IMF downgrades Philippine growth forecasts anew amid economic challenges

At least a dozen Chinese banks intend to wind down retail leveraged precious-metals trading – a practice in which everyday investors post margin deposits to speculate on gold and silver contracts without owning the physical metal. The retreat comes amid sharp swings in international gold prices. Sources at two banks, including the Industrial and Commercial Bank of China – the world’s largest lender by assets – said that this round of withdrawals was mandated by the Shanghai Gold Exchange,...

Hong Kong and Singapore are advancing tokenised deposits into live commercial use, with major banks including HSBC and Standard Chartered already serving institutional clients on blockchain-based treasury platforms.

Motorists should expect a sigh of relief in the coming week as pump prices are expected to roll back big-time.

Hong Kong has significantly narrowed Dubai’s lead as the world’s top market for “super-prime” residential property in recent months, as rising conflict weighs on activity in the Middle East market, according to Knight Frank. Dubai retained first place for deals involving homes sold for US$10 million or more in the second quarter of the year, with 131 sales worth a combined US$2.17 billion, but the total value of those transactions fell 27 per cent compared with the previous quarter. Hong Kong,...

China’s electric vehicle (EV) makers and battery manufacturers are locked in negotiations over which party should pay a resumed consumption tax, according to industry sources, a conflict that underlines carmakers’ struggles amid weak home market demand. Beijing is ending an 11-year exemption on a 4 per cent consumption tax on lithium-ion batteries and related products. It returned to 2 per cent on September 1 and will be fully restored one year later. The country’s battery makers planned to pass...

The World Bank report Thailand Cities of the Future highlights that unleashing urban productivity is essential for Thailand to achieve high-income status by 2037.

US premium coffee brand Blue Bottle Coffee will open its first Beijing store in the capital’s central business district, as it seeks to tap into China’s still growing market for the drink. The California-based brand is taking a spacious unit at China World Mall. The location, currently enclosed by construction hoarding, was previously occupied by Japanese jeweller Tasaki. The brand has yet to reveal an official opening date, though industry sources said the shop was expected to open by the end...

Hong Kong’s ambitions as a leading Asian hub for family wealth, succession planning and cross-border capital allocation took centre stage at SCMP’s “Redefining Hong Kong: Next Generation Wealth 2026” conference held on September 21 at the JW Marriott Hotel Hong Kong.  Regulators, family principals, advisers and next-generation leaders gathered to examine how inherited capital can be transformed into enduring enterprise. Held at a time when Asia is preparing for one of the largest...

Senator Francis "Kiko" Pangilinan challenged the DOJ and the NBI to detain those whom he called "untouchable smugglers" disrupting the country's food security.

Malaysia's Borneo New Energy Company is eyeing coconut shells from Davao as an alternative energy resource, the Department of Agriculture (DA) Region 11 said.

Efforts to detect multiple cancers through a single blood draw are gathering momentum after US regulators endorsed the technology for the first time, although experts say wider adoption in Hong Kong still faces challenges as doctors remain cautious about its clinical value. In a landmark decision for the emerging field of multi-cancer early detection (MCED) blood tests, a US Food and Drug Administration (FDA) panel on Thursday voted in favour of US company Grail’s “Galleri test”, recommending it...

The Department of Agriculture (DA) on Thursday said it will adopt a “scientific” strategy to mitigate the impact of a potentially record-breaking El Niño expected in the coming months.