Singapore 

22 proposed changes made by the tripartite workgroup on older workers that the Government will fully implement, Singapore News

As PM Lee announced, the Retirement Age will be raised from 62 to 65, and the Re-Employment Age increased from 67 to 70. This is in view of both quantitive measures like Singaporeans’ increasing life expectancy and Healthy Average Life Expectancy (HALE) as well as qualitative feedback from older workers. #3 “The raising of the Retirement Age to 65 and Re-employment Age to 70 should be completed by the end of the next decade (i.e. by 2030).” This recommendation sets a specific deadline for completing the phased increase of both…

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China 

China’s proposed digital currency will help banks bridge gap on mobile payment, curb dominance of Alipay, WeChat

The People’s Bank of China’s “imminent” move to launch the country’s own sovereign digital currency underlines the central bank’s urgency to tighten its grip on the nation’s deposit pool and help banks catch up with their mobile payment business, analysts said.The PBOC set up the project in 2014 to look into launching its own digital currency to cut the costs circulating cash and boost policymakers’ control of money supply. Although the project has been closely guarded, various media reports… Source link

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Home 

China considers unwinding rules it put in place after the last equity market crash; proposed change to ease company fundraising

China’s securities regulator is considering scrapping profitability requirements in mergers and acquisitions (M&A) for listed companies, as a way to facilitate secondary fundraising as the trade war weighs on Chinese growth and threatens to push the global economy into recession next year.Under consideration is an amendment to remove profitability requirements in M&A deals involving listed companies, the China Securities Regulatory Commission (CSRC) said in a statement issued on its official… Source link

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Singapore 

K. Shanmugam sits down for interview on proposed fake news law – with Ah Lian, Singapore News

SINGAPORE – Home Affairs and Law Minister K. Shanmugam has given another interview about the proposed fake news law to be read for a second time in Parliament on Monday (May 6). The hard-hitting journalist interviewing him? None other than Ah Lian, a well-known local Internet personality and the alter ego of actress Michelle Chong. “Today lim bu (Hokkien, referring to herself) is want to talk the serious thing. Eh! This thing ah is matter to all of you now watching,” Ah Lian opens the video in her trademark vernacular…

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Vietnam 

Review of policies for biofuel E5 RON 92 proposed over disappointing sales – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HÀ NỘI – Saigon Petro Company Limited recently proposed policies for the development of E5 RON 92 to be reviewed over the significant declines in sales of this biofuel. The company cited statistics showing that the proportion of E5 RON 92 biofuel in retail sales dropped considerably in recent months, from an average of 30.06 per cent in 2018 to 25.58 per cent in January, 22.74 per cent in February and 19.79 per cent in March. In the proposal submitted to the Ministries of Industry and Trade and Finance, the…

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Vietnam 

Credit package proposed for support industry – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Chip panels are produced at Manutronic Việt Nam JSC at Tiên Sơn Industrial Park in Bắc Ninh Province’s Tiên Du District. Support industry is addressed as the backbone of the Vietnamese economy and will receive a US$4.3 billion low-interest loan package to improve its competitiveness. — VNA/VNS Photo Trần Việt HÀ NỘI — The Ministry of Industry and Trade (MoIT) has proposed a VNĐ100 trillion (US$4.31 billion) preferential credit package for the development of the country’s support industry. The ministry says that Vietnamese support industry products could have high competitiveness,…

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Home 

The political message of Hong Kong’s proposed vacancy tax speaks louder than its efficacy in bringing down home prices

Some cities in Australia and Canada have introduced some sort of vacancy tax to motivate owners to put their homes for sale or rental on the market.Vancouver, a city which Hong Kong people are very familiar with, introduced a tax, equivalent to 1 per cent of the assessed value of a property deemed to vacant for more than 180 days. The tax was introduced two years ago when 5 per cent of Vancouver’s homes either stood empty or were underutilised, amid skyrocketing prices and soaring rents… Source link

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Singapore 

Online news sites must publish corrections on fake news, take down false articles under proposed law: Lee Hsien Loong, Singapore News

SINGAPORE – A proposed law will require online news sites to publish corrections or warnings on fake news, or even remove such articles in extreme cases, said Prime Minister Lee Hsien Loong on Friday evening (March 29). These changes to tackle the spread of fake news are part of the Protection from Online Falsehoods and Manipulation Bill, which will be introduced in Parliament on Monday. The new Bill will give the Government the power to hold online news sources and platforms accountable if they proliferate deliberate falsehoods, Mr Lee said.…

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Home 

Opinion | Proposed HK$1 trillion East Lantau Metropolis is the answer to Hong Kong’s future land needs

Seven public rental estates, comprising 20,600 units, are over 50 years old and ready for redevelopment. Yet, it has taken over four years to go through the town planning process to identify a feasible relocation site for the 9,100-unit Wah Fu Estate alone. Chief Executive Carrie Lam Cheng Yuet-ngor shows a pamphlet on the Lantau Tomorrow Vision proposal during a press conference on October 10, 2018. Photo: Dickson Lee The 7,400-unit Choi Hung Estate is facing the same challenge to dig out a massive relocation site. The Housing Authority currently…

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Home 

Hong Kong’s proposed tax break of US$7,650 will encourage additional retirement savings, say top pension providers

Hong Kong’s biggest pension players – HSBC, Manulife, Prudential and AIA – said the government’s proposed law change to offer up to HK$60,000 (US$7,650) in tax incentives will encourage additional savings for retirement.“This is the first time Hong Kong is using tax incentives to encourage voluntary retirement contribution,” said Edward Moncreiffe, chief executive of HSBC Life (International).He said that Singapore saw an increase in voluntary pension contribution after tax incentives were… Source link

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