Tag: Kong

Motley Fool to close Hong Kong business due to political uncertainty

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HONG KONG, Oct 8 (Reuters) – Investment news site Motley Fool will shutter its Hong Kong operations due to the uncertain political outlook in the Asian financial hub, according to a post on the company’s website earlier this week.

The move adds to ongoing concerns about the media and the investment environment in Hong Kong, following the implementation in late June of a new national security law, imposed by China, which introduced severe penalties for anything deemed as secession, subversion, terrorism and collusion with foreign forces.

The post, by Hayes Chan, Motley Fool’s Hong Kong lead analyst cited last year’s protests, the introduction of a National Security law and the United States and China’s economic decoupling as reasons for the uncertainty.

“With all those uncertainties, it’s hard to make predictable decisions to grow our Foolish business here over the next 3-5 years,” the statement said.

Hong Kong’s leader Carrie Lam

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Indebted developer China Evergrande gets approval to spin off property management business, raise fresh capital in Hong Kong

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a close up of a sign: An Evergrande construction site in Guangzhou, in China’s southern Guangdong province. Photo: Reuters

An Evergrande construction site in Guangzhou, in China’s southern Guangdong province. Photo: Reuters

Indebted mainland property developer China Evergrande said on Friday it had received approval from the Hong Kong exchange to spin off its property management business, which would allow it to raise fresh capital.

The Shenzhen-based company, China’s biggest property developer, made the proposal on July 31 and will soon apply to list the business in Hong Kong, according to a filing with the exchange late on Friday.

The spin off could help Evergrande raise up to HK$40 billion (US$5.2 billion), according to Raymond Cheng, property analyst at CGS-CIMB Securities, including HK$24 billion from the sale of a 28 per cent stake in the property management business a month ago to 14 investors, and a potential HK$10 billion to HK$15billion from the listing.

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Swedish Technology Company Cuts Business Ties With Hong Kong

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Computer Data Tech Following Unprecedented Global Cyberattack

Photographer: Chris Ratcliffe/Bloomberg

Photographer: Chris Ratcliffe/Bloomberg

A Swedish firm that supplies law enforcement and government agencies with technology to extract data from mobile phones said it has pulled its business from Hong Kong.

The decision by Stockholm-based Micro Systemation AB came after a White House executive order on July 14 stripped Hong Kong of its special trading status, said Mike Dickinson, deputy executive officer. That status had granted Hong Kong more favorable treatment than China.

Dickinson said in an email that his company, known as MSAB, would no longer “supply solutions” to the Cyber Security and Technology Crime Bureau of the Hong Kong Police Force, nor any other government agencies in the territory. He said the executive order “impacts our U.S. legal entity and presence in the U.S.A.”

MSAB had pulled its business from China earlier in 2020 due to changes in “regulatory regimes and restrictions” related to

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Hong Kong Blockchain Week 2020 Goes Virtual to Feature International Leaders of Finance and Tech

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TipRanks

Morgan Stanley Bets on These 3 Stocks; Sees Over 40% Upside

Did the stock market’s epic rally just need a little breather? The last few weeks have seen stocks experience their first meaningful correction since the bull market kicked off in March. Now, the question swirling around the Street is, will the rally pick back up again, or is more downside on the way?According to Morgan Stanley’s chief U.S. equity strategist Mike Wilson, uncertainty regarding the presidential election and stalemate on the next stimulus package could lead to declines in September and October. “On the correction, there’s still downside as markets digest the risk of congressional gridlock on the next fiscal deal. While we think something will ultimately get done, it will likely take another few weeks to get it over the goal line,” he noted.However, Wilson argues the recent volatility in no way signals the end of the

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China’s First “Space Noodles” Debuts in Shanghai Master Kong Joins Hands with CSF to Open Another New Chapter, Business News

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SHANGHAI, Sept. 3, 2020 /PRNewswire/ — Recently, with China’s first Mars probe “Tianwen 1” having reached a flight mileage of 100 million kilometers, the record for China’s deep space exploration mileage has thus been broken. During the constant development of the aerospace undertakings such as Beidou satellite and navigation networking, Chang’e moon probe activities, return of Long March 5 series launch vehicle, new spacecraft launch and Mars exploration, Master Kong has built the closest relationship with the aerospace industry as a domestic instant noodle brand, and its braised beef noodles and express noodles have become the first space noodles served in China.

To jointly honor this historic moment, the “Quality Aerospace for Better Life-Master Kong Instant Noodle Ceremony & China Aerospace Partner Signing Ceremony” was co-held by Master Kong and China Space Foundation (CSF) on September 2, 2020, presented by leading representatives including Wu Zhijian, Chairman

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Japanese online brokerage SBI considering retreat from Hong Kong

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TOKYO, Sept 9 (Reuters) – Japan’s giant online brokerage SBI Holdings Inc is considering retreating from Hong Kong which has been unstable due to a new security law imposed by China, a spokesman said on Wednesday, confirming reports by local media.

SBI, which operates a securities business as well as research and development of medical supplies in Hong Kong, has become the first Japanese financial firm to clearly indicate such a move is under consideration.

“It’s true we are considering retreating from Hong Kong or downsizing our business there,” the spokesman said, adding the company believes Hong Kong’s status as a global financial centre may fall.

The spokesman said the company employs dozens of people there but declined to comment on where it might move to.

Chief Executive Yoshitaka Kitao has pledged to position Japan as a global financial centre, replacing Hong Kong, according to Japan’s Jiji news agency.

China’s

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Xinhua Silk Road: Master Kong signs agreement with CSF to launch space instant food

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BEIJING, Sept. 6, 2020 /PRNewswire/ —

Chinese food and beverage giant Master Kong, also known as Tingyi Holding Corp., on Wednesday signed an agreement with China Space Foundation (CSF) to launch China’s first kind of space instant noodles.

In the past three years of cooperation between the two sides, the CFS has injected aerospace elements into Master Kong’s corporate development, said Wu Jiexuan, chairman of the CSF, at the signing ceremony, adding that the two parties will strive to expand the scope for future cooperation and jointly contribute to China’s aerospace development.

James Wei, CEO of Master Kong, said that as a national brand, Mater Kong has always insisted on keeping pace with the country’s development, and it has vowed to contribute to the vigorous development of China’s aerospace industry based on the company’s development strategy.

The launch of space instant noodles is just a start. In the

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China’s First “Space Noodles” Debuts in Shanghai Master Kong Joins Hands with CSF to Open Another New Chapter

[email protected]_84 master in business

SHANGHAI, Sept. 3, 2020 /PRNewswire/ — Recently, with China’s first Mars probe “Tianwen 1” having reached a flight mileage of 100 million kilometers, the record for China’s deep space exploration mileage has thus been broken. During the constant development of the aerospace undertakings such as Beidou satellite and navigation networking, Chang’e moon probe activities, return of Long March 5 series launch vehicle, new spacecraft launch and Mars exploration, Master Kong has built the closest relationship with the aerospace industry as a domestic instant noodle brand, and its braised beef noodles and express noodles have become the first space noodles served in China.

To jointly honor this historic moment, the “Quality Aerospace for Better Life-Master Kong Instant Noodle Ceremony & China Aerospace Partner Signing Ceremony” was co-held by Master Kong and China Space Foundation (CSF) on September 2, 2020, presented by leading representatives including Wu Zhijian, Chairman

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