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SHANGHAI’S merchandise sales are set to grow 8 percent this year, with retail sales to rise 8 percent and e-commerce to jump 20 percent, the Shanghai Commission of Commerce said yesterday. The city set the same 8 percent year-on-year target for merchandise sales and retail sales this year. E-commerce is set to soar 20 percent, with online transactions exceeding 1 trillion yuan (US$ 160 billion) this year. The import and export of ...
CHINA’S manufacturing sector rose modestly in February to a nine-month high, bolstered by firmer client demand and increasing prices, according to a private survey released by Caixin yesterday. The Caixin China General Manufacturing Purchasing Managers’ Index, an indicator of manufacturing activity, climbed to 51.6 in February from 51.5 in January, notching a peak since August last year, the survey conducted by financial information service ...
A ferry sails past Pasir Panjang container terminal port in Singapore yesterday. Singapore’s economy is set to have grown less than initially expected in the fourth quarter as factory activity and exports slowed, suggesting the recent easing in booming sales of electronics could hit growth this year. A Reuters poll yesterday predicted quarterly growth at 2 percent in the October-December period on a seasonally adjusted and annual basis, ...
CHINA plans to stamp out all remaining cryptocurrency trading in the country by blocking access to overseas-based websites and removing related applications from app stores. The moves were outlined in a report on Sunday by Financial News, a publication under the People’s Bank of China, which said the aim was to snuff out the “dying cinders” of cryptocurrency trading and initial coin offerings “which are glowing once more.” ...
FACEBOOK Inc offered reassurances to investors on Wednesday that its digital ad business would remain highly profitable, despite a dip in usage on the social media network and an overhaul of its flagship News Feed. The company said in an earnings report that quarterly revenue jumped 47 percent from a year earlier, and executives said on a conference call that they saw more chances to make money even if people spend less time on Facebook. ...
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