Singapore 

Daughter of Hour Glass founders loses appeal, to start jail term for drug abuse next month, Singapore News

SINGAPORE – Audrey Tay May Li, 45, the daughter of the founders of luxury watch retailer Hour Glass, will start her jail sentence for drug abuse next month after her appeal was dismissed by the High Court on Friday (March 15). In October last year, Tay was sentenced to 22 months’ jail for repeatedly abusing drugs for two years. On one occasion, she had turned up intoxicated for a psychiatric assessment at the Institute of Mental Health. The former public relations consultant, who is divorced, was arrested in August 2015…

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China 

Is China about to bring shadow banking back out of the darkness to kick start its slowing economy?

One of the main themes of this year’s “two sessions” meetings of the country’s legislature and top political advisory body has been renewed support for the private sector, seen as crucial to the governments hopes of pulling the economy out if its current slump.But the private sector, which accounts for more than 60 per cent of China’s gross domestic product (GDP) growth and creates 90 per cent of new jobs, has suffered in recent years from the government’s deleveraging campaign aimed at… Source link

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China 

China economy enjoys ‘good start’ to 2019 despite slumping car and mobile phone sales

China’s economy “has achieved a good start” to 2019 despite a recent drop in sales of cars and mobile phones, according to the country’s statistics chief. Mobile phone sales plunged 19.9 per cent in February, while total vehicle sales fell for an eighth straight month in the world’s biggest car market. “According to data available as of now, the Chinese economy has achieved a good start,” said Ning Jizhe, the head of National Bureau of Statistics (NBS) on Tuesday, citing stable industrial… Source link

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Property 

Few buyers for latest batch of flats at Sino Land project Grand Central as lacklustre start to year for Hong Kong property market continues

Hong Kong home seekers remained cautious as subdued sales at Sino Land’s Grand Central development in East Kowloon on Saturday continued the slow start for the world’s most expensive housing market this year.A total of 15 flats were sold on Saturday out of the 161 available, according to market sources. The development in Kwun Tong has a total of 1,999 flats, ranging from 333 sq ft to 1,543 sq ft.The latest batch was sold at an average discounted price of HK$21,616 per square foot, up 2.1 per… Source link

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Home 

IPOs off to slow start globally in 2019 amid Brexit, US-China trade war uncertainties, says Dealogic

Companies have only raised US$5.4 billion globally so far in 2019, down by 78 per cent from the same period a year ago, marking the lowest year-to-date value in three years, global financial data provider Dealogic said on Tuesday.The number of deals also dropped to 87 during the period, down by 52 per cent year on year, according to Dealogic. All three regions – Asia-Pacific, the Americas and EMEA (Europe, the Middle East and Africa) – have reported significantly lower initial public offering… Source link

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Home 

Huawei is just the start: 5G will be a central front in the US-China war for technological supremacy

Washington-led opposition to the involvement of Chinese telecoms giant Huawei in the roll-out of 5G technology is just an early skirmish in what will be a long struggle for technological supremacy between China and the United States. The stakes are high, with national security concerns and the lure of big profits going hand in hand. The US National Security Strategy, published in December 2017, bracketed China with Russia, contending that both “challenge American power, influence, and interests… Source link

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Vietnam 

Rubber industry enjoys good start in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Experts predict further growth in rubber exports this year with global demand set to rise 4.2 per cent to 14.59 million tonnes. — VNA/VNS Photo Viet Nam News HÀ NỘI — Việt Nam earned US$220 million from shipping 175,000 tonnes of rubber abroad in January, up 10.8 per cent in value and 28.9 per cent in volume compared to the same month last year. Experts predict further growth in rubber exports this year with global demand set to rise 4.2 per cent to 14.59 million tonnes, while total…

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Singapore 

Suntec City office workers start a post-it ‘conversation’ across buildings , Singapore News

Amidst the morning hullabaloo involving acusations of racism (and a supposed “kidnapping”) and a whole lotta dank memes, Singaporeans learnt about a beautiful friendship forming right under our noses.  Or above — depending if you managed to spot the windows of offices located at Suntec City towers one, two and three. And Twitter user @GurlStrange managed to document it all.  It all started with a simple “Hi” on Jan 11, along with an unexpected reply.  We said “hi” on post-it. Then the office opposite reply leh! They said “hi!” back. I…

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Home 

Hong Kong’s compulsory provident scheme makes positive start to year with 3.95 per cent return in January

Hong Kong’s compulsory pension scheme turned its best performance in a year on the back of a strong stock market rally in the US and Hong Kong, generating an average return of 3.95 per cent in January, according to data from Lipper Refinitiv. The Mandatory Provident Fund lost 8.21 per cent in 2018 – its worst year since 2011 after starting the previous January with gains of 4.4 per cent. The MPF, which covers 2.8 million people in Hong Kong, had its best year in 2017 with gains of 20.9…

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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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