The Week In Numbers: Lucky Josephine

China’s online retailer, Alibaba, said it has broken its own sales record for Singles Day. China’s imitation of America’s Black Friday, is reckoned to be the busiest shopping day in the Middle Kingdom. At the close of trade on the 11th day of the 11th month, China’s largest retailer said it clocked up US$14.3 billion of sales in 24 hours, which was a 60% increase from last year. What does Jack Ma have up his sleeve for next year?

Staying with China, the world’s second largest economy said industrial output only rose 5.6% in October compared to a year ago. That would match the slowest increase since the Great Financial Crisis. But retail sales numbers, which are now more closely eyed for China’s success in rebalancing its economy, beat market expectations with a rise of 10.9%. You win some, you lose some.

Singapore is losing its appeal as a destination of choice for medical tourists. According to a report by BMI Research, it costs 41% more to have heart-bypass surgery in Singapore compared to Thailand. It costs even less for the same operation in Malaysia.

But there are no flies on Singapore listed hospitals. IHH Healthcare Berhad (SGX: Q0F) has been looking overseas to expand, as has Raffles Medical (SGX: R01), which is seeking opportunities in China and Vietnam.

The Organisation for Economic Co-operation and Development (OECD) is concerned about the slowdown in global trade. It said global growth has eased to around 3% this year, which is below the long-run average. It blamed a slowdown in China and the ongoing accumulation of trade restrictions for the slowdown. It is high time that many countries wake up and smell the coffee.

And finally, a very rich Hong Kong tycoon has splashed out US$48.4 million for a 12.03-carat blue diamond for his seven-year-old daughter. Joseph Lau, a property billionaire, has renamed the diamond, which was originally called “Blue Moon”, the “Blue Moon of Josephine.” Most seven-year-old girls are happy to get a tricycle as a present.

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