All posts tagged Asia

Chinese Govt Says Financial System Must Support Economy

 

Chinese Govt Says Financial System Must Support Economy

China (CNGFOREX)’s government said the financial system must better support the economy, after a surge in credit failed to ignite growth and interbank borrowing costs jumped to a two-year high.

Authorities will boost credit support for industries the government has defined as strategic and those that are labor-intensive, the State Council, or Cabinet, said in Beijing yesterday after a meeting led by Premier Li Keqiang. The nation must more firmly guard against financial risks, according to a statement on the central government’s website.

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by admin on June 19, 2013  •  Permalink
Posted in Business, Asia, Market, Bank, Finance, Regulation, China, Economics
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Posted by admin on June 19, 2013

http://theasiancenturyreport.com/2013/06/19/chinese-govt-says-financial-system-must-support-economy/

Asia Business Sentiment Upbeat In Second Quarter: Thomson Reuters/INSEAD Survey

Asia Business Sentiment Upbeat In Second Quarter: Thomson Reuters/INSEAD Survey

Business confidence among Asia’s top companies improved in the second quarter with a sharp rebound in sentiment in the shipping, retail and technology industries, even as concerns persisted about the global economic recovery, currency fluctuations and rising costs, a Thomson Reuters/INSEAD Asia Business Sentiment Survey showed on Wednesday.

According to the survey, the Asia Business Sentiment Index improved for a third-straight quarter to hit a reading of 71 in June, its highest level in more than a year. A reading of above 50 indicates an overall positive outlook.

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by admin on June 19, 2013  •  Permalink
Posted in Asia, Business, Economics
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Posted by admin on June 19, 2013

http://theasiancenturyreport.com/2013/06/19/asia-business-sentiment-upbeat-in-second-quarter-thomson-reutersinsead-survey/

Asia’s richest person Li Ka-shing expands reach into Europe

Asia’s richest person Li Ka-shing expands reach into Europe

HONG KONG: A consortium of companies owned by Li Ka-shing, the richest person in Asia, said Monday that it would pay more than $1 billion to acquire Dutch waste management firm AVR from its private equity owners.

Li’s companies have been seeking to expand their already considerable global portfolio of investments in utilities and infrastructure, which include electricity plants in Australia and natural gas networks in Britain.

Under the 943.7 million euro, or $1.26 billion, deal, four Li firms will acquire AVR, which incinerates waste and converts it into energy, from a Dutch company jointly owned by private equity firms Kohlberg Kravis Roberts and CVC Capital Partners.

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by admin on June 17, 2013  •  Permalink
Posted in Asia, Bank, Business, China, Finance, Hong Kong, Investment
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Posted by admin on June 17, 2013

http://theasiancenturyreport.com/2013/06/17/asias-richest-person-li-ka-shing-expands-reach-into-europe/

Canada’s GMP Capital Eyes Growth in Asia

Canada’s GMP Capital Eyes Growth in Asia

Toronto-listed GMP Capital Inc, GMP.T +3.00% which provides advisory, underwriting and investment banking services to the natural resources sector, has been active in Australia since June 2011. Its president and chief executive Harris Fricker spoke to MoneyBeat on a recent trip to Sydney about the firm’s growth ambitions and his take on global equity capital markets. The below interview has been edited.
WSJ: What attracted GMP to Australia following your entry into London in 2006?
HF: London was a natural market for us given the bid for resources in Europe. Our success there caused us to look into the Australian market because it had identical rule of law, very common cultural traditions and very similar regulation. We thought we’d understand it very quickly. Secondly, it was being driven by the same macroeconomic factors that were driving Canada, and that was demand for commodities, stemming from the growth in Asia.
WSJ: How do you intend to grow GMP in Australia, perhaps with some acquisitions or new offices across the country?

