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On September 21st, Hong Kong SAR Financial Secretary Paul Chan Mo-po stated today (21st) that the Northern Metropolitan Area is a key vehicle for Hong Kongs industrial restructuring, enabling the coordinated development of the "finance + innovation and technology + trade" multi-engine. The Development and Operation Model Design Group, led by Chan, will hold its first meeting this month. He emphasized that the core of the Northern Metropolitan Area development work is "targeted and flexible." This means clearly tying the development of the Northern Metropolitan Area to the implementation of industrial development, with this as the goal of all work. The group will actively explore innovative, flexible, and feasible solutions across various aspects, including legal frameworks, administrative procedures, and financing options, to accelerate the promotion of the Northern Metropolitan Area and the influx of industry, thereby accelerating the realization of the Northern Metropolitan Areas development goals.According to Singapores Lianhe Zaobao on September 21st, the White House announced on September 20th that a new rule for H-1B visas, effective September 21st, will impose a $100,000 fee on each application, but will not apply to re-entry by existing visa holders. The report, citing Reuters, reported that White House spokeswoman Carolyn Levitt posted on social media platform X on the 20th: "This is not an annual fee, but a one-time fee that applies only to applications." Levitt also stated that H-1B visa holders currently abroad will not be charged the $100,000 fee upon re-entry. The White House claims the fee is intended to level the playing field for American workers, who are being displaced by low-wage foreign labor. The White House stated that the $100,000 fee could be waived in individual H-1B visa applications if it is in the national interest.On September 21st, US President Trump again called on European countries to "stop buying" Russian oil, claiming this would further pressure Putin to end the Russia-Ukraine conflict. In a dinner speech at Mount Vernon, Virginia, Trump stated, "European countries are still buying oil from Russia—that shouldnt be happening, right?" This marked his latest day of accusing European allies of energy procurement. Following a meeting with British Prime Minister Starmer on Thursday, Trump expressed his willingness to increase economic pressure on Moscow, but only if those he supports do not also buy Russian oil. Trump, on the spot, pressured US Ambassador to NATO Whitaker, "They have to stop buying Russian oil. Ambassador Whitaker wont allow this to continue for much longer." Faced with the stalemate in the Russia-Ukraine conflict, Trump reiterated his disappointment with Putin, emphasizing that "with just a little more tightening of oil price controls, the war will be over."On September 21st, Zhuhai was forecast to experience continued rainfall, with occasional heavy rain accompanied by brief periods of strong winds and thunderstorms, due to the northward movement of thunderstorm clouds from the sea. The Zhuhai Meteorological Observatory issued a city-wide yellow warning for heavy rain at 8:10 a.m. on September 21st. A yellow warning for thunderstorms and strong winds remains in effect. The Zhuhai Flood Control and Flood Prevention Headquarters has immediately activated a Level IV emergency response for flood control (rainstorm prevention). Please take precautions. Furthermore, considering the potential severe impact of Typhoon No. 18, "Halal," on Zhuhai, the Zhuhai Flood Control and Flood Prevention Headquarters has decided to activate a Level IV emergency response for wind prevention starting at 10:30 p.m. on September 20th. The Zhuhai Meteorological Observatory predicts that from the 21st to the 23rd, Zhuhai will be primarily affected by the typhoons outer periphery, resulting in sunny and hot weather with highs reaching 35°C. However, strong winds and heavy rain will occur from the night of the 23rd to the 25th.September 21st news: On the morning of September 21st, the Hong Kong Observatory issued a yellow rainstorm warning.

Apollo holds crypto for clients as it expands in digital assets

Skylar Shaw

Nov 01, 2022 15:50

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In a significant effort to introduce bitcoin to institutional investors, one of the biggest asset managers in the world, Apollo Global Management Inc., has started storing cryptocurrency on behalf of its customers via a collaboration with the digital asset exchange Anchorage Digital.


The decision was made amid a difficult year for the cryptocurrency industry, with bitcoin, the biggest digital asset in the world, down more than 50% since the beginning of 2022 as investors seemed uneasy about the world's historically high inflation rates.


Diogo Mónica, president of Anchorage Digital, a cryptocurrency company that possesses a national trust bank license from the Office of the Comptroller of the Currency, said: "It's the affirmation of this relentless drumbeat that [crypto] is here to stay." "The fact that there is short-term volatility doesn't really matter for the huge institutions since this is a process and technology with a very long time horizon."


Apollo said its partnership with Anchorage goes back to the middle of last year, when the company first started looking into how to best protect its customers' crypto assets. Apollo refused to specify what kinds of crypto assets it now owns. Apollo subsequently took part in the Series D investment round for Anchorage, which was completed in December 2021.


Adam Eling, chief operating officer of Apollo's digital assets division, stated, "We look forward to cooperating with Anchorage for the protection of client assets as we explore innovative ways to deploy blockchain technology throughout Apollo's company."


Mónica said that negotiations regarding how Anchorage can eventually strengthen its partnership with Apollo are already underway.


Christine Moy, a former executive at JPMorgan Chase who was recruited by Apollo in April, will oversee the company's digital asset strategy and play a crucial role in its investment choices in cryptocurrencies, blockchain technology, and Web3, a decentralized version of the internet.

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