Monday, April 29, 2013

Asia This Day:Dreamliner Cleared;Bangladesh's Rising Star

Boeing sighed with relief as All Nippon Airways announced it will return the iconic 787 Dreamliner to service on June 1,following a successful test flight of the revamped aircraft.Ethiopian Airlines has already done so.
Australia's revenue shortfall has widened,Prime Minister Julia Gillard said.This is in spite of the unpopular Minerals Resource Rent Tax which her government imposed,which brought in much less than projected because of falling commodities prices and miners taking deductions.
India's Nifty Fifty futures index rose Monday morning on an upbeat meteorological forecast.A normal monsoon season is expected this year,which is good news for the agricultural sector.
The MSCI Asia Pacific index was up 0.25% in early Monday trading.
Bangladesh is considered the new manufacturing hotspot in Asia as Chinese costs rise,causing companies to shift operations to the poorer nation.Bangladesh manufacturing is worth 18 billion dollars now,with textiles alone accounting for 10% of GDP.Eighty percent of exports are going to the US and the EU.
Asian officials must act early to cool down overheating economies,the IMF said.
Chinese banks are reporting record profits,but manufacturing growth has slowed to 5.3%,below expectations.The current way of growing the Chinese economy by fixed asset growth is unsustainable,said Victor Wang,Deputy Head of Hong Kong/China Research at Macquarie Group.
Macquarie Group Ltd(MQG:ASX),Boeing(BA)

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