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Hong Kong’s prime office market wobbles as Chinese firms scale back amid trade war

Hong Kong’s prime offices, the world’s most expensive for four years running, are losing their cache as a year-long US-China trade war has deterred companies from taking on more space, forcing landlords to offer discounts.Grade-A office rent in the Central district dropped 0.1 per cent in the second quarter, reflecting the first quarterly decline since the final three months of 2013, while rents in Wan Chai and Causeway Bay fell 0.4 per cent during the same period, according to JLL’s data… Source link

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Singapore is ‘actively studying’ virtual banking licences, says country’s prime minister

Singapore is actively studying whether to allow companies with no banking parentage to set up virtual banks, paving the way for start-ups like on-demand services operator Grab to potentially enter the formal financial services industry.“Some other countries have created frameworks to license new players with no banking parentage to set up digital banks, i.e. banks without branches or ATMs,” Singapore Prime Minister Lee Hsien Loong said in a speech at the Smart Nation Summit in the city on… Source link

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Property 

Prime Hong Kong office rents are most expensive globally for fourth straight year, CBRE says

Prime office rents in Hong Kong’s Central district are the most expensive globally for a fourth straight year, with growth in rents across Asia doubling year on year, US commercial real estate services and investment firm CBRE said in a report on Tuesday.Currently, six of the 10 most expensive office markets are in Asia, and rental growth in the region has almost doubled year on year to 3.3 per cent.The average annual rent for a prime office in Central, inclusive of taxes and fees, rose to US… Source link

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Singapore 

28 people taken to hospital after collision between prime mover and lorry in Tuas, Singapore News

SINGAPORE – More than 30 people were injured in an accident in Tuas on Saturday (May 25). The police were alerted to the accident between a prime mover and a lorry at the junction of Tuas South Avenue 5 and Tuas South Way at 6.30am. The lorry driver, a 48-year-old man, and 12 lorry passengers were conscious when taken to Ng Teng Fong General Hospital. Another 15 passengers were taken to National University Hospital. The Singapore Civil Defence Force said that four others suffered minor injuries and refused to be…

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Prime Minister asks Vietnam Airlines to provide better services – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Prime Minister Nguyễn Xuân Phúc at Vietnam Airlines’ celebrations to mark the 15th anniversary of its first direct flight to Russia. — VNA/VNS Photo Thống Nhất MOSCOW — Vietnam Airlines should offer safe and competitive services to Russia since traveling between Việt Nam and Russia is more important than ever now since the two nations are working to promote their comprehensive strategic partnership, particularly in trade and investment, Prime Minister Nguyễn Xuân Phúc has said. Speaking at a ceremony held on Thursday by Vietnam Airlines to mark the 15th…

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Vietnam 

Prime Minister sets solutions for international integration – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Foreign tourists take a city tour in Hà Nội during the DPRK-USA Summit in February. The Prime Minister has noted that over the past five years, international integration has helped build a peaceful domestic environment. — VNA/VNS Photo Quang Hải HÀ NỘI — Individuals and businesses alike should be the subject of international integration, Prime Minister Nguyễn Xuân Phúc said during a teleconference on Tuesday. The cause of international integration will only achieve success with constructive and effective participation of all individuals and businesses, the leader said.  He urged…

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Singapore 

Heng Swee Keat to be appointed Deputy Prime Minister; DPMs Teo Chee Hean and Tharman Shanmugaratnam to become Senior Ministers, Singapore News

SINGAPORE – Finance Minister Heng Swee Keat will become Deputy Prime Minister from May 1, in a move that cements his standing as Singapore’s next prime minister. Meanwhile, both existing DPMs – Mr Teo Chee Hean and Mr Tharman Shanmugaratnam – will relinquish their appointments, the Prime Minister’s Office (PMO) announced in a statement on Tuesday (April 23). They will be appointed Senior Ministers and remain in Cabinet. Mr Heng will remain Finance Minister, and continue chairing the Future Economy Council and National Research Foundation. He will be appointed Acting…

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Vietnam 

Prime Minister sets emissions standards for used cars – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A new roadmap, issued by Prime Minister Nguyễn Xuân Phúc, will apply emission standards for road vehicles, including imported used cars. — Photo baogiaothong.vn Viet Nam News HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has set a new roadmap to apply emission standards for road vehicles, including imported used cars. The official Vietnamese regulation titled “Road vehicles – maximum permitted limits of exhaust gases” includes four standards, with standard 1 being the highest permitted limit. In the roadmap, standard 1 applies to vehicles with positive-ignition and…

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China 

Australia’s Huawei 5G ban a ‘hedge’ against future Chinese aggression, says former prime minister Malcolm Turnbull

Australia banned Huawei and ZTE from its 5G network as a “hedge against adverse contingencies” in case relations with China soured in the future, according to former Prime Minister Malcolm Turnbull.Turnbull, who was ousted as leader in August 2018, said that his government “decided not to allow 5G networks to be built out by companies that have an obligation to their own country to assist the intelligence services of those countries”.“We have to, in an uncertain world, hedge against… Source link

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Vietnam 

Prime Minister welcomes Hong Kong-Việt Nam Chamber of Commerce Chairman – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Prime Minister Nguyễn Xuân Phúc (right) meets with Jonathan Choi, Chairman of the Hong Kong-Việt Nam Chamber of Commerce. — VNA/VNS Photo Viet Nam News HÀ NỘI — Prime Minister Nguyễn Xuân Phúc hosted Jonathan Choi, Chairman of the Hong Kong-Việt Nam Chamber of Commerce and President of Sunwah Group, in Hà Nội on Tuesday. The PM underlined the sound co-operation between Việt Nam and China – and particularly Hong Kong – in various fields such as the economy, trade, investment, tourism and culture. Choi expressed his pleasure at…

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