ATI Newswire - Subscriber Only

Taiwan’s growth momentum remains positive, but ANZ trims GDP outlook

May 7, 2014

TAIPEI - Taiwan’s export growth rose 6.2% y/y in April, compared with 2.0% in March, and beat market expectations of 5.5%. Electronics remained the key driver for exports as the shipments increased 14.7% y/y. Chemical and plastic products also saw strong growth of 11.9% and 9.3% respectively. The widened trade balance was also consistent with the currency strength we observed last month.

Xi told that China must understand desires of Taiwan's people

May 7, 2014

~BEIJING – One of Taiwan’s most experienced politicians, James Soong, who is  now Chairman of Taiwan's People First Party, has urged Chinese President Xi Jinping to understand the desire of the Taiwan people to be masters of their own fate. During a meeting with Xi at the Great Hall of the People, Soong said Taiwan has recently undergone changes that Beijing must understand when engaging with Taipei, including the rise of a more autonomous civic consciousness.

Lower headline GDP masks firmer domestic demand in Indonesia

May 5, 2014

JAKARTA - Indonesia’s Q1 GDP came in below expectations, at 5.21% year-on-yeaar compared with 5.72% in Q4 2013, but ANZ Bank points out that the moderation in growth was led by the external sector and Government spending. “Private consumption expenditure and investment growth picked up in Q1 2014, despite election uncertainty and lagged monetary tightening effects (higher borrowing costs),” ANZ says.

Oversight of GMO crop samples to be strengthened in China

May 6, 2014

BEIJING - Genetically modified organism (GMO) research groups in China will strengthen supervision of GMO samples following an alleged case of theft at a research base in Hainan province. A notice from the Ministry of Agriculture said stealing the country's GMO technology and seed samples could cause irreparable damage, and that research organisations must pay close attention to this threat.

Australian farmers applaud success of fresh milk export trial to China

May 1, 2014

BRISBANE - The Queensland Dairyfarmers’ Organisation (QDO) has welcomed an initiative by farmer-owned co-operative Norco which slashes the time taken to land fresh milk in China from between 14 and 21 days (which consumed most of the milk’s effective shelf life) down to as little as seven days. Processor Norco is working in conjunction with industry group Dairy Connect NSW, and international exporting company PGS on the project.

Philippines global operator wins $550 million port tender in Melbourne

May 2, 2014

MANILA – Philippines-headquartered International Container Terminal Services, Inc. (ICTSI) and Anglo Ports, through its Australian subsidiary, Victoria International Container Terminal Limited (VICTL), have won a tender with Port of Melbourne Corporation for the design, construction, commissioning, operation, maintenance and financing of the Port’s new international container terminal and empty container park at Webb Dock.

CEO Impersonation - widespread fraud targetting multinationals

April 30, 2014

HONG KONG – International lawyers Baker & McKenzie have issued a Client Alert after representing a number of clients who have fallen victim to similar but unrelated scams targeting multinational companies with subsidiaries around the globe. “The patterns are so strikingly similar that we are issuing this Global Alert to minimise the risk of other clients falling prey to this fraud,” B&M says. 

Taiwan Government has not abandoned nuclear energy, says Premier

April 28, 2014

TAIPEI - The Administration's decision to "mothball" Taiwan's fourth nuclear power plant is neither a u-turn of Government policy nor an exclusion of nuclear energy, Premier Jiang Yi-huah said, drawing a distinction between stopping work on the project, which is the Administration's policy, and scrapping the project altogether, as demanded by anti-nuclear groups and the main Opposition Democratic Progressive Party (DPP).

China Securities regulator to restart reviews of IPO applicants

April 28, 2014

SHANGHAI - The China Securities Regulatory Commission (CSRC) has announced it will resume reviewing IPO applications after a moratorium – an announcement that caused the Shanghai Composite Index to fall 1.6%, its largest fall since March 10, due to investors’ fears that new IPOs will dilute the market by redirecting investor attention and money away from existing listed companies.

Overcapacity, slowdown bring steel industry losses in China

April 28, 2014

BEIJING - More than 45% China’s of domestic steel companies have reported losses as growth hits an 18-month low of 7.4%. Total losses stood at RMB2.33 billion against almost RMB8 billion in profits in the same period last year, according to the China Iron and Steel Association (CISA). At the end of March, inventories amounted to 19.4 million tons, up 43.5% on the start of the year.

Taiwan Government halts fourth nuclear plant construction after public protests

April 27, 2014

TAIPEI - The Administration of President Ma Ying-jeou and the ruling Kuomintang (KMT) agreed Sunday to halt construction of Taiwan’s controversial fourth nuclear power plant with immediate effect.
Construction of the plant's nearly completed no. 1 and no. 2 reactors will be halted. The no. 1 reactor, which is currently undergoing safety inspections, will not be brought online once inspections are complete, said Fan Chiang Tai-chi, head of the KMT's Culture and Communication Committee.