China inflation rate at 6-month low of 1.5% in January
Businessam Staff
February 12, 2018
China’s consumer prices rose by 1.5 percent year-on-year in January of 2018, after a 1.8 percent rise in the prior month and matching market consensus. It was the lowest inflation rate since July 2017, due to a slowdown in the cost of non-food and a further fall in the cost of food. Politically sensitive food […]
E-commerce giant Alibaba to invest $865m in China home improvement chain
Businessam StaffFebruary 11, 2018
Alibaba Group Holding Ltd. plans to buy a 15 percent stake in a chain of Chinese home improvement and furniture stores as part of its pushing into “new retail,” the company said Sunday. The e-commerce giant will invest about 5.45 billion yuan ($865 million) in Beijing Easyhome Furnishing Chain Store Group Co., and support the […]
Singapore to attract $10bn investments in 2018, but with fewer jobs
Businessam StaffJanuary 30, 2018
Singapore is expected to attract $8 billion to $10 billion in fixed asset investments in 2018, comparable to the previous two years, the Singapore Economic Development Board said at its year-in-review briefing on Tuesday (Jan 30). But the number of jobs this will generate is forecast to be lower than in the past two years, […]
China orders banks to stop financing cryptocurrencies, cracks down on traders.
Businessam StaffJanuary 20, 2018
The People’s Bank of China has ordered financial institutions to stop providing banking or funding to any activity related to cryptocurrencies, further tightening the noose since its shutdown of crypto exchanges last September sent digital currency enthusiasts fleeing overseas. “Every bank and branch must carry out self-inspection and rectification, starting from today,” according to a […]
China now “hub of global supply chains”- IMF official says
Businessam StaffJanuary 16, 2018
China, a key trading partner for over 100 countries, has become a hub of global supply chains, a senior official of the International Monetary Fund (IMF) said here on Monday. “The Chinese success story is deeply intertwined with the fortunes of the world economy,” IMF First Deputy Managing Director David Lipton said, adding that as […]
China leads 2017 global shipbuilding industry
Businessam StaffJanuary 15, 2018
China ranked first in three indices measuring the development and the capacity of a country’s shipbuilding industry in 2017, official data showed. China’s completion rate of ships reached 41.9 percent of the global total, according to the Ministry of Industry and Information Technology (MIIT). The country also had 45.5 percent of global new orders and […]
China eyes AI leadership in 2025 as it develops $2bn technology park
Businessam StaffJanuary 3, 2018
China has announced its plan on Wednesday to build a $2.1 billion (13.8 billion Yuan) technology park dedicated to developing artificial intelligence (AI), its state-backed news agency Xinhua said. Covering 54.87 hectares, the technology park to be constructed within five years and situated in the suburban Mentougou district in western Beijing, will be home to […]
China to maintain ‘prudent’ monetary policy in 2018, says central bank chief
Businessam StaffJanuary 1, 2018
China will maintain prudent monetary policy and reasonable loan growth in 2018, central bank chief Zhou Xiaochuan said in comments published on Sunday. In a new year’s message, Governor Zhou said that in 2017 the People’s Bank of China had strengthened macroeconomic controls, deepened financial reform, prevented systemic financial risks and promoted finance to serve […]
Korea December inflation speeds up as global oil prices rise
Businessam StaffDecember 29, 2017
South Korea’s annual inflation accelerated in December to its fastest in three months as rising global oil prices lifted the cost of petrochemical and other industrial products, but with few implications seen for monetary policy. Statistics Korea said, according to Reuters, the consumer price index rose 1.5 percent in December from a year ago, in […]
China plans to dominate robot, smart car and railway industries by 2020
Businessam StaffDecember 27, 2017
China has unveiled three-year plans to increase the country’s economic competitiveness by developing “key technologies” in nine industrial sectors from robotics to railways. The initiatives mark Beijing’s latest efforts to develop industries it deems will play a significant role the in the country’s economic development in the future. Among the plans published by the National […]