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AirAsia says it may set up base in Macau, the first overseas carrier to throw its hat in since the end of Air Macau’s monopoly in January

AirAsia, the region’s largest low-cost carrier, may set up a base in Macau to serve Chinese travellers, becoming the first foreign airline to throw its hat into the ring since a January policy that ended Air Macau’s quarter-century monopoly in the gambling hub.“Entering China could be via Macau,” said AirAsia’s founder and chief executive Tony Fernandes, in an interview with South China Morning Post during Credit Suisse’s Asia Investment Conference in Hong Kong. “We do not have to be in… Source link

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Hong Kong’s January home prices advance, taking a breather from a five-month decline

Hong Kong’s home prices took a breather in January from their five-month drop, vindicating earlier predictions by some analysts that transaction values could reverse last year’s 9.2 per cent decline.The overall price index of pre-owned homes rose by less than a tenth of a percentage point to 359.5 last month, after having dropped 9.2 per cent from August to December, according to data by the Rating and Valuation Department.The halt in the decline had come earlier than the expectations of… Source link

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Vietnam 

VN’s January trade turnover at highest level in years – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The textile and garment, equipment and parts, and footwear sectors contributed the most to January’s positive performance. — Photo vneconomy.vn Viet Nam News HÀ NỘI — Việt Nam’s trade turnover reached US$43 billion in the first month of 2019, the best January performance seen in the last few years, according to the General Department of Vietnam Customs. This figure is $2.9 billion higher than in January 2018 and nearly double the average figure of $23 billion per month recorded in the 2012–18 period. In addition to the…

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Vietnam 

January auto imports 46 times higher than last year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Cars at the Chu Lai-Trường Hải Automobile Manufacturing and Assembly Complex in the central province of Quảng Nam. — VNA/VNS Photo Viet Nam News HÀ NỘI — Việt Nam imported nearly 11,700 cars worth more than US$273 million in the first month of this year, marking the fifth consecutive month with a volume of at least 10,000 units, according to statistics from the General Department of Customs. This figure is about 46 times higher than in January last year, which saw particularly low import numbers – just 246…

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China 

China’s Premier Li Keqiang warns central bank of ‘new potential risks’ posed by record loans in January

Premier Li Keqiang has warned of the “new potential risks” that China’s record level of new loans in January could bring to the financial system.The People’s Bank of China (PBOC), China’s central bank, confirmed that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month, almost triple the 1.08 trillion yuan (US$160.8 billion) of loans in December and beating the 3.06 trillion yuan from the same period last year.Total social financing, the more broadly defined measure of… Source link

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China 

China's January passenger car sales in biggest drop in seven as worries over economy, spending deepen

China’s passenger car sales fell 17.7 per cent last month from a year earlier to 2.02 million units, marking the lowest January sales since 2012.Data from the China Association of Automobile Manufacturers showed that there was a 15.8 per cent decline in total vehicle sales in China in January to 2.37 million units.It is the seventh straight monthly decline in the world’s largest car market, and adds to wider concerns over domestic consumption and economic growth.Global carmakers such as… Source link

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Global 

Singapore’s January exports to China collapsed in ‘very worrying’ development for both economies

Singapore is feeling the pinch of China’s economic slowdown as exports to the mainland collapsed in January.Non-oil exports to China showed a dramatic fall in January, crashing by 25.4 per cent, while Singapore’s oil exports to China plummeted by 30.8 per cent, showing a broad-based decline, and sparking concern about the economic prospects of both nations.Sales of gold to China collapsed by 94.9 per cent, while specialised machinery exports fell 55.2 per cent and measuring instruments fell 40… Source link

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China 

China’s loans hit all-time high as banks open floodgates in January to help slowing economy

New loans in China surged to an all-time high in January, highlighting Beijing’s scramble to bolster economic activities at home amid the trade war with the United States. The People’s Bank of China (PBOC), China’s central bank, said on Friday that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month. The figure almost tripled the 1.08 billion yuan (US$159.48 million) of loans in December, while also beating the 1.6 trillion yuan (US$236.27 billion) of loans issued in January 2009 when Beijing looking to put growth on track…

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China 

US exports to China plunged in January as trade war chill took effect

Trade flows between China and the United States are shrinking quickly as officials scramble for a deal that would end the trade war. Chinese imports of US products plunged 41.1 per cent from a year earlier to US$9.2 billion last month, the lowest since February 2016, according to data released by the Chinese General Administration of Customs on Thursday. The fall in US exports to China contrasted sharply with the China’s overall imports last month, which remained largely steady with only a 1.5 per cent fall year-on-year. According to Chinese…

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China 

US investment in China more than doubles in January despite trade war, hi-tech industry grows significantly

Investment into China from the United States more than doubled in January, with the hi-tech industry witnessing the most significant increase. Overall growth in China’s foreign direct investment (FDI) slipped to 4.8 per cent from a year earlier to 84.18 billion yuan (US$12.45 billion) in January, according to figures released by the Ministry of Commerce on Thursday. Investment from the United States increased by 124.6 per cent, while the Netherlands by 95.6 per cent, the United Kingdom by 13.7 per cent and Hong Kong by 6.5 per cent also increased.…

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