Business » Asia

Wednesday, 12 November 2014

Alibaba Singles’ Day sales hit US$8b

2014-11-12 E-COMMERCE giant Alibaba’s Singles’ Day sales broke through the US$8 billion ($10.38 billion) mark late yesterday, illustrating the buying power of the Chinese consumer and the importance of the event in the retail calendar. The live sales figure...

Japan’s Abe defends Bank of Japan stimulus

2014-11-12 JAPAN Prime Minister Shinzo Abe yesterday staved off criticism that Japan’s ultra-loose monetary policy was aimed at weakening the yen, as its fall to a seven-year low against the dollar sowed unease among rival exporting nations, like South Korea...

Tuesday, 11 November 2014

Panasonic mulls M&A in Europe

2014-11-11 JAPANESE electronics conglomerate Panasonic Corp is considering M&A deals to bolster its position in the European home appliance market, its chief executive said yesterday, as it shifts its focus to growth following years of restructuring. “We...

2 regional banks in Japan to merge to boost viability

2014-11-11 TWO local banks of Japan, Kagoshima Bank Ltd. and Higo Bank Ltd. operating in Japan’s southwest, announced plans to merge yesterday with the expected affiliation likely to create the nation’s ninth largest regional banking group when its doors open...

HK, Shanghai stock link to launch

2014-11-11 A TRADING link between Hong Kong and Shanghai’s stock exchanges will start on November 17 after weeks of delays, the Hong Kong exchange announced yesterday, in a move that lifted both markets and is expected to lead to billions of dollars in daily...

Thaicom Q3 net profit down 12%, below forecast

2014-11-11 THAICOM PCL, Thailand’s largest satellite operator, said yesterday third-quarter net profit dropped 12 per cent as loss from a subsidiary outweighed higher revenue from broadcasting and broadband satellite business.Third-quarter net profit fell to...

NZ to help Chinese food giant in safety

2014-11-11 CHINA National Cereals, Oils and Foodstuffs Corporation (COFCO), the country’s largest agricultural and food products supplier, has signed an agreement with a New Zealand government-owned food safety firm and a multinational business consultancy...

Monday, 10 November 2014

Wal-Mart to focus on food safety in China

2014-11-10 WAL-MART Stores Inc is focusing on food safety as the world’s largest retailer aims to boost profitability of its more than 400 stores in China, Wal-Mart Asia chief executive Scott Price told Reuters. Food safety is a highly emotive issue in China...

Xiaomi to raise US$1.5b

2014-11-10 CHINESE smartphone manufacturer Xiaomi Inc is talking to investors and banks to raise about US1.5 billion in its fifth round of financing, local media reported.The fundraising target is roughly US$1.5 billion, which would be the largest investment...

Pakistan to get US$1.1b from IMF for good showing

2014-11-10 PAKISTAN will more likely receive a loan instalment US$1.1 billion from the International Monetary Fund (IMF) next month because the latter was satisfied with its economic performance, officials said on Saturday, after the two sides successfully...

India pledges tough land, tax reforms

2014-11-10 INDIA will push ahead with tough land acquisition and tax reforms aimed at boosting investment and kickstarting the economy, Finance Minister Arun Jaitley said yesterday.He added that changes were needed to existing legislation to speed up the...

Saturday, 8 November 2014

Singapore’s GIC buys stake in New Zealand malls

2014-11-08     SINGAPORE sovereign wealth fund GIC will acquire a 49 per cent stake in five shopping malls in New Zealand for NZ$1.04 billion (US$798 million), its joint-venture partner said. Scentre Group, New Zealand’s largest shopping centre operator,...

SIA not considering takeover bid for Tiger Airways

2014-11-08   SINGAPORE Airlines is not currently considering a full takeover of partly-owned low-cost carrier Tiger Airways, even though it is raising its stake in the firm, the parent’s chief executive Goh Choon Phong said yesterday. SIA said in October...

Friday, 7 November 2014

Woodside in talks to resolve E Timor gas dispute

2014-11-07 AUSTRALIA’s Woodside Petroleum is in talks with East Timor on building an onshore gas plant, potentially removing one of the major barriers to developing gas fields that could provide billions of dollars to one of the world’s poorest countries....

Oman seeks investments from Malaysia

2014-11-07 OMAN has sought investments from Malaysia in its potential markets, particularly halal food, healthcare, construction, tourism and oil and gas sectors. Nader Abbas, general manager of Omanexpo LLC, an event management company in Oman, said...

Lenovo Q2 revenue drop hits smartphone hopes

2014-11-07 LENOVO Group Ltd reported quarterly revenue that missed analyst estimates, with a decline in smartphone sales curbing investor optimism about the world’s biggest maker of personal computers (PCs) turning into a force in mobile devices. Lenovo’s...

Thursday, 6 November 2014

E Timor boots judges over ConocoPhillips tax fight

2014-11-06 EAST Timor has ordered five foreign judges out of the country after a court ruled in favour of US oil and gas producer ConocoPhillips in cases tied to US$236 million in disputed tax assessments. ConocoPhillips operates the Bayu Undan gas field in...

Thai central bank stands pat, sees room for rate cut

2014-11-06   THAILAND’S central bank left its benchmark interest rate unchanged yesterday, as expected, but said there was still room to cut rates if needed as economic growth slows. The Bank of Thailand (BOT) said it would cut its economic growth forecasts...

China draft rules to ease limits on foreign investment

2014-11-06 CHINA is moving to raise its global competitiveness by loosening restrictions on foreign investment in more manufacturing and services sectors, the country’s top regulator said. In a draft foreign investment catalogue China’s National Development...

Vietnam likely to face trade deficit in 2015

2014-11-06 VIETNAM is forecast to face a trade deficit in 2015 after three consecutive years of trade surplus, according to the Ministry of Industry and Trade ( MoIT). The export revenues in 2015 are predicted to increase by roughly 10 per cent to US$163...

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