Standard Chartered Renminbi Globalisation Index (RGI), a measure of the Chinese currency's advancement of internationalization, went up by 1.2% to 2,048 points in November over a month earlier, mainly driven by increasing levels of cross-border RMB payment, according to an emailed company announcement. RMB payments accounted for 22% of all traded goods in November, of […]

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Fosun Industrial Holdings Ltd., a wholly owned subsidiary of Fosun International, has subscribed convertible bonds valued at US$15 million issued by Hong Kong-listed solar power plant investor and operator United Photovoltaics Group Limited, according to a company announcement. The announcement came after an investment fund under Ping An Insurance (Group) Company of China said last […]

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China’s National Development and Reform Commission (NDRC) announced this morning that China will accelerate investment in seven key strategic sectors. Media reported that the overall investment plan will exceed RMB10 trillion, and RMB7 trillion projects will kick off this year. The seven sectors include oil and gas, healthcare, environmental protection, clean energy, food, transportation, information […]

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The decision by the US to reestablish diplomatic relations with Cuba opens the possibility that the island will rejoin the International Monetary Fund, which it left in 1964. But will Cuba apply, and can the US circumvent its own law barring Cuba's adm…

Hangzhou, Zhejiang province-based Chinese taxi and private car hailing app maker Kuaidi Dache has completed US$800 million series D financing, according to unverified Chinese media reports. Representatives of Kuaidi Dache did not respond to inquiries to confirm the news. Alibaba Group Holdings, New York-based investment firm Tiger Global Management LLC, and two unnamed investment funds […]

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The Chinese market in 2015 is likely to be choppy, as President Xi Jinping's "New Normal" means lower growth, combined with high and rising leverage, this could prove lethal to the financial system, says a research report by BofA Merrill Lynch Global Research. Even without factoring in a credit crunch, the bank forecasts Hang Seng […]

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Last year was characterized by the continued rise of “soft” instruments to address global challenges: decrees, self-regulation, joint plans of action, and handshake deals. While this approach makes it easier to reach agreement, its lack of regard for strong compliance mechanisms makes it inadequate to confront the world's toughest problems.

The dissolution of Israel’s parliament, the Knesset, marks a surprising turnabout. Indeed, when Israelis vote again in March, more than two years ahead of schedule, Prime Minister Binyamin Netanyahu could be voted out of office, with important implications not only for Israel, but also for the wider Middle East.

Rajapaksa’s expected victory in the polls is now uncertain in the face of a resurgent opposition

Kingfisher Group plans to sell the controlling stake in B&Q China to Wumart, a Chinese supermarket retail chain. Under the official agreement signed between Wumart Group and Kingfisher Group, Wumart will invest CNY1.4 billion to acquire a 70% stake in B&Q China; while Kingfisher Group will retain a 30% stake in the joint venture. After […]