Hong Kong businesses will likely foot the bill for vandalism as few have riot insurance

Coverage for civil unrest, particularly for small and mid-sized firms, is uncommon, industry insiders said. While businesses flood insurers with claims for such damage, few are likely to be fully compensated as Hong Kong insurance usually protects against events such as fire and natural disasters, such as typhoons. Anti-government demonstrations have taken place on almost every weekend since June 9. […]

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Hong Kong central bank cuts lenders' cash reserves to support economy amid protests

The Hong Kong Monetary Authority (HKMA) has cut the amount of cash that banks must keep as reserves, releasing an extra HK$200-300 billion ($25.50-38.24 billion) into the broader economy. It is the first cut in the Countercyclical Capital Buffer ratio since it was introduced in 2015. Hong Kong, which has been rocked by four months of often huge and violent […]

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North Korean projectile landed in Japan's exclusive economic zone, Tokyo says

A North Korean missile appears to have fallen into Japan's Exclusive Economic Zone Wednesday morning, Japan's top government spokesman said. There were no reports so far of any impact on aircraft or ships in the vicinity. North Korea carried out another projectile launch on Wednesday, the South Korean military and Japan's Coast Guard said, a day after North Korea announced […]

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China's factory activity shrinks for 4th month as trade woes deepen

The Purchasing Managers' Index (PMI) fell to 49.5 in August, China's National Bureau of Statistics said on Saturday, versus 49.7 in July, below the 50-point mark that separates growth from contraction on a monthly basis. A Reuters poll showed analysts expected the August PMI to stay unchanged from the previous month. Factory activity in China shrank in August for the […]

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Here's why China embraced Costco, but spurned Amazon and Tesco

Costco was forced to shut its first China store after thousands crowded the wholesaler and caused traffic jams outside the store.  Analysts believe Costco satiates the hunger China has for a new concept, at a time when the development of the market is ideal.  Retail giants like Amazon and Tesco have actually retreated from the country after struggling to gain […]

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Malaysia court postpones biggest 1MDB trial involving ex-Prime Minister Najib Razak

A Malaysian court on Monday postponed for a week the biggest of five trials linked to a multi-billion-dollar scam at state fund 1MDB and allegedly involving former prime minister Najib Razak. Najib, who lost a general election last year, has been hit with 42 criminal charges of graft and money laundering at 1Malaysia Development Berhad (1MDB) and other state entities. […]

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Hong Kong protesters throng streets peacefully in heavy rain

Hundreds of thousands of anti-government protesters rallied peacefully in Hong Kong on Sunday, filling major thoroughfares in sometimes torrential rain in the eleventh week of what have been often violent demonstrations in the Asian financial hub. Sunday's turnout showed that the movement still has broad-based support despite the ugly scenes witnessed during the past week when protesters occupied the Chinese-ruled […]

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China issues top warning for strong typhoon nearing coast

Heavy rain was expected in Zhejiang, Shanghai and nearby provinces on Friday before Typhoon Lekima hits land on Saturday morning, then weakens as it moves north. The red alert China issued is the most serious in its four-tired alert system, prompting authorities to prepare evacuations, suspend train and air travel and require vessels to return to port. China issued its […]

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Malaysia files criminal charges against Goldman Sachs executives in 1MDB corruption probe

Goldman Sachs has been under scrutiny for its role in helping raise funds through bond offerings for 1Malaysia Development Bhd, the subject of corruption and money laundering investigations in at least six countries. An estimated $4.5 billion was misappropriated from 1MDB by fund officials and their associates between 2009 and 2014, the U.S. Justice Department has said. Malaysia has filed criminal charges against 17 […]

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