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Reduced liquidity uncovers excessive corporate leverage at largest Filipino companies

August 13, 2018

MANILA - Beyond worsening economic fundamentals in the Philippines, the financial health of the Philippines’ firms has worsened, says Natixis in a research note. It has not been a good year for the Philippines, the French banking group says, pointing to a weaker peso, underperforming equities pushed by a vanishing current account surplus and a potentially larger fiscal deficit.

Air freight growth slowdown continued in June, Asia market dips

August 9, 2018

GENEVA – The International Air Transport Association (IATA) has released data for global air freight markets showing that demand, measured in freight tonne kilometres (FTKs), rose 2.7% in June 2018, compared to the same period the year before. This continues the slowdown in air cargo growth that began earlier in 2018. Growth for the first half of 2018 stands at 4.7%, less than half the growth rate in 2017.

China abolishes employment permit requirements for HK, Macao, Taiwan residents

August 10, 2018

HONG KONG – China’s State Council has released a circular announcing that residents from Hong Kong, Macao and Taiwan (HMT residents) no longer need to obtain an employment permit to work in mainland China. The announcement instructs the Ministry of Human Resources and Social Security (HRSS), to formulate substitute policies and measures to supervise the employment of these HMT residents.

Consumption lifted Indonesia Q2 GDP, but investment slowed: Natixis

August 7, 2018

JAKARTA - The Indonesian economy accelerated to 5.3%YoY in Q2 2018 thanks to robust private consumption and government expenditure, which expanded 5.1%YoY and 5.3%YoY, respectively. This is the first significant pickup since 2013, but investment decelerated to 5.9%YoY in Q2 from 8%YoY in Q1 2018, suggesting that the V-shaped recovery remains elusive.

Trade war may affect China’s exports more than imports from US, says ANZ Bank

August 8, 2018

HONG KONG - China-US trade tariffs seem to have had more impact on China’s exports than its imports from the US, according to research conducted by ANZ Bank. July marks the first month since China and the US started to impose additional 25% tariffs on each other’s products worth US$34 billion (from July 6).