The reinvention of Hong Kong

When Tony Lai opened his first Aji Ichiban snack store in Hong Kong in 1993, a British flag flew on top of Government House and China’s gross domestic product per capita was about the same as that of Nigeria. The chain grew to become iconic for tourists to the city, selling a range of East … Read more

UK imposes sanctions on Russian oligarch Vladimir Potanin

The UK has imposed sanctions on Vladimir Potanin, one of Russia’s richest oligarchs, along with several other individuals close to President Vladimir Putin’s inner circle. The Foreign, Commonwealth and Development Office announced on Wednesday that Potanin, owner of the Interros conglomerate and with an estimated net worth of £ 13bn, would face an asset freeze, … Read more

Grayscale sues SEC after rejected bid to turn bitcoin fund into ETF

The SEC on Wednesday rejected Grayscale’s application for a spot bitcoin ETF, citing a failure by the investment manager to answer questions about concerns around market manipulation. Nurphoto | Nurphoto | Getty Images Grayscale, which manages the world’s largest bitcoin fund, said it would sue the US Securities and Exchange Commission after regulators turned down … Read more

Central bank chiefs call end to era of low rates and moderate inflation

The world’s top central bankers have warned that the era of low interest rates and moderate inflation has come to an end following the “massive geopolitical shock” from Russia’s invasion of Ukraine and from the coronavirus pandemic. Speaking at the European Central Bank’s annual conference, Christine Lagarde, its president, Jay Powell, chair of the Federal … Read more

China PMI data, stocks, currencies, oil

SINGAPORE – Chinese markets rose on Thursday as government data showed factory activity grew in June, but most other Asia-Pacific indexes fell. Mainland China’s markets traded higher. The Shanghai Composite advanced 0.37%, and the Shenzhen Component gained 1%. The Hang Seng index in Hong Kong was up 0.13%. Shares of artificial intelligence software company SenseTime … Read more