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Singapore investment holding firm United Industrial raises stake in Marina Centre for S$485 million

United Industrial Corporation, a subsidiary of UOL Group, is acquiring a further 24.27 per cent stake in indirect subsidiary Marina Centre Private Holdings (MCH) for S$485.3 million (US$358.86 million), to be paid in cash. It already owns a 53.07 per cent stake in MCH.The acquisition is being made through the purchase of shares from the following vendors – 10 per cent from OUE for S$200 million, 10.27 per cent from Finnegan Investments for S$205.3 million and 4 per cent from Mackmoor for US$80… Source link

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China 

United States sets sights on China in new electric vehicle push

US government officials plan to meet carmakers and lithium miners in Washington next month as part of an effort to launch a national electric vehicle supply chain strategy, according to sources familiar with the matter.While Volkswagen AG, Tesla and other electric-focused carmakers and battery manufacturers are expanding in the United States and investing billions in the new technology, they are reliant on mineral imports without a major push to develop more domestic mines and processing… Source link

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Singapore 

Inter Milan, Juventus, Manchester United and Tottenham confirmed for ICC Singapore, Singapore News

SINGAPORE – English Premier League (EPL) giants Manchester United and Tottenham Hotspur, along with Italian Serie A’s top clubs Juventus and Inter Milan have been announced on Wednesday morning (March 27) as the teams playing in the International Champions Cup (ICC) in Singapore in July. The pre-season tournament for Europe’s top football clubs will be played in Singapore’s National Stadium. The Red Devils will take on Inter on July 20 and a day later, the Old Lady of Turin will meet Spurs. Legends from the clubs – Dwight Yorke (United),…

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China 

Hamburger and stir-fry diplomacy: how China and the United States showed goodwill in trade war talks

Trade talks in Washington last month were so intense that Chinese Vice-Premier Liu He and US Trade Representative Robert Lighthizer had to skip the usual formal lunch one day and dine in on takeaway, a Chinese official has revealed for the first time.Vice commerce minister Wang Shouwen, a member of the Chinese delegation, said on Saturday that both sides pressed on with the negotiations for four days – through the weekend, heavy snow and a US government shutdown.In a gesture of goodwill and… Source link

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China 

‘No second choice’: Liu He, China’s man on the front lines of the trade war talks with the United States

Nine months ago, Liu He, the top economic aide to President Xi Jinping, told state media that China and United States had agreed during talks in Washington not to fight a trade war.His words were short lived as only a few days later US President Donald Trump unexpectedly decided to impose trade sanctions on China and start a prolonged economic battle between the world’s two largest economies.Last week, Liu, carrying the title of special envoy in addition to those of chief trade negotiator and… Source link

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Singapore 

Female staff member of Hougang United charged with CBT over $278,000 clubhouse funds, Singapore News

SINGAPORE – An employee of Singapore Premier League club Hougang United has been charged over the loss of more than $250,000 from their clubhouse operations. While working as an admin assistant, Malaysian Tean Tai Tee allegedly misappropriated $278,200. The 24-year-old woman was arrested and charged in court on Dec 16, 2018 with one count of criminal breach of trust by a clerk or servant. She is said to have committed the offence between Nov 29 and Dec 11. Tean’s bail was set at $100,000 and she is due back in…

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China 

China and United States make ‘progress’ in Beijing but trade war talks to continue in Washington next week

China and the United States have agreed to continue talks in Washington next week after two days of negotiations in Beijing produced “progress” but not enough to seal a deal to end the trade war, a source who had been briefed on the talks told the South China Morning Post. “Talks will continue next week among the same group of people, but at a different place”, the source said, who declined to be identified. “The last two days in Beijing made progress but not enough to seal a final deal.”…

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Global 

United States to remain sole global economic superpower until 2035, Chinese government think tank says

The United States will remain the world’s only global economic superpower until 2035 even though China’s role in the world economic landscape will become more important, according to Beijing’s latest predictions, in an apparent toning down of the mainland’s public ambitions for its future role in global economy. While the report by the Development Research Centre of the State Council (DRC) does not directly address the rivalry between China and US, it does attempt to project a relatively low profile role for China over the next two decades. It is…

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China 

Where? When? How? China and United States at odds over right place and time for next Xi-Trump summit

Beijing has suggested the next China-US summit take place on the tropical Chinese island of Hainan next month, following suggestions from the White House that US President Donald Trump is eager to meet with his counterpart, Xi Jinping, sooner than later. “He wants to meet with President Xi very soon,” White House adviser Kellyanne Conway told Fox News on Monday, adding that it “absolutely” looked like both sides were closing in on a deal to end the trade war. Chinese officials proposed that Chinese President Xi Jinping and his US…

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China 

United States view new efforts to rein in China’s ‘mercantilist’ trade practices via WTO as ‘unrealistic’

Negotiating new World Trade Organisation rules to try to rein in China’s “mercantilist” trade practices would be largely a futile exercise, the Trump administration’s trade office said, vowing to pursue its unilateral approach to protect US workers, farmers and businesses. In an annual report to the United States Congress on China’s World Trade Organisation (WTO) compliance, the US Trade Representative’s (USTR) office said it would be “unrealistic to expect success in any negotiation of new WTO rules that would restrict China’s current approach to the economy and trade in a…

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