Saturday, May 25 2019 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
BEIJING - A report published by the Beijing-based Caixin media group says China will combine the management of two funds linked to the country's foreign exchange regulator that specialise in investment in Africa and Latin America, to better meet the needs of Chinese companies.
SINGAPORE -- Revenue growth at Indian companies that S&P Global Ratings rates is likely to slow down over the next 12-24 months, according to a report published today by S&P Global.
HONG KONG - The Chinese Government has repeatedly said it would support economic growth through fiscal policy, and ANZ Bank believes such policy measures could take the form of value-added tax (VAT) cuts and bond-financed infrastructure spending.
BANGKOK - Thailand's growth picked up in Q4, with most indicators showing improvement. It was notable, however, that Q3 growth figures were revised downwards.
SEOUL - South Korea's President, Moon Jae-in, believes the second summit between North Korea and the United States, scheduled for February 27-28 in Hanoi, will serve as "a historic turning point" in transforming the Korean Peninsula into "a land of peace and prosperity".
KUALA LUMPUR - Malaysia's GDP growth picked up to 4.7% y/y in Q4 from 4.4% y/y in Q3, bringing full-year 2018 growth to 4.7%.
NEW DELHI - Prime Minister Narendra Modi says India is on the way to becoming the fifth largest economy in the world.
TAIPEI - Taiwan has maintained its global leadership in integrated circuit 200mm-equivalent wafer fab capacity for a fourth consecutive year, according to U.S.-based IC Insights Inc.
HO CHI MINH CITY - Vietnam's economy had a good start to the new year as positive data continued to show up in key sectors. Manufacturing continued to expand, though at a slower pace, with the January PMI reading at 51.9 (compared to 53.8 in December). It marked the 38th successive month of expansion.
HONG KONG - The French banking group, Natixis, is tipping major dollar weakness in the future. The fundamental cause of that projected weakness is that central banks are no longer financing the US external debt, it says.
SINGAPORE - An ANZ Bank research report says portfolio flows into Asia ex-China turned positive at the start of the year. However, most buying was concentrated in equities. India was the only exception, recording equity outflows in the month.
SINGAPORE - Stable demand and continuity in regulatory frameworks should underpin the credit profiles of Asia-Pacific utility companies in 2019, but heavy capital expenditure and high leverage will limit any improvement in credit metrics, says S&P Global Ratings in a report published today.
SINGAPORE - Banking systems in emerging markets will face some key common risks in 2019 amid gradually slowing global growth and more expensive global liquidity, says S&P Global Ratings in a report released today.
HANGZHOU - Alipay has released preliminary statistics on Chinese consumers' mobile payment behaviour during China's week-long Lunar New Year celebrations ending February 10. The findings, drawn from more than 40 markets where Alipay is accepted, provide a snapshot of the proliferation of mobile payment in China's vibrant outbound tourism market.
GENEVA - Full-year 2018 data for global air freight markets released by IATA show that demand measured in freight tonne km (FTKs) grew by 3.5% compared to 2017. Growth in 2017 was extraordinary, at 9.7%.
NEW DELHI - The Reserve Bank of India (RBI) cut its policy repo rate by 25 basis points to 6.25% today, and simultaneously changed its stance to neutral from 'calibrated tightening'. Both decisions were in line with ANZ Bank forecastsour forecasts.