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Uncertainty hangs over Foxconn’s newest China factory as trade war and economic slowdown take a toll

When ground was broken in March 2017 for a new US$9 billion factory owned by a subsidiary of Foxconn Group, the event was witnessed by then Guangdong party secretary Hu Chunhua and Terry Gou Tai-ming, the Taiwanese billionaire who created Foxconn, the world’s largest assembler of Apple’s iPhones and tablets.The plant was hailed by local media as an example of Chinese efficiency in promoting investments that matter for the future and the country’s key role in the global value chain.The Southern… Source link

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Money 

China changes the way bank loan rates are set, with HSBC left out of rate-setting club

China has changed its system for deciding bank lending rates so that the central bank can effectively influence and control interest rates, a significant move in the world’s second-biggest economy.The change – part of China’s long-standing pursuit of a market-based central banking structure – comes as the country’s economic growth is losing steam amid a protracted trade war with the United States and as Beijing seeks to cut financing costs for struggling small firms.Under the new system, a club… Source link

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Singapore 

10 design firms that create contemporary homes in Singapore, Lifestyle, Singapore News

#TeamContemporaryHomes, where you at? A contemporary and a modern home is not one and the same. The modern concept borrows from a time that has already passed (i.e. styles from the 1950s and 1960s) while contemporary design is all about the present – think sleek and on-trend finishes. Because contemporary interiors follow what’s in vogue, they are highly sought after in Singapore. That being said, we’ve done the legwork for you and put together a list of interior firms that specialise in creating these fashionable spaces. 1. ICON INTERIOR DESIGN…

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Buyers shrug off Hong Kong rallies to snap up Aurora flats in Tsuen Wan, offered at 10 per cent discount to the neighbourhood

Homebuyers shrugged off a downpour and Hong Kong’s 11th week of street protests to snap up the flats offered at a discount by Billion Development & Project Management in Tsuen Wan.Billion sold 300 flats, or 85 per cent of the 354 available units on offer at The Aurora as at 5pm, sales agents said, adding that they expect the project to sell out by the end of the day.Prices at The Aurora start at HK$3.81 million (US$485,720), or HK$17,558 per square foot, for a 217-square foot (20 square metre)… Source…

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Huawei is said to win another 90 days reprieve to buy from American suppliers

The US Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from US companies so that it can service existing customers, two sources familiar with the situation said.The “temporary general license” will be extended for Huawei for 90 days, the sources said.Commerce initially allowed Huawei to purchase some American-made goods in May soon after blacklisting the company in a move aimed at minimising disruption for its… Source link

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Singapore 

Employment practice watchdog looking into Nas Daily’s Facebook post recruiting Vietnamese for Singapore team, Singapore News

SINGAPORE – Employment practice watchdog the Tripartite Alliance for Fair and Progressive Employment Practices (Tafep) said that it is looking into a Facebook post by video blogger Nuseir Yassin that calls for a Vietnamese person to apply for a job in his Singapore company. Mr Yassin, popularly known as Nas, said in a Facebook post on Monday (Aug 12) that he was looking for a Vietnamese person to join his team in Singapore. “I’m looking for the best video maker in Vietnam to join me in a full-time position. You…

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Vietnam 

Vietjet named in Forbes’ top 50 listed Vietnamese companies – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Vietjet representative (centre) receives the Forbes award. — VNS Photo HCM CITY — Vietjet Aviation Joint Stock Company (HOSE code: VJC) was recognised as one of Việt Nam’s 50 best listed companies in 2019 by Forbes Magazine during an award ceremony in HCM City on Thursday. This year’s list also including other leading companies on the HCM Stock Exchange (HOSE) and Hà Nội Stock Exchange (HNX) such as dairy firm Vietnamilk, beer maker Sabeco, IT giant FPT Corp, DHG Pharmaceutical, insurance-finance group Bảo Việt, digital retailer Mobile World and realty developer Vingroup. Honoured companies this…

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Singapore 

Cristiano Ronaldo unveiled as Shopee’s latest brand ambassador, Singapore News

SINGAPORE – The lid has finally been lifted off Cristiano Ronaldo’s mystery appearance in Singapore early last month. On Friday (Aug 16), e-commerce platform Shopee announced its partnership with the football superstar, unveiling him as its newest brand ambassador. The Juventus player had caused a stir at Our Tampines Hub on July 3, arriving at the facility for an unspecified engagement. Hundreds of fans gathered at the building to catch a glimpse of the five-time Ballon d’Or winner, though no details were released. It is now believed he was engaged…

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Singapore 

Website uses ‘highly deceptive, misleading’ information attributed to PM Lee Hsien Loong to solicit investments: MAS, Singapore News

SINGAPORE – The Monetary Authority of Singapore (MAS) has cautioned the public about a website soliciting investments in bitcoins by using fabricated comments from Prime Minister Lee Hsien Loong. Information on the website is “highly deceptive and misleading”, said MAS on Friday (Aug 16), adding that comments on the fake website attributed to PM Lee are completely false.  The website is also designed to look like it is linked to Singapore Press Holdings. MAS said: “The site tries to get readers to provide credit card or bank account information. It…

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Vietnam 

HCM City’s investment stimulus programme yields solid results – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Nguyễn Thành Phong (C), chairman of the city People’s Committee, speaks at the seminar to review the city’s investment stimulus programme in HCM City on Thursday. — VNS Photo HCM CITY — It has been a remarkable transformation for HCM City’s People’s Hospital 115 which recently became the first medical facility in the country to successfully carry out a robotically-assisted brain tumour surgery. Thirty years ago, its only piece of equipment had been an x-ray machine. It currently gets 3,000 to 4,000 patients a…

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