Business » Asia

Monday, 20 April 2015

Foreign carmakers still bullish on Chinese market

2015-04-20 FOREIGN automakers continue to plough money into factories in China, the world’s largest car market, even as the biggest economic slowdown in a quarter of a century crimps sales growth. Market leaders Volkswagen AG and General Motors show no sign...

Saturday, 18 April 2015

Super-rich Asians attract multi-family financial firms

2015-04-18 A DISCREET breed of financial management firm has sprung up to cater to Asia's super-rich as their fortunes grow.   The firms, known as multi-family offices, provide an alternative to private banks in helping ultra-high-net-worth families manage...

Carmakers race to China auto show

2015-04-18 CHINA is crucial to foreign carmakers as the world’s biggest auto market, but slowing economic growth and a corruption crackdown are denting its appeal as they gather for the country’s premier industry show. The Shanghai auto show – the location...

Friday, 17 April 2015

FDI into China accelerates in March: Gov’t

2015-04-17 FOREIGN direct investment into China picked up in March, official figures showed on Thursday, though outbound investment from the world’s second-largest economy slowed sharply. FDI rose 2.2 per cent year-on-year last month to US$12.4 billion, the...

Malaysia banishes sukuk premium in US$1.5b issue

2015-04-17 THE Government of Malaysia sold the world’s first 30-year sovereign sukuk yesterday and, in the process, shrugged off domestic woes to establish a long-dated benchmark Islamic curve for other sovereigns to follow.The 30-year was part of a two-...

Thursday, 16 April 2015

Taiwan not among 57 members of Chinese-led AIIB

2015-04-16 CHINA on Wednesday announced the 57 intended charter members of the proposed Chinese-led Asian Infrastructure Investment Bank, with longtime rival Taiwan left off the list despite expressing a desire to join. Taiwan’s exclusion means it won’t...

China’s Q1 GDP growth slows to 7% on-year: Govt

2015-04-16 CHINA’S economy expanded 7.0 per cent year-on-year in the first quarter, official data showed on Wednesday, slumping to a new post global financial crisis low and raising analyst expectations for more action to bolster growth. The figure announced...

Ringgit leads Asia forex losses

2015-04-16 MALAYSIA’S ringgit led losses among emerging Asian currencies on Wednesday amid sustained concerns over a slowing Chinese economy with growth in the world’s second-largest economy at a six-year low. The ringgit fell to its weakest level...

Indonesia’s trade surplus highlights export pressures

2015-04-16 INDONESIA’S unexpectedly large trade surplus in the first quarter will help narrow the country’s current account deficit but points to weak exports that will drag on economic growth.Exports from Southeast Asia’s largest economy have been hit by...

Temasek says CEO’s 3-month leave not linked to retirement

2015-04-16 SINGAPORE state investor Temasek Holdings said Chief Executive Ho Ching (pic) is taking a three-month sabbatical but the move is not linked to any plans to retire from the post that she has held since 2004. Temasek did not give a reason for Ho’s...

Wednesday, 15 April 2015

Philippines looks to broaden range of rice suppliers

2015-04-15 THE Philippines’ state grains procurement agency said on Tuesday that it would look to import rice from a broader range of countries including Pakistan, India and Myanmar, as it tries to diversify its supplies of the staple food.One of the world’s...

Singapore surprises by standing pat on monetary policy

2015-04-15 SINGAPORE’S central bank yesterday surprised markets by holding off from further monetary easing, saying an improving outlook for global growth would underpin the trade-reliant economy. The Monetary Authority of Singapore (MAS) said the city-state...

S’wak-W Kalimantan border trade declines with new rules

2015-04-15 CROSS-BORDER trade between Tebedu, Sarawak and Entikong, West Kalimantan declined drastically due to new rules enforced by the Indonesian government.Malaysian International Trade and Industry Minister Mustapa Mohamed said the Tebedu-Entikong trade...

Tuesday, 14 April 2015

Concern over China’s influence over AIIB surfaces ahead of founders’ meeting

2015-04-14 CHINA could have outsized influence over a new Beijing-backed international development bank under a proposed shareholding structure likely to be discussed at a meeting of member nations in Washington this week, sources said.The group will meet on...

AirAsia to list Indonesia, Philippines units

2015-04-14 AIRASIA Bhd, Asia’s largest budget airline by passenger volume, will list its Indonesia and Philippines businesses, group CEO Tony Fernandes said on Monday, without giving any timeline or value for the exercise.The plan for both IPOs will depend on...

World Bank cuts East Asia, China growth forecast

2015-04-14 THE World Bank cut its 2015 growth forecasts for developing East Asia and China, and warned of “significant” risks from global uncertainties including the potential impact from a strengthening dollar and higher US interest rates. The Washington-...

BOJ sees economy improving region by region

2015-04-14 THE Bank of Japan raised its assessment for three of Japan’s nine regions, the most in more than a year, and maintained its rosy view for the remaining areas, signalling that the benefits of its stimulus programme was broadening.A weak yen boosted...

Monday, 13 April 2015

Toyota to build plant in China in investment splurge

2015-04-13 TOYOTA is planning to build a new plant in northern China as the world’s top automaker ramps up investment after a two-year freeze, reports said.Proposals for the plant in Tianjin – due to open in 2018 at the earliest with a capacity of 100,000...

China-led AIIB pledges to be lean, clean and green

2015-04-13 THE China-led Asian Infrastructure Investment Bank (AIIB) will be lean, clean and green, its interim chief said, playing down concerns over transparency and standards governing the institution. The US$50 billion bank, expected to start operations...

Friday, 10 April 2015

Indonesia bans transactions using foreign currencies

2015-04-10 INDONESIA’S central bank has banned the use of foreign currencies for domestic transactions under regulations issued last week and effective July 1.The move was aimed at controlling onshore demand for dollars and easing downward pressure on the...

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