Kuala Lumpur, Malaysia, 25 July 2020 Issued by the APEC Business Advisory Council Asia-Pacific business leaders from the APEC Business Advisory Council (ABAC), meeting virtually this week, called on the region’s Trade Ministers to take the lead in a credible, relevant and strengthened World Trade Organisation (WTO) in the face of the COVID-19 pandemic. “Globally, we face significant health and economic challenges. Fundamentally trade can and must be at the centre of tackling both the immediate crisis and of laying…
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PBEC has been accepted to participate in the APEC Transportation Working Groups which is made up of several different tracks including aviation. PBEC is actively moving beyond its current observer status at APEC and be recognised as an independent organisation on behalf of business to assist and contribute fully in future discussions and regulatory reforms with APEC Member States at Senior Official Meetings. Our Members will be called upon depending on their area of expertise to join as a guest…
The appetite for sustainable investments among financial institutions, funds and corporates in Asia continues to rise, and further public and private sector cooperation is needed, according to latest analysis by the Pacific Basin Economic Council (PBEC), ESCAP Sustainable Business Network (ESBN) and KPMG. Michael Walsh, Chief Executive, Pacific Basin Economic Council, said: “Public attitudes are changing fast and the sustainability debate has become an inclusive policy in boardrooms globally. There are significant opportunities in this region by adopting ESG standards….
Respondents to a PECC survey do not anticipate a swift rebound from the crisis in 2021 with growth levels for the Asia-Pacific remaining below 2019 levels for the next 3-5 years. The survey of 710 policy experts from business, academia, government and civil society was conducted from 19 May to 12 June, 2020. An analysis of the responses also provides insights for further commentary on the regional outlook and the strategies available for transitioning out of the current situation. One…
Hong Kong will attract listings by international companies, not just Chinese firms, as Greater Bay Area opens up, outgoing IPO panel chief says Hong Kong will continue to attract listings by international and Asian companies in the coming years, as the 2018 reforms and a soon to be launched wealth management connect scheme increase access to and capital flows from the Greater Bay Area, said Andrew Weir, who steps down as chairman of the Listing Committee this week. The 28-member committee…
The unravelling spread of the COVID-19 pandemic, and its socio-economic impacts, continues to make the operating environment highly uncertain. The IMF World Economic Outlook 2020 succinctly summarises the uncertainty for global growth. The economic fallout depends on factors that interact in ways that are hard to predict, including the pathway of the pandemic, the intensity and efficacy of containment efforts, the extent of supply disruptions, the repercussions of the dramatic tightening in global financial market conditions, shifts in spending patterns,…
Back in March after the 1st Senior Official Meetings of 2020 had taken place in KL, Malaysia, we observed that APEC’s response to the COVID-19 challenge would be a profound test of our collective commitment to our core values of cooperation, collaboration and partnership to secure the growth of our economies and the well-being of our people. That still holds true today. As the regional Governments and business leaders look to deal with the ongoing impacts of the pandemic, and…
When impact investing forms part of the strategic focus rather than affecting financial returns negatively, it adds value to a portfolio and enhances investment performance. This concept is referred to as “impact alpha”. Join PBEC as it hosts an all women panel of investor experts from across Asia on the rising significance of Impact Investing. Sign up here: https://us02web.zoom.us/webinar/register/2315934200273/WN_IGc4x_J1TP2bITCPP5BI2w
PBEC Insights UK & EU Markets – July 2020 An opinion piece by Renee Pan Brexit and the 2019 general election has caused significant financial uncertainty within the UK. Brexit even though widely forgotten during the coronavirus pandemic is still very much alive. The UK are entering critical stage of negotiations with European Union. This along with the coronavirus (COVID-19) situation has increased the level of financial uncertainty within the region. Given the unprecedented scale of disruption caused by the…
PBEC announces the appointment of a UK/EU representative in Renee Pan to assist in growing its brand presence and overseas membership base for those corporations, founders and entrepreneurs who seek new opportunities, investment opportunities and meaningful business to business connections within the Asia Pacific Marketplace. Renee has been in the Luxury Hospitality Industry for over the past 12 years and has built up expertise in the areas of M.I.C.E (Meeting, Incentive, Conventions and Exhibition) as well as overseeing sales and…