Feb. 29 – Bank of America Merrill Lynch has conducted a survey of chief financial officers (CFOs) from mid-to-large sized Asian companies for the first time in the annual survey’s 14-year history. Titled “2012 CFO Outlook Asia,” the report provides an insight into how large companies in the Asia-Pacific region assess the present and future outlook of seven key regional economies, in addition to the world economy.
The responses were weighted according to each country’s GDP, in order to create a more realistic picture of the Asia-Pacific economy. China was given the heaviest weighting with 38 percent, followed by Japan (35 percent), India (11 percent), South Korea (7 percent), Australia (6 percent), Hong Kong (1 percent) and Singapore (1 percent). Continue reading
Posted in Business, Featured, Foreign Trade
Tagged 2012 Economic Outlook, China, Financing, Hong Kong, India, Japan, M&As, Singapore, South Korea
Feb. 24 – Singapore’s Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam delivered the 2012 budget address to Parliament on February 17, 2012, in which he presented a series of tax changes, some of which are highlighted below:
- For individuals, with effect from year of assessment (YA) 2013, the amount of enhanced earned income relief (EIR) and handicapped EIR will be increased to encourage elderly workers to stay employed and to provide more support to handicapped workers. Continue reading
Feb. 23 – China, India and Japan – three of Asia’s largest oil consuming nations – are planning to reduce imports of crude oil from Iran by at least 10 percent in response to mounting pressure from the United States and its Western allies to impose sanctions on the Middle Eastern state. The three countries together purchase nearly half of Iran’s crude oil exports.
The United States and the European Union announced plans earlier this year to impose punitive sanctions on Iran in an effort to force the Iranian government to cease the development of its nuclear program – which they say is aimed at producing a nuclear weapon despite Tehran’s claims that its nuclear program is purely for civilian purposes. Continue reading
Feb. 15 – The global demand for aircraft is expected to balloon over the next two decades, according to forecasts made by major industry player, Boeing. The U.S. aerospace giant predicts global airlines will require 33,500 new aircraft worth about US$4 trillion by 2030 – 60 percent of which will be to feed market growth.
The Asia-Pacific region is expected to account for some 35 percent of these orders, according to Boeing’s Vice President for Commercial Planes Randy Tinseth. He also said Boeing’s response will include plans to increase production and possibly introduce a larger version of its new 787 Dreamliner. Continue reading
Feb. 13 – China has topped the list of most promising “emerging” markets for investors and Vietnam has been labeled the most attractive “frontier” market according to a new set of rankings published in the March 2012 issue of Bloomberg Markets. In the report, countries are divided into either emerging or frontier economies and are ranked based on various measures of the investment climate: including GDP growth, government debt as a percentage of GDP, and the ease of doing business.
Countries are classified based on their presence in the FTSE Frontier 50 Index, the FTSE Emerging Index, the MSCI Frontier Markets Index, the MSCI Emerging Markets Index, the S&P Frontier Broad Market Index or the S&P Emerging Broad Market Index. Continue reading
Burma, Thailand and China all looking good
Feb. 10 – Mark Mobius, the investment guru of Franklin Templeton Investments and a renowned player in asset management, has been waxing lyrically about the opportunities in emerging Asia. Stating that emerging markets are growing four times faster than developed countries, he stated in The Nation that Asia would be immune from any financial crisis as the debt-GDP ratio was very low, forex reserves are high, and interest rates are low, each of which were major factors in protecting Asia from much of the fallout of the Global Financial Crisis. Continue reading
Feb. 9 – China dramatically increased its renewable energy production capacity in 2011, tripling output in solar power alone, but environmentalists warn an unwavering reliance on coal to fulfill 70 percent of its energy needs is offsetting the benefits of this new clean development, according to The Guardian.
Last year, China overtook Japan for the first time to become the world’s top importer of coal and, after increasing overall consumption of the resource by 95 million tons over the same time, China is on pace to soon be burning half of the world’s coal. As coal is considered the most damaging source of carbon dioxide emissions, these new statistics have alarmed both environmentalists as well as Chinese government officials, who are already under pressure to curb pollution and environmental degradation. Continue reading
Posted in Business, Energy, Featured, Mining
Tagged Carbon Dioxide, China Coal, China Energy, China Policy, China Renewable Energy, Emissions, Environment, Fossil Fuels