Luxury loans trending in Asia
Hong Kong’s ladies-who-lunch are indulging in a smart new trend — cashing in luxury handbags for quickie loans in the Asian style capital. Luxury purses by brands like Hermès, Louis Vuitton and Gucci can all be used to secure a loan in less than half an hour, with specialist pawnbrokers providing cash at up to 80% of a bag’s value. Yes Lady Finance Co. offers the first specialized loans against pricey purses in Hong Kong, a city with around 200 licensed pawnbrokers and nearly a thousand shadier backstreet operations. The company’s “brand name handbag loan” provides cash in half an hour in exchange for luxury bags from big name brands. […]
World’s most expensive city you probably never want to live in
The Angolan capital Luanda has regained the top spot in an annual survey of the most expensive cities for expatriates, followed by Moscow and Tokyo. The survey by the Mercer consulting group is published annually to help companies assess compensation allowances for expatriate workers. It compares the cost of over 200 items in 214 cities, including housing, food, transport and entertainment. “Despite being one of Africa’s major oil producers, Angola is a relatively poor country yet expensive for expatriates since imported goods can be costly,” Barb Marder, a senior partner at Mercer, said in a statement. “In addition, finding secure living accommodations that meet the standards of expatriates can be […]