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Asia bracing for a slow, grinding recovery: BBVA

June 1, 2015

HONG KONG - GDP growth slowed across most Asian economies in Q1 2015 as a pullback in Government spending, subdued domestic demand and negative exports growth offset a gradually improving investment outlook. BBVA Bank says in a new report that  sluggish economic activity has prompted authorities to loosen monetary policy through May, with more easing measures in the pipeline.

China establishes world’s largest gold fund, eyes influence of RMB on gold pricing

May 26, 2015

SHANGHAI - The Shanghai Gold Exchange (SGE) has established the world’s largest gold fund in China’s northwest city of Xi’an, to involve countries along the ancient Silk Road, according to State-owned media sources in China. About 60 countries are invested in the fund, which will facilitate gold purchases by central banks of member States to increase their gold holdings.

Vale signs off 20-year deal on shipping ore from Brazil to China

May 20, 2015

BEIJING – One of the deals expedited by Chiense Premier Li’s visit to Brazil is between Brazilian miner Vale and China Cosco Holdings regarding transport of iron ore to China: Vale said in a statement that it had “completed the sale of four very large ore carriers to China Cosco Holdings for US$445 million and reached an agreement to sell another four to China Merchants Energy Shipping”.

Bankers, financiers watching as Thailand changes Foreign Business Act

May 18, 2015

BANGKOK - Under the Foreign Business Act, which regulates activities in which foreign companies may engage in Thailand, service businesses including commercial banking, representative offices of foreign banks, and life and non-life  insurance, are restricted businesses under Schedule III, in which foreign companies may engage only upon obtaining a foreign business license.

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