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But experts and think tanks have long said this is a policy change that an aging China desperately needs. It's currently running a lopsided policy of letting women retire up to 10 years earlier despite them living significantly longer on average than men. The pension problemKey to the retirement overhaul are China's pension funds. AdvertisementMost Chinese workers receive a state pension, which can be boosted by retirement funds from employers and personal contributions. Experts say that either way, Beijing will need more than a simple policy change to fix its crisis.
Persons: , Sabrina Luk, Shaun Rein, Luk, It's, Gu Qingyang, CASS, it's, Louis Vuitton, Gu, Rein Organizations: Service, Business, Nanyang Technological University, China Market Research Group, Academy of Social Sciences, National University of Singapore, Louis Locations: Beijing, France, China, Xiaohongshu, Weibo, Singapore, Shanghai, Asia, East Asia
How to buy your first luxury watch
  + stars: | 2024-05-03 | by ( Christy Choi | ) edition.cnn.com   time to read: +9 min
Learn the lingoJust like buying a car, there are some technical terms prospective watch buyers can benefit from knowing. Parts of the watchCrown: Small knob found on the side of the watch used to change the date and time. Automatic movement: A mechanical watch that does not need a battery to move, it relies on movement from the wearer to wind. Buy a watch for the right reasons and consider what you need from itDon’t get sucked into hype around a watch. See if the designer made any othersWhile on the lookout for a watch to wear to his wedding, Pang saw a six-figure Audemars Piguet watch.
Persons: you’ve, it’s, Patek Philippe, Cartier, Vacheron Constantin, Sotheby Asia’s, Joey Luk, Charles Frodsham, , , Johnathan Chan, you’re, Helbert Tsang, Tim Stracke, don’t, Luk, Carlos Pang, Pang, Gerald Genta, Chan, Organizations: CNN, Rolex, Horology, Facebook, IWC, Locations: haute, Hong Kong, Geneva
Hong Kong CNN —Thick roots tumble across a dilapidated house, the snake-like trunks of a banyan tree framing where the front door once stood. “These villages have existed in Hong Kong for hundreds of years, way before the colonial period,” explained Irvine. In the 1950s and ‘60s, as Hong Kong grew as an industrial hub, many people migrated to the rapidly expanding urban centers for better working opportunities. Stefan Irvine / Courtesy Blue Lotus Gallery, Hong Kong“There were calendars on the wall, school certificates in drawers — it’s quite poignant,” said Irvine. Stefan Irvine / Courtesy Blue Lotus Gallery, Hong KongHeritage valueWhile most of the villages Irvine photographed are abandoned, he was surprised to discover not all were.
Persons: Stefan Irvine, ” Irvine, “ It’s, , , Irvine, Wong Chuk, Lai Chi Wo, they’ll, Tung Ping Chau, Yim Tin Tsai, Luk Keng, Lai, they’ve, Hong, Wo Organizations: Hong Kong CNN, steely, Hong, HK, Irvine, Blue Lotus Locations: Hong Kong, Malaysian, India, Irvine, New Territories, Accounting, Hong Kong’s, London, Tai Peng, Lamma, Lai Chi, Queen's Hill, Fanling, Tung, Shenzhen, China, , Mau, Lai, Hong
Wealth Assistants also said that if clients didn't break even in the first year, they would get their money back. BI spoke with 16 people who invested between $35,000 and $100,000 each to work with Wealth Assistants and said they lost their money. Ten days later, Wealth Assistants said it laid off its roughly 75 employees and planned to shut down by December 1. Selling customers on the entrepreneur lifestyleMany Wealth Assistants clients said they were drawn by the opportunity to generate passive income. Cart.com sent Wealth Assistants a formal notice of termination in the fall after Wealth Assistants stopped paying its invoices earlier in the year, the representative said.
