Category: News

Macau casino stock dropped on Monday, bounced by the detentions of 11 people over claimed cross-border betting and financial fraud connections, with the creator of the gaming hub’s largest junket provider suspected to be among those held in custody. MGM China (2282.HK) dropped 11%, Wynn Macau (1128.HK) dropped 9%, and Sands China (1928.HK) dropped 6%…

Due to data security fears, Chinese authorities have inquired top leaders at Didi Global Inc (DIDI.N) to come up with a plan to de-list from the New York Stock Exchange. According to folks familiar with the issue, Chinese authorities have asked Didi Global Inc.’s leading executives to come up with a plan to disband from…

Barclays (LON:BARC) raised its oil price forecasts for 2022 on Tuesday, noting a faster-than-expected inventory decline and a conservative supply reaction as justifications. The bank boosted its Brent and West Texas Intermediate (WTI) average price forecasts for 2022 by $3 to $80 and 77 per barrel, respectively. Brent Crude prices are expected to average $80…

On Wednesday, Toshiba Corp’s second-largest shareholder opposed the Japanese company’s decision to break itself into three businesses, instead urging it to seek offers from potential purchasers. In a three-page letter to Toshiba’s board, investment fund 3D Investment Partners, which controls more than 7% of the business, laid out its reservations, becoming the first large shareholder…

C.P. Group and Telenor Group have agreed to examine the formation of a new telecom-tech business that includes True and DTAC. With the assistance of its important sponsoring shareholders, the new firm will be a merger of equals, bringing the best of the two local companies together. Telenor (TEL.OL) of Norway and Charoen Pokphand Group…