Tag: Business

India surges ahead of China in business and technology skills: Report
27Jul By Mike TrudellNo Comments
World

India surges ahead of China in business and technology skills: Report

The world's largest online learning platform Coursera has said that India has surged ahead of China in business and technology skills due to its growing younger population and that India could soon be the global talent hub for emerging technologies.In its latest Global Skills Index 2020, Coursera said India ranks 34th within the business domain whereas China ranks 45th. Within the technology domain, India ranks 40th globally whereas China ranks 50th.Looking across the 65 million learners on the platform and drawing on performance data of learners in the past 12 months, the report benchmarks skills proficiency for 60 countries, 10 industries and 11 fields of study in business, technology and data science.“Within the data science domain, however, India ranks 51th globally (lagging) and 12th ...
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Chinese hotel builder abruptly liquidates business in UK
28Jun By Walter ParezNo Comments
China

Chinese hotel builder abruptly liquidates business in UK

A Chinese conglomerate which has built hotels for Hilton and Travelodge has abruptly liquidated its UK subsidiaries reportedly due to the COVID-19 pandemic.CIMC is a global business with regional offices in the UK, US and Australia and the main head office in Southern China. The main UK business, CIMC Modular Building Systems and its development arm first set up to promote the modular system have both been placed in voluntary liquidation by managing director Jason Taylor.“The impact of the pandemic has been so wide and so deep that it has become impossible to survive without taking some fairly drastic steps,” a source said.CIMC MBS lost pound 2.5 million in 2018. During that year it delivered nearly 900 modules creating 1,317 hotel or student rooms.CIMC has supplied ready-built rooms from ...
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Pakistan bars Afghan goods, but exports freely into Afghanistan
15Jun By Mike Trudell1 Comment
Market, Singapore

Pakistan bars Afghan goods, but exports freely into Afghanistan

Afghan traders and merchants on Thursday voiced their concerns about Pakistani products coming into Afghanistan flow as usual, but Afghan business people still not being able to export goods to the Pakistani ports.Merchants called on the Afghanistan government to take action and raise the issue of the barring of Afghan exports with the Pakistani government.“Our trucks have been stopped in Torkham for the past three months, we don’t know what to do, the products are on the verge of destruction,” said Hejratullah Hamdard, a merchant.“We don’t know when the government will take reciprocal action against Pakistan,” said Navid, a merchant.This comes as the harvest of vegetable and fresh fruits are at their peak in Afghanistan, and the Afghan traders are losing millions of dollars because of the...
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China’s foreigner ban leaves global businesses in limbo
14Jun By Mike TrudellNo Comments
Singapore

China’s foreigner ban leaves global businesses in limbo

Foreign nationals who live in China or planned to visit say they have been left in limbo as a result of the coronavirus outbreak, with many unsure of when they can return to work or get a refund for their trip.China imposed a travel ban on most foreigners entering the country in March as the outbreak gathered pace overseas.Even those with valid residence or work permits, or who run businesses, have been shut out, and there was further doubt about when the restrictions would be lifted after a new cluster of infections was detected in Beijing over the weekend.Jessie Lim, the founder of Frequency Advertising & Event, has been stranded in Singapore since travelling there in January."(The ban) really shocked me," she said, adding that her Chengdu-based firm earned nothing in the first three...
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Singapore start-ups can now apply to Fortitude Budget’s $285 million fund
7Jun By Mike TrudellNo Comments
Singapore

Singapore start-ups can now apply to Fortitude Budget’s $285 million fund

Promising start-ups in Singapore can now apply for special funding earmarked for them in the Fortitude Budget, to help them sustain innovation, gain access to credit, and bridge the financing gap they face amid the Covid-19 pandemic.The Special Situation Fund for Start-ups (SSFS) will be administered by EDBI, the corporate investment arm of Economic Development Board, and Seeds Capital, the investment arm of Enterprise Singapore, said both organizations in a joint statement on Friday.Under the scheme, EDBI and Seeds Capital will invest in selected start-ups with private sector co-investors in a one-to-one ratio.The SSFS will support early to late-stage innovative start-ups, though EDBI will focus on late-stage start-ups with larger funding needs and a wider employment base, while Seeds Cap...
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Hong Kong legislation: China’s rich skirting ‘the financial hub’ to seek asset safety elsewhere
29May By Joe RodriguezNo Comments
China, Singapore

Hong Kong legislation: China’s rich skirting ‘the financial hub’ to seek asset safety elsewhere

Wealthy Chinese are expected to park fewer funds in Hong Kong on worries that Beijing's proposed national security law for the city could allow mainland authorities to track and seize their wealth, bankers and different business sources.More than half of Hong Kong's estimated private wealth of over US$1 trillion is from mainland individuals who have parked money there, according to bankers.The city has benefited from its proximity to China and separate legal system, but there are now worries about it losing its edge as a global financial centre due to capital and talent flight.Interviews with half a dozen bankers and headhunters have revealed that some Chinese clients are looking for other hubs as their main offshore wealth base with Singapore, Switzerland and London high on the list.One C...
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