Monday, October 23 2017 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
SINGAPORE - Asia-Pacific's economic picture looks broadly positive after the third quarter, according to S&P Global Ratings. Among the largest economies, China and Japan show better-than-expected growth momentum, although they have differing risk profiles. But North Korea remains an active risk.
MELBOURNE - CMA CGM has reached an agreement to purchase through its subsidiary, ANL, the majority of the shares in SOFRANA Unilines, a key player in the Pacific Islands regional maritime trade.
SEOUL – Declaring that the current security situation on the Korean Peninsula “is more severe than at any other time”, South Korea’s President, Moon Jae-in, has urged North Korea to give up its nuclear weapons and to return to the same state as relationships were on October 4, 2007, when an inter-Korean declaration was signed.
SEOUL – South Korea’s President,Moon Jae-in, has reaffirmed his Administration’s will to protect peace on the Korean Peninsula. Addressing a ceremony for the nation’s 69th Armed Forces Day. He said: “Our descendants should benefit from co-prosperity on a free and peaceful Korean Peninsula.
HONG KONG - S&P Global Ratings estimates that China's debt could rise a hefty 77% to Chinese renminbi 302 trillion (US$46 trillion) over 2017-2021, but this would means that the pace of growth is slowing.
BEIJING - China has ordered North Korean companies and joint ventures operating in China to shut down within 120 days as it applies UN sanctions imposed following Pyongyang's sixth nuclear test, the Ministry of Commerce and the State Administration for Industry and Commerce said.
BEIJING - Chinese Vice Premier Zhang Gaoli met with Alexei Miller, CEO of Russia’s natural gas company Gazprom, on Monday, agreeing to broaden co-operation in the energy sector, China’s State newsagency, Xinhua, reported, quoting Zhang as saying that, promoted by leaders of the two countries, Sino-Russian energy co-operation had achieved remarkable results.
SINGAPORE - For the first time since the end of the global financial crisis, the credit quality of the largest listed companies in Southeast Asia seems to be stabilising, according to two reports S&P Global Ratings released today. It says corporate credit health in the region has been boosted by an earnings recovery rather than debt reduction.
BEIJING – An Executive Meeting of China’s State Council chaired by Premier Li Keqiang on September 20 extended the “grace period” for China’s Cross-Broder E-Commerce Pilot Programme, previously to expire on December 31, 2017 until December 31, 2018.
TAIPEI – Taiwan’s GDP is likely to see a cyclical rebound in the third quarter of 2017, according to an Economic Update by ANZ Bank. It says the economy continues to recover steadily, chiefly benefitting vibrant activity in global electronic supply chains.
CANBERRA - The Australian Government has committed to establishing a national space agency to ensure Australia has a long-term plan to grow its domestic space industry. It says the agency will be the anchor for domestic co-ordination and the “front door” for international engagement.
BEIJING - China is to roll out a negative list for foreign investment which has been tested in pilot free-trade zones, the State newsagency, Xinhua, reported. It said the negative list model, which states the sectors and businesses that are off limits to foreign investment, will be adopted nationwide as early as 2018.
HANOI - The Vietnam Ministry of Industry and Trade (MOIT) has announced a plan to eliminate 675 current investment requirements and conditions. Lawyers Baker McKenzie say practical application of the decision will reveal the effective outcome of this announcement as investment procedures will be regulated by MOIT at its discretion.
NEW DELHI - The Reserve Bank of India (RBI) announced today that masala bonds will no longer be part of Foreign Portfolio Investor (FPI) limits on corporate bonds, freeing up INR440.01bn (approx. USD6.8bn) which will be released for FPI investment in corporate bonds over the next two quarters.
HONG KONG - S&P Global Ratings today lowered its long-term sovereign credit ratings on China to 'A+' from 'AA-' and the short-term rating to 'A-1' from
'A-1+', but said the outlook on the long-term rating is stable. S&P also revised its transfer and convertibility risk assessment on China to 'A+' from 'AA-'.
BEIJING – A senior Communist Party of China (CPC) official, Liu Yunshan, said on Tuesday that the sound and stable development of relations between China and Vietnam would greatly benefit both, China’s State newsagency, Xinhua, reported.