Persons: Mike Wimmer, Wimmer, they're, I'm, Ryan Carroll, Max K, Max O, , Carroll, Carroll didn't, we're, Tina Luk, breakeven, Seth Hamilton, Andrew Pou, Suzy Arriola, Saheb Sabharwal, Cart.com, Moe O'Neil, weren't, Max, you've, it's, they've, We've, we've, Madeline Stone, Jack Newsham Organizations: Business, ., Federal Trade Commission, Amazon, Products, Nobu Dallas, Lamborghini, Facebook, Wealth, BI, FTC, DK Automation Locations: China, Texas, Nobu, California, Houston, Pennsylvania, mstone@insider.com
View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. This move would effectively suspend production at the Cobre Panama mine until coal supplies resume as the mine cannot operate without power, one of the sources said. Protests have escalated since the government and First Quantum signed a new contract on Oct. 20 for Cobre Panama, which contributes 1% to global copper production and 5% to Panama's gross domestic product. "The focus will be to maintain the tailings pond 24/7," one of the sources said about the maintenance. Panama's top court will hear the legality of the contract awarded to First Quantum from Nov, 24, the company said in the statement.
Persons: Divya Rajagopal, Julian Luk, Denny Thomas, Chizu, Marguerita Choy Organizations: Minerals, REUTERS, Aris, Rights, Cobre, Reuters, First, Thomson Locations: Panama, Donoso, Rights TORONTO, LONDON, Cobre Panama, Toronto, London
German-Israeli woman Shani Louk has been confirmed dead, Israel's foreign ministry said. AdvertisementAdvertisementGerman-Israeli woman Shani Louk, whose semi-naked body was paraded through the streets of Gaza by Hamas militants, has been confirmed dead. "Shani who was kidnapped from a music festival and tortured and paraded around Gaza by Hamas terrorists, experienced unfathomable horrors. German-Israeli Shani Louk, whose semi-naked body was paraded through the streets of Gaza by Hamas militants. Ricarda told Bild that Palestinian sources told her that her daughter was alive in a Hamas hospital, but suffered a "severe head injury."
Persons: Shani Louk, , Shani Luk, Shani, Louk, Re'im, Ricarda Louk, Ricarda, Shani Nicole Louk, AMMAR AWAD, Daniel Hagari, Benjamin Netanyahu Organizations: Hamas, RTL, Service, The Washington Post, ntv, Reuters, Israeli, CNN Locations: Gaza, Israel, The, German
The project to revamp the LME's electronic system was due to go live in June this year. Sources said the front-end trading platform developed by U.S.-based Trading Technologies does not work for the complicated structure of contracts on the LME. In response to a request for comment, Trading Technologies said: "We would defer to the LME on this." The problem comes from the LME's unique date structure which allows trading for any day between the cash contract and the benchmark three-month forward. One important aspect, the LME said, is aligning its platform with other exchanges.
Persons: Peter Nicholls, Pratima Desai, David Evans Organizations: London Metal Exchange, City of, REUTERS, Companies Hong Kong Exchanges, Trust, Hong Kong Exchanges, HK, U.S, Technologies, Trading Technologies, Thomson Locations: City, City of London, Britain
Australian shares fell to a one-year low, as stronger-than-expected third-quarter inflation data raised bets that the central bank might raise rates next month. In the currency markets, the dollar index hit a two-week high of 106.77. By 0300 GMT the yen was trading at a one-year low of 150.43 per dollar. The Australian dollar fell to an almost one-year low of $0.6271 in morning trade. The New Zealand dollar also hit a nearly one-year low at $0.5776.
Persons: Androniki, Ben Luk, Seng, Brent, Gold, Xie Yu, Simon Cameron, Moore Organizations: Nikkei, REUTERS, Japan's Nikkei, Treasury, Multi, State Street Global, U.S, New Zealand, Thomson Locations: Tokyo, Japan, HONG KONG, U.S, Asia, Pacific, China, Hong Kong, Europe
Used copper wires are seen in a recycling company in Thoerishaus near Bern July 3, 2011. Copper producers increasingly want to share the risk and costs of projects, and the sector has already seen a jump in M&A activity, which more than doubled year-on-year to $14.24 billion in 2022. Miner and trader Glencore (GLEN.L) has been approached by potential investors in its Argentine copper projects Minera Agua Rica Alumbrera (Mara) and El Pachon, two sources said. According to Argentine government data, the projects could produce a combined 435,000 tonnes of copper a year. Both sources declined to be named because the information is not public.
