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Economy in Asia

  • Economic Freedom: Hong Kong, Singapore On Top, US Falls In Ranking

    EUROPE, 2013/09/21 The United States has fallen 15 places since 2000 in a world ranking of economic freedom, while Hong Kong and Singapore maintained their top spots. The "Economic Freedom of the World" statement 2013, compiled by Canada's Fraser Institute, ranks Hong Kong initial with an in general Economic Freedom Rating of 8.97, followed by Singapore (8.73). In the area of credit market regulations, both the East Asian City States scored 10 out of 10. The United States is positioned as the world's 17th freest economy behind nations such as New Zealand, Switzerland, United Arab Emirates, Mauritius, Finland, Bahrain, Canada, and Australia, who are in the top ten.

  • Myanmar Security Law and obtaining loans from Japan and the World Bank

    MYANMAR, 2013/09/10 Next amending the 1996 Myanmar Security Law and obtaining loans from Japan and the World Bank, the Thein Sein government declared that the Yangon Stock Exchange would be opened by 2015. Meanwhile, the World Bank reported that about 75 % of the people has no access to electricity. Is the Yangon Stock Exchange a viable priority for one of the world’s most financially impoverished nations? The Yangon Stock Exchange is an unwise policy priority for the Thein Sein government; it highlights Burma’s lack of considerate about reform-minded policy making, regulation and globalisation. The Thein Sein government started its second phase of economic reforms during the world financial crisis.

  • Post-election scenarios in India

    INDIA, 2013/09/10 The Indian National Congress, the leading party in India’s ruling coalition, has lost its Teflon coating thanks to a series of scams and its mishandling of the economy and national security. The prospects of the opposition Bharatiya Janata Party (BJP) have improved as a result, though not in proportion to the widespread disenchantment with the Congress. In any case, neither party is capable of winning a majority of seats at the next parliamentary election, meaning the next government will be inevitably a coalition government. But the generational shift underway in family-governed regional parties across India will make coalition politics additional unpredictable. The country is faced with five possible post-2014 election scenarios.

  • Strategic zones to revitalise the Japanese economy?

    JAPAN, 2013/09/10

  • Maldives Election

    MALDIVES, 2013/09/09 Mr Nasheed, a British-educated scuba-diving fanatic who once held a cabinet conference under water, is contesting again and is seen as the clear frontrunner part the four candidates in the Republic of the Maldives in the Indian Ocean. Tourism is the major and most essential industry in this island country. Mr Nasheed however did not get enough votes to avoid a run-off election. Political problems had put a dent into the otherwise booming travel and tourism industry over the years. Voters across the Maldives have come out in force to vote in an election that could see the honeymoon islands' initial freely elected leader return to power, 18 months next he was toppled in a coup.

  • India workers Near Jorhat Assam

    INDIA, 2013/08/31 India's increase weakened additional-than-expected in the June quarter to the lowest in four years as a downturn in the industrial sector weighed on in general output, adding to the woes of an economy facing the challenges of a rapidly depreciating currency and deteriorating investor morale. Weak external request, falling investment , and a spiraling current account deficit from gold and oil imports have been acting as a drag on the economy that expanded at an above-potential 8 % a few years ago. Gross domestic product (GDP) rose 4.4 % annually in the three months ended June, notably weaker than the previous quarter's 4.8 % increase, initial estimates from the Central Statistics Office showed Friday.

  • Philippine Economic Growth Tops Expectations

    PHILIPPINES, 2013/08/30 The Philippine economy expanded additional than expected in the second quarter, supported by the country's resilient service sector, government data showed Thursday. However, the pace of increase was weaker than that in the preceding quarter. The gross domestic product grew 7.5 % year-on-year in the second quarter, the National Statistical Coordination Board said. Economists expected a weaker increase of 7.2 %. Nevertheless, the increase slowed from March quarter's downwardly revised 7.7 % expansion amid lackluster foreign trade.

  • Gov't looks for foreign workers; Myanmar an option

    MYANMAR, 2013/08/28 Myanmar is part the locations being looked at as a new source of foreign labor, however there is no timetable for recruitment, Bureau of Employment and Vocational Training (BEVT) Director-General Lin San-quei (林三貴) said yesterday. The comments came next reports that the bureau, which is under the Council of Labor Affairs (CLA), will begin recruiting workers from Myanmar in 2014. Lin said that Taiwan has been experiencing industrial shift in the completed few years, resulting in growing request for foreign labor. In light of a potential shortage in this area, the bureau is looking for new sources, inclunding in Sri Lanka, Myanmar and Thailand.

  • Economic indicator returns to yellow-blue light

    TAIWAN AREA, 2013/08/28 Taiwan's in general monitoring indicator dropped 3 points to 20 in July and flashed a “yellow-blue” signal, signifying an economy transitioning from sluggish to stable, according to a statement released yesterday by the Cabinet's Council of Economic Planning and Improvment(CEPD, 經建會). CEDP Department of Economic Research Director-General Hung Jui-bin (洪瑞彬) said that the indicator showed that “the economy lacks recovery momentum.” In June, the in general monitoring indicator flashed a “green” signal, signifying a stable economy. Before June, the indicator had flashed yellow-blue signals for nine consecutive months.

  • Bank of China and Sinohydro add to Chinese presence in Portugal

    CHINA, 2013/08/15 Portugal continues to attract large Chinese companies interested in the European market inclunding the Portuguese-speaking African markets, and presently both the Bank of China and Sinohydro are moving into the country. At the height of the financial crisis and at a time at the same time as Portuguese companies are making great efforts to attract foreign investment , China is the major source of those investments, starting in 2011 with China Three Gorges buying a stake in Portuguese power company EDP – Energias de Portugal and China National Grid Corp buying a stake in Portuguese power grid company Redes Energéticas Nacionais (REN).
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