Hong Kong bank funds said frozen for some tangled in 1MDB probe

Hong Kong bank accounts belonging to several unnamed individuals have been frozen amid global investigations into the finances of a troubled Malaysian state fund, according to people with knowledge of

Uber, China’s Alipay expand cooperation to foreign markets

Ride-hailing service Uber and the payment service of e-commerce giant Alibaba Group are expanding a partnership to allow Chinese travelers to summon and pay for a car in any country

Automaker | BMW enjoys strong Europe, Asia sales but cautious on outlook

Profit rose to 1.64 billion euros (USD1.88 billion) from 1.52 billion euros a year earlier. The figure, however, was short of the consensus estimate for 1.68 billion euros as compiled

PMI | China manufacturing slowed in April

The Caixin magazine purchasing managers’ index (PMI) declined to 49.4 from March’s 49.7 on a 100-point scale on which numbers below 50 show activity contracting. It said conditions have worsened

Banking | HSBC profit lower in volatile market

The London-based bank said yesterday it earned USD5.4 billion in the three months ending March 31 on revenue of $15 billion. It said revenue was down from $15.9 billion the

Corporate Bits | Sheraton to offer mother’s day feast

The Mother’s Day Brunch at Bene will feature a selection of imported Italian cheeses and salami, succulent roasted meats, as well as artisanal plates of pastas, seafood, and meat. In addition,

Reckitt Benckiser Korea apologizes for deadly sterilizers

British consumer goods company Reckitt Benckiser apologized yesterday for selling deadly disinfectants that killed or injured hundreds of people, five years after the government ordered the company to remove the

Infrastructure | Japan announces USD7 billion plan to develop Mekong region

Japan’s foreign minister announced a multibillion-dollar initiative yesterday to promote development in Southeast Asia’s Mekong region, which encompasses parts of Vietnam, Laos and Thailand through which the river flows. In a

Corporate Bits | Sands China awards outstanding employees

Five team members and two teams from among a pool of 227 nominations were recognised with seven distinct awards for their achievements in exemplifying the company’s “Because We Care” values

Corporate Bits | City of Dreams 5th tower wins construction awards

“Melco Crown Entertainment is committed to maintaining the very highest standards of Occupational Health and Safety practice,” said Lawrence Ho, Co-Chairman and Chief Executive Officer. “We work closely with our

Real Estate Matters | The best places to live in Macau (Part 4)

Juliet Risdon is a Director of JML Property and a property investor. Having established the company in 1994, JML Property offers Investment Property & Homes. It specializes in managing properties

Japan central bank holds fire on fresh monetary stimulus

Japan’s central bank stunned financial markets yesterday with a decision not to splash out still more monetary stimulus for the ailing economy — apart from zero-interest loans for an earthquake

Luxury | Hermes sales buoyed by bags after boosting leather output

Revenue reached 1.19 billion euros (USD1.35 billion), Hermes said yesterday, matching the median analyst estimate. Sales rose 6.2 percent, excluding currency fluctuations, slightly ahead of the 5.8 percent estimate. The

Hospitality | HNA to buy Radisson operator Carlson Hotels

HNA Tourism Group will acquire all of Carlson Hotels Inc., the companies said in a joint statement released this week that did not disclose the purchase price. They said that Carlson’s

Corporate Bits | wynn palace focused on hiring locals

In addition, Wynn Palace has also organized on campus recruitment days in collaboration with various tertiary institutes, attracting over 1,000 students. The company also orchestrated a Seminar and Open Day

Etihad Airways announces USD103m profit for 2015

Etihad Airways yesterday announced profits of USD103 million in 2015 off total revenues of $9.02 billion, marking a fifth year in the black on its strategy of partnering with other

Nintendo sinks into bigger quarterly loss on weak sales

Nintendo also said yesterday that its new game platform codenamed NX will be launched globally in March next year. Some game fans had expected the machine might be shown at

Corporate Bits | IGT and paradise entertainment sign patent deal

According to a press release issued by Dow Jones & Company, Inc., the agreement provides IGT with exclusive rights to Paradise’s Table Game IP for the development, manufacturing and distribution

Singapore bets on rising Asia middle class to spur economy

The rise of the Asian middle class will remain the dominant regional growth story for years to come, enough to help Singapore cope with headwinds from the global economy, a

Aviation | Albania’s airport sold to a Hong Kong-based joint venture

Albania’s Tirana International Airport has been bought by Hong Kong-based China Everbright and Friedmann Pacific Asset Management. According to a statement emailed to The Associated Press yesterday by China Everbright, the

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