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Banking / Investment in Asia

  • Cambodians with a bank account is the same as in Yemen

    CAMBODIA, 2013/11/12 Only 3.7 % of Cambodia’s 14 million people have bank accounts with a financial institution, while less than 1 % of those with an account are actually using them to save money, according to a World Bank statement released Tuesday. Though the World Bank’s World Financial Development Statement for 2014 underscores how far Cambodia still is from providing financial services to its wider people, bankers on Monday disputed the figures and said a lot of additional people in the country had accessed banking services since 2011. According to the statement, the % of Cambodians with a bank account is the same as in Yemen, Guinea and the Democratic Republic of the Congo.

  • ZCCZ Contributes Towards Investment in Zambia

    CHINA, 2013/10/17 TODAY on the Policy Analysis, we will have a glance at Zambia's multi-facility economic zones (MFEZs), narrowing down to the Zambia-China Cooperation Zone (ZCCZ) and its contribution towards the investment outlook. To do that, I invited our senior reporter to discuss the ZCCZ zeroing in on the equitable it recently hosted. THE Government has continued to score success in conference its mandate of promoting trade and investment in Zambia. This is evidenced by the growing number of both local and foreign investors that have continued to invest in all sectors of the economy in Zambia.

  • China September New Loans Exceed Forecast, Money Supply Growth Eases

    CHINA, 2013/10/15  China's yuan-denominated lending increased significantly in September, and was above economists' estimate, while the country's broad money supply grew at a slower pace, new data showed Monday. A statement released by the People's Bank of China showed that Chinese banks disbursed CNY787 billion in new yuan loans in September, which was higher than CNY711.3 billion recorded a month before and CNY675 billion estimate by economists. Separately, the central bank said the country's broad money supply, or the M2, which is a measure of cash in circulation and all deposits, grew at a slower annual rate of 14.2 % in September than 14.7 % in August, as expected.

  • Kuroda vows end to deflation

    JAPAN, 2013/10/12 The Bank of Japan will do what is necessary to defeat deflation, BOJ Gov. Haruhiko Kuroda said, declining to discuss specific additional measures it may take. The central bank’s investment -purchase program has “been exerting its intended result, which is completely encouraging,” Kuroda said at the Council on Foreign Relations in New York on Thursday. “By continuing to pursue” this policy, he said, “we are convinced that we will definitely overcome deflation.” The benchmark Nikkei 225 stock average has gained 37 % this year through Thursday as the weakening yen helped boost profits of exporters from Toyota Motor Corp. to Sony Corp.

  • The Bank of Japan hold its monetary easing plan

    JAPAN, 2013/10/08 The Bank of Japan on Friday decided to hold its monetary easing plan unchanged while as well maintaining its economic assessment. At the end of a two-day conference of the nine-member Policy Board led by Governor Haruhiko Kuroda, the central bank said it will keep the target for the monetary base expansion at an annual pace of JPY 60-70 trillion. Additionally, with respect to its investment purchase program, the BOJ said it will continue to increase its purchases of Japanese government bonds at an annual pace of about JPY 50 trillion. The average remaining maturity of the bank's JGB buying will be around seven years. The Board's decision to refrain from any fresh policy moves was in line with expectations.

  • PM seeks Brunei’s investment in Bangladesh

    BANGLADESH, 2013/08/12 Bangladesh has sought Brunei 's investment in various potential sectors like oil, gas, textiles, leather, fisheries, power generation, jute manufacturing and agro-based industries. Prime Minister Sheikh Hasina on July 18 made the request at the same time as outgoing Ambassador of Brunei to Bangladesh Haji Abdul Razak bin Haji Mohd Hussaini called on her at her office. Next the conference, PM's Press Secretary Abul Kalam Azad briefed reporters.

  • French Foreign Minister Laurent Fabius

    INDONESIA, 2013/08/04 Visiting French Foreign Minister Laurent Fabius pledged on Thursday to boost France’s investment in Indonesia amid efforts by French energy giant Total to thwart national-owned oil and gas company Pertamina’s attempt to take over its concession in the oil-and-gas-rich Mahakam block in East Kalimantan. Fabius, who arrived with a business delegation, held a bilateral conference with his Indonesian counterpart, Marty Natalegawa, at the latter’s office in Jakarta. Speaking next the conference, Fabius highlighted the importance of Indonesia to France, particularly in the economic sector.

  • Emerging economies like India, China and Brazil; R&D

    CHINA, 2013/07/22 Emerging economies like India, China and Brazil have increased their R&D faster than developed nations but they have not been able to break into the top positions in world innovation, according to a statement. "Emerging markets have increased their R&D faster than high-gain nations. Over the last five years, China, Argentina, Brazil, Poland, India, Russia, Turkey and South Africa have been at the forefront of this phenomenon," the World Innovation Index (GII) 2013 released today, said.

  • Exim Bank India credit million to Vietnam

    INDIA, 2013/07/22  Export-Import Bank of India (Exim) has extended an additional line of credit of $ 19.50 million to the Vietnam government for financing two projects. "Exim Bank has, at the behest of Government of India, extended an additional LOC (line of credit) of $ 19.50 million to the Vietnam Government, for financing two projects in Vietnam," an Exim release said here. Exim Bank, till date, has extended three lines of credit (inclunding the new one) to Vietnam valued at $ 91.50 million, it said.

  • Cosco chief Wei Jiafu calls on Chinese to invest

    CHINA, 2013/07/03 Chinese group Cosco is evolving from a strategic investor in Piraeus into a strategic ally of Greece, as its chief, Captain Wei Jiafu, said on Thursday while signing the agreement for the expansion of Dock III of the country's biggest port that he will encourage other Chinese companies to make investments in Greece. The Chinese official and Greece's new Merchant Marine Minister Miltiadis Varvitsiotis signed a memorandum of cooperation for the western extension of the second dock that Cosco operates, one day next its official launch in Piraeus.
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