Chinese banking’s rising star Mao Xiaofeng faces probe over links to ex-presidential aide Ling Jihua

What has caused the rise and surprising fall of Mao Xiaofeng, the youngest-ever president of any listed bank in China? It’s all about Chinese politics.

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Beijing-backed free-trade pact to draw up blueprint by year-end

Steps are under way to draft a framework for a proposed free-trade pact that Beijing is championing as a rival bloc to a US-led trade initiative that excludes China.

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CSRC orders Founder Securities to change its directors, supervisors

The China Securities Regulatory Commission (CSRC) has reprimanded Founder Securities for violating mainland company law, and ordered the Shanghai-listed firm to change its board of directors and board of supervisors, Founder Securities announced on the Shanghai Stock Exch

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Chart of the day: China manufacturing up-tick

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Chinese MH370 relatives reject word that passengers are dead

Many Chinese families of passengers on the missing Malaysian airliner demanded Friday that Malaysian officials retract their statement that all aboard...



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School students taking way too much salt

Primary school students are consuming way too much salt than they need, says a report of the health authority. The Center for Health Protection exami...



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Eurozone deflation accelerates in January

Eurozone consumer prices fell by an alarming 0.6 percent in January, accelerating further into negative territory and confirming deflation could be se...



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Korean Air boss apologizes in court for daughter's 'nut rage'

Korean Air chief Cho Yang-Ho on Friday apologized for his daughter's behavior to a South Korean court, where she is on trial for air safety violation...



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Belgium arrests four in raids targeting Syria recruiters

Belgian police have arrested four people during nationwide raids aimed at smashing groups that recruit jihadists to fight in Syria, prosecutors said...



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Singapore launches universal health insurance

Singapore's parliament has enacted a universal health insurance scheme with nearly US$3.0 billion in subsidies to help the elderly and lower-income ...



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German retail sales grow for fifth year in row: data

German retail sales, a closely watched measure of household confidence, showed solid growth last year compared to 2013 despite rounding off the year...



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Spanish economy grows by 1.4 percent in 2014: stats office

Spain's recovering economy grew by 1.4 percent in 2014, provisional official data showed Friday, after shrinking by 1.2 percent in the previous year...



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Taiwan's economy slows in fourth quarter 2014

Taiwan's economic growth slowed in the three months to December in 2014 due to lower-than-expected overseas demand for goods and weaker domestic spe...



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European stocks rise at open

European stock markets rose at the start of trading on Friday after a solid performance on Wall Street, with London's benchmark FTSE 100 index up 0....



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(NBA) Indiana rout New York

Rodney Stuckey scored 22 points, Roy Hibbert had 18 points and 10 rebounds, and Indiana routed New York 103-82. The struggling Pacers (17-31) pick...



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(NBA) Bucks end losing steak in Orlando

Jerryd Bayless scored 19 points, Jared Dudley and Khris Middleton had 17 apiece and Milwaukee beat Magic 115-100, ending a 17-game losing streak in Or...



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(NBA) Grizzlie top Nuggets with ease

Zach Randolph had 15 points and 17 rebounds, Jeff Green added 13 points and Memphis beat Denver 99-69 to record its fifth straight. The Grizzlies h...



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(NBA) Kobe-less Lakers end skid

Jordan Hill scored 26 points and forced the second overtime with a clutch jumper, and the Los Angeles Lakers snapped their nine-game losing streak in ...



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(NHL) Canucks acquire Clendening from Blackhawks

The Vancouver Canucks have acquired minor league defenseman Adam Clendening in a trade with the Chicago Blackhawks. Clendening, 22, was selected by...



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NBA in expanded digital partnership with Tencent

The National Basketball Association is forming its largest international digital partnership through an expansion of its arrangements with Chinese Int...



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Kwok Ka-ki urges probe into parallel trade

Civic Party lawmaker Kwok Ka-ki has called for an investigation into the parallel trading in New Territories West, saying the traders' use of public t...



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Hang Seng ends lower

Hong Kong stocks fell 0.36 percent on Friday, against a backdrop of mixed Asian markets after Japan said inflation slowed in December and following ...



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US poet, singer Rod McKuen dead at 81

US poet, songwriter and singer Rod McKuen, a multiple Academy Award nominee, has died at the age of 81, US media reported. McKuen died Thursday in L...



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EOC help sought for children with special needs

A group of non-Chinese speaking parents, whose children need special attention, have told the government that they need more support from authorities....



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Private housing supply hits eight-year high

Government figures show new private housing supply has hit an eight-year high. The number of completed residential units hit 15,700 last year -- al...



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Islamic State group silent as deadline passes with no swap

Families of a Japanese journalist and Jordanian military pilot remained in limbo Friday, a day after the latest purported deadline for a possible pris...



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Thai military ramps up 'attitude adjustment' for critics

A prominent leader of the opposition Red Shirt movement and a former minister Friday became the latest critics of Thailand's junta forced to report ...



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Honda cuts full-year profit forecast

Honda on Friday slashed its full-year net profit forecast by 3.5 percent to US$4.6 billion in the face of soaring recall costs from an exploding air...



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Japan's biggest airlines project smooth annual earnings

Japan's two biggest airlines posted mixed nine-month results on Friday with All Nippon Airways posting a 57 percent rise in net profit as its intern...



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New 'Undergrad' issue blasts Leung

The Hong Kong University Students' Union has accused Chief Executive Leung Chun-ying, of being small-minded -- for criticizing one of its publications...



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Rally organizers remain defiant

Organizers struck a defiant note and said this Sunday's pro-democracy rally will go ahead despite their inability -- so far -- to find enough marshals...



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Case against ATV postponed to next month

The case against broadcaster ATV over delays in salary payments between July and September has been postponed until February 13. The move will allo...



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Businessman jailed for Wan Chai cash grab

A businessman who stole more than HK$160,000 from the millions that fell out from a security van in Wan Chai on Christmas eve has been sentenced to fi...



