China 

Trade war or not, Marvel Studios’ Avengers: Endgame breaks pre-release sales record with millions of China’s movie goers

Walt Disney Studios Motion Pictures’ Avengers: Endgame has broken the record for pre-release ticket sales in China, more than a week before Marvel Studios’ fourth instalment of the Avengers superhero series goes on show in the world’s second-biggest box office market.The blockbuster sold a record 247 million yuan (US$36.8 million) in tickets on Maoyan as of Monday afternoon, a third of which are for the midnight show on April 24 in 3D IMAX format, according to data by China’s largest online… Source link

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China 

China issues record new loans on the first quarter of 2019 as Beijing battles slowing economy amid trade war

China’s efforts to battle its slowing economy amid the trade war with the United States gathered pace at the start of 2019 with banks issuing a record amount of new loans in the first quarter of the year.Banks issued 5.81 trillion yuan (US$865 billion) of new loans between January to March, beating last year’s previous high of 4.86 trillion yuan, the People’s Bank of China said on Friday.In March alone, banks issued 1.69 trillion yuan (US$251 billion) in loans, which was the second highest… Source link

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Home 

Europe’s richest man Bernard Arnault is closing his wealth gap with Gates and Buffett as LVMH shares advance to a record

Bernard Arnault, Europe’s richest man, got another boost as LVMH shares reached a record due to better-than-expected sales of Louis Vuitton handbags and leather goods.The Frenchman, whose fortune has increased by more than US$19 billion in 2019, is rubbing shoulders with Bill Gates and Warren Buffett in the Bloomberg Billionaires Index, with a net worth of more than US$87 billion.LVMH shares rose as much as 4 per cent Thursday to €342.80, the highest level since the stock was listed in October… Source link

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Singapore 

World record haul of pangolin scales worth $52 million seized from container at Pasir Panjang, Singapore News

SINGAPORE – In the biggest single haul in the world in recent years, the authorities on Wednesday (April 3) seized 12.9 tonnes of pangolin scales worth $52.3 million from a container at Pasir Panjang Export Inspection Station. The scales originated from Nigeria and were bound for Vietnam. They were found packed in 230 bags among packets of frozen beef, and declared to contain “frozen beef”. Along with the pangolin scales, 177kg of cut up and carved elephant ivory worth $120,000 were also seized during the inspection. Singapore Customs and the…

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Singapore 

SingPost fined record $300,000 for failing to meet service standards in 2018, Singapore News

SINGAPORE – SingPost has been fined $300,000 for failing to meet standards on the delivery of local and international basic letters and registered basic mail in 2018, its highest fine to date. The fine by the Infocomm Media Development Authority (IMDA) on Friday (March 29) is triple the penalty SingPost received in February for failing to meet regulatory standards in 2017. SingPost had 20 incidents of non-compliance in 2018, compared to nine in 2017, IMDA said in a statement. There were also repeated failures last year – some of which…

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Home 

ZTE to boost 5G, cybersecurity initiatives after posting a record US$1 billion annual loss in 2018

ZTE Corp, China’s second largest telecommunications equipment manufacturer, predicted a turnaround of its business this year, with a projected net profit of between 800 million yuan and 1.2 billion yuan (US$119 million and US$179 million) this first quarter, after reporting a record annual loss of 6.98 billion yuan in 2018.Shenzhen-based ZTE mainly attributed its biggest annual loss to the US$1 billion penalty the company paid to the US government last year as settlement for breaching the terms… Source link

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China 

Volkswagen latest to reduce prices in China ahead of VAT cut with sales at record low amid slowdown

Volkswagen became the latest car brand to cut price in China in a response to next week’s value-added tax cut, but analysts said it would have only limited impact on weakening sales in world’s largest vehicle market.The sales of passenger vehicles dropped 19.0 per cent in February following the first shrink in nearly three decades in 2018, according to data from China Passenger Car Association (CPCA).Beijing rolled out policy measures in January to boost consumer spending on vehicles as one of… Source link

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Home 

Swire Pacific posts record sales and 85 per cent jump in 2018 profit, marking a successful handover of reins to family scion

A supermarket shelf with bottles of Coca-Cola beverages. Swire Pacific, the publicly listed arm of one of Asia’s oldest conglomerates, is also one of the world’s biggest Coca-Cola bottlers, distributing beverages to a franchise population of 727 million people in Hong Kong, Taiwan and 11 provinces in China.Photo: SCMP/Sam Tsang Source link

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Australia’s record high housing prices were driven by low interest rates, central bank study shows

The boom in Australian home prices and building over the past decade or so was primarily driven by lower real interest rates, while strong migration tended to lift rents, according to a study paper from the country’s central bank.The research model from Reserve Bank of Australia (RBA) economists Trent Saunders and Peter Tulip also suggested that a further reduction in real rates could revive home prices after recent weakness.At their peak, prices in Sydney more than doubled between 2008 and… Source link

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China 

China’s new bank lending falls sharply in February from record high

New bank lending in China fell sharply in February because of seasonal factors, and as the government took action to dampen speculative activities after lending hit a record high the previous month.Chinese banks made 885.8 billion yuan (US$131.8 billion) in net new yuan loans in February, only one-third of the record 3.23 trillion yuan in new lending in January, according to data from the People’s Bank of China (PBOC).The February result was below expectations, with analysts polled by Reuters… Source link

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