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Economic News

PostPosted: Wed Nov 08, 2017 4:20 am
by Andrea ForexMart
Shenzhen Topped as the Most Innovative City in China, says HSBC

Based on the new research led by the HSBC, companies that are located at Shenzhen in Southern China are considered the most innovative, even though a lot of traditional manufacturers shifted into the new economy along with the growing start-up sectors.

For ages, policymakers in the country are expecting for further innovation in order to heightened growth. This was reiterated by President Xi Jinping during his policy address during Chinese Communist Party’s 19th Congress in October, urging for greater modernization from Chinese firms and to acquire big data as well as to improve internet technologies and artificial intelligence.

The HSBC report assessed the “innovative power” of more or less 1,200 companies in China that were included in the list, the result shows that Shenzhen-based businesses obtained the highest average score. The main category for the assessment is gauged according to the range of its research and development investment statistics, total patent applications, as well as the inventive business model compared with other features.

The city was hailed as the most competitive urban in China, and ranked sixth most competitive all over the world, as shown in a separate data from the UN and the Chinese Academy of Social Sciences released last month.

Shenzhen is composed of more than one million private companies which includes business giants such as Tencent Holdings, BYD Auto Co., and Huawei and ZTE.

Other reports also presented that few of industrial provinces take after the ranking, particularly the plateau province of Shanxi, the northern Chinese province is known for its coal mining livelihood. Also, the northeastern Liaoning province is recognized for ferrous metals production and mining. The districts gained 34 percent and 29 percent in 2016, respectively, despite low levels of inflation.

Generally, the current “innovative power” from Beijing-based companies increased by 13 percent compared with the survey last year.

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PostPosted: Wed Nov 08, 2017 4:50 am
by Andrea ForexMart
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Re: Company News by ForexMart

PostPosted: Thu Nov 09, 2017 2:06 am
by Andrea ForexMart
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Economic News

PostPosted: Thu Nov 16, 2017 2:31 am
by Andrea ForexMart
PRC Besets with Bubble Risk Due to Excessive Reserves

The People's republic of China is confronted with bubble risk which was mainly due to higher money supply, as mentioned on Thursday by the deputy chairman of the economic and finance committee of the National People’s Congress.

Huang being the appointed deputy chairman is also considered as the top financial expert where he noted the necessity to change the reserve system of the country’s foreign exchange. At the same time, the central bank needs to be independent in implementing the monetary policy.


Economic News

PostPosted: Fri Nov 17, 2017 5:12 am
by Andrea ForexMart
Increasing Japan Exports in October due to High Export Demand

The exports from Japan are anticipated to increase for eleven consecutive months in October which would be supported by a strong demand from cars and electronic manufacturing machinery since they are the third biggest economy which is in the path to recovery according to the survey from Reuters on Friday.

The gross domestic product of the Asian country improved for seven uninterrupted months until the third quarter because of high exports demand such as cars and electronic parts within Asia and to the United States. Economists forecast that the economy will improve at a moderate pace as exports maintain the solid trend. Although, Japan is facing problems as they aspire to raise low consumer spending and inflation.

Exports are predicted to increase by 15.8 percent in October compared last year based on the survey of 20 economists because of overseas demand for cars and increase in semiconductor manufacturing tools.

Imports increased 20.2 percent in October than last year. This has been the quickest pace since January 2014 with more expensive oil prices which also increased the imports costs according to the survey.

The trade balance would possibly be at 330.0 billion yen or $2.93 billion in October. A decline was seen from the 667.7 billion yen in September. Exports are forecasted to continuously increase since the external factors are kept unchanged in the fourth quarter as mentioned by the chief market economist at SMBC Nikko Securities.

The finance ministry will publish the trade data at 8:50 a.m. Tokyo time on Monday (23.50 GMT Sunday). The latest economic data saying that Japan could get free from deflation which they were faced with for years according to the analysis from the government which was submitted to the advisory panel on Thursday.

The government of Japan is anticipated to publicized their economic schemes by end of the year with a goal to have a higher investment in skills training and more productivity.


Economic News

PostPosted: Tue Nov 21, 2017 1:22 am
by Andrea ForexMart
VAT Returns of Small Firms Incorporates to UK GDP Calculation

The Office for National Statistics evaluates the British economy by overhauling its way which includes huge VAT amounts from smaller companies for the first time. In the previous survey, the gross domestic product of the country was mainly based on the turnover of 45,000 largest firms. Since December, the data from the third of Britain’s 1.8m VAT returns will also be included in the turnover for the calculation of official GDP results.
With this, assessing UK economic growth will have dramatic changes for this could provide further insights from particular areas and industries. A higher proportion of VAT returns involves small businesses with a total of 98pc of UK companies.

