UNIFORM DEED Fees The measures, which take effect on December 1, include a reduction of the minimum area for homes that used to be taxed up to 3 %, from 90sq m to 140sq m. According to CCTV, the next home document tax legislation in Beijing, Shanghai, Guangzhou, and ShenzhenContinue Reading
After a 22-year legal battle over the right to use its name, Manolo Blahnik, the high-end foot company with some famous fans and frequently seen in the TV series Sex and the City, has opened its primary business in mainland China. The firm anticipates opening a business every year inContinue Reading
Nissan announced a reduction of 9, 000 jobs and a five of the world’s output capacity while revising its yearly income outlook in response to negative trends in China and the US. Japan’s third-largest automaker cut its annual operating profit forecast by 70 per cent to 150 billion yen (Continue Reading
HONG KONG: HSBC Holdings posted a 10 per cent rise in third-quarter profit on Tuesday (Oct 29), beating analyst estimates, as its wealth and wholesale banking benefited from slower-than-expected rate cuts while it embarks on one of the largest overhauls in its history. Europe’s largest bank posted pretax profit ofContinue Reading
China’s largest shopping event is taking place, but most retailers and financial analysts are anticipating a level or at best tepid sales increase, noting that consumers are still deeply moved by the country’s economic woes. The Singles Day buying feast, which started last year, has evolved from an Alibaba functionContinue Reading
SEOUL: Samsung Electronics issued a rare apology and acknowledged on Tuesday ( Oct 8 ) that it was facing a” crisis” over its technological competitiveness, reflected in a disappointing profit guidance, despite a global AI boom. Samsung reported a third-quarter profit increase of 9.1 trillion won ( US$ 6.8 billionContinue Reading
Tokyo: Following a significant interest rate cut by the US Federal Reserve, there was a mixed response on Asian share markets on Thursday ( Sep 19 ). The Fed’s standard policy rate window was lowered by 50 basis points, moving from 4.75 to 5.5 %. In Singapore, the Straits TimesContinue Reading
Beijing: China’s Ministry of Finance ( MOF ) announced on Friday ( Sep 13 ) that PwC’s audit of troubled property developer China Evergrande Group had a six-month business suspension. According to a statement posted on the MOF site, the government also fined PwC Zhong Tian LLP, the registered financeContinue Reading
Liu Jin, vice chairman and president of the Bank of China, resigned on Sunday ( Aug 25 ) for personal reasons, the bank said. According to a filing the banks released on Sunday, the state-owned merchant announced that its table had approved president Ge Haijiao to function as acting president.Continue Reading
Beijing alleged on Friday ( Aug 9 ) that it had filed an appeal with the World Trade Organization regarding the EU’s decision to impose additional tariffs on Chinese imports of electric vehicles. After its executive branch discovered that Chinese Batteries were badly undermining European rivals, the EU added upContinue Reading