NEW DELHI – In its annual ranking of 190 countries for ease of doing business, the World Bank has lifted India 30 places from 130 to 100. It ranks fourth on the world listing for protection of minority shareholders.
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BEIJING - After less than a year in the job, China’s Finance Minister, Xiao Jie, has been appointed Deputy Secretary-General of the State Council — part of a broader leadership reshuffle following the key National Party Congress in October.
HONG KONG - The challenges faced by China’s Belt and Road initiative (OBOR) are significant, says BBVA Bank in a new research report. Excluding Singapore, nearly 54% of OBOR investments have flowed to countries with speculative grade sovereign rating, it says. “This raises implementation and credit risk concerns for Chinese stakeholders.
BEIJING - Chinese President Xi Jinping stressed China's commitment to developing and deepening relations with Russia during a meeting with Russian Prime Minister Dmitry Medvedev yesterday. Xi said China is ready to work with Russia to expand cooperation in various fields, maintain close coordination in international affairs and promote the building of a community of shared future, China’s State newsagency, Xinhua, reported.
NEW DELHI - India’s e-commerce development has lagged far behind that of China andr Southeast Asian countries like Singapore and Malaysia, but the gap has started to show signs of narrowing in the wake of pro growth economic policies adopted by the Modi Government. Swift e-commerce development in India is being facilitated by a phenomenal surge of internet usage, says a new research report from the Hong Kong Trade Development Council.
ISLAMABAD - S&P Global Ratings has affirmed its 'B' long-term and short-term sovereign credit ratings on Pakistan with the outlook for the long-term ratings stable.
HONG KONG - By 2021 the average Hong Kong citizen will hold more assets than an individual in Switzerland, according to the data and analytics company GlobalData, which says the value of liquid assets held by the global population will exceed US$100 trillion by the end of 2017, with frontier and emerging economies leading the way in terms of future growth.
BEIJING - The U.S. conclusion on anti-dumping of aluminum foil from China was "a serious distortion" of real situation, the Ministry of Commerce (MOC) said Tuesday, the Chinese State newsagency Xinhua reported. It said the MOC made the statement in response to a U.S. decision on China's status as a non-market economy country and launching of an anti-dumping investigation against aluminum foil imports from China under the "analogue country methodology".
BEIJING - China and South Korea have been maintaining communications on the Korean Peninsula nuclear issue through diplomatic channels, the Chinese Foreign Ministry said Tuesday. "Enhancing communication and co-operation is in accordance with the common interests of China and the ROK, a Ministry press release said. “Both sides agree to return communication and co-operation in various fields to the normal track as soon as possible."
SHANGHAI - China plans to introduce high-standard trade, financial, foreign currency and investment supervision systems as part of a free port within the Shanghai Pilot Free Trade Zone to further compete with other major shipping hubs such as Singapore and Hong Kong, the Ministry of Commerce said yesterday.
BEIJING - Russia is China's comprehensive strategic partner of coordination, and whatever volatile changes may take place in the international arena, China will not change its determination to deepen relations with Russia, Chinese President Xi Jinping said Thursday. China’s State newsagency, Xinhua, reported that Xi made the remarks during a phone conversation with Russian President Vladimir Putin.
SEOUL - Q3 GDP growth in South Korea picked up to 3.6% y/y (1.4% q/q sa) from 2.7% y/y previously. The expansion was broad-based across exports, private consumption and facilities investment.
HONG KONG – The Hong Kong Stock Exchange will introduce its cash-settled TSI Iron Ore Fines 62 per cent Fe CFR China Futures (Iron Ore Futures), its first ferrous metal product, on Monday, November 13.
MUMBAI - Tata Starbucks Private Limited, the 50/50 joint venture between Starbucks Coffee Company and Tata Global Beverages Limited, has celebrated the opening of its 100th store in India, located in Mumbai, and its five-year anniversary in India with a series of strategic initiatives reaffirming its long-term commitment to the market.
TOKYO – In a note on the implications of Prime Minister Abe’s re-election, the Chief Global Strategist of Nikko Asset Management, John Vail, along with NAM’s Chief Investment Officer – Japan, Hiroki Tsujimura, and Head of Japan Equity Fund Management, Jiro Nakano, say there is little doubt that Abe wants a rising stock market.
HONG KONG - Xi Jinping is the first incumbent Chinese president to resume the “core” position in the Communist Party and write his name into Constitution after Mao. Global asset manager Natixis argues that a Communist Party equipped with authoritarian power is a double-edged sword for the Chinese economy.