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Mandatory COVID vaccinations in the workplace: current rules and employer risks in Asia-Pacific

December 30, 2021

SYDNEY -- The global law firm BakerMcKenzie has addressed the question of compulsory vaccination against COVID-19 in a special report authored by Michael Michalandos, the firm's Head of Employment and Compensation Group, Asia-Pacific. The report covers 11 countries across Asia-Pacific - Australia, China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam.

Evergrande crisis causing US$10 billion in pension, investor losses, says German researcher

November 18, 2021

BERLIN -- The Evergrande default and the China real estate crisis are currently causing around US$10 billion in losses at the 10 largest pension and investment funds specialising in Asia, with the largest Evergrande bond exposure of around US$1.2 billion, according to a new DMSA study just published.

Philippines economy steady, growth ahead

November 10, 2021

MANILA-- A heightened pandemic risk in the third quarter had little impact on Q3 GDP growth in the Philippines, but both household consumption and services activity strengthened, ANZ says in an economic note.

Vietnam’s economy returns to growth in October

November 9, 2021

HO CHI MINH CITY - ANZ Bank says its proprietary monthly activity tracker (AVAT) shows that Vietnam's economy expanded month-on-month in October, breaking a five-month long streak of declines.

Taichung City developing as smart machinery powerhouse

November 9, 2021

TAIWAN -- President Tsai Ing-wen has vowed to shape central Taiwan's Taichung City, in Central Taiwan into a world-class smart machinery powerhouse, underscoring the Government's commitment to cementing the country's position in global supply chains.

China's contagion risks over property are rising: S&P

November 10, 2021

HONG KONG -- S&P Global Ratings said today that contagion risks were rising in China's property market, driven by sentiment hits from news headlines of distressed developers, including China Evergrande, the country's largest.

Thiess wins three-year $220 million mining renewal in Indonesia

November 3, 2021

JAKARTA -- Thiess has secured a three-year $A220 million contract renewal to continue providing mining services at PT Wahana Baratama Mining's (Wahana) coal mine in South Kalimantan, Indonesia.

Delta hits third quarter but worst over for Indonesia: ANZ

November 5, 2021

JAKRATA -- Indonesia's economy lost momentum in Q3, reflecting the setback from the delta virus wave, particularly in the earlier half of the quarter. However, higher frequency data suggests that economic activity has started to recover following the easing of virus curbs in the latter part of Q3.

Taiwan in talks to deepen partnership with Europe

November 4, 2021

Taiwan was committed to deepening its partnership with Europe while safeguarding freedom and democracy for the people of both sides, President Tsai Ing-wen told a seven-member delegation of EP lawmakers led by Raphael Glucksmann of France, chair of the EP Special Committee on Foreign Interference in all Democratic Processes in the European Union, including Disinformation (INGE).

Alibaba eating into its large cash pie: S&P

November 22, 2021

HONG KONG -- S&P Global Ratings today said China's toughening operating environment is a modest credit negative for the country's largest e-retailer, Alibaba Group Holding Ltd. "We anticipate Alibaba's revenue growth will slow further over the next few quarters and its net cash position could shrink more than our earlier expectations." S&P said.

Airport Authority HK revised down to 'bbb' on protracted traffic recovery

November 22, 2021

HONG KONG -- The negative impact of the COVID-19 pandemic on passenger travel will likely weigh on Airport Authority Hong Kong's (AAHK) revenue and leverage over the next 12-24 months, according to ratings agency Standarfd and Poors. It says AAHK's passenger traffic recovery will lag behind global peers due to the HKSAR's sustained stringent quarantine measures and the absence of domestic flight operations.

HKTDC and Hang Seng Bank MOU to empower Hong Kong SMEs

November 24, 2021

HONG KONG - The Hong Kong Trade Development Council (HKTDC) and Hang Seng Bank will sign a Memorandum of Understanding (MoU) on December 1 seeking to co-create a one-stop platform to support innovation in Hong Kong.

RMIT joins Asia’s thriving tech scene

November 25, 2021

MELBOURNE - The Royal Melbourne Institute of Technology (RMIT) has signed a strategic partnership with Infinite Learning in Nongsa Digital Park, a high-profile tech hub supported by the Indonesian and Singapore Governments.

Bank of Korea lifts rates amid rising inflation concerns

November 25, 2021

SEOUL -- The Bank of Korea (BoK) on Thursday hiked its policy rate by 25 basis points to 1.00%, as widely expected. While it kept its growth forecasts for 2021 and 2022 unchanged, there was a notable upward revision to the bank's inflation forecasts.

US invites Taiwan to talkfest on democracy

November 26, 2021

TAIPEI - US President Joe Biden has issued an invitation to Taiwan to participate in the Summit for Democracy, a virtual event to take place on December 9 to 10. The event will brings together leaders of government, civil society and the private sector from more than 100 countries and territories to discuss issues such as resisting authoritarianism, fighting corruption and promoting human rights.

China well ahead in global EV battery market race

November 19, 2021

HONG KONG -- While Asia dominates car battery production, China dominates the supply chain in terms of EV battery components, according to the global financial group, Natixis. "Most EV battery components are currently produced by the three Asian battery powerhouses (China, South Korea and Japan), but China's leading role in the "underneath" components is more obvious than EV battery supply." Natixis says.

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