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Special Report | Credit Agricole CIB strengthens its growth in Asia from Hong Kong, unfazed by Trump's trade war

The bank boasts significant proficiency in yuan trading, green financing, and infrastructure growth, according to CEO Xavier Musca.

The CEO of the French banking behemoth, Credit Agricole CIB, has confirmed the bank's dedication to leverage Hong Kong as a hub to broaden its operations in Asia. He further indicated that these plans will remain unchanged, despite Donald Trump's intention to initiate a trade conflict with China.

The three main development factors in Hong Kong – the globalization of the yuan, sustainable finance, and infrastructure growth – present significant opportunities for Credit Agricole CIB, given our proficiency in these areas, according to Xavier Musca in a recent exclusive discussion with the Post, during his latest trip to the city.

"Asia possesses a vast reserve of savings, which is highly appealing to Credit Agricole Group in its capacity as a bank and wealth management firm."

He stated that Credit Agricole's growth strategy in Hong Kong and Asia will remain unaffected by the difficulties posed by Trump's re-election, who has promised to levy extra tariffs on products from China.

"China, which holds the position of the world's second largest economy, will persist in its growth and maintain its openness," stated Musca. "Despite the looming threat of a trade conflict, we have no intentions of reducing our operations in China or anywhere else in Asia."

Two fifty-four

Trump warns of impending tariffs against China, Canada, Mexico over drug issues on his first day in office.

The lender is attracted to the numerous city infrastructure projects that require financing, a sector where the French lender is an expert. At present, the Hong Kong administration is marketing infrastructure retail bonds worth HK$20 billion (US$2.6 billion) until December 6 to fund several vital infrastructure developments. In the middle of October, the government generated HK$55 billion from Silver Bonds for the identical objective.


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Promising Clinical Trial of Bovhyaluronidase Azoximer Sparks Hope for Long COVID Pulmonary Sequelae Patients

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Recent testing of bovhyaluronidase azoximer sparks optimism for individuals suffering from lung complications due to COVID-19

A latest clinical study centered around bovhyaluronidase azoximer (BA) has produced encouraging findings, suggesting it may serve as a possible therapy for lingering lung complications from COVID-19.

BA could potentially enhance patients' lung abilities and their tolerance to physical activity.

[This article's content was created by our promotional partner.]

The World Health Organization (WHO) states that long COVID, a condition affecting multiple body systems, occurs in about 10 to 20 percent of COVID-19 patients. The symptoms of this condition often consist of tiredness, difficulty in breathing, and an inability to tolerate physical activity.

One of the persistent effects of COVID, referred to as pulmonary sequelae, encompasses conditions like restrictive lung disease, breathing-related symptoms, and lung imaging irregularities similar to pulmonary fibrosis. These lung-related consequences of COVID-19 have the potential to linger for months or even years.

Up to this point, the WHO has not released any medical treatment advice for lung complications following COVID.

Despite this, recent research has ignited optimism. The study, named "Bovhyaluronidase azoximer for long-term pulmonary sequelae of COVID-19: a randomised, double-blind, placebo-controlled trial," concluded with results that hint at a promising path for additional exploration of BA in addressing lung complications and possibly extended effects of COVID-19.

Hyaluronic acid (HA) plays a role in the disease progression of lung-related conditions. BA, an enzyme linked to a polymer, is responsible for breaking down HA.


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Hope on the Horizon: Clinical Trial of Bovhyaluronidase Azoximer Presents Promising Treatment for Pulmonary Sequelae in Long COVID Patients

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The recent testing of bovhyaluronidase azoximer sparks optimism for individuals dealing with lung complications from long COVID-19.

The latest clinical research on bovhyaluronidase azoximer (BA) has shown encouraging outcomes for its possible use as a treatment for prolonged COVID-related lung complications.

The potential advantages of BA could be enhancing patients' lung abilities and their endurance during physical exertion.

[This article's content has been created by our promotional partner.]

