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Expat bankers struggle to find new jobs in Hong Kong as cost-cutting and demand for Mandarin speakers change labour market

For years, Hong Kong was a hot spot with plum jobs for overseas bankers as global firms hired aggressively. But many recently laid-off bankers in the city are finding that cost-cutting and a demand for Mandarin speakers have diminished the opportunities for expats in Asia’s financial hub.After Deutsche Bank announced plans for wide-ranging cuts this week, many employees worldwide are facing the challenge of job-hunting in a shrinking market. For foreign staff losing positions in Hong Kong, it… Source link

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US trade tariffs can’t change the fact that China is the world’s manufacturing superpower

Businesses can be relieved the United States and China are once again returning to the negotiating table, following a seven-week stalemate that had put significant pressure on both Chinese manufacturers and US importers.Although the truce has averted new US tariffs on an additional US$300 billion of Chinese goods, past rounds of tariffs remain in effect and there is no indication that the trade war will end any time soon. The uncertainty makes it critical for businesses to have dynamic,… Source link

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Asia, impact investing to gain as US$15 trillion change hands among world’s wealthiest families over next decade

Asia and impact investing look to gain as wealth is transferred between generations among the world’s wealthiest families over the next decade.As much as US$15.4 trillion will be passed down from one generation to the next until 2030, according to Global wealth researcher Wealth-X. The company looked at people holding US$5 million in assets or more, which amounted to 2.6 million people collectively holding US$57 trillion in assets.The biggest transfers are expected to take place in Europe and… Source link

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China’s high-speed rail network has been low speed in adoption – but that’s set to change

China’s expensive and underused high-speed rail network is beginning to see the light at the end of the tunnel.It can thank rapid urbanisation, growing wanderlust and rising incomes, which are combining to put success of the world’s largest high-speed rail network on track, experts say.“In our view, urbanisation and changes in travel behaviour make it a necessity to have even more rail infrastructure in place,” Lesley Liu, infrastructure and industrial research analyst at HSBC, wrote in a… Source link

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Ecommerce 

Digitisation will bring fundamental economic change and China can set an example, says Alibaba’s CEO

The digital economy has the power to bring “fundamental change” to how economies and businesses operate, according to Daniel Zhang Yong, chief executive of e-commerce giant Alibaba Group Holding.“Generally speaking, China’s infrastructure was not ready … so when the digital economy came along there was an opportunity to rebuild the infrastructure based on the most advanced technology, and apply this infrastructure in all business areas,” Zhang said at a two-day conference hosted by the Luohan… Source link

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China considers unwinding rules it put in place after the last equity market crash; proposed change to ease company fundraising

China’s securities regulator is considering scrapping profitability requirements in mergers and acquisitions (M&A) for listed companies, as a way to facilitate secondary fundraising as the trade war weighs on Chinese growth and threatens to push the global economy into recession next year.Under consideration is an amendment to remove profitability requirements in M&A deals involving listed companies, the China Securities Regulatory Commission (CSRC) said in a statement issued on its official… Source link

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Typhoon season is round the corner and climate change is upon us – there’s no better time to get into green finance

A harbourside commercial building had its windows blown out when Super Typhoon Mangkhut made landfall in Hong Kong on September 16, 2018. Flooded homes, damaged infrastructure, disrupted supply chains and higher insurance premiums are some of the effects of climate change we need to plan for. Photo: AFP Source link

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Vietnam 

Rubber exports see little change in first five months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A rubber plantation in Bình Phước Province. Việt Nam’s rubber exports increased marginally in the first five months of the year. — VNA/VNS Photo HCM CITY — Việt Nam earned US$662 million from rubber exports in the first five months of the year, a year-on-year increase of 2.4 per cent, according to the Ministry of Agriculture and Rural Development. China, India and South Korea were three biggest buyers, it said. Exports to…

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Tencent to change marketing strategy after Honour of Kings flops abroad

When Chinese internet giant Tencent Holdings made its first big foray overseas with an adaptation of its blockbuster mobile game Honour of Kings in the summer of 2017, executives thought they had a sure-fire success on their hands.The multiplayer role-playing game, in which players hack and slash their way through battle arenas, had 55 million daily active users in China and was raking in roughly US$145 million a month, making it the company’s top-grossing game.But missteps in development and… Source link

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The US is still outperforming its competitors in global markets, but a rising dollar and the prospect of Trump being re-elected could change that

On Tuesday, the euro zone, which has supplanted China as the main source of concern about the health of the global economy, received a much-needed boost following the publication of data that showed the bloc expanded by 0.4 per cent quarter on quarter in the first three months of this year. Not only was the euro-zone’s growth rate twice the pace in the final quarter of last year, it stemmed partly from an unexpected rebound in Italy – the most vulnerable of Europe’s largest economies – which… Source link

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