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Air freight volumes show declining market in Asia, US: IATA

September 30, 2015

GENEVA - Asia-Pacific based airlines (-1.0%), those in North America (-3.3%) and Latin America (-7.3%) have led falls in air freight volumes in August. International Air Transport Association (IATA) data for global air freight markets shows August freight volumes globally rising by 0.2% compared to the same month a year ago, a modest improvement on July performance when freight demand contracted by 0.6% on-year.

ANZ tips Australian dollar to trough at 64 cents with two interest rate cuts in first half 2016

September 24, 2015

MELBOURNE – ANZ Bank today downgraded its forecast for the Australian dollar, which it now expects to reach a trough of 64 cents to the US dollar. ANZ is also forecasting two more interest rate cuts for Australia in the first half of 2016, citing ä shift in the balance of risks”.

HKTDC tips zero growth for Hong Kong exports in 2015

September 16, 2015

HONG KONG – Uncertainties in the global economic environment have affected exporter confidence in Hong Kong, according to the latest Export Index released today by the Hong Kong Trade Development Council. For the third quarter of 2015, the Export Index plunged to 37.1, down from 46.8 in the previous quarter, its lowest level since the fourth quarter of 2012.

S&P downgrades CITIC as police move in on executives in China market turmoil

September 17, 2015

HONG KONG - Standard & Poor's today placed its 'BBB+/A-2' and 'cnA+/cnA-1' Greater China regional scale ratings on CITIC Securities Co. Ltd. (CITICS) and CITIC Securities International Co. Ltd. (CSI) on CreditWatch with negative implications.

It also placed all issue ratings on the debt of CITICS on CreditWatch with negative implications, except the 'A' long-term and 'cnAA+' Greater China scale ratings on the US$800 million bonds that Bank of China Ltd. guarantees.

S&P lowers Japan’s credit rating, says Abenomics won’t fix the problem

September 16, 2015

SINGAPORE – Ratings agency Standard & Poor’s today lowered its long-term foreign and local currency unsolicited sovereign credit ratings on Japan to 'A+' from 'AA-'. The outlook is stable. “We also lowered the short-term foreign and local currency unsolicited sovereign credit ratings to 'A-1' from 'A-1+'. We revised our transfer and convertibility (T&C) assessment to 'AA+' from 'AAA',” S&P said.

IDR15,000 to US$1 rate could strain ratings on Indonesian companies, says S&P

September 10, 2015

JAKARTA - Tough operating conditions and a potential currency slide could increase the rating pressure on Indonesian companies, according ratings agency Standard & Poor's. "Indonesian companies are battling slow revenue and profit growth, oversupply, and growing debt levels," said S&P credit analyst Xavier Jean.

Taiwan to lift bio-tech sector to US$92 billion output by 2020

September 11, 2015

TAIPEI - A comprehensive plan to increase the size of Taiwan’s bio economic sector to NT$3 trillion (US$92.1 billion) by 2020 has been unveiled by the Executive Yuan. Covering agriculture, food, health care, medical instruments and pharmaceuticals, the initiative will leverage Taiwan’s advantages in information and communications technology to create cross-industry synergies.

Bank of Korea hesitates to cut interest rate, but ANZ Bank says two more cuts likely

September 11, 2015

SEOUL – at its meeting today, the Bank of Korea (BOK) held the  interest rate at 1.50% while highlighting the fact that the trend of declining exports has persisted and improvement of economic sentiment has been inadequate. In addition, the BOK statement singled out China’s financial instability as a risk.

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