Market

EU and China to sign investment deal amid unease over rights
29Dec By Mike TrudellNo Comments
China, Market, World

EU and China to sign investment deal amid unease over rights

Despite rising concerns about the human rights situation in Xinjiang, the European Union (EU) and China are set to sign a business investment deal, which, EU hopes will help correct an imbalance in market access and create new investment opportunities for European companies in China by ensuring they can compete on an equal footing.According to an EU official with direct knowledge of the talks, the provisional agreement is set to be announced on Wednesday.The deal was sealed after China committed to pursuing ratification of the International Labor Organization's rules on forced labor, according to the unnamed official.The EU previously said the agreement, known as CAI, which includes provisions for settling disputes, should increase the transparency of Chinese state subsidies and make susta...
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J&K: Young entrepreneur sells Kashmiri apples online, introduces new packaging
28Dec By Joe RodriguezNo Comments
Asia, Market

J&K: Young entrepreneur sells Kashmiri apples online, introduces new packaging

In the Shopian district of the Indian union territory of Jammu and Kashmir, a young entrepreneur is selling world famous Kashmiri apples online by bringing much-needed reforms in the fruit’s packaging at par with global standards.Adnan Ali Khan, 30, has now emerged as a local hero by setting up a supply chain that ensures fair prices to farmers by helping them sell their products on the internet.Khan, a fourth-generation farmer from his family, completed engineering and MBA and is now doing his PhD on “value addition, planning and marketing of Kashmiri products”.He launched his online venture that delivers Kashmiri apples to the doorstep upon receiving orders online.He is probably the first Kashmiri to sell apples in retail packs on the internet. Adnan made his debut in September when he s...
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Shortages, jams and shutdowns: UK readies for Brexit ‘no-deal’ chaos
26Dec By Team FPNo Comments
Market, World

Shortages, jams and shutdowns: UK readies for Brexit ‘no-deal’ chaos

LONDON: Food shortages, tailbacks and congested ports: As talks with Brussels remain unresolved three weeks before leaving the European Union single market, the United Kingdom is preparing for a chaotic "no-deal". Business groups this week warned of difficulties from Jan 1 as a frustrating lack of clarity on a post-Brexit trade deal has left many companies unable to plan properly. "While Britain's businesses are hoping that a Brexit deal will be reached, companies across many sectors will face disruption," said Darren Jones, chair of the parliament's Business, Energy and Industrial Strategy Committee, after meeting business representatives on Tuesday (Dec 8). Businesses warned of "potential food shortages and price rises, and the threat of heaping significant costs onto our car indu...
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Airbnb doubles in US market debut, gaining elite status
26Dec By Team FPNo Comments
Market, World

Airbnb doubles in US market debut, gaining elite status

NEW YORK: Airbnb shares more than doubled in a sizzling US market debut on Thursday (Dec 10) which vaulted the home-sharing platform into an elite group of richly valued companies. Shares opened at US$146, a dizzying rise after the San Francisco-based firm priced them at US$68 for its initial public offering. They closed at US$144.71, a jump of 113 per cent in the market debut. At those levels Airbnb is worth more than US$100 billion, including options and restricted shares, up from the bumped-up US$47 billion at the IPO price. That puts the 13-year-old company on par with major global firms such as IBM, 3M and American Express, for example. Airbnb raised some US$3.4 billion in the offering amid a feverish rush for new shares in companies adapting to lifestyle changes imposed by t...
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J&K: IIP Mumbai conducts workshop on customized packaging to boost export
23Dec By Joe RodriguezNo Comments
Asia, Market

J&K: IIP Mumbai conducts workshop on customized packaging to boost export

In order to boost global exports of famed handicrafts and handloom products from the Indian union territory of Jammu and Kashmir (J&K), the Indian Institute of Packaging (IIP), Mumbai, in collaboration with Handicrafts and Handloom Department, Kashmir, conducted a workshop with craft entrepreneurs on customized packaging.The workshop laid emphasis on standard packaging of various Kashmir-based craft products like Pashmina and Kani Shawls, Papier Mache, Walnut Wood Carving, Carpets, Sozni, Crewel and Chain-Stitch embroidery for stimulation of customer interest in the national and international markets.Director, Ministry of Commerce, Praveen Kumar; Director, IIP Mumbai, Tanweer Alam; Director, Industries, Kashmir, Mahmood Ahmad Shah; Director, Handicrafts & Handloom, Kashmir, Mussara...
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US Prez signs bill that could remove Chinese stocks from US markets
20Dec By Mike TrudellNo Comments
China, Market, World

