China 

China’s proposed digital currency will help banks bridge gap on mobile payment, curb dominance of Alipay, WeChat

The People’s Bank of China’s “imminent” move to launch the country’s own sovereign digital currency underlines the central bank’s urgency to tighten its grip on the nation’s deposit pool and help banks catch up with their mobile payment business, analysts said.The PBOC set up the project in 2014 to look into launching its own digital currency to cut the costs circulating cash and boost policymakers’ control of money supply. Although the project has been closely guarded, various media reports… Source link

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China 

China’s central bank is pushing commercial lenders to hold mortgage rates steady to curb the growth of home loans

The People’s Bank of China has asked commercial lenders not to lower the interest rate of home mortgages from the current level in order to curb the growth of home loans, according to people familiar with the matter.The PBOC offered verbal guidance to state-owned banks, joint stock banks and other commercial lenders, the people said, asking not to be identified as they’re not authorised to speak publicly. Banks received the guidance early this month, according to two of the people.The move… Source link

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Home 

Shanghai exchange moves to curb speculation even before trading starts at Nasdaq-style tech board, introduces suspension rules

The Shanghai Stock Exchange introduced rules to limit speculation on the Star Market, its new technology innovation board, on Friday.Chinese regulators are prioritising stability for the trading debut of the Nasdaq-style market, which was launched on Thursday during the annual Lujiazui Forum. It is expected to start trading within two months, the exchange’s chairman, Huang Hongyuan, said.According to the new rules, shares on the Star Market will be allowed to trade freely for the first five… Source link

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Singapore 

Mixed reactions on whether safety apps can help curb sexual misconduct, Singapore, Digital News

Would mobile applications to deter would-be sex offenders, which are available in other cities, work in Singapore? In Japan, a free smartphone app developed by Tokyo police to help scare off would-be molesters by activating a security alarm has been downloaded more than 220,000 times, Japanese newspaper Yomiuri Shimbun reported recently. When activated, the Digi Police app can shout “stop” or set off a loud alarm. A message, “There’s a molester. Please help”, will also be displayed on the screen that victims can show to people around them. Other cities…

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Singapore 

Curb your overspending with these 4 tips, Singapore News

Do you feel like your income is just enough, and there’s nothing left over for savings? Or perhaps you have the good intention to save money, but before you know it’s the end of the month and you’ve spent more money than you thought you would. This happens to many people, so how can you take control of your spending? Here are four tips that can help you be more mindful of how you spend your money and break your overspending habit. START TRACKING YOUR SPENDING Are you really overspending,…

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Home 

Trade war, Brexit and slowdowns in China and Germany are likely to curb the stock market euphoria

World stock markets have had the bit between their teeth since the turn of year, but are investors getting too far ahead of themselves and heading into a new day of reckoning? Too much is already factored into the US and China clinching a trade deal soon and it might be a classic case of “buy the rumour and sell the fact” for many investors questioning the logic of markets heading back towards last year’s all-time highs. Could the stock market’s euphoria soon be upended?There are too many other… Source…

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Singapore 

Korean BBQ in Singapore: 15 best places to curb your meat cravings, Singapore News

Korean BBQ rivals, if not beats Thai BBQ anytime. And Singapore is no exception to this. Being a veritable melting pot of cultures and cuisines, the Lion City has its fair share of great restaurants to enjoy the grilled goodness of different meats and seafood, along with the usual hotpot and endless side dishes, of course. Here is a quick guide to the 15 best places to go to for your Korean BBQ fix in Singapore. Enjoy grilling! Photo: Shopback 1. DAESSIKSIN KOREAN BBQ BUFFET Photo: Pixabay Daessiksin is the…

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China 

China’s banking regulator declares victory in campaign to curb financial risk

The risk of a financial meltdown in China’s economy has been largely allayed, a senior industry official said on Tuesday, suggesting the government’s three-year campaign to tackle soaring debt and high-risk lending might be coming to an end.“The barbaric growth of shadow banking and overheating of real estate financing have been reined in through strengthened supervision,” Wang Zhaoxing, deputy chairman of the China Banking and Insurance Regulatory Commission (CBIRC), said at a press conference… Source link

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China’s stock exchanges seek to curb overuse of trading halts amid complaints from foreign investors

China’s stock exchanges are seeking to rein in the overuse of trading suspensions among listed companies to improve trading efficiency, a move intended to encourage global index compilers to raise the weighting of the nation’s equities in their benchmarks. Trading halts for companies that plan stock-for-asset restructuring cannot exceed 10 days and suspension for ownership changes, general offers and equity incentives will be allowed for a maximum of two days, according to draft rules released on Wednesday night by the Shanghai and Shenzhen bourses seeking public comment. Senior executives will…

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China 

Chinese consumers curb spending on trade war uncertainty, but investment and output jump in October

Chinese consumers reined in their spending in October on increasing uncertainty amid the trade war with the United States, government data released on Wednesday showed. But growth in fixed-asset investment and industrial production both accelerated during the first month of the fourth quarter, indicating that while the economy may be slowing, it is not collapsing from the weight of trade war uncertainty. China says strong US economy shores up its exporters Overall investment growth accelerated to 5.7 per cent in the January to October period, above expectations for a 5.5…

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