Property 

Hong Kong’s local malls seen as a solid investment bet thanks to solid yields, reliance on domestic spending

Hong Kong’s neighbourhood shopping centres have come into focus recently for their solid rental yields and reliance on local consumers, in contrast to glitzier malls that cater to the more fickle tourist spending.Property broker JLL estimated that market yields for neighbourhood malls ranged between 3 and 4.5 per cent, well above the city’s high street shops at 2.5 per cent and grade A offices at 2.7 per cent.“Neighbourhood malls in Hong Kong are an attractive retail asset worth considering for… Source link

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Vietnam 

Local stocks quiet ahead of key events – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A production line at a factory of the Southern Rubber Industry Joint Stock Company (Casumina, HoSE: CSM). The company’s shares lost 2.3 per cent on Tuesday, contributing to the market’s fall of 0.31 per cent. — VNA/VNS Photo Danh Lam HÀ NỘI — Vietnamese shares slid on Tuesday as investors remained quiet ahead of key events that focus on the global economy, finance and trade issues. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange shed 0.31 per cent to close at 944.01 points. The VN-Index lost 0.70…

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Vietnam 

Local logistics sector amid the Fourth Industry revolution – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM CITY — Vietnamese logistics firms are embracing technology to optimise their costs and improve their competitiveness, according to experts. According to the Việt Nam Logistics Business Association (VLA), the fourth industrial revolution and breakthroughs in technology have brought about many changes in the logistics industry. Keeping up with technological trends to keep pace with the global industry is essential. But experts said the number of companies using advanced technologies was modest. They said the industry needed to invest more in technology to improve its service quality. Speaking at…

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Home 

China looks to local asset management companies to help tackle bad loan problem, but Moody’s flags risks

The rise of local distressed asset managers in China over the last three years represents a change in the way regional non-performing loans are being handled from previous periods of credit distress, but they also raise a new risk, according to rating agency Moody’s.More than 50 provincial level distressed asset management companies (AMCs) are in operation, many of which were formed only recently, the rating agency said.Previously, non-performing loans (NPLs) were mainly addressed by China’s… Source link

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Overseas Vietnamese help local startups – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Startups introduce their products at a event held in HCM City. VNS/Photo.Ngọc Diệp HCM CITY— Many overseas Vietnamese have returned to Việt Nam to start their business as they see high potential and good economic growth. Phùng Công Dũng, chairman of the Overseas Vietnamese Committee in HCM City, told Việt Nam News that many people who have been successful in their career in other countries have invested in businesses here. Many young overseas Vietnamese have also returned with many experiences and broad knowledge to set up businesses, especially in HCM City. City authorities, including the Department of Science and…

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China-backed infrastructure bank AIIB to start local currency financing amid trade war, forex concerns

The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) will soon conduct financing activity in local currencies, in response to significant demand from member countries amid an escalating trade war between China and the United States and related uncertainties, it said on Monday.“From the second half of this year, we are going to start piloting local currency financing, in currencies such as the Indian rupee and the Indonesia rupiah, for example,” Danny Alexander, the bank’s vice… Source link

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White Rabbit milk tea sells at 2,000 per cent premium as Chinese consumers show support for local brands amid trade war

It is not all doom and gloom when it comes to the US-China trade war.At a time when more than US$300 billion dollars worth of Chinese exports to the United States face increased tariffs of 25 per cent, milk tea by storied Shanghai brand White Rabbit is selling at a premium of about 2,000 per cent – all in the name of national pride.Residents are willing to pay as much as 500 yuan (US$72) for a taste of the milk tea, which normally sells for 19-23 yuan, in a black…

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Singapore 

Visa credit cards can now be used on local public transport, Digital, Singapore News

Paying for local public transport using Visa contactless cards is now possible. This is one of Visa’s largest implementation for contactless payment and it’s also part of LTA’s (Land Transport Authority) SimplyGo initiative. Visa contactless-enabled cards1 issued by all banks2 in Singapore will be part of this transit initiative. Users will also be able to make use of mobile contactless transactions via compatible devices on the following payment platforms: Apple Pay Fitbit Pay Google Pay Samsung Pay Singtel Dash mobile wallet users can also use their Dash Visa Virtual Account3 to tap…

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Analysts slash forecasts on old Hong Kong airport land tender as chill descends on local property market

A residential plot to be tendered on the old runway at Kai Tak could fetch bids 10 to 33 per cent lower than sales that took place in May, as the escalation of the US-China trade war sends a sudden chill through the city’s property market after hitting a record last week.The site, located at area 4A site 1, has a limited view of Victoria Harbour and can yield 1.08 million sq ft of gross floor area. The land tender will close on July 19.“The uncertainties brought by the trade…

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Vietnam 

Automobile industry develops but local part supply remains low, says MoIT – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An automobile manufacturing line of Vinfast in the northern city of Hải Phòng. — Photo VNA/VNS HÀ NỘI — The automobile industry of Việt Nam has witnessed progress in the last two years, but the localisation rate (local part supply) still remains low, not meeting the set target, according to a Ministry of Industry and Trade (MoIT) report sent to the National Assembly for discussion and direction. The report shows that the volume of domestically-assembled cars was 250,000-260,000 units in 2017 and 2018, of which several types have been…

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