GENEVA – The International Air Transport Association (IATA) has released demand growth results for global air freight markets for February 2017 showing an 8.4% increase in demand measured in freight tonne kilometres (FTKs) compared to the same period last year. After adjusting for the impact of the leap year in 2016, demand increased by 12% -- almost four times better than the five-year average rate of 3.0%.
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BEIJING – China’s State newsagency, Xinhua, has reported President Xi Jinping as saying the Central Government is determined to stick to the principles of “one country, two systems”, “Hong Kong people governing Hong Kong” and a high degree of autonomy for the southern city. That determination would not change or waver, he said.
~~BANGKOK - Despite a sluggish domestic economy, the Thai baht has outperformed its regional peers, with THB strength stemming from Thailand’s rising current account surplus, ANZ Bank reports in a research note.
BEIJING - President Xi Jinping and U.S. President Donald Trump agreed to a new framework for bi-lateral economic and security talks during their two-day meeting in Florida, despite Trump’s tough talk during his election campaign, the Beijing-based Caixin news network reported.
HONG KONG - A survey on corporate credit risk management by global credit insurer, Coface, to which 1,017 Chinese companies responded, reveals that corporate payments improved in 2016, with only 68% of respondent companies experiencing overdue payments in 2016 (compared to the previous 5-year average of 80%) and fewer respondents reporting an increase in overdue amounts.
HONG KONG - The dark cloud over the PBoC is that The massive injection of liquidity is feeding the further expansion of shadow banking in China, casting a dark cloud over the People’s Bank of China, says global asset manager Natixis. “(It) spikes concerns of contagion risk and, ultimately, financial stability,” Natixis says.
HONG KONG - CIMIC Group company, Leighton Asia, has been selected by the Airport Authority of Hong Kong to deliver the Terminal 1 (T1) Annex Building and Carpark 4 Expansion Project at Hong Kong International Airport (HKIA).
SINGAPORE - The Parliament of Singapore has passed changes to the Computer Misuse and Cybersecurity Act (CMCA)m with the Parliamentary debates on the amendment Bill shedding further light on Singapore's legislative framework for combatting cybercrime.
HONG KONG - China’s has announced the establishment of a new economic zone 100 km south of the capital, Beijing. The Xiongan New Area will encompass three counties, Xiongxian, Rongcheng and Anxin, sitting at the centre of a triangle formed by the capital, Beijing; one of North China’s busiest port cities, Tianjin; and the capital of Hebei province, Shijiazhuang.
SINGAPORE - While Asia-Pacific economies have started 2017 on a solid note, a number of significant political developments in the region's Big Three economies will shape the baseline and risk scenarios this year and beyond, says ratings agency Standard and Poor’s, pointing to China's National People's Congress in mid-March, the Japanese Prime Minister's nomination to a third term as party head, and Prime Minister Modi’s victory in a key State election.
HONG KONG - China’s macro economy remained resilient in February after a strong start of 2017. Specifically, the Caixin manufacturing PMI expanded at almost its fastest rate in four years. Other business indicators and external indicators also climbed significantly.
BEIJING - China is stepping up financial support for the manufacturing sector as it encourages companies to upgrade their technology and tries to channel more funding away from speculative activities into the real economy.
BEIJING - A large-scale, independent survey from the Cheung Kong Graduate School of Business (CKGSB) in Beijing has shed new light on the current state of the Chinese economy. The most prominent change revealed in the survey of some 2,000 companies in China's industrial sector was a significant rise in product prices in Q4 2016, with production costs seen as the main driving factor.
MUMBAI – A group of scientists at the Bhabba Atomic Research Centre have developed a 12-channel ECG (electrocardiogram) machine which is the smallest of its kind and offers a low-cost, affordable health solution for the rural masses of India.
BEIJING - A five-year investment frenzy that saw billions of dollars flow between China and Los Angeles has hit a sudden rough patch, with derailment of three major cross-border tie-ups over the last month. Two of these are seeing Chinese investors get cold feet over billion-dollar Hollywood-production tie-ups.
SHANGHAI - Profits at China’s major industrial companies rallied in the first two months of this year to pass the RMB 1 trillion (USD145 billion) mark for the first time on rising commodity prices. Industrial profits surged 31.5% on-year in January and February combined — the fastest pace in nearly six years — to RMB 1.02 trillion, the National Bureau of Statistics said.