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 warned it shouldn’t pin its hopes on Russian soybeans plugging supply gap caused by US trade war

Russian soybean exports to China are likely to remain low for the next few years, an agricultural specialist has warned, suggesting that amount produced will not be enough to provide a real alternative to the US.China suspended purchases of US soybeans and other farm products this month after US President Donald Trump threatened to impose more tariffs on Chinese products, compounding the shortages caused by 25 per cent tariffs on the crop that have been in place since July last year.Russia is… Source link

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Home 

China’s Kuaishou, TikTok close gap with YouTube among highest-grossing video apps

Popular short video-sharing platforms Kuaishou and Douyin – known outside China as Kwai and TikTok, respectively – closed the gap behind YouTube to rank among the world’s highest-grossing photo and video apps in the second quarter of this year.The latest quarterly rankings, announced in a blog post on Friday by app analytics firm Sensor Tower, showed Kuaishou keeping its runner-up spot even though 99 per cent of its revenue was generated from its home market.Fast-growing Douyin, which has a… Source link

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Property 

Singapore’s new homes widen their price gap over older real estate, buoyed by interest from foreign buyers

As the political unrest in Hong Kong has taken a violent turn, there is growing unease among the wealthy. A side-effect has been an increase in enquiries and expressions of interest about buying residential property in Singapore from private bankers in Hong Kong, according to some property agents.“It’s not just private bankers inquiring on behalf of their clients in Greater China including Hong Kong, but the private bankers themselves are house-hunting in Singapore too,” said Ken Low, managing… Source link

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Vietnam 

HCM City eyes public-private partnership to bridge resource gap – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    The Sài Gòn 2 Bridge which was completed after one year and a half under the build-transfer mode. Since 2000, HCM City agencies have signed contracts for 22 PPP projects worth nearly VNĐ70 trillion ($3 billion), including 16 in the transport sector and three for infrastructure development. Photo cii.com.vn   HCM CITY — Public–private partnership (PPP) is the best mode of investment for HCM City’s socio-economic development, city authorities have said.   According to the Department of Planning and Investment, the city requires VNĐ326 trillion (US$14 billion) for the…

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Singapore 

Tinder couple with 10-year age gap fight daily to keep their love alive, Lifestyle, Singapore News

You never know when love will come knocking at your door. For Luke, 30, and Charmaine, 20, theirs started with a right swipe on Tinder and love blossomed after that on the fighting mat. Fast forward two years since they met, the pair are now married and co-own a gym.  SHE WAS ONLY 18 Charmaine, then 18, was still a student when she met Luke, 28, on the dating app. Besides having a 10-year age gap between them, Luke is from the US, though he works in Singapore. But that didn’t stop them from pursuing love.   Charmaine said there…

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Home 

For Chinese firms in US, ability to navigate the cultural gap can determine success or failure

In 2014, two Chinese chemical companies outlined plans to build massive, multibillion-dollar plants in the United States, ultimately located within a few miles of each other in Louisiana. Five years later, YCI Methanol One has completed all major permitting and its plant is 60 per cent built, while Wanhua Chemical Group Co is still struggling with approvals.The divergent paths reflect in part their different experiences navigating American business culture, risks and constraints, say company… Source link

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China 

US-China trade war talks collapsed due to ‘culture gap’ in understanding of law, professor says

Trade talks between China and the United States collapsed because there was “a critical cultural gap” on the understanding of law between the two sides, according to a professor at the University of Hong Kong.The explanation offered by Chen Zhiwu, director of the Asia Global Institute in Hong Kong who also taught at Yale University, provided a fresh perspective to understand how Chinese and American officials failed to reach a deal to end the trade war after months of negotiations.According to… Source link

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China 

China’s 8.34 million graduates fighting for fewer jobs as vacancies dwindle and gap years increase, survey shows

China’s 8.34 million graduates are facing a tougher and more competitive job market than their counterparts 12 months ago as a record number of applicants compete for a dwindling number of vacancies in an economy that is struggling to maintain stable growth in the midst of the trade war with the United States, a survey of students showed.The number of job openings for each new graduate applicant dropped to 1.41 this year from 1.54 last year, according to Zhaopin, an online job recruitment… Source link

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Vietnam 

Logistics enterprises, schools work to close skills gap – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    HCM CITY — With e-commerce and automation changing the landscape of the logistics sector dramatically, there will be a focus on re-skilling the existing workforce in technology, which will improve the competitiveness of the logistics industry. The remark was made by Lê Duy Hiệp, chairman of the Việt Nam Logistics Business Association (VLA) at a recent forum in HCM City. He said that vocational education and training (VET) colleges often faced challenges aligning graduate’s skills with industry needs, which leads to skills shortages in the job market. …

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