Vietnam 

No huge pressure on exchange in 2019: forecast – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Experts have forecast minimal pressure on exchange rates in 2019, with little chance of significant volatility. According to a recent report by SSI Securities Corporation, the continued devaluation of Chinese yuan could pressure the Vietnamese đồng. However, after overcoming the most difficult period – beginning of the US-China trade war, market members and management agencies are now prepared. The company predicted the volatility of the US dollar against Vietnamese đồng would be the same as 2018 with little chance for sudden…

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Vietnam 

Garment and textile sector expect huge challenge – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The garment and textile sector was forecast to suffer the most from goods origin regulations under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said Bùi Kim Thùy, the country representative for Việt Nam at the US–ASEAN Business Council. The CPTPP, which took effect in Việt Nam earlier this week, is expected to bring huge opportunities and also challenges to Việt Nam. However, materials for the garment and textile sector may still prove a headache. “Everyone said with the CPTPP, the…

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Singapore 

Singapore gay couple open up after landmark adoption case: ‘A huge load off our shoulders’, Singapore News

Framed photographs line the television console of a 1,450 sq ft flat in central Singapore. One shows a large group of family members in a rented villa in Bali several months ago, another is of a beaming couple and a third has the couple and their son. A two-metre-tall Christmas tree stands on the right, with three bears – two large with a smaller one tucked between them – all sharing a red scarf. It is Friday in the home of James, Shawn and their five-year-old son Noel. The family…

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Home 

US-China trade war could put a huge damper on Chinese demand for high-end American clocks

Mechanical clocks have become the latest victim of the ongoing trade war between Washington and Beijing. A Chinese distributor of high-end mechanical clocks made in the US said recently the sales outlook for the goods on the Chinese mainland appears challenging as the impact of a 10 per cent tariff begins to take effect. Meanwhile, the outlook for high-end European clocks appears brighter, as these products are set to enjoy a drop in Chinese import duties. “At the beginning of the year, I was very confident, but this year is…

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Home 

Huge opportunities in current adversity, says Jack Ma in final shareholder letter as Alibaba executive chairman

Jack Ma, Alibaba Group Holding’s executive chairman, in his final letter to shareholders before stepping down next year, said that the company will find opportunities amid the current “turbulence and instability” of the US-China trade war as the online giant is always planning for the future. The letter comes less than two months after Ma announced that he would hand over the reins to chief executive Daniel Zhang Yong. Jack Ma would ‘rather die on the beach than in my office’. Now there’s a lesson for Hongkongers Ma said in…

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China 

Xi Jinping tells China’s economic powerhouse to ‘leverage huge opportunity’ of Greater Bay Area

President Xi Jinping on Thursday told China’s southern economic powerhouse to leverage the “Greater Bay Area” to take forward its reforms, on the final day of a four-day visit to Guangdong province. State media released details of his remarks during the trip in the evening, with the president also vowing to continue China’s reform and opening up as its “correct path”, and telling small and medium-sized private businesses that they had Beijing’s support. In his meeting with Guangdong authorities in the afternoon, Xi tasked cadres and officials to build the…

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Home 

China’s state-owned carmaker gets a huge lifeline but what about private firms?

The extension of a line of credit worth more than 1 trillion yuan (US$145 billion) to a single Chinese state-owned company – vehicle manufacturer FAW Group – has raised questions about the government’s commitment to the private sector, which is being hit hard by the escalating trade war with the United States. But analysts say the move makes sense, given Beijing’s conflicting priorities of providing economic support for the struggling northeast rust-belt region while also seeking to boost private firms to help stabilise the overall economy. “It is rare and…

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