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Rap mogul 'Suge' Knight reportedly involved in deadly hit-and-run

Los Angeles police say rap mogul Marion ''Suge'' Knight is a "person of interest'' in a hit-and-run in Los Angeles on Thursday that left one man dea...



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Nikkei finishes higher

Tokyo stocks closed 0.39 percent higher on Friday, after Wall Street advanced and as a weaker yen boosted exporter shares. The Nikkei 225 index at th...



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Japan unemployment rate down in December

Japan's jobless rate in December eased 0.1 percentage point from the previous month to 3.4 percent, government data showed Friday. The number of un...



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Xinjiang puts curbs on phone, computer sales

Anyone buying a mobile phone or a computer in the restive far-western region of Xinjiang will have to register their personal details with police, sta...



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(NBA) Durant, Thompson added to NBA all-star game

Reigning MVP Kevin Durant and first time all star Klay Thompson were selected to the NBA all-star game as reserve players, the league announced Thur...



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Hong Kong home supply highest in 8 years

New private housing supply in Hong Kong rose to an eight-year high of 15,700 units last year, shows latest government data.

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Honda investigating possible exploding airbag death

Honda is probing a deadly crash in the United States possibly linked to exploding air bags blamed for killing at least five people, and which sparke...



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Rusal expects favourable aluminium prices

Rusal, the world’s largest aluminium producer, says it has no plan to restart this year smelting capacity idled in the past two years due to oversupply, and that it expects stable output and favourable prices of the lightweight industrial metal.

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Mainland education minister demands rejection of Western values

China's education minister has demanded strict adherence to communist ideological purity in higher education, saying Western values must never be perm...



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Amazon surprises with profit despite fierce spending

Amazon surprised the market Thursday with a quarterly profit far better than anticipated for the online giant known for pouring money into projects ...



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Vinda profit up 9.3pc

Vinda International, the largest Chinese producer of household paper products, reported a full-year net profit of HK$593.5 million, up 9.3 per cent over a year ago.

As of 10:20am, the firm’s share price had shot up 5.6 per cent to HK$12.68.

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Ex-IMF chief to go on trial for 'pimping' role in sex parties

Ex-IMF chief Dominique Strauss-Kahn, whose sexual proclivities cost him his job and a shot at the French presidency, goes on trial Monday for "pimpi...



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Man killed in Mong Kok car accident

A man was killed after being hit by a taxi in Mong Kok this morning. The 28-year-old man was crossing Nathan Road at around 4am. The taxi traveling a...



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Nikkei up by break

Tokyo stocks rose 0.63 percent on Friday morning, tracking gains on Wall Street and as a weaker yen boosted exporter shares. The Nikkei 225 index a...



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Hostage's wife pleads for husband's life

The wife of a Japanese journalist thought to be held by Islamic State insurgents in Syria urged the Japanese and Jordanian governments to work for his...



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Google takes hit on slower-than-expected growth

Google profit jumped in the recently ended quarter, but the leap fell short of market expectations as smartphone-centric lifestyles brought with the...



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Japan inflation slows again in December as spending drops

Japan's inflation rate slipped again in December, data showed Friday, as weak consumer spending and lower energy prices weighed, dealing more challe...



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(NHL) Martin Brodeur hangs up pads

National Hockey League goalie Martin Brodeur, who backstopped Canada to Olympic gold medals and the New Jersey Devils to Stanley Cups titles, announ...



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Obama budget to call for US$1b for Central America

Vice President Joe Biden says President Barack Obama's budget will call for US$1 billion in aid for Central America. He says that's three times what t...



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Balloon crew surpasses distance record in Pacific flight

Two pilots soaring over the Pacific Ocean made history Thursday, first matching and then surpassing the 5,209-mile official world distance record for ...



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PRESS DIGEST - Top stories in Hong Kong and Mainland China newspapers on January 30

These are the leading stories in Hong Kong and mainland newspapers and websites on Friday. The South China Morning Post has not verified these stories.

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Alibaba stock tanks on war of words with Chinese regulators, results

Company dismisses regulator's allegations, threatens formal complaint

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The pros and cons of China's irrational exuberance

Call it irrational exuberance with Chinese characteristics.

In August last year, a fascinating campaign unfolded in the state-run media, prodding citizens to pile into stocks.

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Apple's China surge vaults it to global smartphone tie with Samsung

Apple has captured the top spot in the mainland's smartphone market, vaulting it into a tie for global leadership for the first time since 2011 as booming sales of iPhones with larger screens helped it gain ground on Samsung Electronics.

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China's capital flow concern turned on its head by yuan weakness

For most of his 12 years as the country's central bank governor, one of Zhou Xiaochuan's biggest headaches has been what to do with all the capital flowing into the rapidly expanding economy. Now the opposite has become a concern.

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China's Car Inc raises US$500m in bond sale

Car Inc, the biggest car-rental company in China, raised US$500 million selling five-year dollar bonds as it expands in the world's largest car market.

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Indonesia wants state firms to boost capital for growth

Indonesia will encourage state enterprises to boost their capital through debt or rights issues to enable them to contribute more to economic growth, State Enterprises Minister Rini Soemarno said on Thursday.

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Bank of China (Hong Kong) weighs sale of Nanyang Commercial Bank

BOC Hong Kong (Holdings) is considering a sale of subsidiary Nanyang Commercial Bank that could fetch about US$6 billion, in a bid to stop cannibalising the business of its parent firm in China, sources said.

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Chinese stock regulator launches fresh probe into margin trading

China's securities regulator is launching a fresh probe into brokerages that are lending money to investors to speculate on stocks, amid concerns that the country's share markets are becoming over-leveraged and vulnerable to a crash that could strain the banking system.

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Chart of the day: Surging sterling index

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Proposed Asia-Pacific free trade area signals start of new era of trade cooperation

The proposed Free Trade Area of the Asia-Pacific (FTAAP), which includes China and the United States, would one day render Apec redundant, according to the latter's executive director, Alan Bollard.

