Rising expectations that China and the United States will soon reach an interim trade deal provided fresh impetus to Asian markets on Wednesday, with Donald Trump saying the talks were "in the final throes". However, observers said that while the broad consensus is that the two will tie up something soon, there is an underlying unease at the lack of detail that is causing uncertainty. "We're getting to the point where they need to show us the money," said Michael Reynolds, investment strategy officer at Glenmede Trust Co. "Talk is one thing but an actual deal on paper, pen to paper, is what is going to dramatically change the market narrative." Regional investors were given another record-breaking lead from Wall Street, with comments from Beijing and Washington adding to the confident mood on trading floors. Trump said on Tuesday: "We're in the final throes of a very important deal, I guess you could say one of the most important deals in trade ever." He also raised the issue of … [Read more...] about Asian markets lifted by growing trade optimism
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Climate fight takes a blow with no deal on carbon markets
The international effort to rein in fossil fuel pollution took a step backward this weekend after envoys at a marathon round of United Nations talks watered down language on issues they had agreed on in previous years.The delegates from almost 200 nations left Madrid after more than two weeks of discussion, agreeing only on the “urgent need” for countries to make deeper cuts to greenhouse gases. They shelved work on adding market mechanisms as a tool for countries to meet their goals and couldn’t agree about finance needed to fix the problem.The result undercut principles of the 2015 Paris Agreement on climate change, under which all countries agreed to deliver increasingly ambitious policies to cut pollution. It also walked back on a three-decade-old commitment from the richest industrial nations to help developing countries shoulder the costs of global warming.“There is a lot of disappointment with the outcome on this … [Read more...] about Climate fight takes a blow with no deal on carbon markets
Regulation for Vintage Vehicles Soon; Number Plates to Display ‘VA’
In a respite for enthusiasts and collectors of vintage cars, classic vehicles of more than 50 years of age may flash special number plates and enjoy exemption from scrappage once the regulation for these vehicles are formalised. For facilitating regulation and registration of old vintage vehicles, the Ministry of Road Transport and Highways has come out with a draft notification that provides for a special number plate with "VA" letters signifying vintage in the registration number. "...it is expedient to provide for the preservation of vintage vehicles owing to their historic, cultural, technical and aesthetic significance. In exercise with the powers conferred by...the Motor Vehicles Act...the central government on being satisfied that steps are required to encourage and regulate vintage motor vehicles being a part of technical, motoring and cultural heritage is pleased to make order of regulation for their registration or re-registration," the draft notification said. The … [Read more...] about Regulation for Vintage Vehicles Soon; Number Plates to Display ‘VA’
How to Brinvest after Brexit or Bremain
In a note to investors on Friday, Credit Suisse equity strategist Hasan Tevfik has broken down which stocks to buy and sell depending on which way the vote goes. In short: “Buy banks on Remain, buy gold and [real estate] on Leave.” The analysis highlights previous correlations between ASX 100 stock prices and the probability of a remain vote succeeding, based on data from May 2 to June 22. “Recent relationships suggest that the stocks with large positive correlations should rally if the Remain vote succeeds. It is no surprise that financials feature highly here,” Mr Tevfik writes. “A general fear is that funding markets will seize up if we enter the ‘unknown’ of Europe breaking up. Previous correlations suggest the Aussie banks are a buy on Remain. “Meanwhile, those stocks with a large negative correlation should perform well if the Brexit vote is to Leave. Our screen highlights Newcrest on this side of the table. It also includes … [Read more...] about How to Brinvest after Brexit or Bremain
Yearender: Cambodia’s economy remains robust amidst concerns over EBA deal loss
Video PlayerClose by Nguon Sovan, Mao Pengfei PHNOM PENH, Dec. 16 (Xinhua) -- Cambodia's economy remains robust this year despite concerns over the possible loss of Everything but Arms (EBA) trade scheme with the European Union, officials and analysts said. The EU started in February the 18-month process that could lead to the temporary suspension of Cambodia's duty-free trading access to the EU market under the EBA scheme due to concerns over human rights and labor rights. If suspended, it is predicted the kingdom's growth could slow down in a short term. The Southeast Asian country's economy is traditionally driven by garment and footwear exports mainly to the EU market, tourism, construction, and agriculture. ROBUST GROWTH EXPECTED THIS YEAR Economy and Finance Minister Aun Pornmoniroth said Cambodia would be able to achieve the growth of 7.1 percent in 2019, making the GDP (Gross Domestic Product) value increase to 26.8 billion U.S. dollars. "Industrial sector (mainly garment and … [Read more...] about Yearender: Cambodia’s economy remains robust amidst concerns over EBA deal loss