Luckin faces penalties as Chinese regulators step in
The Chinese Ministry of Finance and two other national regulators have concluded their investigations into fraud at Luckin Coffee. They will now impose administrative penalties.
The Chinese Ministry of Finance and two other national regulators have concluded their investigations into fraud at Luckin Coffee. They will now impose administrative penalties.
In this round-up, Chinese financial institutions are given another year to comply with new asset management rules due to the Covid-19 pandemic, Luckin Coffee will be punished by the Ministry of Finance for inflating its
China Grand Pharmaceutical and Healthcare Holdings has tapped the equity capital market for HK$1.01bn ($130.9m), boosting its share price over 20% as a result.
Chinese state-owned commodities trader Tewoo Group Co, which has been under financial pressure for more than a year, is facing a possible restructuring.
Shriram Transport Finance Co has scooped up Rp14.9bn ($199m) from a rights issue in India.
Social and sustainability bonds have blossomed in Asia amid the Covid-19 pandemic, with debt bankers expecting more supply from the asset class for the rest of the year.
The Australian Treasury has unveiled its funding plans for its new 2020-21 fiscal year, funding its coronavirus response via a record number of syndications and an extension of its curve out to 2051.
In this round-up, local governments are encouraged to use debt raised to improve smaller lenders’ capital ratio, the Bond Connect scheme launched three years ago helps foreign holding in Chinese bonds to top Rmb2.6tr, and
Country Garden has launched a $1.5bn-equivalent loan into general syndication after mandating a group of nine banks.
Lu Zhengyao will remain chairman of Chinese chain Luckin Coffee after a vote to remove him went in his favour.
Philippine conglomerate JG Summit Holdings managed to tackle investor questions and scrutiny into the impact of Covid-19 on its business to make a rare bond market outing for $600m.
In this round-up, China joins a 12-country initiative to ensure supply chain connectivity, India has banned 59 Chinese apps including WeChat for being ‘prejudicial’ to its sovereignty and integrity, and tensions between China and the
China’s leading detergent maker Blue Moon Group Holdings is planning to float in Hong Kong for around $1bn, according to a source close to the deal.
Tianjin Great Wall Binyin Automotive Finance is gearing up for a new Rmb3.37bn ($477m) auto loan ABS in China. For the first time, the issuer has obtained an international rating for its deal.
Powerlong Real Estate Holdings has raised a new offshore borrowing of $120m-equivalent, just two months after closing a $200m loan.
In the week ending March 6th 2020, a report from HFR said that Hedge funds investing in Emerging Markets and developed Asian regions began 2020 with a surge in realized asset volatility driven by the
So far, 80% of the association's members have signed up to the 30-point diversity charter
The firm bought a majority stake in the French business in 2017 at an enterprise value of roughly €1bn
The Gunnery was a World War II gun emplacement
Japan's recent experience with Typhoon Hagibis shows governments must spend quickly and decisively on disaster relief — and ignore fears about debt
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