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CK Asset postpones sale of luxury flats estimated to cost more than US$12.7 million citing social turmoil

CK Asset Holdings, the second largest developer by market value in Hong Kong, has become the latest builder to defer the sale of its luxury residential project, as 10 weeks of social turmoil has severely hurt consumer sentiment.The as-yet unnamed project at 21 Borrett Road, in Mid-Levels, was originally expected to be released for sale this month.Executive director Justin Chiu Kwok-hung said on Tuesday that the group had decided to postpone the sale of the luxury flats that would cost more than… Source link

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China’s rare earth producers say they are ready to weaponise their supply stranglehold, pass any tariff as cost to US customers

China’s rare earth producers, who control the lion’s share of the world’s output of the elements, said they are ready to use their dominance of the industry as a weapon in the country’s year-long trade war with their customers in the United StatesChinese producers will pass any tariffs on their exports to customers, in a move that would almost certainly add to the cost of the magnets, motors, light-emitting diodes and hundreds of other devices where they are found, according to an industry… Source link

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Money 

One little-known Chinese bank in Liaoning province is making the cost of capital more expensive for hundreds of other lenders

Just two years ago, a little-known Chinese lender could raise capital from global investors at a yield of 5.5 per cent, only 1 percentage point more than the debt of the nation’s leading retail bank, Postal Savings Bank of China.But that all changed in June, when investors grew concerned about the outlook of the firm, Bank of Jinzhou. Yields on its so-called Additional Tier 1 notes blew out to over 21 per cent after its auditors resigned citing inconsistencies in its loans, before coming back… Source link

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China 

US trade war has cost China almost 2 million industrial jobs, CICC research shows

China has lost 5 million jobs in the industrial sector in the last year, including 1.8 to 1.9 million due to the trade war with the United States, a leading Chinese investment bank estimated on Wednesday.The total job losses represent 3.4 per cent of total employment in the industrial sector, which includes mining, manufacturing and public utilities, and 0.7 per cent of total national employment, said China International Capital Corporation (CICC) economists Liang Hong and Yi Huan.The decline… Source link

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Singapore 

House Tour: $30,000 reno cost for this 2-storey terrace revamp, Lifestyle, Singapore News

This 30-year-old two-storey terrace home underwent a major makeover, with strong wood accents standing in contrast to clean-lined design features. Photo: Home & Decor From the owner’s retro and vintage furniture collection to the interior backdrop, dark wooden tones dominate. But a smart living room and kitchen layout, sleek design features and some clever mix-and-match furniture choices by Museworks’ interior designer, Shawn Shum, give the space – renovated at an estimated cost of $30,000 including carpentry – an elegant, contemporary look. Photo: Home & Decor Antique oriental wooden screens anchor…

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Axed Budweiser IPO cost investors up to HK$36 million in interest payments, highlights problem of long settlement period in Hong Kong

The cancellation of Budweiser Brewing Company APAC’s mega flotation has hurt more than just Hong Kong’s global listings ambitions. Retail investors, who had borrowed a combined HK$38 billion (US$4.8 billion) for the initial public offering, have lost thousands of dollars in interest payments, an issue that has once again highlighted the city’s lengthy listings process.The investors will have to bear the cost, stockbrokers said, after brewing giant Anheuser-Busch InBev scrapped the US$9.8… Source link

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Deutsche Bank’s ‘fundamental transformation’ under CEO Christian Sewing to cost US$8.3 billion and 18,000 jobs

Deutsche Bank unveiled a radical overhaul that will see the lender exit its equities business, post a €2.8 billion (US$3.1 billion) second-quarter loss and cut the workforce by 18,000 to reverse a slide in profitability.Chief executive Christian Sewing will shelve the dividend this year and next and take restructuring charges of €7.4 billion through 2022 to pay for an overhaul that shrinks the German lender’s once-mighty investment bank along with its global footprint and key fixed-income… Source link

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Vietnam 

HCM City metro routes delayed, await approval for cost revision – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

   HCM City’s metro line No 1 under construction in Thủ Đức District. VNS File Photo. HCM CITY — The HCM City People’s Committee has asked the Ministry of Planning and Investment to revise the cost of its first two metro lines. With the (adjustment of the) costs of these official development assistance-funded projects yet to be approved, capital disbursement is being delayed. The contractor has asked for rescheduling work on metro line No 2 between Bến Thành Market in District 1 and Tham Lương Bus Terminal…

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Singapore 

Flea market Singapore: Cost of booths and where to rent (2019), Lifestyle, Singapore News

Tired of browsing products in sterile shopping malls stuffed with big, faceless brands? Maybe it’s time to shop and sell stuff at flea markets, then. Flea markets are ideal for people who are seeking exposure for a craft or hobby, and want to find an avenue to sell the fruits of their labour. They are also great for those of us who’ve amassed too many belongings and need to offload and sell them without resorting to the occasionally hair-pulling experience that is Carousell. As a consumer, buying second hand and…

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China 

US retail group says extra tariffs on Chinese goods will cost Americans US$18 billion a year

US trade group the National Retail Federation has called on Washington not to impose additional 25 per cent tariffs on US$300 billion of Chinese goods, saying they would cost American consumers US$18 billion a year.That’s according to the results of the federation’s study released on Friday, ahead of next week’s meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at the Group of 20 summit in Japan.The study looked at key product categories for Chinese imports,… Source link

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