China 

Is China’s concern over a possible US dollar shortage risk forcing companies to sell overseas assets?

This is the final article in a three-part series looking at China’s US dollar shortage risks in the trade war, as it aims to open up its markets.Anbang Insurance Group’s decision to sell its condos at the Waldorf Astoria hotel in New York is the latest in the string of high-profile Chinese divestments that underscores China’s concern that the nation is running short of US dollars.The Chinese holding company bought the Waldorf for a record US$1.95 billion in 2014, but under pressure from the… Source link

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Singapore 

Scientists discover new viruses that can help identify persons at high risk of ‘Cantonese cancer’, Health, Singapore News

SINGAPORE – Scientists in Singapore have identified new variants of a virus that are associated with various cancers – including one that affects Cantonese people more than others. This could make it easier to identify individuals at high risk of developing the cancers, and get them to undergo intervention programmes early. The scientists discovered that the two new Epstein-Barr Virus (EBV) variants are associated with the most common head and neck cancer in Singapore – nasopharyngeal carcinoma – as well as gastric cancer and several kinds of lymphoma. Nasopharyngeal carcinoma…

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Singapore 

SCDF ragging incident: Witness says he told NSF that it’s enter pump well or risk being pushed, Singapore News

On the night he drowned, Corporal Kok Yuen Chin was told he had two choices: he could either enter the fire station pump well himself, or be pushed in. This was told to the Singapore Civil Defence Force (SCDF) officer by rota mate Staff Sergeant (SSgt) Adighazali Suhaimi during the cake-cutting ceremony on the night of May 13 last year. They had gathered in the control room at Tuas View Fire Station to celebrate Cpl Kok’s impending operationally ready date. SSgt Adighazali had told Cpl Kok, 22, a Malaysian national…

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China 

US-China trade war: the financial markets are focused on the wrong risk

The US political strategist James Carville once said that after his death, he would like to be reincarnated as the bond market. “You can intimidate everybody.”Well, the US bond market is a lot bigger and scarier today than in Carville’s time. The US Treasury bond market alone is worth some US$22 trillion. Then there is another US$7 trillion outstanding in US corporate bonds. And that’s without even considering all the US mortgage-backed securities out there.And lately, as the US-China trade war… Source link

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Home 

Ping An OneConnect says it has the artificial intelligence tools to help banks manage risk

Ping An OneConnect, the financial technology arm of Ping An Insurance which was awarded a virtual bank licence last month, plans to provide the technology to help other financial institutions in the city manage fraud and loan default risks.Jeffrey Ng, head of fintech solutions at Ping An OneConnect, said technologies such as micro-expression recognition and natural language processing could be used to enhance the customer due diligence process, especially when lenders are struggling with a lack… Source link

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Home 

Chinese tariffs risk US$200 billion of US gas investments, may spoil America’s ambition to become top global exporter

China’s sharp retaliatory tariff hike on US liquefied natural gas (LNG) will make it challenging for US exporters to secure purchase commitments and project financing, analysts say.A 25 per cent tariff starting June 1 – up from 10 per cent in September – will make it uneconomical for Chinese buyers to import from the US, forcing US sellers to seek long term purchase commitments elsewhere, a prerequisite for getting project financing.The hike, part of Beijing’s retaliatory tariff increase on US… Source link

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Home 

Trump doesn’t need a trade deal with China, and markets had better factor in greater risk aversion

In the 2020 US presidential campaign, “the central issue will be America’s economic relationship with China”, former White House chief strategist Steve Bannon told the Post last week. Bannon’s right. The idea that US President Donald Trump needs a trade deal with China ahead of 2020 may be misguided. And, if that is the case, then it has huge implications for markets which, while reacting to renewed signs of US-China tension, have nevertheless tended to take the view that a deal will be struck… Source link

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Home 

Hong Kong stocks fall to lowest level since January as trade war weighs down risk appetite

Hong Kong stocks declined on Monday to the lowest level in almost four months while shares in China also dropped, as risk appetite remained low amid protracted trade tensions between China and the US.The Hang Seng Index closed 0.6 per cent lower at 27,787.61, the lowest level since January 30. The benchmark rose as much as 9 per cent since the end of January to an April high, but has since given up all the gains as the return of trade tensions prompted weeks of sell-off.In mainland China, the… Source…

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Vietnam 

Risk of money laundering in Việt Nam assessed at ‘average level’ – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The risk of money laundering in the banking and real estate sector was at ‘a high level’ as it accounted for almost 90 per cent of suspicious transactions. — VNA/VNS Photo HÀ NỘI — The risk of money laundering in Việt Nam was at “an average level”, according to a State Bank of Việt Nam (SBV) report released on Wednesday. According to the report on national risk assessment on money laundering and terrorist financing in 2012-17 period, the conclusion was made after analysing trends and money laundering scams as well as money…

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Singapore 

Risk of monkeypox spreading in Singapore is low, say infectious disease experts, Singapore News

SINGAPORE – Singaporeans need not worry too much about monkeypox spreading among the population here, as the risk of it happening here is low, say infectious disease specialists. “I’m not worried about it,” said Dr Leong Hoe Nam, an infectious disease specialist at Mount Elizabeth Novena Hospital. “Monkeypox has been in other countries like the United Kingdom, and there were no local transmissions subsequently. It didn’t happen there, and the chance of it happening in Singapore is low,” he added. On Thursday (May 9), the Ministry of Health (MOH) confirmed one…

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