Asia Pacific
Headlines
SANNE appoints new business development director in Tokyo
Makoto Nagao, has been appointed to the newly created role of Director, Business Development adding further strength to SANNE’s Asia-Pacific business. With more than 35 years of experience, Nagao-san brings a wealth of knowledge, following a lengthy career with Sumitomo Mitsui Financial Group, SMFG. While he was at SMFG, Nagao-san was General Manager...
Crayfish.io launches UK’s first funded initiative to get businesses China-ready
A ground-breaking initiative with a £500k investment fund dedicated to helping UK businesses get ‘China-ready’ has been launched in Cambridge by global online platform, Crayfish.io. Starting in September, the Crayfish China Accelerator programme - which has secured UK-China Enterprise Ltd (UKCE), a Chinese-capital-backed VC fund, as its...
SANNE opens new office in Mumbai, India
SANNE, a leading global provider of alternative asset and corporate services has further extended its global reach with the opening of a new office in Mumbai, India. With existing offices in 18 leading international finance centres, SANNE now has a local presence in one of the world’s fastest growing alternative markets and is also pleased to announce...
SANNE secures new bookkeeping licence in China
SANNE, a leading global provider of alternative asset and corporate administration services obtains new bookkeeping licence in China boosting its already strong proposition. The new licence expands SANNE’s existing product offering in China, adding bookkeeping, accounting and tax preparation services for Chinese registered entities. Jing Jing...
SANNE appoints Country Head to lead its Singapore business
Adding further expertise and knowledge to its APAC business As a leading global provider of alternative asset and corporate business services, SANNE is pleased to announce the appointment of David Fowler to the role of Country Head − Singapore with immediate effect. Based in SANNE’s Singapore office, David will be taking over the role from Valérie...
Finance
Japan is not rallying around its prime minister
SINCE JAPAN recorded its first case of covid-19 on January 16th, 784 people have died across the country of 126m, fewer deaths than in one day in New York City during the peak of the outbreak there. On May 14th the government lifted the state of emergency in 39 of Japan’s 47 prefectures, with more likely to be released this week. In terms of deaths...
India’s economy has suffered even more than most
EMERGING FROM two months under one of the world’s most stringent covid-19 lockdowns, India faces a double dilemma. The stay-at-home rules did indeed bend the virus’s growth curve. This means that, so far, fewer Indians are known to have died of the disease than Swedes, even though India has 134 times more people. Yet India’s lockdown failed to...
Malaysia’s shaky government dodges a no-confidence motion
IT WAS THE shortest session on record. Malaysia’s MPs convened on May 18th to hear a speech from the king (pictured). No sooner had he finished than they adjourned until July. The official reason for the brevity was to avoid spreading covid-19. But the brisk timetable also thwarted plans to hold a vote of no confidence in the prime minister, Muhyiddin...
Why the Philippines is a magnet for idled cruise ships
IN HEALTHIER TIMES the sight of a fleet of cruise ships lying at anchor in Manila Bay, silhouetted against the sunset, would gladden the hearts of business people on shore, eager to relieve free-spending passengers of their money. But the 21 vessels dotting the seascape on May 21st were not so much floating hotels as prison hulks. The passengers are...
Afghanistan’s two rival presidents reach a deal
ASHRAF GHANI remains president of Afghanistan, while his eternal rival for the job, Abdullah Abdullah, who disputes the result of the election held last September, gets yet another consolation prize. That, it seems, is the upshot of a deal finally agreed on May 17th, after months of posturing and haggling, including an absurd moment in March when both...
Legal
After Fintech, Singapore eyes Legaltech status
Singapore, a haven for disruptive fintech firms, is aiming to shake up Asia's legal sector next The Lion City will host Southeast Asia's first legaltech accelerator from April. The city-state's initiative aims to groom legaltech startups as well as incubate new business models or services conceived by law firms. Singapore's law academy has launched...
China updates New Industry Catalogue
PRC reduces regulatory procedures for foreign investments following its 2016 reforms. China creates a nationally applicable “negative list” for foreign investment, which opens up more industries for multi-national companies.Foreign Investments Filing Administrative Rules will be updated and published soon by the Ministry of Commerce to clarify...
Proposals to make free movement of data a principle of EU law expected this autumn
Ansip said proposed new EU legislation to tackle unnecessary restrictions on where data can be stored are likely to be published this autumn.The proposals will also look to make it easier for businesses to move their data between rival cloud providers and ensure that public sector bodies can access data held by authorities in another EU country to help...