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by admin on June 17, 2013  •  Permalink
Posted in Agriculture, Asia, Australia, Business, Investment, Market
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Posted by admin on June 17, 2013

http://theasiancenturyreport.com/2013/06/17/canadas-gmp-capital-eyes-growth-in-asia/

REITS in Hong Kong, Singapore Lose Their Allure

REITS in Hong Kong, Singapore Lose Their Allure

Hong Kong and Singapore have seen a spate of initial public offerings by trusts playing on investors’ desire for two elements in recent months: yield and hard assets.
But a recent selloff in real-estate investment trusts in both cities hints at the fading allure of dividend-paying stocks, as concerns that the U.S. Federal Reserve may soon scale back its stimulus moves have driven up Treasury yields and rattled investors around the world. The drop in REITs also comes as investors fear that property prices could decline in Hong Kong and Singapore.
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by admin on June 17, 2013  •  Permalink
Posted in Asia, Business, Finance, Hong Kong, Industry, Investment
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Posted by admin on June 17, 2013

http://theasiancenturyreport.com/2013/06/17/reits-in-hong-kong-singapore-lose-their-allure/

India Looks to Balance Equation with Beijing in Visit to Tokyo

Asia’s number two and three economies will be having a summit level meeting next week when Japan will host Indian Prime Minister Manmohan Singh

Asia’s number two and three economies will be having a summit level meeting next week when Japan will host Indian Prime Minister Manmohan Singh.

Rajeev Sharma from FirstPost reports that Asia’s number two and three economies will be having a summit level meeting next week when Japan will host Indian Prime Minister Manmohan Singh (27-29 May).

Japan is a crucial ‘swing state’ for India to counter the immense diplomatic, economic and military might of China that continues to power on. Both the leading democracies of the world have had their individual military face-offs with China on their respective boundary issues recently – Japan over the Senkaku (Diaoyu for the Chinese) islands, India over the Chinese incursion in the Depsang Valley of Ladakh.

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by Admin on May 24, 2013  •  Permalink
Posted in Asia, China, India, Japan
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Posted by Admin on May 24, 2013

http://theasiancenturyreport.com/2013/05/24/japan-india-to-bolster-ties-as-china-looms-singh-senkaku-banquo-ghost-state-department-in-washington-blake-robert-yamanouchi-oda-delhi-beijing/

A New Numerology for Predicting China’s Economy

The dreaded number "four" in Chinese Culture may be involved in predicting China's economic cycle

The dreaded number “four” in Chinese Culture may be involved in predicting China’s economic cycle

Robert Silk from WSJ: The number “four” is unlucky in China. It sounds a little bit like “death,” and nobody wants it in their phone number.

But one economist at Peking University, one of the country’s top academic institutions, is convinced traditional numerology has got it wrong.

“What are the boom years in the Chinese economy?” asked Cai Hongbin at a Thursday morning press conference. “Eighty-three and ’84, ’93 and ’94, 2003 and 2004.”

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by Admin on May 23, 2013  •  Permalink
Posted in Business, China, Market
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Posted by Admin on May 23, 2013

http://theasiancenturyreport.com/2013/05/23/a-new-numerology-for-predicting-chinas-economy-four-chinese-growth-economy-hft-asia-gdp-communist-xi-jinping-li-keqiang-cai-hongbin-economy-asia-peking-beijing-shanghai/

Singapore Shows Surprising Growth in April

Singapore's economy took an unexpected turn higher in the first quarter of the year as a rally in financial markets buoyed the city-state's banking sector.

Singapore’s economy took an unexpected turn higher in the first quarter of the year.

Martin Vaughan from WSJ: Singapore’s economy took an unexpected turn higher in the first quarter of the year as a rally in financial markets buoyed the city-state’s banking sector.
Gross domestic product expanded 1.8% in the first quarter on a seasonally adjusted, annualized basis, an improvement from preliminary data that had indicated a 1.4% decline, the government said Thursday. Officials said they expect growth to pick up modestly for the remainder of the year on stronger external demand, but kept their full-year growth forecast at 1.0%-3.0%.

