Asia

HSBC increases its focus on Asia while reducing its operations in the West.
30Jan mmBy Brian ThompsonNo Comments
Asia

HSBC increases its focus on Asia while reducing its operations in the West.

HSBC is intensifying its commitment to Asia by scaling back its investment banking operations in Western markets, a move that aligns with its long-term strategy of prioritising growth in the region. According to Reuters, the bank announced plans to wind down its mergers and acquisitions (M&A) and equity capital markets (ECM) divisions in Europe and North America, reinforcing its emphasis on serving Asian corporate clients. HSBC focuses on AsiaEarlier this month, HSBC chairman Mark Tucker (pictured) led a British business delegation to Beijing, where he spoke at the UK-China Financial Services Summit. Addressing Chinese Vice Premier He Lifeng, Tucker highlighted the importance of continued economic collaboration. The visit came amid HSBC’s ongoing efforts to strengthen ties wi...
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As tensions between the US and China increase, Malaysia links its fortunes to Singapore.
22Jan mmBy Brian ThompsonNo Comments
Asia, China, Singapore, USA

As tensions between the US and China increase, Malaysia links its fortunes to Singapore.

New special economic zone paves way for closer relations between one-time south-east Asian rivals As tensions ratchet up between two of Malaysia’s biggest trading partners, the US and China, the south-east Asian nation is increasingly looking to hitch its wagon to its more successful neighbour, Singapore. A special economic zone straddling the two countries — along with a raft of initiatives to build stronger ties — has been designed to help the pair withstand tougher global economic trading conditions. “We are entering a new era where global tensions are here to stay,” warned Singapore’s Prime Minister Lawrence Wong this month at the signing of an agreement to create the Johor-Singapore Special Economic Zone. “The world is becoming a more dangerous and troubled place. This...
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China Faces Deflation Risk as Consumer Prices Are Affected by Weak Demand
9Jan mmBy Brian ThompsonNo Comments
Asia

China Faces Deflation Risk as Consumer Prices Are Affected by Weak Demand

The Chinese economy has started the year slowly, looking weak with deflationary pressure rising from persistently soft domestic demand. Official data showed factory-gate prices falling for a second straight year in 2024, while consumer prices only rose marginally. A combination of job insecurity, a prolonged housing downturn, debt and tariff threats from the incoming administration of US President-elect Donald Trump has hit demand, even as Beijing ramps up stimulus. The full-year consumer price index (CPI) rose 0.2%, data from the National Bureau of Statistics showed, in line with the previous year’s pace and well below the official target of around 3% for last year, suggesting inflation missed annual targets for the 13th straight year. In December, the CPI crept up 0.1% y...
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India’s GDP is expected to increase 6.5% in the current and upcoming fiscal years, according to an EY research.
26Dec mmBy Brian ThompsonNo Comments
Asia, Market

India’s GDP is expected to increase 6.5% in the current and upcoming fiscal years, according to an EY research.

India’s economy is forecast to grow 6.5 per cent in the current and next financial years, despite headwinds from slowing private consumption and investment, an EY report said. Government capital formation has contracted sharply in the first half of the fiscal and needs to ramped up to meet 6.5 per cent growth, the report warned. Real GDP growth eased to a seven-quarter low of 5.4 per cent in July-September — the second quarter of the current 2024-25 fiscal year, against 6.7 per cent in the preceding quarter. This was primarily because two domestic demand components — private final consumption expenditure and gross fixed capital formation — together accounted for a fall of 1.5 percentage points. “One outstanding feature of demand is the slowdown in investment, as reflected in t...
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In what ways did India’s leading economic officials guide the country’s economy in 2024?
26Dec mmBy Brian ThompsonNo Comments
Asia, Market

In what ways did India’s leading economic officials guide the country’s economy in 2024?

Appointed as the 26th Governor of the Reserve Bank of India (RBI) on December 11 after serving as Revenue Secretary from December 2022 to 2024, where he played a pivotal role in key financial reforms and securing favourable Financial Action Task Force (FATF) evaluations for the country.Spearheaded financial infrastructure advancements as Secretary of Financial Services (February-November 2022) and contributed significantly to the energy sector as the Chairman and Managing Director (MD) of the Rural Electrification Corporation.In a career spanning over three decades, Malhotra has held critical roles in finance, taxation, and public policy, showcasing his leadership in driving financial inclusion and revenue enhancement.Did you know?Malhotra is an alumnus of Indian Institute of Technology (...
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The market for aviation services in Asia-Pacific will quadruple in the next 20 years.
24Dec mmBy Walter ParezNo Comments
Asia, Market

The market for aviation services in Asia-Pacific will quadruple in the next 20 years.