Persons: Ruben Sprich, Glencore, Mara, El, Canada's Lundin, Jack Lundin, Lundin, Hudbay, EY, Paul Mitchell, Farid Dadashev, Clara Denina, Divya Rajagopal, Julian Luk, Veronica Brown, Jan Harvey Organizations: REUTERS, Sumitomo Metal Mining, Sumitomo, Reuters, BHP Group, BHP, Santo Domingo, Hudbay, Capstone, Taca Taca, Global Mining, Metals, RBC Capital Markets, Thomson Locations: Thoerishaus, Bern, Miner, Agua Rica, Argentine, Josemaria, Chile, Santo, Arizona, Rio Tinto's, Peru, Argentina
China funds look to Mideast cash as US investments wane
  + stars: | 2023-10-10 | by ( Summer Zhen | ) www.reuters.com   time to read: +4 min
Seven China equity funds, including hedge funds and mutual funds, running more than $500 billion in combined assets, told Reuters they visited the Middle East this year to raise money, three of them for the first time. The search for new capital could affect Asia's hedge fund scene, where China firms account for more than half the market. "In the past perhaps the holy grail of capital raising was the U.S.," said Effie Vasilopoulos, co-Leader of law firm Sidley Austin's Asia-Pacific investment funds group. So that dynamic is leading many of our clients to the Middle East." However, sovereign funds in the Middle East have been large buyers.
Persons: Aly, Effie Vasilopoulos, Sidley, Steven Luk, Erin Wu, Wong Kok Hoi, Wong, Summer Zhen, Tom Westbrook, Jacqueline Wong Organizations: REUTERS, Seven, Reuters, FountainCap Research & Investment, OP Investment Management, POLITICO, Big U.S, ' Pension, California State Teachers, APS, Thomson Locations: Shanghai, Shenzhen, China, HONG KONG, Seven China, U.S, Asia, Pacific, Europe, Australia, Hong Kong, Texas, Singapore, Middle Eastern
LONDON (Reuters) - Chile’s Codelco, the world’s largest copper producer, is reassessing the cost structure at its mine projects, its chairman said on Friday, given recent overruns. FILE PHOTO: The logo of Codelco, the world's largest copper producer, is seen at their headquarters in downtown Santiago, Chile March 29, 2018. The company, which has some of the highest input costs for miners in Chile, said in July direct production costs during the first six months of the year jumped 41.3% to hit about $2.12 per pound, from $1.506 the year before. In response, Codelco said it had a solid financial position and broad access to financial markets. The South American country has the world’s largest lithium reserves.
Persons: Codelco, Ivan Alvarado, Maximo Pacheco, Pacheco, ” Pacheco, Alejandro Rivera, Rivera’s, Rodrigues, Blaine J, Maximo Pacheco’s Organizations: REUTERS, Reuters, London Metal Exchange, for Copper, Mining Studies, Moody’s Investor Services Locations: Santiago, Chile, London, China
"It punctures the balloon on terminal rates and also creates more second guessing on the quality of the (economic) landings". With a crucial Bank of Japan meeting still to come this week, Japan's 10-year government bond yield rose to its highest in a decade. Ben Luk, senior multi-asset strategist at State Street Global Markets said the overall tone of the Fed's meeting on Wednesday, while not overly hawkish, included two surprises. The median forecast for the federal funds rate is 5.1% by year-end, up from 4.6% estimated in June. Additional reporting by Xie Yu in Hong Kong Editing by Shri Navaratnam and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.
