OVERSEAS REGULATORY ANNOUNCEMENT
Datang International Power Generation Co., Ltd. announces OVERSEAS REGULATORY ANNOUNCEMENT
For details, please visit: https://photos.prnasia.com/prnk/20200929/2931780-1
OVERSEAS REGULATORY ANNOUNCEMENT
Datang International Power Generation Co., Ltd. announces OVERSEAS REGULATORY ANNOUNCEMENT
For details, please visit: https://photos.prnasia.com/prnk/20200929/2931780-1
The 31-year-old South Africa-born player appeared to strike the head of Wales skipper Alun Wyn Jones with his forearm in the first half of France's 38-21 home victory. Referee Karl Dickson and other officials missed the incident but Le Roux now faces a disciplinary hearing on Tuesday. "Le Roux ... has been cited for an alleged act of foul play by the independent citing commissioner appointed by World Rugby," a Six Nations statement said.
Geoghegan Hart scored a surprise win in the Giro d’Italia after starting out aiming to support Geraint Thomas.
Hamilton passed Michael Schumacher’s record of 91 grand prix victories in Portugal on Sunday.
The Global Robotic Lawn Mower Market will grow by USD 436.16 mn during 2020-2024
Thailand's biggest opposition party called on Monday for Prime Minister Prayuth Chan-ocha to resign, as parliament opened a special session called by the former junta leader to discuss months of protests. Prayuth called the parliament session this week after the imposition of Oct. 15 emergency measures to end the demonstrations - including a ban on protests - only inflamed anger and brought tens of thousands onto Bangkok streets. "I’m confident that today, regardless of our different political views, everyone still loves the country," Prayuth said in his opening address.
“I think we have enough of an interview here," the president said.
"In the near-term, there seems to be a lack of impetus to find extra buyers (for gold)... A lot of it is because we're trading in the looming shadow of the U.S. elections and stimulus speculation," said IG Markets analyst Kyle Rodda. U.S. House Speaker Nancy Pelosi on Sunday said the Trump administration was reviewing the latest plan for more COVID-19 relief and that she expected a response on Monday. With the November presidential elections fast approaching, analysts say a victory for Democrat rival Joe Biden could help gold rally on the back of a potential large stimulus package.
Manuel Margot snuck a few steps down the line and took off toward home plate, trying to steal a run for Tampa Bay. A night after Tampa Bay's stunning ninth-inning victory, which ended with Randy Arozarena on his stomach and slapping home plate after scoring the winning run, Margot couldn’t get his hand there before getting tagged out by catcher Austin Barnes.
(Bloomberg) -- Ant Group Co. has set the price for its initial public offering in Shanghai, paving the way for a blockbuster sale that may give the Chinese fintech giant a valuation higher than JPMorgan Chase & Co.Billionaire founder Jack Ma, speaking at a weekend conference, said Ant has determined the IPO price, though he didn’t disclose the amount. Pricing details for the China shares are expected by Tuesday, with the Hong Kong price to be announced as soon as Oct. 29, people familiar with the matter have said.The stock sale by Ma’s finance giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019. Large investors have put in bids of about 68 to 69 yuan a share for the Shanghai stock, Reuters reported. That would value the China portion of the sale at as much as $17.3 billion, or close to $35 billion for the dual listing including the Hong Kong leg.“This was the first time such a big listing, the largest in human history, was priced outside New York City,” Ma told the Bund Summit in Shanghai Saturday. “We wouldn’t have dared to think about it five years, or even three years ago.”Ant’s IPO Is Said to Lure Fidelity, T. Rowe Price, UBS AssetThe company may raise another $5 billion after it exercises the so-called greenshoe option to meet demand, people familiar with the matter have said, adding the numbers are subject to change. That would give Ant a valuation of about $320 billion, making it bigger than JPMorgan and four times larger than Goldman Sachs Group Inc.The IPO is attracting interest from some of the world’s biggest money managers, and sparking a frenzy among individual investors in China clamoring for a piece of the sale.T. Rowe Price Group Inc., UBS Asset Management and FMR LLC, the parent of Fidelity Investments, are among the money managers angling for a piece of the deal, a person familiar with the matter has said.Each of the firms is considering investments worth several billion dollars in the Hong Kong-listed shares, though they’ve yet to finalize plans and there’s no guarantee they’ll get an allocation, the person said.Singapore’s sovereign wealth fund GIC Pte, Temasek Holdings Pte and China’s $318 billion National Council for Social Security Fund are also jockeying for a slice of the IPO, people familiar with the matter said earlier this month. Ma’s Alibaba Group Holding Ltd. will also buy new Ant shares