economy slowdown

China's budget airline spread wings to cover more routes

The cost-cutting measures at corporate companies are creating more demand for budget airlines in China. A majority of business travellers are also preferring to fly by budget carriers. The four budget airlines are making profits in Chinese domestic aviation. The budget airlines account for seven percent of China's domestic air travel and is expected to grow over 100 percent in next five years.

Macau's GDP sinks 24% in Q3

Macau's GDP fell over 24 percent in the third quarter. The continuous drop in gambling revenues, which account for two-thirds of its economy, has been taking a toll on Macau for the past 17 months. Chinese government's campaign against corruption and drop in VIP visitors are major reasons from dwindling gambling volume at casinos.

Chinese buyers step back from US housing market

After witnessing peak level this year, the Chinese investments in the US property markets have suddenly changed the direction. The Chinese government's restrictions on capital outflows and devaluation of Yuan have become major hurdles for the dragon country's investments in the US housing sector. The economy slowdown and sluggish financial markets were prime reasons tha propelled Chinese investors to invest heavily in overseas markets mainly the US, London and Canada.

Japanese auto majors may post encouraging quarterly results

Japanese automobile majors Toyota, Nissan and Honda are upbeat on performance as surges in US sales and weaker Yen are adding to their profits. The market analysts are closely watching second quarter and third quarter results to ascertain future outlook for 2016. The US and China markets account for one-third of total sales of Japanese automobile majors.

China Resources to offload stake in Wal-Mart China for $525mn

China Resources is offloading its stake in Wal-Mart China operations. Wal-Mart has 21 stores across China. The 35 percent stake sale value is pegged at $525mn. Wal-Mart says the minority stake selling doesn't impact its operations in China.

World Bank sees global poverty to slip below 10% for first time

The poverty percentage in the world population is poised to drop below 10 percent in 2015 for the first time, forecasts World Bank, which has raised the benchmark of international poverty line to $1.90per day from $1.25 a day in 2005 after taking Purchasing Power Parity (PPP) into consideration.

Will China impose a punitive tax on forex trades?

A senior Chinese official in an official magazine China Finance suggest the Chinese government to impose punitive leve or Tobin tax on forex transactions in Yuan. This suggestion has been made to reduce trading in the Chinese currency thus arresting the fall in forex reserves. Chinese government is offloading huge amounts of US dollars to supprt the falling Yuan ever since its devaluation on 11 August.

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