Global 

China economy grows faster than expected in first quarter on strong industrial production

China’s economy grew 6.4 per cent in the first quarter compared to a year earlier, the joint-slowest growth rate since quarterly growth records began to be published 27 years ago, according to official figures released on Wednesday, but beating analysts’ expectations.This beat the median forecast of a Bloomberg survey of economists, which predicted gross domestic product (GDP) growth would slow to 6.3 per cent for the quarter.However, it falls within the government’s growth target range of… Source link

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Home 

Singapore investment holding firm United Industrial raises stake in Marina Centre for S$485 million

United Industrial Corporation, a subsidiary of UOL Group, is acquiring a further 24.27 per cent stake in indirect subsidiary Marina Centre Private Holdings (MCH) for S$485.3 million (US$358.86 million), to be paid in cash. It already owns a 53.07 per cent stake in MCH.The acquisition is being made through the purchase of shares from the following vendors – 10 per cent from OUE for S$200 million, 10.27 per cent from Finnegan Investments for S$205.3 million and 4 per cent from Mackmoor for US$80… Source link

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Cà Mau seeks to prevent gas shortage at industrial complex – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The People’s Committee of Cà Mau Province has come up with several solutions to supply the predicted shortage of one billion cu.m of gas at Cà Mau’s Gas- Power-Fertilizer Industrial Complex.   — VNA/VNS Photo Huỳnh Thế Anh     CÀ MAU— The People’s Committee of Cà Mau Province has asked the Ministry of Industry and Trade to ensure sufficient gas supply for Cà Mau’s Gas-Power-Fertilizer Industrial Complex, which is expected to have a serious shortage by September, according to Nguyễn Tiến Hải, chairman of Cà Mau’s People’s Committee.…

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Investors, developers eye Hong Kong industrial buildings built before 1987 after city relaxes conversion policy

Property owners, investors and developers are taking advantage of a recent policy relaxation by the Hong Kong government, which seeks to encourage the conversion of old industrial buildings for commercial purposes, to generate higher rents and resale prices.Hong Kong textiles company Lawsgroup, for instance, last week began demolition at Maxwell Industrial Building, a property it owns in Kwun Tong, after receiving approval from the city’s Town Planning Board last month. It acquired the property… Source link

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Vietnam 

Nation’s industrial production surges in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Coke is loaded onto a truck to be transported to factories in the northern province of Quảng Ninh. Coke production posted high IIP growth in the first quarter of this year. Photo vietphatjsc.com.vn Viet Nam News HÀ NỘI – The national industrial production index (IIP) saw a year-on-year increase of 9.2 per cent in the first quarter of this year, according to the General Statistics Office (GSO). The positive growth was fuelled by the processing and manufacturing industry which increased remarkably by 11 per cent compared to the same…

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Vietnam 

Quảng Bình secures over US$2 billion in economic, industrial zones – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Ha Quang Export Garment Factory in Đồng Hới City, Quảng Bình Province. Quảng Bình’s industrial parks and economic zones attracted $2.15 billion in the first quarter. — Photo baoquangbinh.vn Viet Nam News QUẢNG BÌNH — Industrial parks and economic zones in the central province of Quảng Bình have attracted nearly VNĐ50 trillion (US$2.15 billion) in 122 projects in the first three months of this year, chinhphu.vn reported. Of this, foreign investors poured $18.2 million into three foreign direct invested (FDI) projects. Head of the provincial Economic Zone Management Board…

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China 

China’s economic concerns mount as industrial profits crash to lowest since 2011

China’s industrial companies saw their profits fall by 14 per cent in the first two months of the year as the impact of the trade war with the United States and widespread economic slowdown continued to take root.Industrial profits stood at 708 billion yuan (US$105.4 billion) for January and February, according to figures released by the National Bureau of Statistics (NBS) on Wednesday.This was the worst performance since October 2011, when the method for measuring industrial profits was… Source link

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Vietnam 

Taiwanese firms invest $30 million in Bình Phước’s industrial park – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

DDK Vietnam and Minh Hưng Sikico Industry JSC sign a co-operation agreement on promoting investment in the Minh Hưng Sikico park. — Photo tapchicongthuong.vn Viet Nam News BÌNH PHƯỚC — Three Taiwanese-funded enterprises on Thursday signed deals to invest a total of US$30 million at the Minh Hưng Sikico industrial park in the southern province of Bình Phước. The capital will be channeled into several textiles-fabric projects. At the signing ceremony, the Taiwan-based industrial investment limited company DDK Vietnam and Minh Hưng Sikico Industry JSC inked a co-operation…

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Vietnam 

Ministry to look into cutting industrial energy use – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Industry and Trade (MoIT) plans to focus its investigations on businesses that use high volumes of energy as part of its mission to save energy. Trịnh Quốc Vũ, deputy director of MoIT’s Department of Energy Saving and Sustainable Development, said the industrial sector accounted for more than 47 per cent of the country’s total energy consumption. “There are many technical solutions to save energy in the industrial sector in Việt Nam,” Vũ said. “Energy use can be cut…

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China 

China economy slows further as industrial output growth slumps to lowest in a decade

China’s economy slowed further in the first two months of 2019 as the growth of industrial production fell to its lowest rate in a decade.Industrial production growth slowed to 5.3 per cent in January and February compared to the same period last year, down from 5.7 per cent growth in December, according to data released on Thursday by the National Bureau of Statistics (NBS). The result was below the 5.6 per cent expected by analysts in a Bloomberg survey.The January and February output growth… Source link

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