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The United Arab Emirates is slicing half a day off the working week while companies experiment with shorter hours. A lasting shift requires a majority to follow, even as tech makes it harder to log off. But post-pandemic workers may be more willing to trade labour for leisure.
The HKMA and PBOC trotted out a roster of banking and regulatory grandees to defend the city’s position as a financial hub. Hosting such an event at all suggests extended isolation is a growing worry. They make a strong case, however, about the power of capital flows into China.
Top Glove, the world’s largest maker of protective handwear, has won investor support for a third listing in Hong Kong. Labour concerns derailed the Malaysian firm’s earlier attempt when markets were hot. With shares back near pre-pandemic levels, the delay has cost it dearly.
Evergrande, the country’s most indebted developer, has admitted it might formally default. With $10 bln in property bonds maturing in January alone, officials are under pressure to keep the sector from collapsing. The most expedient solution is to put more housing in state hands.
The group’s shares plunged 20% on debut following its $31 bln SPAC merger. Unlike China’s Didi or India’s Paytm, the crash wasn't so much its fault; the Altimeter- and Temasek-backed deal was well-enough constructed. But Grab is in a market pile-up that won’t clear soon.