HO CHI MINH CITY – Vietnam’s economy continues to be fuelled by a solid capital influx from both FDI and private sector. In the first month of 2017, it received pledged FDI of US$1.42 billion for newly-registered and supplemental capital (+6.6% YoY), while disbursed FDI reached US$ 850 million (+6.3% YoY).
ATI Newswire - Subscriber Only
HYDERABAD – Australia’s NSL Consolidated has won its first commercial purchase order for 4,000 tonnes of premium iron ore from its Phase Two wet benefaction plant, some 200km northeast of the State capital. NSL said discussions are ongoing with multiple customers.
SHENZHEN – The launch of Shenzhen’s first Innovation and Entrepreneurship International Competition is being seen as a bold move by Shenzhen authorities to attract more leading edge ideas and high-tech skills to a city that is already at the heart of China’s global success in new fields of technology.
JAKARTA – Ratings agency Moody's has revised Indonesia's Baa3 sovereign rating outlook to positive from stable citing Indonesia's reduced vulnerability to external shocks and improved track record of macroeconomic stability.
SINGAPORE - The decision last week by China to edge up the interbank rate by 10 basis points to 2.35% is a “very clear signal” by the Chinese central bank that it will introduce short-term rates as benchmarks for bank lending rates, according to Iris Pang, senior economist at Natixis. She told ATI that Chinese banks previously have used deposit and lending rates as their benchmark.
TOKYO – A briefing note from Nikko Asset Management says the cumulative positioning of investors in companies and asset classes that are deemed safe in a “lower for longer” environment is undergoing a significant test at present. “The scale and duration of changes to date suggest that more capitulation is likely if the policy measures being promised by President Trump are enacted,” it says.
~SINGAPORE - S&P Global Ratings today assigned its preliminary 'AAA' long-term foreign currency rating and 'cnAAA' long-term Greater China regional scale rating to the planned U.S. dollar-denominated one billion sukuk (trust certificates) by Hong Kong Sukuk 2017 Ltd. a special purpose vehicle incorporated in Hong Kong.
SINGAPORE - Slow economic growth and slow domestic consumption will weigh on Thai banks' asset quality and profitability this year, says ratings agency Standard and Poor’s.
MELBOURNE - Australia Post today announced an expanded relationship with the world’s biggest online retailer, Alibaba, to strengthen trade between Australian businesses and consumers across Southeast Asia.
SYDNEY – The major Australian supermarket chain, Woolworths, today signed off with China’s national credit card, UnionPay International, to accept UnionPay cards across selected Woolworths supermarkets.
HONG KONG - The People’s Bank of China today repriced the cost of short-term funding by raising its 7-day reverse repo rate by 10 basis points to 2.35% from 2.25%, a move which ANZ Bank describes as significant because it suggests the PBoC will adopt a flexible interest rate regime in 2017.
HONG KONG – BBVA researchers expect the RMB exchange rate to finally shift to a “clean float” as the authorities intended to do in August 2015. “Financial turmoil following the unsuccessful reform (then) could slow the pace of the transition but can’t change the final destination,” BBVA suggests.
BRISBANE – Andrew Griffiths, newly-appointed Executive Dean of the University of Queensland’s Faculty of Business, Economics and Law, plans to strengthen the faculty’s international position by continuing to develop and expand its Asia Pacific focus. He also wants to strengthening its ties in North America.
BEIJING – In what is seen as a “first” in China, the Nanjing Intermediate People’s Court has handed down a decision recognising and enforcing a civil judgment made by the Singapore High Court, based on the principle of reciprocity. The landmark development is the first time a Chinese court has recognised and enforced a Singapore commercial judgment, according to lawyers Baker & McKenzie.
NEW DELHI – With India’s 2017/18 Budget due to be handed down on Wednesday (February 1), ANZ Bank is tipping Finance Minister Arun Jaitley to set a fiscal deficit target of 3.3% and is maintaining its 2017/18 financial year GDP forecast of 8% growth.
TAIPEI - S&P Global Ratings has raised its long-term issuer credit rating on Taiwan Business Bank (TBB) to 'BBB+' from 'BBB', and says the outlook is stable.