China 

China’s workforce saving more for retirement amid concerns about state pension, survey finds

The number of Chinese saving for retirement increased slightly in the past year, data from a new survey showed Thursday, as worries increased that the government’s scheme would run out of money before most younger workers retired.Half of the 50,000 respondents aged between 18 and 60 said they had begun putting away private savings, up from 46 per cent last year, according to the China retirement readiness survey released by Fidelity International and Ant Financial.Among 18 to 34-year-olds –… Source link

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Vietnam 

State domestic revenue rises 14% to US$34.8 billion in eight months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  It is also estimated that domestic revenues collected by 55 of all 63 provinces and cities have beat the full-year target, which is set at 65 per cent. — Photo petrotimes.vn HÀ NỘI — The State budget’s domestic revenue in the first eight months of 2019 is estimated at VNĐ808.8 trillion (US$34.8 billion), according to the Ministry of Finance. The figure is equal to 68.9 per cent of the full-year plan and up 13.9 per cent year on year. The domestic revenue is made up…

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China 

Carrie Lam denies reports of talks with state firms on buying up Hong Kong

The Hong Kong government on Friday denied reports of plans for Chinese state-owned enterprises to step up investment and take control of major commercial assets in the city.According to various news reports, China’s state-owned asset watchdog told officials from roughly 100 of the country’s biggest state firms to invest in real estate and tourism projects that would create jobs and stabilise financial markets in Hong Kong, helping to calm unrest in the city.The reports said the State-owned… Source link

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Vietnam 

State loss-making projects can bring problems to arbitration: Deputy PM – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The Dung Quất Bio-ethanol Plant in the central province of Quảng Ngãi, one of the 12 loss-making projects being supervised by the State Capital Management Committee. – Photo petrotimes.vn HÀ NỘI – Deputy Prime Minister Vương Đình Huệ agrees 12 loss-making State-funded enterprises may bring their conflicts with contractors to arbitrators if those conflicts are not resolved by the end of this year. According to the State Capital Management Committee, main conflicts between those companies and contractors are related to engineering-procurement-construction (EPC) contracts. Seven of the 12 companies have…

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Global 

Institutional investor confidence slips to lowest level globally in four months, State Street says

State Street said its Global Investor Confidence Index in August fell to the lowest level in four months in another sign the US-China trade war is weighing on business and sentiment.The financial services company said on Wednesday that sentiment among institutional investors declined for the third month in a row as uncertainty over monetary policy and trade tensions reduced risk appetite amid concerns over potential downside risks to the economy.“This month’s investor confidence index results… Source link

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Vietnam 

State Treasury raises nearly $80m via G-bonds – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The State Treasury raised VNĐ850 billion worth of 15-year bonds with average yield rate of 4.68 per cent per year, the same rate offered in the previous auction on July 31, 2019. HÀ NỘI — The State Treasury of Việt Nam mobilised VNĐ1.85 trillion (US$79.54 million) through Government bond auctions on the Hà Nội Stock Exchange (HNX) on Wednesday. Some VNĐ2 trillion worth of G-bonds were offered, including 10-year and 15-year bonds each valued at VNĐ1 trillion. Specifically, bonds with 10-year terms were sold out at an interest rate of 4.42 per cent, down 0.02…

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Vietnam 

State Treasury to become digital in next ten years – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Participants discuss solutions for the development of the State Treasury in the future. — Photo thoibaotaichinh.vn   HÀ NỘI — The State Treasury of Việt Nam will set up an effective and transparent treasury system in the next ten years, said General Director Tạ Anh Tuấn. This is a key part of the draft strategic direction for development of the State treasury in the period 2021-30, Tuấn said at a conference co-hosted by Vietnam State Treasury and International Monetary Fund (IMF) in Hà Nội on Monday. He said the State treasury…

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Vietnam 

State Financial funds should be restructured for efficiency – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Workers repair Trần Hưng Đạo Street work in Lao Cai City. — Photo baolaocai.vn HÀ NỘI — The operation of some State financial funds have overlapped with the State Budget in terms of purpose and tasks, experts have warned. The statement was made at a meeting held between the National Assembly (NA)’s supervising team and the Government on the implementation of a legal framework relating to the management and use of off-budget financial funds in 2013-2018 period held in Hà Nội on Friday. According to the supervising team, though the…

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China 

China nudges top tech firms from Tencent to Alibaba to give new life to struggling state giants

China is pushing ahead with plans to upgrade its lumbering state-owned enterprises, directing its leading technology firms to increase investment in underperforming SOEs.Internet companies such as Tencent were being encouraged to forge stronger ties with state firms, Chinese media quoted Hao Peng, Communist Party boss of the country’s assets watchdog, the State-owned Assets Supervision and Administration Commission (Sasac), as saying. Sasac directly supervises more than 50 trillion yuan (US$7.2… Source link

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Property 

Allianz and Gaw Capital buy iconic office, shopping complex in Singapore for US$1.2 billion amid ‘flurry’ of investment in city state

Hong Kong-based Gaw Capital and Allianz Real Estate have bought part of an iconic mixed-use development in Singapore for S$1.6 billion (US$1.17 billion), in the city state’s largest private sector office sale in almost two years.They acquired Duo Tower, a high-rise office building and Duo Galleria, the neighbouring shopping mall, from M+S Pte, a partnership between state-owned entities of Malaysia and Singapore.The eye-catching hexagonal plated towers form a distinctive part of Singapore’s… Source link

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