The World Health Organization (WHO) states that post-acute sequelae of SARS-CoV-2 infection, often referred to as long COVID, is a complex condition affecting multiple body systems. It is reported to occur in about 10 to 20 percent of individuals who have had COVID-19. The symptoms of this condition

Long-term effects of COVID, also referred to as pulmonary sequelae, incorporate conditions like restrictive lung disease, breathing issues, and lung-related abnormalities similar to pulmonary fibrosis. This aftermath of COVID-19 has the potential to persist for months or even years.

Until now, the WHO has not released any medical treatment advice for lung complications following COVID-19.

Despite this, recent research has brought about encouraging results. The study, named "Bovhyaluronidase azoximer for long-term lung complications of COVID-19: a randomized, double-blind, placebo-controlled trial," has ended with conclusions that provide a promising pathway for more in-depth exploration of BA’s role in the treatment of lung complications, and potentially long-term effects of COVID-19.

Hyaluronic acid (HA) plays a role in the disease progression of lung-related conditions. BA, an enzyme linked to a polymer, is responsible for breaking down HA.


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New Hope for Long COVID Patients: Clinical Trial of Bovhyaluronidase Azoximer Shows Promise in Treating Pulmonary Sequelae

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The recent testing of bovhyaluronidase azoximer offers new possibilities for individuals suffering from lingering COVID-19 lung complications. The latest clinical trial studying bovhyaluronidase azoximer (BA) has shown encouraging findings for its use as a potential remedy for long-term COVID-19 lung aftereffects. The potential advantages of BA could be enhancing lung functionality and exercise capacity in patients. [This article's content was provided by our promotional partner.]

The World Health Organization (WHO) states that long COVID is a condition affecting multiple systems in the body, which occurs in 10 to 20 percent of individuals who have had COVID-19. The symptoms of this condition encompass tiredness, difficulty breathing, and an inability to tolerate physical activity.

A persistent symptom of long COVID, referred to as pulmonary sequelae, encompasses restrictive lung conditions, breathing issues, and lung imaging irregularities similar to pulmonary fibrosis. These after-effects of COVID-19 on the lungs can persist for several months, and in some cases, even years.

Up until now, the WHO has yet to release any medical treatment protocols for lung complications following COVID.

Despite this, a new study has sparked optimism. The clinical trial, named "Bovhyaluronidase azoximer for long-term pulmonary sequelae of COVID-19: a randomised, double-blind, placebo-controlled trial," has ended with results that indicate a promising path for more in-depth exploration of BA in the treatment of pulmonary sequelae and possibly even long COVID overall.

Hyaluronic acid (HA) plays a role in the disease process of lung complications. BA, an enzyme connected to a polymer, is responsible for breaking down HA.


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Revolutionizing Long COVID Treatment: Clinical Trial of Bovhyaluronidase Azoximer Shows Promise for Pulmonary Sequelae Patients

Published

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Recent testing of bovhyaluronidase azoximer sparks optimism for individuals with lung complications from COVID-19

A fresh clinical study centered on bovhyaluronidase azoximer (BA) has produced encouraging outcomes for its potential use in treating persistent lung complications from COVID-19.

BA's potential advantages could involve enhancing patients' lung capacities and their endurance for physical activity.

[This article's content was created by our promotional partner.]

The World Health Organization (WHO) states that long COVID, a condition affecting multiple body systems, is seen in about 10 to 20 percent of individuals who have had COVID-19. The condition is characterized by symptoms such as tiredness, difficulty breathing, and an inability to tolerate physical activity.

A lingering symptom of long COVID, referred to as pulmonary sequelae, encompasses restrictive lung disease, breathing issues, and lung abnormalities that mirror pulmonary fibrosis. The pulmonary aftereffects of COVID-19 can persist for several months or even years.

As of now, the World Health Organization has not yet released any medical treatment recommendations for post-COVID lung complications.

Despite this, a new study has sparked optimism. The clinical trial, named "Bovhyaluronidase azoximer for extended lung aftereffects of COVID-19: a randomised, double-blind, placebo-controlled trial," ended with results that point towards a promising path for additional exploration of BA in treating lung aftereffects and potentially long-term effects of COVID in general.

Hyaluronic acid (HA) plays a role in the disease progression of lung-related conditions. BA, an enzyme linked to a polymer, is responsible for breaking down HA.


