Vietnam 

Foreigners still permitted to make term deposits at Vietnamese banks – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Resident and non-resident foreigners in Việt Nam are still permitted to make term deposits at local banks. — VNA/VNS Photo HÀ NỘI — Resident and non-resident foreigners in Việt Nam are still permitted to make term deposits at local banks despite some banks saying they would not accept savings deposits from individual foreign customers, the State Bank of Việt Nam has said. Last week, some banks announced that they would stop taking savings deposits from foreign individuals starting this month to follow the central bank’s Circular 48/2018/ TT-NHNN, which took effect on July…

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China shares suffer steep falls as expectations diminish for US Fed rate cut in near term

The Shanghai Composite Index fell sharply Monday, as traders fretted that upbeat US jobs numbers make it less likely the US Fed will soon lower interest rates and that a hot new tech board will depress prices of other Chinese shares.The Shanghai benchmark fell in the morning session by 2.5 per cent to 2,937 points. All sectors were down in early trading, led by communication services and information technology, which were both down by more than 3 per cent.Shares of Seazen Holdings – linked to… Source link

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Vietnam 

FMCG market forecast to grow strongly in the long term – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM CITY — The fast moving consumer goods market will remain strong in the long term in the country’s four major cities of Hà Nội, Đà Nẵng, HCM City, and Cần Thơ and see an acceleration in rural areas, according to Kantar Worldpanel, a global data, insights and consulting company. In its latest FMCG monitor report, the company said though oil and electricity prices increased in April the consumer price index remained under control in the first four months, growing at the lowest rate in the last three years. Retail…

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Singapore 

Engineer who drove against traffic given mandatory treatment order after appealing against jail term, Singapore News

SINGAPORE – An engineer who drove against the flow of traffic on the Ayer Rajah Expressway (AYE) for about 2km was given a two-year mandatory treatment order (MTO) on Friday (April 26) after the High Court allowed his appeal against his original sentence of four weeks’ jail. Brandon Ng Hai Chong, 31, is also banned from driving for five years. In allowing Ng’s appeal, Justice Aedit Abdullah said the district judge who imposed the jail term last year erred in finding that rehabilitation was not the dominant sentencing principle in…

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For a more equal and still diverse Indonesia, all of Asia should hope Widodo’s second term is successful

Anyone who has spent time in Indonesia will almost certainly have been influenced, and impressed, by the wayang shadow theatre, now honoured by Unesco as a masterpiece of oral heritage.To me, it captures the mystery, complexity and inscrutability of Indonesia: a country in which the significant majority of the population (87 per cent) is Muslim, but is not a Muslim state and honours the diversity of its Hindu, Christian and Confucian communities; a country held together by founding president… Source link

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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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Singapore 

On a term employment contract? Here’s how to not get cheated of your MOM entitlements, Singapore News

If you thought the employees toiling long hours at the office had it bad, wait till you speak with the contract staff. Not only do these folks work just as hard as everyone else, they’re often denied benefits like annual leave and bonuses. But now, the Ministry of Manpower (MOM) has stepped in and set out guidelines on the employment of contract employees, just so unscrupulous employers can stop exploiting them. Here are three benefits that contract employees should now be receiving. LEAVE BENEFITS FOR TERM CONTRACT EMPLOYEES If you’ve…

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Declining home sales in smaller Chinese cities during Lunar New Year point to longer term troubles

A country road in Dezhou, in China’s northern Shandong province. Property purchases by residents of a nearby village drove up prices in downtown Dezhou from 4,000 yuan per square metre at the beginning of 2018 to more than 8,000 yuan by year end. With provincial governments around China scaling back slum redevelopment plans and cutting back on cash compensation in 2019, property in cities like Dezhou will become even more unaffordable, according to a prospective buyer. Photo: AFP Source link

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Beijing’s small businesses face uncertain short term future due to tighter tax rules despite China’s government vowing to reduce overall burdens

Small businesses in Beijing face an uncertain short term future when a tighter tax collection method comes into force next year, according to a corporate legal and tax consultant in the Chinese capital. From January 1, small privately-owned businesses will have to pay their business rates based on their actual accounts, rather than the current practice of paying a fixed amount periodically based on revenue estimated by the tax department. The move, which was announced at the end of last month by tax authorities in all districts of China’s capital…

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Singapore 

Longer jail term for Metro scion after appeal by prosecution, Singapore News

Metro family scion Ong Jenn, who was slated to be released from prison on Nov 10 and placed on home detention, will have to spend a longer time in jail for two charges of attempted drug possession. Yesterday, the High Court increased his jail term from two years to three after allowing an appeal by the prosecution for a heavier sentence to be imposed on Ong, 43. “There should be a clear signal of deterrence,” said the court, noting a recent increase in cannabis abuse. The charges in the current case relate…

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