China 

Shanghai offers cash incentives of up to US$8.5 million to lure financial institutions to Lingang free-trade zone area

Shanghai is offering cash subsidies of up to US$8.46 million to financial institutions that set up branches in the new part of its expanded free-trade zone, as the city strives to create a buzzing free-market hub to rival Hong Kong.The municipality announced on Friday that banks, insurers, brokerages, fund managers, trust firms and financial leasing companies would receive up to 60 million yuan (US$8.46 million) worth of subsidies to buy office properties in Lingang.Financial firms renting… Source link

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HNA’s cash pile shrinks 20 times faster than debt as the progress of the conglomerate’s asset sale drags on

HNA Group’s cash pile shrank 20 times faster than its debts, indicating that pressure is building for one of China’s most indebted conglomerates to speed up asset sales.Cash, equivalents and short-term investments as of the end of June tumbled 61 per cent from a year earlier, according to data derived from the Hainan-based Chinese group’s interim report released on Friday. By comparison, total debt fell 3 per cent.The figures illustrate how HNA’s liquidity challenges persist more than a year… Source link

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Vietnam 

VietinBank Securities to pay a cash dividend at 10 per cent rate – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  On the stock market, CTS closed Friday up 6.3 per cent to VNĐ9,500 per share. It has declined 11 per cent in less than 5 months. — Photo ttvn.vn HÀ NỘI — VietinBank Securities Joint Stock Company (CTS) plans to pay a 2018 dividend in cash at a rate of 10 per cent. Each shareholder with receive VNĐ1,000 per share, with the payout date September 27. With more than 106 million shares in circulation, CTS expects to spend more than VNĐ106 billion (US$4.5 million) for the payout, which will be funded by…

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Vietnam 

Vietnam Airlines launches cash and miles payment method – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The launch of this payment method allows Vietnam Airlines’ passengers to enjoy its 4-star services at attractive prices. Photo courtesy of Vietnam Airlines HÀ NỘI  Passengers can pay for Vietnam Airlines flights with a combination of cash and Lotusmiles when buying tickets from today. This scheme – the first of its kind in Việt Nam – is exclusively for Lotusmiles members purchasing tickets on the website or at its ticket offices, the airline said, adding that it is working to extend this payment method to its mobile app. Starting from 2,000 Lotusmiles…

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Vietnam 

Sabeco plans to pay 15% cash dividend in September – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Sabeco production line. The southern brewer plans to pay a 15 per cent dividend for 2018 performance in late September 2019. – Photo tapchitaichinh.vn HCM CITY – The Saigon Beer-Alcohol-Beverage Corporation (Sabeco) will pay every shareholder VNĐ1,500 (US$0.06) per share, or a 15 per cent cash dividend rate, to complete its 2018 dividend plan. The company will finalise the list of beneficial shareholders on September 6 and payment will be made on September 27. With more than 641.28 million shares listed on the Ho Chi Minh Stock Exchange…

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Hong Kong’s banks say they have adequate cash to meet demand, even as calls circulate online for protesters to empty out ATMs

Hong Kong’s biggest banks said they have enough currency notes on hand to handle any extraordinary increase in demand for cash, as calls circulated online for protesters to empty out automated teller machines (ATMs) to disrupt the banking system in Asia’s financial hub. HSBC, the largest of the city’s three currency-issuing banks, said it “has sufficient supply of banknotes and is committed to supporting its customers and the smooth operation of the financial system in Hong Kong,” according to… Source link

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Malaysia looks to woo Chinese cash with belt and road positivity

Malaysia intends to set up a special, government-helmed channel to facilitate more investment from China, Finance Minister Lim Guan Eng said on Thursday.“We wish to see an increase in Chinese investment with the setting up of a system,” he said after delivering a keynote address at a Malaysia-China Belt and Road Economic Cooperation Forum hosted by the Malaysia China Business Council.Malaysia’s Mahathir backs belt and road but insists on open trade routesMore details will be announced during… Source link

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Chinese cash: enough to keep East Timor out of Asean?

When work began on East Timor’s US$490 million deep water port, things went with a bang – literally.The government waived its regulations on explosions so that Chinese contractors could blast their way through a quarry in Tibar Bay, 10km west of the capital city of Dili, and launch in earnest a project aimed at strengthening trade links between Southeast Asia’s youngest nation and the wider region.To some ears, those explosions in mid-July were a sign of strength, a celebration of the fact that… Source link

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Australian casino giant Crown Resorts sees shares fall after reports Asian crime syndicate used it to launder cash

Crown Resorts may be investigated by Australia’s parliament after reports that an Asian crime syndicate allegedly laundered money through the Melbourne-based company’s casinos.The Age and The Sydney Morning Herald newspapers, along with the 60 Minutes television programme, reported at the weekend that Crown used junket operators with links to drug traffickers as it sought to bring high-roller Chinese gamblers to its Australian casinos.The reports, which cited unidentified law enforcement… Source link

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Vietnam 

Shares advance on strong cash flows – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Steel maker Hòa Phát Group gained 3.9 per cent to VNĐ22,400 per share and matched 9.5 million shares on Thursday. — VNA/VNS Photo  HÀ NỘI — Shares kept their upward trend on Thursday trading as cash flow continued to pour in ‘Vin’ stocks and many other large-caps. On the Hồ Chí Minh Stock Exchange, the VN-Index rose 0.66 per cent to 994.95 points. The index lost 0.11 per cent to close at 988.41 points on Wednesday. A total of 171.7 million shares worth VNĐ4.5 trillion (US$192 million) were traded in…

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