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Samsung Electronics suffers earnings decline in three years

Samsung Electronics yesterday reported its first annual earnings decline in three years, as strong chip earnings failed to make up for weakness in the South Korean giant's smartphone business.

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Alibaba upbeat on next quarter after profit falls 28pc

Alibaba Group reported a 28 per cent year-on-year fall in net income for the quarter to the end of December yesterday, due to an increase in share-based compensation expenses and tax expenses.

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Emerging markets hit by downgrades

The credit rating agencies call it "migration risk" - the likelihood of a country or company being stripped of its investment grade status and being downgraded to speculative grade, or junk.

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Is SAIC correct in calling Alibaba arrogant?

Is SAIC correct in callingAlibaba arrogant?

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Confidence in Hong Kong undermined by air pollution, handling of Occupy movement

In Beijing last week, I gasped through an air pollution index of 540, breathing air that tasted of coal dust.

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Federal Reserve says it is still on track to raise rates in 2015, with US economy expanding solidly

The Federal Reserve said the US economy was expanding "at a solid pace" with strong job gains in a signal that the central bank remains on track with its plans to raise interest rates this year.

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China aims to reduce coal reliance in next five-year plan

China will rely less on coal in its energy strategy for the 2016-2020 period, with less polluting fuels set to dominate, a government official said.

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Taiwan braces for weakest economic growth in five quarters

Taiwan's export-driven economic growth could be entering a seasonal slowdown that may last longer than usual if current soft conditions outside the United States herald a downswing for major trading partners.

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APEC to turn focus to income inequality, inclusive trade

Emerging market economies will be driving the global trade talk agenda in APEC through 2020 and the group must tackle a widening gap in incomes and try to restore the faith of people that trade will bolster prosperity in the region, APEC secretariat executive director Ala

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Launch of Sands The Parisian in Macau delayed to 2016 – Sheldon Adelson

Macau casino operator Sands China’s new resort The Parisian will not be launched until next year, gambling tycoon Sheldon Adelson said as the company announced its fourth quarter adjusted EBITDA slid 14.9 per cent from a year ago to of US$711.2 million.

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US brokerage Charles Schwab eyes expansion in China

Charles Schwab, one of the world’s biggest brokerage houses with client assets worth US$2.46 trillion, is eying expansion in China as it seeks to tap growing demand from mainland investors who want to buy foreign securities.

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China’s Sino-Ocean Land Holdings announces US$1.2 billion in guaranteed notes

The year’s first dollar debt sold by a mainland China developer comes with a surprisingly low yield given the default fears stalking the market in the wake of Kaisa’s troubles.

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China regulator to inspect stock margin trading at 46 firms - Xinhua

China’s stock regulator will inspect the stock margin trading business of 46 companies, the official Xinhua news agency said, amid concerns the country’s stock markets are becoming over-leveraged and vulnerable to a sudden reversal.

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Australia inflation data curb rate bets

Australian inflation braked to the slowest annual pace in two and a half years last quarter as petrol prices plunged, yet surprisingly sharp rises in core inflation still dimmed prospects for a cut in interest rates next week.

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Benefits of oil price fall on the way

Economies and investors, having suffered the pain of the tumble in energy prices, may soon start to see more of the benefits.

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Alibaba Pictures stake puts actress Zhao Wei in spotlight

Mainland movie star and director Zhao Wei and her husband may have breached Hong Kong's disclosure law by delaying the reporting of their HK$3.1 billion purchase of a 9.18 per cent stake in Alibaba Pictures for a month.

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Gulf Arab states may need to rethink economic policy, says Qatar banker

Gulf Arab oil states may need to rethink longstanding economic policies, including their fixed exchange rates, over the next five to 10 years as economic cycles in the region and the United States diverge, a senior Qatar central bank official said in a research paper.

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'Zombie' companies haunt Vietnam's bid to revive its economy

Nguyen Nam owns an engineering services firm in Ho Chi Minh City that pays no taxes nor any salaries. The flip side is it earns no revenue either.

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HKMA warns of credit quality strains at Hong Kong banks after US rates rise

The Hong Kong Monetary Authority yesterday said credit quality could come under pressure this year as interest rates rise in the United States.

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Weaker US business investment offset by stronger consumer spending

A gauge of US business investment plans fell for a fourth straight month in December, a potential sign that slowing global growth and falling oil prices were weighing on the economy.

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World's 'freest economy' accolade does Hong Kong a disservice

World's 'freest economy' accolade does city a disservice

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Apple’s quarterly profit hits record US$18 billion on ‘staggering’ iPhone sales

Apple’s quarterly profit rocketed to a corporate record US$18 billion at the end of last year on booming sales of big-screen iPhone models, especially in China.

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Drinking the Kool-Aid of stimulus poison

Quantitative easing is the last chance for euro-zone policymakers to defeat deflation and put the economy back on the road to recovery.

Macroscope, David Brown

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Malaysian discount airline AirAsia X plans rights issue, sources say

Malaysian long-haul budget carrier AirAsia X is set to announce a rights issue of shares as early as tomorrow to try to close a growing cash-flow gap, two sources said.

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Hang Seng ends higher

Hong Kong shares edged up 0.22 percent Wednesday, reversing morning losses as investors brushed off a heavy sell-off on Wall Street that was fueled ...



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(NBA) Bulls end Warriors' 19-game home win streak in OT

Derrick Rose scored 30 points and the Chicago Bulls outlasted Golden State 113-111 in overtime Tuesday, snapping the Warriors' club-record home win st...



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German consumer confidence hits 13-year high: survey

Consumer confidence in Germany is at its highest since late 2001, as rising optimism over the economy and income expectations persuade German shoppe...



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Canon posts 10% profit rise on weak yen

Japan's Canon said Wednesday that net profit grew 10.5 percent in 2014 owing to the impact of a weak yen and cost cuts as well as strong demand for ...



