Japan sales tax hike: 70% of households to cut spending
(2 Apr) - Nearly 70 percent of Japanese households plan to cut back on spending after the sales tax increase that was implemented on Tuesday, a central bank survey showed, underscoring concern that the economy may start to lose support from private consumption. Many policymakers already expect household spending to cool following...
Maoming protests spread to Guangzhou
(2 Apr) - Protests against paraxylene (PX) project in Maoming, Guangdong Province continued into a third day Tuesday despite local government pledges to conduct a public consultation before giving the project a green light. The protests also spread to Guangzhou, the provincial capital of Guangdong, claimed local demonstrators,...
OCBC offers US$5 billion for HK’s Wing Hang Bank
(1 Apr) - Oversea-Chinese Banking Corp. offered HK$38.4 billion ($5 billion) to buy Wing Hang Bank Ltd. (302) in the biggest takeover of a Hong Kong lender since 2001 to gain a foothold in the expanding Chinese financial hub. Southeast Asia’s second-largest lender will pay HK$125 a share in cash, it said in a statement today....
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- Von Eden Petrova on Strong hailstorm strikes China’s Xi’an causing airport roof leaks, hundreds of cars destroyed
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