Huawei cloud service sees robust growth in Bangladeshi market
DHAKA, – China’s telecom giant Huawei on Wednesday said its cloud service is gaining popularity in the Bangladeshi market. The company said the Bangladeshi government is using HUAWEI CLOUD in meeting myriads of digital needs, with many leading local and multinational companies also benefiting from the cloud service. In February, it provided cloud service for…
CommSec Morning Report
Latest news • In US economic data, durable goods orders rose by 0.4% in April (survey: +0.6%). Mortgage applications fell 1.2% in the past week after falling 11% in the prior week. • Minutes of the US Federal Open Market Committee meeting on May 3&4 show that all participants agreed that a half-percentage point rate…
From tourist island to free trade port
HAIKOU – Over the past ten years, great changes have taken place in China’s tropical island province of Hainan, which is now being developed into the country’s largest free trade port. The transformation has left a strong impression on the people living in Hainan, including the Italians who have settled down on the island. Stefano…
Wednesday evening report
Despite a mixed lead from Wall Street overnight, the Australian sharemarket finished 0.4 per cent or 26 pts higher, to 7155.2. Banks were noteworthy winners and were supported by a lift in US treasury yields and a hike in the New Zealand interest rate. The big four banks all climbed by at least 1 per…
Economic Watch: Policy to steer China’s economy
BEIJING – China’s cabinet has urged the implementation of a large-scale policy package, which is expected to bring the country’s economy back on track amid downward pressure and tackle difficulties encountered by market entities, according to experts. China will implement 33 measures in six fields, mainly fiscal and related measures, to stabilize economic performance, according…
Car companies remain confident in China’s NEV market
HEFEI, May 24 (Xinhua) – German automaker Volkswagen’s Chinese joint venture Volkswagen Anhui recently began working on a new project for making new energy vehicle (NEV) parts, with an investment of 130 million yuan (about 19.5 million U.S. dollars). Located in Hefei, capital of east China’s Anhui Province, the project has a planned construction area…
Stocks recover amid a fragile tape on moderated Fed language
Despite a severe drop in US April’s new home sales data, US stocks rebounded to the close. Consumer stocks are still in focus as recession fears remain at the forefront. And with the negative feedback loop magnifying recession and growth fears, investors run for cover on the first signs of danger. It is hard to…
CommSec morning report Wednesday
In US economic data, new home sales fell from a 0.709 million annual rate to 0.591m in April (survey: 0.75m). The Richmond Federal Reserve manufacturing index fell from +14 to -9 in May (survey: +12). The S&P Global manufacturing index fell from 59.2 to 57.5 in May (survey: 57.5) and services fell from 55.6 to…
Tuesday evening report
Despite reaching a high of 7165 (0.2 per cent), the market succumbed to selling pressures and finished 0.3 per cent or 20 points lower, to 7129. The local Info Tech sector weighed on the index after it posted its first loss in three days. But the Financials sector managed to cap losses after it was…
central bank conducts reverse repos to boost liquidity
BEIJING, – China’s central bank Tuesday conducted 10 billion yuan (1.5 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.1 percent, according to the People’s Bank of China. The move aims to keep liquidity in the banking system reasonably…