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Nintendo says Apr-Dec net profit surges six-fold

Japanese videogame giant Nintendo said Wednesday its April-December net profit soared six-fold to US$504 million as a sharply weaker yen boosted its ...



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SK Hynix Q4 profit doubles to record level

South Korean chipmaker SK Hynix said Wednesday its profits more than doubled in the fourth quarter to a record high, thanks to the soaring popularit...



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(NBA) Plumlee, Oladipo among young stars in Dunk Contest

The Orlando Magic's Victor Oladipo, the 2014 NBA Rookie of the Year runner-up, and Brooklyn Nets standout Mason Plumlee are among four rising stars na...



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State commerce regulator releases damming account of Tabao.com a day before Alibaba financial report

The war of words between mainland’s largest online shopping site and the state commercial regulator escalated today after the authority released its full report on the failure of Taobao.com to ban substandard products – a day before its parent corporation, Alibaba Group,

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(NBA) DeRozan leads Raptos past Pacers

DeMar DeRozan scored 24 points and Kyle Lowry added 19 to lead Toronto to the 104-91 victory. The Atlantic Division-leading Raptors (30-15) overcam...



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(NBA) Bucks cool off Heat

Brandon Knight had 17 points and six assists as the Milwaukee Bucks put seven players in double figures on the way to beating the Miami Heat 109-102. ...



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(NBA) Irving, James give Cavs 7th straight win

Kyrie Irving matched his season high with 38 points and LeBron James added 32 to lift the Cleveland Cavaliers to their seventh straight victory Tuesda...



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(NBA) Barnes blames fine on Suns owner cursing at him

Los Angeles Clippers forward Matt Barnes was fined US$25,000 by the NBA on Tuesday for shouting inappropriate language to a fan, then tweeted his comm...



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Whisky industry worth billions to British economy: report

Britain's whisky trade is worth over 5 billion pounds to the economy each year and provides over 40,000 jobs, according to a study released on Wednes...



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Thai 'Red Shirt' leader sentenced to two years in jail

A Thai court Wednesday sentenced a leader of the opposition Red Shirt movement to two years in prison for defaming a former premier, in a move analy...



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How Zuckerberg rekindled my faith in books

Let me confide a brutal and embarrassing truth. I hate my Kindle, and all the books I devour on it.

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Malaysia to release MH370 report one day before anniversary

Malaysia will release an interim report on its investigation into Flight MH370 on March 7, a day before the first anniversary of the jet's mysteriou...



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Nikkei reverse losses at close

Tokyo stocks cast off early losses to close 0.15 percent higher on Wednesday as a weak yen and bargain hunting pushed the market into positive terri...



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Complaints about first-hand property sale rise

The Estates Agents Authority said it received 56 complaints about the sale of first-hand residential properties last year. The complaints last year...



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Pro-democracy banner surfaces at San Tin Highway

Police have found a yellow banner hanging on a bridge at San Tin Highway near Lok Ma Chau. The banner, with a slogan that said "Hang in there with ...



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China’s Baidu in partnership to sell smart kid shoes

Chinese internet giant Baidu has joined up with 361 Degrees, a leading mainland sports firm, to launch a line of smart kids shoes which enables parents to track where their kids are, a prominent step forward for the burgeoning mainland wearables market.

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Google's Waze app endangers police: LAPD chief

Google's newly acquired Waze application poses a danger to police because of its ability to track their locations, the Los Angeles police chief said...



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Singapore unexpectedly eases monetary policy to head off deflation, slowing growth

Singapore’s central bank unexpectedly eased monetary policy ahead of its scheduled review in April, in a move that extends decisive shifts by global policymakers to counter deflationary pressures and slowing growth.

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Dennis Kwok accepts Beijing's invite

Civic Party lawmaker Dennis Kwok Wing-hang, has accepted an invitation by Beijing's liaison office in Hong Kong to attend its spring reception next mo...



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China consumer sentiment declines slightly in January as jobs, real estate outlook weighs

Chinese consumer sentiment declined slightly in January, as confidence in jobs and the real estate outlook remained subdued while spending on durable goods fell to a record low.

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Alibaba quarterly results to show strong revenues, net profit modestly higher

Jack Ma Yun will likely shine some light on Alibaba Group’s latest global expansion and entertainment initiatives on Thursday, after the e-commerce giant reports its earnings in the three months to December in the United States.

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Australian core inflation eases interest rate cut pressure

A pick-up in core consumer prices in Australia has reduced the likelihood of a near-term interest rate cut, even as official statistics showed Wedne...



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Lawmaker slams Andy Tsang's 'lawlessness' remark

The Police Commissioner, Andy Tsang Wai-hung, is coming under increasing fire for warning that a "sense of lawlessness" is spreading in Hong Kong. Hi...



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Tam Yiu-chung to step down as DAB chairman

DAB chairman Tam Yiu-chung has announced he will step down from the post in March, when the party re-elects its central committee. Tam said he would ...



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Hang Seng up by break

Hong Kong shares climbed 0.33 percent in the morning Wednesday as investors brushed off a heavy sell-off on Wall Street that was fuelled by disappoi...



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Hong Kong market regulators sees more enforcement actions in 2015

The Securities and Futures Commission substantially increased its enforcement activity last year as a study showed it has issued 56 per cent more disciplinary and criminal actions against companies and individuals last year than in 2013.

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China’s yuan now the world’s 5th biggest payment currency - SWIFT

The Chinese yuan beat the Canadian and Australian dollar to rank as the world’s fifth biggest payment currency since November, but its global market share remain small compared with the US dollar.

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Yuan joins top 5 most-used global currencies

An international financial transactions agency says China's currency, the yuan, has become the fifth-most-widely used currency in global payments. ...



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Yahoo announces tax-free spinoff of Alibaba stake

Yahoo is spinning off its stake in Chinese Internet giant Alibaba, splitting off the valuable holdings in a move that sidesteps taxes. The strategy...



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Nikkei flat by break

Tokyo stocks were flat Wednesday morning after a tumble on Wall Street that came in response to a disappointing stream of corporate earnings and mix...