US Prez signs bill that could remove Chinese stocks from US markets

United States President Donald Trump has signed a legislation with a potential to kick Chinese companies off of U.S. exchanges unless American regulators can review their financial audits.The measure, which could affect corporate giants like Alibaba Group Holding Ltd. and Baidu Inc., is yet another parting shot at China before Trump leaves office in January.The de-listing law won bipartisan support in the House early this month after clearing the U.S. Senate in May. While it applies to any foreign company, the bill’s sponsors have said their goal was to target China.For years, Chinese firms have used American capital markets and dollar-based finance as a key funding component to grow their businesses. While the measure includes a phase-in period, with penalties kicking in after three strai...
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Op-ed: Retirees need to make these financial moves before Dec. 31
19Dec By Team FPNo Comments
Market, World

Op-ed: Retirees need to make these financial moves before Dec. 31

Back in March, a couple who had recently sold their business called me to express concerns about their decision to sell and retire. With Covid-19 raging, the stock market quickly dropped in value and their retirement savings were in decline. They asked a straightforward question: Did they need to worry or worse, consider going back to work? To address their concerns, we conducted a financial "stress test." It's a simulation of scenarios to evaluate if their financial plan and investments could withstand the chaos in the stock market. Even though their investments had declined more than 10%, the test assured them their portfolio was well positioned to withstand further volatility. With this information in hand, the couple quickly dropped any thought of returning to work. While the impact...
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UAE-India Food Security Summit: Lulu group inks MoU with Fruit Master Agro Fresh J&K
18Dec By Joe RodriguezNo Comments
Asia, Market

UAE-India Food Security Summit: Lulu group inks MoU with Fruit Master Agro Fresh J&K

In a significant development, Jammu and Kashmir’s Fruit Master Agro Fresh and Dubai based Lulu group signed an MoU during the UAE-India Food Security Summit for supply of apple and other fruits for super markets of Lulu group across the Gulf Countries.During B2B sessions in the Summit, a meeting between a delegation from Jammu and Kashmir led by Navin Choudhary, Principal Secretary Agriculture and Horticulture, and top management of Lulu group led by its Chairman and Managing Director, Yousuf Ali, several decisions were taken to promote export of agriculture and horticulture products from the Indian union territory of Jammu and Kashmir to entire gulf region using stores of Lulu group.Group of leading entrepreneurs from Jammu and Kashmir made representation to potential UAE importers where ...
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Singapore revises growth outlook again as Q3 GDP shrinks at slower 5.8% amid COVID-19
18Dec By Team FPNo Comments
Asia, China, Market, Singapore, World

Singapore revises growth outlook again as Q3 GDP shrinks at slower 5.8% amid COVID-19

SINGAPORE: The Singapore economy is expected to shrink between 6 per cent and 6.5 per cent this year, said the Ministry of Trade and Industry (MTI) on Monday (Nov 23) in another revision to its 2020 outlook after growth data confirmed a smaller-than-expected contraction in the third quarter. Its previous estimate, announced in August, was for the economy to contract between 5 per cent and 7 per cent amid the blow from the COVID-19 pandemic. Policymakers also offered for the first time a glimpse of their economic forecast for 2021 – a recovery into positive growth territory, with the economy envisaged to expand between 4 per cent and 6 per cent next year partly on the back of a low base. For the third quarter, Singapore’s gross domestic product (GDP) contracted by 5.8 per cent on a y...
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Don’t chase India’s market rally — the good news is ‘already priced in,’ HSBC says
18Dec By Team FPNo Comments
Asia, Market, Singapore, World

Don’t chase India’s market rally — the good news is ‘already priced in,’ HSBC says

A pedestrian speaks on a mobile phone as he looks at share prices on a digital broadcast outside the Bombay Stock Exchange (BSE) in Mumbai on November 10, 2020. SINGAPORE — India's markets may have rallied to historic levels, but investors may want to stay away from chasing the rally for now, says HSBC Private Banking, which is currently underweight on India. "Our view at this stage is that a lot of the good news is already priced in to the Indian market as of now," James Cheo, chief market strategist for Southeast Asia at the firm, told CNBC's "Street Signs Asia" on Monday. As of Friday's close, both the Nifty 50 and S&P BSE Sensex sat close to all-time highs that were touched on Nov. 25, according to Refinitiv Eikon. India's markets were closed on Monday for a holiday. The recent ral...
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