SHANGHAI: & nbsp, the US coffee behemoth Starbucks, opened a$ 220 million facility outside of Shanghai on Tuesday( Sept 19 ), demonstrating that well-established multinationals continue to look to China for growth despite the country’s waning post-COVID recovery. According to a study conducted on Tuesday by the American Chamber ofContinue Reading
HONG KONG: Despite the fact that Chinese designers Country Garden and Sunac forged loan agreements with creditors to help the crisis-stricken real estate industry, there was still doubt regarding a treatment in house sales. Shares of Sunac China Holdings increased by as much as 14 % on Tuesday( Sept 19)Continue Reading
HONG KONG: Following the arrest of several of the debt-ridden company’s employees in China on Monday( Sept 18 ), shares of troubled developer China Evergrande Group fell 25 % as markets opened in Hong Kong. Early morning trading saw Evergrande’s share price fall to HK$ 0.47, the lowest level inContinue Reading
HONG KONG: After twice avoiding default at the last minute earlier this month, embattled Chinese property developer Country Garden must pay US$ 15 million in interest linked to an offshore bond by Monday’s ( Sep 18 ) deadline. The No. 1 exclusive developer in the nation will have 30 daysContinue Reading
JAKARTA: As the nation’s statistics agency reported on Friday, wheat exports increased significantly for the first eight weeks of the year compared to the same period in 2022. This is because the government wants to recharge its stockpiles. During a lecture on the nation’s business information, Amalia Adininggar Widyasanti, theContinue Reading
BEIJING: China warned on Thursday( Sep 14 ) that a European Union investigation into Beijing’s electric car subsidies would harm its trade ties with the bloc, which it accused of” naked protectionism.” The EU may impose duties on vehicles it believes are badly sold for less money, undercutting European rivals,Continue Reading
Moody’s on Thursday( Sep 14 ) lowered the outlook for China, which has been hit by the financial crisis, from stable to negative, citing issues with economic growth that the ratings agency claimed would reduce sales despite government support. According to Moody’s, contracted sales in China were expected to declineContinue Reading
BEIJING: In response to media reports that some government agencies and businesses had ordered employees to stop using Apple iPhones at work, the Chinese foreign ministry stated on Wednesday( Sept 13 ) that China has not outlawed the purchase and use of foreign phone brands. When questioned about the reports,Continue Reading
HONOI: As part of US President Joe Biden’s visit to Hanoi on Monday( Sept 11 ), executives from major US and Taiwanese companies in the silicon, tech, and aircraft sectors gathered to discuss potential business alliances with recently unveiled AI deals. The Vietnam-US Innovation & amp, Investment Summit was attendedContinue Reading
WHAT DOES THE State DO? China has chosen wise and focused measures rather than a comprehensive but expensive treatment plan that some economists have advocated in an effort to strengthen its finances. In July, government unveiled measures intended to encourage the order of electric vehicles and household appliances. In anContinue Reading