Business » Asia

Tuesday, 26 August 2014

China sets up US$3.3 billion aviation investment fund

2014-08-26 CHINA has set up a 20 billion yuan (US$3.25 billion) investment fund to help bolster its fast-growing civil aviation industry, local media said on Monday.The Civil Aviation Investment Fund, which is led by the parent of Beijing International...

China’s BOC orders 82 Boeing planes worth US$8.8b

2014-08-26 AIRCRAFT leasing firm BOC Aviation said on Monday that it has ordered 80 Boeing 737 planes and two B777-300ERs which are worth a total US$8.8 billion at list prices.The orders were made to meet expanding client needs as travel booms in Asia.The...

Vietnam, EU hail progress on FTA

2014-08-26 VIETNAM’S prime minister on Monday hailed progress in free trade talks with the European Union, saying a deal could be concluded as early as October. Prime Minister Nguyen Tan Dung was speaking after meeting European Commission head Jose Manuel...

Indonesia to resume poultry exports to Japan

2014-08-26 INDONESIAN trade officials are currently in talks with their Japanese counterparts over the possibility of resuming poultry exports to the East Asian country, which were halted in early 2004 following the avian flu outbreak that affected many local...

MAS to cut a quarter of jobs in restructuring

2014-08-26 ABOUT a quarter of Malaysia Airlines’ 20,000 staff are likely to lose their jobs under a restructuring plan for the loss-making airline hit by two separate jet disasters this year, a source with direct knowledge of the matter said.The restructuring...

Monday, 25 August 2014

Modi effect gets Delhi working, but reforms prove elusive

2014-08-25 PRIME Minister Narendra Modi has shaken up India’s ruling elite in his first 100 days since taking power, but has so far struggled to deliver the bold reforms needed to kick-start the economy.Modi swept to power in May on a tide of hope after years...

China targets own operating system

2014-08-25 CHINA could have a new homegrown operating system by October to take on imported rivals such as Microsoft Corp, Google Inc and Apple Inc, Xinhua news agency said yesterday.Computer technology became an area of tension between China and the US after...

Regulators’ sweep threatens Japan auto parts business model

2014-08-25 WHEN a Japanese carmaker issued a tender for shock absorbers a few years ago for a model it planned to sell in Indonesia, two suppliers came back with bids that were “so obviously coordinated,” said an executive at the automaker.One supplier put in...

Indonesia-US mining row resolved

2014-08-25 AS negotiations to resolve an increasingly bitter dispute over Indonesian mining rules teetered on the brink of collapse, the chairman of Freeport-McMoRan Inc James “Jim Bob” Moffett flew to Jakarta for last-ditch talks. Indonesia’s chief...

Saturday, 23 August 2014

UK oil output threatened by platforms running dry

2014-08-23 BRITAIN’S oil industry is facing the threat of a cascade of North Sea rig closures, unless ageing platforms can urgently source more gas to help squeeze out the remaining barrels.The potential threat to oil revenues looms as Scotland prepares to...

Sinopec planning US$1.5 billion Hong Kong IPO

2014-08-23 CHINA Petroleum & Chemical Corp, better known as Sinopec, is planning a US$1.5 billion Hong Kong initial public offering (IPO).   The IPO will be for its oilfield services unit in the first half of 2015, sources familiar with the matter said...

China says factory arrears rising as the economy takes a tumble

2014-08-23 MORE Chinese manufacturers are falling behind on their payments as economic growth falters, causing accounts receivable to spike 1.1 trillion yuan (US$179 billion) in the first six months from the year-ago period, the government said on Friday....

Jetstar Hong Kong sells 3 aircraft

2014-08-23 NEW budget airline Jetstar Hong Kong said Friday it has sold a total of six of its aircraft because it is taking longer than expected to get a licence to operate.The airline, which is a joint venture between Australia’s Qantas, China Eastern...

Friday, 22 August 2014

AirAsia expected to gain from MAS restructuring

2014-08-22 AIRASIA Bhd’s second-quarter results point to early signs of a recovery in the Malaysian market with a planned restructuring by Malaysian Airline System Bhd (MAS) expected to lead to lower capacity in the sector.Malaysian carriers have been caught...

Beijing’s land prices hit record despite housing downturn

2014-08-22 AUTHORITIES in China’s capital sold a plot of land at a record 7.46 billion yuan (US$1.2 billion) on Wednesday, despite analysts belief that a general downtrend in the property market is worsening. Located in the west of central Beijing, the plot...

China taps Korea for ideas in Qualcomm case

2014-08-22 CHINESE antitrust officials have met with their South Korean counterparts to discuss violations by US chipmaker Qualcomm Inc, sources said, as Beijing reaches out to regulators overseas to complete a case that could result in record fines at home....

Thailand to delay US$1.94b Bangkok airport expansion

2014-08-22 AIRPORTS of Thailand Pcl , the country’s largest airport operator, said on Thursday it has delayed a US$1.94 billion expansion plan at Bangkok’s Suvarnabhumi airport pending a review by the military government.After seizing power in May, the...

Thursday, 21 August 2014

China investments in M’sia to top US$1b

2014-08-21 APPROVED investments from China into Malaysia are expected to exceed US$1 billion this year from more than US$900 million last year, said Embassy of the People’s Republic of China to Malaysia economic counsellor Wu Zhengping.“Establishments such as...

AirAsia profits up despite difficult times

2014-08-21 MALAYSIA-BASED AirAsia on Wednesday announced a sixfold increase in second-quarter net profit as Asia’s budget travel leader increased revenue despite what it called a “challenging” aviation environment. Net profit was 367.2 million ringgit (US$...

Japan looks to Indonesia for poultry supplies after China food scandal

2014-08-21 INDONESIA and Japan are in talks to resume poultry shipments from the Southeast Asian nation after a 10-year stoppage, an Indonesian government minister said on Wednesday, with any agreement likely to be worth an initial IUS$200 million per year....

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