For the last 15 years, major Latin American countries have largely ignored the crisis in Venezuela, refusing to condemn or support its leadership's incompetence and abuses. Now that President Barack Obama has decided to classify Venezuela formally as a “national security threat” to the US, this is about to change.

Beijing-based bicycle portal 700Bike has completed US$15 million series A financing from Banyan Capital, China Growth Capital and IDG Capital Partners, according to an announcement posted on the company's Weibo account. The company says it also secured RMB300 million ($48 million) in loans commitments to use for its supply chain expenses. 700Bike was founded in […]

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Shifting currencies and culture benefit Japan, S Korea and Russia

Citi has appointed Catherine Cai as managing director, chairman and head of China investment banking, reporting to Mark Slaughter, head of corporate and investment banking for Citi in Asia Pacific, according to a company announcement. Catherine will oversee Citi’s China investment banking team, and continue the strong partnership between China investment banking and industry coverage, […]

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China's currency is likely to enter into the IMF's Special Drawing Right (SDR) scheme this year, and could have the potential weighting of approximately 13%, above the British pound and Japanese Yen, which could make the RMB the seventh largest reserve currency in the world, says a research report by BofA Merrill Lynch Global Research. […]

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In 2010, Greece had no right to borrow from German – or any other European – taxpayers, because its public debt was unsustainable. Five years later, the consequences – open animosity toward and from Germany, a humanitarian crisis, and a mountain of unserviceable debt – could not be clearer.

Cap on prices delivers risk-free profits to lottery winners

Macau's gaming revenues is likely to decline 22% in 2015, due to Chinese government's anti-corruption crackdown, tighter credit availability, and the recently implemented smoking and visa restrictions, says a research report by Fitch Ratings. The rating agency cautions that there is some risk that the visa and smoking rules will become more restrictive, and that […]

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Weaker than expected earnings an ominous sign for other large lenders

Dairy Farm International Holdings Ltd. announced that its acquisition of 19.99% stake in Yonghui Supermarket officially obtained regulatory approvals in China. In August 2014, Dairy Farm International and Yonghui Supermarket signed an acquisition agreement, under which Dairy Farm International would purchase 813 million Yonghui shares at the price of CNY7 per share. With the acquisition, […]

Chinese B2B e-commerce platform Hc360.com has reached a purchase deal with Zol.com.cn, an information technology vertical portal website in China, worth CNY1.5 billion. The acquisition deal covers several assets, including Zol.com.cn, Zol.com, and Ea3w.com. ZOL stands for Zhongguancun, which is the name for the area in Beijing rife with universities and technology companies. Zhongguancun is […]

China's Lenovo Group announced that they will appoint Gianfranco Lanci, current chief operating officer of Lenovo Group, as new president of the group, effective April 1, 2015. Meanwhile, Lanci will continue his role as chief operating officer. Lanci joined Lenovo Group in 2012 as executive vice president and COO, leading and expanding global PC business; […]

China’s president will face resistance if he fails to further readjust, writes Anne-Marie Brady