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FOR weeks, those of us in Asia watched the US stock frenzy with amazement – how a video game-like trading interface could lure millennials, cost fortunes and some even their lives; how Tesla Inc founder Elon Musk became richer than Warren Buffett; and why on earth retail investors were rushing to buy shares of Hertz Global Holdings Inc, even though the car rental company had filed for bankruptcy.
HONG KONG: China's national security law for Hong Kong and moves by the United States to begin withdrawing privileges enjoyed by the city under U.S. law have unsettled investors.
SOME top advisers to President Donald Trump want the U.S. to undermine the Hong Kong dollar’s peg to the U.S. dollar as the administration considers options to punish China for recent moves to chip away at the former British colony’s political freedoms, according to people familiar with the matter.
BEIJING (Reuters): China lodged stern representations with the United Kingdom on Wednesday (June 3) over its foreign secretary's remarks on Hong Kong.
HONG KONG (Reuters): Hong Kong had no plans to change its currency's peg to the US dollar and the Asian financial hub has not seen any "obvious" capital outflows after Washington moved to strip the city of its special status in US law, the city's finance secretary said.
For much of the world, oil wealth is a curse. Endowed with ample reserves of hydrocarbons, the likes of Nigeria, Angola, Kazakhstan, Mexico and Venezuela frittered the benefits away.
BEIRUT (Reuters) - When she heard Lebanese banks would limit cash withdrawals, Rita, a doctor, rushed out to buy a $10,000 (£7,608.03) Rolex watch on her credit card, anxious to protect some of her savings. "It's better than keeping my money in the bank," she said.
HONG KONG: Hong Kong’s economy is set to contract in the fourth quarter as the city reels from six months of violent social unrest, the financial chief said Sunday.
HONG KONG: Hong Kong’s economy is set to contract in the fourth quarter as the city reels from six months of violent social unrest, the financial chief said.
HONG KONG (BLOOMBERG) - Hong Kong's economy is set to contract in the fourth quarter as the city reels from six months of violent social unrest, the financial chief said on Sunday (Dec 29).