The Asia Eight

Daily must-reads from the world’s most dynamic region

April 6, 2021

1 TOP STORY: Yellen says US pushing for global corporate tax

2 ATF TV: Thailand prepares to reopen for vaccinated tourists

3 ASIA MARKETS: Wall Street's record rally lifts global stocks

4 NEWS: China signs gas deal with Italian energy company Eni

5 NEWS: SPAC shift to focus on value lets Bill Foley shine

6 NEWS: RIL teams up with Facebook, Google on NUE payments

7 COMMENT: Bondholders wield power over climate policy

8 THE BIG PICTURE: Under-pressure China firms in Singapore

01 Top Story

US pushes G20 for global minimum corporate tax

President Biden has voiced anger that multinationals have moved to tax havens or use loopholes to pay little tax; he wants US corporates to pay 28% tax, or multinationals 21%; Treasury Secretary Yellen says a collective international effort would end the "race to the bottom" on taxation

02 ATF TV Thailand readies for vaccinated tourists

Hotel workers in Phuket and local people in a handful of 'tourist provinces' will also be given the vaccine to boost faith that foreign visitors will be safe in those areas; Visitors who can show they had the 'jab' may be able to avoid undergoing quarantine if they arrive in the fourth quarter

03 Asia Markets Wall Street rally buoys bourses

US economic data, Biden infrastructure optimism boosts gains in the US for second day, helping to lift global sentiment; Nikkei falls and Shanghai is flat; Treasury yields decline

04 China signs Eni gas deal

Italian company signs MoU with Hangzhou-based power utility Zhejiang Energy on energy cooperation, such as developing LNG supply to joint participation in gas projects in China and internationally

05 Foley SPAC shift boost

The SPAC boom continues with $100 billion of volume in the first quarter, but more vehicles trade at a discount; SPAC veterans like Bill Foley with a strong track record are getting more credit

06 RIL moves into payments

A new rival for India's home-made digital payment ecosystem is in the making as Mukesh Ambani joins hands with Google and Facebook to create a national payments network

07 Comment Bondholders can shape climate policy

With deficits skyrocketing, bond investors have the opportunity to engage with governments on climate change, Thomas Dillon, Senior Macro ESG Analyst at Aviva Investors, argues

08 The Big Picture

"Chinese tech companies are facing regulatory pressures and sanctions from governments in other countries, notably the US but also other nations such as India"