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Opinion: The Struggle for Energy Transition in Southeast Asia – A Call for Private Finance and Regulatory Policy Intervention

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Viewpoint | There's a lack of financial and policy support in Southeast Asia's energy shift

The majority of required funding will have to be sourced from private investment, necessitating a favorable climate that can be established by regulatory policies.

During the Cop29 conference in Baku, Azerbaijan, industrialized countries pledged to supply a minimum of US$300 billion each year by 2035 to aid developing countries. The Asian Development Bank states that Southeast Asia alone requires US$210 billion per year until 2030 to satisfy its energy transformation demands.

The International Energy Agency has reported a decrease in carbon emissions in numerous developed countries since 2007, despite an increase in their gross domestic product. This distinct separation between GDP and emissions is not as pronounced in developing countries, yet it is still evident. For example, China's economy has grown 14-fold since 1990, while its emissions have only increased five-fold. Similar trends are observed in Africa and Latin America where economic growth and emissions are moving in opposite directions.

Regrettably, in Southeast Asia, there has been a near-identical rise in both GDP and emissions.


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Trump’s Tariff Threats Over Hypothetical ‘Brics Currency’: A Reminder of Dollar’s Dominance and Need for Greater China-US Financial Dialogue

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Opinion | While Trump frets over improbable 'Brics currency', China needs to communicate more with the US regarding finances

Trump's warning of tariffs against a currency that probably won't come into existence underscores the powerful influence the dollar holds in emerging economies.

The countries that make up Brics – Brazil, Russia, India, China, and South Africa, along with some new additions to the group – are not exactly forming a fiscal coalition. The thought of them establishing a shared currency to challenge the U.S. dollar is merely a pipe dream. Even though Russia's President, Vladimir Putin, has toyed with this concept by displaying a vibrant Brics banknote at a recent summit in Kazan this year, he was prompt in stating that the group has no plans to introduce a new currency.

The member nations are bound by a common dissatisfaction with the global order dominated by the US and a perception that their opinions are not given due importance. However, the coalition falls short in terms of powerful institutions or abilities.

The New Development Bank, originally known as the Brics Development Bank and located in Shanghai, is not expected to take on the responsibilities of a central bank. The organization's yearly summit presents an opportunity for national leaders to network and make notable political statements, though it doesn't offer much beyond that.

Even though there's a hint of bitterness towards US dominance, the term Bric was initially introduced by the American financial institution Goldman Sachs. The abbreviation was created by the British economist Jim O’Neill to educate his clients about trading and investment trends, similar to the Pigs label for Portugal, Italy, Greece, and Spain amid the European debt crisis.

The phrase Bric began to hold political significance following the G8 summit in Japan in 2008. There's an unverified account that Japan gave preference to G8 members, treating them as honored guests, while the five invited nations – China, Brazil, Mexico, India, and South Africa – were considered less important. The G8+5 global governance model was soon replaced with a more balanced and inclusive G20. Following this, the Bric nations began to form a bond. The inaugural Bric summit took place in 2009, and in 2010, South Africa joined, leading to the addition of the "S" in the acronym.


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New CEO Echo Huang Faces Hurdles in Restructuring Hong Kong’s Troubled New World Development: A Test of Leadership Amid Investor Concerns

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The CEO of New World, Huang, faces the challenging task of organizing the operations of the Hong Kong developer. Despite having a strong track record within the company, analysts suggest she must still convince investors of her suitability for the role.

The surprising selection of Echo Huang Shaomei as the latest CEO of New World Development (NWD) has sparked doubts regarding her suitability to guide one of Hong Kong's heavily indebted developers out of its current predicament.

Experts express significant skepticism regarding the current circumstances of NWD, including the leadership history of Huang and issues of NWD's corporate governance. They also raise concerns about non-essential asset sales and the insufficient information given about the most recent changes in management.

"Recent modifications might provoke apprehensions in the market regarding NWD's corporate governance," stated Raymond Cheng, the managing director at CGS International Securities Hong Kong. He further noted that this turbulence could potentially lead to a decline in its stock value in the upcoming period.

