Economy of Asia

Richard Yuan, Chairman of Australia China Entrepreneurs Club, discusses RCEP and Global Trade

Free trade agreements, International trade, Business, Trade blocs, Free trade areas, ASEAN, Asia-Pacific, Economy of Asia, Regional Comprehensive Economic Partnership, Comprehensive and Progressive Agreement for Trans-Pacific Partnership, China, Entrepreneurship
Wednesday, January 13, 2021 - 5:00pm

SYDNEY, Jan 14, 2021 - (ACN Newswire) - Richard Yuan, chairman of Australia China Entrepreneurs Club, discussed RCEP and its impact on global trade in a recent interview.

Key Points: 
  • SYDNEY, Jan 14, 2021 - (ACN Newswire) - Richard Yuan, chairman of Australia China Entrepreneurs Club, discussed RCEP and its impact on global trade in a recent interview.
  • RCEP can connect approximately 30% of the world's population and development and generate substantial income in the right political context.
  • And, it can raise world income by US$209 billion and global trade by US$500 billion annually by 2030 according to Richard Yuan, a Chinese national living and working in Australia who is Chairman of the Australia China Entrepreneurs Club and International Ambassador of the SME Association of Australia.
  • People can estimate that the total losses in the trade war between the US and China are covered, not for China or the United States, by the RCEP and CPTPP together.

Melco Resorts Finance Announces Proposed 5.375% Senior Notes Offering

Melco Resorts & Entertainment, Companies, Melco, Indenture, Companhia de Electricidade de Macau, Economy of Asia, Economy of China, Melco International Development
Wednesday, January 13, 2021 - 12:27pm

MACAU, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Melco Resorts Finance Limited (Melco Resorts Finance) announces that it proposes to conduct an international offering of 5.375% senior notes due 2029 (the Additional Notes), the net proceeds from which, together with cash on hand if applicable, will be used for repayment of the principal amount drawn under the revolving credit facility under the senior facilities agreement entered into by MCO Nominee One Limited, a subsidiary of Melco Resorts Finance, on April 29, 2020, together with accrued interest and associated costs, and any remaining balance for general corporate purposes.

Key Points: 
  • MACAU, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Melco Resorts Finance Limited (Melco Resorts Finance) announces that it proposes to conduct an international offering of 5.375% senior notes due 2029 (the Additional Notes), the net proceeds from which, together with cash on hand if applicable, will be used for repayment of the principal amount drawn under the revolving credit facility under the senior facilities agreement entered into by MCO Nominee One Limited, a subsidiary of Melco Resorts Finance, on April 29, 2020, together with accrued interest and associated costs, and any remaining balance for general corporate purposes.
  • Melco Resorts Finance is a wholly-owned subsidiary of Melco Resorts & Entertainment Limited (Melco).
  • The proposed Additional Notes will be issued under the indenture, dated December 4, 2019 (the Indenture), pursuant to which Melco Resorts Finance issued US$900 million aggregate principal amount of 5.375% senior notes due 2029 (the Original Notes).
  • Melco Resorts Finance does not intend to register any portion of the offering of the proposed Additional Notes in the United States.

RADA Announces its Plans to Dual-List its Ordinary Shares on the Tel Aviv Stock Exchange

RADA Electronic Industries, Tel Aviv Stock Exchange, Tase, Economy of the Middle East, Companies, Economy of Asia
Monday, January 11, 2021 - 9:45pm

NETANYA, Israel, Jan. 11, 2021 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ: RADA) announced today that its Board of Directors has approved the submission of a listing application to have its ordinary shares dual-listed on the Tel Aviv Stock Exchange (TASE).

Key Points: 
  • NETANYA, Israel, Jan. 11, 2021 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ: RADA) announced today that its Board of Directors has approved the submission of a listing application to have its ordinary shares dual-listed on the Tel Aviv Stock Exchange (TASE).
  • For Israeli investors, we believe that the TASE dual-listing will provide them with an attractive investment and growth opportunity in RADA.
  • About RADA Electronic Industries Ltd.
    RADA is a global defense technology company focused on proprietary radar solutions and legacy avionics systems.
  • The Company is a leader in mini-tactical radars, serving attractive, high-growth markets, including active military protection, counter-UAS, critical infrastructure protection and border surveillance.

