Friday, May 20 2022 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
TAIPEI -- Taiwan has shared its experience in the use of digital tools to combat infectious disease at a virtual conference hosted by the Asia-Pacific Economic Co-operation (APEC) grouping to spotlight Taiwan's commitment to working with fellow member economies to strengthen the regional response to COVID-19.
COLOMBO - Ratings agency Standard and Poors says Sri Lanka's external position has weakened due to falling reserves and weak demand for Sri Lanka Development Bonds (SLDBs). "These developments continue to affect investor confidence and increase external financing difficulties," the agency says.
BEIJING -- China today expressed strong opposition to the first-ever round of security talks between the ruling parties of Japan and Taiwan, lodging a formal protest with Japan. China's Global Times newspaper, which reflects official views, quoted "mainland experts" as warning Japan that "such attempts of self-comfort and catering to the US' Indo-Pacific strategy to contain the mainland may provoke a strong backlash from Beijing".
NEW DELHI -- India exported goods worth US$35.43 billion in July, the highest total for a single month, due to recovery in key global markets and robust demand, according to data released by the Commerce and Industry Ministry.
TAIPEI - Taiwan's Ministry of Foreign Affairs (MOFA) has welcomed a report and related amendments passed by the European Parliament's Committee on Foreign Affairs to strengthen the partnership between Taiwan and the European Union.
SINGAPORE - The challenge faced by international airlines is again highlighted in first-quarter FY2021/22 financial figures from the Singapore Airlines Group. It said border controls and travel restrictions remained largely in place in key markets for the SIA Group around the world.
TAIPEI -- Lawmakers from Taiwan, Japan and the US participated in the inaugural meeting of a trilateral strategic dialogue on July 29. Taiwan's Ministry of Foreign Affairs (MOFA) said the trilateral strategy forum aimed at deepening co-operation and strengthening ties between Taiwan, Japan and the U.S.
SINGAPORE -- Companies across the globe are ramping up their spending, with S&P Global Ratings forecasting corporate capital expenditure (capex) to rise 13% for the year. S&P says global capex from nonfinancial companies fell to US$3.3 trillion in 2020 from US$3.5 trillion in 2019, and it is set to rebound to US$3.7 trillion in 2021.
GENEVA - The International Air Transport Association (IATA) has called on governments to take action to address the high cost of COVID-19 tests in many jurisdictions, and urged flexibility in permitting the use of cost-effective antigen tests as an alternative to more expensive PCR testsIATA also recommended that governments adopt recent World Health Organisation (WHO) guidance to consider exempting vaccinated travellers from testing requirements.
JAKARTA -- Bank Indonesia (BI) has kept its policy rate unchanged at 3.50% as widely expected as it strikes a balance between supporting growth and maintaining currency stability. Although the central bank downgraded its domestic growth forecast, it is more positive on global growth.
HANOI -- Vietnam's Q2 GDP growth quickened to 6.61% y/y in Q2, 0.6% weaker than market expectations of 7.2% y/y. But in an economic research note, ANZ Bank points out that the result marks an improvement from 4.65% y/y growth in Q1 (revised upward from 4.48% y/y earlier).
NEW DELHI --India's inflation in May surged past the 6% ceiling of the official target range. The price increase was broad-based, with both headline and core components touching recent highs, ANZ Bank said in a research note. Various State-level lockdowns and rising health costs likely added to the inflationary impulse in the month, ANZ said. "We expect the Reserve Bank of India (RBI) to not react to this data point, but to monitor if it is sustained."
SYDNEY -- Businesses across Australia are feeling the pinch following a full year of the Covid-19 pandemic, according to a report by credit insurer, Atradius. A Payment Practices Barometer survey of both large and small businesses shows dramatic changes in B2B customer payment behaviour.
SINGAPORE -- Asia-Pacific's recovery is mostly on track, with early stumbles during the vaccine rollout giving way to redoubled efforts to vaccinate and open up, according to a report published today by ratings agency Standard and Poors, titled "Asia-Pacific's Recovery Regains Its Footing."
BANGKOK -- The Bank of Thailand, Thailand's central bank, is now forecasting 2021 and 2022 GDP growth at 1.8% and 3.9% respectively, compared with 3% and 4.7%
previously, crystallising its earlier warning that shortfalls in tourist arrivals and vaccinations could depress GDP growth.
HONG KONG - The Hong Kong Trade Development Council (HKTDC) Export Index has risen for the fifth consecutive quarter, from a record low of 16.0 at the beginning of the COVID-19 pandemic last year to 48.7 in the second quarter of 2021. That is close to expansionary territory.