Author: Press Room

China is set to make market-oriented changes to the way initial public offerings are approved, as it tries to reset the economy and rebuild investor confidence after a chaotic exit from zero-Covid. Once implemented, the reforms will mark the culmination of a decade-long attempt by the country to liberalize its nearly $12 trillion stock market, which could make it easier for companies to raise money from domestic investors. The new registration-based IPO system, based on the model in the United States, will apply to all domestic stock exchanges, including the main ones in Shanghai and Shenzhen, according to an announcement…

We are seeing the “return of socialism in a form of communism” as the government continues to increase spending, says Liberal Senator Alex Antic. “When you get government spending big money, you get that return,” he told Sky News host James Morrow. Source: Sky News

Around 100 people gathered to mourn the loss of the youngster, named locally as Alice Stones, at a church near to the Milton Keynes house last nightThe mum of a four-year-old girl mauled to death by her family’s own dog is said to be “beyond heartbroken”. Locals gathered to mourn the loss of the youngster, named locally as Alice Stones, at a church near to the Milton Keynes house last night. Police were called to the home by the ambulance service on Tuesday evening and the child died at the scene. The end-of-terrace home remained cordoned off by police tape…

Shell made a record annual profit for 2022 of almost $40bn, beating market expectations in the final three months of year on the back of a strong performance from its gas trading business.Europe’s largest oil and gas company said on Thursday that adjusted earnings had more than doubled to $39.9bn, smashing the previous record of $31bn set in 2008.The earnings continued a record set of results for the world’s biggest energy companies, which have all benefited from high prices for hydrocarbons in the past 12 months amid upheaval in energy markets caused by Russia’s invasion of Ukraine.The profits generated by…

HONG KONG :Hong Kong leader John Lee unveiled on Thursday a promotion campaign that will include 500,000 free flights to lure visitors, businesses and investors back to the financial hub after more than three years of tough COVID-19 curbs.The “Hello Hong Kong” campaign launched with dancers and flashing neon lights in the city’s main convention centre beside its famous harbour, with a backdrop carrying the slogan in various languages, including Russian and Spanish.Lee, speaking in English, said the campaign would show the city was open for tourism and was aimed at boosting business and investment in the Chinese special administrative…

Hello, this is Kenji.I just came back to Hong Kong on Tuesday evening from over two weeks of reporting in Europe, including at the World Economic Forum in Davos, Switzerland. The day before I left, news broke that Renault and Nissan had finally reached an agreement to reconfigure their 20-plus-year relationship.When the Franco-Japanese alliance was forged in 1999, the driving force behind most global auto deals was size. Pressure was mounting on car manufacturers to reach a certain scale — the idea that a company needed to produce at least 4mn vehicles a year just to survive was widely accepted,…

BOSTON — The Nets left their injured trio of Kevin Durant, Ben Simmons and T.J. Warren home, not having them travel for Wednesday’s 139-96 loss to the Celtics. But they claim Simmons and Warren are trending towards a return Saturday at home against the Wizards. Durant’s knee should get reevaluated shortly thereafter, with continued sentiment he’ll be back sooner rather than later. “Hopeful, man; keep hope alive,” Nets coach Jacque Vaughn said of Simmons and Warren. “Yeah, it’s just the next day. They just weren’t ready yet. So the best thing was to leave them at home, they can get…

“Countries in this part of the world are modernising their militaries, expanding their military budgets at the fastest pace ever seen.”  Commanders of the 5,000-strong crew on board the nuclear-powered USS Nimitz, which CNA got a seat on, said their job is clear – maintaining peace and stability and minimising potential conflict at sea, along with carrying out humanitarian missions during deployments that can be as long as eight months.  Chinese leaders may, however, see it differently.  COUNTERING CHINA  The presence of US warships plays a key role in countering China, a nation White House officials have said poses the…

Shell said last month that windfall taxes imposed by the European Union and U.K. following the surge in profits would cost the group about $2 billion.Paul Ellis | Afp | Getty ImagesBritish oil giant Shell on Thursday posted its highest-ever annual profit, bolstered by soaring fossil fuel prices and robust demand since Russia’s full-scale invasion of Ukraine last year.Shell reported adjusted earnings of $39.9 billion for the full-year 2022. This comfortably surpasses the $28.4 billion in 2008 which Shell said was the firm’s previous annual record and is more than double the firm’s full-year 2021 profit of $19.29 billion.Analysts polled…

The Baltimore Orioles and Maryland Gov. Wes Moore announced a joint commitment to what they called a “multi-decade, public-private partnership” to revitalize the Camden Yards sports complex. The statement from the team and the state’s new governor came Wednesday, the deadline for the Orioles to exercise a one-time, five-year extension to their lease at Camden Yards. The team was not planning to exercise that option, according to a person with knowledge of the decision. The person spoke to The Associated Press on condition of anonymity because the club hadn’t announced its decision. With no extension, the lease is set to…