Tuesday, May 24 2022 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
GENEVA - Taiwan's Minister for Health and Welfare, Dr Shih-Chung Chen, has detailed Taiwan's successful strategy to contain the COVID-19 pandemic as he leads efforts to win observer status for Taiwan at the 75th annual meeting of the World Health Assembly (WHA) in Geneva.
NEW DELHI --At 7.8% y/y, April CPI inflation in India soared to its highest since mid-2014 -- with price pressures strengthening across food, fuel, and core items.
WASHINGTON -- U.S. President Joe Biden on Friday (May 13) signed a Bill into law to help Taiwan regain observer status at the World Health Assembly (WHA).
HONG KONG - The global financial services group, Natixis, is predicting just 1% growth for Hong Kong in calendar 2022. With surging COVID cases, Hong Kong's economy fell 4% YoY in Q1 2022, with pressure mounting across consumption, investment and foreign trade as COVID cases held up.
SYDNEY - Hong Kong's Secretary for Food and Health, Professor Sophia Chan, is promoting a new pathway to medical students and practitioners in Australia for admission as qualified non-locally trained doctors able to practise in Hong Kong.
CANBERRA -- The gross value of Australia's agricultural production is forecast to reach a record A$78 billion in 2021-22, according to Federal Government estimates.
JAKARTA - The CIMIC Group company, Leighton Asia, has been selected to construct a data centre campus in Jakarta for a multinational technology corporation. The contract will generate revenue of approximately A$103 million1 for Leighton Asia.
TAIPEI -- Taiwan and Canada are set to start exploratory talks on a bilateral foreign investment promotion and protection agreement, following a virtual meeting between Taiwan's Minister without Portfolio, John C. C. Deng, and Canada's Minister of International Trade, Export Promotion, Small Business and Economic Development, Mary Ng.
HONG KONG -- Hong Kong's Independent Commission Against Corruption (ICAC) has issued a reminder to the insurance sector to remain vigilant in upholding a high integrity standard and to take a proactive stance against corruption.
HONG KONG -- Online polls conducted during the annual Asian Financial Forum (AFF) in Hong Kong found that 43% of respondents were optimistic about the outlook for the global economy in 2022 - a significant increase from 32% in the poll at AFF 2021 - while 33% of respondents had a neutral view and 24% expressed pessimism. The results indicated a generally more positive sentiment towards economic prospects in 2022.
SINGAPORE -- S&P Global Ratings has lowered its long-term sovereign credit rating on Sri Lanka to 'CCC', from 'CCC+' previously, and says the outlook is negative. At the same time, it affirmed its 'C' short-term credit rating.
LONDON -- As the world enters a new phase in the global COVID-19 pandemic, the majority of CEOs are ready to accelerate plans for investment and mergers and acquisitions (M&A) in their pursuit for growth.
SEOUL-- In a rare back-to-back move, the Bank of Korea (BoK) on January 14 lifted its policy rate by 25bps, bringing it back to the pre-pandemic level of 1.25% amid growing concerns about inflation.
TAIPEI -- The government is committed to making Taiwan an integral part of global supply chains, cementing the country's position in the world economy, according to Vice President Lai Ching-te.
SINGAPORE -- China's economic weakness (Q4 2021 GDP: 4.0% y/y) will likely continue in Q1 this year due largely to ongoing virus containment measures, according to ANZ Bank.
NEW DELHI -- India is likely to overtake Japan as Asia's second-largest economy by 2030 when its GDP is also projected to surpass that of Germany and the U.K. to rank as the world's No.3, according to a report released by IHS Markit.