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HK remains world's freest economy

Hong Kong was named the world's freest economy for the 21st straight year, the Heritage Foundation. It has a score of 89.6, down 0.5 points from a yea...



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Apple profit hits record on 'staggering' iPhone sales

Apple's quarterly profit rocketed to a corporate record US$18 billion at the end of last year on booming sales of big-screen iPhone models, especiall...



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US state executes killer despite disability claim

The US state of Georgia executed a double killer Tuesday whose lawyers said he was intellectually disabled, after last-minute pleas for his life wer...



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Yahoo spinning off 15 per cent stake in China’s Alibaba

Yahoo plans to spin off its 15 per cent stake in China’s Alibaba Group Holding Ltd, responding to pressure to hand over to shareholders its prized e-commerce investment valued at roughly US$40 billion.

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Apple supplier Foxconn denies report it is cutting 1.3 million work force

Taiwanese electronics manufacturer and Apple supplier Foxconn Technology Group has denied reports that it plans to shrink its 1.3 million work force, one of the largest in the world.

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Kaisa fails to get sales ban removed at meeting

Troubled mainland property developer Kaisa Group Holdings failed to remove a block on sales at its Shenzhen projects during talks with government officials on Monday.

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The tale of HSBC, the hippo, the jumbo and JP Morgan

The tale of HSBC, the hippo, the jumbo and JP Morgan

We are looking forward to getting a copy of the new yet to be published history of HSBC.

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China's regulators mull plan to let Shanghai, Shenzhen review IPOs by middle of 2015

The mainland's securities regulator is considering handing over the power of approving initial public offering applications to the Shanghai and Shenzhen stock exchanges this year.

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Hutchison's O2 deal may involve spectrum trading with mobile rivals

Hutchison Whampoa's blockbuster bid to buy British mobile network operator O2 will not only see the Hong Kong conglomerate add minority investors to the deal, but could entail its participation in spectrum trading to appease regulatory concerns.

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Lenovo's Motorola marks return to China with new smartphone models

Motorola unveiled three smartphone models on its return to China following a two-year absence from the most populous mobile phone market.

Motorola was a mobile phone pioneer in China but pulled out in 2013 after its acquisition by Google.

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Chinese brands close value gap with foreign peers

The gap between home-grown and multinational brands in China is narrowing as its enterprises improve marketing strategies and local consumers become more mature, the latest BrandZ study by research agency Millward Brown finds.

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China cuts industrial output growth target

China has cut its target for industrial production growth this year to 8 per cent, a level in line with broad expectations that Beijing will tolerate slower economic expansion of about 7 per cent this year.

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Link Reit and Nan Fung team up for HK$10b Kwun Tong retail-office development

The Link Real Estate Investment Trust is to make its first foray into property development in a HK$10 billion joint venture retail-office development in Kwun Tong.

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Chart of the day: Dollar buyers beware

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Mainland China's imports of gold from Hong Kong slump in 2014

Mainland China's gold imports from Hong Kong fell nearly a third last year after record purchases in 2013.

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Apple supplier Foxconn to cut workers as revenue growth stalls

Taiwan's Foxconn Technology, the world's largest contract electronics manufacturer, will cut its massive workforce, the company said, as the Apple supplier faces declining revenue growth and rising wages on the mainland.

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Probe ordered into luxury banquet of police

Mainland officials feasted on a critically endangered giant salamander and turned violent when journalists photographed the luxury banquet, according ...



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(NBA) Davis' dunks aplenty lead Pelicans past 76ers

Anthony Davis had 32 points, 10 rebounds and four blocked shots as the New Orleans Pelicans stretched their season-long winning streak to four games w...



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Ericsson profits drop as North America demand slumps

Swedish telecoms giant Ericsson said Tuesday its net profit plunged by over a third in the fourth quarter, dragged down by falling demand in its key...



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Sony delays earnings after 'The Interview' cyberattack

Sony said Tuesday it has won permission to delay the release of its quarterly earnings report, after a cyberattack damaged the computer network at i...



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Ronny Tong moots a formula for political reform

Civic Party Lawmaker Ronny Tong Ka-wah says he'd accept the government's political reform package if Beijing honors the Basic Law and commits itself t...



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Indonesian military calls off AirAsia wreckage recovery

The Indonesian military on Tuesday called off efforts to recover the wreckage of an AirAsia plane that crashed into the Java Sea last month, after f...



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China levies consumption tax on batteries, paint

China announced on Tuesday that it will impose consumption tax on some types of batteries and paint to encourage environmental protection. A four-p...



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British economy grows by 2.6% in 2014, 0.5% in Q4: data

Britain's economy grew by 2.6 percent last year in the fastest annual pace since 2007, but slowed more sharply than expected in the fourth quarter, ...



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At least two arrested in 'anti-jihadist' raid in France: security source

At least two people were arrested during a anti-jihadist operation in southern France that was still ongoing early Tuesday, a security source said. ...



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Taipei mayor apologizes to British minister over watch gaffe

The mayor of Taipei apologized to a visiting British minister Tuesday for joking he would send a watch she gave him for scrap -- compounding embarra...



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Public housing agencies blasted for lax monitoring

The Ombudsman, Connie Lau Yin-hing, has criticized the city's public housing agencies for failing to adequately monitor the eligibility of tenants in ...



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HKU Vice-Chancellor defends students' magazine

Hong Kong University Vice-Chancellor Peter Mathieson has defended the controversial Undergrad magazine, saying he respects the students' right to expr...



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Hong Kong sees a spike in cyber bullying cases

The number of cyber bullying cases is increasing in Hong Kong and the Office of the Privacy Commissioner is calling for a multi-pronged approach to th...



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Thousands to undergo screening for heart ailment

The Chinese University will launch a large-scale programme to screen 25,000 elderly people for abnormal heart rhythm. This comes after a previous s...



