SINGAPORE -Southeast Asian telecommunications companies will have to maintain more aggressive financial policies to stay competitive in an increasingly data-driven revenue landscape, says S&P Global Ratings.
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HONG KONG - After registering a stronger-than-expected performance in the first half of the year, China’s economy started to show more signs of moderation in July. “In particular, the authorities’ prudent monetary stance and stepped-up regulatory efforts to tackle a number of financial vulnerabilities, including the risky shadow banking activities, overheating property market and debt overhang, seemingly have transmitted to the real economy, says BBVA Bank.
MANILA - The Philippine economy has undergone structural improvement in the last decade, with potential growth currently around 6½%, more than double what it was during the 1990s, but the recent period of strong growth has resulted in a build-up of imbalances in the economy, which intensifying, according to a new report by ANZ Bank.
MANILA - PT Energi Nusantara Merah Putih (ENMP) and the industrial tenants of Indonesia’s Bantaeng Industrial Park (KIBA) has signed a Heads of Agreement outlining development plans for a 600MW combined-cycle power plant. The partnership is supported by the Government of Bantaeng Regency, South Sulawesi.
HANOI – Vietnam’s Prime Minister, Nguyen Xuan Phuc, has again expressed a firm commitment to support for the private sector, which currently contributes approximately 43% to Vietnam’s GDP growth. He has called for a higher contribution from the private sector to future GDP growth, with a target in the range of 50–60%.
HONG KONG – BBVA says the RMB’s strong performance in recent months has surprised the market, but is caused by a confluence of factors - a steep deprecation of US dollar against other major currencies; stronger-than-expected growth momentum in China; and effective implementation of a series of measures aiming to “promote capital inflows and limit outflows”.
BANGKOK - After several years of preparation for accession to the international brand protection system, Thailand this week has finally joined membership of the Madrid Protocol for the International Registration of Marks with the World Intellectual Property Organisation.
HONG KONG – Global asset manager Natixis says its capital flow tracker points to outflows of US$152 billion from China in Q2 2017, revised from a previous estimate of US$144 billion. This is higher than US$95 billion in Q1 2017.
BEIJING - China’s foreign exchange reserves increased for the sixth straight month in July, hitting the highest level since October, official data shows, as the Government continues its crackdown on capital outflows and a weaker dollar boosted the value of assets denominated in other currencies.
BEIJING - China Everbright Bank has joined other Chinese banks in making Luxembourg its European headquarters, as Europe’s financial centrrs vie to lure Chinese businesses, against the backdrop of uncertainty around Britain's exit from the European Union.
BEIJING - Chinese Foreign Minister Wang Yi on Monday urged Japan to "walk the talk" and put its positive expression of improving ties with China into action, China’s State newsagency, Xinhua, reported.
BEIJING - Chinese Foreign Minister, Wang Yi, has called on North Korea to make a response to guarantees offered by U.S. Secretary of State Rex Tillerson. Both Wang and Tillerson were attending a series of meetings of ASEAN Ministers in Manila.
GENEVA – The International Air Transport Association (IATA) has released data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), grew by 10.4% in the first-half of 2017 compared to the first-half of 2016. This was the strongest first half-year performance since air cargo’s rebound from the Global Financial Crisis in 2010, and nearly triple the industry’s average growth rate of 3.9% over the last five years.
BEIJING - China's Tianjin Municipality and Hunan Province have dismantled production facilities for inferior-quality steel bars following a national inspection by the State Council. Chinese Premier Li Keqiang recently called for steadfast efforts to push overcapacity cuts after the inspection found that certain steel mills were trying to resume production of inferior-quality steel bars.
JAKARTA – ANZ Bank is forecasting a further interest rate cuts of 25 basis points in the fourth quarter of 2017 after growth in Indonesia remained static at 5.1% in the second quarter. It says economic activity was primarily weighed down by a contraction in Government expenditure, while growth in household consumption was also lacklustre.
SEOUL – South Korea’s President, Moon Jae-in, has told U.S. President Donald Trump that South Korea will never accept the recurrence of a second tragedy of war on the Korean Peninsula. The two Presidents spoke by telephone yesterday to discuss ways to co-operate in jointly responding to North Korea.