SHANGHAI – A Shanghai Daily report quotes sources familiar with the matter as saying advisers to China’s Sinopec have offered its oil assets in Argentina to about a dozen potential suitors as losses and labour headaches prompt Asia’s largest refiner to pull out.
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TAIPEI - In her National Day address, Taiwan’s President, Tsai Ing-wen, has elaborated on her Administration’s efforts to fulfil the Government’s commitments and to accelerate reform, safeguard Taiwan’s democracy and freedom, and “find Taiwan’s place in the new international order”.
BEIJING - The International Monetary Fund (IMF) has raised its forecast for China's economic growth in 2017 and 2018, citing a stronger-than-expected performance in the first half of the year and continuous policy support. In its latest World Economic Outlook, the IMF tips the Chinese economy to grow 6.8% this year and 6.5% next year, both 0.1% higher than July’s forecast.
HONG KONG – The global asset manager Natixis believes capitalism in OECD countries is looking for an abnormally high return on capital (return on equity) relative to the level of interest rates. In principle, and that this may have four consequences:
GENEVA – Data for global air freight markets released by IATA shows that demand, measured in freight tonne kilometres (FTKs), increased by 12.1% in August 2017, compared to the same period a year ago. This was the fifth time in six months of double-digit gains on the previous year’s performance.
HONG KONG - The year-to-date Chinese offshore bond issuance till August 2017 has already surpassed 2016, and while monthly growth fell 56% in August, this is only due to seasonality, says global asset manager Natixis.
HANOI - A draft of Vietnam’s new Law on Special Administrative - Economic Zones has been posted on the Government Portal for public review and commentary. It outlines the foundation for economic zones (SAEZs) located in Van Don (Quang Ninh Province), North Van Phong (Khanh Hoa Province) and Phu Quoc Island (Kien Giang Province).
SINGAPORE - Asia-Pacific's economic picture looks broadly positive after the third quarter, according to S&P Global Ratings. Among the largest economies, China and Japan show better-than-expected growth momentum, although they have differing risk profiles. But North Korea remains an active risk.
MELBOURNE - CMA CGM has reached an agreement to purchase through its subsidiary, ANL, the majority of the shares in SOFRANA Unilines, a key player in the Pacific Islands regional maritime trade.
SEOUL – Declaring that the current security situation on the Korean Peninsula “is more severe than at any other time”, South Korea’s President, Moon Jae-in, has urged North Korea to give up its nuclear weapons and to return to the same state as relationships were on October 4, 2007, when an inter-Korean declaration was signed.
SEOUL – South Korea’s President,Moon Jae-in, has reaffirmed his Administration’s will to protect peace on the Korean Peninsula. Addressing a ceremony for the nation’s 69th Armed Forces Day. He said: “Our descendants should benefit from co-prosperity on a free and peaceful Korean Peninsula.
HONG KONG - S&P Global Ratings estimates that China's debt could rise a hefty 77% to Chinese renminbi 302 trillion (US$46 trillion) over 2017-2021, but this would means that the pace of growth is slowing.
BEIJING - China has ordered North Korean companies and joint ventures operating in China to shut down within 120 days as it applies UN sanctions imposed following Pyongyang's sixth nuclear test, the Ministry of Commerce and the State Administration for Industry and Commerce said.
BEIJING - Chinese Vice Premier Zhang Gaoli met with Alexei Miller, CEO of Russia’s natural gas company Gazprom, on Monday, agreeing to broaden co-operation in the energy sector, China’s State newsagency, Xinhua, reported, quoting Zhang as saying that, promoted by leaders of the two countries, Sino-Russian energy co-operation had achieved remarkable results.
SINGAPORE - For the first time since the end of the global financial crisis, the credit quality of the largest listed companies in Southeast Asia seems to be stabilising, according to two reports S&P Global Ratings released today. It says corporate credit health in the region has been boosted by an earnings recovery rather than debt reduction.
BEIJING – An Executive Meeting of China’s State Council chaired by Premier Li Keqiang on September 20 extended the “grace period” for China’s Cross-Broder E-Commerce Pilot Programme, previously to expire on December 31, 2017 until December 31, 2018.