it’s down to the real estate giant’s potential collapse. Wealth management products recently sold by Evergrande Wealth have gone unpaid. The funds are now difficult to redeem, according to Liang …

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MDV Plans Issuance Of New RM2B Fund To Increase Support For Green Tech Projects

KUALA LUMPUR (Sept 30): Malaysia Debt Ventures Bhd (MDV) is planning the issuance of a new RM2 billion fund that will allow it to accelerate efforts in financing green technology projects and support the government’s green growth target, which was outlined in the 12th Malaysia Plan (12MP) that was tabled in Parliament recently. The wholly-owned …

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Tiger Global And Accel Back Indonesia’s Latest Fintech Unicorn Xendit

JAKARTA, Sept 15 (Bloomberg): Xendit, which provides payment services for businesses in Indonesia and the Philippines, has become a billion-dollar startup or unicorn after raising US$150 million in a funding round led by Tiger Global Management. Existing backers Accel Partners, Amasia and Twitch founder Justin Kan’s Goat Capital joined the financing, which will help the …

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Global Debt Is Fast Approaching Record $300 Trillion – IIF

LONDON, Sept 14 (Reuters) – Global debt rose to a new record high of nearly $300 trillion in the second quarter, but the debt-to-GDP ratio declined for the first time since the start of the pandemic as economic growth rebounded, the Institute of International Finance (IIF) said on Tuesday. Total debt levels, which include government, …

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BNM Maintains OPR At 1.75%, Expects Easing Of Containment Measures, Vaccination Programme To Support Growth

KUALA LUMPUR (Sept 9): The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) has decided to maintain the overnight policy rate (OPR) at 1.75%, marking the seventh consecutive meeting in which the key policy rate is maintained. The rate was last adjusted following the July 7, 2020 MPC meeting, which saw a 0.25 basis …

BNM Maintains OPR At 1.75%, Expects Easing Of Containment Measures, Vaccination Programme To Support Growth Read More »

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