Investment 

Chinese sportswear maker Xtep reports 23 per cent jump in profit as acquisitions, expansion pay off

Sportswear maker Xtep International Holdings has joined home-grown rivals in reporting stellar first-half earnings as they benefit from China’s growing sportswear market.Fujian-based Xtep posted a 23 jump in net profit and revenue for the six months ended June to 463 million yuan (US$65.5 million) and 3.3 billion yuan respectively, according to a filing to the Hong Kong stock exchange on Wednesday.Rivals 361, Li Ning, and Anta have similarly posted profit gains ranging from nearly 10 per cent… Source link

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Singapore 

Former 1980s actresses Chen Bifeng, Ye Sumei pay last respects to late veteran actor Bai Yan, Singapore News

SINGAPORE – Leading 1980s television actresses Chen Bifeng, Zeng Huifen and Ye Sumei were among the artists who paid their last respects to veteran local actor Bai Yan, who died early on Monday (Aug 19). The trio had all been goddaughters to Bai, who died months after celebrating his 100th birthday in May. Bai’s granddaughter Jenny told Chinese evening daily Lianhe Wanbao that former actress Zeng turned up at the wake on Monday afternoon. Best known for her role in Samsui Women (1986), Zeng is now based in the United States…

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Property 

Bank in Denmark will pay you to take out a mortgage. Yes, that’s right

The world’s headlong dash to zero or negative interest rates just passed another milestone: A bank in Denmark is paying homebuyers to take out mortgages.Jyske Bank A/S, Denmark’s third-largest lender, announced in early August a mortgage rate of -0.5 per cent, before fees. Nordea Bank Abp, meanwhile, is offering 30-year mortgages at annual interest of just 0.5 per cent.Years of easing by central banks hacked away at interest rates around the world, distorting the traditional economics of… Source link

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Singapore 

OG founder’s grandson need not pay prosecution’s legal costs in harassment case, Singapore News

SINGAPORE – The grandson of the founder of OG department store, convicted of harassing his wife’s then husband who had brought the charge against him, does not have to pay the legal costs of the prosecution. Lawyer Luke Lee, who led the prosecution, spoke to The Straits Times outside the courtroom but declined to reveal the costs, saying it was a “five-figure sum”. Following the decision by District Judge Ng Cheng Thiam on Tuesday (Aug 13), Mr Lee’s client, civil servant Desmond Tay Kwang Ju, who turns 40 this year,…

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Home 

As Hong Kong lenders trim staff, prospects tighten for some expat bankers unless they change roles, take a pay cut

As Deutsche Bank and other big banks reduce staff, expatriate financial workers who are made redundant and want to stay in Hong Kong may find it more difficult if they are unwilling to learn a new language, shift to a different area of the industry, or take a more junior role at a reduced salary, according to headhunters.The job prospects are particularly tight for trading and banking positions tied to equities, as firms have begun reducing headcount against the backdrop of more uncertain… Source link

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Vietnam 

Gas emitting factories in four provinces will have to pay up – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A mangrove forests along Tam Giang lagoon in Quảng Lợi commune in Thừa Thiên- Huế Province’s Quảng Điền District. Thừa Thiên-Huế is one of four provinces chosen for a pilot payment plan if they release too much gas into the environment.— VNA/VNS Photo Hồ Cầu HÀ NỘI — Factories which omit too much carbon dioxide waste will have to pay fees under a new pilot scheme in four provinces. The plan was passed during a conference held in Hà Nội on Wednesday. The idea is for the next two years, 20…

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Investment 

Hong Kong’s biggest corporate chieftains are better off than shareholders as median executive pay outstrips stock performance

Tencent Holdings, China’s largest games publisher, is now the biggest pay master among Hong Kong-listed companies. From left: Chief Strategy Officer James Mitchell, President Martin Lau Chi-ping, Chairman and CEO Pony Ma Huateng and CFO John Lo Shek-hon during an event on 21 March 2018. Photo: SCMP/Winson Wong Source link

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Home 

China has ‘price to pay’ for cutting US dollar share of forex reserves, analysts say

China’s sharp reduction in US dollar asset holdings has increased the risk of its investment portfolio, analysts have said in response to a disclosure of historical data by the agency charged with managing its foreign exchange reserves.The State Administration of Foreign Exchange (Safe) on Sunday disclosed that it had cut the portion of US dollar-denominated assets in its reserves portfolio to 58 per cent in 2014, below the international average of 65 per cent and down sharply from the 79 per… Source link

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Singapore 

Singaporeans 6th most vacation-deprived globally, will take pay cut for holiday: Poll, Singapore, Lifestyle News

SINGAPORE – Nearly two-thirds of full-time workers in Singapore felt ‘vacation-deprived’ last year, with about four in 10 saying they could not get enough time off work to use up their annual leave. Some 77 per cent said they would take a pay cut to get an extra day off. These were the findings of travel agency Expedia’s latest vacation deprivation survey released on Thursday. The firm polled more than 11,000 full-time working adults across 19 markets globally, including 300 respondents in Singapore. With 63 per cent of Singapore workers…

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Singapore 

Singapore job-seekers expect 17% pay rise on average when they switch jobs: Survey, Singapore, Business News

SINGAPORE – Job-seekers in Singapore are looking to get a 17 per cent bump in pay when they switch jobs, after averaging across industries and levels, said a report by RGF International Recruitment. Its survey found financial compensation to be the driving factor for 61 per cent of job-seekers in Singapore, with 83 per cent of respondents saying they expect a salary increase. After compensation, the next factors which drive job-seeking are working with “top calibre colleagues” (13.6 per cent) and career advancement opportunities (10.8 per cent). The recruitment firm’s…

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