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The world’s largest pork producer WH Group, between the US and China, finds diversity its best solution out of the trade war

China’s WH Group, the world’s largest pork producer and owner of Smithfield Foods of Virginia, is adopting a two-prong strategy to survive the escalating trade war between the world’s two largest economies.The company will import more meat from Europe and South America to satisfy China’s demand in the largest pork-consuming nation while domestic hog herds had been culled by an outbreak of the African swine fever. It will also broaden Smithfield’s export markets to get around China’s tit-for-tat… Source link

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More than a third of investors expect a recession in 12 months, Bank of America Merrill Lynch survey finds

Recessions fears have reached their highest levels in eight years as investors shift away from equities to bonds, according to the latest Bank of America Merrill Lynch survey of fund managers.More than a third of investors surveyed believe a global recession is likely in the next 12 months, the highest recession probability since October 2011, the August Fund Manager Survey found.“Investors are the most bullish on rates since 2008 as trade war concerns send recession risk to an eight-year high,… Source link

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Singapore 

Missing Singaporean kayakers: Fisherman finds kayak washed up on Kuantan shore, no sign of duo, Singapore News

MERSING – A fisherman has found the green kayak belonging to two Singaporeans missing since Thursday (Aug 8), but the whereabouts of Mr Tan Eng Soon, 62, and 57-year-old Madam Puah Geok Tin remain unclear. The Straits Times understands that the kayak was found on the Kuantan coastline, which is more than 200km from Mersing, Johor, where the pair had set off from with a group of 13 other kayakers from Singapore taking advantage of the long weekend. Mr Tan’s bag, with his handphone and PAssion card, was found in…

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Birmingham’s rising potential finds favour among foreign property investors who find London overpriced

Birmingham, the second-largest city in England, is increasingly attracting overseas property investors, as they find London overpriced. Among them is Hongkonger Jabbie Yip, who bought three homes in Birmingham, about 162km northwest of the British capital. “These are long-term investments,” said Yip, 45, who also owns two flats in Hong Kong. “London, even if prices have declined by 10 per cent since Brexit, is still two and a half times more expensive than Birmingham.” The businessman bought… Source link

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E-commerce giants Alibaba and JD.com by far the dominant retailers in Asia-Pacific, Euromonitor study finds

Chinese e-commerce giants Alibaba Group Holding and JD.com were Asia-Pacific’s top retailers by sales last year, with combined revenues of US$444.5 billion, dwarfing Hong Kong’s GDP of US$363 billion. According to the Top 100 Retailers in Asia-Pacific report by global market research company Euromonitor International, Alibaba generated sales of US$243.5 billion last year, up by about a quarter from US$196.9 billion in 2017. Alibaba owns the South China Morning Post. JD.com, China’s second… Source link

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Singapore 

Photographer finds ‘human-like’ bones near Braddell home, police looking into matter, Singapore News

SINGAPORE – A freelance photographer who was walking his dog stumbled upon “human-like” bones near his Braddell home on Monday (July 29). Curious about what type of bones they are, Mr Alan Lim took a photo of the pieces on the grass patch and posted it on Facebook that afternoon. The 45-year-old freelance photographer, whose Facebook post has since been shared widely online, also called the police. The police said they were alerted to the bones in Sommerville Walk at about 9am. The origin of the bones is not yet…

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China 

China will need more than 35 years to upgrade to hi-tech manufacturing industry, study finds

China will only turn into an advanced manufacturing powerhouse in over 35 years at the current rate of progress despite the magnitude of the government’s industrial policy support for new domestic industries, according to a study by Renmin University of China in Beijing.Excess use of industrial subsidies, particularly by local governments, as well as poor implementation of anti-pollution standards, and the inability of the government to help small, private firms deal with short term operational… Source link

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Among the world’s biggest companies, CEOs are spending less time at the top, while instances of ethical failings are on the rise, survey finds

In the executive suite of the world’s largest listed companies, the length of time top corporate leaders can be expected to remain at the helm has fallen to a multi-year low, while the percentage being ousted for unethical conduct is at its highest since the turn of the millennium, according to a survey by PwC.Among the world’s 2,500 largest public companies, 17.5 per cent changed their chief executive last year, reflecting the highest turnover rate recorded since 2000, according to PwC’s 2018 … Source link

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Singapore 

Auditor-General finds lapses in procurement, contracts and IT controls in public agencies, Singapore News

SINGAPORE – Weaknesses in IT controls, as well as irregularities in procurement and contract management were among the key financial lapses in several ministries and government agencies flagged by the Auditor-General’s Office (AGO) in its latest annual report. The report was made public on Tuesday (July 16), after the AGO’s audit of government accounts for the 2018/2019 financial year. The report covers the financial statements of all 16 ministries and eight organs of state, as well as nine statutory boards, four government funds, four government-owned companies and three other accounts.…

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China 

Shenzhen takes economic top spot – again – but Hong Kong is more liveable, study finds

Shenzhen was the most economically competitive city in China in 2018 for a fifth consecutive year but Hong Kong leads the pack in living environment, business environment and development sustainability, according to an annual ranking by a Beijing-based think tank.Shenzhen overtook Hong Kong as the most economically competitive Chinese city in the rankings for 2014 and has held on to the top spot since, with Hong Kong second.The list is compiled by the National Academy of Economic Strategy at… Source link

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