Cheng expressed that the shift in leadership might enable NWD to enhance its operations in mainland China. However, Huang's absence of prior experience in Hong Kong's real estate industry could potentially be a disadvantage.

Huang must prove and persuade the investor community that she is the appropriate individual to guide the company, he stated.


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ASML Maintains 2025 Sales Forecast Despite New US Chip Restrictions on China: Dutch Government Echoes Security Concerns

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ASML states that new US restrictions on China's chip industry won't impact their sales projection for 2025. The Netherlands-based chip equipment manufacturer is currently analyzing the effects of these new limitations, but anticipates minimal influence on the long-term demand.

In a separate statement, the government of the Netherlands expressed its agreement with the US on the security risks associated with exporting sophisticated semiconductor manufacturing equipment. They are currently reviewing the most recent regulations from the US.

ASML reiterated their November 14 forecast in a recent announcement, stating they expect their total sales to range between 30-35 billion euros (approximately US$31.5-36.7 billion) by 2025. They anticipate that nearly 20% of these sales will come from China, a significant decrease from the current year's 50%.

The recent restrictions imposed by the US will impact ASML's ability to export deep ultraviolet lithography systems to certain semiconductor factories in China, provided the Dutch government enforces these rules.


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China Mobile Launches $1Billion Bid for HKBN, Challenging I Squared Capital Amid Support from Key Shareholders

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China Mobile is going head-to-head with a $1 billion proposal for HKBN to stave off I Squared Capital. The company has obtained commitments from the Canada Pension Plan Investment Board and the American private equity company TPG, which collectively own a 25 percent stake.

China Mobile has proposed a buyout deal for HKBN, potentially worth up to HK$7.8 billion (US$1 billion), entering into a competitive bid with American private equity company, I Squared Capital. This contest is for one of the largest broadband service providers in Hong Kong. Following this news, the shares soared when the trading resumed.

The leading global mobile phone provider, gauged by its subscriber base, proposed a per share price of HK$5.23 for the company's core shares, as stated in a Hong Kong stock exchange document, marking a 7.6 percent increase from its most recent trading price. Earlier that day, I Squared Capital presented a non-committal bid to purchase HKBN for an unspecified sum.

China Mobile announced that it has secured firm commitments from two of HKBN's largest shareholders, the Canada Pension Plan Investment Board (CPPIB) and American private equity company TPG. These two entities, which hold approximately 25% of HKBN, have pledged their support to the bidder, as stated in China Mobile's latest Monday filing.

The Canada Pension Plan Investment Board (CPPIB) holds a 13.9% share in HKBN, while TPG's ownership stands at 11.1%. Additionally, South Korean private equity firm MBK Partners also has an 11.1% share, not considering convertible instruments, as per the most recent annual report from HKBN. Singapore's sovereign wealth fund, GIC Private, owns 7% of the company.

China Mobile proposes to buy each of HKBN's 1.31 billion available shares at a price of HK$5.23, amounting to a total of HK$6.86 billion. The same price will be offered for other unvested share units and vendor loan notes, potentially increasing the acquisition cost by an additional HK$937.7 million.


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China Mobile Launches US$1 Billion Bid for HKBN in Face-off with I Squared Capital; Secures Support from Major Shareholders

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China Mobile is battling it out with a US$1 billion proposal for HKBN to ward off I Squared Capital. The company has gotten commitments from the Canada Pension Plan Investment Board and American private equity company TPG, who collectively own a 25 per cent share.

China Mobile has proposed an acquisition deal for HKBN, potentially worth up to HK$7.8 billion (US$1 billion). This move puts China Mobile in competition with US private equity firm, I Squared Capital, both vying to acquire one of Hong Kong's major broadband service providers. Following the announcement, HKBN's share price saw a significant increase.

The biggest mobile-phone provider globally, based on subscriber count, proposed HK$5.23 for each share of the company's primary stock, as per a filing with the Hong Kong stock exchange. This proposal is 7.6 per cent more than its most recent trading price. Earlier in the day, I Squared Capital had also put forward a non-binding purchase proposal for HKBN, though the proposed amount remains undisclosed.