Persons: BoE, Bond, John Hardy, Hardy, Goldman Sachs, Tom Hopkins, Ben Luk, Wall, Brent, clawing, Gold, Xie Yu, Shri Navaratnam, Tomasz Janowski Organizations: Sterling, Swiss, U.S . Federal Reserve, Dealers, Swiss National Bank, Bank of England, Saxo Bank, BRI Wealth Management, Treasury, Reuters Graphics, Apple, Nvidia, Japan's Nikkei, of Japan, State Street Global Markets, Thomson Locations: Europe, Britain, Sweden, Norway, Turkey, U.S, Asia, Pacific, Japan, Saudi Arabia, Russia, Hong Kong
Passersby walk past an electric board displaying Japan's Nikkei share average outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato Acquire Licensing RightsHONG KONG, Sept 21 (Reuters) - Asian stocks followed Wall Street's lead on Thursday, dipping across the board as investors interpreted the U.S. Federal Reserve's latest policy statements as signalling higher-for-longer interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.6%, with the Hong Kong benchmark shedding 0.8%. The yield on two-year U.S. Treasury notes rose to a 17-year high of 5.1970%. The overall tone of the Fed's latest meeting was not overly hawkish but there were two surprises, he said.
Persons: Issei Kato, Ben Luk, Luk, Brent, Xie Yu Organizations: Nikkei, REUTERS, . Federal, Hong, Japan's Nikkei, Treasury, State Street Global Markets, Fed, U.S ., Major U.S, Bank of England, Thomson Locations: Tokyo, Japan, HONG KONG, ., Asia, Pacific, Hong Kong, U.S, Indonesia, Philippines, Taiwan
The Codelco El Teniente copper mine, the world's largest underground copper mine is shown near Rancagua, Chile August 13, 2020. Output at the world's largest copper producer has been dropping despite $15 billion invested in flagship mines including El Teniente and Chuquicamata where costs have overrun significantly, according to an influential industry body. Codelco accounts for 29% of Chile's copper production. The world's largest consumer of industrial metals bought 25.3 million tonnes of copper concentrates last year, according to International Copper Study Group. The global copper concentrate market is expected to see a steep deficit during 2025-2027 as Asian and African smelters ramp up capacity, outpacing mine supply.
Persons: Fabian Cambero, Codelco, Julian Luk, Pratima Desai, Veronica Brown, David Evans Organizations: REUTERS, Codelco, Evergreen, Copper Study, Thomson Locations: Rancagua, Chile, Chilean, Codelco, China
A company logo of Shanghai Futures Exchange is displayed at a booth during LME Week Asia in Hong Kong, China June 14, 2016. REUTERS/Bobby Yip Acquire Licensing RightsBEIJING/LONDON, Sept 13 (Reuters) - The Shanghai Futures Exchange (ShFE) is looking into the possible launch of nickel futures for international use, a potential challenge to the London Metal Exchange's (LME) contract, five sources with knowledge of the matter told Reuters. Average daily LME nickel volumes plunged because of the crisis. CME Group (CME.O) is also looking to launch a nickel contract that would settle against prices gathered from a platform to be launched by British-based Global Commodities Holdings (GCH). CME did not respond to a request for an update on its plans for a nickel contract.
Persons: Bobby Yip, ShFE, Nickel, GCH, Pratima Desai, Siyi Liu, Julian Luk, Veronica Brown, Alexander Smith Organizations: Shanghai Futures, REUTERS, Rights, Shanghai Futures Exchange, London, Reuters, International Energy Exchange, CME, Global Commodities Holdings, Thomson Locations: Asia, Hong Kong, China, Rights BEIJING, LONDON, British, Singapore, Abaxx
"The application is a normal procedure for the offshore debt restructuring and does not involve (a) bankruptcy petition," it said in the filing, adding it is pushing forward with its offshore debt restructuring. Evergrande's offshore debt restructuring involves a total of $31.7 billion, which include bonds, collateral and repurchase obligations. A man walks past a No Entry traffic sign near the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. China's economic and property woes and the absence of concrete stimulus steps have sent a chill through global markets. "The China property sector is like a black hole, so many developers have been dragged into it since two years ago after Evergrande," said Winner Zone Asset Management CEO and CIO Alan Luk.
