Xiaomi

Smartphone maker Xiaomi's market value has exceeded the US$100 billion (S$133 billion) mark, a figure the firm fell far short of when it listed two years ago.

The shares rallied as much as 9.1 per cent yesterday to a new high in Hong Kong, making it the 13th stock in the Hang Seng Index with a market capitalisation above US$100 billion.

It ended the day 7.6 per cent higher, with a market value of HK$802 billion (S$138 billion).

BLOOMBERG

Allianz

Allianz's real estate unit will take a majority stake in a portfolio of buildings owned by British Land in London's virus-roiled West End district.

The insurance giant is paying £401 million (S$718 million) for a 75 per cent interest in the properties in Marylebone. The deal is due to complete next month.

It is the latest sign of global investors willing to bet on the long-term resilience of the world's biggest business districts even as the coronavirus pandemic has reduced their appeal.

BLOOMBERG

Airbus

Airbus said it stands to lose over US$5 billion (S$6.7 billion) worth of orders if AirAsia X's debt restructuring scheme goes through, court documents showed. It joins over a dozen creditors that have challenged the Malaysian low-budget carrier's plan.

Airbus' challenge comes as AirAsia X is defending its scheme from claims by key lessor BOC Aviation that it favoured Airbus and lacked a debt-to-equity swap offer for creditors. Airbus said in a Dec 16 affidavit filed in Kuala Lumpur that there was a strong possibility Airbus "will suffer substantial losses and prejudice" from termination of purchase agreements.