to maintain its ownership stake at around 32%.Leveraged LoansHong Kong stockbrokers are so confident Ant IPO will go smoothly that they’re offering to let mom-and-pop investors buy the stock with as much as 20 times leverage. That matches the highest ratio ever offered by brokerages including Bright Smart Securities & Commodities Group and UP Fintech Holding Ltd. HSBC Holdings Plc has set aside more than HK$100 billion ($13 billion) of margin loans for retail investors to subscribe to the Hong Kong IPO, Hong Kong Economic Journal reported, citing the lender.With the pricing this week, investors will have to commit to the deal just days before a U.S. presidential election that could have ramifications for both Ant’s overseas expansion plans and investor risk-appetite. Shares will almost certainly start trading only after the U.S. vote on Nov. 3.The company will issue no more than 1.67 billion shares in China, equivalent to 5.5% of the total outstanding before the greenshoe option, according to its prospectus on the Shanghai stock exchange. It will issue the same amount for its Hong Kong offering. The Shanghai shares will be listed under the ticker “688688,” according to the prospectus. Ant is expected to start taking orders for the Hong Kong portion Monday, people familiar with the matter said.Elderly ClubAnt has picked China International Capital Corp. and CSC Financial Co. to lead the Shanghai leg of the IPO. CICC, Citigroup Inc., JPMorgan and Morgan Stanley are heading the Hong Kong offering.At the weekend conference, Ma criticized global financial regulations for stifling innovation and urged China to seek a system that accommodated development. He compared the Basel Accords, which set out capital requirements for banks, to a club for the elderly.“After the Asian financial crisis, the risk control highlighted in the Basel Accords has been” the priority for regulators, Ma said. “Rarely do they consider opportunities for young people and developing countries.”(Updates with Ma’s comment on Basel Accords at end)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The two sides went into the game with 100 per cent records.
A strengthening Tropical Storm Zeta is expected to become a hurricane Monday as it heads toward the eastern end of Mexico's resort-dotted Yucatan Peninsula and then likely move on for a possible landfall on the central U.S. Gulf Coast at midweek. Zeta, which on Sunday became the earliest ever 27th named storm of the Atlantic season, was centered about 260 miles (420 kilometers) southeast of Cozumel island late Sunday, the U.S. National Hurricane Center said. It would then head into the Gulf of Mexico and approach the U.S. Gulf Coast by Wednesday, though it could weaken by then, the hurricane center said.
Because 2020 is the year of the checked shirt.
Dalton Del Don delivers his game-by-game fantasy football recap for Week 7.
(Bloomberg) -- Holding companies controlled by energy-to-mining tycoon Anil Agarwal face the highest debt repayments in several years just as credit rating firms step up warnings.Vedanta Ltd. holding companies Vedanta Resources Ltd. and Volcan Investments Cyprus Ltd. must repay a combined $1.17 billion next year. That’s the most since 2017, according to data compiled by Bloomberg.The Breakdown:A Vedanta Resources bond principal payment of $670 million due in June. Those notes and others from the company rallied in recent days after Hindustan Zinc Ltd. said it will pay 90 billion rupees ($1.2 billion) in dividends to its shareholders, the biggest of which is Vedanta Ltd.A Volcan Investments Cyprus $500 million syndicated loan that matures in SeptemberInvestors’ focus has been riveted on how Vedanta Resources will deal with its debt after opposition from minority shareholders derailed a delisting of its Indian unit Vedanta Ltd. two weeks ago. The privatization plan had intended to give the parent greater access to profits generated by operating companies and allay concerns about the debt load. Its flop adds to broader strains after the pandemic dragged down demand for commodities.Progress for the company in refinancing debt will be important over the next couple of quarters, S&P Global Ratings analyst Neel Gopalakrishnan said Thursday. Vedanta Resources, which has a B- junk rating at S&P, has sufficient cash from subsidiaries to meet the debt due in the period, but if there are no significant developments “it’s likely that there would be renewed pressure on the rating,” he said.Moody’s Investors Service last week put London-based Vedanta Resources under review for a possible downgrade, citing increased refinancing risk and large funding needs.Debt maturities for the Vedanta group including the parent entity over the next 12 months are around $2 billion, a Vedanta spokesman said, referring to the period from October 2020 to October 2021. “The group operations continue at near capacity even in the generally impacted global supply chains and produces significant free cash flows post capex needs,” he said. The company declined to state the amount of debt maturing