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Vietnam’s GDP growth accelerates to 6.17%

July 18, 2017

HO CHI MINH CITY - After disappointing GDP growth in the first quarter of 5.15% YoY, Vietnam achieved  6.17% YoY for the second quarter, taking the figure for the first half to 5.73% YoY. Sector-wise, solid growth continued to be seen in the manufacturing and construction sectors (+10.5% YoY and +8.5% YoY in 1H, respectively), but the mining sector was still weak (-8.2% YoY) due to low oil prices.

Chinese overseas investment plunges 46% in first half

July 17, 2017

SHANGHAI - China’s nonfinancial outbound direct investment (ODI) dropped significantly during the first half of this year as companies spent less on overseas mergers and acquisitions. Caixin reports that Chinese companies spent US$48.2 billion as ODI from January through June, a decline of 45.8% from the same period in 2016, Commerce Ministry spokesman Gao Feng told a news conference.

Central Bank moves to keep liquidity stable in China

July 14, 2017

BEIJING - China’s central bank yesterday announced lending worth RMB360 billion (USD 53 billion) via the medium-term lending facility to keep liquidity stable. The loans will mature in one year with an interest rate of 3.2%, according to the People’s Bank of China.

The MLF was first introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank by using securities as collateral.

Vietnam’s growth up significantly to 6.17% for second quarter

July 13, 2017

HO CHI MINH CITY – After disappointing GDP growth in the first quarter (5.15% YoY), Vietnam achieved impressive growth of 6.17% in Q2, bringing the figure of the first half (1H) at 5.73%. Sector-wise, solid growth continued to be seen in the manufacturing and construction sectors (+10.5% YoY and +8.5% YoY in 1H, respectively), but the mining sector was still weak (-8.2% YoY) due to low oil prices.

Negative outlooks on Asia-Pacific economies remain elevated: S&P

July 13, 2017

SINGAPORE - The number of negative outlooks in Asia-Pacific economies remains elevated as global and regional uncertainties weigh on credit metrics, says ratings agency Standard and Poor’s. “Following the upgrade of the Indonesian sovereign credit rating to investment grade, none of the 21 ratings in the region currently record a positive outlook,” S&P says.

India leads world in trade complaints against China

July 7, 2017

BEIJING - India overtook the United States as the country with the most trade remedy investigations against China in the first half of this year, China’s Ministry of Commerce reports. India initiated 12 investigations against Chinese products, including aluminum foil and photovoltaic products, from January-June, followed by the US, which had 11, according to the Ministry.

20 years on from crisis, Asia Pacific growth Is flat: S&P

July 7, 2017

SINGAPORE - Asia-Pacific economies are drifting into the third quarter of 2017 on a quiet note, with the macro story flat on the 20th anniversary of the Asian Financial Crisis, says Paul Gruenwald, S&P Global Chief Economist for Asia-Pacific. "Hopes are fading fast for a reflation story driven by the Keynesian
inclinations of the new U.S. Administration," he says in a new report.

Global air freight demand up 13% but may have peaked: IATA

July 7, 2017

GENEVA - International Air Transport Association (IATA) data for global air freight markets shows demand, measured in freight tonne kilometres (FTKs), grew 12.7% in May 2017 compared to the year-earlier period. This was up from the 8.7% annual growth recorded in April 2017 and is more than three times higher than the five year average growth rate of 3.8%.

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