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China turns its back on Apple over security concerns

August 7, 2014

BEIJING - Ten Apple products – including the iPad, iPad Mini, MacBook Air and MacBook Pro – are nowhere to be found on the latest Chinese Government procurement list distributed in July, according to Government officials with access to the list. While the products allegedly were on a June version of the list of items that can be purchased with public funds, rising concerns over claims of hacking and cyber spying have led to the Government turning away from U.S. technology companies.

New credit in China flows east – Jiangsu Province leads

July 31, 2014

BEIJING - Data released by the People’s Bank of China shows that more than half of China’s new credit for the first half of 2014 flowed to eastern coastal areas such as Beijing, Shanghai and Guangdong. Ten-provincial-level regions along and near China’s eastern seaboard borrowed a reported RMB5.19 trillion (USD843 billion), or 51.7% of the half’s RMB10.57 trillion in total aggregate financing.

China property companies eyeing Australia, Korea for casino projects

July 28, 2014

BEIJING – Facing a sluggish domestic property market, Chinese real estate companies are looking abroad for the possibility of participating in overseas casino projects. A report released by Morning Whistle Group, a Shanghai-based internet platform that helps Chinese capital conduct cross-border investment and overseas M&A, says the new two most popular destinations are South Korea’s Jeju Island and Queensland, Australia.

Japanese corporates face bumpy ride in SE Asia infrastructure projects, warns S&P

July 28, 2014

TOKYO –A confluence of Southeast Asia’s need for new investment in infrastructure and Japanese Government efforts to crank up Japan’s economy is encouraging Japanese companies to pursue infrastructure projects in the region – but there are challenges ahead, says ratings agency Standard & Poor's in a new report.

ICTSI loan facility structure, a first for Asian corporates, oversubscribed

July 24, 2014

MANILA – One of the Philippines largest global companies, International Container Terminal Services (ICTSI) has successfully closed an inaugural loan facility programme which is the first structure of its type established by an Asian corporate. Alongside the programme, ICTSI signed off a US$350 million syndicated revolving credit facility with a large group of international and domestic banks.

Taiwan Premier upbeat on Cross-Strait exchanges: Xi, Ma to meet at APEC?

July 25, 2014

TAIPEI - Taiwan is committed to working with mainland China and institutionalising exchanges and negotiations across the strait, Premier Jiang Yi-huah said in a BBC Chinese interview. Establishing reciprocal representative offices, fast-tracking negotiations on a trade in goods agreement and pushing for an unprecedented meeting between the leaders of Taiwan and mainland China are all on the agenda, he said.

EIU trims global growth forecast for 2014 to 2.5% as emerging markets struggle

July 25, 2014

LONDON – After arguing for many months that 2014 would be a transformative year for the global economy, The Economist Intelligence Unit has reduced its global growth forecast for 2014 to 2.5% in the face of political crises and contraction in the US economy in the first quarter. In its latest Global Outlook Report, the EIU says it is nevertheless still of the opinion that the US economy is performing well, Europe is mending and that Japan will benefit from a reform programme.

China’s debt goes above 250% of GDP: Standard Chartered

July 23, 2014

BEIJING - China’s total debt went to more than 250% of GDP at the end of June, up from 147% at the end of 2008, according to a new estimate from Standard Chartered Bank. By comparison, the US had a ratio of about 260% by the end of last year, while the UK was at 277%. Japan topped the world with a ratio at 415%, according to Standard Chartered calculations.

China to lend financing support to real economy, small businesses

July 23, 2014

BEIJING - At an executive meeting of China’s State Council, Premier Li Keqiang today vowed to alleviate financial burdens for the real economy while maintaining proper levels of credit growth. While the economy is not currently experiencing a credit crisis or low money supply, many enterprises still face challenges in accessing funds.

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