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At a time when China's economy is facing headwinds, and growth has been slowing, where are the Chinese ultra-rich, whose numbers are expected to swell to 144,897 by 2028 from 98,551 in 2023, parking their wealth? However, the country's high-end property market remains a favored asset. Luxury real estate"There has been a noticeable increase in transactions within Shanghai's luxury real estate sector," said James Macdonald, head of China research at global real estate firm Savills, attributing it to a recent policy easing by the government. That said, China's luxury real estate market is still primarily concentrated in the core areas of first-tier cities, said Li. Other local investment classes, such as the wider property market and China-listed stocks are not as popular among the ultra rich, experts told CNBC.
Persons: Weiquan Lin, Frank, James Macdonald, Savills, Stephen Pau, Sam Xie, CBRE's, Xie, Arbour, Tian Di, Knight Frank Head of, Pacific Research Christine Li, Li, Nick Xiao, Xiao, Yongyuan Dai, Pau, defensiveness Organizations: CNBC, Pacific Research, Overseas, Domestic Institutional Investors, Domestic Limited, Hywin Locations: China, Shanghai, Lujiazui, Knight Frank Head of Asia, Pacific, Hong Kong, Yongyuan, Pau
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKnight Frank outlines factors behind slowing demand in Singapore's high-end property segmentChristine Li, head of research for Asia-Pacific at Knight Frank, says "high net worth individuals are a little bit concerned" in light of a money laundering case, among other things.
Persons: Frank, Christine Li, Knight Frank Locations: Asia
What WeWork bankruptcy means for commercial landlords
  + stars: | 2023-11-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat WeWork bankruptcy means for commercial landlordsWeWork filed for Chapter 11 bankruptcy protection. Christine Li of Knight Frank discusses the implications.
Persons: WeWork, Christine Li, Knight Frank
Bloomberg | Bloomberg | Getty ImagesForeign investments into Japan's real estate sector have been flourishing in the past year, buoyed by a weak Japanese yen as the country's central bank maintains its ultra-loose monetary policy. "It is a golden period of Japanese real estate," Henry Chin, head of Asia-Pacific research at CBRE, told CNBC. Foreign investors almost doubled their investment from a year ago to $2 billion in the first quarter of the year, the global real estate services company noted. According to latest data provided by CBRE, total foreign investments into Japan's real estate market has risen 45% in the first half of 2023, compared to the same period last year. The solid rebound in Japan's tourism sector following the ease in border restrictions has sparked a rise in hotel occupancies and hospitality investments, Knight Frank said in a recent September note.
Persons: Henry Chin, Chin, Koji Nato, JLL, Knight Frank, CBRE's Chin, Knight Frank's, Christine Li, David Madison Organizations: Bloomberg, Getty, CNBC, Nato LL's, Capital Markets, U.S, APAC Locations: Tokyo, Japan, Asia, Pacific, Osaka, Singapore, U.S, Canada, Magome
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese property sales for private developers have been 'quite dismal,' Knight Frank saysChristine Li, Knight Frank's Asia-Pacific head of research, says Country Garden "won't be the last" in the real estate sector to face default risks.
Persons: Knight Frank, Christine Li, Knight Frank's Locations: Knight Frank's Asia, Pacific
Opioids may not work for back pain, study finds
  + stars: | 2023-06-28 | by ( Kristen Rogers | ) edition.cnn.com   time to read: +7 min
The authors found that in terms of effects on back and neck pain, opioids weren’t any more helpful than the placebo. More people in the opioid group had ongoing pain at weeks 26 and 52 than in the placebo group. The opioid group had worse mental health scores and more reports of nausea, dizziness and constipation than the placebo group. Opioids and painThe study authors and experts who weren’t involved in the new study have theories on why opioids weren’t found to be more helpful than the placebo. “The good news is most people with acute low back pain and neck pain recover within 6 weeks naturally.”The authors studied nonspecific back or neck pain, which is pain with an unknown cause.
Persons: haven’t, , Christine Lin, Lin, Naloxone, ” Lin, weren’t, Mark D, Sullivan, Jane C, Ballantyne, ” Sullivan, ” Dr, John Finkenberg, wasn’t, don’t, Finkenberg, ” Finkenberg Organizations: CNN, American Spine Society, University of Sydney, University of Washington Locations: Australia, Sydney, San Diego
If rents continue to grow steadily, more residents will bite the bullet and purchase a property before paying higher prices for rent, Knight Frank's Christine Li said. Whether one's renting a room, an apartment or a house, long-time expatriates living in Singapore are digging deep into their pockets and making drastic changes to cope with rising rents. Some foreigners living here say their landlords may be taking advantage of an overheated property market to jack up prices — with some doubling the rent. "If rents continue to grow steadily, more people will just bite the bullet and purchase a property before paying higher prices for rent," she said. Justin Paget | Stone | Getty ImagesFrancesca said many potential landlords offered her "rent free deals" to convince her to agree to higher prices — that essentially translates to no rent for the first few months.
Adobe cloud business insightsDespite the drag of technical debt that the data suggests, some industry executives say it gets a bad reputation. In this sense, technical debt is a signal of iteration. Adobe head of strategic development for creative cloud partnerships Chris Duffey is looking to reshape technical debt. "I would offer to reframe technical debt as the value of insight gathering throughout the innovation creation process," Duffey said. Despite reduction of operational costs, legacy systems in the technical debt bucket are core operational functions that an organization can't just turn off.
Yet some business-technology professionals are uneasy about integrating it into the enterprise stack, citing concerns over its use of online data and security risks. But at the moment, ChatGPT “should be used with caution in an enterprise business setting,” she said. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. For now, Mr. Schmidt said, generative AI capabilities should be reserved for writing corporate boilerplate—product or service announcements, or other promotional materials. For enterprise information-technology, “ChatGPT use cases might be a smaller universe than people are imagining,” he said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStress in China's property market is unlikely to come down anytime soon, Knight Frank saysChristine Li of the real estate consultancy says that's largely because of the country's zero-Covid policy.
The rising cost of borrowing is unlikely to have a major impact on Singapore's property market, analysts told CNBC. Ore Huiying | Bloomberg | Getty ImagesSINGAPORE — The rising cost of borrowing is unlikely to have a major impact on Singapore's property market, analysts told CNBC. Singapore's real estate market is backed by wealth, according to Christine Li, head of Asia-Pacific research at Knight Frank. Demand driversHowever, it doesn't mean the residential property market ignores rising rates and looming risks, said Alan Cheong, executive director of research and consultancy at Savills. "However, past trends indicate that our property market is highly resilient and usually rebounds within six months of a cooling measure," she said.
Federal prosecutors have described the case as a tale of international fraud and betrayal. Peter Coker Jr., 53, the son of Coker Sr., is based in Hong Kong and is considered at large. Federal authorities sought to jail Coker Sr. before agreeing to a conditional release. The men are charged with conspiracy to commit securities fraud, securities fraud and conspiracy to manipulate securities prices. The peculiarities surrounding Your Hometown Deli first caught the eye of hedge-fund manager David Einhorn in 2021.
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