Central Pattana announced a THB20bn investment in a new development in downtown Bangkok, including an office building and shopping center set to open in Q225 and Q325. It is part of the larger Dusit Central Park mixed-use development. The Latest: In October 2023, Central Pattana, Thailand’s largest retail property development company, announced a THB20bn (USD541mn) investment […]
Chinese eVTOL manufacturer EHang has received authorization to commercially fly passengers in its unmanned aerial vehicle (UAV), making it the world’s first unmanned two-passenger eVTOL cleared for commercial use. The company has received 1,200 order requests for its EH216 electric aircraft and is estimated to generate $432 million in revenue from these orders. The success […]
In October 2023, ADIA invested $600mn in Reliance Retail, following investments of $250mn by KKR & Co and $1.0bn by Qatar Investment Authority. Reliance Retail has over 18,000 stores and digital platforms in multiple retail categories. The Latest: In October 2023, the Abu Dhabi Investment Authority (ADIA) announced an investment of USD600mn into India’s largest retail […]
Vietnam’s current account surplus is expected to increase to 1.5% of GDP in 2023 and further to 2.0% in 2024, driven by a rebound in global demand and weakened domestic economy keeping import demand low. The surplus widened significantly in Q2 2023 to 7.6% of GDP. Key View We have revised upwards our 2023 current […]
Fitch Solutions predicts 1.0% growth for North Korea in 2022 and 2023, relying on increased trade with China. The country’s economy has suffered from the lack of a vaccination program, making it vulnerable to isolation. Key View We at Fitch Solutions expect North Korea to grow by 1.0% in 2022 and 1.0% in 2023 following […]
Indonesia’s fuel demand growth is expected to slow as the government aims to reduce reliance on fossil fuels, resulting in slower growth rates for transport fuels. Key View Indonesia’s long-term fuel demand growth is expected to slow as the government seeks to diversify away from fossil fuels. Demand for transport fuels showed slower growth rates […]
Household spending growth will slow as macroeconomic headwinds weigh on households. High frequency data shows a recovery in retail sales and consumer confidence, but inflation is high, forcing consumers to tighten their wallets. If inflation remains elevated, it will affect consumer spending in 2024. Key View: Household spending growth will slow over 2023, as macroeconomic headwinds […]
Cambodia’s real GDP growth is predicted to be 5.8% in 2023 due to a recovery in tourism. Inflation should ease and fiscal policy will support consumption and investment, although export growth may slow. Potential risks include slower growth in Mainland China affecting tourism and investment. Key View We forecast real GDP growth of 5.8% in […]