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Indonesian FM: China’s growth benefits Asia

Indonesian FM: China's growth benefits Asia China's rapid economic development has stimulated countries in Southeast and East Asia to improve their economy, Indonesian foreign Minister Hassan Wirajuda said here Friday. Speaking at an annual press statement event here, the minister said, "The awakening of China's economy, ranking the fifth biggest in the world, has helped provide an opportunity for East and Southeast Asian countries to take benefits to make economic progress." Wirajuda said that the cooperation between the region and China helps facilitate the economic progress and diplomatic ties.

Asia seen driving next wave of chip growth

Asia seen driving next wave of chip growth The global semiconductor industry can look forward to a period of steady growth, much of it driven by Asias emerging economies, analysts and industry representatives told a conference here Tuesday (May 9). Stanley Myers, president and CEO of the Semiconductor Equipment and Materials International (SEMI), told the Semicon Singapore 2006 conference that SEMI expects the market as a whole to expand by up to 10 percent this year, driven mainly by growing demand for consumer gadgets such as mobile phones and digital audio players. SEMI is predicting that the global IC equipment market

If Asia stays right in 2006, so will the world economy

If Asia stays right in 2006, so will the world economy With a couple of notable exceptions 2005 was a good year for the world economy. Despite rising US interest rates and soaring oil prices there was rapid growth in the US and even more rapid growth in China and India. Emerging Asia did well too and Japan managed faster growth than either the UK or the eurozone. The exceptions were the European big three and the UK. In Europe Germany barely reached 1 per cent growth, Italy barely grew at all and France seems to have grown by little more

Buying into metals to tap growth in Asia

Buying into metals to tap growth in Asia Joe Joseph, manager of the $1.5 billion Putnam International Capital Opportunities Fund, used the global drop in the equity markets since April to buy shares of metals companies that will benefit from Asias growth. Joseph bought more shares of Pacific Metals Co. and started buying a stake in Kagara Zinc Ltd. as investors fled commodities stocks on concern that central banks would slow economic growth by raising interest rates. The Morgan Stanley Capital International World Index has fallen 6.3 percent since April. The Putnam funds biggest positions include Tokyo Steel Manufacturing Co. and Hyundai

Consumers in India, China top spending league in Asia

Consumers in India, China top spending league in Asia A snapshot of consumer spending and sentiment shows that Asians fall into two camps - one suffering the impact of high interest rates and oil prices, and another bolstered by rising incomes and robust job markets. South Korea, Thailand and Malaysia are in the first category, with signs consumption growth is slowing reinforcing a view that interest rates have peaked or are close to doing so. In contrast, consumers in China, India, Singapore and Hong Kong are expected to remain confident for the rest of 2006. It is a pretty mixed picture and the