 EconomyLoop where regional business news becomes global to everyone  | ||
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| Iran’s rial hits record low against dollar Iran’s rial extended its slide yesterday, hitting a record low around 150,000 against the dollar, according to foreign-exchange websites, as the country’s economic fortunes ebb after the United States... read more
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| CIIF to mark 40 years of China’s reform The 2018 China International Industry Fair will host a summit on 40 years of international cooperation in manufacturing to mark the 40th anniversary of China’s reform and opening-up as well as the 20th... read more
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| China’s service trade jumps to new high to US$436b China’s service trade jumped to a new high in the first seven months of this year as the government has made more efforts to further bolster and open up the service sector.... read more
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| PBOC to raise support for small firms China’s central bank governor has said that the country will enhance support for small and micro-sized enterprises with better policy coordination.... read more
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| Services sector posts slower growth again Growth in China’s services sector weakened again in August as new business picked up only slightly from July’s more than two-year low, a private survey showed yesterday.... read more
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| Listed firms mirror economic gains STRONG performance of Chinese listed companies in the first half offered a glimpse into the strength and positive changes in the country’s economy. Listed companies on the A-share market were required... read more
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| Auto sales set for 2-3% expansion in 2018 China’s auto sales are set to grow 2 to 3 percent this year amid continuing weak market sentiment, Japanese investment bank Nomura said yesterday.... read more
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| Chinese shares end higher Chinese shares ended higher yesterday after the markets closed mixed on Monday.... read more
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| Suzuki to shift JV stake to Chinese firm Suzuki Motor Corp said it would transfer its 50 percent stake in a Chinese automaking joint venture to Chongquing Changan Automobile Co, as sluggish sales prompt the Japanese firm to retreat from the world’s... read more
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| US states with most to lose in China trade dispute A popular business news website in the United States on Monday published a list showing which states of the nation could be hit the most in trade disputes with China.... read more
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| Chinese team seals 25% of Dhaka bourse The Chinese consortium led by the Shenzhen Stock Exchange said yesterday that it has completed its acquisition of a 25 percent stake in Bangladesh’s largest bourse Dhaka Stock Exchange.... read more
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| US soybean farmers worry over tariffs war As the harvest season in the US midwestern state of Ohio is approaching, soybean farmers are sitting on pins and needles due to the ongoing tariff battle between the United States and its major trading... read more
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| ASD sees robots for smart production Shenzhen-listed Zhejiang Aishida Electric Co has invested more than 1 billion yuan (US$147 million) on smart manufacturing facilities that will feature industrial robots made by the company, Shanghai Daily... read more
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| China’s production cools to 14-month low China’s manufacturing activity cooled in August to a 14-month low as new orders have risen at the slowest rate since May 2017, said a private report yesterday.... read more
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| German automakers take on Tesla Mercedes-Benz is set to unveil its much-anticipated electric SUV today, marking the start of a German onslaught against Tesla’s dominance of the fast-growing market for premium battery cars.... read more
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| Ford to stop output of some models US automaker Ford Motor Co plans to drop production of some of its automobile models as part of a planned operational restructuring announced earlier this year, sources told The Times.... read more
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| Turkey’s central bank moves to calm market Turkey’s central bank signaled yesterday it would take action against “significant risks” to price stability, a rare move to calm financial markets after inflation surged to its highest in nearly a decade... read more
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| Chile’s upmarket wine quenches Chinese thirst China’s increasingly sophisticated wine consumers are attracting the attention of Chile’s upmarket wine producers.... read more
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| China and Mauritius seal FTA China and Mauritius are preparing for the final signing of a bilateral free trade agreement after concluding months-long negotiations on Sunday, the Ministry of Commerce said.... read more
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| Shanghai and Shenzhen finish mixed CHINA’S equities markets closed mixed yesterday, with shares of national defense and software companies performing well. The Shanghai Composite Index shed 0.17 percent to finish at 2,720.73. The barometer... read more
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| Online insurers’ premiums rise faster China’s online property insurance premiums rose faster in the first half of 2018, from the January-March period, official data showed.... read more
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| US$100b in controlled flow under QFII A total of 287 overseas institutions have received quotas amounting to US$100.46 billion under China’s Qualified Foreign Institutional Investors program to move money into the country’s capital account,... read more
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| JD.com CEO released after arrest in US Chinese e-commerce giant JD.com Inc said in a statement yesterday that Richard Liu, the company’s founder and chief executive, was falsely accused after he was arrested in the US state of Minnesota on... read more
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| Deficit in foreign service trade widens China continued to see a bigger deficit in foreign service trade in July, data from the State Administration of Foreign Exchange showed.... read more
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| Top 500 Chinese firms blossom China yesterday published the 2018 list of the top 500 Chinese enterprises, whose performance improved amid stable economic growth.... read more