Persons: Evergrande, Aly, Nomura, HSI, Alan Luk, Clare Jim, Jonathan Stempel, Dietrich Knauth, Manya, Sumeet Chatterjee, Shri Navaratnam, Kim Coghill Organizations: HONG KONG, China Evergrande, HK, U.S, Hong, British Virgin Islands, China Evergrande Group, REUTERS, Zhongrong International Trust Co, Longfor, Asset Management, Manya Saini, Thomson Locations: China, Asia, HONG, U.S, United States, Hong Kong, British Virgin, New York, Shenzhen, Guangdong province, Beijing, Bengaluru
REUTERS/Ivan Alvarado/File Photo Acquire Licensing RightsLONDON, Aug 17 (Reuters) - Chile's Codelco, the world's largest copper producer, is at risk of insolvency due to rising costs and a growing debt pile stemming from projects that missed output targets, Chile’s Centre for Copper and Mining Studies (CESCO) said in a report seen by Reuters. At the heart of Chile's mining industry, Codelco needs to revive it's copper production from a 25-year low. "Codelco has explained...it will not redirect its focus from copper production or divert resources from other areas," Codelco said in an emailed response. Codelco's production in the first half of 2023 was 633,000 metric tons of copper, the lowest in 25 years. Over the past five years, its copper production has dropped 17% and is expected to keep falling until 2025.
Persons: Ivan Alvarado, Codelco, Andre Sougarret, Sougarret, CESCO, Julian Luk, Fabian Cambero, Pratima Desai, Veronica Brown, Kirsten Donovan Organizations: REUTERS, for Copper, Mining Studies, Reuters, Codelco, Thomson Locations: Santiago, Chile
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. macroeconomic conditions remain 'very strong,' strategist saysBen Luk of State Street Global Markets discusses the latest U.S. inflation data.
Persons: Ben Luk Organizations: Street Global Markets
The 400,000 metric ton-per-year smelter, located in Chongzuo city of Guangxi prefecture, will start processing copper concentrates within three months - compared with market expectations for the first half of 2024. "It came as a surprise," one major copper concentrates supplier said, adding that Nanfang had been buying more raw copper materials on the spot market over the past two weeks. Purchasing copper concentrates requires access to liquidity and cash, particularly given relatively high copper prices around $8,400 a metric ton. "It is easier to finance copper projects, credit lines are sufficient to kick-start the second smelting line. Rising domestic copper smelting capacity in China will mean growing demand for copper concentrates and less appetite for buying refined copper from foreign companies.
Persons: Nanfang Nonferrous, Nanfang, COVID, Tongling, Julian Luk, Pratima Desai, Veronica Brown, David Evans Organizations: Reuters, Thomson Locations: China, Chongzuo, Guangxi prefecture
[1/3] BMW's concept model i Vision Dee is unveiled during an event at the Auto Shanghai show, in Shanghai, China April 18, 2023. While the battery-electric vehicle market share of German automakers in China is rising, it is still miniscule. The EV sales of all four German brands added up to only a quarter of BYD's in 2022. "The Chinese market is no longer as stable for German carmakers as it was," Thomas Luk, partner at management consultancy Kearney, said on the sidelines of the Shanghai show. Many are also adopting direct sales, an approach German automakers like BMW and Mercedes-Benz have also said in recent months they are moving towards.
Three Gen Zers gave their reasons for preferring printed editions over e-books. But when it comes to reading, Gen Zers say they prefer to pick up a printed book over an e-book. Book sales in the US and the UK have boomed in the past two years, the management consultancy McKinsey found. Perhaps the most surprising trend is not Gen Zers' love of books but the way they consume them. She said while e-books were affordable and great for traveling, her preference was printed books.
By 2040, it's expected to have 400 million people above the age of 60 — more people than in the entire US. "It's obvious that relying on contributions from medical insurance schemes to fund age care services is not likely to be viable in the longer term," she said. Alzheimer's is quickly rising as a concern in China, Luk said. "Is China aging rapidly? Beijing has been pressuring the private sector into building daycare centers, wards, and other age care infrastructure to shore up gaps in local government finances, Gu said.
