Hong Kong Exchanges and Clearing (HKEX) has unveiled its biggest listing reforms since 2018, broadening its special listing regime for innovative companies and opening the door for smaller and more diverse firms to list in the city, the bourse operator said on Friday. HKEX proposed lowering the minimum threshold for companies to list under the weighted voting rights regime to a minimum valuation o...
Hong Kong Exchanges and Clearing (HKEX) has unveiled its biggest listing reforms since 2018, broadening its special listing regime for innovative companies and opening the door for smaller and more diverse firms to list in the city, the bourse operator said on Friday. HKEX proposed lowering the minimum threshold for companies to list under the weighted voting rights regime to a minimum valuation of HK$20 billion (US$2.6 billion), half the current requirement of at least HK$40 billion. It will also lower the minimum market capitalisation for companies that use the revenue route to apply for listing to HK$6 billion and revenues of HK$600 million in the latest financial year, compared with the current rule of HK$10 billion and HK$1 billion, respectively. Advertisement “These proposals build on the success of our 2018 listing reforms, which fundamentally reshaped the composition of Hong Kong’s stock market, fuelling a surge of innovative company listings,” said Katherine Ng, head of listings at HKEX, as she announced the consultation paper, which will collect views until May 8. “We welcome feedback on the proposals and look forward to continued engagement with stakeholders. Together, we can further strengthen Hong Kong’s position as the leading fundraising destination for growth companies and a premier market for global capital seeking opportunities in Asia.” Advertisement The new reforms were aimed at further strengthening Hong Kong’s attractiveness as a fundraising centre, as investors shift part of their US dollar assets to the region to diversify their risk profiles, brokers said.
Australia ’s decision to send a surveillance aircraft and air-to-air missiles to the Gulf highlights the difficult position the country now faces: supporting US and regional partners while trying to avoid being drawn deeper into the widening conflict Analysts said the government was “walking a very fine line” with the deployment, signalling support for partners under Iranian attacks while stopping...
Australia ’s decision to send a surveillance aircraft and air-to-air missiles to the Gulf highlights the difficult position the country now faces: supporting US and regional partners while trying to avoid being drawn deeper into the widening conflict Analysts said the government was “walking a very fine line” with the deployment, signalling support for partners under Iranian attacks while stopping short of committing Australia to offensive operations. At the same time, they said Canberra was reluctant to “anger” US President Donald Trump , given the importance of maintaining close defence ties with Washington, including the Aukus submarine partnership. Advertisement Prime Minister Anthony Albanese said on Tuesday that Canberra would provide support to help Gulf countries defend against escalating Iranian reprisals across the region. Iran ’s reprisal attacks continue to escalate, already at a scale and depth we haven’t seen before,” Albanese said at a news conference, adding that twelve countries across the region, from Cyprus through to the Gulf, were “continuing to be targeted”. Advertisement He said the Royal Australian Air Force would send an E-7A Wedgetail surveillance aircraft and supporting personnel to “protect and secure airspace above the Gulf” for the next four weeks and assist with the region’s “collective self-defence”.
Russian crude oil and fuel on about 30 tankers in Asian waters is potentially available for purchase after the US granted a temporary waiver to buy cargoes that were already at sea. The vessels are carrying at least 19 million barrels of Russian crude and 310,000 tons of refined products, according to ship-tracking data compiled by Bloomberg. The product is mainly naphtha — used to make plastics —...
Russian crude oil and fuel on about 30 tankers in Asian waters is potentially available for purchase after the US granted a temporary waiver to buy cargoes that were already at sea. The vessels are carrying at least 19 million barrels of Russian crude and 310,000 tons of refined products, according to ship-tracking data compiled by Bloomberg. The product is mainly naphtha — used to make plastics — and some diesel, prices of which have surged since Iran effectively closed the Strait of Hormuz. The crude is being carried on 25 vessels, with grades such as Sokol on ships near China. There’s also a number of tankers in the Arabian Sea that are mainly loaded with the medium-sour Urals blend. The ships are signaling “for orders” — meaning they have no clear destination yet — or indicating they are going to Singapore or Malaysia, where tankers often wait as the barrels are marketed, the data show. The US Treasury granted a month-long waiver to import Russian oil loaded before Thursday, widening a similar provision that had seen Indian refiners snap up the sanctioned crude. The US move comes as hundreds of vessels carrying crude and refined products such as diesel and jet fuel are stuck behind the Strait of Hormuz. Read More: Asian Energy Buyers Under Stress as Middle East War Drags On The US decision is “buying countries and refiners time to cope with the Mideast supply shock,” said Muyu Xu , senior crude analyst at Kpler Ltd. “Countries will buy whatever they can find — the priority is energy safety for all.” China has, along with India, been one of the few buyers of Russian crude and products — which were sold at a discount after the US sanctions that are meant to limit Moscow’s access to funds for the war in Ukraine. Other major markets, including Japan and South Korea, have avoided the Russian barrels.
BEIJING, March 13 (Reuters) - Volkswagen said on Friday it has begun mass production of its first model developed jointly with Chinese EV maker Xpeng, as the German carmaker targets a comeback in China with more than 20 new models to be launched this year. The ID. UNYX 08, a full-size electric SUV, is part of Volkswagen's biggest-ever new energy vehicle push in China, a key market where it is s...
BEIJING, March 13 (Reuters) - Volkswagen said on Friday it has begun mass production of its first model developed jointly with Chinese EV maker Xpeng, as the German carmaker targets a comeback in China with more than 20 new models to be launched this year. The ID. UNYX 08, a full-size electric SUV, is part of Volkswagen's biggest-ever new energy vehicle push in China, a key market where it is scrambling to compete with local competitors such as BYD and Geely. The new model - set to go on sale in the first half of this year - is emblematic of Volkswagen's revamped strategy in the world's biggest auto market, prioritising local development and quicker turnaround times. Volkswagen has previously said its new China-based architecture allows vehicles to be developed 30% faster. The company said it brought the ID. UNYX 08 to production in 24 months. "Our 'in China, for China' strategy is delivering results," said Ralf Brandstätter, Volkswagen Group board member for China. "With the ID. UNYX 08, we are launching the Group's largest electric vehicle offensive in China." Europe's largest carmaker faces another tough year, dominated by tariffs and its battle to win back China - its single largest market, where it has lost ground to local rivals who have been quicker to roll out software-rich, lower-cost electric cars. Volkswagen was overtaken by Geely Auto in China sales last year, dropping to third place after losing its decade-long dominance to BYD in 2024. Including the more than 20 battery-electric and plug-in hybrid vehicles set for launch in 2026, Volkswagen plans to bring a total of 50 new NEVs to market in China by 2030. The ID. UNYX 08 is the result of a 2023 technology partnership with Xpeng, which provides Volkswagen with autonomous driving systems and the Turing AI chips used in the new vehicle. A second jointly developed EV with Xpeng is set to be launched later this year. Both vehicles will be built at Volkswagen's Hefei plant, west of Shangha...