China 

China no longer ‘workshop of the world’ with US trade war accelerating manufacturing exodus, lobby group says

China’s days as the workshop of the world are numbered, with the trade war only accelerating the exodus of mass manufacturing, according to the head of a prominent US lobby group in China.“I have said for a number of years, the days of China being the workshop for the world are over. If they’re not over, they will be over very soon,” said Harley Seyedin, president of the American Chamber of Commerce (AmCham) in South China, which represents American and international companies doing business in… Source link

Read More
Vietnam 

Masan Group makes it into Forbes Asia 200 Best Over a Billion list – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Seven listed companies from Việt Nam have made it to Forbes Asia’s Best Over A Billion 2019 list. — Source Forbes Asia HCM CITY — Forbes Asia has named the 200 best-performing listed companies in the Asia – Pacific region with revenues of a US$1 billion or more, and Masan Group is one of seven from Việt Nam. The search started with a pool of 3,200 listed companies in the Asia-Pacific region with $1 billion or more in revenues in their latest financial year. Unprofitable companies and those whose…

Read More
Home 

Founder of Shanghai investment firm Zendai Group surrenders to police after P2P lending units default on payments

Dai Zhikang, the founder of Zendai Group, a Shanghai-based closely held investment firm, has surrendered himself in connection with a scam linked to peer-to-peer lending, police said over the weekend.Dai, 55, turned himself in on Thursday and said his firm could not make payments due to depositors through its online lending units, Shanghai police said. Assets linked to the case have been frozen and another 40 people have been detained.A former hedge fund manager, Dai set the firm up in 1992. He… Source link

Read More
Home 

US business group urges Donald Trump to delay new China tariffs coming ‘at the worst possible time’

A broad coalition of American industry associations on Wednesday appealed to US President Donald Trump to delay new tariffs on imports from China, arguing that the punitive measures against Beijing “come at the worst possible time”.Some 150 business groups comprising an umbrella organisation called Americans for Free Trade sent a letter on Wednesday to Trump, to fight tariffs of 15 per cent on US$300 billion of Chinese imports to the US, many of them consumer goods.Those tariffs, which were… Source link

Read More
Home 

Mainland developer China Aoyuan Group building a new niche focus in booming Greater Bay Area

Mainland developer China Aoyuan Group is betting big on the government’s plans for the Greater Bay Area, shifting more of its focus to China’s answer to Silicon Valley amid a slowdown in the overall Chinese property market.The Guangzhou-based property group, which has about a quarter of its land bank in the Greater Bay Area, is developing a niche in the southern Chinese region, according to senior vice-president Jacky Chan Ka-yeung.“No matter from a land bank or investment perspective, or sales… Source link

Read More
Money 

RRJ-led group in talks to invest US$4 billion in HNA’s Ingram Micro

RRJ Capital, run by former Goldman Sachs partner Richard Ong, is in advanced talks with the embattled HNA Group Co. to lead a US$4 billion investment in Ingram Micro Inc., people familiar with the matter said.The group led by the Hong Kong-based private equity firm will invest through an HNA bond that can be converted into close to 50 per cent of Ingram Micro’s shares, the people said, asking not to be identified before the agreement, which may be signed as early as next week. The bond proceeds… Source link

Read More
Home 

Huawei named top private enterprise by China quasi-governmental group, followed by HNA Group

Huawei Investment and Holding was crowned as the champion of China’s top 500 private enterprises on Thursday, winning the title for the fourth consecutive year in the ranking of domestic private companies by a quasi-governmental group.Indebted Chinese conglomerate HNA Group was picked as the runner up. Suning Holdings Group, a home appliance retailing conglomerate, took third place.Chinese internet giant Alibaba and Tencent did not join the competition, according to a report issued by the… Source link

Read More
Home 

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

Read More
Singapore 

Volunteers from Buddhist group serve as road marshals during Hari Raya prayers in Eunos, Singapore News

SINGAPORE – As more than 1,000 Muslims gathered at the Abdul Razak Mosque in Eunos for prayer on Sunday morning (Aug 11), volunteers from the nearby Buddhist organisation Shinnyo-en Singapore helped to organise a partial road closure giving them more space to pray. It was the first time that Shinnyo-en volunteers have served as road marshals during congregational prayers on Hari Raya Haji, which is also known as Eid al-Adha, or the festival of sacrifice which marks the end of the haj pilgrimage to Mecca. “There have been more congregants…

Read More
Singapore 

Most Singaporeans agree they can learn from immigrants, but feel the group needs to integrate more into society, Singapore News

SINGAPORE – Most Singaporeans generally accept the importance and value of having immigrants, but many also feel that immigrants are not doing enough to integrate into society. These were some of the findings from an Institute of Policy Studies (IPS) survey on race, religion and language made public on Saturday (Aug 3). Nearly nine in 10 (87 per cent) of the citizens and permanent residents surveyed agreed that there is “a lot to learn” from the immigrants’ cultures. A similar proportion (90 per cent) said it is good to have…

Read More