Saturday, May 4 2024 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
TAIPEI - Taiwan's top 50 corporates face weakening profitability and cash flow protection in 2016. But most have sufficient financial buffers to protect their credit quality, given their generally high cash balances - and ample liquidity in Taiwan's banking sector, according to a series of articles published by Taiwan Ratings Corp., the Taipei-based subsidiary of S&P Global Ratings.
HONG KONG – China’s PMI readings for August came in mixed. In a research note, HSBC says the official manufacturing gauge, which surprised on the upside, suggests that domestic demand continues to benefit from fiscal stimulus.
HONG KONG – China’s latest official manufacturing PMI (for August) has eclipsed its Caixin counterpart (50.4 versus 50.0), suggesting the whole sector stabilised to some extent last month. “But what catches our eyeballs is the fact that the figure for high-technology manufacturing PMIs came in at 52.6, a number which comfortably outran the official headline number,” says French banking group Natixis.
GENEVA - The International Chamber of Commerce has put forward a set of business recommendations to help leaders of the world's major economies prepare for discussions on the world’s most pressing economic policy challenges at next month's G20 Summit in Hangzhou, China.
TAIPEI – Taiwan must adopt more aggressive measures to address a decline in domestic investment in recent years, according to Premier Lin Chuan, outlining plans to attract additional private capital for public works projects and State-run enterprises.
BEIJING - China’s private health insurance market will grow fivefold to RMB1.1 trillion (US$167 billion) by 2020, a report by Boston Consulting Group and Munich Re suggests, as the nation’s emerging middle class supplies it with fast-growing demand.
MELBOURNE - A recent case heard by the Federal Court of Australia could have major trademark implications for foreign companies selling into Australia, according to Trademark law expert Ben Hamilton, a partner with Hall & Wilcox Lawyers.
The case, Playgro vs Playgo saw an Australian company take successful action for trademark infringements against a Chinese manufacturer.
SHANGHAI - Lingang New City, a port area in Shanghai, is to become an advanced industries hub and bustling coastal area by 2020 with sponsorship of more than RMB18 billion (US$2.7 billion), the City Government announced yesterday. The Government is setting up several industry funds to support development of key industries, aiming to pump RMB10 billion into the integrated circuit equipment industry, RMB5 billion into intelligent manufacturing, RMB2 billion to back up the marine industry, and RMB1 billion in start-ups, the Shanghai Daily reported.
BEIJING - China's full-year exports are likely to see a bigger drop than last year as downward economic pressures remain in place, according to a senior analyst at a Government think tank. Long Guoqiang, Deputy Director of the Development Research Centre of China’s State Council,indicated that traditional advantages such as relatively low-cost labour-intensive manufacturing industries were losing traction in a weaker global economy, while emerging advantages from expansion of the country's high-tech sector are still evolving.
NEW DELHI - The appointment of Urjit Patel as the next governor OF THE Reserve Bank of India will ensure policy continuity, ANZ Bank says in a research note. Patel’s appointment has been welcomed by experts and the market alike.
HONG KONG - S&P Global Ratings has affirmed its 'AAA' long-term and 'A-1+'
short-term issuer credit ratings on Hong Kong, but says the rating outlook remains negative. Hong Kong’s rating is three notches higher than China.
HONG KONG - China is rapidly opening up its capital account to the rest of the world, or so it appears based on the announcement of the Shenzhen-Hong Kong (HK) Stock Connect, says Natixis, the French corporate and investment bank. “What is clear is that the combined market cap of Shanghai and Shenzhen will make (the market) the second largest in the world, above Japan’s.” Natixis says.
SINGAPORE - S&P Global has published an in-depth look into negative interest rates – how they have become a primary tool of choice for central banks and governments to stimulate economies where growth seems largely immune to the efforts of traditional fiscal and monetary initiatives and the potential consequences of their ubiquitous arrival.
MANILA - Q2 GDP growth in the Philippines has surprised on the upside, with above-trend growth in consumption, aided by election-related spending, propping up overall growth. While the outlook on goods trade is still weak, the continued strength in services exports has led to a narrow surplus in services net balance.
TAIPEI - Guidelines for Taiwan’s New Southbound Policy have been approved during a meeting on foreign trade strategy convened by President Tsai Ing-wen. The guidelines set out a path for Taiwan to forge closer ties with countries in South and Southeast Asia, as well as Oceania.
BEIJING - China plans to increase spending on research and development to 2.5% of its gross domestic product by 2020 in a bid to foster innovation crucial for growth, a Central Government blueprint shows.