In the past estimates of GDP, pubs and restaurants sectors, particularly "food and beverage service activities" have high levels according to the 172 monthly poll and 28,000 tax returns.
According to the ONS, a much more detailed data will provide a comprehensive output of pubs, restaurants and takeaways and restaurants among various regions. The first new estimate encompasses VAT returns coming from small and medium businesses including 100 or fewer headcounts. While survey for large companies will remain to be part of the data gathering and ONS’s report. As there is only 20 percent of smaller firms in the UK economy, which means that the data accumulated by the national statistical institute will be more accurate but the overall GDP result could possibly be not altered despite its inclusion because major firms have a greater impact.

Based on the perspective of PwC’s Economist John Hawksworth, it would be better if the Statistics authority will release GDP forecast “ with and without (the) use of the new VAT data" respectively, in order for the public to understand the difference. On the other hand, ONS chief economist Nick Vaughan announced that including additional information will be a gradual process.


Economic News by ForexMart

PostPosted: Tue Nov 21, 2017 7:00 am
by Andrea ForexMart
Record Low Drop of Aussie After RBA November Meeting

It is still unknown when will the Reserve Bank of Australia be able to return to sufficient wages which would lift weakened inflation. At the same time, commentaries from the board push the dollar to its lowest level in five months.

During the minutes of the Reserve Bank's Melbourne Cup day, it can be concluded that they are heedful that low unemployment rate could not be directly associated with the globalization and technology and put upward pressure on inflation.

The cash rate positioned at a historic low of 1.5 percent following the November meeting when board member expressed their uncertainty on wage growth. When the unemployment rate drops, the salaries are expected to have an incremental increase. This could have a cooldown effect on the diminishing surge of the mining sector. Although the board members expressed that uncertainty with the possibility of a wage pressure and the size of its effect on the inflationary pressure.

At the same time, tension coming from strong competition and a quicker rate in productivity pickup could hamper the push through of tighter labor market conditions to inflationary pressure.

Following the release of the meeting, the Aussie dollar dropped to 75.33 US cents from 75.58 US cents which have been the lowest level since June.

As mentioned, the board members see the competitive pressures effect on the outlook for inflation is predicted to decrease down to 2.25 percent but this is still within the target range of the central bank until the middle of 2019.

In effect, it seems that the food retailers and other enterprise adjusted their business models to able to cope with cost problems. It is anticipated that the pressure on retail margins and costs will remain for a while.

On the other hand, the board member also took notice that the wages growth weakened even though the supply in the labor market is declining. Hence, there is a chance that the current wage growth would not have a direct effect on the demand for labor and be less receptive to the changes in demands for labor.

The chief economist of Royal Bank of Canada Su-Lin Ong presumed that the wages growth will reach the lowest rate in 2017.

Considering the global trend, it cannot be clearly deduced whether the pace of wage growth could be maintained.

Ong mentioned that the RBA could hold the rates at a steady pace in 2018 and proceed with increasing their prices the year after and end with two percent cash rate. She noted other factors such as weak domestic demand and variability in housing that is still far from reaching its goals amid an excessive labor market would have a minimal effect to raise the cash rate from 1.5 percent in early 2019.

Re: Company News by ForexMart

PostPosted: Wed Nov 22, 2017 12:52 am
by Andrea ForexMart
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Economic News

PostPosted: Thu Nov 23, 2017 1:25 am
by Andrea ForexMart
Italian Economy Gradually Improves, says Dombrovskis

The economic situation in Italy is gradually improving, however, it is also important to cut down public debt, according to European Commission Vice-President Valdis Dombrovskis.

Dombrovskis is expecting that the economy will grow in 2018, otherwise, it will remain below the EU average. He mentioned that debt "remains a source of vulnerability" that holdbacks the GDP of the country by 3.8% for debt servicing.

The former Latvian prime minister stated that the Italian debt has a significant cost for the country as the current environment we are living has low-interest rates, however, changes in monetary policy upon an increase in inflation will heighten the costs which could further trigger instability. He also talks about the "structural problem" including stagnant growth and insufficient production which are the considerations with regards the reforms.

Moreover, the vice president added that there are some developments among the banks in Italy while the level of impaired credits suddenly declined this year. Due to the interposition of Banca Monte dei Paschi di Siena (MPS) and Veneto banks, there are more or less 44 billion euros to 13.5% of the overall stock of NPLs is withdrawing from Italy’s banking system.


Re: Company News by ForexMart

PostPosted: Fri Nov 24, 2017 12:04 am
by Andrea ForexMart
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