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More Hongkongers fall for 'naked chat' blackmails

The police have reported an increasing number of "naked chat" blackmailing cases in Hong Kong. Cases of blackmail rose more than 20 per cent year o...



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European stocks slip at open

European stock markets dipped in opening trade on Tuesday, before key British fourth-quarter economic growth data, and as investors digested the Gre...



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Hang Seng ends lower

Hong Kong shares fell 0.41 percent Tuesday, snapping a five-day winning streak and tracking losses in Shanghai despite a positive lead from Wall Str...



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Siemens confirms 2015 outlook, Q1 in line with expectations

German engineering giant Siemens said Tuesday it is sticking to it full-year outlook after business in the first quarter was in line with expectatio...



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JD.com taps international suppliers for broad imported food initiative

JD.com, the largest online direct sales company in China, is looking to expand the selection of imported foods and beverages sold to its 50 million mainland customers under its first major promotion with six countries.

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Competing ideas

Since 1980, the world has experienced the highest rate of growth in real GDP per capita in human history. This has coincided with the global economy becoming more open, free and integrated, and with poverty rates declining significantly.

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Nikkei finishes higher

Tokyo stocks closed 1.72 percent higher Tuesday thanks to a weak yen, while also tracking a rise in New York and Europe on hopes Greece's new anti-a...



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Huawei aims to up smartphone shipments to 100 million in 2015, boost international sales

Huawei Technologies aims to increase smartphone shipments to 100 million units in 2015, compared with 75 million last year, and will boost smartphone sales from international markets to more than 60 per cent this year from 52 per cent in 2014, the company said in a statem

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New York shuts down as winter storm blasts US

A major storm forced New York to impose driving bans and halt public transport late Monday, as snowfall pounded the northeastern United States affec...



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Hang Seng down at midday

Hong Kong shares ended the morning session 0.80 percent lower Tuesday as profit-taking after a five-day rally overshadowed a positive lead from Wall...



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Carnival, China Merchants sets up cruise shipping joint venture

Miami-based Carnival, the world’s biggest cruise line, today signed a memorandum of understanding (MOU) with state-owned China Merchants in Shekou, Shenzhen to explore the possibility for two joint ventures.

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(NBA) Kobe faces season-ending surgery

Kobe Bryant's NBA season could be over after the guard agreed to have surgery on a torn rotator cuff in his right shoulder. The five-time league champ...



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ATV has got a de facto extension: Mok

IT sector lawmaker, Charles Mok, says the government has already given ATV a de facto extension of its free-to-air TV license, which is due to expire ...



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Hong Kong teens held in Macau drug bust

A teenage couple from Hong Kong has been arrested in Macau on suspicion of drug trafficking. The city's police seized around HK$70,000 worth of coc...



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Inquiry begins into Russian ex-spy's radiation death

The most sensational spy tale since the Cold War lands in a London court on Tuesday as an inquiry begins to examine alleged Russian state involvemen...



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Dentons, Dacheng sign merger to create world’s biggest law firm

Top 10 global law firm Dentons signed a merger today with leading Chinese firm Dacheng, creating the world’s largest law firm, the second foreign and Chinese law firm merger in the past three years.

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Mongol hangs himself in China protest: group

A Mongol herder hanged himself from the gate of a Chinese government building in protest at land seizures in the latest instance of unrest in Inner ...



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ATV crisis causing concern: CE

Chief Executive Leung Chun-ying said the government is very concerned about the operation of ATV, including its cash flow problem that has resulted in...



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Canada's first bird flu victim flew from Hong Kong

A Vancouver area resident, who returned to Canada on an Air Canada flight from Hong Kong, has tested positive for the H7N9 avian flu. It is the fir...



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Nikkei jumps by break

Tokyo stocks were up 1.44 percent Tuesday morning, tracking a rise on US and European markets despite worries over the victory of anti-austerity par...



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China sells 284 subway cars to Boston

China CNR Corporation Limited, a leading manufacturer of locomotives in China, announced a subway export contract with the United States on Monday. I...



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US woman drowns puppy in toilet to get on plane: report

A Florida woman allegedly drowned a two-week-old Doberman in a US airport toilet because she wasn't allowed to board a flight with the puppy, media ...



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Blizzard strikes US northeast

A winter storm pounded the northeastern United States on Monday hitting tens of millions of people and forcing the rare cancellation of Broadway sho...



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Microsoft profit dips as revenue rises

Microsoft on Monday reported that its quarterly profit dipped but revenue increased in a sign that it is adapting to lifestyles centered on mobile d...



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Alibaba unit signs partnership in medical technology with Chinese software firm

An Alibaba Group-owned health company has announced a three-year strategic partnership with medical technology firm Shanghai Kingsoft Winning Software to collaborate on providing “cloud” medical services, drug tracking and electronic prescriptions, and medical payment pla

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China's financing curbs raise credit crunch fears

Mainland companies and local governments are facing a cash crunch as regulators tighten their grip on off-balance-sheet financing channels.

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China needs jobs for graduates and to ensure merit outweighs connections

The rich are different from you and me. This could explain why authorities are worried that if a proposed cross-border sailing scheme between Guangdong and Hong Kong is launched, private yacht owners will make a sideline of smuggling stuff, even pregnant women.

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Hactl upbeat after 8.7pc boost in cargo handling for 2014

Hong Kong Air Cargo Terminals (Hactl), the biggest independent air cargo handler at Hong Kong International Airport, handled 8.7 per cent more goods last year and chief executive Mark Whitehead is optimistic about this year's prospects.

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Japanese export surge boosts hopes for economic recovery

Japan's exports grew the most in a year in December, helped by a weak yen and a pick-up in overseas demand led by the United States, an encouraging sign for the recession-hit economy even as doubts persist about the strength of global consumption.

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NTT becomes first domestic sponsor of 2020 Tokyo Olympics

Tokyo Olympic organizers have signed up Nippon Telegraph and Telephone Corporation as the first domestic sponsor of the 2020 Games. NTT, which prov...



