KUALA LUMPUR – Co-hosting its third annual Huawei Asia-Pacific Innovation Day here, along with Malaysia's Ministry of International Trade and Industry (MITI), the Malaysia Digital Economy Corporation (MDEC) andthe Malaysia-China Business Council, Huawei Technologie has announced construction of a new OpenLab in Malaysia to serve as an open, flexible, and secure platform for joint innovation with local partners.
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BEIJING - Financial technology (fintech) companies, especially the sizable ones, should fall under the same risk assessment framework as banks, an official from China’s central bank said. “Systemically important financial institutions do not necessarily have to be traditional financial institutions,” Sun Guofeng, Head of PBOC’s finance research institute, said, according to a Caixin report.
BONN – CMA CGM Group, the parent company of Australian National Line (ANL) announced at the COP23 climate change conference here that it will equip its nine future ships of 22,000 TEUs (Twenty-foot Equivalent Units), to be delivered in 2020, with engines using liquefied natural gas.
JAKARTA - CIMIC Group’s global mining services provider, Thiess, has been awarded aa AUD300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia.
BEIJING - Chinese Premier Li Keqiang called for closer China-U.S. cooperation in developing next-generation nuclear power technology as he met with Bill Gates, co-founder of Microsoft and Chairman of TerraPower.
GENEVA - IATA data for global air freight markets in September shows demand (measured in freight tonne kilometres or FTKs), rose 9.2% compared to the same month in 2016. This was the slowest pace of growth in five months, but still significantly higher than the five-year average growth rate of 4.4%.
NEW DELHI – In its annual ranking of 190 countries for ease of doing business, the World Bank has lifted India 30 places from 130 to 100. It ranks fourth on the world listing for protection of minority shareholders.
BEIJING - After less than a year in the job, China’s Finance Minister, Xiao Jie, has been appointed Deputy Secretary-General of the State Council — part of a broader leadership reshuffle following the key National Party Congress in October.
HONG KONG - The challenges faced by China’s Belt and Road initiative (OBOR) are significant, says BBVA Bank in a new research report. Excluding Singapore, nearly 54% of OBOR investments have flowed to countries with speculative grade sovereign rating, it says. “This raises implementation and credit risk concerns for Chinese stakeholders.
BEIJING - Chinese President Xi Jinping stressed China's commitment to developing and deepening relations with Russia during a meeting with Russian Prime Minister Dmitry Medvedev yesterday. Xi said China is ready to work with Russia to expand cooperation in various fields, maintain close coordination in international affairs and promote the building of a community of shared future, China’s State newsagency, Xinhua, reported.
NEW DELHI - India’s e-commerce development has lagged far behind that of China andr Southeast Asian countries like Singapore and Malaysia, but the gap has started to show signs of narrowing in the wake of pro growth economic policies adopted by the Modi Government. Swift e-commerce development in India is being facilitated by a phenomenal surge of internet usage, says a new research report from the Hong Kong Trade Development Council.
ISLAMABAD - S&P Global Ratings has affirmed its 'B' long-term and short-term sovereign credit ratings on Pakistan with the outlook for the long-term ratings stable.
HONG KONG - By 2021 the average Hong Kong citizen will hold more assets than an individual in Switzerland, according to the data and analytics company GlobalData, which says the value of liquid assets held by the global population will exceed US$100 trillion by the end of 2017, with frontier and emerging economies leading the way in terms of future growth.
BEIJING - The U.S. conclusion on anti-dumping of aluminum foil from China was "a serious distortion" of real situation, the Ministry of Commerce (MOC) said Tuesday, the Chinese State newsagency Xinhua reported. It said the MOC made the statement in response to a U.S. decision on China's status as a non-market economy country and launching of an anti-dumping investigation against aluminum foil imports from China under the "analogue country methodology".
BEIJING - China and South Korea have been maintaining communications on the Korean Peninsula nuclear issue through diplomatic channels, the Chinese Foreign Ministry said Tuesday. "Enhancing communication and co-operation is in accordance with the common interests of China and the ROK, a Ministry press release said. “Both sides agree to return communication and co-operation in various fields to the normal track as soon as possible."
SHANGHAI - China plans to introduce high-standard trade, financial, foreign currency and investment supervision systems as part of a free port within the Shanghai Pilot Free Trade Zone to further compete with other major shipping hubs such as Singapore and Hong Kong, the Ministry of Commerce said yesterday.