Tag: Asia Economy

Shares of Chinese real estate developer Kaisa pop 20% after debt restructuring plan

Kaisa Group Holdings Ltd.’s City Plaza development under construction in Shanghai, China, on Tuesday, Nov. 16, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese real estate developer Kaisa announced Thursday plans for paying back investors, temporarily alleviating concerns about a default as China’s property sector continues to face pressure. Kaisa’s Hong Kong-listed […]

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Europe and Central Asia could suffer another 700,000 Covid deaths by spring as infections soar, WHO says

A patient suffering from COVID-19 receives treatment at the coronavirus disease (COVID-19) Intensive Care Unit (ICU) of the “Klinikum Darmstadt” clinic in Darmstadt, Germany, May 20, 2021. Kai Pfaffenbach | Reuters Europe and Central Asia could reach more than 2.2 million total Covid-19 deaths by next March as countries battle a surge of the highly […]

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Filipino cuisine isn’t as well-known as other Asian foods — but that’s changing

With some 12 million people across more than 100 countries, the Filipino diaspora is one of the largest in the world. Yet the food of the Philippines isn’t as widely known as some Asian cuisines. Fans of the cuisine argue that adobo — chicken or pork braised in soy sauce, vinegar, garlic and peppercorn — […]

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India’s fastest start-up to hit billion-dollar status is already profitable, says founder

Indian start-up Mensa Brands has catapulted to billion-dollar unicorn status in just six months and, in a more rarified feat, is already profitable, its founder told CNBC. The direct-to-consumer brand aggregator this week became the fastest company in India’s history to hit the coveted threshold after closing its $135 million Series B funding round at […]

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The crypto investors who raised $47 million to buy a copy of the Constitution lost their bid — here’s where the money goes now

A consortium of crypto investors pulled together $47 million worth of ether in a week to try to buy a rare, first-edition copy of the U.S. Constitution at a Sotheby’s auction — and lost. What happens to all that cash is up to the people. The group, known as ConstitutionDAO, wrote in its ‘frequently asked […]

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Evergrande shares slip after deal to raise $273 million in a business sale

An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. Bobby Yip | Reuters The sale of HengTen is Evergrande’s latest effort to raise capital. The deal is worth 2.13 billion Hong Kong dollars ($273.2 million), with 20% — or $54.6 million — due within five business days, and the rest […]

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Chinese livestreamers can rake in billions of dollars in hours. How long will it last?

Online streamers prepare for the annual Double 11 online shopping festival at Lingu e-commerce industry park on October 27, 2021 in Linyi, Shandong Province of China. Xu Chuanbao | Visual China Group | Getty Images BEIJING — Even as China’s newly rich internet celebrities keep smashing livestreaming sales records, businesses are finding other strategies that […]

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Travel writers name 7 places that are better in person than in pictures

You’ve seen the pictures: The Eiffel Tower with sky ablaze in brilliant color. The Taj Mahal with no tourists. Lakes with perfectly mirrored mountain reflections.  Unfortunately, the photos often have been doctored. Many places can’t live up to the expectations set by photography that has been filled, brushed, blurred, and balanced to a flawless finish. […]

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Fed says China’s real estate troubles could spill over to the U.S.

Ornamental statues at China Evergrande Group’s Life in Venice real estate and tourism development in Qidong, Jiangsu province, China, on Tuesday, Sept. 21, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — The U.S. Federal Reserve warned Monday of potential spillover from China’s real estate troubles to the U.S. financial system. Since this summer, […]

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Singapore introduces more ‘vaccinated travel lanes’ to include Malaysia, Sweden and Finland

Malaysia Airlines aircraft are parked on the tarmac at Kuala Lumpur International Airport in Sepang on September 7, 2020. Mohd Rasfan | AFP | Getty Images SINGAPORE — Quarantine-free travel between Singapore and neighboring Malaysia will start from Nov. 29 for vaccinated travelers, the two countries announced Monday. Sweden and Finland will also be included in […]

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