Singapore Tourism Grows to S$6 Billion
Tourism in Singapore has grown 5 percent year-on-year to S$6 billion. Receipts for the first three months of 2014 reflect this growth.
Relations between Argentina and China to Reach “New Horizons”
Relations between Argentina and China are poised to reach unprecedented “new horizons,” Chinese President Xi Jinping told lawmakers in Buenos Aires during a summit visit late July.
China Studies Possibility of Floating Gas Plants
Chinese energy giant CNOOC Group is studying the possibility of building a multi-billion-dollar floating liquefied natural gas (FLNG) vessel, as-yet untried technology that would likely be used to produce gas from the deep waters of the South China Sea.
Asia Commercial Real Estate set to Boom
Transaction volumes of commercial real estate in the Asia-Pacific region are set to rise dramatically in the second half of this year.
Singapore 4th Most Expensive City in the World for Expats
Singapore has climbed one place to become the fourth most expensive city in the world for expatriates.
Malaysia Banks in Mega-Merger Talks
Three of Malaysia’s largest financial institutions are in talks to combine their businesses, in a move that would create one of southeast Asia’s biggest lenders by assets as well as build what they said would be a “mega Islamic bank”.
China’s Exports Rise 7.2%
China’s exports trailed estimates in June, suggesting support for growth from global demand will be limited as leaders try to defend their economic-expansion goal of about 7.5 percent this year.
Singapore Takes the Top Spot for International Visitor Spending
Singapore has overtaken Bangkok to take the top spot for international visitor spending in the Asia Pacific, MasterCard has reported.
China Services Sector Sees Boom
Activity in China’s services sector expanded at its fastest pace in 15 months in June, reinforcing signs that the broader economy is stabilising.
China Auto Sales Rise 14% as Foreign Brands Target Small Cities
Passenger-vehicle sales in China rose last month, as foreign automakers stepped up their push into smaller cities with cheaper models in a challenge to local carmakers, Bloomberg reports. Retail deliveries of cars, multipurpose and sport utility vehicles climbed 14 percent to 1.47 million units in June, the Passenger Car Association said on its website in early July. For the first six months, sales rose 11 percent to 9.09 million. Foreign automakers are targeting China’s smaller cities as the country’s major population centres increasingly restrict the number of passenger vehicles to curb pollution and congestion. That’s led to the introduction of cheaper models to compete with local carmakers, which have struggled to stem a loss in market share in the world’s largest auto market. “Automakers are focusing their product launches on the lower- and mid-end of the market,” said Harry Chen, a Shenzhen-based analyst at Guotai Junan Securities Co. Ltd. “When new products come into the market, it stimulates sales.” General Motors Co. (GM) introduced the Aveo subcompact sedan last month, while Volkswagen AG started sales of the new Polo compact sedan at the end of May, according to the companies. At a starting price of 73,900 yuan ($12,000), the Aveo is cheaper than BYD Co. (1211)’s G6 sedan and compares with the 68,800 yuan price tag for Geely Automobile Holdings Ltd. (175)’s EC7 sedan, according to pricing data from GM and car-shopping website autohome.com. The competition is eating into the market share for Chinese brands. China’s local marques accounted for 21.5 percent of industry car sales…
