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China’s young rich tech entrepreneurs take off into private jet rentals, ditching the status symbol of ownership

Chinese entrepreneurs used to see owning a private jet as the ultimate symbol of success. Now, young Chinese tech executives increasingly prefer to rent.Ian Moore, an executive with VistaJet which offers rental packages by the hour, said the change he is seeing is being propelled by convenience, savings and increased scrutiny of expenses by investors.“In Asia, the private aviation market is still new, said Moore, VistaJet’s chief commercial officer who is also a director of its UK subsidiary. … Source link

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Aesthetics doctor Georgia Lee denies using celebrity status to convince investors, Singapore News

SINGAPORE – Well-known aesthetics doctor Georgia Lee on Thursday (April 11) rejected suggestions that she had used her celebrity status as a selling point to attract investors to inject funds into her skincare brand. Dr Lee was testifying in a lawsuit brought against her and three of her companies by a movie and TV producer seeking refund of a $2 million investment. Ms Anita Hatta alleges that Dr Lee had misled her into parting with her money in 2012 by inflating sales revenue, overstating her own investment and exaggerating the…

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China 

China refuses to give up ‘developing country’ status at WTO, despite US demands

China will refuse to give up the “special and differential treatment” it enjoys as a developing nation at the World Trade Organisation, in a rebuke to a US proposal that would pare back the privileges China and other nations enjoy on trade.China is categorised as a developing country at the Geneva-based institution, which affords it “special and differential treatment”. This enables China to provide subsidies in agriculture and set higher barriers to market entry than more developed economies… Source link

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Vietnam 

Hurdles keep private sector from achieving preeminent status: experts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — The private sector, despite being considered the driving force of the economy, has yet to achieve a breakthrough due to many reasons, experts said. They were speaking at the Vietnam Economic Conference held in HCM City recently and attended by executives representing more than 300 local and foreign businesses. Asked about the reasons, 54 per cent of attendees said cumbersome administrative procedures, 26 per cent said inability to access capital and 21 per cent blame difficulty in accessing the market. …

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China’s liaison office officials have buying up local flats, drawing focus on tax-exempt status

The Beijing government’s office in Hong Kong, which is exempt from stamp duties, has made a recent string of acquisitions in Hong Kong’s residential market, building up a large portfolio that could be worth billions of dollars, according to market watchers.Newman Investment, whose five directors have the same names as officials from the Administration and Finance Department of the central government’s liaison office, bought 20 flats at Grand Central in Kwun Tong, a residential project jointly… Source link

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Vietnam 

VN looks to achieve emerging market status – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Viet Nam’s securities market has plenty of opportunities to be promoted from a frontier market to an emerging market this year. In June last year, Việt Nam’s equity market failed to be added to Morgan Stanley Capital International’s (MSCI) watch list – the US independent provider of research-driven insights and tools for institutional investors, for classification review for a possible lift from a frontier market to an emerging one. However, according to the latest report released by the State Securities Commission…

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Singapore 

Tangled love affair that led to HIV status leak, Singapore News

It was a love story that progressed through a series of lies to the authorities. When the lies were uncovered, and they were separated, one of them decided to make others pay for it – by revealing the identities and details of 14,200 people who had the human immunodeficiency virus (HIV), like him. It was confidential data from the Ministry of Health (MOH), which had allegedly been downloaded by his partner who worked there. It is only now, months after he was deported from Singapore and separated from his partner…

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Property 

Without sufficient land supply, can Hong Kong maintain its status as a data centre hub?

Land scarcity is a major threat to Hong Kong’s booming data centre industry and its status as a regional hub, according to Sunevision Holdings, the technology arm of Sun Hung Kai Properties. The city’s data centre market is projected to increase from US$705.5 million in 2016 to US$1.5 billion in 2021, a five-year compound annual growth rate of 16 per cent, according to Structure Research, an independent research and consulting firm focusing on the internet infrastructure – cloud and data centres – market. Hong Kong’s race with Singapore to be…

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Vietnam 

Securities companies maintains buy status in October despite market decline – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Securities companies remained net buyers in October despite a strong market decline. According to Stockplus statistics, securities firms purchased 90.6 million shares worth VNĐ3.8 trillion (US$163 million) in October while selling more than 92.3 million shares for VNĐ3.77 trillion. They were net sellers in terms of volume by 1.7 million shares but still net bought more than VNĐ36.4 billion. This was a positive sign given that foreign traders continued to offload shares when the stock market plunged in October. On…

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