Singapore 

Manpower Minister Josephine Teo warns public of fraudulent website using her name, Singapore News

SINGAPORE – Beware of a fraudulent website using Manpower Minister Josephine Teo’s name to solicit users to provide personal or financial information. Mrs Teo warned members of the public of the website in a Facebook post on Wednesday evening (May 15). She said that the website attributed comments to her in order to get users to sign up for an online platform, provide their credit card or bank details and to make a deposit. Calling the website “highly deceptive and misleading”, she added that it mixed some facts about the…

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China 

US-China trade war could push Macau’s growth below 4 per cent this year, IMF warns

The escalating trade war between China and the United States could further dampen growth in Macau, the International Monetary Fund has said.The gambling hub is already suffering from the slowdown in the mainland’s economy and efforts to curb big-money betting, but the trade war “has the potential to drag Macau SAR’s growth below our medium-term projection of about 4 per cent”, Mariana Colacelli, the IMF mission chief for Macau, said.In a report released last Friday, the fund projected that… Source link

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China 

China’s unsustainable debt levels may trigger large-scale corporate defaults, OECD warns

Risks of large-scale corporate defaults are mounting in China, despite economic growth that “remains robust by international standards”, according to a new report.The Paris-based Organisation for Economic Cooperation and Development (OECD) found that sagging domestic demand and weak export orders have led Chinese authorities to swiftly resort to stimulus measures, through expansionary monetary policy, tax cuts and infrastructure spending.The OECD is an influential intergovernmental economic… Source link

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China 

China must not assume it will overtake US as top superpower, warns former commerce minister

China should not take it for granted that it will overtake the United States to become the world’s top superpower, former commerce minister Chen Deming warned on Sunday.At a forum organised by the Centre for China and Globalisation, a Beijing-based think tank, Chen warned that the country will remain “in the primary stage of socialism” for a long period of time and said its economic size does not give it the leeway to dictate global rules.“When China takes part in global governance, China must… Source link

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Singapore 

Message asking for temporary staff for ‘election project’ is fake, warns Elections Department, Singapore News

SINGAPORE – The Elections Department (ELD) has said that a message circulating on WhatsApp offering temporary work in a “general election project” and asking for personal details is not an official notice. “The public is advised to exercise caution and not to provide their personal data without verification,” it added in a statement on Friday (April 12). The message says ELD is “hiring” 500 temporary staff for “the upcoming General Election Project” between September and October, with training in August. It asks interested parties to send their details such as…

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Home 

HSBC warns global growth is slowing, US-China trade war weighing on sentiment

HSBC’s top leaders warned on Friday that global growth is slowing and continuing trade tensions, including a trade war between the US and China, are weighing on economic sentiment.Chief executive John Flint said that “increased uncertainty and risk” in the global economy are related to rising protectionism, questions about the United Kingdom’s exit from the European Union known as Brexit and the future path of interest rates.“This is yet to translate into higher credit losses, but that could… Source link

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Home 

Hong Kong developers should offer cheap new flats on open market instead of going through opaque tender process, industry guild warns

Hong Kong’s property developers are being urged to offer cheap flats on the open market instead of selling through tender, an opaque marketing tactic that can lead to buyers being overcharged.The Real Estate Developers Association (REDA), which represents 800 members including most construction firms in Hong Kong, said it will host a meeting shortly to discuss the issue with its members. The move comes after the proportion of new flats being sold through a bidding process in the city almost… Source link

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Vietnam 

MoT warns highway investor not to close road – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Transport has asked the investor of Hòa Lạc-Hòa Bình Expressway not to arbitrarily stop vehicles during maintenance work without its approval. “Investors have been instructed to complete procedures to meet the conditions for fee collections at toll booths on the expressway,” said Nguyễn Văn Công, deputy Minister of Transport. The Defence Ministry’s Corporation No. 36 (the project’s investor) previously announced that it would suspend services for vehicles travelling on the expressway from April 15. The reason for…

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China 

US-China trade war could slash US$1 trillion from US economy in a decade warns Chamber of Commerce

The year is 2029, the US-China trade war is still being waged, and it has cost the American economy US$1 trillion.That is the warning contained in a new report commissioned by the US Chamber of Commerce, which calculates the cumulative hit to US growth over the next decade should trade tensions with China continue to escalate.The study, conducted by the Rhodium Group, unpacks the economic impact of three rounds of tit-for-tat tariffs to date and also estimates the effect of a tariff increase to… Source link

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Home 

Hong Kong broadcaster TVB warns it will lose HK$200 million for 2018 financial year

The parent company of Hong Kong’s oldest television station issued a profit warning on Friday, saying it expects a HK$200 million (US$25.48 million) net loss for the financial year ending December 31, 2018.Television Broadcasts (TVB) said in a filing to the Hong Kong Stock Exchange after the close of trading it will write-off approximately HK$500 million on its holdings of SMI Bonds, issued by mainland theatre operator SMI Holdings Group.The expected HK$200 million loss compares to a HK$243… Source link

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