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Development asian news

Lee Ying Shan - Paul Chan - Hong Kong property stocks jump after city scraps cooling measures - cnbc.com - Hong Kong -  Hong Kong

Hong Kong property stocks jump after city scraps cooling measures

Stocks of Hong Kong developers rose after Financial Secretary Paul Chan scrapped property cooling measures in a bid to bolster the sector, which has been weighed down by high borrowing costs and weak economic sentiment.

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South Korea sets new record for world’s lowest fertility rate despite spending billions to stem population slide - scmp.com - South Korea - Washington -  Seattle

South Korea sets new record for world’s lowest fertility rate despite spending billions to stem population slide

The average number of expected babies for a South Korean woman during her reproductive life fell to 0.72 from 0.78 in 2022, data from Statistics Korea showed on Wednesday.

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Nikkei staff writer - ECHO WONG - Offshore creditor files petition to wind up Country Garden - asia.nikkei.com - China - Hong Kong -  Hong Kong - county Garden

Offshore creditor files petition to wind up Country Garden

HONG KONG -- Ever Credit, an offshore creditor of Country Garden Holdings, has filed a petition to wind up the Chinese property developer, a move that marks the ongoing property crisis in China.

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Prabowo Subianto - Indonesia's next president must not roll back democracy - asia.nikkei.com - Indonesia

Indonesia's next president must not roll back democracy

Indonesian Defense Minister Prabowo Subianto is on track to become the country's next president. With his vice-presidential running mate none other than the eldest son of incumbent President Joko "Jokowi" Widodo, Prabowo won public support during the Feb. 14 election by promising to maintain the course of the current government, which remains highly popular.

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Kif Leswing - Apple cancels plans to build an electric car - cnbc.com - San Francisco

Apple cancels plans to build an electric car

Apple will wind down its team working on electric cars, called Special Projects Group, according to Bloomberg.

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Country Garden - Keith Bradsher - Another Chinese Property Giant Faces a Creditor Who Wants It Dismantled - nytimes.com - China - Hong Kong -  Hong Kong - county Garden

Another Chinese Property Giant Faces a Creditor Who Wants It Dismantled

Country Garden, China’s largest real estate developer as recently as 2022, said on Wednesday that a creditor had asked a Hong Kong court to liquidate its operations and pay off lenders, in the latest sign that China’s housing crisis continues unabated.

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Kif Leswing - Lina Khan - FTC Chair Lina Khan takes victory lap on blocking Nvidia-Arm merger - cnbc.com

FTC Chair Lina Khan takes victory lap on blocking Nvidia-Arm merger

Federal Trade Commission Chair Lina Khan cited the surging stock prices of Nvidia and Arm as an example of how blocking mergers can lead to increased innovation.

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Ryan Anastasio - Sony to lay off 900 workers from PlayStation division, or 8% of unit's global workforce - cnbc.com - Japan

Sony to lay off 900 workers from PlayStation division, or 8% of unit's global workforce

Sony Interactive Entertainment on Tuesday said it will lay off about 900 employees in its PlayStation unit, or 8% of its global workforce, becoming the latest technology company to announce headcount trims.

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