Your Daily Scan of the New Global Economy

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China
Sa Sa pushes e-commerce strategy to shore up sales as mainland tourists dwindle and Sephora heats up rivalry Sa Sa International Holdings is tapping the expertise of e-commerce solutions provider Boutir to shore up online sales as the coronavirus pandemic and new competitors threaten its position as Hong Kong’s biggest cosmetics retailer. The firm is...
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Gold blasts past US$2,000 level as traders rush into gold-backed ETFs as hedge against global uncertainties Gold has surged past the US$2,000 per ounce level, setting yet another all-time record as the yellow metal continues to benefit from a slew of risk events, including the coronavirus pandemic, inflation fears and global economic uncertainties.The precious metal...
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Hong Kong, China stocks struggle as news report says Washington and Beijing will meet soon to discuss phase one trade deal Hong Kong and China stocks struggled in early trading, as investors weighed fresh data showing continued but slowing recovery in China’s service sector as well as news that US and China officials will meet...
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China’s services sector expanded at slower pace in July, weighed down by falling export orders and job losses China’s services sector activity continued to grow in July, but the pace slowed from a decade high the previous month as export orders remained weak and firms continued to shed workers, a private survey showed on Wednesday.The...
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Hong Kong’s pre-owned home sales dry up, forcing many owners to settle for losses as capital shifts to new abodes The prices of pre-owned homes in Hong Kong have came off their 10-month peak in June, as buyers shifted their attention to newly launched projects amid social-distancing measures during the city’s coronavirus relapse, forcing some...
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Dongfeng sales rise 6%, led by light trucks Chinese automaker Dongfeng Motor Corporation sold 96,239 vehicles in China in the first seven months, up 6 percent from the same period last year.In July, it sold 14,623 vehicles, 33 percent more than the same month a year earlier, largely on the back of increased light truck sales.And...
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Game firms hit pay dirt in foreign markets GAME developer FunPlus has chalked up many pluses in its 10 years of business. It has attracted 100 million players from more than 200 countries and regions, and topped international charts. In June, FunPlus occupied the No. 1 spot among all Chinese game publishers in terms of...
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Leading tire and mobility innovator Michelin all revved up for CIIE Leading tire and mobility company Michelin has geared up for its debut at this year’s CIIE, with confidence to support the recovery of economy and together create a sustainable future.In an interview with Shanghai Daily, Kamran Vossoughi, president and CEO of Michelin China, shares...
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Markets mixed amid volatile trading after gains Chinese markets closed mixed yesterday, with many sectors losing ground in volatile trading after gaining on Monday.The benchmark Shanghai Composite Index inched higher in the afternoon session to close up 0.11 percent at 3,371.69 points. The smaller Shenzhen Component Index dipped 0.75 percent to finish at 13,860.46, while...
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Trump says US should get a cut from TikTok sale US President Donald Trump said yesterday the US government should get a “substantial portion” of the sales price of the US operations of popular short-video app TikTok and warned he will ban the service in the United States on September 15 without a sale. “I...
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