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Top Indonesian anti-graft official resigns amid row with police

A top Indonesian anti-corruption official tendered his resignation Monday after being arrested and warned of a campaign to "destroy'' the country's ...



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Germany warns of false hopes from Greek poll

German commentators and business leaders warned Greeks on Monday that their creditors would not allow radical leftwing party Syriza's electoral triump...



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Hong Kong media 'manipulated' by officials: report

A report by the International Federation of Journalists warned Monday of "intervention behind the scenes'' of Hong Kong's media as fears grow over pr...



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Spain growth could hit 2.5 % in 2015: minister

Spain's recovering economy could grow as much as 2.5 percent this year if oil prices and the euro stay low, the economy minister said in an intervie...



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Rally organizers say police demands 'unreasonable'

A former member of the Independent Police Complaints Council, Eric Cheung Tat-ming, said it is unreasonable for the police to demand marshals at this ...



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Exchange Fund reports fourth-worst result on foreign exchange losses and poor stock returns

The Exchange Fund reported its fourth-worst earnings result last year, a gain of just HK$43.6 billion, as a result of heavy foreign exchange losses and poor returns from Hong Kong and overseas stock investments, Monetary Authority chief executive Norman Chan Tak-lam said

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German business confidence hits six-month high in January: Ifo

German business confidence rose to its highest level in six months in January, as the outlook for Europe's biggest economy continues to brighten, th...



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Police seize arms cache after raids on triads

Detectives have broken up several triad gangs in two major undercover operations in Kowloon and the New Territories. Officers said they also raided...



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Greek stocks open down 2 percent after Syriza victory

The Greek stock market opened down 2.04 percent on Monday after anti-austerity party Syriza swept to victory in the general election. Stock markets a...



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Former Hebei party official expelled from CPC

Liang Bin, a former senior official in Hebei Province, has been expelled from the Communist Party of China (CPC) and dismissed from public office foll...



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Finance services sees a 'talent gap'

The Financial Services Development Council said that there's a need to strengthen training for both fresh university graduates and professionals in th...



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Expert pleads against artificial beach plan

The government has been urged to reconsider a plan to develop an artificial beach at Lung Mei near Tai Po. Experts say the recent blue glow coming ...



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European stocks open lower on Greek election result

European stock markets slid in opening trade on Monday after an anti-austerity party won Greece's elections, throwing its international bailout into...



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Hang Seng ends higher

Hong Kong shares ended 0.24 percent higher Monday as a late rally reversed early losses prompted by the victory of an anti-austerity party in Greece's...



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Huawei shows frustration, Xiaomi elation

Two of China's most successful tech companies, Xiaomi and Huawei, took center stage in the microblogging realm over the past week, engaging in a rare direct war of words over their competing products in the nation's overheated smartphone market.

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IBM denies layoff rumors

New York-based technology giant IBM has denied rumors that it is going to cut 26 percent of its workforce. The firm said the rumors that over 100,000...



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Death penalty upheld for child trafficker

A court in south China's Guangxi Zhuang Autonomous Region on Monday confirmed and upheld the child trafficking conviction and death sentence of a man ...



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Court hears 'first gay workplace discrimination lawsuit'

A Chinese court has heard what is believed to be the country's first lawsuit over gay workplace discrimination, in a case that could have wide repercu...



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Anti-austerity Syriza storms to historic Greek victory

Greece awoke to a new era of defiant anti-austerity Monday after voters handed a decisive victory to radical left party Syriza, putting the country ...



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You can bank on knowing which master Hong Kong’s MPF watchdog serves

Watchdog moves to lessen MPF risks

SCMP headline, January 26

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Nikkei dips at close

Tokyo stocks closed 0.25 percent down on Monday after anti-austerity party Syriza swept to victory in Greece's weekend general election, raising fea...



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Job growth in Hong Kong financial services sector to rise 15 per cent

Job growth in Hong Kong’s highly paid financial services sector is set to jump 15 per cent in the next few years and foreigners will dominate the new hires, a new report from the government’s Financial Services Development Council (FSDC) concludes.

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30 Philippine police feared dead after clash with rebels

Thirty police commandos were feared dead after Philippine security forces clashed with Muslim rebels in the south, in rare violence that tested a ne...



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HK$70,000 working mother allowance urged

Accounting firm KPMG has called on the government to introduce a working mother allowance of HK$70,000 a year. This is one of a series of proposal ...



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Rita Fan rejects Albert Chan's remarks

Joining the government isn't the only way a pan-democrat can prove they 'love Hong Kong and love the country', and get Beijing's blessing to become Ch...



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Hang Lung Properties in Hong Kong core profit up 98 per cent, revenue jumps 293 per cent

Hang Lung Properties saw its core profit increase 98 per cent to HK$10.02 billion last year, driven by a sharp increase in property sales.

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Marathon runner dead

The 24-year-old marathon runner died this morning after he fainted and had to be resuscitated by medical staff, are in critical condition. Ng Cheuk-y...



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Cross-Strait economic talks scheduled for Jan. 29

The seventh regular meeting of the Cross-Strait Economic Cooperation Committee (ECC) will be held on Jan. 29 in Taipei, the Chinese mainland's Associa...



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Hang Seng dips by break

Hong Kong stocks slipped 0.12 percent in the morning session Monday on concerns Greece could exit the eurozone after an anti-austerity party swept t...



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Spain's anti-austerity Podemos hails Greek ally Syriza

The leader of Spain's anti-austerity party on Sunday hailed a clear election victory by its Greek radical left-wing ally Syriza, saying it would fre...



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(NBA) Wizards defeat Nuggets in extra period

John Wall scored six of his 19 points in overtime and had 16 assists as the Washington Wizards beat the Denver Nuggets 117-115. Kris Humphries had ...



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Miss Colombia crowned Miss Universe

Miss Colombia Paulina Vega has been crowned Miss Universe, beating out contestants from 87 other countries. Miss USA Nia Sanchez and Miss Ukraine D...