În ultimii doi ani, Chicu a fost ministru al Finanțelor în Guvernul Filip, consilier al președintelui Igor Dodon și prim-ministru susținut de PSRM. A fost propulsat de socialiști în fruntea Guvernului în toamna anului 2019, la câteva ore de la demiterea Guvernului condus de Maia Sandu. Mesajul a fost postat pe Facebook, iar ulterior a fost șters. Ministra Sănătății, fotografiată fără mănuși și mască, la magazinÎn martie 2020, la începutul pandemiei de Covid-19, Dumbrăveanu a fost implicată într-un scandal, după ce a fost a fost fotografiată la un supermarket din Chișinău fără mască și mănuși de protecție. Tot ea a tăinuit, timp de cinci zile, în august 2020, că a fost infectată cu COVID-19.
Persons: Chicu, Filip, Igor Dodon, Maia Sandu, !, P.S ., Siegfried Mureșan, Sandu, Zinaida Greceanîi Viorica Dumbrăveanu Viorica Dumbrăveanu, Zinaida Greceanîi, candidatei, Dumbrăveanu, Usatîi, El, Ulterior, Vlah, Economiei Anatol, Mihail, Vladimir Plahotniuc ., Soții Usatîi, Alexandru Botnari, Galina Usatîi, Svetlana Ambros, Alexandru Crăciun, Ivan Gheorghiu Ivan Gheorghiu, Ștefan cel Mare, N ., Gheorghiu, Iulia Costin Iulia Costin, Pavel Filip, Candidata, Costin, Iulia Costin Organizations: Partidului Dezvoltării, Finanțelor, PSRM, CEC, Nissan, Chișinău, Sănătății, Ministerului Economiei, Economiei, Toyota, Asociației Internaționale, Auto, Usatîi, Tribunalul, Alexandru, Ministerului Educației, Culturii, Cercetării, Fotbal, Universitatea de Medicină, Hyundai, Organizației, Națiunilor Unite, Mercedes Locations: Moldovei, europeni, Moldova, Durlești, Chișinău, Hâncești, PDM, Ungheni, Iași, Bruges, Belgia, Mijlocii, CEC
Ziarele evreiești au scris că Netanyahu a fost însoțit de șeful Mossad, Yossi Cohen. Presa de stat saudită nu a făcut nicio referire la această întâlnire, în vreme ce cabinetul premierului israelian nu a răspuns întrebărilor pe acest subiect. Chiar dacă un acord similar între israel și Arabia Saudită nu este realizabil, călătoria de duminică noapte ar marca o victorie diplomatică importantă pentru Israel. Administrația Trump, apropiată de Netanyahu, a făcut eforturi în ultimele săptămâni de a sprijini guvernul israelian. În acest turneu, Mike Pompeo a devenit primul diplomat american care a făcut o vizită oficială într-o așezare israeliană din West Bank, un sprijin evident pentru mișcarea naționalistă de preluare a terenurilor în teritoriile palestiniene ocupate.
Persons: Benjamin Netanyahu, Mohammed bin Salman, Mike Pompeo, Netanyahu, Yossi Cohen, bin Salman, Benny Gantz, Donald Trump Organizations: Guardian, Mossad, West Locations: Arabia Saudită, american, Israelului, saudită, Tel Aviv, saudit Neom, Israel, Emiratele Arabe Unite, EAU, Bahrein, israel, Iran, Israelul, Orientul Mijlociu, israeliană, West Bank
До конца эксперимента осталось пять дней. Больше всего денег за время эксперимента ушло на коммунальные услуги — около 490 леев и на подарки ко дню рождения друзей. За время экспериментов я также купил 1 кг чечевицы (закончилась) и 1 кг желтого гороха (осталось примерно 700 граммов). Овощей покупал очень мало: помидоры, огурцы и капусту (не больше 2 кг всего), лук (около 1 кг) и морковь (около 0,5 кг). Как экономилКаких-то новых способов или лайфхаков экономии денег я не выработал.
Persons: Николай Пахольницкий, Очень Organizations: NM
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