China’s Economy Grew 5% Last Year, Among Slowest in Decades
China’s economy grew at one of the slowest rates in decades last year, as officials struggle to overcome persistently low consumer spending and a debt crisis in the country’s property sector, CNA reported, citing agencies. While the 5% expansion was in line with Beijing’s annual target, observers warned it was driven largely by exports and masked weak sentiment on the ground.
China Regulator Vows to Prevent Financial ‘Blow-Ups’
China’s financial watchdog said it will work to prevent sudden failures of small and midsize financial institutions this year, highlighting Beijing’s heightened sensitivity to financial risks as the economy remains under strain, Caixin reported.
Point72 Expands Office Space in Hong Kong’s Henderson Tower
Point72 Asset Management has signed a deal to take more space for its upcoming office in The Henderson, a skyscraper in Hong Kong’s Central district, as demand from the financial sector provides relief to the city’s beleaguered office market, Bloomberg reported via Business Times.
Fitch Rates ReNew Treasury IFSC’s Proposed USD Notes ‘BB-’
Fitch Ratings has assigned a 'BB-' rating to the proposed senior secured USD notes to be issued by ReNew Treasury IFSC Private Limited, according to its statement. The bond issuer is a fully-owned subsidiary of ReNew Private Limited, which is in turn a subsidiary of ReNew Energy Global Plc.
Zahid Assumes Felda Portfolio as FGV Completes Privatization
Umno president Ahmad Zahid Hamidi said he was formally entrusted with oversight of Federal Land Development Authority (Felda) and FGV Holdings, The Edge reported. This comes as the Malaysian government agency consolidates control over FGV after its recent delisting.