BEIJING: Nearly a quarter of German companies operating in China are planning to relocate all or part of their business out of the country, according to a study released on Tuesday with many blaming rising costs.
The German Chamber of Commerce’s annual survey of 526 member firms in China found that 23 per cent have either already decided to withdraw production capacity in the country or are considering it.
One-third of those companies have planned to leave China entirely.
The rest will transfer part"...

SHANGHAI: Chinese shoppers snapped up food supplements, facial masks and baby milk powder at the world’s largest shopping festival, with brands such as L’Oreal and Nestle among the biggest winners, Alibaba data showed.
The Chinese e-commerce giant’s annual Singles’ Day shopping blitz on Monday brought in a record 268.4 billion yuan ($38.38 billion) in sales, more than six times the amount of online sales made in the United States on Black Friday last year.
It kicked off this year’s"...

NEW YORK: United States President Donald Trump is scheduled to discuss the country’s trade policy at the Economic Club of New York, and the markets are likely to hang on every word.
Trump’s lunchtime address at the club, which has hosted US presidents including Woodrow Wilson and John F Kennedy, as well as foreign leaders like former Soviet president Mikhail Gorbachev and Chinese premier Li Keqiang, will be closely watched by investors anxious for any positive news about his administration’s long-running"...

SeaLead Shipping, a leading multi-national, privately-owned shipping company, which is specialised in Red Sea, Gulf, India Sub-Continent, and South East Asia connections, has announced a digital transformation partnership at SAP Select in Berlin, Germany.

SeaLead will deploy SAP S/4HANA and SAP Transportation Management solutions for driving more efficient trade across 18 countries in the Middle East and Asia, said a statement.

On the implementation of these solutions, SeaLead will be able to enhance"...

The owners of the Nusr-Et steakhouse, known by its founder chef’s meme Salt Bae, are considering selling a stake in the business, according to people with knowledge of the plans.

Turkish billionaire Ferit Sahenk, and co-founders Nusret Gokce and Mithat Erdem, may sell a combined stake or an individual holding to one or a group of investors, the people said. There has been strong interest from international investors and a financial adviser"...

The global economy is going through an investment drought mainly brought about by trade uncertainty causing a steep decline in growth, the Secretary General of the Organisation for Economic Co-operation and Development has said.

The organisation in Paris is due to release its bi-yearly global economic forecast next week.

At the Paris Peace Forum on Tuesday, Angel Gurria"...

DUBAI — Arzan Wealth (DIFC) Limited, a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, has successfully advised its clients on the sale of a fourth property from the Single Tenant Portfolio in USA.

The Single Tenant Portfolio was acquired in June 2017, consisting of 6 single-tenant net-leased buildings with a total of 760,533 sq ft, located in 6 states in the US, and sectorally diversified with healthcare, industrial, and office assets, and with tenants that enjoy strong credit"...

HONG KONG — Over 80% of global investors plan to increase either significantly or moderately their organization’s allocation to Chinese investments over the next 12 months, according to an Economist Intelligence Unit survey on global investors’ China exposure, commissioned by Invesco. Only 4% plan to reduce exposure to China.

The China Position, a survey of 411 asset owners and professional investors across North America, Asia Pacific (APAC) and Europe, Middle East & Africa (EMEA), collected"...

LONDON: Prosus held firm on its $6.3 billion offer to buy Just Eat on Monday as it argued the merits of its bid versus one from Takeaway.com for the British online takeaway delivery firm. The one change in the offer published on Monday by the Dutch arm of South African Internet giant Naspers was an acceptance threshold lowered to 75 per cent from 90 per cent. “We actually believe that financial markets are under-estimating the cost of implementing the transformation Just Eat requires to protect its market position and"...