Home 

Hong Kong protests spook owners of co-working space operator The Executive Centre, who drop planned US$750 million sale

The boss of shared office-space operator The Executive Centre (TEC) said the decision to place on hold a planned sale of its shares for US$750-million was “sensible” given the uncertainty gripping Hong Kong amid unprecedented social unrest.“Placing a pause on the shareholder sales process is a sensible reaction to the unknown unknowns of the current political and social issues being played out in Hong Kong,” said Paul Salnikow, chairman and chief executive of the Hong Kong-based company.The… Source link

Read More
Money 

China to open up finance sector to more foreign investment in 2020, one year earlier than planned

China lifted some restrictions on foreign investment in the financial sector on Saturday, as the world’s second largest economy fights slowing growth at home and a damaging trade war with the US.China will remove shareholding limits on foreign ownership of securities, insurance and fund management firms in 2020, one year earlier than originally planned, the Financial Stability and Development Committee said in a statement posted by the central bank on Saturday.Foreign investors will also be… Source link

Read More
Global 

Michael Bloomberg to host second edition of New Economy Forum in Beijing as planned in November

A high-profile global forum launched by US media mogul Michael Bloomberg to rival the World Economic Forum in Davos will be held in Beijing in November, after the inaugural edition had to be moved to Singapore last year because of a scheduling conflict.More than 500 top business and government leaders will attend the second iteration of the New Economy Forum, hosted by Bloomberg’s company and a Chinese government-backed think tank from November 20 to 22, according to a statement by Bloomberg… Source link

Read More
Home 

Huawei’s planned lawsuit against the US government could help it gain friends in the West, experts say

Huawei Technologies’ planned lawsuit against the US government signals that the company is prepared to go through an open public process to clear its name, a move which could instil greater confidence in other Western countries to use their equipment, according to experts.The Chinese telecommunications equipment company is planning to sue the US government for banning federal agencies from using its equipment and will announce the lawsuit on Thursday, according to a person familiar with the… Source link

Read More
Singapore 

Parliament: Planned GST increase alone won’t be enough for future spending needs, Sitoh says, Singapore News

SINGAPORE – The planned GST increase is but one measure to meet rising spending needs, and will not be able to meet them in full, Mr Sitoh Yih Pin (Potong Pasir) said on Wednesday (Feb 27), as he reminded members about the need for fiscal sustainability and financial prudence. The Goods and Services Tax, currently at 7 per cent, is estimated to bring in $11.69 billion in the coming financial year. And the rise in the tax rate by 2 percentage points to 9 per cent, sometime between 2021 and…

Read More
Singapore 

Chinatown pig lanterns mocked by netizens to be lit as planned, Singapore News

The pig-themed lanterns in Chinatown will be lit on Jan 20 as planned and will ring in the Year of the Pig, despite criticism from some quarters. The lanterns are in the shape of a family of eight pigs – the tallest of which is 12m high. The centrepiece of this year’s Chinese New Year lantern display, the pigs are perched atop a lantern depicting a purse overflowing with gold coins. They are part of a total of 2,688 lanterns that will line the streets of Chinatown until March 6.…

Read More
Home 

CK Asset’s planned hotel-to-housing project in Hong Kong aims to house 7,500 people

The hotel that CK Asset Holdings will convert into a dense housing estate would provide homes to 7,500 people in the New Territories by as early as 2022, according to consultants hired by the company. The redevelopment of the 1,100 -room Harbour Plaza Resort City hotel in Tin Shui Wai into two residential towers with 5,000 flats would cater to three times the number of people than the hotel could. But the expected population increase, said traffic advisers of the project CTA Consultants, would not create congestion in the neighbourhood…

Read More