in the calendar year 2021.Investors showed more optimism after Tuesday, when Hindustan Zinc, which is 65%-owned by Vedanta Ltd., announced the interim dividend payout. Vedanta Ltd. in turn approved a dividend amounting to 35 billion rupees, according to an exchange filing Saturday.Vedanta Resources’ dollar bonds due next year rallied about 10 cents last week, the most since June, to about 92 cents. Shares in Vedanta Ltd. also surged.But despite the rebound, some of the group’s debt securities are still at strained levels. Vedanta Resources’ notes due in 2022, for example, are at about 77 cents on the dollar even after last week’s rally.Any continued stress would increase difficulties to issue new bonds to refinance the maturing debts, said Vishal Kulkarni, a Hong Kong-based analyst at Nomura International HK Ltd.(Adds link to story on Agarwal seeking $5 Billion for a turnaround fund.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Celebrations as Chile votes by huge majority to scrap Pinochet-era constitutionA plebiscite called in response to street protests in 2019 sees 78% of people back a new charter to replace one imposed by military dictator
Zane Gonzalez got a rare second chance on Sunday. He did not miss.
(Bloomberg) -- President Xi Jinping opened a meeting in Beijing this week to map out the next phase of economic development, just days before one of the most contentious U.S. elections in history will produce a president resistant to China’s ascent no matter who wins.The country’s 14th five-year plan is expected to center around technological innovation, economic self reliance and a cleaner environment. Communist Party officials will also set goals for the next 15 years as Xi seeks to deliver on his vow for national rejuvenation by gaining the global lead in technology and other strategic industries. The meeting is closed to the press, and key decisions likely won’t be made clear before it wraps up on Thursday.If China’s economy -- which is already recovering swiftly from the coronavirus shock -- can stick to the growth trajectory of recent years, it’ll surpass the U.S. within the next decade. The prospect of ever deeper frictions with the U.S. underpins Xi’s strategy to accelerate plans to shield China from swings in the world economy.“It reflects China’s realist reassessment of the current global climate,” said Fred Hu, the founder of Primavera Capital Ltd., a private-equity fund based in Beijing. “Self reliance is about developing certain domestic capabilities through investments in R&D and innovation, a necessary and prudent response to external uncertainties.”“However, it doesn’t mean China will repudiate its longstanding ‘open door’ policy and turn inward,” said Hu, who previously worked for the International Monetary Fund and led Goldman Sachs Group Inc. in China.Read More: China to Lay Out Five-Year Blueprint for Self-Reliant EconomyXi and other officials have recently insisted the economy will further open its doors to foreign capital and competition, reflecting concerns about how the world will perceive the upcoming plans. In a speech in Shenzhen this month, Xi vowed to drive technological innovation, but softened that message by making it clear he wants a “new open economic system.”That desire to avoid having the new plans become the latest lightning rod in the nation’s deteriorating relations with the U.S. and other trading rivals may mean the language around them is toned down. A previous strategy dubbed “Made in China 2025” went dark after it inflamed trade hawks in the Trump administration and spurred unease in Europe and other economies at risk of losing out to increased competition.What Bloomberg’s Economists say...“An emphasis on encouraging domestic circulation would not signal that China is closing its doors on the world. We expect the plan to encourage two-way trade and promote services trade.”\--Chang Shu and David Qu. Bloomberg Terminal clients can read the report HERE.There’s already growing support in capitals from Washington to Canberra to restrict China’s access to strategic technologies. President Donald Trump’s aggressive stance toward China now has bipartisan backing and Chinese officials worry Joe Biden may be even more effective by bringing allies together to curb its development.Which is why the new plans “will be much less explicit and not as specific as before, because the Made in China 2025 plan had brought so much trouble for China and helped energize the opposition from the U.S.,” said Chen Zhiwu, director of the Asia Global Institute at the University of Hong Kong. “So, I expect them to focus on general guidelines and stay vague on specifics,” said Chen, who is a former adviser to China’s State Council.Officials have been quick to argue that what’s good for China is good for the world. Foreign ministry spokesman Zhao Lijian cited media reports to reporters on Wednesday that said a third of Mercedes Benz AG’s profits came from China in the third quarter and that China’s box office sales of more than $2 billion surpassed that of North America for