Treasury

The so-called ‘BRICS Bridge’ project may have stalled, but efforts to undermine the primacy of the US dollar as the world’s reserve currency have received a boost from an unlikely source; although any path to a true alternative will be long and difficult.

DHL said it will temporarily suspend the collection and shipping of B2C shipments to the US where the declared customs value exceeds $800, while the Hongkong Post will suspend air mail containing goods from April 27, amid US customs changes.

The global economy is going through unprecedented times and expert panelists from Baguio Green Group, SF Reit Asset Management and HSBC discussed how to best manage the volatility.

The financing will support the Hong Kong property giant's general funding needs with the aim to tie with its sustainability and social initiatives.

Buyers are asking Bangladeshi exporters to share the additional tariff burden in a garment market which exports almost $9bn of products to the US annually; meanwhile the government wants to reduce barriers for US imports.

The Hong Kong government is supporting exporters with insurance and cash flow needs, with Donald Trump now, temporarily, exempting electronics from tariffs imposed on China and Hong Kong.

US president Donald Trump has ordered a 90-day pause on retaliatory tariffs above the 10% already imposed, except for Chinese goods, with tariffs now at 125% after China retaliated; the EU has also retaliated. Trump may have been fearful over the impact on the US bond market.

The merged businesses, to be called SILQ Group, help support SMEs through funding and their supply chain; the merger is backed by a $110m funding round from Valar Ventures and Saudi Arabia's Public Investment Fund.

Stock markets have fallen sharply and global recession risks have climbed as US import tariffs could rise to the highest level in a century on April 9; a weaker dollar could help address US trade deficits.

China, India, Vietnam, Korea, Japan, Bangladesh, Malaysia, Taiwan, Cambodia, Thailand, Pakistan and Indonesia to be hit particularly hard by US tariffs on imports announced on April 2; many fear the move could spark a global trade war.

The Mongolian national payment card has teamed up with a HK provider to be accepted in Hong Kong; the move is led by Mongolbank.

Global investors, with the majority in Asia, participated in the deal which included five year, 10 year and 30 year senior bonds, and is the largest US dollar bond issuance in Hong Kong in the Reg S format; the funds will help drive infrastructure development.