Philippines' FDI marks 43.5pc rise in Q1
MANILA, July 01 (Xinhua): Foreign direct investment (FDI) into the Philippines in the first quarter of this year rose to 2.2 billion US dollars. It was an increase of 43.5 per cent compared to the same period last year, the government said on Sunday. Citing data from the central bank Bangko Sentral ng Pilipinas (BSP), Finance Assistant Secretary Paola Alvarez said that in March 2018 alone, FDI net inflows reached 682 million US dollars. It marked an increase of 27 per cent from 537 million US dollars recorded in the same period in 2017.
— Xinhua
Egypt to build ME's largest petrochemical complex
CAIRO, July 01: The Egyptian government signed on Saturday a contract with a petrochemical corporation to establish the largest petrochemical complex in the Middle East at the Suez Canal Economic Zone (SCZone). The complex will be located in Ain Sokhna district of Suez province, with an estimated investment of 10.9 billion US dollars, official MENA news agency reported. The contract was signed by Mohab Mamish, head of the Suez Canal Authority and the SCZone, and Basil al-Baz, CEO of Carbon Holdings. Established in 2008, Carbon Holdings introduces itself as a Cairo-based privately owned company that operates midstream and downstream petrochemical projects running in the SCZone.
— Xinhua
S Korea's exports
decline in June
SEOUL, July 01: South Korea's exports, which account for about half of the export-driven economy, inched down 0.09 per cent in June year-on-year at 51.23 billion US dollars, a government report showed Sunday. Despite the slight fall, the country's exports topped 50 billion dollars for the fourth consecutive month for the first time, according to the Ministry of Trade, Industry and Energy. The exports, which fell 1.5 per cent in April, rebounded 13.5 per cent in May. In June, the figure was almost unchanged. The slight fall in June came as the number of business days reduced by 1.5 days compared with last year.
— Xinhua
CDB to issue 35b
yuan bonds to
global investors
BEIJING, July 01: China Development Bank (CDB) is expected to issue 35 billion yuan ($5.29 billion) financial bonds to global investors on July 03 under "bond connect" scheme, China Securities Journal reported on Sunday. The date of issue marks the one-year anniversary of the "bond connect" scheme launched to link China's market with overseas investors. This latest issue will include five products with maturity dates between one to ten years, the report said. CDB has hired Bank Of China (Hong Kong), Credit Agricole and Ping An Securities (Hong Kong) as global coordinators for the issue. — Reuters
Gold price falls
in India market
NEW DELHI, July 01: Gold fell by Rs 60 to Rs 31,420 per 10 gram at the bullion market Saturday on sluggish demand from local jewellers despite a firm trend overseas. However, silver held steady at Rs 40,600 per kg on scattered enquiries from industrial units and coin makers. Marketmen attributed the fall in gold prices to muted demand from jewelers and retailers at domestic spot market, but a positive global trend capped the fall.
— PTI
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