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Japan's financial industry embracing AI
May 18, 2017--Brokerages, stock exchange see new tech providing extra edge
From chatbots to detecting suspicious stock trades, members of Japan's financial industry are adopting a variety of new artificial-intelligence-based technologies to improve their clients' experience and focus manpower on more urgent tasks.
SMBC Nikko Securities is adopting a chatbot system developed by NTT Communications that uses AI to automatically respond to clients through the Line messaging app.
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Source: asia.nikkei.com
Japan racks up longest growth streak in over a decade
May 18, 2017--Japan is enjoying its longest run of economic growth in more than a decade.
The world's third largest economy expanded 2.2% in the first three months of the year, according to official data Thursday, up from 1.4% in the previous quarter.
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Source: CNN.com
China pledges $124 billion for new Silk Road as champion of globalization
May 14, 2017--Chinese President Xi Jinping pledged $124 billion on Sunday for his new Silk Road plan to forge a path of peace, inclusiveness and free trade, nd called for the abandonment of old models based on rivalry and diplomatic power games.
Xi used a summit on the initiative, attended by leaders and top officials from around the world, to bolster China's global leadership ambitions as U.S. President Donald Trump promotes "America First" and questions existing global free trade deals.
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Source: Reuters
Asia's Dynamic Economies Continue to Lead Global Growth
May 9, 2017--The Asia and Pacific region continues to deliver strong growth, in the face of widespread concerns about growing protectionism, a rapidly aging society, and slow productivity growth, according to the IMF's latest regional assessment.
The Regional Economic Outlook for Asia and the Pacific estimates growth for the region to increase this year to 5.5 percent from 5.3 percent in 2016. Growth will remain strong at 5.4 percent in 2018, as the region continues to be the leader of global growth.
view the IMF Regional Economic Outlook: Asia and Pacific Preparing for Choppy Seas
Source: IMF
China bond issuance collapses as Beijing squeezes liquidity
May 7, 2017--Efforts to combat 'chaos' in financial system takes toll on corporate fundraising
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Source: Wall Street Journal
China commodities prices drop as liquidity tightens
May 5, 2017--The price of iron ore in Dalian led a charge lower by China commodities on Thursday as short-term borrowing costs on the mainland continued to rise, the Financial Times reports.
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Source: chinaeconomicreview.com
Renminbi is merely pausing, not retreating, in its global growth
May 4, 2017--China's move to tighten controls has reduced international use of the currency
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Source: FT.com
Philippines Economic Update April 2017
May 4, 2017--STORY HIGHLIGHTS
The Philippine economy remained resilient to global headwinds in 2016.
The rapidly growing domestic economy has yielded substantial gains in employment and poverty reduction.
The Philippines' growth outlook remains positive but subject to downside risks.
Economic and policy developments
The Philippine economy remained resilient to global headwinds in 2016. While a slower-than-expected global recovery weakened net exports, surging domestic demand pushed the annual GDP growth rate to 6.8 percent, year-on-year. Investment drove economy-wide growth for the first time since 2013, as the government's expansionary fiscal-policy stance helped capital formation to expand by 20.8 percent year-on-year led by the construction sector. Consumption growth remained strong as accommodative monetary policies kept interest rates low, supporting a double-digit expansion in consumer lending.
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Source: World Bank
China's $11trn economy and markets are in a tug of war
May 2, 2017--China's run of solid economic indicators have proved little consolation for its shaky financial markets.
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Source: FIN24
China's short-term money market rate hits 2-year high
April 28, 2017--Clampdown on shadow banking practices pushes up borrowing costs.
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Source: FT.com
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