KONG (MarketWatch) -- China's investment in factories, land and
other assets in urban areas surged 27% in the first 10 months of
the year, adding to concerns of a looming bubble in industrial spending
and raising pressure on the government to rein in investment.
Investment in fixed urban assets totaled 8.9 trillion yuan ($1.2
trillion) in the January to October period, the statistics bureau
reported on Friday.
The data cap a busy week of October statistics that showed surging
retail spending, robust industrial production and inflation nudging
Economists said Friday's scorching factory-investment figures raised
concerns the economy could be heading for a deflationary bust if
external demand fails to soak up the capacity due to come online
over the next few years.
The Reserve Bank of
India will issue commemorative coins on the 150 th anniversary of
the First War of Independence
The Reserve Bank of
India (RBI) has indicated that it will soon issue a new appeal for
memorable coin denomination 5 rupees on the 150 th anniversary of
the First War of Independence, which is marked this year.
The reverse side FMIN coins will be decorated with portraits of
historical figures who played a crucial role in this war, the report
said the bank.
first rule on pension insurance business, the Regulations on Pension
Insurance Business of Insurance Companies, will take effect as of
January 1, 2008, announced China Insurance Regulatory Commission
(CIRC) Monday. The new rule makes regulations on the operation activities
of pension insurance business in the aspects of operation entity,
management of pension insurance product and operation and enterprise
annuity management business.
wants all the players in the Association of Southeast Asian Nations
(Asean) insurance industry to increase their competitiveness as
a region in order to retain a greater share in the insurance business.
Negara Malaysia Deputy Governor, Datuk Mohd Razif Abdul Kadir said
there was a great potential for the Asean players to retain a greater
share of the insurance business particularly in reinsurance and
underwriting of large, specialised risk which traditionally flows
out of the region, he said.
Nams one-year membership of the World Trade Organisation (WTO)
was marked with the beyond-expectation growth by the fledgling insurance
industry, Viet Nam Insurance Association General Secretary Phung
Dac Loc said.
the sector registered a 31 percent increase, or five-year high,
in non-life premium revenue of almost 6 trillion VND in the first
nine months of 2007. Life premium revenues also recorded a three-year
high with a growth rate of over 10 percent.
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