ATI Newswire - Subscriber Only

Asia leads world in Could Readiness Index – HK in top position

April 4, 2016

SINGAPORE - Asian countries top the new Cloud Readiness Index (CRI) 2016 released by the Asia Cloud Computing Association (ACCA). The CRI places Hong Kong , Singapore , New Zealand and Australia above markets such as Germany, the UK and the US, showing that Asia economies are indeed leading the world in cThis is also the first time that the 14-market Asia Pacific-focussed study has included a sample of six non-Asian markets for comparative analysis

ADB cuts China growth forecast to 6.5% in 2016, 6.3% in 2017

March 30, 2016

BEIJING - Citing weak external demand and slowing investment, the Asian Development Bank has cut its forecast for China’s economic growth in 2016 to 6.5% due to “difficult trading conditions”, but says the impact could be mitigated by an increase in consumption and ongoing Government spending. In its Asian Development Outlook 2016, published on March 30, the bank predicts further slowing in 2017 to 6.3%.

S&P downgrades China outlook – says sovereign credit risks are increasing

March 31, 2016

HONG KONG – Despite saying it believes China’s reform agenda is on track following recent key legislative meetings, ratings agency Standard and Poor’s has downgraded its ratings outlook on China to negative from stable saying that economic rebalancing is likely to proceed more slowly than had been expected. Hong Kong’s ratings were also downgraded.

China imposing new tax rules on cross-border e-commerce

March 30, 2016

BEIJING - In a move that experts say will increase the cost of many items such as food, health care products and low-price cosmetics, China is set to roll out new tax rules on cross-border e-commerce. From April 8, buyers of all imported goods purchased online must pay most of a 17% value-added tax and a consumption tax, if applicable, according to a policy released by the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation.

Shanghai Government to cool housing market: 70% deposit on second ‘home’

March 26, 2016

SHANGHAI – The Municipal Government here is expected to unveil several tightening policies in a bid to cool the city’s overheated housing market because of concern that an increasing number of home seekers are unable to cope with rising prices. Possible measures may include a minimum 70% down payment for second-home buyers if the property is defined as a “non-normal” home, or a minimum 50% down payment for second-home buyers who buy “normal” houses, Caixin magazine reports on its website.

Chongqing, Zhoushan tipped as favourites for 3rd round of FTZ selection

March 26, 2016

BEIJING - Shipping experts are speculating that western metropolis Chongqing and the coastal city of Zhoushan in Zhejiang province are the most likely to be selected as new free trade zones (FTZs) in the third round of selection, as the Central Government devotes more resources to developing the Yangtze River Economic Belt within its 13th Five-Year Plan (2016-20).

Huiyuan Juice, Yeo Hiap Seng sign JV to enter juice market in Malaysia

March 23, 2016

KUALA LUMPUR - China Huiyuan Juice Group Limited, a leading vertically-integrated fruit and vegetable juice producer in China, is to establish a 50-50 joint venture in Malaysia with Malaysia’s Yeo Hiap Seng Limited to produce and distribute fruit and vegetable juice. The JV will begin operations in Malaysia with a view to expanding into other markets.

Moody’s downgrades outlook on HSBC, Hang Seng in China to negative

March 22, 2016

BEIJING - Moody’s Investors Service has downgraded its outlook on the ratings for HSBC Bank (China) Company Limited (HSBC China) and Hang Seng Bank (China) Limited (Hang Seng China) from “stable” to “negative”, a move shrugged off by China’s Finance Minister, Lou Jiwei. Moody’s Outlooks, which provide an opinion on likely rating directions over the medium term, are assigned only to a bank’s long-term deposit, issuer and senior unsecured debt ratings.

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