China 

China’s online army shows foreign brands who’s in charge

As geopolitical storm clouds gather, China’s most powerful weapon may not be tariffs or riot police, but ordinary consumers at their keyboards.Beijing is increasingly finding itself under siege as US President Donald Trump’s trade war squeezes the world’s second-largest economy and protests in Hong Kong call into question China’s hold over the territory.But as it has in the past, China is finding support from an increasingly nationalistic online community, who use the pitfalls of multinational… Source link

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China 

New IMF report doesn’t back Donald Trump’s currency manipulation charge against China

This story is published in a content partnership with POLITICO. It was originally reported by Doug Palmer on politico.com on August 9, 2019.The International Monetary Fund on Friday provided little or no support for US President Donald Trump’s assertion that China is manipulating its currency for an unfair trade advantage.In an annual review of China’s economic policies, the IMF said Beijing actually took steps last year to prop up the value of its currency after the renminbi declined against… Source link

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Singapore 

Fire breaks out in Ang Mo Kio HDB flat after PMD left to charge in kitchen, Singapore News

SINGAPORE – A personal mobility device (PMD) left to charge in an Ang Mo Kio flat early on Monday (July 22) exploded in the afternoon, causing a fire that destroyed the flat and damaged two neighbouring units. The e-scooter belonged to the fiance of the woman living in the rental flat who had charged his device in the kitchen before they both left for work. But between 2pm and 3pm, the woman’s older brothers, Mr Mohamad Fazir, 30, and Mohamad Fazrim, 26, who were in house at the time, heard…

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Singapore 

ERP charge to go up by $1 at two gantries from May 6, Singapore News

SINGAPORE – Car drivers will have to pay $1 more at two Electronic Road Pricing (ERP) gantries during their morning commute from next Monday (May 6). Those heading for the city on the Central Expressway (CTE) will have to pay $2, up from $1, at the gantry before Braddell Road between 8.30am and 9am. As for those using the Kallang-Paya Lebar Expressway (KPE), their ERP charge on the stretch after Defu Flyover will increase from $3 to $4 between 8am and 9am. The Land Transport Authority (LTA) announced these changes…

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Home 

Singaporean real estate investors are leading the Asian charge deeper into Europe as Chinese firms lie low

Last Tuesday, the real estate arm of Singapore Press Holdings (SPH), one of Asia’s leading media companies, announced that it had acquired £134 million (US$174 million) worth of student housing assets in three cities in Britain – Southampton, Sheffield and Leeds – in a deal that increases the size of its United Kingdom university accommodation portfolio to more than 5,000 beds in 10 cities, making SPH one of the leading players in the popular asset class. The transaction is the latest in a… Source link

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Home 

Shanghai bulls charge ahead, giving benchmark 2.7 per cent weekly gain

China’s stocks rose on Friday, with the benchmark gauge capping a second weekly gain, as traders bet that the world-beating rally on the world’s biggest emerging market will carry on.The Shanghai Composite Index added 0.1 per cent, or 2.69 points, to 3,104.15 at the close, adding to a 2.7 per cent gain this week. Hong Kong’s Hang Seng Index also rose slightly.The mainland’s equity benchmark has eked out gains every week this year except one, rising 24 per cent this year as the world’s best… Source link

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Home 

Standard Chartered’s 2018 results miss analysts’ forecasts after taking a massive charge for penalties over past conduct

Standard Chartered, one of three banks licensed to print Hong Kong’s currency notes, missed analysts’ estimates with its full-year financial results after taking a charge for potential fines that are liable under US sanctions law.The bank’s underlying pre-tax profit rose to US$3.86 billion last year, missing a consensus forecast of US$3.98 billion by 3 per cent. Operating income was US$14.97 billion for the year, missing estimates of US$15.02 billion, while net profit fell 13 per cent to US$1.1… Source link

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Home 

Foreign investors charge into China’s commercial real estate as credit squeeze hurts domestic developers

China’s commercial real estate investment rose to a record 296 billion yuan (US$44.08 billion) in 2018, as the gap left by cash-strapped local investors was closed by overseas investors who jumped on acquisition opportunities, according to real estate service firm Cushman & Wakefield. The 9.5 per cent rise in commercial property investment from a year earlier – a slowdown from 30 per cent surge in 2017 – comes against a backdrop of international trade frictions, a regulatory clampdown on lending, and a cooling domestic economy. The credit squeeze weighed negatively…

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Singapore 

When some eateries charge for iced water, this restaurant’s kind gesture is truly refreshing, Singapore News

On a hot humid day in Singapore, sometimes all we want to do is enjoy a cup of refreshing ice cold water. Stomp contributor Nayana felt the same way on New Year’s Day (Jan 1) while walking in the vicinity of Bukit Timah Nature Reserve. It was a sweltering afternoon at about 12.27pm when he spotted a sign which read “Free Iced Water”, outside the Spruce@Firestation restaurant. He approached the signage and found a water dispenser and cups. He took a closer look at the sign, which also read: “For…

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Singapore 

Additional $5 charge for indiscriminately parked shared bikes from Jan 14, Singapore News

SINGAPORE – From Jan 14, people who park shared bicycles outside of designated parking areas will be charged $5 on top of the rental amount, as part of efforts to stamp out indiscriminate parking. The Land Transport Authority (LTA) announced on Thursday (Dec 27) that users will not only have to lock the bikes, but also scan a quick response (QR) code at these parking areas to end their journeys. The $5 charge is in addition to the fares paid for the trip. For example, a 30-minute ride on an…

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