Latest news with #crossborder
South China Morning Post
an hour ago
- Business
- South China Morning Post
Japan and Singapore show even property safe havens are not problem-free
Two findings stood out in CBRE's survey on Asia's commercial property investment market published last month. The first was that Japan alone accounted for 36 per cent of transaction volumes in the first quarter of this year. The second was that it was easily the most popular market among cross-border investors, with 86 per cent of respondents describing their level of interest in Japan as very strong or fairly strong. These findings underscore the strong appeal of a market that has long been perceived by foreign investors as a safe haven. At a time when the United States – long the safe haven of choice for global investors – has become a source of instability and unpredictability , Japan's political stability, policy predictability and the depth and liquidity of its real estate market have taken on added significance. Persistently low interest rates, the cheap yen , the return of inflation after decades of stagnation and Japan's position as an attractive alternative to China have added to its appeal among investors. Even so, there are signs that Japan has become too appealing. In the commercial property market , the weight of foreign and domestic capital targeting Japanese assets in the past several years has driven down rental yields for institutional grade properties in Tokyo to extremely low levels. Even in Osaka, a relatively illiquid market, prime office and retail yields are lower than in Seoul and Singapore, which are among the most actively traded markets in the Asia-Pacific. Low borrowing costs and higher loan-to-value ratios in Japan allow investors to earn a positive carry, which means the returns from holding an asset exceed its financing costs. However, a narrowing spread, or gap, between rental yields and government bond yields makes Japanese real estate less attractive from a pricing standpoint. Moreover, the cheap yen – down about 38 per cent against the US dollar since early 2021 – has fuelled a boom in overseas tourism . Last year, hotels accounted for 20 per cent of investment activity, up from 5 per cent in 2021, according to JLL data.
Arab News
2 days ago
- Business
- Arab News
Pakistan PM says Indian bid to set ‘new norm' thwarted, vows focus on economy and governance
ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday highlighted a range of security threats facing Pakistan days after a military standoff with India, saying New Delhi's attempt to establish a 'new norm' by targeting his country at will had been thwarted, though Pakistan must now focus on strengthening economy and governance. The remarks came during a televised address to senior military officers at the Command and Staff College in Quetta, where the premier recounted the recent escalation between the two nuclear-armed neighbors. The flare-up followed an April attack on tourists in Indian-administered Kashmir, which New Delhi blamed on a Pakistan. Islamabad denied the allegation and called for an impartial probe, but tensions rapidly escalated into four days of cross-border hostilities, ending after a US-brokered ceasefire on May 10. 'The threats we face are no longer limited to conventional battlefields,' Sharif said during his address. 'They are multifaceted, ranging from kinetic warfare to cyberattacks, economic coercion to disinformation campaigns and hybrid threats that challenge both our borders and our ideological frontiers.' 'The recent Indian aggression against Pakistan, violating our territorial integrity and targeting our innocent civilians, was not merely countered successfully, but instead we succeeded in turning the tables on those who were dreaming of establishing a new norm,' he said. Sharif added that Pakistan accepted the ceasefire offer 'in the interest of peace, progress and prosperity in South Asia,' asserting that India's claim of a new strategic precedent 'was buried for all times to come by our brave armed forces.' 'In fact, it was Pakistan that established the new norm in its relations with India,' he said. 'Henceforth, we will not allow her to behave in an arrogant and haughty manner.' The prime minister said India had suffered 'serious setbacks in both warfare and finest diplomacy' during the episode. Turning to domestic matters, Sharif said while the military had fulfilled its responsibility, Pakistan still faced 'major challenges in the field of economy and governance.' He cited the dire financial situation when his administration took office, saying it compelled Pakistan to seek external assistance from lenders such as the International Monetary Fund (IMF). However, he maintained the economy had since stabilized and was now on a positive trajectory. The prime minister also criticized India's recent move to suspend the Indus Waters Treaty (IWT), a World Bank-brokered water-sharing agreement signed in 1960, reiterating it was unacceptable to his country. 'We will not allow India to weaponize water by holding the Indus Waters Treaty in abeyance,' he said. 'This is an absolute red line for us.'
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Singapore clears 1GW of solar imports from Indonesia
The move is part of efforts to shore up energy security via cross-border links. (Bernama pic) SINGAPORE : Singapore took a step toward importing up to 1 gigawatt of solar power from Indonesia, part of the tiny city-state's efforts to shore up energy security via cross-border links. The country's Energy Market Authority granted a conditional license to Indonesia's Singa Renewables Pte Ltd. – a joint venture between France's TotalEnergies SE and Royal Golden Eagle Pte. Ltd., according to a statement. It will also partner with Singapore Energy Interconnections Pte. Ltd. to explore building a subsea power cable between the neighbours, the statement said, without providing an investment amount or timeframe for the project. It's the latest of several planned connections in Southeast Asia aimed at carrying low-carbon energy across borders. Singapore, which depends on imported liquefied natural gas for most of its electricity, has signed deals worth billions with countries as far away as Australia to bring in up to 6 gigawatts of clean power by 2035. The country has approved 3.4 gigawatts of mostly solar energy imports from Indonesia. Earlier this week, it said it's exploring bringing in wind power from Vietnam. In February, it inked a hydropower deal with Malaysia. The subsea cable project 'strengthens its partnership with Indonesia in contributing to the Asean power grid which aims to integrate the power systems of member states in the region,' the companies said, referring to the Association of Southeast Asian Nations, of which both countries are members. The announcement came as Singapore and France signed a wide-ranging deal during President Emmanuel Macron's visit to the city-state to enhance cooperation in clean energy, defence and cyberspace.
Bloomberg
3 days ago
- Business
- Bloomberg
Singapore Clears 1GW of Solar Imports from Indonesia
Singapore took a step toward importing up to 1 gigawatt of solar power from Indonesia, part of the tiny city-state's efforts to shore up energy security via cross-border links. The country's Energy Market Authority granted conditional license to Indonesia's Singa Renewables Pte Ltd. — a joint venture between France's TotalEnergies SE and Royal Golden Eagle Pte. Ltd., according to a statement. It will also partner with Singapore Energy Interconnections Pte. Ltd. to explore building a subsea power cable between the neighbors, the statement said, without providing an investment amount or timeframe for the project.
South China Morning Post
4 days ago
- General
- South China Morning Post
Dragon Boat Festival: Hong Kong set for 3.2 million cross-border trips
About 3.2 million trips are expected to be made across Hong Kong's borders during the Tuen Ng Festival long weekend, with a peak of about 540,000 arrivals at land crossings on Sunday. The Immigration Department said on Thursday that most of the cross-border traffic would pass through land checkpoints from neighbouring Macau and Shenzhen, accounting for 85 per cent, or 2.73 million, of the trips. Hong Kong will be hosting citywide dragon boat races over the weekend, with authorities anticipating a peak of 570,000 outbound trips on Saturday and 540,000 inbound ones on Sunday. The department said the Lo Wu, Lok Ma Chau Spur Line and Shenzhen Bay control points were set to be busy, forecasting daily averages of about 230,000, 200,000 and 140,000 trips, respectively. The holiday, also known as Dragon Boat Festival, runs from Saturday to Monday on the mainland this year. 'To avoid congestion and longer-than-usual waiting times for immigration clearance, the Immigration Department advises all land boundary passengers to plan in advance, avoid making their journeys during busy periods, and keep track of radio and TV broadcasts on traffic conditions at various control points,' a department spokesman said.
