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KUALA LUMPUR – ANZ Bank says Malaysia’s fiscal fundamentals are improving markedly, and that a ratings upgrade has now become more likely in the foreseeable future.

HONG KONG - Notwithstanding its commodity abundance, Latin America has already accrued a trade deficit with China, while Africa has a questionable surplus, BBVA Bank says in a new research report on South-South trade, which it points out is growing in a clear departure from traditional North-South trade dominance.

SINGAPORE – In an update of its Asia Economic Review, ANZ Bank says China’s rate cut may excite the market, but it will have limited impact on the real economy. “(China’s) PMI may show recent growth-boosting measures bearing fruit,” ANZ says, suggesting that India’s Q3 growth is likely to have come off sharply but things are looking up ahead.”

BEIJING – Chna’s domestic tyre industry has called on the Government to take ‘decisive easures’in response to imposition by the United States of anti-dumping and countervailing duties on tyres imported from China. On Monday, the US Department of Commerce claimed that Chinese manufacturers were unfairly subsidised’ pm car and light truck tyres by the Chinese Government and should be subject to punitive tariffs ranging from 17.7% to 81.3%, depending on the manufacturer.

BEIJING - China today issued two notices releasing details of its long-awaited tax policies for Qualified Foreign Institutional Investors (“QFIIs”), RMB Qualified Foreign Institutional Investors (“RQFIIs”) and the Shanghai-Hong Kong Stock Connect scheme (“SHSC Scheme”). The SHSC Scheme will formally launch on November 17 In a Client Alert, lawyers Baker & McKenzie offer the following summary:

BEIJING – The China initiative for a Free Trade Zone for Asia-Pacific reinvents the APEC Bogor Declaration of 20 years ago – and that went simply nowhere. Then, APEC leaders agreed to common goals of free and open trade and investment by 2010 for industrialised economies, and by 2020 for developing economies. APEC deliberations on China’s FTAAP could well go the way of the 1994 Bogor Goals. Seen OPINION http://www.asiatoday.com.au/content/20-years-beijing-revisits-bogor-idea... (ATI).

BEIJING - Mexico’s Communications and Transport Ministry has revoked a US$3.75 billion high-speed rail contract with a Chinese-led consortium amid accusations that the Mexican Government favoured a group led by China Railway Construction Corp, the sole bidder.