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Baidu falls further behind among China’s biggest tech firms as Meituan, NetEase overtake in market value

Baidu Inc. has fallen out of the top five most valuable publicly traded Chinese internet companies after its market capitalisation slid below that of gaming and e-commerce pioneer NetEase Inc.After a 40 per cent slide in its share price this year, Baidu’s market valuation stood at US$33.2 billion at the close of trading on Wednesday, compared with US$33.5 billion for NetEase, whose shares have risen by 11.4 per cent in the same period. Baidu declined to comment on its market valuation.Baidu… Source link

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Birmingham’s rising potential finds favour among foreign property investors who find London overpriced

Birmingham, the second-largest city in England, is increasingly attracting overseas property investors, as they find London overpriced. Among them is Hongkonger Jabbie Yip, who bought three homes in Birmingham, about 162km northwest of the British capital. “These are long-term investments,” said Yip, 45, who also owns two flats in Hong Kong. “London, even if prices have declined by 10 per cent since Brexit, is still two and a half times more expensive than Birmingham.” The businessman bought… Source link

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China’s Kuaishou, TikTok close gap with YouTube among highest-grossing video apps

Popular short video-sharing platforms Kuaishou and Douyin – known outside China as Kwai and TikTok, respectively – closed the gap behind YouTube to rank among the world’s highest-grossing photo and video apps in the second quarter of this year.The latest quarterly rankings, announced in a blog post on Friday by app analytics firm Sensor Tower, showed Kuaishou keeping its runner-up spot even though 99 per cent of its revenue was generated from its home market.Fast-growing Douyin, which has a… Source link

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Singapore 

Dragon playground, Ah Meng among local icons depicted in Orchid Extravaganza at Gardens by the Bay, Singapore News

SINGAPORE – For local fashion designer Yang Derong, the vintage dragon playgrounds once ubiquitous in the 1980s bring back fond childhood memories. The iconic playground is his personal favourite out of the handful of Singapore icons that inspired this year’s Orchid Extravaganza to celebrate National Day. Mr Yang, 54, who is also art director for this year’s National Day Parade, designed the floral display housed in the Flower Dome at Gardens by the Bay. Splashed in bold, vibrant colours, the display boasts familiar symbols of Singapore culture – such as…

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China 

Bankruptcies among Chinese developers are up by a half amid slowing economy, restrictions on borrowing

The number of Chinese property developers going out of business as they find themselves struggling to borrow money amid a slowing economy has gone up by half, according to official figures.So far this year, 274 builders have filed for bankruptcy, a rise of 50 per cent from a year ago, according to the website of the People’s Court Daily, a state-owned publication.A recent, high-profile example was Yinyi Group, a developer in the Chinese port city of Ningbo, which filed for bankruptcy… Source link

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Property 

Macau’s first-half home sales plunge as US-China trade war dampened sentiments among investors and developers

Macau’s residential property market has fallen victim to the protracted US-China trade war, as investor sentiment sours and developers hold off on new projects.Home sales in the world’s largest gambling hub, which sits off the coast of southern China, plunged 42.2 per cent in the first half from the same period a year earlier, to 3,920 registered transactions, said JLL, citing statistics from DSF, the financial services bureau of the Macau government.The value of properties sold also was… Source link

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To tackle unemployment among graduates and youth anger, invest in innovation and education

The expansion of university education in the last few decades has enabled millions of school leavers to continue their education in university. This is to be applauded. However, it has given rise to a new problem. Millions upon graduation cannot find the jobs they are trained for. This is part of their frustration and anger with the government and society.There are two sides to the problem. From the supply side, with the mushrooming of universities, especially profit-oriented ones, their… Source link

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Among the world’s biggest companies, CEOs are spending less time at the top, while instances of ethical failings are on the rise, survey finds

In the executive suite of the world’s largest listed companies, the length of time top corporate leaders can be expected to remain at the helm has fallen to a multi-year low, while the percentage being ousted for unethical conduct is at its highest since the turn of the millennium, according to a survey by PwC.Among the world’s 2,500 largest public companies, 17.5 per cent changed their chief executive last year, reflecting the highest turnover rate recorded since 2000, according to PwC’s 2018 … Source link

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Liquor, casino stocks among losers as profit-taking pushes down Shanghai, Hong Kong benchmarks again

Mainland and Hong Kong shares fell again Thursday, as traders bailed out of liquor, oil and casino stocks on a day with no big policy news out of Beijing or signs of progress on the US-China trade war.The Shanghai Composite Index fell 1 per cent to 2,901.18, dragged down by information technology stocks, though all sectors were down. It was the third straight day of losses for the benchmark.Meanwhile, the Hang Seng Index closed down 0.5 per cent to 28,461.66, falling for a second day. Losers… Source link

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Chinese investors find a captive rental market among fellow mainlanders for their German residential properties

Chinese executives are buying property in Germany to rent to fellow employees relocating to Europe’s top economy, but it is only a matter of time before mainland companies invest themselves, mimicking the likes of Facebook and Google to attract and retain talent, say market observers. “In Munich we advised a Huawei executive in purchasing four one- to two-bedroom apartments of up to €500,000 (US$563,110) [each], only to rent to other Chinese employees working at Huawei’s European Research… Source link

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