October 21, 2021

China counts on tax cuts to buoy business in tough economic times ahead

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By Jane Cai From South China Morning Post As growth slows and the trade war bites, Beijing aims to reduce levies on key sectors such as manufacturing to keep people employed and ensure social stability Chinese Premier Li Keqiang delivered a sombre outlook for the year ahead but offered hope in the form of cuts […]

Not-so-homegrown home sales

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By Alison Rich From The MReport There’s international appeal in U.S. real estate, and, according to recent IRS data, certain countries seem especially smitten with it, ZillowResearch reports. Back in 2015, non-resident foreigners sold $10.5 billion of U.S. real estate, trouncing the amount sold in 2014 ($8.4 billion) and also in 2013 ($7.5 billion), Zillow […]

Portuguese state bank closes offshore branch in Macau [and Cayman Islands]

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From MacauHub| Portugal The offshore branch of Portuguese state-owned bank Caixa Geral de Depósitos (CGD) in Macau will be closed by the end of the year, the bank’s chief executive announced last Friday. Paulo Macedo said that besides the Macau offshore branch the bank will also close its branch in the Cayman Islands, as well […]

Prosecutor: Chinese billionaire bribed 2 UN ambassadors to build legacy

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 From Business Insider NEW YORK (AP) — A prosecutor says a Chinese billionaire bribed two United Nations ambassadors so he could make a UN conference center in China the “Geneva of Asia.” Assistant US Attorney Janis Echenberg told a jury during a trial’s closing arguments Tuesday that 69-year-old Ng Lap Seng wanted to build a […]

Bartech expands presence in Asia, Latin America and Caribbean

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From HT Bartech, a provider of profit-generating automatic minibar solutions for the hospitality industry, said it has significantly expanded its presence in some of the world’s fasting growing travel markets, with recent installations at properties in seven key regions. Over the past year, new hotel properties in such far-flung international hot spots as Macau, the […]

How China rescued — then ruined — the Caribbean’s largest resort project

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By Muhammad Cohen From Forbes As an American living overseas, I often hear gripes about U.S. influence in the world. Over the years I’ve learned that the best response is to acknowledge that U.S. stewardship of the post-World War II global order has been far from perfect. But if you don’t like it, just wait […]