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Tencent to consider bid for US$3 billion AS Watson stake, as rival Alibaba shows interest

Chinese internet giant Tencent Holdings is weighing a bid for part of Temasek Holdings’ stake in global retailer AS Watson Group, people with knowledge of the matter said.The Singapore state investment company is considering selling around a 10 per cent stake in the world’s largest health and beauty retail group for about US$3 billion, according to the people, who asked not to be identified because the information is private. That is just under half of its 25 per cent holding.Shenzhen-based… Source link

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China 

Chinese Premier Li Keqiang says foreign investment law shows Beijing is serious about opening economy further

The passage of the new foreign investment law shows China is serious about addressing foreign investors’ concerns, as it continues to open up its domestic market, Chinese Premier Li Keqiang said on Friday.But while foreign observers agreed the law is a step in the right direction, concerns remain that it does not go far enough. There is also widespread doubt among the foreign business community that it will be effectively implemented.In total, 2,929 lawmakers at the National People’s Congress … 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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Singapore 

Elderly woman killed in Jurong East accident: Video shows car crashing through carpark gantry, Singapore News

Video footage showing how a car crashed through a carpark gantry, moments before it caused an accident that killed a pedestrian and injured three others, has emerged online. The four-vehicle accident occurred along Jurong East Street 31 on Tuesday (March 5), at around 6.58pm. An 83-year-old woman died from injuries sustained in the accident. A motorcyclist and two cars drivers were also taken to hospital. In a new video that has surfaced on social media, a silver Hyundai Avante can be seen crashing through the carpark gantry at Block 352.…

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Vietnam 

VN shows great potential for processed vegetable, fruit exports – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY – More Vietnamese businesses should be shifting to processing and exporting vegetables and fruits,which has high demand worldwide, Võ Mai, deputy chairwoman of the Việt Nam Gardening Association, has said. Traditional crops such as rice, pepper, cashew, rubber and coffee in Việt Nam have reached their limits in terms of farming area, productivity and market growth potential, while the global demand for fresh and frozen vegetables is on the rise. Many Vietnamese companies are now investing in vegetable and fruit processing to…

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China’s social credit system report shows that richest provinces are home to the most dodgy firms

China’s wealthiest regions also have the largest number of untrustworthy businesses, according to the government’s social credit system, which rates citizens and companies based on their behaviour. Jiangsu, the country’s second largest provincial economy – 9.26 trillion yuan (US$1.37 trillion) – accounted for 16.7 per cent of the discredited businesses that were added to the national blacklist last year, more than any other region. According to a report compiled by the National Public Credit… Source link

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China’s green finance model shows how saving the planet can also be a savvy investment

Green investing has turned out to be both a good deed and good deal. China, which is now one of the world’s largest markets for green finance, is showing how investing in sustainability is not only important for saving the Earth but can bring about excellent returns for the investor. Other countries should take note.  Chinese President Xi Jinping has made environmental protection one of the top three priorities of his second term and launched an extensive green finance initiative. The… Source link

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Opinion | Travel hub Hong Kong is on the hit list of cyber criminals, as Cathay data breach shows. It’s time it started defending itself

Travellers queue at Hong Kong International Airport to check in for their flight. As a major transit point and popular destination, Hong Kong draws tens of millions of visitors to the city every year, and its travel industry generates and absorbs enormous amounts of data from and about customers. Photo: Dickson Lee Source link

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China 

China’s social credit system shows its teeth, banning millions from taking flights, trains

Millions of Chinese individuals and businesses have been labelled as untrustworthy on an official blacklist banning them from any number of activities, including accessing financial markets or travelling by air or train, as the use of the government’s social credit system accelerates.The annual blacklist is part of a broader effort to boost “trustworthiness” in Chinese society and is an extension of China’s social credit system, which is expected to give each of its 1.4 billion citizens a… Source link

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China 

Bad start continues for China economy as private data shows manufacturing activity weakest since 2016

China’s factory activity contracted for a second consecutive month in January, with the pace of the downturn picking up speed, due in large part to the effects from the ongoing trade war with the United States. The Caixin Purchasing Managers’ Index (PMI), which tracks the activities of small- and medium-sized manufacturing enterprises, fell to 48.3 from 49.7 in December, well below the 49.5 reading analysts expected in a Reuters poll. The January reading is the lowest since February 2016. Readings below 50 indicate that manufacturing sector activity contracted during the…

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