Search Results for: Singapore

As US President Donald Trump has been wasting no time carrying out his campaign pledges to undo long-standing American trade ties, the Asian apparel industry and the US retailers it supplies have ample reasons to be on edge.

Signs are particularly worrisome for apparel players sourcing from Vietnam, a member of the Trans-Pacific Partnership (TPP), the unratified 12-nation deal that will now not include the USA after Trump extracted America from its commitments via a January 23 presidential memorandum.…

AN INTERNATIONAL consortium of investors led by Singapore’s Changi Airport Group, the Russia-based Basic Element holding company and the Russian Direct Investment Fund (RDIF) sovereign wealth fund have agreed to acquire Vladivostok International Airport from owner JSC Sheremetyevo International Airport.

The takeover is expected to cost Russian Rubles 6 billion (USD100 million).…

UNITED States (US) President Donald Trump’s decision on January 26 to sign an executive order to withdraw from the Trans-Pacific Partnership (TPP) should provide opportunities for European Union (EU) dairy exporters, according to European dairy experts.

“From an EU dairy perspective, we would hope that the European Commission will continue to make an effort in our European trade negotiations, especially with Japan,” Alexander Anton, secretary general of the European Dairy Association, told Food & Drink Technology News.…

The January 23 presidential memorandum from President Donald Trump, puling the USA from participation in the Trans-Pacific Partnership (TPP) trade deal has disappointed the American cosmetics and personal care products sector. This is not only because of the tariff barriers it would have eliminated but also because the TPP would have pushed regulatory controls in all TPP countries in the same direction.…

HONG Kong’s Securities and Futures Commission (SFC) and the Hong Kong Stock Exchange have put listed companies on notice that they will closely monitor rights issues and open offers that substantially dilute the interests of non-subscribing minority shareholders.

In a joint statement, the SFC and the exchange have said they fear in some cases deals have been conducted without complying with requirements to give fair and equal treatment to all shareholders. …

CHINA’S central bank, the People’s Bank of China (PBC), has issued a new anti-money laundering and terror finance reporting requirements for all financial institutions inside the country. The rules come into force July 1. They cover banks, brokers, foreign exchange, online and mobile payment systems and insurance companies, who will have to file reports to the central bank, via their headquarters or via representative institutions, if a client requires daily cash transactions exceeding Chinese Yuan Renminbi CNY50,000 (USD7,261) or a larger amount of USD10,000’s worth in foreign currency.…

THE HONG Kong and Pakistan government have signed a comprehensive agreement on avoiding double taxation. Pakistani tax paid by Hong Kong companies will be credited against Hong Kong taxes on the same profits, with the reverse applying for Pakistan companies. Pakistan’s withholding tax rates for Hong Kong residents on royalties and fees for technical services (both currently 15%) will be capped at 10% and 12.5% respectively.…

THE REGULATORY net has tightened further on controversial Malaysian government-owned development fund 1MDB, with Singapore’s central bank fining two major banks over breaches of anti-money laundering (AML) rules associated with its deals.

Standard Chartered Bank, Singapore Branch (SCB) has been ordered to pay Singapore dollars SGD5.2 million (USD3.6 million) and Coutts & Co Ltd’s Singapore branch SGD2.4 million (USD1,7 million) for breaches of Monetary Authority of Singapore (MAS) AML requirements.…

Indonesian batik producers are turning to social media to boost sales, helping them maintain production when not only standard marketing and distribution channels are not delivering enough revenue but standalone websites and major e-commerce sites.

Rusydi Bawazir, producer of Nargis Batik Podhek, from Madura, East Java province, started online marketing three years ago by using website: nargis.web.id.…

Hacking and data breaches keep Asian IT departments awake at night, but many of the most serious cyber security incidents can be prevented with greater vigilance from HR professionals. Of course, there are a wide variety of risks being posed to companies from online environments, from denial-of-service attacks, to Trojan programmes that monitor computer use, and theft of identities and intellectual property.…