Morgan Stanley sees China restructuring troubled developer

(Sept 22): Beijing may initiate a managed debt restructuring of “a troubled property developer” in the coming week, followed by policy easing in October to contain spillover to the broader economy, according to Morgan Stanley economists. “Regulators have had a mechanism to deal with defaults of property developers and reduce systemic risk,” economists including Robin Xing wrote in a note …

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Poland to donate 400,000 doses of AstraZeneca vaccine to Taiwan

WARSAW (Sept 4): Poland will donate 400,000 doses of the AstraZeneca Plc COVID-19 vaccine to Taiwan, the foreign ministry in Warsaw said on Saturday, to help boost vaccination rates in the country. While a relatively small domestic coronavirus outbreak is well under control in Taiwan, only around 5% of its 23.5 million population are fully vaccinated, though the government has millions …

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Chinese premier urges major powers to ‘take responsibility’ for environment

SHANGHAI (Sept 4): Chinese Premier Li Keqiang urged major powers to “show responsibility” and play a leading role in improving global environmental governance and addressing such challenges as climate change. Speaking via video link at the opening ceremony of the IUCN World Conservation Congress on Friday, Li said countries should use the United Nations to draw up global rules and create …

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Perfect balance sheets harder to find in Asia than in US

(Aug 5): Asia investors following the global switch to quality stocks are not only suffering from striking underperformance but also a relative lack of candidates with the strongest balance sheets. Just two of the MSCI Asia Pacific Index’s 1,543 members have a perfect Piotroski F-Score — a financial-health assessment devised by an accounting professor to measure the overall quality of …

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Thai AirAsia August operations temporarily closed amid domestic flight ban

BANGKOK (Aug 1): Thai AirAsia has temporarily closed all operations for August amid domestic flight ban in Thailand, with all employees going on unpaid leave for the month. Thai AirAsia Co Ltd said in a statement the airline would also defer and split the salary payments to employees for July-August 2021. The airline said the suspension of flight operations since …

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Pfizer, Moderna raise Covid-19 vaccine prices in EU — report

BENGALURU (Aug 1): Pfizer Inc and Moderna Inc have raised the prices of their Covid-19 vaccines in their latest European Union supply contracts, the Financial Times reported on Sunday. The new price for the Pfizer shot was €19.50 (US$23.15) against €15.50 previously, the newspaper said, citing portions of the contracts seen. The price of a Moderna vaccine was US$25.50 a …

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Hyundai Motor Q2 net profit soars, beats estimates

SEOUL (July 22): South Korea’s Hyundai Motor Co turned in its best quarterly profit in about six years on Thursday, helped by solid demand for its high-margin sports-utility vehicles and its premium Genesis cars. Hyundai, which together with affiliate Kia Corp is among the world’s top 10 automakers by sales, reported a net profit of 1.8 trillion Korean won ($1.57 billion) for …

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