Sunday, December 3 2023 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
HONG KONG --- Macau's proposed gaming law amendment signals lower license renewal risks for rated issuers, according to global ratings agency Standard and Poors.
HANOI - Vietnam's economy expanded by 5.22% y/y in Q4 2021, beating market estimates. A stronger-than-expected recovery in exports supported growth, despite the surge in pandemic cases.
SINGAPORE -- With substantial vaccination coverage attained in most economies, ANZ Bank economists foresee a less-interrupted recovery in 2022, with the ASEAN region gaining the most.
TAIPEI -- Opening the 2021 Taiwan-US-Japan Trilateral Indo-Pacific Security Dialogue in Taipei City, President Tsai Ing-wen reaffirmed Taiwan's commitment to working with like-minded partners to promote a secure, peaceful, free and open Indo-Pacific region.
She said no amount of external pressure could shake Taiwan's commitment to freedom, human rights, the rule of law, and particularly partnering with like-minded democracies around the world.
HONG KONG - The Hong Kong Trade Development Council (HKTDC) is forecasting that Hong Kong exports will grow by 8% in value in 2022, down from the 25% expansion experienced in 2021.
CANBERRA -- Australia has ratified the Regional Comprehensive Economic Partnership Agreement (RCEP), giving farmers and businesses access to the benefits of what will be the world's the largest free trade agreement from January 1,2022.
KUALA LUMPUR -- Hong Leong Bank and Hong Leong Islamic Bank (HLB) have introduced HLB Solar Plus Loan/Financing-i, a new green energy financing facility for home owners to seamlessly apply for financing of solar power energy systems together with their home loan/financing application.
BEIJING -- JD.com expects its first carbon-neutral intelligent industrial park for China's logistics industry, the Xi'an Asia No.1 logistics park now under construction, to be carbon-neutral on the operations level by early 2022.
BANGALORE -- Australia is to establish a new consulate in Bangalore and to set up a centre of excellence for critical and emerging technology policy in India as part of efforts to drive the technology partnership between the two countries.
SEOUL-- South Korea's inflation accelerated further to 3.7% y/y in November, its fastest pace since December 2011.
SINGAPORE -- Credit and financing conditions are largely favourable in the run-up to 2022, says S&P Global Ratings. However, factors including high cost inflation and the new COVID-19 Omicron variant could pose a significant risk to that stability.
GENEVA -- The International Air Transport Association (IATA) has released October 2021 data for global air cargo markets showing that demand continued to be well above pre-crisis levels and that capacity constraints had eased slightly.
PHNOM PENH - Four companies -- Continent Assets Management Co., Ltd, PLMP Venture Capital Co., Ltd, PropNex Cambodia Co., Ltd and Ly Ly Kampong Seila Special Economic Zone Co., Ltd -- have signed an MOU to jointly redevelop Sihanoukville City as a fintech hub.
BEIJING -- Rapidly rising shipping rates compounding crippling supply chain disruptions are straining China's minnow commodities exporters as key industry stakeholders prepare for further challenges, according to the global banking research and advisory firm, East and Partners, which says elevated freight rates could extend well into 2023.
SHANGHAI - China's decision to reduce itsloan prime rate (LPR) has reinforced the ANZ Bank view that Chinese authorities are increasingly open to cutting interest rates amid looming economic headwinds.
HONG KONG - Ratings agency Standard and Poor's has downgraded Hong Kong major Li & Fung, saying its planned sale of LF Logistics is negative to the business strength of the global supply chain manager. The logistics arm of Li & Fung was likely to account for 50%-60% of full year EBITDA in 2022, S&P said.