BP has sold out of the Shanghai Secco Petrochemical Company by offloading its 50pc stake in the business to the subsidiary of project partner Sinopec for $1.68bn (£1.3bn). The Chinese state-backed oil giant already holds a 30pc stake in Secco and a ... ( read original story ...)
Best Heaven on Earth for Business Travelers: Suzhou, China
Are you traveling for business or attending a conference to Shanghai, China? If so, you just can’t miss spending some time exploring the surrounding regions. If we have to name one, consider this: Suzhou. The guys at Los Angeles-based Cheap Every Door ... ( read original story ...)
Hong Kong bourse joins regulators to fight to host world’s biggest IPO
The existing stock connects between HKEX and the two stock exchanges in Shanghai and Shenzhen only allow investors to do cross border trading in companies already listed. “It would be the perfect match to launch the IPO connect and the Saudi Aramco IPO ... ( read original story ...)
UniFi's related Chinese Internet-based Financial Information Services Provider, MaiziJinfu, Raises Series B Funding
SHANGHAI, April 26, 2017 /CNW/ -- UniFi's parent company Shanghai Wheat Asset Management Co., Ltd. ("MaiziJinfu", "Maizi" or "the Company"), a China-based Internet-based financial information service provider, today announced that it has received Series B ... ( read original story ...)
Chinese stocks are experiencing the mother of all dead cat bounces
There has been a mysterious weakening in the Shanghai Composite Index over the past two weeks ... The Chinese famously, and rather comically, tried to plug a stock market crash in the summer of 2015 by touting how China Securities Finance Corp. was coming ... ( read original story ...)
Reserve Bank of India penalizes banks
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday imposed monetary penalty on the Hongkong and Shanghai Banking Corporation Ltd. and the Kotak Mahindra Bank for violation of instructions on reporting requirements of FEMA 1999. The central bank ... ( read original story ...)
HSBC, Kotak fined for FEMA violation
MUMBAI: Reserve Bank of India has penalized Honkong and Shanghai Banking Corporation and Kotak Mahindra Bank for failing to adhere to guidelines on Foreign Exchange Management Act 1999. In a statement issued here on Wednesday, RBI said that it has imposed ... ( read original story ...)