39 h. ago HSBC reviews Singapore insurance unit amid focus on high growth in Hong Kong, mainland

HSBC Holdings’ exploration of options for its insurance business in Singapore may lead to a sale of the unit as the group reallocates resources to its insurance business in Hong Kong and mainland China, according to analysts. “It makes sense for HSBC to consider an exit from Singapore’s insurance market to focus on Hong Kong and mainland China, as so many mainlanders are coming to Hong Kong to buy insurance products here,” said Kenny Tang Sing-hing, chairman of the Hong Kong Institute of...

Politics

39 h. ago HSBC reviews Singapore insurance unit amid high growth focus on Hong Kong, mainland China

HSBC Holdings’ exploration of options for its insurance business in Singapore may lead to a sale of the unit as the group reallocates resources to its insurance business in Hong Kong and mainland China, according to analysts. “It makes sense for HSBC to consider an exit from Singapore’s insurance market to focus on Hong Kong and mainland China, as so many mainlanders are coming to Hong Kong to buy insurance products here,” said Kenny Tang Sing-hing, chairman of the Hong Kong Institute of...

Politics

4 d. ago Singapore urged to expand Johor SEZ to Indonesia to deepen Asean integration

A special economic zone between Singapore and the Malaysian state of Johor (JS-SEZ) should include Indonesia’s Riau Islands to ramp up the region’s allure to global investors, an apex business chamber and leading accounting firm have said, ahead of the city state’s budget address next month. As part of its 18 top recommendations, the Singapore Business Federation (SBF), which has more than 32,000 members, and PwC Singapore on Monday said expanding the zone to include the Indonesian islands of...

Politics

6 d. ago Singapore businesses list rising costs and tariffs as their biggest challenges

For businesses in Singapore, such as skincare chain Kskin, the global trade environment has become more challenging in recent years as a result of hurdles ranging from rising costs and US tariffs to fast-changing regulations. Kskin began venturing overseas in 2023 and has opened outlets in Malaysia, the Philippines and the US. Due to the tariffs, the costs of Kskin’s equipment and products have risen in recent months. Brian Ng, the firm’s director, told This Week in Asia: “Our margins [at...

Economics

7 d. ago As new rallies rock Iran, son of ousted shah urges protesters to seize city centres

Major Iranian cities were gripped overnight by new mass rallies denouncing the Islamic republic, as the son of the ousted shah urged protesters on Saturday to plan to seize city centres. The two weeks of protests have posed one of the biggest challenges to the theocratic authorities who have ruled Iran since the 1979 Islamic revolution, although supreme leader Ayatollah Ali Khamenei has expressed defiance and blamed the United States. Following the movement’s largest protests yet on Thursday,...

Events

7 d. ago Crackdown fears grow as Iran rocked by new rallies: ‘most blatant tools of repression’

Major Iranian cities were gripped overnight by new mass rallies denouncing the Islamic republic, as activists on Saturday expressed fear authorities were intensifying their suppression of the demonstrations under cover of an internet blackout. The two weeks of protests have posed one of the biggest challenges to the theocratic authorities who have ruled Iran since the 1979 Islamic revolution, although supreme leader Ayatollah Ali Khamenei has expressed defiance and blamed the United...

Politics

1 week ago Xiaomi, Tesla’s biggest challenger in China, unveils refreshed sedan with higher prices

Xiaomi, one of Tesla’s biggest challengers in mainland China over the past year, has unveiled a refreshed version of its fully electric sedan capable of travelling more than 900km on a single charge, as it seeks to stay ahead of intensifying competition. Lei Jun, founder and CEO of the smartphone maker and electric vehicle (EV) start-up, said on Wednesday that the updated SU7 – priced higher than existing variants – would demonstrate superior performance to sustain strong sales growth. “Given...

Politics

1 week ago Singapore, Beijing land in top 10 of Savills’ inaugural Matcha Index of global tech cities

Singapore and Beijing have emerged among the world’s most liveable cities for tech workers, according to Savills’ inaugural Matcha Index, which ranks locations by buzz and by the spaces where these employees can work, connect and spark ideas over a hot – or cold – matcha drink. The index, released on Tuesday, pointed out how cafe culture has become a vital part of the social infrastructure that supports the tech ecosystem, and that matcha lattes have taken over as the “go-to” drink for young...

Science

2 w. ago China’s imported beef tariff to protect local cattle industry could cost Australia $1b

China’s imported beef tariff to protect local cattle industry could cost Australia $1b  Beef Central

Economics

3 w. ago Philippines’ struggle for Chinese tourists, flood aid remarks spark ire: 7 Asia highlights

We have selected seven stories from the SCMP’s coverage of Asia over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. Mexico’s 50% tariff shock shuts Asia’s North American trade bypass For much of the past year, Asian exporters have been racing to stay ahead of a global tariff storm – re-routing shipments, reconfiguring supply chains and absorbing rising costs as the United States...

Events

3 w. ago Hong Kong and Singapore landlords embrace flex offices as multinationals reshape demand

Landlords in Hong Kong and Singapore are expected to continue allocating space to flexible office operators as multinational corporations reshape the sector’s risk profile and fuel long-term demand, according to industry experts. A major driver behind this shift is the rapid change in who uses flexible workspaces. Global companies now represented 41 per cent of Asia-Pacific flex office users, the highest proportion worldwide and nearly triple North America’s 14 per cent, according to Piers...

Politics

4 w. ago Mexico’s 50% tariff shock shuts Asia’s North American trade bypass

For much of the past year, Asian exporters have been racing to stay ahead of a global tariff storm – re-routing shipments, reconfiguring supply chains and absorbing rising costs as the United States tightened its trade barriers. Now another pressure point is emerging. From the start of next year, Mexico plans to impose import duties of up to 50 per cent on a wide range of goods from Asia, threatening to choke off a key workaround companies have relied on to maintain access to the North American...

Events