Hedge funds may drive initial demand of investing A shares through the Shanghai-Hong KongStock Connect, said market professionals. The stock link would immediately attract hedge funds whose access to mainland shares islimited, while overseas mutual funds and pension funds tend to be more cautious and wait beforemaking sure the program is in smooth operation, said Shang Wei, managing director of CITICSecurities international, to chinadaily.com.cn.
Updated 5 Years ago

Food producers from Liaozhong county in Liaoning province have reported a steep rise in ordersfrom Russia as a result of the yearlong ban on Western goods announced in August by Moscow. Russia has imposed the one-year embargo on meat, fish, dairy, fruit and vegetables from theEU, US, Canada, Australia and Norway in retaliation for Western sanctions over Russia's role inthe Ukraine crisis.
Updated 5 Years ago

Online career networking company LinkedIn Corp will be the much-needed catalyst that will speed up the development of China's professional social networking market, said analysts and insiders. With more and more Chinese users using online platforms for social networking and interactions with friends, it is only a matter of time before demand for professional social networking systems like LinkedIn also goes up rapidly, says a recent report published by the Beijing-based Internet consultancy Analysys International. Though the agency does not give any specific figures about the size of this particular market in China, it goes on to say that the market will see "skyrocketing growth" this year.
Updated 5 Years ago

When it comes to analyzing Latin Americans' posts on Twitter, using only the hashtag to measure social sentiment leaves a lot of data out of the picture. That's according to Jorge Mujica, social sentiment project leader for IBM Latin America.
Updated 5 Years ago

Issues related to the oil industry are increasingly weighing on the risk of a potential sovereign debt default in Venezuela, which analysts have suggested is set to rise. The government paid around US$1.56bn to service its global 2014 bond on Wednesday, temporarily banishing investor concerns regarding a possible default.
Updated 5 Years ago

Peru's biggest undeveloped copper deposit Las Bambas will require capex of US$2.7bn-3.2bn to complete the project, with first concentrate production anticipated in 1Q16, said the mine's developer MMG, a unit of China Minmetals. "Major activity during the third quarter 2014 focused on the construction of the processing plant, primary crusher, overland conveyor and key surface infrastructure including tailings facilities, power lines, mine access and mine maintenance facilities," MMG said in a statement.
Updated 5 Years ago

Apple just released an insanely high-resolution screen with a computer inside of it. Here are the highlights of what you can do with the new iMac, according to Phil Schiller, the company's head of marketing: edit video and photos, read magazines ... um, look at the pretty app icons. "There has never been a display to show off that great new user interface as beautiful as this new Retina 5K display," Schiller says on stage at Apple's headquarters in Cupertino, California. "When you read text, it looks incredible, crisp and sharp, with magazine quality. If you work with photos, you'll have never worked on a desktop display with this level of detail."
Updated 5 Years ago

Athena Capital Research LLC used $40 million to rig prices of thousands of stocks including EBay Inc. (EBAY) for at least six months in 2009, U.S. regulators said today when fining the high-speed trading firm $1 million. Using a system dubbed “Gravy,” Athena manipulated shares of Nasdaq-listed stocks, undermining the exchange operator’s end-of-day procedures for reducing price volatility, according to the Securities and Exchange Commission. With “high-powered computers, complex algorithms and rapid-fire trades,” the New York-based firm tainted closing prices used by fund managers to track their performance, the SEC said.
Updated 5 Years ago

Virgin Australia Holdings Ltd. (VAH), the country’s second-ranked carrier, will buy the remainder of Tiger Airways Holdings Ltd.’s local unit for A$1 (88 cents). Virgin, which paid A$35 million for a 60 percent stake in the budget airline in 2013, said in a regulatory statement today that it would continue to operate the brand while slowing the growth of the loss-making unit’s fleet.
Updated 5 Years ago

Zimbabwe’s central bank is close to making key appointments to run a unit that will buy non-performing loans running as high as 90 percent at some lenders in the southern African country. “We have seconded a few people from the central bank to work on it and have secured offices for them,” Reserve Bank of Zimbabwe Deputy Governor Kupikile Mlambo said in an interview on Oct 9. “We need to set up the board and then we will appoint the CEO. It’s already operating. We want to remove the NPLs from the books of the banks.”
Updated 5 Years ago