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Bubble concerns grow; pressure increases for more economic cooling

China's scorching factory investment a 'worry'
Bubble concerns grow; pressure increases for more economic cooling

HONG 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 11-year highs.

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.

Chinese Investments Are Taking the Lead in Africa

New India coins

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.

China issues new rule on pension insurance business

China's 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.

Malaysia Wants A More Competitive Asean Insurance Industry

Malaysia 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.

Bank 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.

Vietnam insurance market grows drastically

Viet Nam’s 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.

He 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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