介绍:
Chinese banks see forex surplus in February
Data shows that Chinese banks bought more foreign currency than they sold last month.
This is the seventh month for the banks to report such a surplus. However, the surplus in February was 37.5 percent lower than that in January, according to the nation's top foreign exchange regulator.
Surpluses may suggest pressure from trans-border capital inflow.
China's central bank widened the yuan's daily trading band from 1 percent to 2 percent earlier this week.
Number of enterprises surge 36.1 pct since registration reform
More than 120-thousand new enterprises registered in China in the two weeks following the launch of reforms of the corporate registered capital system. Changes were made at the beginning of this month.
The number of new enterprises surged 36 percent from a year ago.
The data also shows diversified growth rates in new commercial registrations in different regions and industries, while the sectors of energy, machinery and construction saw faster expansion.
China has amended and abolished a number of business regulations so as to make the market more accessible and invigorate social investment.
That includes lifting restrictions on minimum registered capital, payment deadlines, down payment ratios and cash ratios of registered capital.
Geely borrows 20 bln for overseas expansion
Anchor:
Shares in Chinese carmaker Geely surged 13 percent on Wednesday, one day after the company got 20 billion yuan worth of loans from the Export-Import Bank of China.
Geely says the loan will be used mainly to construct plants overseas and ease cash flow issues.
The money will also go toward the export and import of key components and international logistics bases.
For more on the move, Paul James earlier talked with Benjamin Cavender, Associate Principal at China Market Research Group.
…
Back Anchor: That was Benjamin Cavender, Associate Principal at China Market Research Group.
Greece strikes deal with Troika on terms of further aid: Greek PM
After months of negotiations, Athens and its international lenders have come to an agreement on the latest terms of its bailout program, allowing more aid to be released to Greece.
Greek Prime Minister Antonis Samaras.
"The lengthy negotiations with the troika have been completed with success. When others doubted the achievements of the economy or even tried to dispel them, this government, united, achieved its mission: to get the country out of the crisis."
Athens and the troika -- the representatives of its international lenders, The EU and IMF --- have been wrangling over economic reforms and the progress of Greece's bailout program since September, making it the longest inspection since Greece was first rescued in 2010.
The talks stumbled over reforms to make the economy more competitive, mass layoffs demanded by lenders, and the capital shortfall faced by Greek banks.
Athens has been trying to avoid further pain to Greek citizens. Samaras says the government would redistribute 500 million euros towards helping the poor.
Greece's next pressing funding needs are in May, when 9.3 billion euros of bonds expire, the biggest refinancing hump the country will face in the next three decades.
Economic indicators have shown signs of progress for the Greek economy, and it is expecting to post a primary surplus.
Rising dairy prices drive down New Zealand current account deficit
New Zealand's current account deficit fell to 800 million NZ dollars, or about 680 million U.S. dollars, in the quarter ending December 2013.
That's the smallest quarterly deficit in almost four years.
It was down from 1.7 billion NZ dollars in the previous quarter, driven by rising values for dairy product exports, according to Statistics New Zealand.
The deficit was funded by a net inflow of foreign investment with overseas investors increasing their holdings of debt securities issued by New Zealand's banking sector.
The rise in dairy products exports also drove down the annual current account deficit to 7.5 billion NZ dollars, or 3.4 percent of GDP, last year, down from 8.9 billion NZ dollars, or 4.1 percent of GDP, for the year to the end of September 2013.
Fitch Ratings has confidence in Australian iron ore outlook
Global rating agency Fitch Ratings has few concerns on the Australian iron ore outlook, saying the recent fall in iron ore prices does not threaten the country's big three miners.
Fitch says Australia's BHP Billiton, Rio Tinto and Fortescue are all still very profitable at current iron ore prices.
Projecting up until 2010, Fitch believes that China's steel demand will continue to grow, despite iron ore inventory at China's major ports reaching a two-year high.
It says the seasonal slowdown over the Lunar New Year period has contributed to the inventory overhang, and fueled the negative sentiment, but Chinese demand for Australian commodities is not about to decline drastically.
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