the first time this year.This proves that China’s massive market will generate “sustainable impetus for Chinese and world economic growth,” Zhao said.That’s backed up by IMF forecasts. Bloomberg calculations based off the latest estimates show China will be the world’s biggest growth engine in the years ahead.Unlike its peers, China’s economy is the only major one in the world forecast to grow this year after authorities aggressively contained the coronavirus.READ MORE: China’s Economy Plows On as World’s Only Major Growth EngineStill, the number of countries that consider Chinese technology companies as national security threats is growing. Some are banding together to shift import dependency away from China as criticism grows over its domestic policies. Global companies are also assessing their supply chains due to reports of forced labor and China’s treatment of Uighurs in Xinjiang and its policies toward Hong Kong.That resistance from the international community is pushing China to look inward for sources of growth. So far, tariffs and sanctions have done little to change China’s behavior. It maintains an extensive negative list of foreign companies operating in China that it may target, while recent actions aimed at Australian exports show it’s prepared to retaliate when it feels its interests have been threatened.A more coordinated effort that brings together Europe, Japan and other American allies may be harder to resist and could push China onto a more isolated path.That overseas wariness will impact the flow of outbound Chinese investment, said Hu, with the likelihood that state-backed investment into markets such as the U.S., U.K. or Australia is scaled back and ambitions around other projects, such as Xi’s signature Belt and Road Initiative, will be readjusted.Growth TargetFive-year plans, a legacy of China’s command economy, have recently focused on industrial restructuring and maintaining a medium to high rate of growth. State media has reported that China will likely downplay the GDP target in the upcoming plan as it shifts to high-quality growth. While deliberations will be announced after the gathering, the document in its entirely will only be made public at an annual parliamentary session in March.Delivering on self reliance while still benefiting from globalization -- or “dual circulation” as the twin goal is dubbed by Chinese officials -- will be a challenge given that hawkish rhetoric toward China will persist, said Wang Tao, chief China economist at UBS Group AG in Hong Kong.“China is facing a more challenging external environment of development,” she said. “Going forward, China has to be more ambitious on domestic reform and opening. It will probably intensify.”(Updates with Xi kicking off meeting from first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Mohammad Ikram leans over the snooker table, his face at almost touching distance behind the white ball as he assesses his options, then knocks it with his bearded chin. With a twist of the neck this way, or a lighter nudge another, the 32-year-old Ikram has worked out how to pot snooker balls without the use of a cue stick. Ikram remembers watching other children playing on dusty pool tables outside his home when he was a 10-year-old kid.
Chinese leaders will discuss ambitious new measures to tackle climate change on Monday at a government plenum to finalise a new five-year national development plan, after Chinese President Xi Jinping pledged to make the country "carbon neutral" by 2060. Policymakers are under pressure to include radical climate targets in the new 2021-2025 "five-year plan", with the COVID-hit economy weighing on their decisions. Government departments drawing up the document were scheduled to complete the first draft by April, but Xi's announcement to the United Nations that the country will offset all its emissions within 40 years meant they must integrate the new climate goals.
A new coronavirus outbreak at the White House involving Vice President Mike Pence's staff comes as the United States reported a near-record number of new cases on Saturday (October 24). The United States reported 79,852 new infections on Saturday, closeclose to the previous day's record of 84,244 new cases. Hospitalizations are also rising and have hit a two-month high and deaths are also trending upwards, according to a Reuters tally. Late on Saturday a spokesman for Pence said Marc Short, Pence's chief of staff, had tested positive for the new coronavirus. Pence and his wife tested negative earlier in the day and the vice president will not alter his schedule as he campaigns ahead of the Nov. 3 election, the spokesman said. Speaking to reporters in Detroit on Sunday (October 25), Democratic vice presidential nominee Kamala Harris said Pence should adhere to CDC guidelines to avoid contracting and possibly spreading the virus. "I think what we have modeled the right and good behavior, and they should take our lead, you know," Harris said. Earlier in the month, two members of Harris' staff also tested positive for coronavirus.