Sunday, June 25 2017 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
HONG KONG - Mongolia's public finances remain weak despite the announcement of a structural reform and funding programme with the IMF, says ratings agency Standard & Poor’s, which is affirming its ‘B-/B’rating on the country. S&P says fluctuations in global commodities markets continue to pressure
Mongolia's public finances and balance of payments.
MELBOURNE – The Australian Furniture Association (AFA) has signed an MoU with the Malaysian Furniture Council (MFC), the official representative body of Malaysian furniture industry.
PERTH – Dawine Listed, the ASX-listed wine distributor specialising in the China market, has signed an agreement with Tmall.com and WeChat store management provider Alea E-Commerce Co. Ltd (Alea), providing access to more than 400 million consumers in China. Dawine says the deal complements its own China portal.
BEIJING - Wealthy individuals who invested their savings with China Minsheng Bank have found themselves embroiled in an alleged RMB3 billion (US$436 million) fraud — the latest scandal to expose the lack of internal risk controls at financial institutions that could threaten confidence in the banking system, according to a Caixin report.
HONG KONG - ASEAN corporate health is sound thanks to low leverage and healthy revenue generation, despite heavy reliance on short-term funding and high interest rates, according to the latest Natixis ASEAN Corporate Monitor, which covers about 1,200 listed non-financial institutions in the region and compares them with a similar universe globally.
BEIJING – China’s Premier, Li Keqiang, has called for greater balance in foreign trade through both promoting exports and importing more high-quality goods. Li said China must expand exports as well as imports of high-tech products and other high-quality goods that give consumers more choice and stimulate domestic companies to produce better products and services.
NEW DELHI - India added 5,525MW of solar power generation capacity last fiscal year (2016/17), taking the total available to 12,288 MW. The country’s solar power potential which has been estimated at 748GW, according to New & Renewable Energy Minister Piyush Goyal.
NEW DELHI - India added 5,525MW of solar power generation capacity last fiscal year (2016/17), taking the total available to 12,288 MW. The country’s solar power potential which has been estimated at 748GW, according to New & Renewable Energy Minister Piyush Goyal.
GENEVA – In its latest quarterly Cargo Market Analysis, IATA says that notwithstanding an easing in the quarterly pace of growth over the past three months, year-on-year growth in air freight tonne kilometres (FTKs) has made a strong start to 2017.
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.
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.