Your Daily Scan of the New Global Economy

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China
Leica Camera backs away from promotional video depicting ‘Tank Man’ in Tiananmen Square Leica Camera AG has sought to distance itself from a promotional video – depicting photographers covering the deadly Tiananmen Square crackdown three decades ago – that has landed the German company in hot water in China.The five-minute promotional video, “The Hunt”, depicts...
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Taiwan presidential run by Terry Gou creates ‘uncertain’ future for Foxconn, analysts say Foxconn chairman Terry Gou’s decision to make a run for Taiwan’s presidency creates “uncertainty” for the world’s largest iPhone assembler, and could threaten Apple’s long term relationship with the company, analysts said.The 68-year-old Gou, Taiwan’s richest man with a net worth of...
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Tencent wins approval to distribute Nintendo Switch video game in China China’s biggest game publisher Tencent Holdings has received approval to distribute a Nintendo Switch game on the mainland, paving the way for the Japanese video game maker to bring its latest console to the world’s biggest gaming market.Tencent has been given permission to distribute...
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China’s stock benchmark drops from one-year high as carmakers weigh on sentiment China’s stocks fell from a one-year high, as carmakers ran out of gas following a rally spurred by speculation about government stimulus to bolster car salses.The Shanghai Composite Index dropped 0.4 per cent, or 12.92 points, to 3,250.20 at the close on Thursday...
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China sees brighter outlook for yuan and foreign investment as US-China trade war deal nears The odds of capital exodus from China and of a slide in the value of the yuan exchange rate have diminished thanks to China’s steady domestic growth, progress in trade talks with the United States and the decision by the...
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Auto parts makers optimistic on China Auto parts suppliers are optimistic about the Chinese car market, as well as new opportunities created by advances in e-mobility and autonomous driving, industry representatives said at the ongoing Shanghai International Automobile Industry Exhibition.German automotive and industrial supplier Schaeffler expects its China business to double in the next five...
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Measures to reduce MSEs’ financing costs CHINA will work to further reduce financing cost of micro and small enterprises, with an aim to increase outstanding loans offered by five large state-owned commercial banks to MSEs by more than 30 percent this year comparing with 2018, the State Council executive meeting chaired by Premier Li Keqiang...
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Intel drops 5G smartphone modems US electronics giant Intel has said it was withdrawing from the 5G smartphone modem business, hours after Apple and American microchip manufacturer Qualcomm announced they had clinched an agreement to end a battle over royalty payments.Smartphone modems were at the center of the battle between Apple and Qualcomm.Intel said on...
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China’s first-quarter GDP up 6.4% on industrial growth, consumer demand CHINA’S economy remained stable in the first quarter, with the gross domestic production posting a faster-than-expected growth year on year, as industrial production jumped sharply and consumer demand showed signs of improvement. The GDP rose from a year earlier to 21.34 trillion yuan (US$3.19 trillion)...
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Shanghai’s housing index rises on sales SHANGHAI’S existing housing index rose last month for the first time in over a year as sales rebounded. The index, which tracks month-over-month price changes in 130 areas across the city, gained 0.52 percent, or 22 points, to 3,905 in March, the Shanghai Existing Housing Index Office said in...
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