Singapore, 24 September 2024 – The commercial aircraft services market in the Asia-Pacific region will more than double in value to US$129 billion from US$52 billion today, by 2043 according to Airbus’ latest Global Services Forecast (GSF). This is driven by a demand for some 19,500 new aircraft for the region, supported by a compound annual growth rate (CAGR) of 4.81% in passenger air traffic in the region. Driven by the rise in annual air traffic, fleet growth and the requirement for more digitally-enabled and connected aircraft, the growth in demand for services will be reflected in solutions implemented across all phases of the aircraft from delivery to end-of-life, including fleet maintenance, aircraft modernisation and training. Among the various segments of the services bu...
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The UN climate meeting may be brought to life by Asia’s energy shift.
24Dec mmBy Brian ThompsonNo Comments
Asia, World

The UN climate meeting may be brought to life by Asia’s energy shift.

The 2024 United Nations Climate Change Conference (COP29) left a bitter taste in the mouths of developing country negotiators. Many felt betrayed by what Indian negotiator Chandni Raina called an ‘optical illusion’ of climate finance to build on. The United States and the European Union were clearly and rightly in the spotlight. But Asia’s climate finance commitments haven’t been close to historical highs either. Whether it was due to conservative governments in South Korea and New Zealand, arguably misaligned financing schedules in Japan or a pending election in Australia, the region’s traditional financiers have largely struggled in 2024. South Korea’s currently embattled conservative government contributed US$300 million to the Green Climate Fund in 2023 but only US$10 million in...
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23Dec mmBy Walter ParezNo Comments
Asia, Market, World

Malaysia Leads Southeast Asia in Digital Investments

Malaysia retained its position as Southeast Asia’s top data center hub in 2024, attracting $23 billion in investments and solidifying its status as a leading digital hub, Knight Frank said Monday. The global property consultant, in its Data Centre Research Report 2024, noted Malaysia ranked first in the SEA-5 Data Centre Opportunity Index for the second straight year, with an annual take-up of 429 MW, surpassing regional peers. Strategic investments from tech giants like Microsoft, Amazon Web Services (AWS), Google, and Oracle drove the growth, contributing $23.3 billion. Malaysia hosts 54 operational data centers with a combined capacity of 504.8 MW, led by Johor in IT capacity and Klang Valley as a core market. Emerging hubs include Sarawak, Negeri Sembilan, and Kedah. Malay...
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Libya is eager to hire more talented workers and experts from Bangladesh.
23Dec mmBy Brian ThompsonNo Comments
Asia, Market

Libya is eager to hire more talented workers and experts from Bangladesh.

DHAKA, Dec 23, 2024 (BSS) - Libya has expressed Libya's interest inrecruiting more Bangladeshi professionals and skilled workers to support itsdevelopment. The interest was conveyed when Libyan Ambassador to Bangladesh Abdulmutalib SM Suliman paid a courtesy call on Foreign Secretary Md Jashim Uddin atforeign ministry here on Sunday, said a ministry's press releases here. The envoy also conveyed Libya's intention to increase imports of Ready-MadeGarments and jute products from Bangladesh. During the meeting, both sides reaffirmed their commitment to strengtheningthe longstanding cooperation between Bangladesh and Libya, with a focus ondeepening economic ties as the two nations prepare to celebrate 50 years ofbilateral relations next year. The Foreign Secretary emphasized foste...
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Bangladesh inciting unrest to conceal a catastrophe
23Dec mmBy Brian ThompsonNo Comments
Asia, World

Bangladesh inciting unrest to conceal a catastrophe

Bangladesh’s economy is in a rapid nosedive, with over one million people becoming unemployed since August 5. Numerous commercial and industrial establishments are shutting down due to an acute liquidity crisis. This hampers entrepreneurs from opening Letters of Credit for importing essential raw materials and other items required for sustaining businesses. Meanwhile, dozens of ‘buying houses’ that coordinated the procurement of readymade garments from local factories for large buyers—mostly in the United States, Britain, and EU nations—have closed their offices. This is primarily driven by mob anarchy, rampant extortion, threats, intimidation, and a hostile environment that discourages foreign nationals, particularly Indians, from remaining in the country. Analysts warn Bangladesh ...
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