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| China to curb disorderly investment in auto sector China will strictly prevent “haphazard investment and redundant development” in the automobile industry, an official from the state planning agency said on Saturday, apparently referring to proposed rules... read more
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| Haier’s net profit rises 10% to US$713m Qingdao Haier Co Ltd, one of the world’s leading home appliance makers, said its net profit in the first half of the year grew 10 percent to 4.86 billion yuan (US$712.5 million).... read more
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| Mobile payment for Chinese in UAE The United Arab Emirates payment solutions provider Network International has partnered with Alipay to provide mobile payment service to Chinese shoppers, the firm said on Saturday.... read more
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| Rail freight expands faster in H1 China’s railway freight volume, an indicator of broad economic activity, expanded at a faster pace in the first seven months of this year.... read more
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| US$40b of deals inked at expo Over 270.94 billion yuan (US$39.66 billion) worth of contracts were signed during the sixth China-Eurasia Expo in Urumqi, capital of Xinjiang Uygur Autonomous Region.... read more
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| Banking on credit cards China Construction Bank will offer differentiated credit card products and services to better serve the different needs of their retail customers, the lender said yesterday.... read more
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| Meet and link session for auto industry Exhibitors and buyers of automobiles and those involved in trade in services linked up at a matchmaking session yesterday for the China International Import Expo to be held in November in Shanghai.... read more
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| S&P puts NDB in ‘exceptional position’ STANDARD & Poor’s latest AA+ long-term and A-1+ short-term ratings on the New Development Bank will better position the lender to tap competitively-priced financial resources and cement its access to... read more
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| FTZ’s pavilions bridge product awareness SHANGHAI Free Trade Zone’s national (regional) pavilion program has helped over 20 countries and regions to introduce their products to local consumers. The FTZ’s national (regional) import goods exhibition... read more
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| Germany’s record low jobless rate stays Joblessness in Germany held firm at record lows in August, official data showed yesterday, as a robust economy kept companies hiring in Europe’s powerhouse.... read more
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| PetroChina’s net profit soars 114% China’s biggest oil producer PetroChina said yesterday its net profit more than doubled in the first half of the year as global crude prices soared.... read more
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| US consumer spending posts solid rise US consumer spending rose a solid 0.4 percent in July, the sixth straight month of healthy gains.... read more
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| Shares fall as investors become cautious SHANGHAI shares fell more than 1 percent yesterday as investors turned cautious and decided to wait and see after China’s banking regulator said it would control financial risks in rest of this year. The... read more
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| Fresh tax cuts announced to boost economy China is unveiling new tax cuts to boost the real economy while working to ensure full implementation of all existing tax reduction measures, a State Council’s executive meeting presided over by Premier... read more
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| James Bond carmaker eyes 25% share float Aston Martin yesterday said it plans to float one quarter of the British company on the London stock market, as demand rises worldwide for the luxury brand’s cars favored by fictional spy James Bond.... read more
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| US economy expands 4.2% in Q2 The US economy grew at a strong 4.2 percent annual rate in the April-June quarter, the best showing in nearly four years, as growth stayed on track to produce its strongest gain in more than a decade.... read more
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| Stocks dip amid thin trading Chinese shares dipped yesterday as titanium pigment producers and mobile game firms shed in thin trading.... read more
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| Stable growth pledge amid reforms Chinese policy-makers appear to be putting more focus on growth stabilization while continuing to push reforms as headwinds to the economy remain.... read more
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| Private firms signal growth of quality economy China’s private businesses have gained momentum in 2017, adding to positive signs of an economy that pushes forward high-quality growth.... read more
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| Electronics makers banking on AI to lift consumer sales Electronics manufacturers are betting on artificial intelligence weaving itself ever more tightly into our relationships with their products on show at this year’s IFA, the sector’s annual Berlin trade... read more
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| Bitcoin mining rig makers aim high via IPOs THREE of the world’s largest bitcoin mining equipment makers plan to raise billions of dollars with initial public offerings in Hong Kong, even as other companies report plunging demand for the chips... read more
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| Ag Solutions unit opens BASF China integrated its new Agricultural Solutions division yesterday, which aims to help customers have “access to even more tools to increase their yields, crop quality and profitability,” the division... read more
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| Caution clouds shares Shanghai shares closed flat yesterday after investors turned cautious following the surge in the key index on Monday.... read more
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| Bilibili achieves mixed Q2 results Shanghai-headquartered online video streaming and entertainment site Bilibili said revenue in the second quarter climbed 76 percent to 1.03 billion yuan (US$155.1 million), thanks to increased gaming income... read more
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| 68% of listed firms see net earnings grow in H1 A total of 68.2 percent of listed firms on the Shanghai and Shenzhen bourses posted year-on-year growth in net profits for the first half of 2018, the Economic Information Daily said yesterday.... read more
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