New advertising standards in the UK to take tougher stance on gender stereotypes
The new standards will be drawn up by the Committee of Advertising Practice (CAP), according to a new report on gender stereotypes in advertising (64-page / 5.4MB PDF) published by the Advertising Standards Authority (ASA), the watchdog that oversees compliance with UK advertising rules.The CAP will also look to "clarify standards that reflect the ASA‘s...
UK government urged to avoid data transfers 'cliff edge' at point of Brexit
In a new report, a House of Lords committee warned that trade and security could be impacted if the flow of data is disrupted at the point of Brexit.To enable data to flow between the UK and EU post-Brexit, the EU Home Affairs Sub-Committee urged the UK government to seek a so-called 'adequacy' decision from the European Commission, which would recognise...
Deals
Lyreco Group announces the acquisition of DeskRight
Lyreco Group today announced the acquisition of DeskRight, a leading office supplies business on the Singapore market. The move puts Lyreco, European leader and number three worldwide in the distribution of workplace supplies solutions to businesses, in a leadership position on the Singapore market and represents the first step in its new development...
HSA Advocates advised a consortium of four ports in relation to strategic sale of Dredging Corporation of India by Government of India
HSA Advocates represented a consortium of four ports Vishakapatnam Port Trust, Paradeep Port Trust, Jawaharlal Nehru Port Trust and Deendayal Port Trust in relation to strategic sale of Dredging Corporation of India concluded by Government of India (GoI). The four ports have acquired 100% of GoI's shares in Dredging Corporation of India (i.e. 73.47%...
Duff & Phelps enhances restructuring and dispute offering with acquisition of Zolfo Cooper Asia
Expands Footprint in Greater China Region Duff & Phelps, the global advisor that protects, restores and maximizes value for clients, today announced the acquisition of Zolfo Cooper Asia, a leading independent provider of restructuring, insolvency, litigation support and forensic accounting services. The combination of Duff & Phelps and Zolfo...
Investcorp launches in India with acquisition of IDFC Alternative’s Private Equity and Realty Businesses
Entry in to India expands footprint of direct investments into Asia Investcorp a leading global provider and manager of alternative investment products, today announced the launch of its operations in India with the imminent completion of its first deal, the acquisition of the Private Equity and Real Estate investment management businesses of IDFC...
China, Japan overseas M&A push to extend in 2019
China’s economic growth slowdown to drive dealmaking abroadJapanese companies may continue to seek large foreign dealsCompanies in China and Japan will continue their pursuit of overseas acquisitions this year amid the economic growth slowdown and geopolitical uncertainty, according to JPMorgan Chase & Co. Ready availability of capital will...
Acq Lite
Look: Cheyenne Jackson shares photo of head scar from hair-replacement surgery
May 24 (UPI) -- Actor Cheyenne Jackson posted on Instagram this weekend a photo of his head scar from several hair-replacement surgeries. "I've been DREADING this day for 17 years. The day when my horrible secret would be revealed. No, this gnarly scar across my head isn't from life-saving brain surgery, nor did I narrowly survive a shark attack. It's...
First two episodes of 'Kirby Jenner' now on Quibi
May 24 (UPI) -- Quibi released a trailer Sunday for its eight-episode series, Kirby Jenner, which follows the adventures of the fictional, fraternal twin brother of model Kendall Jenner. Kendall Jenner and her mom, Kris, executive produced the comedy for the short-form streaming platform. The first two episodes are now online. "Kirby is ready to step...
Jesse Tyler Ferguson to host 'We Are One Public' concert on June 1
May 24 (UPI) -- Modern Family alum and stage star Jesse Tyler Ferguson is to host an online show called We Are One Public on June 1. Tony-winning theater director Kenny Leon is helming the free event, which is intended to celebrate New York's Public Theater and solicit donations to support it. Confirmed to participate in the show are Antonio Banderas,...
Look: Cardi B shows off huge, floral back tattoo
May 24 (UPI) -- Rapper and actress Cardi B shared on Instagram this weekend a photo of a colorful new tattoo that goes from the base of her neck, down her back to her buttocks and thigh. The 27-year-old star is seen squatting in a green bikini, so the floral- and butterfly-themed body art may be viewed in full. Her hair is straight and different shades...
Amanda Bynes says she is 'back on track and doing well'
May 24 (UPI) -- Amanda Bynes announced on social media this weekend that she is still engaged to Paul Michael and studying at the Fashion Institute of Design and Merchandising in California. "Update: Getting my Bachelor's degree from FIDM," Bynes wrote in an Instagram post on Saturday. "Taking online classes, trying to get a 4.0 GPA," she added. "Looking...