Ascentage Pharma Officially Included in Shenzhen-Hong Kong Stock Connect Program

Pearl River Delta, Economy of Hong Kong, Shenzhen Stock Exchange, Stock Connect, Economy of Asia, Hong Kong Stock Exchange, Hong Kong, Economy of China, Shenzhen, Geography of China
Wednesday, December 30, 2020 - 10:18am

SUZHOU,ChinaandROCKVILLE, Md., Dec. 30, 2020 /PRNewswire/ -- Ascentage Pharma (6855.HK), a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, chronic hepatitis B (CHB), and age-related diseases, today announced that the company was officially included into the Shenzhen-Hong Kong Stock Connect program(the "Hong Kong Stock Connect").

Key Points: 
  • SUZHOU,ChinaandROCKVILLE, Md., Dec. 30, 2020 /PRNewswire/ -- Ascentage Pharma (6855.HK), a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, chronic hepatitis B (CHB), and age-related diseases, today announced that the company was officially included into the Shenzhen-Hong Kong Stock Connect program(the "Hong Kong Stock Connect").
  • The Hong Kong Stock Connect is a collaboration program between the Hong Kong, Shanghai and Shenzhen Stock Exchanges.
  • In this adjustment, a total of six eligible pre-revenue biotech companies will be the first included in the Hong Kong Stock Connect.
  • OnOctober 28, 2019, Ascentage Pharma was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 6855.HK.

The Tel-Aviv Stock Exchange Launches the TA-Cannabis Index

Tel Aviv Stock Exchange, Economy of the Middle East, Tase, Tel Aviv, Cannabis, Economy of Asia, TA BlueTech Index, TA-125 Index
Monday, December 28, 2020 - 12:00pm

TEL AVIV, Israel, Dec. 28, 2020 /PRNewswire/ -- The Tel-Aviv Stock Exchange (TASE: TASE) announced today the launch of a new index that will comprise shares of companies included the Cannabis Subsector, under the Biomed Sector.

Key Points: 
  • TEL AVIV, Israel, Dec. 28, 2020 /PRNewswire/ -- The Tel-Aviv Stock Exchange (TASE: TASE) announced today the launch of a new index that will comprise shares of companies included the Cannabis Subsector, under the Biomed Sector.
  • The Israeli medical cannabis industry has evolved in recent years and, while not yet mature, has gained rapport in the capital market.
  • The majority of shares in the Cannabis Subsector are included in the TA-Growth Index and only one is included in the TA-SME60 Index.
  • The TA-Cannabis Index will include the shares of companies that TASE has classified to the Cannabis Subsector, with a weight cap of 15% for shares included in the index.

transcosmos China exceeds 2.9B yuan (about 46B yen) e-commerce GMV during China's Double Eleven Shopping Festival

Alibaba Group, Currency, Tmall, Economy of Asia, Yuan, Japanese yen, Chinese culture
Friday, December 25, 2020 - 8:05am

The first Double Eleven - a mega national shopping event in China - after the novel coronavirus outbreak showcased China's strong consumer appetite and its potential.

Key Points: 
  • The first Double Eleven - a mega national shopping event in China - after the novel coronavirus outbreak showcased China's strong consumer appetite and its potential.
  • During Double Eleven, TMALL achieved GMV of 498.2 billion yuan (about 7,931.3 billion yen, converting 1 yuan to 15.92 yen), whilst JD reaching GMV of 271.5 billion yuan (about 4,322.2 billion yen, converting 1 yuan to 15.92 yen).
  • And, transcosmos China provided its services to nine brands that were ranked in the TMALL "1 billion yuan club" (brands with 1 billion yuan sales or higher during Double Eleven).
  • TMALL "BANDAI official flagship store" which transcosmos China operates, has renewed its record GMV again during Double Eleven 2020.

