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Can Europe, US learn lessons from history? - Japanisation - low interest rates, and central banks that are prepared to print money, is the new phenomenon set to sweep Europe and the US, according to Japan's top financial diplomat, Takehiko Nakao, who adds that the trauma of this year's earthquake and tsunami has brought renewed confidence to Japan. The Japanese people are finally opening their wallets again.
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Chinese banks allocating more credit for SME sector - Jiang Jianqing, Chairman of ICBC, clarifies what he sees as an erroneous perception of China's banking system.
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Floods leave Thailand at crossroads - Can Thailand set new standards of governance to win confidence from investors?
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South Korea's trade deals too late? - Ill winds blowing from Europe and the US could be the edge of a coming storm.
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Taiwan pushing to widen FTAs - Taipei is now casting eyes on the wider Trans-Pacific Partnership (TPP) trade grouping, which won US support at November's APEC meeting.
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Australia in Asia - GHD focus is on China, Americas; Architects plan JV in Shanghai; ANZ Bank seeks growth in resources, commodities, agribusiness trade; HSBC says Australian business lagging on RMB trade.
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CHINA SERVICES PMI DECLINES IN JANUARY, BUT SO WHAT?
HONG KONG - Following the better-than-expected manufacturing PMI outturn released earlier this week, China’s service sector PMI released today shows a weak outturn, dropping to 52.9 in January from 56.0 the previous month. The result had little market impact, and China’s stock markets were up for a second straight day. Says BBVA Bank: “We tend to pay little attention to the services PMI in China (in comparison to the more important manufacturing PMI), given the sector’s relatively low importance in the economy, and the series’ volatility and questionable coverage. Also, seasonality issues were at play given the Chinese New Year holiday. We therefore hold to our view that the economy is slowing, but averting a hard landing. The authorities are geared up for further policy support, and various media sources reported today that Central Huijin (the State holding company) has agreed to cut the dividend payout of the four major State-owned banks by 5% this year, to bolster the banks’ capital adequacy ratios.” www.bbva.com (ATI).
S&P SETS BASELINE OF 8% GROWTH FOR CHINA IN 2012
HONG KONG - Standard & Poor's expects the debt crisis in Europe, and the weak US recovery, to reduce demand and to cause a drag on China's export-dependent economy. China experienced a slowdown in GDP growth to 9.2% in 2011, and S&P expects it to fall further in 2012 to about 8% - “our base-case scenario for our current ratings," says S&P credit analyst, Terry Chan. “We also project that there is a one-in-four chance of a medium landing of 7% growth to occur, and a one-in-10 likelihood of a hard landing of 5% GDP expansion." China's industry sectors would experience varying impacts from the marked slowdowns of the latter two scenarios. “The impact could range from very high to low, which could mean from defaults to no downgrades. We believe the country's real estate sector and local governments would suffer most in a significant slowdown.” www.standardandpoors.com (ATI).
NORTH KOREAN MOBILE PHONE USERS TOP 1 MILLION REPORT INDIA'S ONGC TO INVEST US$33 BLN IN 12TH PLAN TAIWAN SEMICONDUCTOR SALES DROP IN 2011 REPORT SONY TO PUSH AHEAD WITH "PAINFUL REFORMS"
TOKYO - Kazuo Hirai, Sony Corp.'s incoming President and Chief Executive, says he will push ahead with "painful reforms" that will speed the company's exit from money-losing businesses. Sony cut its bottom-line forecast for the year ending next month to a 220 billion yen (US$2.89 billion) loss. Hirai said he will aim to solve the electronics giant's most persistent problem — making its televisions profitable again — by the end of fiscal 2013. The 51-year-old Hirai, who worked his way up through Sony's video games business, said he feels "a sense of crisis" about the company's situation. Sony is forecasting its fourth straight annual group net loss. He outlined a four-point plan of strengthening digital imaging and games, rebuilding the TV operations, redrawing Sony's business map, and speeding up innovation. Sony will pull out of or outsource businesses "that cannot create added value," he said. Hirai reaffirmed Sony's commitment to TVs, an area where it is bracing for an eighth straight year of operating losses, calling them "an important product at the center of home entertainment." Sony will tackle the segment's losses through such steps as cutting LCD panel procurement costs (Asia Pulse).
March 16, 2012
National HKABA-Cathay Pacific Asia Business Awards – The first National Hong Kong-Australia Business Awards will be presented in Sydney on March 16. The Hong Kong Australia Business Council has been sponsoring individual State awards for a number of years. State winners will vie for the National Awards. For further information, or to reserve seats at the function, call Teresa Lee on (61 2) 9267-3158 or email hkaba@hktdc.org
March 28-30, 2012
Australian buyers attending Sri Lanka Expo 2012 can qualify for three nights accommodation and a 15% discount on tickets purchased through Sri Lankan airlines offices (not travel agents) for the event. The Sri Lankan Consulate in Sydney is co-ordinating a delegation of Australian buyers to the Expo, to be staged at Bandaranaike Memorial International Conference Hall (BMICH) in Colombo. One-on-one business meetings can be arranged with Sri Lankan exporters. Call the Consulate on (61 2) 9235-2582 or email slcgsyd@bigpond.com http://www.srilankaexpo.com
March 19-23, 2012
Mines and Money Hong Kong - Asia-Pacific’s largest mining investment event at the Hong Kong Convention and Exhibition Centre will see 250 mining companies exhibiting their investment offerings. More than 2,500 delegates from the mining and investment communities will attend this five-day event For more information visit www.minesandmoney.com/hongkong or contact Charlie Hastings on (44 1)932 269777, email chastings@beaconevents.com http://www.minesandmoney.com/hongkong
OUR ONE-STOP SHOP
Direct links to Government trade and investment sites; the Asia Market - Products
and Services, itemised by category; Contact Directories (Professional Services,
Banking and Finance, Trade Services and Logistics, the ASIA2010 Directory).
(updated Nov 2011) ASIA 2012 Directory [ PDF - 1.3mb ]
2011 Trade Services and Logistics Directory - August[ PDF
- 1.44mb ]
2011 Banking and Finance Directory - June[ PDF
- 1.18mb ] 2011 Professional Services Directory [ PDF
- 1.08MB ]
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