Shimao Group’s debt woes deepen as offshore restructuring plan faces uphill battle
Shimao Group Holdings, the Shanghai-based property developer, is in the midst of a challenging financial situation, trying to restructure its offshore debt of US$11.7 billion. [more…]
Novo Nordisk dives deeper into cardiovascular realm with Cardior acquisition
In a move set to bolster its presence in the cardiovascular disease arena, Novo Nordisk has announced the acquisition of Cardior Pharmaceuticals for up to [more…]
Russia orders oil output reduction to meet OPEC+ target, boosting global prices
In a move to fulfill its commitment to OPEC+ and support international oil prices, the Russian government has directed companies to decrease oil production in [more…]
Discovery Bay Ferry sparks fare controversy despite taxpayer support
Discovery Bay Transportation Services has once again sparked controversy by requesting a substantial 60 per cent increase in ferry fares, setting off alarm bells among [more…]
Hong Kong authorities dismiss foreign travel warnings as “Political Maneuvers”
Hong Kong authorities have rebuffed recent travel advisories issued by Australia, Taiwan, and Britain following the enactment of the new domestic security law, dismissing them [more…]
Boeing CEO Dave Calhoun to step down in management shake-up
In a surprising move, Boeing CEO Dave Calhoun has announced that he will be stepping down from his position at the end of 2024, marking [more…]
European Union initiates probes into American tech giants under new Digital Markets Act
In a significant move, the European Union has initiated investigations into tech giants Apple, Alphabet (Google’s parent company), and Meta (formerly Facebook) under the newly [more…]
Rollercoaster week ahead for investors as markets eye U.S. inflation data
Investors are gearing up for a potentially tumultuous week as Asian shares cautiously inched higher on Monday. The market mood remains cautiously optimistic, with hopes [more…]
France raises terror alert to highest level following Moscow shootings
In an unanticipated move, the French government has elevated its terror alert warning to the highest level in the aftermath of the shootings in Moscow. [more…]
Australia’s $3 billion boost to British industry for nuclear submarines
In a move to bolster its defense capabilities, Australia has pledged 4.6 billion Australian dollars ($3bn) to support the construction of nuclear-powered submarines in the [more…]