Funding & Business
Hong Kong Defends FX Peg for Fourth Time in Two Weeks
Hong Kong authorities intervened for the fourth time in two weeks to prevent the city’s currency from weakening beyond its official trading band, after previous efforts failed to drain enough liquidity to push up funding costs.
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Adrian Cheng, former chief executive officer of New World Development Co., has stepped down as a director of the closely held Chow Tai Fook Enterprises Ltd., marking a further retreat from the business empire long associated with his lineage.
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Mexican companies looking to go public are increasingly exploring the idea of listing in both their home country and the US, according to Jorge Alegria Formoso, chief executive officer of the Bolsa Mexicana de Valores.
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Private money is pouring into schools in Asia as investors seek to turn a profit on the growing demand for quality education.
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