China Mobile announced that it has secured solid commitments from two of HKBN's major shareholders, the Canada Pension Plan Investment Board (CPPIB) and the American private equity company, TPG. These two firms, which collectively own approximately 25% of HKBN, have expressed their support for the bidder, as noted in a filing submitted late Monday.

The Canada Pension Plan Investment Board (CPPIB) holds a 13.9% share in HKBN. Similarly, TPG has an 11.1% interest in HKBN, equal to the stake held by South Korean private equity firm MBK Partners, as per HKBN's most recent yearly report. This does not take into account convertible instruments. The Singaporean sovereign wealth fund, GIC Private, owns a 7% stake in the company.

China Mobile has proposed a price of HK$5.23 per share for each of HKBN's 1.31 billion shares currently on the market, amounting to a total of HK$6.86 billion. The same price will be applied to other unclaimed shares and vendor loan notes, potentially increasing the overall acquisition sum by an additional HK$937.7 million.


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China Mobile’s US$1 Billion Bid for HKBN in Battle Against I Squared Capital: A Strategic Move Supported by Major Shareholders

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China Mobile is battling with a billion-dollar proposal for HKBN to counter I Squared Capital. The company has obtained commitments from the Canada Pension Plan Investment Board and the US private equity firm TPG, who collectively own a 25 per cent share.

China Mobile has proposed an acquisition bid for HKBN, potentially worth up to HK$7.8 billion (US$1 billion). This places them in direct competition with US private equity firm, I Squared Capital, to secure one of the largest broadband service providers in Hong Kong. This news prompted a significant increase in the stock's trading activity upon resumption.

The biggest mobile-phone provider globally, in terms of subscribers, proposed a price of HK$5.23 for each share of the company, as per a filing with the Hong Kong stock exchange. This offer is 7.6 per cent more than the last traded price. Earlier the same day, I Squared Capital put forth a non-committal proposal to purchase HKBN for an unannounced sum.

China Mobile announced that it has obtained solid commitments from two of HKBN's largest shareholders, the Canada Pension Plan Investment Board (CPPIB) and American private equity company TPG. These two entities, which collectively own about 25% of HKBN, have agreed to support the prospective buyer, as per the statement released late Monday.

The Canada Pension Plan Investment Board (CPPIB) holds a 13.9% share in HKBN, as per HKBN's recent annual report. TPG, on the other hand, possesses an 11.1% stake in the same company. Additionally, MBK Partners, a private equity firm from South Korea, also has an 11.1% share, not counting convertible instruments. The Singapore-based sovereign wealth fund, GIC Private, owns a 7% stake in HKBN.

China Mobile is proposing to purchase each of HKBN's 1.31 billion available shares for HK$5.23, amounting to a total of HK$6.86 billion. The same price will be paid for other yet-to-be-vested shares and vendor loan notes, potentially increasing the acquisition cost by an additional HK$937.7 million.


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Hong Kong Stocks Skyrocket Amid Anticipation of Beijing Stimulus; WuXi Bio and WuXi AppTec Take Flight, China Mobile Stumbles Post HKBN Bid

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Shares in Hong Kong surge to their highest level in three weeks as investors anticipate new economic incentives from Beijing. Biotechnology companies WuXi Bio and WuXi AppTec experience a significant increase, whereas China Mobile sees a decline after proposing a deal for broadband service provider HKBN.

The Hang Seng Index experienced a 1% increase, closing at 19,746.32, its peak since November 13, while the Tech Index boosted by 0.3%. Domestic market indicators also saw a slight increase, with the CSI 300 Index and the Shanghai Composite Index ascending by 0.1% and 0.4% respectively.

Biotech company WuXi Biologics saw a substantial increase of 7.9 per cent, taking its stock price to HK$16.72. Its partner company, WuXi AppTec, also experienced a significant rise of 6.3 per cent, reaching HK$52.15. Meanwhile, personal computer manufacturer Lenovo Group also witnessed a boost, with their shares rising 4.1 per cent to HK$9.

Two minutes and fifty

Trump warns of imposing fresh anti-narcotic tariffs on China, Canada, and Mexico from 'day one'.


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