Friday, October 18 2019 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
HANOI - The EU and Vietnam have signed the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) in Hanoi. They began negotiations on the EVFTA in 2012 and expect the EVFTA to enter into force before the end of 2019.
HONG KONG -- S&P Global Ratings today assigned its 'A' local currency long-term issuer credit and financial strength ratings to the Switzerland-based Korean Reinsurance Switzerland AG (KRSA), saying the ratings reflect its view that the company is integral for the group's strategy to expand its business in Europe.
HONG KONG - The French banking group Natixis says deglobalisation seems to be resolutely at work, with global exports recording three consecutive months of fall between December and February this year before an upturn in March. "The introduction of tariff barriers in 2018 and 2019 cannot explain this fall in exports, which is unprecedented since 2008, Natixis says.
BEIJING - Construction of the new Beijing Daxing International Airport was completed on Sunday, and preparations have started for the operation of what is expected to be one of the world's busiest air traffic hubs.
BEIJING - Chinese manufacturing contracted in June for the first time in four months as new orders decreased amid reports of trade tensions.
SINGAPORE - China is likely to tolerate greater renminbi flexibility if the currency faces depreciation pressures due to ongoing US-China trade tensions, S&P Global Ratings said today. The renminbi may face depreciation pressures for two reasons, S&P says.
SHANGHAI - Investors in China and Japan can now invest in each other's stock markets through cross-border exchange-traded funds (ETFs) listed on stock exchanges in both countries.
SHANGHAI - China Mobile has revealed details of its 5G ambitions, giving further shape to China's rapid transition to the next generation of mobile internet.
SINGAPORE -- S&P Global Ratings today assigned its 'B' long-term foreign currency rating to a proposed benchmark size U.S.-dollar-denominated senior unsecured notes to be issued by Sri Lanka (B/Stable/B).
BEIJING - China's Ministry of Civil Affairs has asked local authorities to act prudently in a campaign against improper geographic names, according to a report in Caixin, which said the statement came after recent reports on proposed name corrections of hotels and residential areas in several provinces.
SHANGHAI - Huawei has unveiled another homegrown smartphone chip, while under a US ban that limits its access to American component suppliers.
HONG KONG - A survey conducted by the Hong Kong Trade Development Council (HKTDC) shows that China mainland parents' now spend an average RMB2,596 yearly on toys, .with a frequency of purchase of 15.7 times in a year, suggesting that toys have become a consumer product bought on a regular basis.
HONG KONG - Global corporate capital expenditure growth is fading fast, says S&P Global Ratings, which is forecasting an increase of only 3% in 2019. This follows a mere 2% growth in last year's annual survey, and will offer little help in sustaining the current economic cycle, S&P says.
HONG KONG - A mid-year export review by the Hong Kong Trade Development Council shows that escalating trade tensions are undermining growth prospects. "Escalating trade tensions and heightened geo-political uncertainties have severely decelerated Hong Kong's export growth momentum, increasing the urgency for local businesses to further diversify their operations and open up new markets," the report says.
SINGAPORE -- Singapore companies may be in for a run of financial distress, according to an S&P Global Ratings, which says a survey of 375 listed companies in Singapore found one-third had weak credit metrics, with interest coverage below 2x in the past 12 months.
SHANGHAI - Britain could start exporting beef to China again later this year, both nations have confirmed, bringing to an end a 23-year import ban imposed during the mad cow disease epidemic in the 1990s, the China Daily reports.