China 

China’s overseas investment fell 10 per cent last year, as government crackdown on capital flight continues

China’s outbound direct investment fell 9.6 per cent to US$143.04 billion in 2018, amid growing curbs on money leaving the country, the Ministry of Commerce has announced.This was the second successive drop in China’s outbound direct investment (ODI) after many years of breakneck growth. In 2017, ODI dropped by 19.3 per cent, the first decline in record. Indeed, as recently as 2016, the Ministry of Commerce (MOFCOM) reported record high ODI, of US$196.15 billion.However, despite the Belt and… Source link

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Global 

China outstanding bank loans fell in August, backing new moves to boost credit to support economy

The growth in China’s outstanding bank loans fell again in August, supporting the central bank’s decision to start easing credit conditions and suggesting further steps ahead to support an economy pressured by the trade war with the United States.The country’s commercial banks extended 1.21 trillion yuan (US$170.22 billion) in new loans in August, in line with expectations and higher than the 1.06 trillion yuan in July, according to data released by the People’s Bank of China on Wednesday… Source link

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Singapore 

22-year-old nearly fell prey to credit-for-sex scam, Singapore News

He had joined dating app Badoo to meet new people, but little did he expect he would end up becoming a near victim of a credit-for-sex scam. Mr Harry Wong (not his real name), 22, had received a match request in July from a 23-year-old woman who claimed to be a foreigner studying at a local university. He found her cute and decided to accept her request, Mr Wong told reporters last Friday. About a week later, the woman called Qiao Er told him she needed to pay her school…

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Singapore 

Missing man’s body found a day after he fell into water near Punggol Point Jetty, Singapore News

SINGAPORE – The body of a man was found on Sunday (Aug 18) afternoon, a day after he was reported missing near Punggol Point Jetty. The body of the 56-year-old man was located by Singapore Civil Defence Force (SCDF) officers at around 2.30pm. The man was pronounced dead at the scene. Eyewitnesses said the man had been fishing near the jetty when he fell in and appeared to be swept away. A search by police and SCDF personnel started at around 7pm on Saturday and continued through the night. Divers joined the…

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Singapore 

Driver left shocked and trembling after car gets struck by big plate that fell from truck, Singapore News

Stomp contributor Y was driving along Clementi Avenue 6 last Wednesday (Aug 7) when his car was truck by a large object that had fallen from a truck in front of him. According to him, the truck was carrying what he believed to be gypsum plates when one piece appeared to fall off and land right smack on his car. Y recounted: “This was from the Pan-Island Expressway to the Ayer Rajah Expressway, at the overhead bridge before entering the tunnel. “I was driving normally when I noticed a truck…

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Home 

Hong Kong’s index of used homes fell in June as trade war, public unrest combine to stifle property market bull run

The prices of Hong Kong’s lived-in homes dropped by 0.8 per cent in June, as the year-long US-China trade war and unprecedented levels of public unrest combined to send property buyers to the sidelines, ending a five-month bull run in the city’s real estate market.The price index of used homes fell to 393.7, according to the Rating and Valuation Department’s data. Property analysts said the decline will accelerate in the coming months.“The index will still adjust downwards in the next one to… Source link

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Singapore 

Pontian Wanton Noodles investigating employee who allegedly kept dumplings that fell on the floor, Singapore News

SINGAPORE – A diner’s Facebook post about a noodle stall employee who allegedly kept dumplings in a box after they had fallen on the floor has been making the rounds online. Netizen Neb Mil wrote on Wednesday (July 17) that an employee of Pontian Wanton Noodles at the coffeeshop at Block 682, Hougang Avenue 4, had dropped some dumplings on the floor. He said that she had picked them up and placed them in a container together with other dumplings. He wrote: “I told her to dispose all (the dumplings)…

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Home 

Here’s why the sales pitch by Anheuser-Busch and its bankers for Budweiser to be the 2019 King of IPOs fell flat

For months, executives from Anheuser-Busch InBev raced to prepare for a listing of its Asian subsidiary, Budweiser Brewing Company APAC. It was to be this year’s biggest initial public offering and would surpass Uber Technologies’s US$8.1 billion share sale.The hope had been that the Belgian company’s leading position in the premium beer market in China – with its millions of drinkers – would justify a target to raise as much as US$9.8 billion, for a valuation of $64 billion.But on Friday, AB… Source link

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Global 

China’s exports and imports both fell in June, as higher US trade war tariffs blitz Chinese economy

China’s exports fell in June, as trade tariff increases from the United States came into effect, while imports continued to weaken amid declining domestic demand.In June, exports fell by 1.3 per cent year-on-year to US$212.8 billion, after tariffs on US$200 billion of Chinese goods were raised from 10 per cent to 25 per cent by Washington in May. This was down from 1.1 per cent growth in May.Imports, meanwhile, continued to slump, falling 7.3 per cent in June to US$161.8 billion, according to… Source link

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Singapore 

1-Altitude guard who fell into pit and died: Family seeking answers, Singapore News

A security guard of rooftop bar 1-Altitude who fell into a 4m-deep pit and died on Sunday was apparently trying to keep two customers away from a barricaded area, colleagues who witnessed the accident told his family. Mr Shaun Tung, 26, had spotted the duo entering the cordoned-off area just after midnight on Sunday and run across in an attempt to stop them. He likely did not know there was a hole in the ground, his family told The Straits Times last night. Mr Tung is a part-time guard at…

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