Tuesday, May 26 2020 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
HANOI - Vietnam's Ministry of Finance (MOF) is to develop a legal framework for cross-border e-commerce in customs operations, with the Ministry releasing a draft decree.
HONG KONG - The longer Hong Kong's political crisis remains unsolved, the more adverse its effect -- and the grip of such turbulence could spill over to mainland China, at least in the sectors which are heavily dependent on Hong Kong as a source of capital, says the French banking group Natixis in a new research note.
HONG KONG -- Faltering global profit growth threatens an earnings recession, which in turn points to weakening economies and potential spikes in global default rates among weaker credits, S&P Global Ratings said in a report released today.
SINGAPORE -- Asia-Pacific's economic slowdown shows no sign of letting up, but policymakers in many countries are now easing in response, according to a report published today tby S&P Global Ratings.
BANGKOK -- Thailand's headline inflation slowed further to 0.32% y/y in September, marking the fourth straight month it has come in below the Bank of Thailand's (BoT) target band of 1-4%. The slowdown was led by a sharper fall in energy prices, though core inflation also eased.
JAKARTA - Indonesia's headline inflation eased to 3.39% y/y in September, following two straight months of acceleration. A pullback in volatile food inflation more than offset a pick-up in administered prices and core inflation.
SINGAPORE - How the gap in economic performance between the US and the rest of the world resolves itself is likely to be the defining feature of the remainder of 2019, according to ANZ Bank in its ANZ Research Quarterly.
HONG KONG - The ongoing trade dispute between the mainland and the US has pushed more Hong Kong traders to diversify their manufacturing and sourcing activities to other countries.
HONG KONG - As the trade dispute between the United States and Mainland China continues and the world economy beings to slow, the Hong Kong Trade Development Council (HKTDC) has made a further downward revision to its forecast for Hong Kong's export performance in 2019, saying the city's exports will decline 4% by value this year.
HONG KONG - Since China's President, Xi Jinping, announced the Belt and Road Initiative (BRI) in late 2013, China has invested generously in enhancing connectivity among neighbouring countries. But Xi's grand plan for China's global expansion has elicited strong reaction from the rest of the world, says Nataxis in a research note.
SHANGHAI - Australian-based global investment manager, QIC, in partnership with Ping An Asset Management Company (PAAMC), today announced official approval of the QIC Ping An China Corporate Bond Fund (the Fund).
SYDNEY - South Korean carmaker Hyundai is investing $6.2m in car-sharing platform Car Next Door, taking its total injection in the last 12 months to more than $8 million - and marking what is believed to be the biggest investment from an automotive manufacturer in an Australian service mobility player.
MELBOURNE - In common with other developed economies, challenges facing Hong Kong's healthcare system include a fast-ageing population and an exponential increase in demand for public healthcare services, Hong Kong's Secretary for Food and Health, Professor Sophia Chan, told healthcare professionals in Melbourne today.
BEIJING - China's State newsagency, Xinhua, is reporting that China and the Philippines have expressed their willingness to enhance co-operation through the Belt and Road Initiative (BRI) to better the bilateral relationship between the two countries.
CANBERRA - In an economic analysis published today, the CSIRO says high growth in demand for healthy and sustainable products could make Australia's food and agribusiness sector more valuable than mining.
BANGKOK - Thailand's Department of Intellectual Property, in collaboration with the Internal Security of Operations Command, the Royal Thai Army, Royal Thai Police, Customs Department, and Department of Special Investigation (DSI), have destroyed more than 10 million items valued at over US$18 million in a Destruction Ceremony in Bangkok.