China 

China economy at more risk from EU recession than US trade war, economist El-Erian says

The “sizeable” chance of a recession in the European Union poses a greater to the Chinese economy than the ongoing US-China trade war, according to noted economist Mohamed El-Erian.The EU is China’s largest trading partner and, according to El-Erian, chief economic adviser to the Allianz Group, the world’s third-largest financial services company by revenue, has “between 50 and 60 per cent” chance of entering recession later this year or early next.This would mean weaker demand for Chinese… Source link

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Singapore 

Risk pooling: The “secret” to CPF life’s lifelong payout feature, Singapore News

Rising life expectancy in Singapore is a welcome trend, but with it comes serious challenges. The number of seniors outliving their retirement savings by depleting their CPF and cash savings will be increasingly common, with serious implications for themselves and society. Statistically, about half of Singaporeans will live beyond the age of 85, and one third of Singaporeans will live beyond the age of 90. What can be done to give future cohorts of Singaporeans a financially secure retirement, regardless of how long they live? Singapore’s answer to this challenge…

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Property 

Managing risk when choosing the right office location

Major cities compete to attract inward investment, highlighting, among other things, a low tax regime, government incentives, an educated workforce and a favourable business culture, including appropriate built space to carry out commercial activities.In Hong Kong, the office market has expanded as advances in communication technology and infrastructure improvements have made many decentralised locations more accessible and more acceptable. However, despite this structural shift, core areas… Source link

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Singapore 

HSA recalls three brands of high blood pressure drug losartan over cancer risk, Singapore News

SINGAPORE – Three brands of a medicine prescribed for high blood pressure are being recalled because they contain higher than acceptable amounts of nitrosamine impurity, which can potentially cause cancer. However, patients currently taking these three brands of losartan are advised not to stop taking the medicine, as the immediate health risk is low, the Health Sciences Authority said in a statement on Thursday (March 28). The drugs affected are the 50mg and 100mg tablets from these brands: Hypergen, Losagen and Losartas. The Ministry of Health (MOH) said that about…

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Home 

A look at China’s Kunlun, whose ownership of gay dating app Grindr is seen as a national security risk by the US

When Beijing Kunlun Tech bought the remaining shares it did not own in gay dating app Grindr in 2018, the Chinese video games developer said the acquisition was “critical” to its social media and content platform strategy that would help it become a leading global internet company.Today, however, Kunlun may be forced to sell off Grindr after a US government body – the Committee on Foreign Investment in the United States (CFIUS) – told the firm that its ownership of the app constituted a… Source link

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Global 

China’s fragile trade economy could be at risk, as EU outlook goes from bad to worse

A recession in Europe would hit demand for Chinese exports and could lead to a further narrowing of China’s trade balance, analysts have said.Existing concerns that Europe was on the verge of a recession were stoked on Friday by new data which shows the bloc’s manufacturing sector is struggling.The euro zone purchasing managers index (PMI) showed that manufacturing contracted in March, at a rate not seen in nearly six years. Along with the already weak performances of major European economies… Source link

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Home 

China’s local government debt a major risk as Beijing allows more borrowings to boost growth, says renown academic

China is unlikely to be the centre for the next financial crisis but the increase in local government debt as Beijing allows more borrowings to bolster growth will be a major risk, warned a renowned academic in capital markets in the country.Professor Wu Xiaoqiu, vice-president of Renmin University of China, said the level of local government debt was close to a “boiling point”.To arrest a slowing economy, the central government is not only allowing the regions to sell more debt to fund local… Source link

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Vietnam 

Public debt a big risk for Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Việt Nam’s economic performance has showed positive signs with last year’s GDP growth rate at 7.08 per cent, the highest rate in the last ten years.— Photo vneconomy.vn HÀ NỘI — The State budget deficit, which regularly remains at a high level, and rising public debt are among the biggest macro-economic risks facing Việt Nam, making it more difficult for the Government to help the economy head towards growth, said Professor Trần Thọ Đạt, principal of the…

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Home 

Tahoe, Chinese developer at biggest risk of default, tries to offload a dozen projects to ease liquidity stress

Mainland Chinese developer Tahoe Group is seeking to offload a dozen projects that it bought for at least 40 billion yuan (US$5.97 billion) in the past two years, according to sources familiar with the matter.It is the latest builder to resort to asset sales to raise cash in the face of mounting debts.China’s 20th largest developer according to consultancy CRIC, Tahoe is a poster child of the sector’s debt-fueled growth, its expansion and ambition having outstripped most of its peers.Tahoe… Source link

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China 

China’s banking regulator declares victory in campaign to curb financial risk

The risk of a financial meltdown in China’s economy has been largely allayed, a senior industry official said on Tuesday, suggesting the government’s three-year campaign to tackle soaring debt and high-risk lending might be coming to an end.“The barbaric growth of shadow banking and overheating of real estate financing have been reined in through strengthened supervision,” Wang Zhaoxing, deputy chairman of the China Banking and Insurance Regulatory Commission (CBIRC), said at a press conference… Source link

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