Chinese property giant Sunac China files for bankruptcy protection in US
Chinese property developer Sunac China Holdings has filed for bankruptcy protection in the United States, becoming the second major Chinese developer to do so this year. Sunac filed a petition for Chapter 15 protection with the U.S. Bankruptcy Court for the Southern District of New York on Tuesday. Chapter 15 is a type of bankruptcy that allows foreign companies to...
JPMorgan and HSBC in Talks to Invest in China’s Digital Currency
China's central bank, the People's Bank of China (PBOC), is in talks with JPMorgan Chase and HSBC about investing in its new digital currency, the e-CNY. The talks are part of the PBOC's effort to promote the e-CNY and attract foreign investment. JPMorgan and HSBC are two of the largest banks in the world, and their investment in the e-CNY...
Boeing Raises China Demand Outlook to 8,560 New Planes, Seeing Strong Growth
Boeing has slightly raised its 20-year demand outlook for China, forecasting that the country will need 8,560 new airplanes over the next two decades. Boeing's new forecast exceeds its previous estimate of 8,480 new airplanes. The forecast is on the rise due to several factors, including China's robust economic growth, the uptick in urbanization, and the steady increase in incomes....
Fintech Giant Revolut Delays Annual Report Filing, Investors Become Wary
Fintech company awaiting UK banking license Revolut, the UK's largest fintech company, has delayed filing its annual report for the second consecutive year. The company had a deadline to submit its 2022 accounts on September 13, but it received an extension until the end of December. Revolut's delayed filing comes as the company awaits a decision on its application for a...
HSBC Makes Strategic Hires to Bolster Equities Team
HSBC has hired eight former Credit Suisse bankers to its global equities unit, the bank said in a statement on Tuesday. The move comes as Credit Suisse is cutting back on its equities business. The new hires include Simon Farquharson, Andrew Rush, Steve Jobber, Simon Ansell, Alex Martin, Joseph Barreto, Matt Flanagan, and Tiffany Chiu. They will join HSBC's high...
China is Not Collapsing $BABA $JD $NIO
Hyping up China's "collapse" won't disrupt China's economic development. In the era of globalization, all countries should work together and learn to coexist for a better future. Some Western officials and media outlets have recently signaled doom and gloom for China's economy with biased reports that paint it as on the verge of "collapse." The intent is to mislead the world,...
Bitcoin ($BTC) Knightsbridge Outlook
The Week of September 12–19, 2023 in Bitcoin News The price of one bitcoin varies between $26,000 and $27,000. Over the previous week, the price of Bitcoin has remained largely constant, fluctuating between $26,000 and $27,000. After a dramatic dip in August, when Bitcoin briefly dropped below $25,000 for the first time since December 2020, something has happened recently. Following a...
India Expels Canadian Ambassador Over Sikh Separatist Murder Allegations
India Expels Canadian Ambassador The Indian government has expelled the Canadian ambassador, and the UK is actively communicating with Canada regarding "grave allegations" implicating Indian government agents in the murder of a Sikh separatist leader in Canada. In June, someone fatally shot Hardeep Singh Nijjar, whom India had designated as a "terrorist" in 2020, outside a Sikh temple in Vancouver. Canadian...
China’s BYD Rides High on EV Sales in Southeast Asia
China's electric vehicle (EV) giant BYD is expanding its reach in Southeast Asia through a series of partnerships with large, local conglomerates. This strategy has helped BYD to establish a strong presence in the region, where it now holds a market share of more than 25% of all EVs sold. BYD's partnerships with local conglomerates BYD's partners in Southeast Asia include...
India: A Growing Market for Thai Tourism
Thailand is looking to India to boost its tourism recovery after the COVID-19 pandemic. Thailand's Prime Minister, Srettha Thavisin, plans to visit India this year to meet with his counterpart, Narendra Modi, and discuss increasing flight frequency between the two countries. Thailand is also waiving visas for travelers from India, China, and Kazakhstan starting next week. These measures are aimed...
