Chinese conglomerate Dalian Wanda Group has invested €45 million (US$52 million) to acquire a 20% equity stake in Club Atlético de Madrid, a Spanish football club, to help shore up its balance sheet and support its expansion in China, according to a company announcement. This is the first time a Chinese company has invested in […]

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Asia-focused private equity firm RRJ Capital and International Finance Corporation (IFC) have agreed to invest S$113.5 million (US$85 million) in China Everbright Water Limited, a Singapore-listed subsidiary of China Everbright International Limited, according to a company announcement. Everbright Water, a water treatment business formerly named Hankore Environment Tech Group, will issue an aggregate of 120.7 million […]

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Asia-focused alternative investment management firm Hillhouse Capital Management has raised a US$2 billion new fund, according to media reports. Representatives of Hillhouse could not be reached to verify the news. The firm's asset-under-management has increased to around US$18 billion from last summer's US$14 billion, due to the new fund and investment gains of its existing […]

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Beijing-based steel trading website Zhaogang.com has completed US$100 million series D financing led by IDG Capital and Huasheng Capital, according to an announcement on the company's Weibo account. Existing investors Bull Capital Partners, Sequoia Capital, Matrix Partners China also participated in the round. In January 2014, the company received US$34.8 million series C financing led […]

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New York Stock Exchange-listed Chinese social networking firm Renren Inc. has invested US$40 million in California-based stock trading website Motif Investing to assist the company in its international expansion, according to a company announcement. Joe Chen, Renren's founder, will join Motif's board of directors. Founded in 2010, Motif is backed investors including Goldman Sachs, JPMorgan […]

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The author is Brett Tucker, partner at private equity firm Baird Capital China continues to be a rising power in the global economy, but accessing private equity opportunities in this evolving market has become more complex in the recent past. After years of high growth, China’s GDP growth grate hit its lowest mark in five […]

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China's housing sector showed sign of recovery as prices of new commodity residential properties for 70 medium-to-large-sized cities surveyed by the National Bureau of Statistics declined by 0.42% month-on-month in December, after falling 0.59% in November and compares with average monthly decline of 1% during the third quarter. At the same time, Soufun's 100-city average […]

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To reduce traffic accidents involving pedestrians, particularly senior citizens, the Police will run a city-wide pedestrian road safety campaign from today until January 27.

Stringent enforcement action will be taken during the week-long campaign. Officers will issue summonses against pedestrians for jaywalking or committing other serious traffic offences. They will give verbal warnings for minor offences.

Officers will also hand out publicity leaflets to improve pedestrians' road safety awareness while urging people to comply with road traffic regulations.

There were 3,268 pedestrian casualties in the first 11 months of last year, including 58 deaths – 42 of which were pedestrians aged 60 or above.

The Government will introduce amendments to the Arbitration Ordinance to remove some legal uncertainties relating to the opt-in mechanism provided for domestic arbitration.

The Department of Justice today said the amendments will allow parties opting for domestic arbitration to decide on the number of arbitrators, while retaining their right to seek the Court's assistance on matters set out in Schedule 2 of the ordinance.

The proposed amendments were made in response to requests by the arbitration sector.

Amendments will also be made to update the list of parties to the Convention on the Recognition & Enforcement of Foreign Arbitral Awards 1958 contained in the ordinance, to reflect the latest changes to the convention.

A bill containing the amendments will be gazetted on January 23 and introduced into the Legislative Council on February 4.