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September, 29, 2016

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China
Big IPO, small splash in Hong Kong for Postal Savings Bank of China
Postal Savings Bank of China (PSBC) made a low-key debut on the Hong Kong bourse Wednesday, despite notching up the world's biggest IPO in two years aimed at expanding the business.
 
Hundreds of Hong Kong pro-democracy supporters holding yellow umbrellas held three minutes' silence outside the city's government offices Wednesday to mark the second anniversary of mass protests challenging Beijing.
 
Credit default swap trading 'no threat to property market'
Trading in credit default swaps is unlikely to trigger a substantial correction in China's property market, economists said on Tuesday, saying that concerns that speculators would use credit default to short the market were unfounded.
 
Lenovo to cut up to 1,000 jobs at Motorola
Lenovo Group Ltd confirmed on Tuesday the latest round of layoffs of about 1,000 employees, mostly from the overseas Motorola unit, in a bid to turn around the fortunes of the Chinese company's loss-making smartphone business.
 
Trade initiative is 'direction of future'
The first US presidential debate might have been the most-watched event around the globe on Monday night local time, with the expected protectionist remarks made by candidates Donald Trump and Hillary Clinton.
 
China's ultra-rich led the rise in global wealth in 2015, with the fortunes of the nation's richest rising 10 percent despite a slowing economy and stock market fluctuation, the Wall Street Journal reported.
 
Xiaomi records three million orders for new smartphone series
Chinese tech company Xiaomi has received more than three million pre-orders of its newly released flagship smartphone series and the number is growing, said Wei Lai, vice-president of mi.com on his Weibo account on Wednesday.
 
Midea partners with NXP for new smart kitchen appliance
Cooking will become smarter thanks to a new technology implemented in semiconductor microwave heating devices.
 
Chinese authorities blamed illegal mining activities for a gas explosion at a coal mine that killed 19 people and left one other miner missing, Chinese state media reported Wednesday.
 
Renminbi use surges in London in spite of Brexit
London's offshore yuan activities continue to surge despite Brexit uncertainties, according to the latest figures from China's central bank.
 
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