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US-China trade war takes a breather as Beijing sees ‘positive signal’ in Donald Trump’s tariff delay

Escalating trade tensions between China and the United States eased slightly on Wednesday as Beijing hailed the decision by US President Donald Trump to delay or remove some planned tariffs against Chinese products as a “positive signal”.The small ceasefire, announced by Trump on Tuesday, came after Vice-Premier Liu He, China’s lead trade negotiator, talked with US trade representative Robert Lighthizer and US Treasury Secretary Mnuchin by phone on Tuesday.Liu, though, did lodge “solemn… Source link

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Central needs upgrades to foster better connectivity for both people and cars, even as Admiralty takes over as leading hub

During Hong Kong’s early colonial period, Central was the centre of the city’s administration. One of the lasting legacies of 150 years of British rule is that Central remains Hong Kong’s financial hub, containing not only the headquarters of all the city’s leading banks, but also its financial regulatory authorities – the Monetary Authority, the Securities and Futures Commission and the Hong Kong stock exchange.But all cities change over time. Following completion of the Shatin-Central Link… Source link

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Global 

US-China trade war takes heavier toll than expected, wreaking its biggest havoc in the fourth quarter, investment banks say

The US-China trade war, which has raged on for the 13th month last week, will wreak havoc on the world’s two largest economies in the fourth quarter as it takes a heavier toll than previously expected on growth, according to two investment banks.The United States economy faces rising fears of a recession, said Goldman Sachs, which cut its 2019 US growth forecast by 0.2 percentage point to 1.8 per cent in the final three months. China will feel the “biggest hit” from the latest round of proposed… Source link

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Unit of China’s sovereign wealth fund takes over Xiao Jianhua-linked Heng Feng Bank in third case of nationalisation since May

China’s sovereign wealth fund has taken over Heng Feng Bank, a troubled lender linked to fugitive financier Xiao Jianhua, in the third case in as many months of the state exerting its grip over wayward financial institutions.Central Huijin Investment, a subsidiary of the China Investment Corporation that acts as the Chinese government’s shareholder in the country’s four biggest banks, has emerged as a strategic investor in Heng Feng, according to a brief report overnight by Shanghai Securities… Source link

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UK builders envision skills shortage when foreign labour takes a hike after Brexit

Monika Slowikowska is incredulous when people tell her foreigners will still want to come to the UK after the country leaves the European Union.As a Pole who owns a London construction company, Slowikowska is less sanguine. She fears for an industry facing a Brexit immigration clampdown, including high salary requirements for visas and restrictions on low-skilled labour.“We believe that we’re still a paradise destination,” said Slowikowska, who has lived in the UK for 20 years and employs… Source link

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Hong Kong’s New World Development takes advantage of Hangzhou land price curbs, wins plot for 9.8 billion yuan

Hong Kong property company New World Development took advantage of a newly introduced price cap to win a commercial-residential plot of land in downtown Hangzhou for 9.8 billion yuan (US$1.4 billion), a shade higher than the starting bid of 9.6 billion yuan, it said on Tuesday. The deal represents New World’s first foray into Hangzhou.The 93,364 square metre plot, the latest among nine sites the Hangzhou government is offering during a two-day auction, was also the first to be sold under the… Source link

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Singapore 

What it takes to be… A divorce lawyer in Singapore, Lifestyle, Singapore News

Concealed weapons. Armed confrontation. They’re not tropes of a gangland movie, but what Jenny Lai has had to deal with in her 25 years of practice as a lawyer — divorce lawyer, to be exact. Within the confines of a sterile office, it’s hard to imagine such high drama taking place, but perhaps it comes with the territory. In a job where people’s feelings are at stake and emotions run high, things can get ugly. Jenny, who specialises in family and conveyancing law, has seen more than 2,500 divorce cases this…

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Star Market, a ‘breakthrough in 30-year history of China’s stock market’, gets off to shining start as immediate buying spree takes hold

The Shanghai Stock Exchange’s new Star Market got off to a suitably stellar start on Monday morning as all 25 debutants saw their shares jump.The firms, spanning industries from microchips and biotechnology to artificial intelligence, were greeted by an immediate buying spree as trading opened at 9:30am.Anji Microelectronics (Shanghai) got off to the best start as its shares opened 287 per cent higher than the initial public offering price.The new Nasdaq-style board, which debuted on Monday,… Source link

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Singapore 

Jurong West resident takes down potted plants from ledge, Singapore News

A woman who had placed more than 40 potted plants on the corridor ledge outside her Jurong West flat has removed half of them, after being asked to do so by her town council. Last Tuesday, a member of the public posted online a photograph of the potted plants along the third-storey corridor of Block 502 Jurong West Street 51. The plastic and ceramic pots, which were placed on both sides of the handrail on the ledge, were secured to it with metal wires wrapped around or drilled through the…

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Hong Kong’s property market takes its cue from the Hang Seng Index, not protesters

Hong Kong may be suffering its worst political crisis since the territory reverted to Chinese sovereignty 22 years ago, but the city’s house prices are hovering near their all-time high.While the Centa-City Leading Index, a gauge of secondary home values compiled by Hong Kong-based Centaline Property Agency, fell 0.3 per cent in the week ending July 7, it has risen a further 1.8 per cent since the anti-extradition bill protests erupted a month ago, taking the index’s gains since the beginning… Source link

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