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The approval of the first four official London Metal Exchange (LME) warehouses in Hong Kong gives a long-awaited boost to the city’s ambition of playing a more integral role in global metals trading.Many industry leaders, including Tiger Shi, CEO of Bands Financial, and Clara Chan, CEO of Hong Kong-listed Lee Kee Group, believe the development marks a pivotal step in strengthening the city’s position as a strategic commodities hub in Asia.The establishment of the LME warehouses in the city will also help align commodity prices in mainland China with the international market, they said.The warehouses mark “a major step forward…
The approval of the first four official London Metal Exchange (LME) warehouses in Hong Kong gives a long-awaited boost to the city’s ambition of playing a more integral role in global metals trading.Many industry leaders, including Tiger Shi, CEO of Bands Financial, and Clara Chan, CEO of Hong Kong-listed Lee Kee Group, believe the development marks a pivotal step in strengthening the city’s position as a strategic commodities hub in Asia.The establishment of the LME warehouses in the city will also help align commodity prices in mainland China with the international market, they said.The warehouses mark “a major step forward…
THE HAGUE, Netherlands (AP) — The United Nations’ highest court opens hearings Monday into Israel’s obligation to “ensure and facilitate” urgently needed humanitarian assistance to Palestinian civilians in the occupied territories, bringing the ongoing conflict in Gaza back into focus in The Hague.A week of hearings has been scheduled in response to a request last year from the U.N. General Assembly, which asked the International Court of Justice to weigh in on Israel’s legal responsibilities after the country blocked the U.N. agency for Palestinian refugees from operating on its territory.In a resolution sponsored by Norway, the General Assembly requested an…
VATICAN CITY (AP) — Exit tourists. Enter cardinals.The Vatican has closed the Sistine Chapel, where cardinals will gather for the conclave to elect the next pope after the death of Pope Francis on April 21 at age 88. Francis was buried Saturday after a funeral in St. Peter’s Square that gathered world leaders and hundreds of thousands of others, and a nine-day period of mourning is continuing before the conclave can start. But the church is at the same time turning its attention to the next steps.Key is preparing the Sistine Chapel for the red-robed cardinals who will gather at…
The most frightening experience of Yoko Tsukamoto’s nursing career began when a psychiatric patient grabbed her by the neck and attempted to strangle her. It ended only when her colleagues managed to pull the man away.Never in her 20 years as a nurse had Tsukamoto faced such acute physical danger. Yet the incident, she says, is just one in a litany of issues plaguing Japan’s hospitals. From verbal abuse and physical assaults to sexual harassment and mistreatment by patients’ families, violence and harassment against medical staff are far more common than many people realise.But now, the arrest of actress Ryoko…
British asset manager Schroders will continue to expand in Hong Kong to tap Asia-Pacific’s fast-growing wealth-management and pension businesses, as its top boss believes market uncertainty brought on by the US-China trade war will increase demand for its services.“The tariff issues and trade challenges are going forward, but it would not affect our commitment and investment in Hong Kong, mainland China and Taiwan,” Richard Oldfield, the firm’s group chief executive, said in Hong Kong earlier this month.“When we think about where wealth is growing the fastest, it is in Asia. When we think about ageing populations and the need across…
Scott Kennedy is a senior adviser and trustee chair in Chinese business and economics at the Washington-based Center for Strategic and International Studies think tank. He has visited China on numerous occasions over the past 37 years and written extensively on the country, particularly regarding its economic policy and relations with the United States.This interview first appeared in SCMP Plus. For other interviews in the Open Questions series, click here.On April 2, US President Donald Trump ramped up the trade war by announcing a “Liberation Day” package of tariffs. Their scale and magnitude shocked the world, as they were levied…
LAHORE: The 2nd Electric Vehicles (EV) conference held in Lahore on Saturday brought together industry leaders, policymakers, financiers, and climate advocates to accelerate discussions around Pakistan’s EV landscape, highlighting the sector’s promise and challenges. Organized by the Climate Action Centre (CAC) and PakEVO, and sponsored by Bank of Punjab, the conference marked an important step in aligning public and private efforts to foster EV adoption and localization in the country. Umer Khan, Head Investment Banking, FI & Corporate Banking Central at Bank of Punjab in his keynote expressed confidence about the prospects of EV and allied infrastructure in Pakistan. “Consistent…
LAHORE: The 2nd Electric Vehicles (EV) conference held in Lahore on Saturday brought together industry leaders, policymakers, financiers, and climate advocates to accelerate discussions around Pakistan’s EV landscape, highlighting the sector’s promise and challenges. Organized by the Climate Action Centre (CAC) and PakEVO, and sponsored by Bank of Punjab, the conference marked an important step in aligning public and private efforts to foster EV adoption and localization in the country. Umer Khan, Head Investment Banking, FI & Corporate Banking Central at Bank of Punjab in his keynote expressed confidence about the prospects of EV and allied infrastructure in Pakistan. “Consistent…
Donald Trump’s trade war with Beijing is starting to affect the wider US economy as container port operators and air freight managers report sharp declines in goods transported from China.Logistics groups said container bookings to the US have fallen sharply since the introduction of 145 per cent tariffs on Chinese imports to the US.The Port of Los Angeles, the main route of entry for goods from China, expects scheduled arrivals in the week starting May 4 to be a third lower than a year before, while airfreight handlers have also reported sharp falls in bookings.Bookings for standard 20-foot shipping containers…