Friday, September 21 2018 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
TAIPEI - A draft economic Immigration Bill aimed at boosting recruitment and retention of foreign talent has been unveiled by Taiwan’s Cabinet. The proposed legislation relaxes work visa and residency requirements for skilled professionals, mid-level technicians, investors and overseas citizens and their children to help trengthen industrial development and tackle challenges related to Taiwan’s low birthrate.
SYDNEY - Cross-border online shopping spending in China has exceeded US$100 billion, almost eight times larger than Australia’s total online shopping market, according to new research by Frost & Sullivan, in conjunction with the Chinese retail strategy firm Azoya Consulting.
WASHINGTON - With economic reforms adopted in the last few years starting to bear fruit, India is poised to remain the fastest growing large economy in the world, and its GDP is expected to reach US$5 trillion by 2025, a top Indian official has told the World Bank.
TOKYO - The China-Japan Treaty of Peace and Friendship, which includes Japan's self-reflection on aggression against China and its one-China stance, is one of the four political documents both countries should fully comply with to bring bilateral ties back to the right track, Premier Li Keqiang said yesterday.
HANOI - Vietnam is continuing to witness robust expansion of its manufacturing and retail sectors, coupled with a substantial trade surplus and steady FDI disbursement, according to the monthly update from Vietnam Asset Management (VAM). It says Vietnam’s macro-economic data continued to show encouraging results in April, with the manufacturing and retail sectors remaining major growth engines.
TAIPEI - Taiwan’s bid for World Health Assembly (WHA) observer status hase won public backing from both the United States and the European Union.
TOKYO - China’s Premier, Li Keqiang, says China, Japan and the Republic of Korea should accelerate negotiations to establish a free trade area and reach agreements on the Regional Comprehensive Economic Partnership as soon as possible to achieve regional integration.
KUALA LUMPUR - Bank Negara Malaysia (BNM) has maintained its overnight policy rate (OPR) at 3.25%. The policy statement reiterates a positive outlook on global growth and trade.
HONG KONG – In a comment on Mahathir’s victory in Malaysia’s election, Alicia Garcia Herrero, Chief Economist Asia-Paific of the French banking group Natixis, says the win has been read with suspicion by many analysts. “My take on it is positive,” she says.
BEJING – China’s State newsagency, Xinhua, has reported North Korean leader Kim Jong Un as saying comrade-like trust and friendship between the elder generations of leaders of the two parties and countries forms the close bond and solid foundation for the traditional friendship between the DPRK and China.
MANILA – International Container Terminal Services, Inc. (ICTSI), the Philippines-headquartered global developer, manager and operator of container terminals across six continents, has reported a 9% increase to US$325.4 million in revenue from port operations for the quarter ended March 31.
BEIJING - The Communist Party of China (CPC) Central Committee on Monday announced a plan to "fully incorporate core socialist values in legislation" in the next five to 10 years. The legislation, revision, abolishment, and explanation of laws should embody core socialist values, according to the document, the State newsagency Xinhua reported.
SHANGHAI - Freight forwarder C.H. Robinson today launch its trans-Eurasian rail freight service between China and Europe. The new service offering connects nine origin terminals in China with eight destination cities in Europe.
HONG KONG - Hong Kong Exchanges and Clearing Limited (HKEX) plans to introduce MSCI All Country (AC) Asia ex Japan Net Total Return Index (MSCI AxJ) Futures, the first regional stock index futures contract for HKEX, from June 11, pending regulatory approval.
JAKARTA - At 5.06% year-on-year, Indonesia’s GDP growth came in lower than expected. Gross fixed investment provided an expected boost to overall growth, rising 7.95% y/y from 7.27% in Q4, but total private consumption (which includes non-profit institutions serving households) posted another quarter of lacklustre growth at 5.01% y/y, broadly unchanged from the previous quarter.
SYDNEY – A delegation led by the Assistant Principal Immigration Officer of the Hong Kong Immigration Department, Choi Chi-yuen, has met university students, professionals and second-generation members of emigrated Hong Kong residents in Australia and New Zealand to detail various talent admission schemes on offer in Hong Kong.