Partner Communications Announces Receiving A Lawsuit And A Motion For The Recognition Of This Lawsuit As A Class Action

Partner Communications Company, Tel Aviv Stock Exchange, Tase, Economy of the Middle East, Stock exchanges, Economy of Asia
Tuesday, December 22, 2020 - 8:11pm

The total amount claimed against the Respondents, in case the Motion is accepted was not stated by the applicant (but was stated as estimated at over NIS 2.5 million).

Key Points: 
  • The total amount claimed against the Respondents, in case the Motion is accepted was not stated by the applicant (but was stated as estimated at over NIS 2.5 million).
  • Partner is reviewing the Motion and is unable at this preliminary stage, to evaluate, with any degree of certainty, the probability of success of the lawsuit or the range of potential exposure, if any.
  • Partner Communications Company Ltd. ("Partner") is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services).
  • Partner's ADSs are quoted on the NASDAQ Global Select Market and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).

Welcome to the Tel Aviv Stock Exchange: Group 11, the Venture Capital Fund of Investor Dovi Frances and the Start-Up Company, Veev Are the First to Join TASE UP

Tel Aviv Stock Exchange, Tase, Tel Aviv, Economy of the Middle East, Economy of Asia
Tuesday, December 22, 2020 - 12:15pm

TEL AVIV, Israel, Dec. 22, 2020 /PRNewswire/ -- Today (Tuesday) the Tel Aviv Stock Exchange announces (TASE: TASE) TASE UP's first two listings - venture capital fund, Group 11 and start-up company, Veev.

Key Points: 
  • TEL AVIV, Israel, Dec. 22, 2020 /PRNewswire/ -- Today (Tuesday) the Tel Aviv Stock Exchange announces (TASE: TASE) TASE UP's first two listings - venture capital fund, Group 11 and start-up company, Veev.
  • Veev has offices in San Francisco and Tel Aviv, with 280 employees 218 in the United States and 62 employees in Israel.
  • Group 11 is a Silicon Valley based venture capital fund that invests in revolutionary technology companies from the financial services industry.
  • CEO of TASE, Ittai Ben-Zeev, said today: "We thank Group 11 and Veev for their confidence in us and are delighted to welcome them into TASE UP.

TASE's 2020 Summary - More High-Tech, More Trading, More Investors

Tel Aviv Stock Exchange, Economy of the Middle East, Tase, Economy of Asia
Tuesday, December 22, 2020 - 12:10pm

At the press conference marking the end of 2020, Ittai Ben Zeev, CEO of TASE (TASE: TASE), today (Tuesday) summarized the past year's activities.

Key Points: 
  • At the press conference marking the end of 2020, Ittai Ben Zeev, CEO of TASE (TASE: TASE), today (Tuesday) summarized the past year's activities.
  • Another indication of the growing weight of the technology sector is the 6 high-tech companies that joined the TA-35 flagship index.
  • Capital raising on the equities market amounted to NIS 16.3 billion in 2020, compared to NIS 13.3 raised in 2019.
  • Total public offerings amounted to NIS 12 billion in 2020, an increase of 45% over the previous year.

Masdar and PT PJBI form joint venture to drive development of Indonesia's first floating solar power plant

Masdar, Cirata Dam, Dams, Economy of Asia, Cities in the United Arab Emirates
Thursday, December 17, 2020 - 11:20am

Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), was formally announced at a ceremony at the Cirata reservoir in West Java, where the project will be located.

Key Points: 
  • Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), was formally announced at a ceremony at the Cirata reservoir in West Java, where the project will be located.
  • The Cirata project marks the UAE's first investment in Indonesia's renewable energy sector, and will contribute to the nation's sustainable development."
  • "The creation of this joint venture company, PMSE, will enable us to continue the exceptional progress we have made on the Cirata Floating Photovoltaic Power Plant with our development partner PT PJBI," said Mohamed Jameel Al Ramahi, CEO of Masdar.
  • Through our joint venture company PJBI with Masdar, we commit to contribute to the development of new renewable energy power plants.