NEW DELHI - The Reserve Bank of India (RBI) has released the minutes of its Monetary Policy Committee (MPC) meeting held earlier this month. ANZ Bank says that, on aggregate, the minutes highlight a neutral-to-hawkish undertone.
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TAIPEI -- In confirming its 'AA-/A-1+' issuer credit ratings on Taiwan, Standard and Poor’s says it is balancing a robust net external asset position, strong monetary flexibility, and dynamic private sector companies against a moderate level of Government debt.
BEIJING - In the two months since the arrival of its new Chairman, China’s top banking regulator has been flexing its muscles in a regulatory upheaval aimed at sweeping out some long-standing problems in the industry.
WASHINGTON - The US Treasury has not labelled any country a currency manipulator in its latest semi-annual report. But despite China only meeting one of the three required criteria, it remains in the monitoring list alongside Japan, South Korea, Taiwan, Germany and Switzerland.
HONG KONG – ANZ Bank says the Chinese economy has returned to the investment driven growth model in recent months, with fixed asset investment (FAI) data soared 9.2% ytd y/y in March against market expectations of 8.8%. Of total FAI, 21% was derived from the property sector. “However, the headline GDP data still needs to be interpreted with caution,” says ANZ.
SHENZHEN -- ZTE Corporation, a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, has posted a 27.8% rise in first-quarter profit as the company increased sales of carrier network solutions and smartphones.
GURGAON - CIMIC Group Company, Leighton Asia, has been issued a Letter of Award by Vipul Limited to deliver phase one of the Vipul Aarohan Residences project in Gurgaon, India. The parties are to finalise the terms and execute the Alliance Agreement within 14 days.
CANBERRA - Tariffs under the Japan-Australia Economic Partnership Agreement (JAEPA) have been cut for the fourth time, eliminating tariffs on more than 3,400 Australian product lines since the Agreement entered into force in 2014.
HONG KONG – Hong Kong’s Market Misconduct Tribunal has fined Mayer Holdings Limited and nine of Mayer's current and former senior executives a total of HK$10.2 million for breaches of disclosure obligations under Hong Kong’s Securities and Futures Ordinance, and disqualified them from being directors or being involved in the management of a listed corporation for up to 20 months.
SYDNEY - Microsoft has chosen Sydney as the location for its new Asia Inside Sales Centre, the fourth to be opened by Microsoft globally – and first in Asia - with the company creating 120 new digital seller roles.
HYDERABAD - CIMIC Group company, Leighton Asia, has been selected by the IKEA Group to construct its first retail outlet in Hyderabad, India.
SEOUL – While the remarks of U.S. Vice President Mike Pence have been widely reported, those of his Korean hosts less so in foreign media. The South Korean Government online newsletter, Korea.net, reports the response to Pence from Acting President Hwang Kyo-Ahn, as follows:
HANOI - The Government of Vietnam has released its new official policy for the development of solar power projects in Vietnam. It is aimed at enabling the private sector to invest in clean energy sources that can help meet Vietnam’s surging demand for electricity, but lawyers Baker McKenzie warn that it leaves a number of issues unresolved, and these may have an impact on the bankability of solar projects, especially for large utility-scale solar power plants.
BEIJING - China's COSCO Shipping Lines on Sunday marked the opening of an additional regional service of container shipping connecting China with the ports of Northern Europe and the Mediterranean Sea.
MANILA - Container terminals managed and operated by International Container Terminal Services, Inc. (ICTSI) at Subic Bay Freeport will help facilitate increasing trade between Korea, Taiwan and the Philippines, with Evergreen Marine Corp. launching a new direct service at key ports of the three trading economies.
Evergreen, Taiwan’s largest shipping company, is launching its new Korea-Taiwan-Philippines (KTP) service in Subic, adding the ICTSI-operated New Container Terminals 1 and 2 to its port rotation.
BEIJING - High environmental standards will be set for the proposed Xiongan New Area, an economic zone near Beijing designed to integrate the capital with its surrounding areas. Key words in the building plans will be “international standards,” “Chinese characteristics,” “reform” and “innovation,” said He Lifeng, head of the National Development and Reform Commission, China’s top planning body.