Home 

Boeing’s woes fuel Washington’s fears of the age of the made-in-China plane

Boeing’s crisis over the global grounding of its 737 MAX 8 jet, following plane crashes in Indonesia and Ethiopia, has set the scene for the next dreadful twist of the United States’ trade war with China, and worsened the almost-existential threat Washington feels from Beijing’s “Made in China 2025” strategy.At a point when the dispute over Chinese tech giant Huawei and the security challenge it poses still has far to run, the planemaker’s crisis has turned the spotlight on a second flashpoint:… Source link

Read More
Home 

Hong Kong broadcaster TVB warns it will lose HK$200 million for 2018 financial year

The parent company of Hong Kong’s oldest television station issued a profit warning on Friday, saying it expects a HK$200 million (US$25.48 million) net loss for the financial year ending December 31, 2018.Television Broadcasts (TVB) said in a filing to the Hong Kong Stock Exchange after the close of trading it will write-off approximately HK$500 million on its holdings of SMI Bonds, issued by mainland theatre operator SMI Holdings Group.The expected HK$200 million loss compares to a HK$243… Source link

Read More
Home 

Pork producer WH Group calls for end of trade war, as 2018 profit drops 4 per cent

China’s WH Group, the world’s largest pork producer, called for an end to the US-China trade war on Friday, citing higher tariffs on US exports to China as one factor weighing negatively on its underlying business.The outbreak of the African swine fever and rising meat production in the US were also negative headwinds, the company said.Net profit for 2018 fell 4 per cent to US$1.05 billion, WH Group said in filing on Friday.Revenue was up 1 per cent to US$22.61 billion, slightly beating… Source link

Read More
Singapore 

#Joeyjios: Over 800 Gudetama, My Melody and Hello Kitty inflatables invade Sentosa – but is it worth checking out? , Singapore News

The March holidays are just around the corner, and if you’re a parent, you’re probably already aware that the annual Sentosa FunFest is back for their fifth run. Complete with free admission for Singapore residents from March 16-24, this year’s event includes an “invasion” by over 800 Gudetama, My Melody and Hello Kitty inflatables. Yes, they’ll be perfect for your critters to jump on and those IG-worthy family pictures to show off on Facebook. But for those without a mini-me, is the inflatable-mania worth braving the heat and making a trip…

Read More
China 

Big companies on alert in countdown to China’s consumer rights TV show

China is gearing up to skewer companies it accuses of treating consumers badly in a yearly event that has previously named and shamed firms from Apple to Nike.State-run China Central Television (CCTV) will on Friday evening broadcast its annual consumer rights show, similar to CBS network’s 60 Minutes in the United States, that tends to be a mix of undercover reports and song-and-dance routine.Known as “315”, in reference to global consumer rights day on March 15, the show is usually greeted… Source link

Read More
China 

Chinese Premier Li Keqiang says foreign investment law shows Beijing is serious about opening economy further

The passage of the new foreign investment law shows China is serious about addressing foreign investors’ concerns, as it continues to open up its domestic market, Chinese Premier Li Keqiang said on Friday.But while foreign observers agreed the law is a step in the right direction, concerns remain that it does not go far enough. There is also widespread doubt among the foreign business community that it will be effectively implemented.In total, 2,929 lawmakers at the National People’s Congress … Source link

Read More
China 

China will not ‘discriminate’ between state and private companies, vows Premier Li Keqiang

China will not “discriminate” between state owned and private companies, with Premier Li Keqiang vowing to roll out a series of measures to alleviate some of the burdens felt by the private sector including lowering the cost of financing.“We will ensure all companies benefit from our administrative streamlining measures. There should be no discrimination,” Li said at the conclusion of the National People’s Congress (NPC) in Beijing on Friday.“Through years of efforts, we have cut the time… Source link

Read More
China 

Li Keqiang says it’s time for Chinese government to ‘turn the blade inward’ to boost jobs growth

China has pledged to create more than 11 million new jobs this year – equivalent to the population of Belgium and more than that of Hong Kong – as it tries to ensure social stability amid an economic slowdown and rising tensions with foreign countries.Wrapping up the annual legislative sessions on Friday, Premier Li Keqiang said Beijing was aware of the downward pressure from the economy, with GDP growth slowing to 6.6 per cent last year – its weakest pace since 1990.But he ruled out any… Source link

Read More
Home 

More prudent regulations to come for China’s sharing economy, says Premier Li Keqiang

Chinese Premier Li Keqiang says more prudent regulations will need to be adopted to help grow the country’s sharing economy, which has sparked public concern after years of being a magnet for major venture capital investments.“Like any new business, [the sharing economy] has its ups and downs,” said Li in a press conference on Friday to mark the conclusion of the annual gathering of China’s parliament. “But in general, it creates jobs, brings convenience to people and drives the development of… Source link

Read More
Singapore 

Daughter of Hour Glass founders loses appeal, to start jail term for drug abuse next month, Singapore News

SINGAPORE – Audrey Tay May Li, 45, the daughter of the founders of luxury watch retailer Hour Glass, will start her jail sentence for drug abuse next month after her appeal was dismissed by the High Court on Friday (March 15). In October last year, Tay was sentenced to 22 months’ jail for repeatedly abusing drugs for two years. On one occasion, she had turned up intoxicated for a psychiatric assessment at the Institute of Mental Health. The former public relations consultant, who is divorced, was arrested in August 2015…

Read More