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Shengjing Bank Shares Soar After Higher Privatization Offer

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Shares of Chinese regional lender Shengjing Bank Co. surged as much as 23% in Hong Kong trading on Monday, after its state-backed shareholder said it will raise an offer to take the bank private.



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Funding & Business

The Cardboard Boxpocalypse and the State of the US Economy

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Shipments of boxes are plunging.



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Funding & Business

Sanctioned Oil Tanker Nears Adani Port Laden With Russian Crude

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A sanctioned tanker carrying Russian oil has neared an Indian port operated by Adani Group, and will likely be one of the last blacklisted vessels to unload at the conglomerate’s facilities after a ban took effect.

The Spartan, a Suezmax carrying about 1 million barrels of Urals crude, was off Mundra port on Sunday near an offshore discharge point that services refiner HPCL-Mittal Energy Ltd., according to ship-tracking data compiled by Bloomberg, Kpler and Vortexa. The vessel was sanctioned last year by the European Union and the UK for allegedly helping facilitate the export of Russian oil.



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Funding & Business

South Africa Banks Pan Minister’s U-Turn on Credit-Law Changes

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South Africa’s top banking lobby group criticized the government’s withdrawal of proposed changes to the National Credit Act that were meant to help small firms secure loans.



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