Thursday, July 19, 2018

Producers of China’s most expensive film Asura pull it from cinemas after failing at box office

Producers of China’s most expensive film Asura pull it from cinemas after failing at...

The producers of Asura, the most expensive Chinese film ever made at 750 million yuan (US$112 million), on Monday decided to pull it from the cinemas after a disastrous opening weekend where it only made 49.05 million yuan. The surprise announcement was posted on the film’s official Weibo account – the Chinese equivalent of Twitter…
Don’t read too much into China’s lipstick sales surge, honestly things are fine, analysts say

Don’t read too much into China’s lipstick sales surge, honestly things are fine, analysts...

Sales of lipstick in China almost doubled last year, becoming the fastest growing category among cosmetic products, pointing to vibrant underlying consumer demand, rather than a dark omen of trouble in the economy, analysts say. A surge in spending on cosmetics has in some instances been seen as an indicator of looming economic downturn, a…
Producers yank China’s most expensive movie from screens after three meagre days at the box office

Producers yank China’s most expensive movie from screens after three meagre days at the...

The producers of Asura, the most expensive Chinese film ever made at 750 million yuan (US$112 million), decided to pull it from theatres on Monday after a disastrous opening weekend when it only made 49.05 million yuan (US$7.3 million). The surprise announcement was posted on the film’s official Weibo account – the Chinese equivalent of…
HNA Group chairman Wang Jian dies in 15-metre fall onto rocks while posing for a photo in France

HNA Group chairman Wang Jian dies in 15-metre fall onto rocks while posing for...

The chairman of Chinese conglomerate HNA Group, Wang Jian, died from injuries sustained after falling 15 metres (50 feet) onto rocks while posing for a photograph during a visit to France, local police said. The incident happened in the village of Bonnieux in the Provence region, an officer from the nearby town of Pertuis told…
Surge in China’s top lingerie maker short-lived even with Victoria’s Secret ex-CEO on board

Surge in China’s top lingerie maker short-lived even with Victoria’s Secret ex-CEO on board

Shares of Chinese lingerie maker Cosmo Lady, which surged on Monday following the appointment of former Victoria’s Secret CEO Sharen Jester Turney as its chief strategic officer, could not sustain its momentum. The shares closed 0.5 per cent lower in Hong Kong on Tuesday after jumping as much as 12 per cent in the previous…
Producers yank China’s costliest movie from screens after three meagre days at the box office

Producers yank China’s costliest movie from screens after three meagre days at the box...

The producers of Asura, the most expensive Chinese film ever made at 750 million yuan (US$112 million), on Monday decided to pull it from the cinemas after a disastrous opening weekend where it only made 49.05 million yuan. The surprise announcement was posted on the film’s official Weibo account – the Chinese equivalent of Twitter…
Former Macau gangster ‘Broken Tooth’ signs poker deal with secretive Chinese firm after raising US$750 million in ICO

Former Macau gangster ‘Broken Tooth’ signs poker deal with secretive Chinese firm after raising...

Former Macau triad gangster “Broken Tooth” Wan Kuok-koi has partnered with a mysterious Beijing firm to back chess and poker tournaments in mainland China, as his company said it raised US$750 million in less than five minutes in an initial coin offering for his “HB” cryptocurrency. Wan launched the ICO at a star-studded event in…
HKEX, Beijing’s new third board in dual-class listings accord

HKEX, Beijing’s new third board in dual-class listings accord

Hong Kong Exchanges and Clearing (HKEX), the operator of the city’s stock exchange, has signed an agreement with Beijing’s over-the-counter exchange, the National Equities Exchange and Quotations (NEEQ), marking the latest effort in its bid to land more mainland technology start-up listings. NEEQ, also known as the “new third board”, was created in 2012 to…
This is what Hong Kong retailers must do to maintain edge as China announces fifth round of import tariff cuts

This is what Hong Kong retailers must do to maintain edge as China announces...

The latest round of import tariff cuts by Beijing is a fresh reminder for Hong Kong to improve its quality of service as well as retail experience, if it wants to continue to attract Chinese tourism spending despite a rapid erosion of any price advantage it enjoys versus the mainland, said analysts. China announced last…
Hong Kong’s most prestigious business accolades raise qualification bar for nominees

Hong Kong’s most prestigious business accolades raise qualification bar for nominees

The DHL/SCMP Hong Kong Business Awards, which have been honouring outstanding achievements in the city’s business and corporate sectors for almost three decades, have made significant amendments to their performance indicators and award categories, as nominations open for 2018. This year’s awards will introduce a new category to honour start-ups, in a move to reward…
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