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China, US close to agreeing interim trade war deal, Beijing expert predicts

China and the United States are expected to reach an interim trade deal in Washington next month, with Beijing agreeing to buy more American farm products and the Trump administration postponing further tariff increases and easing restrictions on Chinese telecommunications company Huawei, a researcher affiliated with the Chinese government said.A Chinese delegation led by vice finance minister Liao Min left Beijing for Washington on Tuesday to set out China’s agenda for the high-level talks… Source link

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Asia trails the developed world in sustainable investment, but now looks poised to close that gap

Asia looks set to become a hotbed for sustainable investment, driven by structural economic factors, growing institutional allocations and tightening regulations.Investors in Asia have lagged behind their developed-market peers in terms of integrating environmental, social and governance (ESG) analysis into their decision-making and allocations.There are already several indicators pointing to a dramatic uptick in sustainable investment in Asia. Assets under the management of Asian signatories… Source link

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Chinese stocks close at highest in almost a month as MSCI raises weighting, industrial profits data improves

Chinese stocks climbed on Tuesday, with the Shanghai Composite Index gaining 1.4 per cent to close at its highest level in almost a month.Its gains contrasted with the Hang Seng Index, which ended virtually flat, as investors showed caution amid concerns about the city’s bleak growth outlook.The benchmark Chinese gauge closed at 2,902.19, the highest since August 1. The CSI 300, which tracks blue chips listed in both Shanghai and Shenzhen, also rose 1.4 per cent, to finish at 3,816.95.Profits… Source link

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Singapore 

DFS Singapore pulls out of Changi Airport, stores to close by June 2020, Singapore News

In a shock move, Duty Free Singapore Group – Changi Airport’s biggest and oldest tenant – is closing all its airport stores by June 2020 when its current lease expires. The Straits Times revealed DFS did not take part in the latest alcohol and tobacco concession bid which closed on Monday, 26 August. Hundreds are expected to lose their jobs as the 38-year-old tenancy agreement ends. In a statement issued to media, DFS group chairman and chief executive officer Ed Brennan said: “After careful consideration, DFS has decided not to…

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Singapore 

Three men arrested after fight breaks out at Redhill Close, Singapore News

SINGAPORE – Three men were arrested after a fight broke out between them at Redhill on Saturday morning (Aug 17). Police said they were alerted to a fray at Block 88 Redhill Close at about 11.30am. They arrested three men, aged between 17 and 55 years. A 55-year-old man was conscious when he was taken to Singapore General Hospital. The Straits Times understands that he was one of the three arrested. The police are investigating the incident. A video of the brawl, which is making the rounds on Facebook, shows two…

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Consumer stocks lift China and Hong Kong’s markets to close higher, reversing the declines during a tumultuous week

Consumer stocks lifted Chinese and Hong Kong indexes on Friday, as investors are betting that the Chinese government will dip into its coffers to provide financial stimulus to keep the economy growing.Hong Kong’s Hang Seng Index rose 0.9 per cent to close at 25,734.22 on Friday. The gauge fell 0.8 per cent during the week, the fourth week of declines, weighed down by lacklustre corporate earnings and the impact of escalating protests that earlier brought the city’s airport to a standstill for… Source link

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China 

China close to launching its own cryptocurrency, says central bank, amid pressure from Facebook’s Libra

The People’s Bank of China is “close” to issuing its own cryptocurrency, according to a senior official.The central bank’s researchers have been working intensively since last year to develop systems, and the cryptocurrency is “close to being out”, Mu Changchun, deputy director of the People’s Bank of China (PBOC)’s payments department, said at an event held by China Finance 40 Forum over the weekend in Yichun, Heilongjiang. He did not give specifics on the timing.Mu repeated the PBOC’s… 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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Standard Chartered, Hang Seng Bank close branches as citywide strike, protests wreak chaos in Hong Kong

Some of Hong Kong’s biggest banks closed branches on Monday as strikes and protests brought large parts of the city to a standstill.HSBC Holdings said it had closed 10 of its branches at 2.30pm. Hang Seng Bank, a subsidiary of HSBC, said it had shut five branches for the whole day, while 15 more closed early, in the afternoon.Standard Chartered, one of the three banks that issue currency in Hong Kong, closed several branches in the afternoon, China Citic Bank International closed five out of… Source link

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Singapore 

Times Bookstores will close Centrepoint branch in September after 36 years, Singapore News

SINGAPORE – Times Bookstores is closing its Centrepoint branch on Sept 23 as part of an “ongoing renewal of store locations from time to time”, said a spokesman for the chain on Friday (Aug 2). It is the latest in a slew of closures in Singapore’s book scene that has included Books Kinokuniya’s Liang Court outlet in April, Popular’s Thomson Plaza outlet in June and MPH’s last two local outlets. MPH’s Raffles City store closed on Sunday (July 28) and its Parkway Parade branch will close on Sept 1. Times…

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