China 

China cuts short-term interest rates slightly in latest bid to help companies hit by US trade war

China trimmed its market reference rate for new short-term bank loans on Friday, taking another step towards helping companies hit hardest by the trade war with the United States and the overall domestic economic slowdown.The September loan prime rate, the average taken from 18 selected commercial banks, was set at 4.20 per cent for one-year maturities, down from the 4.25 per cent set in August, according to the National Interbank Funding Centre, a unit of the People’s Bank of China (PBOC).The… Source link

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Home 

Hong Kong stocks hit longest losing streak in six weeks as investors fear more protests on the way

Hong Kong stocks fell for a fourth straight day, their longest losing streak in six weeks, on concerns there will be more protests ahead of China’s National Day.The Hang Seng Index dropped 1.1 per cent to 26,468.95 at the close on Thursday. The four-day decline was the longest since a stretch of five days that ended on August 6. Cosmetics retailer Sa Sa International Holdings said the civil unrest in the city was hurting its sales.Concerns were running high that more demonstrations will be… Source link

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Home 

Several dozen Hong Kong retailers likely to fold, leaving thousands unemployed as ongoing protests hit sales

Several dozen small retailers are likely to shut shop as soon as the end of this month due to plunging sales that could lead to thousands of lay-offs as protests frighten away tourists, according to a Hong Kong-based staffing agency.“It is just too hard to survive,” said Alexa Chow Yee-ping, managing director of AMAC Human Resources Consultants, adding that retail chains were trying their best to keep permanent staff despite the gloomy scene.About 20 per cent to 30 per cent of retailers were… Source link

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Money 

China corn industry also hit by African swine fever as demand for pig feed drops

Corn accounted for almost 8 per cent of China’s gross domestic product last year and 40 per cent of the country’s overall grain production, but one of the country’s three principle crops is feeling the effects of the African swine fever epidemic as demand for pig feed shrinks, according to industry insiders.Along with wheat and rice, corn is one of the three principle crops in China, meaning the government will take steps to ensure the country’s self-sufficiency as part of its overarching food… Source link

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Singapore 

Girl gets hit on the head by gantry arm while chasing after Foodpanda delivery guy at MDIS, Singapore News

This is a cautionary tale why you should never run under a gantry arm. Stomp contributor Zarian was waiting to exit the Management Development Institute of Singapore (MDIS) on Wednesday evening (Sep 11) when he saw a girl chasing after a Foodpanda delivery rider. I was on my way out of MDIS and having problems with my IU unit being read at the exit,” he said. “I then saw this girl chasing after the Foodpanda delivery rider and getting knocked by the gantry arm.” In a video shared by Zarian,…

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Singapore 

70-year-old cleaner hit by a bag of rubbish thrown from high-rise unit, Singapore News

On the day that Parliament discussed the issue of killer litter, a cleaner was hit by a bag of rubbish thrown from height at Braddell View. The incident happened on Sept 2 while Ms Phang Aik Kam, 70, was cleaning the area near the bicycle racks at the 25-storey Block 10D. She said that she had just started her shift at about 8am when she suddenly felt something hit her shoulder. The cleaner, who has worked at Braddell View for about two years, then saw a white plastic bag on…

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Home 

Hong Kong-China ‘insurance connect’ plan on hold as trade war, protests hit business environment

A proposed new “insurance connect” scheme to allow cross-border sales of insurance products between Hong Kong and mainland China is on hold because of economic uncertainties arising from the trade war and the unprecedented social unrest that has rocked Hong Kong for the last three months.“The talks about setting up an insurance connect scheme will definitely be delayed as a result of the challenges of international business operating environment as a result of the ongoing US-China trade war. It… Source link

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Singapore 

Man hit by car in Bukit Batok, girl heard wailing in accident footage, Singapore News

SINGAPORE – A 61-year-old man and a young girl were crossing a road junction in Bukit Batok when they were hit by a car. A dashcam video showed that they were crossing the road junction as the green man signal was blinking and were hit by the white car which was making a discretionary right turn. The man bore most of the impact, hitting his body on the windscreen before falling onto the road, as seen in the video taken by a nearby car. The girl got up from the…

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Singapore 

‘I saw my dad hit my mum. It changed my life forever’, Lifestyle, Singapore News

Singaporean filmmaker Ng Yiqin recently directed a short film for Viddsee, a Singapore-based platform that specialises in short premium content. The short film, ‘Something I Wanted To Ask’ deals with family violence in Singapore, the issue of toxic masculinity, and its impact on children. In the film, a teenager struggles to understand the relationship between his abusive father and his mother, while coming to grips with what it really means to be a man. Here are some disturbing stats on violence against women in Singapore: 1 in 10 women in Singapore experience…

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Global 

Chinese tariffs hit US food exporters, leaving other nations to make hay while the sun shines

At the start of the summer, a group of officials from Maine wrote to US President Donald Trump, urging financial support for the state’s iconic lobster industry.“One of the first victims of retaliation imposed by China after the initial round of tariffs was lobster shipped from Maine,” wrote Maine Senators Angus King and Susan Collins, along with state Representatives Chellie Pingree and Jared Golden.China had become the second largest importer of Maine lobster, buying US$128.5 million in the… Source link

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