Business » Asia

Thursday, 10 July 2014

Japan’s shipping giant to set Arctic route

2014-07-10 JAPAN’S Mitsui OSK Lines yesterday announced plans for the world’s first regular commercial shipping route through the Arctic Ocean, starting in 2018, in an attempt to reduce sailing times.The firm said it would initially start moving liquefied...

India’s 2014/15 GDP growth expected to rise 5.9 per cent

2014-07-10 INDIA’S economy is expected to grow by up to 5.9 per cent in the current fiscal year, the new government of Prime Minister Narendra Modi (pictured) said in a major economic report yesterday that called for fiscal consolidation to bring down...

Beijing court rules against Apple in Siri patent case

2014-07-10 A BEIJING court has ruled against Apple Inc by upholding the validity of a patent held by a Chinese company, clearing the way for the Chinese company to continue its own case against Apple for infringing intellectual property rights. Apple had...

Tesla slams China trademark action

2014-07-10 ELECTRIC carmaker Tesla yesterday denounced a Chinese businessman’s lawsuit seeking millions of dollars for alleged trademark infringement as an attempt to “steal” its property and “without any conceivable merit.”Zhan Baosheng, said to be the...

Shrimp producers in Mindanao form group

2014-07-10 MICRO, small and medium enterprises (MSMEs) engaged in shrimp farming in General Santos City (Gensan) and in nearby Sarangani province have formed an association to boost production and set the direction for the industry.Gensan City Councilor Brix...

Wednesday, 9 July 2014

Myanmar gems trade nets US$3.5b

2014-07-09 MYANMAR’S latest official sale of jade, gems and pearl brought in a record high US$3.5 billion, a senior official from the Ministry of Mines told Reuters yesterday.Myanmar is the world’s biggest source of high-quality jade, much of it coming from...

Samsung’s smartphone market share drops

2014-07-09 SAMSUNG Electronics Co Ltd yesterday issued unexpectedly weak quarterly earnings guidance which put it on track for its worst results in two years and cast doubt on the smartphone leader’s strategy against cheaper Chinese rivals.Though the South...

FELDA seeks US$300m NASDAQ listing

2014-07-09 MALAYSIA’S state-owned agri-business conglomerate FELDA is looking to tap growing demand for botanical drugs and treatments with a planned US$300 million listing of a life sciences unit on the Nasdaq exchange by March, company officials said.Felda...

Tesla sued in China for trademark infringement

2014-07-09 US ELECTRIC car maker Tesla Motors Inc is being sued in China for trademark infringement, a surprise development that casts a shadow over CEO Elon Musk’s ambition to expand rapidly in the world’s biggest auto market. Tesla said in January that the...

Singapore’s Temasek remains positive on China banks

2014-07-09 SINGAPORE sovereign investor Temasek Holdings Pte Ltd said yesterday it intends to keep investing in Chinese banks even as it reported a slowdown in its portfolio growth due to a drop in the value of some of its bank holdings.Temasek, headed by Ho...

Philippines tuna industry targets Middle East market

2014-07-09 PREPARATIONS have shifted to high gear for the holding here of the annual National Tuna Congress, which, among others, will explore the potentials of tuna in the Middle East market. Now on its 16th year, the annual tuna conference seeks to improve...

Tuesday, 8 July 2014

In Brief

2014-07-08 Singapore to release advance Q2 data mid JulySINGAPORE: Singapore will report advance data on gross domestic product(GDP) for the second quarter on July 14, the Ministry of Trade and Industry said yesterday. The second quarter advance GDP data will...

Philippines’ ICTSI walks away from Indian container port contract

2014-07-08 PHILIPPINES-BASED port operator International Container Terminal Services Inc (ICTSI) said it agreed with an Indian shipbuilding venture to scrap a three-year-old contract to manage and operate a container terminal, saying the deal was “not...

Vietnam may post US$500 mln trade surplus in 2014

2014-07-08 VIETNAM could post a trade surplus of US$500 million this year, a state-run newspaper reported yesterday, citing revised government forecasts, as it seeks to reduce its reliance on imports from neighbouring China amid an ongoing diplomatic row.The...

Strong performance encourages Peugeot China venture outlook

2014-07-08 FRENCH carmaker PSA Peugeot Citroen’s Chinese joint venture with Dongfeng Motor Group Co Ltd raised its 2014 sales target by about 50,000 vehicles yesterday after a strong first-half sales performance.Dongfeng Peugeot Citroen Automobile Co Ltd sold...

China signs deal for 123 Airbus helicopters

2014-07-08 AIRBUS Group NV’s helicopter division sealed a deal yesterday to sell 123 helicopters to Chinese companies during German Chancellor Angela Merkel’s China visit.The orders, including both light single-engine helicopters from Airbus Helicopters’...

VW to build new plants in China

2014-07-08 German carmaker Volkswagen will build two new vehicle plants in China as it invests two billion euros (US$2.7 billion) along with its partner, it announced yesterday during a visit by Chancellor Angela Merkel.The agreement between the company and...

Monday, 7 July 2014

Indonesia’s next leader to walk into economic storm

2014-07-07 THE winner of this week’s Indonesian presidential election faces serious challenges to keep Southeast Asia’s top economy on track, from cutting fuel subsidies and fighting corruption to revamping creaking infrastructure and boosting spending on the...

Saturday, 5 July 2014

Mindanao town to plant cacao for chocolate supplier

2014-07-05 A SUPPLIER of cacao to US chocolate maker Mars Chocolate has inked a deal to increase the production of the crop in Mindanao.   Kennemer Foods International, Inc, represented by its president Simon Bakker, and the local government unit of...

Friday, 4 July 2014

Auto contractor probed for engine design leak

2014-07-04 A SOUTH Korean contractor was raided by investigators looking into whether it leaked Hyundai Motor and General Motors engine design technology to overseas firms, a senior prosecutor familiar with the probe said on Thursday. The investigation comes...

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