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East Asia
Seven countries to deepen cooperation on China-Europe freight rail services
Railway authorities of China, Belarus, Germany, Kazakhstan, Mongolia, Poland and Russia, have signed an agreement to deepen cooperation on China-Europe freight rail services, according to China Railway Corporation. The agreement serves the Belt and Road Initiative, expands the market share of rail freight between Asia and Europe and drives economic…
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Central Asia
Kazakhstan’s KazMunaiGas places $2.75B Eurobonds
The Kazakh National Oil and Gas Company KazMunaiGas (KMG) successfully placed 5, 10 and 30-year Eurobond issuances with a total volume of $2.75 billion, the company said in a message April 20. The placement was completed under the $10.5 billion Global Medium Term Notes Program, established by KMG and its…
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East Asia
China-made C919 passenger jet to take off soon
The C919, the first large passenger aircraft designed and built by China passed the last expert assessment on April 18, its manufacturer announced. The aircraft was given the go-ahead to begin a series of high-speed taxiing tests, the last step before its maiden flight. The process usually takes one to…
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Central Asia
Iran-Russia trade volume to grow further in 2017
Iran-Russia trade volume has surged by 70% after the removal of sanctions against the country early last year, Alexander Maksimov, honorary representative of the Russian Chamber of Commerce and Industry in Iran, told Sputnik. He added that Iranian-Russian trade relations are set to rise further this year after increasing almost…
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Business
Oil prices decline on growing US drilling activity
Oil prices dropped this Monday morning in Asia following a three-day Easter break as investors digest North Korea’s failed missile launch. As of 14:28 (MSK), WTI Oil was down 46 cents or 0.86% at $52.72 per barrel. Brent Oil was down 48 cents or 0.86% at $55.41 per barrel. Investors…
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East Asia
What’s at stake for Saudi-East Asian relations?
Saudi Arabia’s King, Salman bin Abdulaziz Al Saud, accompanied by a large delegation including royal family members and ministers, paid a month-long visit (that started from the end of February) to East Asian-Pacific countries, including Malaysia, Brunei, Indonesia, Japan, and China. It is rare in Saudi diplomacy to have such…
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East Asia
Korean automobile industry set to re-enter Pakistan market
A number of foreign automobile companies, including some from the Republic of Korea – Hyundai Motor Corporation, and KIA Motor Company among others, are keen on investing in setting up car assembling plants in Pakistan, a potential market with a member population of around 200 million. Both leading Korean automobile…
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West Asia
Economic relations with Russia overshadowed by renegotiation of gas transit
The dominant topic in Georgia’s foreign economic relations in recent months was the renegotiation of terms for Russia’s gas transit to Armenia. Moscow is using a pipeline running through Georgia north-south to supply Armenia with natural gas, with Tbilisi receiving ten percent of the gas transported through the pipeline as…
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South Asia
Pakistan and Korean Exim Bank sign loan agreement for IT park
The government of Pakistan and Korean Exim Bank signed loan agreement on Tuesday for a new information technology park in Islamabad. Total project cost is US $ 88.383 million including a loan of US $ 76.3 million from Korean Exim Bank under the Economic Development Cooperation Framework (EDCF) arrangement. Secretary…
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East Asia
Xi Jinping pledges continued efforts to promote trade and investment liberalization and facilitation
By Zhao Cheng from People’s Daily Chinese President Xi Jinping pledged on March 5 that China will persist in the all-round opening-up policy, and continue to liberalize and facilitate trade and investment, while urging Shanghai, a pioneer in China’s reform and opening-up, to act as a bridgehead. Xi made the…
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