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Trump finally labels China a currency manipulator. It may be too little, too late

As a candidate for the 2016 US presidential election, Donald Trump vowed to name China as a currency manipulator “on day one” as president. On August 5 this year, he finally made the move, but hardly with the triumph of fulfilling a campaign promise. The immediate context of Treasury Secretary Steven Mnuchin’s declaring China a “currency manipulator” is that the renminbi fell below the psychologically important level of 7 yuan to the US dollar, which of course happened on the heels of Trump’s… Source link

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Can Chinese internet pioneer Sohu finally pull off a comeback after missing the mobile era?

Years after Sohu.com, once known as one of China’s leading internet portals, fell from grace by missing the mark in some of the hottest realms of the mobile internet age – social media, live broadcasting and short video – it has vowed to make a comeback with new initiatives in videos and more.Sohu is at the stage of bottoming out and is set for a “comeback”, Sohu founder and CEO Charles Zhang Chaoyang said at a media briefing on Wednesday, detailing plans to launch new self-developed drama… Source link

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Singapore 

Five Guys burger chain finally lands in Singapore and we can’t wait, Lifestyle, Food, Singapore News

The rumours are true. After New York burger chain Shake Shack opened at Jewel Changi Airport to much aplomb and snaking queues, its East Coast competitor, Five Guys, is set to make a similar splash.  There’d been talk since early May that the American burger franchise would be opening a branch here. Now it’s been confirmed that the chain would be setting up shop, and it’s all thanks to lifestyle company Zouk Group. The exact location of the joint remains a mystery, except that it will be in a “central” area, said…

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Singapore 

‘She is my god’: Childhood friends finally tie the knot in their 70s, Singapore News

Like many grooms, Mr Velappan Vellayan experienced pre-wedding jitters on the eve of his big day. The former coffee shop helper did not sleep much and rattled off Tamil songs to calm his nerves. But unlike most grooms, Mr Velappan is 71 years old. The nursing home resident married his childhood friend Savithiri Kaliappan, 72, on Friday. They tied the knot at Sree Narayana Mission Nursing Home in Yishun where Mr Velappan has lived for the past 11 years. “We were both alone. And after all these years, we found…

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Taiwan is finally luring companies back from China after more than 15 years of trying

Taiwan is slowly gaining after 15 years of effort to attract local companies to invest at home rather than in mainland China, which has so long been the favoured investment location.In 2008, then president Chen Shui-bian offered amnesty to firms that had broken laws against investing in the mainland, before successor Ma Ying-jeou leased land and established tech incubators to incentivise the return of capital. Now, a list of government incentives under President Tsai Ing-wen that took effect… Source link

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US finally grounds Boeing 737 MAX planes, citing ‘new evidence’ from Ethiopia crash site

The US Federal Aviation Administration issued an emergency order on Wednesday grounding all Boeing 737 MAX aircraft in the wake of a crash of an Ethiopian airliner that killed 157 people, a reversal for the US after federal aviation regulators had maintained it had no data to show the jets are unsafe. The decision came hours after Canada joined some 40 other countries in barring the 737 MAX from its airspace, saying satellite tracking data showed possible but unproven similarities between the… Source link

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Ecommerce 

Outbound travel market may be best bet for Visa, MasterCard should they finally gain access to China

While “cash or card?” is the usual question when standing at a cashier’s till in the west – in China the answer is neither.Visa and MasterCard, the world’s leading credit card companies accepted in over 200 countries, may eventually enter China after a 20-year wait as part of a potential US-China trade deal.But China’s transition towards a cashless and cardless society, with nine out of 10 internet users already paying for things with smartphones, means the card giants will likely look to work… Source link

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Can OnePlus finally change the perception that Chinese smartphones are cheap and shoddy?

OnePlus, the first Chinese smartphone company to sell its premium model through a major US telecommunications carrier, hopes to finally smash people’s general perception that China’s domestic brands are only good for inexpensive, low-quality handsets. “Selling the OnePlus 6T through a US carrier is of great significance because it will help build confidence in Chinese brands, which is something that we should feel proud of,” Pete Lau, the founder and chief executive of OnePlus, said at a company event in Shenzhen on Monday. OnePlus and T-Mobile jointly announced last month…

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After a lot of confusion, Wanda finally confirms sale of two units to Sunac China for US$900m

Wanda Group on Monday confirmed that it has agreed to sell two of its tourism units to Sunac China for 6.28 billion yuan (US$902 million), after denying an earlier report. The agreement came after “friendly negotiations” with Sunac, a statement posted on Wanda’s website said. Wand also agreed to unwind a separate hotel management deal with Sunac as part of this transaction. A separate filing by Sunac to Hong Kong’s bourse late on Monday said the purchase of 75 per cent of Chengdu Wanda Theme Cultural and Tourism Management and…

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