China 

China’s biggest chip maker, SMIC, to withdraw from New York Stock Exchange as trade spat with US spills over to tech sector

China’s biggest maker of semiconductors is to withdraw from the New York Stock Exchange as the increasingly ferocious trade war with the US spills over into the technology sector.Semiconductor Manufacturing International Corp (SMIC) said on Friday evening it has notified NYSE of its intention to apply on June 3 to delist its so-called American depositary receipts from the bourse. In a filing to the Hong Kong stock exchange, where its shares are listed, SMIC cited low trading volumes of its ADRs… Source link

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Home 

China blocks imports from two Canadian pork producers in spat since December 2018 arrest of Huawei’s CFO Sabrina Meng

China has suspended pork imports from two Canadian companies, according to an interview with Canada’s agricultural minister and a Chinese customs document, marking the latest irritant in a widening diplomatic dispute.Agriculture Minister Marie-Claude Bibeau said in an interview with Reuters on Wednesday that she has not yet received an official notice from China of the permit suspensions, and would not identify the companies involved.“We have to look into this,” she said by phone from Ottawa. … Source link

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Vietnam 

Vietnamese companies urged to prepare for impacts of US-China trade spat – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — With trade protectionism increasing, Vietnamese companies should prepare for trade-related lawsuits and disputes but also capitalise on possible opportunities from the ongoing US-China trade war, a top trade remedy official has said. Speaking at a meeting last Friday, Chu Thắng Trung, deputy head of the Trade Remedies Authority of Việt Nam, said: “The trade war between the two largest economies has affected the flow of goods with the US increasing its trade safeguard investigations of major exporters, including Việt Nam. “The trade war…

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Singapore 

Police investigating spat in Pasir Ris between teen cyclist and Audi couple, Singapore News

SINGAPORE – A couple in their 60s and a teenage cyclist who were involved in a heated confrontation in Pasir Ris on Thursday (Feb 28) are assisting the police with their investigations. The police have classified the incident, which took place in Pasir Ris Drive 3 towards Loyang Avenue, as a case of voluntarily causing hurt. A video of the incident, recorded by the 15-year-old cyclist, was uploaded to Facebook group SG Road Vigilante that same night. Prior to the recording, the cyclist allegedly hit the Audi which the 60-year-old…

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Property 

Qatar’s property market faces reality check ahead of World Cup amid oversupply, spat with Gulf neighbours

Qatar’s Doha Tower, a spiked cylinder that glows orange at night, won an award when finished in 2012 amid a Gulf-wide property boom, but today about half of its 46 floors are empty.The office tower, now a familiar part of the capital’s high-rise skyline, has run foul of what real estate brokers, bankers and analysts say is an oversupplied Qatar property market ahead of the 2022 World Cup that mirrors a real estate downturn in the wider Gulf region after a drop in oil prices.Qatar has the added… Source link

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Home 

Rare boardroom spat draws spotlight on corporate governance at Hong Kong-listed company

Shares of China Traditional Chinese Medicine Holdings plunged on Monday after an independent non-executive director resigned, accusing the company of governance shortcomings, including a lack of transparency and improper approval processes for director pay. In an open letter to shareholders of China TCM, independent non-executive director Zhou Bajun said he would resign with effect on Monday owing to the company’s governance problems, reflecting a rare public spat over a board position at a listed Hong Kong company. China TCM shares ended Monday’s session 5.9 per cent lower at HK$4.81, paring…

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Singapore 

Bug found in ‘specialty’ coffee on Boxing Day: ‘I spat out what looked like bits of cockroach’, Singapore News

SINGAPORE – A quick coffee on Boxing Day quickly turned sour for a group of colleagues when they found “extra ingredients” in their beverages. Mr Choo Jin Ting, 26, a content writer, was out with two coworkers for lunch on Wednesday (Dec 26) when they decided to grab some drinks back to the office. The trio each got a cup of iced mocha from Geisha Specialty Coffee at Selegie and left. But as Mr Choo sipped his drink on the way back to the office, he noticed some sediment in…

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Vietnam 

VN exporters could benefit from US-China spat – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — With the US-China trade war escalating, Việt Nam may be able to increase exports of items like furniture, agricultural products, and leather products to the US, a conference heard in HCM City yesterday. In its most recent move, the US imposed a 10 per cent tariff on US$200 billion worth of Chinese imports. The tariff will rise to 25 per cent on January 1 next year. In retaliation, China has decided to impose taxes on about $60 billion worth of imports…

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Home 

JP Morgan says it’s still firmly on track to launch China venture next year, regardless of trade spat

JP Morgan’s co-president Daniel Pinto still hopes its new China securities venture to be approved next year, and insists the US giant’s aspirations in the world’s second largest economy will not be “derailed” there by the country’s ongoing trade war with the US. The biggest bank in the US by total assets, JP Morgan applied to the China Securities Regulatory and Commission last May to open a securities firm in which it will hold a 51 per cent stake. It has said it will increase the stake to 100 per…

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