COLOMBO: The US International Development Finance Corporation ( DFC) announced that it would provide US$ 553 million in funding for a Colombo port terminal project that is partially owned by the Adani Group of India, marking the first entry of an Indian business into the market. Sri Lanka, an islandContinue Reading
BEIJING: The International Monetary Fund increased its forecast for China’s 2023 gross domestic product growth from 5 % to 5.4 % on Tuesday( Nov. 7 ) citing a” strong” post-COVID – 19 recovery, but it stated that it still anticipated the Chinese economy to slow down the following year. TheContinue Reading
UNEVEN RECOVERY Following the information, the yuan and Chinese companies dropped, which confirmed markets’ ongoing worries about a shaky and odd treatment. Both new export and import orders decreased for an seventh straight month in October, according to China’s standard getting managers’ power last week, indicating that companies are havingContinue Reading
JAKARTA: According to Bulog, the nation’s state food procurement business, Indonesia intends to set its rice import limit for the following year at 2 million metric tons, which is less than this year. According to Awaludin Iqbal, business director for Bulog, domestic supply and demand will determine the import realizationContinue Reading
Shanghai / Singapore: According to sources, China’s efforts to prevent the yuan from falling caused the chaos in the money markets last week. This pressure comes from Beijing, which is attempting to control its markets and economy during a significant slowdown. On October 31, routine month-end cash requirement in China’sContinue Reading
SINGAPORE: According to traders and market consultancies, China’s oil refinery utilisation rates are falling from log third-quarter levels as dwindling margins and a lack of export quotas prevent plants from increasing output for the remainder of 2023. The decrease in refining output may lower simplistic demand from the top importerContinue Reading
HONG KONG: According to a statement from Morgan Stanley that cited data from bank movement monitor EPFR, international finance managers sold China equities strongly in October despite additional actions taken by authorities to boost the country’s second-largest economy. According to the report, which was seen by Reuters, online flow fromContinue Reading
China’s simple balance, which includes current account and direct expense balances and is more stable than turbulent portfolio investments, consequently reported a US$ 3.2 billion deficit, the second-ever quarterly shortfall. Tommy Xie, mind of Greater China Research at OCBC, wrote,” We anticipate a prolonged proper answer from China’s government givenContinue Reading
SEOUL: Financial authorities announced on Sunday that South Korea will reimpose a ban on short-selling shares starting on Monday( Nov. 6 ) at least until June in order to create” level playing fields” for retail and institutional investors. The restriction was lifted in May 2021 for deals involving stocks ofContinue Reading
In an effort to assuage investors’ concerns that it is losing ground to a recently revived Huawei Technologies and other local smartphone makers, Apple announced on Thursday( Nov 2 ) that demand for its iPhones in China was strong. In an interview with Reuters, Chief Executive Tim Cook stated that”Continue Reading