Saturday, May 4 2024 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
SYDNEY - Coal has been one of the most exciting commodities to watch in recent months, with thermal coal prices rising by a sharp 40% in the past three months alone, says HSBC econbomist Paul Bloxham. Coking coal prices are up almost 130%.
BEIJING - The world’s largest radio telescope – billed as an initiative that will help humanity search for alien life - began operating in southwestern China on Monday.
HONG KONG – A study of Asia-Pacific services trade data shows that services are now an essential complement to goods trade development, and therefore a necessary part of the macro and credit analysis toolkit, says ratings agency Standard and Poor’s.
SEOUL - Korea is to expand co-operation overseas in the construction of smart cities, which it has identified as a promising export sector for the future.
HONG KONG – It has been over two months since The Hague ruled that China does not have historic rights to the South China Sea, and tensions will continue to escalate further before a bilateral agreement is met as other players step into the scene, says an analysis by BBVA Bank. “Upside risks remain, particularly in neighbouring countries,” it says.
JAKARTA - DHL Express has opened a EUR2 million Jakarta Gateway 530 at Soekarno-Hatta International Airport to better support businesses operating in and out of Indonesia. It augments an existing Jakarta Gateway 510, which is operating at full capacity due to strong sustained volume growth.
BANGKOK - Suppliers in the ASEAN ports sector are riding a wave of opportunity as the industry upgrades to handle bigger ship sizes, according to a HKTDC research report, which says substantial investment is now being made in ports, transport infrastructure and logistics hubs across the region.
LONDON – The international oilfield services company, Expro, has been awarded a contract worth more than US$30 million with the Hindustan Oil Exploration Company (HOEC) for the Dirok gas field in India. It will provide the design, engineering, construction, transportation, installation and commissioning of a Modular Gas Processing Plant (MGPP) designed to process up to 35 mmscf of gas per day with associated liquid condensates.
SINGAPORE - About 10.5% of the US$10.3 trillion in corporate debt maturing globally from the second half of 2016 through 2021 is from the Asia-Pacific region, according to ratings agency Standard & Poor’s. Of the total, US$107.2 billion is scheduled to mature in the second half of 2016, peaking at US$237 billion in 2017 before annual maturities decline.
BEIJING - Two of China's largest stee makers have received regulatory approval to merge by the end of this month — part of Beijing's plan to cut overcapacity and nurture bigger, more-competitive industry leaders.
BEIJING – China’s State Council has released plans to transform Beijing into a national scientific and technological innovation hub, seeking to make Beijing a world leader in innovation, a growth pole for the economy, and a pool for talent.
SYDNEY - Australian companies need to change their mindset if they are to capitalise on the significant opportunities offered by the fast-growing ASEAN market, according to a new report from HSBC Australia and the Export Council of Australia.
SINGAPORE - Economic risks for Vietnam's banking sector are very high by global standards, as reflected in the country's lower-middle income and emerging institutional settings that hamper policy responsiveness, S&P Global Ratings said in its latest banking industry country risk assessment for Vietnam.
ADELAIDE - Following a $600 million per annum deal to sell and market Camperdown Dairy’s infant formula to China, Great Wall Capital Trading Limited has signed a multi-year agreement with the South Australia’s SAFCOL to become the exclusive exporter to China of SAFCOL’s premium brand of tinned and packaged seafood products.
BEIJING - Several of China’s major raw-milk producers reported losses in the first half of 2016 amid lukewarm demand and intense competition from foreign milk-powder suppliers. A Caixin report says China’s largest milk producer by output, China Modern Dairy Holdings Ltd., lost RMB566 million (US$ 84.7 million) in the first half, its first loss since it went public on the Hong Kong exchange in 2010.
PERTH - China’s unquenchable thirst for uranium is driving a renaissance of the market and is likely to pull the global U-sector out of its current doldrums and drive much-needed price increases, according to Bannerman Resources’ Managing Director and CEO, Brandon Munro.