China 

China to throw huge public relations bash to woo global investors turned off by US trade war

China plans to stage a big public relations event this autumn to send a message to multinationals that the country remains open to businesses, despite a deepening trade war with the United States.China’s Ministry and Commerce and the Shandong provincial government announced the event on Wednesday, which will be held in Qingdao in October. It is the latest addition to a long list of government-sponsored events in China to woo trade and investment flows and attempt to present a friendly face to… Source link

Read More
Singapore 

Brave 60-year-old man catches huge python single-handedly in Geylang, Singapore News

A 60-year-old man took it upon himself to rescue a large python from a drain on Tuesday (July 30). The incident occurred near an industrial zone in Lorong 21 Geylang at around 6.50pm. Mr Hong Shizhen said he was taking a stroll downstairs after dinner when he noticed a group of workers surrounding a canal. They were pointing at something and some were even shouting. Out of curiosity, Mr Hong went forward to take a look and realised that there was a large python in the drain, reported Lianhe Wanbao.…

Read More
Home 

Trade war, rate cuts, huge deficits – Trump gets away with it thanks to the US’ ‘exorbitant privilege’

In 1965, the then finance minister of France Valéry Giscard d’Estaing fumed about the “exorbitant privilege” America enjoyed in the global economy because of the advantage conferred on the country and its companies by the dollar’s status as the world’s reserve currency.Fast forward nearly 45 years, and the US dollar still reigns supreme. What has changed, however, as financial markets have become globalised, is the propensity of large amounts of capital to flow to the US during periods of… Source link

Read More
Home 

Huge staff cuts at Chinese Apple supplier raise the question: can the country’s businesses withstand a drawn-out trade war?

O-Film Group, a major supplier of camera and touch-screen components for Apple, has reportedly laid off more than 8,000 staff at its plant in central China, adding to concerns about whether the country’s businesses can withstand a protracted trade war with the United States.O-Film made the cuts at its factory in Nanchang, Jiangxi Province, according to a report on Wednesday by Caixin, a Chinese financial news outlet.Weighed down by a gloomy market outlook for smartphones, increasingly fierce… Source link

Read More
Home 

Resurgence of trade protectionism means Malaysia – and Apec – face huge challenges for 2020

No, I did not spend last week in steamy Hangzhou simply to cruise the West Lake and hobnob at sumptuous banquets. The real work was to help our region’s business leaders craft and prioritise their messages to leaders of the 21 Asia-Pacific Economic Cooperation (Apec) economies when they meet in November in Santiago.Apart from some blunt language over the economic harm being done across the region by the US tariff war against China, there were strong words against rising protectionism. There was… Source link

Read More
China 

Subsidy cuts could sound the death knell for China’s cheap electric carmakers as entry-level vehicles face huge price rises, says Xpeng chief

Drastic cuts to government subsidies that have propped up China’s electric carmakers could create an existential crisis for those at the budget end of the scale.Manufacturers who have been selling their vehicles for 60,000 yuan (US$8,715) or less will be forced to drastically raise their prices to cope with the withdrawal of financial support, according to Brian Gu, vice-chairman and president of Xpeng, a company seen by many as a challenger to Tesla.Being unable to absorb cuts of up to 60 per… Source link

Read More
Vietnam 

Rice exports face tough time amid huge global supply – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Farmers harvesting rice in the Mekong Delta. Photo english.vietnamnet.vn HCM CITY — With an abundant global supply and high inventory in major exporting countries, Việt Nam is expected to struggle to secure exports of rice in the second half of the year, speakers said at a conference held in HCM City on Monday. Trần Quốc Khánh, deputy minister of Industry and Trade, said that Việt Nam’s rice exports in the first half of the year experienced great challenges due to a drop in demand from major importers.  Except for the Philippines,…

Read More
Global 

Not every economist thinks the trade war is a huge deal; ‘look at the numbers’, says CME executive director

The economic impact of the trade war is not as bad as many people think, according to some economists, who recommend investors continue betting on China.The escalating US-China trade war and technology rivalry has hit businesses and consumers, and shifted some supply chains away from China as companies attempt to offset risk. Growth in Chinese imports and exports has faltered.Many investors are worried about the prospect of a US recession too, particularly if differences between Washington and… Source link

Read More
Home 

Hang Seng ends with tiny loss as normalcy returns to Hong Kong after huge protests

The Hang Seng Index closed slightly down while China shares eked out a tiny gain, as traders battled nerves over trade uncertainty while feeling excited about the official launch of a Nasdaq-style board on the mainland and a return of normalcy in Hong Kong after large protests.The Hang Seng fell 0.05 per cent to 27,294.71, crawling out of a morning hole in which lows were as deep as 1.6 per cent. In addition to trade, investors were focused on ongoing tension over a controversial proposal that… Source link

Read More
Vietnam 

POPS asks huge compensation for alleged FPT TV copyright infringement – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  FPT TV may have to pay compensation of US$15 million for alleged copyright infringement of content of POPS Worldwide. — Photo itcnews.vn  HÀ NỘI — Việt Nam-headquartered POPS Worldwide, a digital entertainment company, has asked for compensation of US$15 million from FPT TV for alleged copyright infringement. The compensation is based on losses that POPS and its partners said they had incurred after FPT TV illegally exploited more than 1,800 content items, according to a POPS’ representative. “We are currently working with related parties to protect the legitimate interests of POPS and its partners…

Read More