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Malaysia Air site hacked by group claiming support for IS

The website of embattled Malaysia Airlines has been hacked by a group proclaiming support for Islamic State group. The airline's site was changed o...



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(NBA) Clippers rout Suns

Blake Griffin and Chris Paul scored 23 points each as the Los Angeles Clippers used a 15-0 fourth-quarter run to beat the Phoenix Suns 120-100. J.J...



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(NBA) Indiana defeat Orlando, end skid

David West scored 20 points and reserve Damjan Rudez added a career-high 18 as the Indiana Pacers ended a seven-game losing streak with a 106-99 win o...



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(NBA) Heat beats Bulls behind Whiteside's triple-double

Hassan Whiteside had an unconventional triple-double with a team-record and career-high 12 blocks to go with 14 points and 13 rebounds to help the Mia...



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(NBA) James leads Cavs past Thunder

LeBron James scored 34 points, including the first eight in the fourth quarter, as the Cleveland Cavaliers beat the Oklahoma City Thunder 108-98 for t...



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(NBA) Hawks extend franchise record win streak

Paul Millsap tallied 20 points and six assists as the Atlanta Hawks won their 16th straight game with a 112-100 victory over the Minnesota Timberwol...



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'Birdman' soars to victory in Oscars bellwether

Dark comedy "Birdman'' boosted its Oscars hopes Sunday after landing the top prize at the 21st Screen Actors Guild Awards, a barometer of likely suc...



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Nikkei down by midday

Tokyo stocks fell 0.62 percent on Monday after anti-austerity party Syriza swept to victory in Greece's general elections at the weekend, raising fe...



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Japan trade deficit swells to record in 2014

Japan's trade deficit swelled to a record US$109 billion in 2014, data showed Monday, mostly because of huge post-Fukushima energy bills, but analys...



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Stanchart shares tumble on reports CEO to be replaced by end of the year

Standard Chartered’s share price tumbled 2.3 per cent in morning trading on Monday to HK$108.7 after UK media reported that the bank was seeking to replace chief executive Peter Sands by the end of the year.

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China’s Medisun enters into partnership deal with Mayo Clinic in United States

US hospital Mayo Clinic has entered into a partnership agreement with Chinese healthcare firm Medisun Holdings to collaborate on patient services and regenerative treatment research, a statement posted Monday morning to the stock exchange said.

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Investment banks taking aim at growing ranks of super rich

The growing ranks of the super rich and their increased appetite for risk have caught the eye of investment bankers.

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Jack Ma’s money pledge alone may not be enough to lure Taiwan start-ups to mainland China

Taiwanese are looking with cautious interest at a proposal by billionaire Jack Ma, chairman of e-commerce giant Alibaba Group, to offer financial aid for the island’s young people to start businesses on the mainland.

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The smart money now seeking pre-IPO investments in tech start-ups

Lean technology start-ups – without the baggage of labour-intensive production lines – have become the favoured target of investment firms seeking to buy their way into a growth trajectory that captures wealth well before a public listing.

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FXCM sees record trading volume after near-fatal Swiss franc shock

FXCM, the currency brokerage that almost failed last week, is on pace to set a record for trading volume and plans to sell non-core assets to start paying back its US$300 million bailout from Leucadia National Corp.

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US oil glut grows as refinery closures cut demand

Oil supplies in the United States surged the most last week since 2001, the latest data shows, as refineries shut units, reducing demand, while production hovers near a three-decade high.

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Top hedge fund sees China's stocks on hold in first half

One of China's top performing hedge funds says investors will have to wait until the middle of this year before the country's equities resume their world-beating rally.

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Director share dealings drop sharply in Hong Kong as buybacks stay steady

Directors' share dealings in Hong Kong fell sharply last week, with total trades down by a third and their value down more than 60 per cent.

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Beijing's cut-price oil binge stretches storage tank capacity to limit

Beijing's bid to capitalise on a collapse in oil prices to fill up its petroleum reserves has put storage capacity at full stretch, leaving millions of barrels at sea on board at least a dozen supertankers and raising uncertainty about the pace of imports in coming months

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Smart money now seeking pre-IPO investments in tech start-ups

Lean technology start-ups - without the baggage of labour-intensive production lines - have become the favoured target of investment firms seeking to buy their way into a growth trajectory that captures wealth well before a public listing.

via South China Morning Post - Business feed http://ift.tt/1B8ThmU

Loans to leasing firms stoke bad debt risks at mainland banks

Chinese banks scrambling to meet capital adequacy rules have stepped up lending to financial leasing companies in the past year as they move away from traditional corporate loans that require them to set aside more funds as provisions.

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Incentives case grips Singapore property market

Perks used by property firms in Singapore to entice buyers of luxury flats are under scrutiny after a bank sued a developer for allegedly conspiring with borrowers to inflate about S$182 million of home loans.

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MPF regulator in 'advanced' talks with pension chiefs to stop fund rip-offs

An overhaul of the Mandatory Provident Fund (MPF) scheme is being readied in a bid to stop 600,000 of the city's most passive pension savers being pushed into some of the most high-risk, high-cost investment schemes in the market.

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Confusion abounds over China's emerging credit reporting industry

If all goes as planned this year, China Chengxin Credit Information, known as CCX, should become one of the first private companies in the country to receive a licence for personal credit reporting, an industry still closely guarded by the state.

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Row over fees gives glimpse into Beijing-backed takeovers

An arbitration over fees paid between Sinopec Group and its agent on its 2005 bid for a major Kazakhstan oil asset that ended up being bought by fellow state-owned China National Petroleum Corp (CNPC) has provided rare details about Beijing's intervention in state firms' overseas acquisitions.

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Offshore bond sales by Chinese developers stall as default fears rise

Offshore bond sales by mainland property developers have stalled in January as rising investor fears of a flurry of debt defaults have junked one of the usually busiest months of the year for real estate issuance.

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Chart of the day: Oversold euro could soon find its feet

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