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by Admin on May 23, 2013  •  Permalink
Posted in Asia, Economics, Market
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Posted by Admin on May 23, 2013

http://theasiancenturyreport.com/2013/05/23/singapore-shows-surprising-growth-in-april-manufacturing-financial-gdp-banking-asia-india-inflation-industrial-production/

Is the Indian economy stronger than commonly assumed?

images (5)“When the facts change, I change my mind,” said John Maynard Keynes. Will the revised data on gross domestic product (GDP) for 2010-11 make us do likewise?

For the revised GDP estimates issued last week question popular descriptions of India’s growth slowdown, challenge estimates of a lowered potential output and possibly shed some light on the inflation-growth disconnect in 2012. The improved data has been computed from the dependable Annual Survey of Industries (ASI) rather than the notorious Index of Industrial Production (IIP); it compels us to revisit these issues and raises policy setting concerns.
The facts: India’s GDP growth for 2010-11 stands reworked to 9.3% instead of the earlier estimate of 8.4%—nearly one percentage point higher. Much of this increase comes from revised manufacturing sector growth—9.7% year-on-year, or 2.1 percentage points more. What’s more, the increase in the estimated growth for 2010-11 is itself built upon a 1.6 point increase in growth during the previous year (now 11.3% for 2009-10).
On the demand side, it was the capital stock growth that contributed 4.2 percentage points to the 10.5% real GDP growth (at market prices). Gross fixed capital formation growth is now placed at 14% year-on-year, nearly double the earlier measure of 7.5%, and a substantial jump over the 7.7% growth in 2009-10; this acceleration lifted the real gross capital formation rate to 40% in 2010-11, from 38.4% the previous year. The other demand component that has been revised is public consumption: growth in actual government expenditure was a more modest 5.9% in 2010-11 against the 8.2% recorded earlier and a big drop from the 14% growth in 2009-10.
The new facts challenge some hypotheses about the collapse of the India growth story. For one, the “policy paralysis” explanation that throttled investments and exacerbated supply constraints from 2010 weakens in the light of robust manufacturing growth and capacity creation in 2010-11. This may explain the sudden, sharp drop in growth to 6.2% in 2011-12, when scams emerged to dent business confidence, but not before.
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by cbasdeo09 on February 5, 2013  •  Permalink
Posted in Asia, Business, China, Economics, Hong Kong, India
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Posted by cbasdeo09 on February 5, 2013

http://theasiancenturyreport.com/2013/02/05/china-happy-hour-8/

Japan central bank moves to boost economy

r-JAPAN-STOCK-MARKET-large570According to Al Jazeera News, Japan’s central bank has taken its boldest action yet to lift the country’s struggling economy.

The Bank of Japan on Tuesday doubled its inflation target and took on an open-ended commitment to buy assets.

Prime Minister Shinzo Abe’s government has been pushing for a plan to kick-start Japan‘s economy, which is the third largest in the world.

He is hoping to spur growth in his second term in office, through heavy government spending on public works and other projects.

Jeff Kingston, the director of Asian Studies at Temple University in Tokyo, told Al Jazeera that this time around, Abe was focusing on the economy.

“Everyone is worried about his ideological objectives, but it looks like he is putting that aside and focusing on the economy,” Kingston said.

The Bank of Japan adopted the two percent inflation target demanded by the country’s new government.

“The bank sets the ‘price stability target’ at two percent in terms of the year-on-year rate of change in the consumer price index,” the bank said in a statement.

“The Bank will pursue aggressive monetary easing … through a virtually zero interest rate policy and purchases of financial assets,” it added.

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by cbasdeo09 on January 29, 2013  •  Permalink
Posted in Asia, Bank, Business, China, Economics
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Posted by cbasdeo09 on January 29, 2013

http://theasiancenturyreport.com/2013/01/29/china-happy-hour-7/

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