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South Bank leading Central London property investment

[Sponsored Article] A narrow strip of theaters, galleries and gardens just across the river from Parliament, London’s South Bank has been the city’s sophisticated cultural hub since 1951. Today, ongoing investment in offices and luxury residential schemes is creating more opportunities to live, work and invest in this dynamic part of prime Central London. Property investment in South Bank totaled almost £1 billion last year, with commercial leasing almost doubling from Q4 2017 to Q4 2018 and… Source link

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Vietnam 

Central province eyes $287m cement factory – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    During the meeting in May, the provincial People’s Committee chairman Thái Thanh Quý granted approval in principle for the investor to develop the factory, which is part of the development strategy for the cement industry to 2030, approved by the Prime Minister. Photo baonghean.com   HÀ NỘI — Vicem Hoàng Mai Cement Joint Stock Company plans to build a cement factory, with the first phase expected to cost more than VNĐ6.67 trillion (US$287 million), in the central province of Nghệ An. Covering 60ha in the province’s Hoàng Mai…

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China 

Central bank’s ‘tremendous room’ to adjust policy may be put to test as China’s economy slows

The boast by People’s Bank of China governor Yi Gang this month that he has “tremendous room” to adjust policy could soon be tested as the economy slows, throwing attention on the impact on the nation’s fragile currency and financial markets.Compared to European and Japanese peers, China does have more obvious policy space. Its benchmark one-year lending rate has stayed at 4.35 per cent since 2015, far above zero. The Federal Reserve’s dovish turn also eases the depreciation pressures on the… Source link

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China 

Chinese banks rejected nearly US$144 billion in loans last year using credit scoring system, central bank says

Chinese banks used the government’s new centralised credit scoring system to reject loan applications worth nearly 1 trillion yuan (US$144 billion) last year, the People’s Bank of China reported Friday, showcasing that its deleveraging campaign to reduce high debt and risky lending is succeeding.In total, 21 banking institutions rejected loan applications worth 911.7 billion yuan (US$131.7 billion) from “high risk” customers, while also receiving alerts on outstanding “high risk” loans worth 1… Source link

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Global 

Trade war with US could spark global financial ‘chaos’, warns former China central bank governor

China’s former central bank governor has warned that the ongoing trade war could cause financial “chaos” to the global financial order should emerging markets who rely on exports try to claim a share of the new openings in the United States and China by opting for a series of currency devaluations.Zhou Xiaochuan believes that countries caught up in the trade war may have no choice but to devalue their currencies to gain trade advantages, or “competitive devaluations”.In late May, Zhou dismissed… Source link

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Vietnam 

Central bank unveils monetary policy for H2 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Customers make transaction at Bảo Việt Bank in Hà Nội’s Trần Hưng Đạo Street. — VNS Photo Trương Vị HÀ NỘI — The State Bank of Việt Nam (SBV) will continue to follow a pro-active, flexible and cautious monetary policy as well as working in close conjunction with fiscal and other policies to control inflation, sustain the macro-economy and support economic growth in the second half of this year. SBV Deputy Governor Nguyễn Thị Hồng made the statement at a conference to review the SBV’s monetary policy…

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China 

Indonesia benefiting as China’s shoemakers shift production as US trade war worsens, central bank official says

Indonesian exports are gaining market share in the United States in some sectors as supply chains shift away from China’s manufacturing base to the Southeast Asian nation, even though the trade war has hurt more than benefited emerging economies, said Bank Indonesia deputy governor Dody Budi Waluyo.In particular, Indonesian footwear exports to the US are seeing “some progressive performance”, Waluyo said.In the first four months of 2019, Indonesia exported footwear worth US$559.91 million to… Source link

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Vietnam 

Central province approves hi-tech farming project – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Attracting hi-tech and safe agricultural projects has opened a new direction for Quảng Ngãi’s agricultural sector, helping it develop safe and organic agricultural production, heading towards sustainable development. baodantoc.com.vn HÀ NỘI — Quảng Ngãi High-Tech Agricultural Joint Stock Co under Trần Việt Group got approval in principal from the Quảng Ngãi People’s Committee to develop a hi-tech farming project in the locality. The project, expected to cost about VNĐ294 billion (US$13 million), will cover 196ha in Mỗ Đức District. It will also include an agricultural processing…

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Stores close early, security heightened in Central as Hong Kong protesters clash with police

Dozens of retail stores closed their doors and some office workers were given the option to go home early in the Central area of Hong Kong Island as protesters blocked roads and clashed with police over a proposed extradition law on Wednesday.Security was also visibly heightened outside the offices of many financial companies after police fired tear gas to disperse protesters who surrounded Hong Kong’s legislative offices, evoking memories of the Occupy Central movement nearly five years ago… Source link

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China 

Constructive US Treasury Secretary Steven Mnuchin has ‘candid’ trade discussion with China’s central bank chief Yi Gang

US Treasury Secretary Steven Mnuchin said he held a “candid” discussion about trade with China’s central bank governor Yi Gang on Sunday, as the tariff war between the world’s two biggest economies rages on.The pair met on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting in Fukuoka, Japan. It was the first face-to-face meeting of senior officials from the US and China since trade negotiations faltered last month.“Had constructive meeting with PBOC [People’s Bank of… Source link

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