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Lenovo chief expects quick resolution to Sino-US trade war, sees only minor impact on its global operations

The head of China’s Lenovo Group is optimistic there will be a fast resolution to the ongoing trade war between the world’s largest two economies, though Yang Yuanqing says his company is not suffering much thanks to its large global presence.“We have heard a lot of positive messages or signals about achieving an agreement [between the US and China on trade] so definitely I think there will be good news not just for Lenovo but for most multinational companies,” the chairman and chief executive… Source link

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Vietnam 

Việt Nam’s economic freedom up 2.2 points: Heritage Foundation index – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam’s economic freedom score is 55.3, making its economy the 128th freest in the 2019 Index. Its overall score has increased by 2.2 points, with a sharp increase in fiscal health and higher scores for investment freedom, according to the Heritage Foundation’s Index of Economic Freedom. Economic freedom is the fundamental right of every human to control his or her own labour and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way…

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Vietnam 

Kookmin Bank opens first branch in Hà Nội – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Hur Yin, CEO of Kookmin Bank, speaks at the opening ceremony. — VNS Photo Hải Thanh Viet Nam News HÀ NỘI — Kookmin Bank (under Korean KB Group) opened its first branch in Hà Nội on the 25th floor of Landmark72 building on Wednesday after having received approval from the State Bank of Việt Nam. Kookmin Bank will provide financial services to Korean Corporations and continuously promote investment in northern Việt Nam. It also plans to develop financial services for individual Vietnamese customers by developing a digital banking service.…

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China’s venture capital firms outperform US, European peers amid breakneck economic growth in the past two decades

Chinese venture capital funds have outperformed those in the US and Europe in the last 20 years, as the country’s breakneck economic growth has given impetus to the rapid expansion of the industry, according to analysts.Nevertheless, the sector is forecast to face major upheaval in 2019, with many smaller funds expected to collapse as winter sets in for the capital market amid a deepening economic downturn.Chinese VC funds delivered an overall return of 1.79 times in the period from 1997 to… Source link

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Bytedance said to be sounded out by authorities about listing on Shanghai’s new tech board

Beijing-based Bytedance, operator of global short video hit app TikTok, known as Douyin in mainland China, has been contacted by authorities for a potential listing on the much-anticipated Technology Innovation Board in Shanghai, according to people familiar with the matter.The seven-year-old start-up started talks with investment banks about its IPO plans last summer. Before the option of listing on the new Shanghai tech board came up, Bytedance was considering either New York or Hong Kong,… Source link

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Singapore 

Secondary school students cause mischief at Starbucks, employee appears to flip drink in retaliation , Singapore News

A video involving an exchange between students from Woodlands Ring Secondary School (WRSS) and an employee from Starbucks is going viral on Instagram.  Uploaded yesterday (Feb 20) on the ‘netizensofs1ngapore’ account, the video titled “Starbucks employee no manners” has received more than 50,000 views and over 1,000 comments as of writing. It is not clear when the incident occurred. According to the caption, a student instructed the employee to write “Fairprice” on his cup. In case you’re not aware, it is common practice for Starbucks to write their customers’ names on the cups. They…

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Vietnam 

Metfone revenue tops $2.2 billion over 10 years in Cambodia – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Metfone, the first telecommunications brand of Viettel in an overseas market, posted an accumulated revenue of more than US$2.2 billion in its first 10 years of operation. Its accumulated profit reached $300 million and the earnings before interest, tax, depreciation and amortisation (EBITDA) has been maintained at a high level. By the end of 2018, Metfone had helped Viettel pay back its dividend of nearly $250 million, nearly six times higher than the investment capital. The results were announced at a…

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Hong Kong’s monetary chief Norman Chan to retire at the end of his contract in September, sources say

Norman Chan Tak-lam, the chief executive officer of Hong Kong’s de facto central bank, will retire in September upon the expiry of his contract, several sources familiar with the matter told South China Morning Post. Chan, who turns 65 in October, will retire this year, ending his decade-long tenure as the central banker of the city, the sources said. Soon after he became HKMA chief executive in October 2009, he introduced eight rounds of mortgage tightening measures on banks to better… Source link

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Vietnam 

January auto imports 46 times higher than last year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Cars at the Chu Lai-Trường Hải Automobile Manufacturing and Assembly Complex in the central province of Quảng Nam. — VNA/VNS Photo Viet Nam News HÀ NỘI — Việt Nam imported nearly 11,700 cars worth more than US$273 million in the first month of this year, marking the fifth consecutive month with a volume of at least 10,000 units, according to statistics from the General Department of Customs. This figure is about 46 times higher than in January last year, which saw particularly low import numbers – just 246…

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Standard Chartered to set aside US$900 million for potential fines in US, UK inquiries

Standard Chartered said on Thursday that it planned to set aside US$900 million in the fourth quarter to cover potential fines for its past conduct after regulators in the United Kingdom indicated they planned to fine the bank.The bank, which is based in London but generates much of its revenue in Asia, has faced scrutiny from regulators over its prior dealings with clients facing US sanctions, paying a US$1.9 billion settlement in 2012.It said on Thursday that the UK’s Financial Conduct… Source link

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