Fitch cuts Oi, Portugal Telecom to junk after Rioforte’s default

Fitch Ratings downgraded Brazil’s Oi SA and Portugal Telecom SPGS SA to junk after a unit of Espirito Santo International defaulted on debt payments to the European carrier, which plans

Casino stocks fall in HK amid gaming slowdown

The Hong Kong-listed unit of Las Vegas Sands Corp. dropped 1.2 percent to close at HKD55.75, the lowest level since June 25. Wynn Macau Ltd. lost 2.5 percent and Galaxy

Corporate Bits | Sands China announces promotions for eligible employees

“In view of the company’s business development, labor supply and business operation, Sands China has had a master plan geared toward further enhancing its team member structure and benefits scheme.

NEXT GENERATION TAXIS | Tech companies race to recruit drivers offering USD1,000 bonuses

Leifer has worked for San Francisco-based Lyft, the mobile application that lets people hail rides from cars festooned with pink mustaches, for the past year. In May, she picked up

Corporate Bits | Twentieth century fox plans theme park in korea

Initial plans for Twentieth Century Fox World Korea include a theme park spanning more than 75 acres of land, which will be part of a leisure resort more than 700

Bank of China hires in Hong Kong

Bank of China Ltd. is hiring traders and sales people in Hong Kong as it sets up a high-yield bond-trading platform to boost market share and cement its position as

Sydney set for biggest hotel boom since Olympics

Fourteen years after the last major hotel opened in Sydney’s center, 42 developers are competing to turn two 100-year-old government office buildings into accommodations as demand soars. Elsewhere in the city,

Corporate Bits | Paris Saint-Germain pre-season Game in Hong Kong

In preparation for the trip to Asia to face Hong Kong champions Kitchee FC, and to participate in the Trophée des Champions, Manager Laurent Blanc said that he is bringing

Draghi seen delivering USD1 trillion to banks in ECB offer

Mario Draghi’s newest stimulus tool will hand banks more than 700 billion euros (USD950 billion) of cheap funding, economists say. The European Central Bank (ECB) has identified lending to companies

Man United clinches USD1.3b Adidas kit deal

Manchester United has secured the most lucrative kit deal in football, announcing that Adidas has agreed to pay USD1.3 billion over 10 years to take over the sponsorship from Nike. The

Corporate Bits | CEM elects new board of directors and executive committee

Mr Xu Kaicheng, a master degree holder, also holds an honorary doctorate from Macau University of Science and Technology. He joined Shanghai Petrochemical General Factory in 1973. He has held

A look at China’s territorial disputes

Japan -  Beijing's dispute with Tokyo is by far its most bitter, centering on a chain of islands the Chinese call Diaoyu and Japanese call Senkaku. The uninhabited islands are

ANALYSIS | Hoping to project power, China finds itself alone

Jack Chang, Beijing Nearly three decades after Chinese leader Deng Xiaoping famously instructed his diplomats to "be good at maintaining a low profile and never claim leadership," a new generation of

Portugal Telecom falls as BES debt trips merger alarm

John Glover and Joao Lima Bonds and stocks of Portugal Telecom SGPS SA tumbled on concern that its merger with Brazil’s Oi SA will be undermined by its purchase of short-term

Corporate Bits | National Ballet of China ready for Venetian Theatre performances

The National Ballet of China is celebrating the 1964 debut performance of “The Red Detachment of Women,” by staging this well-known Chinese classical ballet; once again in major cities throughout

Japan’s USD187 billion pinball pastime bets on casinos

Yuki Yamaguchi Welcome!” two young women in shorts and Hawaiian shirts chime over the clatter of pinballs and J-Pop at the Million pachinko parlor in the Tokyo residential area of Suginami. “All