China grew 6.9 percent in 2015 indicating the slowest growth rate in 25 years. The growth rate was 6.8 for the fourth quarter of 2015. The world's second largest country recorded 7.3 percent growth rate in 2014. Investors are cautious about the impact of slowdown in China's economy. IMF forecasts China's economy growth rate at 6.3 percent in 2016 and six percent in 2017. Chinese government has set a target of seven percent growth for 2016.
Asia/Pacific
South Korean Won retreats from 5-year low
South Korean currency Won has been volatile as it hit five-year low and recovered marginally. Won was tracking to Chinese currency Yuan as the dragon country is the major foreign market for South Korea. China's GDP rose 6.8 percent during fourth quarter marginally lower than the forecast of 6.9 percent. This disappointed the market.
Chinese Venture Capital Cocoon Networks Open a $700M Fund in London
Cocoon Networks, a Chinese-backed venture capital group is setting up a £500 ($700) million fund in London. The fund is aimed to invest in European tech startups.
Indian Rupee at 2-month high on rising outflows
The Indian currency Rupee against the US dollar rose to highest since November 2015 on increasing outflows from Indian stocks and bonds. The Chinese markets were witnessing selloff and this also resulted in further withdrawal by foreign investors in Indian markets. The net outflow from Indian markets in January so far was at $686.2 million putting more pressure on currency reserves.
China Confirms Detention of Missing Hong Kong Publisher, Suspicion On Chinese Atrocity Widens
The Chinese Police has confirmed that Lee Bo, the missing Hong Kong publisher has been held by Guangdong Provincial Public security department. Lee and four others, connected with a publishing house and bookstore, has remained disappeared for couple of days. The publishing house’s books are banned in mainland China allegedly for criticizing the communist party leaders.
Latest News
Local carpooling app Ryde, which started in September 2014, has announced plans to expand to Hong Kong. Ryde app helps cut road congestion, pollution, and commuting cost.
With the lifting of international sanctions from Tehran, India would be able to recommence its unobstructed oil import from the Persian Gulf country. Iran is anticipated to boost its oil export of 1.1 million barrels per day by 500,000, according to the Indian Oil Cooperation.
China is set to report its weakest full-year growth figure in 25 years. The official GDP data will be published by China’s National Bereau of Statistics on Tuesday.
The overall slow in the Chineses economy does not hurt General Motors' growth in the market. China still remains the largest market for General Motors, according to its president Daniel Ammann.
Takeda is a global pharmaceutical founded by Chobei Takeda I in 1781 in Osaka, Japan. The company focus on innovative medicine in gastroenterenterology, cardiovascular and metabolic, as well vaccine.
21MW Solar Power Station will be built in Saga Prefecture by two leading Japanese company. Solar power becoming an important national project since the country’s shift in policies after Fukushima in 2011 to solar energy
Chairman of China Securities Regulatory Commission (CSRC) was reported to offer his resignation. Xiao Gang handed his resignation last week following a failure in executing circuit breaker system in China stock markets.
As oil price continues to plunge, two Japan airlines:Air Nippon Airways (ANA) and Japan Airlines (JAL) decided to eliminate fuel surcharge. This will trim the airline tickets price substantially. Both airlines are also actively searching for alternative fuel.
Survey said that Southeast Asian children are 20% more active when it comes to mobile devices than U.S children, making them the most digitally engaged in the planet.
