Grin and bear it Apr 20, 2018 (WiC 405)
“We have never issued a Panda bond before, I am interested in doing so”
Miftah Ismail tells the Financial Times that Pakistan may issue a bond worth the equivalent of $1 billion in China’s onshore bond market. Described by the FT as Karachi’s “de facto finance minister”, Ismail’s proposal is a potential response to Pakistan’s dwindling foreign exchange reserves, which amount to just $11.4 billion.
Proclamation of love Apr 13, 2018 (WiC 404)
“I need China. More than anybody else at this point, I need China. I simply love Xi Jinping”
Philippines leader Rodrigo Duterte speaking on the eve of his trip to the Boao Forum this week. He added of Xi: “He understood, he understands my problem and is willing to help, so I would say thank you China.”
Banking on biotech Apr 6, 2018 (WiC 403)
“Do I lose sleep? Yes I do, because the last thing we want is to actually start a sector and the first five companies eventually turn out to be a bust”
HKEx chief executive Charles Li on the wave of pre-revenue biotech companies from China that will be permitted to list on Hong Kong’s stock exchange. Bankers say there are about 10 biotech firms keen to float. About 800 new molecules are either under trial or in pre-trial testing in China, up from 240 in 2012, the Financial Times has reported.
Costly tweet Mar 9, 2018 (WiC 400)
“I was completely unaware of what was going on. We were never trained in any of the social graces when it came to dealing with China”
Roy Jones speaks to the Wall Street Journal about Marriott’s decision to fire him. The American employee helped manage the hotel giant’s Twitter accounts and caused fury in China for liking a tweet praising the chain for identifying Tibet as a country – rather than part of China – in an online survey (see WiC394). Marriott apologised for the error.