Manta considering growth options
News from Emerging Markets
Investment bank Morgan Stanley has significantly lowered its GDP growth outlook for Hungary from its previous forecasts of 3.5% in 2015 and 2.5% in 2016 to 2.9% and 2.4%, respectively.
Challenged by the expanding cashless society, South Korea's state-run minting agency is diversifying its business domain and actively tapping more export destinations to offset a sharp drop in demand for coins and banknotes. Rapidly increasing credit card usage and the digital payment revolution are making Koreans' wallets slim.
Brazil's oil production was up 2.9% to 2.46mn oil barrels per day in July 2015 on the previous month, revealed national oil and gas agency ANP, adding that production in that period rose by 8.8% year-on-year.
Kazakhstan and China signed agreements worth USD 23bn, President Nazarbayev said on Tuesday after a meeting with the Chinese leader Xi Jinping in Beijing during the weekend. He gave no details on the agreements reached.
Myanmar's Government has approved the country's first-ever national minimum wage, state media reported on August 29. According to the state-run Global New Light newspaper, the wage has been set at 3,600 kyat (2.8 USD) for a standard eight-hour work day and will take effect from September 1.
Taiwan's Foxconn Technology Group, the world's biggest electronic components maker, has canceled plans to invest in a factory in Indonesia, Kontan daily reported on Tuesday, citing the head of an Indonesian business chamber.