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Hong Kong’s stockbrokers face a bleak second half as job cuts loom amid shrinking trading volume and dwindling fundraising plans

Hong Kong’s stockbroking industry is making an early entry into a bleak winter, as daily transactions and fundraising shrank amid the combination of a year-long US-China trade war with unprecedented civil unrest.The industry, comprising 27,327 licensed traders in 594 firms, is likely to shrink by at least 10 per cent, beginning with back-office support staff, research and administrative clerks, according to the head of the industry guild.“Facing shrinking income, brokerage firms have no choice… Source link

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‘Let the police do their job’: Hong Kong stock exchange chief cautions against military intervention

The head of the Hong Kong stock exchange has cautioned against Chinese military intervention in Hong Kong, saying it is not up to the People’s Liberation Army to do the police’s job.Addressing a group of business and professional executives on Thursday, HKEX chief executive Charles Li Xiaojia said the PLA was “supposed to be here to point outside enemies. It’s not supposed to help Hong Kong to deal with our problems.”Li’s comments come amid concerns that PLA troops could be mobilised to help… Source link

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From conducting job interviews to vocational training, Swedish start-up sees robots as a game changer

If the future turns out to be just the way as envisioned by Samer Al Moubayed, robots will become part of our everyday lives, spawning huge business opportunities worth billions of dollars.The CEO and co-founder of Furhat Robotics, a Swedish start-up developing robotic applications, says there could be hundreds of uses for robots, from conducting job interviews to vocational training to customer servicing worth billions of dollars in the next two decades. These robots will become so common that… Source link

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China 

China’s job market improves in second quarter despite record low growth rate

China’s job market improved slightly in the second quarter of 2019, with more posted vacancies than jobseekers, despite the country’s record-low growth rate.After dropping to a five-year low of 1.68 in the first quarter, the number of jobs available for every applicant increased to 1.89 in the following three months due to faster growth of seasonal hiring.But the ratio, provided by the China Institute for Employment Research (CIER) at Renmin University of China in Beijing which tracks data on… Source link

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China 

Chinese graduates encounter tougher job market as economy slows

China’s economic growth is the lowest in a decade, a trade war with the US drags on with no end in sight, and in this uncertain environment the country’s largest-ever batch of college graduates is hitting the job market.Even the best and brightest among the record 8.3 million graduates this year are struggling to land the prestigious jobs they had hoped for. More than 20 students from top Chinese and overseas universities told Bloomberg News they are pessimistic about the job market.Some have… Source link

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Huawei plans job cuts at US operations as it struggles with blacklisting, report says

Huawei Technologies is planning extensive lay-offs in the United States as the Chinese telecoms equipment company grapples with its US blacklisting, The Wall Street Journal reported, citing people familiar with the matter.The lay-offs were expected to affect jobs at Huawei’s US-based research and development subsidiary Futurewei Technologies, which employs about 850 people in research labs across the United States, the Journal said.,The lay-offs could be in the hundreds, one person told the… Source link

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It’s China’s job to restore public trust in Hong Kong. Carrie Lam can’t do it alone

The cheerful Yorkshire cabby was typically talkative as he bundled away my luggage at York railway station, 200 miles north of London. The clouds threatened rain. His taxi radio blathered about Boris Johnson and Brexit as he asked where I was from. When I told him Hong Kong, the cheer immediately froze: “You’ve been having a bit of bother out there, haven’t you. Looks like your Carrie Lam is in a bit of a mess.”No matter where I have been in the UK in the past two weeks, everyone I…

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Vietnam 

Korean firms come hiring at HCM City job fair – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A candidate is interviewed at the annual Korea-Việt Nam job fair in HCM City on June 28. The fair attracted 45 Korean firms and 1,400 job applicants this year. — VNS Photo HCM CITY — Korean investment in Việt Nam is expected to rise further, increasing demand for labour, according to the Korea Trade-Investment Promotion Agency (Kotra). South Korea is already the largest foreign investor in Việt Nam, according to the Foreign Investment Agency, with a total of US$64.55 billion in 7,905 projects, accounting for over 18 per cent…

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Singapore 

She moved to Singapore, quit her lucrative job, acted in Crazy Rich Asians, and made her first movie at 36, Singapore, Entertainment News

In many ways, Rebecca Chu is your typical well-educated, overachieving Chinese-American. She attended Stanford. Then she attended Stanford again, for its world-leading Master of Business Administration after earning an economics degree. Along the way, she did stints at Oxford and Peking University. Outside school, Chu continued to be a high-flyer.  Disney. Las Vegas Sands. Apple. “Everything from budgeting to evaluating a new investment and determining where the cash should be spent in order to be the most profitable for the company”, was how the 36-year-old described her steady rise in corporate finance in…

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Singapore 

Big little lies? Discrepancies in job applications rife in Singapore, Singapore News

When news broke earlier this year about American Mikhy Farrera-Brochez and his role in the HIV Registry data leak, the fact that he used fake educational certificates to secure lecturing jobs here riled many people. The New Paper also reported that from 2016 to 2018, 33 foreigners were nabbed for submitting fake certificates when applying for work passes. Local and foreign job seekers have also used less egregious ways to puff up their credentials, such as inflating job titles and salaries or lying about the periods they were jobless. Background-screening…

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