Monday, 15 August 2016

Novartis Korea executives charged with bribing doctors

2016-08-15 PROSECUTORS indicted the former chief executive of the South Korean unit of Novartis and five other former and current managers over allegations they illegally paid doctors 2.6 billion won (US$2.3 million) in return for prescribing the company’s...

Indie restaurateurs find a perfect fit in boutique hotels

2016-08-15 FINDING the right place to open an indie restaurant can be a headache for many owners. A mall? Too mainstream. A tucked-away space in a hip, far- flung enclave? Inconsistent traffic. One happy medium, some restaurants have found, is to open in a...

Japan banks lay groundwork for business growth in Southeast Asia

2016-08-15 MAJOR Japanese banks are strengthening their support for small and midsize enterprises seeking to exploit markets in Southeast Asian countries. These banks have formed a succession of capital and business tie-ups with local banks in those...

Sunday, 14 August 2016

Singapore can become a ‘trade brain hub’

2016-08-14 BLOCKCHAIN, crowdfunding and robo-advisers. These are some of the terms in the brave new world of banking that comes with jargon of its own.Fed up with poor stock tips from your remisier? A robo-adviser can give you unbiased advice — for half the...

Saturday, 13 August 2016

Bombing saps Thai tourism industry’s confidence

2016-08-13 AN HOUR before midnight, Andrea Tazzioli was fetching his own birthday cake, looking forward to celebrating with friends in this balmy beach resort town, a world away from his stressful military work in Afghanistan. Then the bomb went off. “I saw...

Malaysia GDP growth slows to 4% in Q2

2016-08-13 MALAYSIA’S economic growth eased in the second quarter, the central bank said yesterday, attributing the slowdown to a decline in exports amid subdued global demand.The economy grew 4.0 per cent year-on-year in the April to June period, compared...

Toshiba logs first profit in 6 quarters

2016-08-13 TOSHIBA Corp yesterday said extensive restructuring helped the Japanese conglomerate swing to its first operating profit in six quarters, signalling recovery from a US$1.3 billion accounting scandal that unmasked underperforming operations....

Indonesia slashes property tax

2016-08-13 INDONESIA is cutting in half a tax on home sales from September, according to a presidential regulation, a move that should help the country’s property sector. The sellers of homes will be subject to a final tax of 2.5 per cent of the transaction...

‘China’s economy is stable’

2016-08-13 A CHINESE official tried yesterday to reassure companies and investors that economic growth is stable despite unexpectedly weak July activity but acknowledged it faces pressure from lackluster global demand. Weakness in factory output, imports and...

IN BRIEF

2016-08-13 Aussie official rejects criticisms of China banCANBERRA: Australia’s treasurer on Friday rejected accusations that the true reason his government plans to ban Chinese bidders from leasing a Sydney electricity grid is to appease influential...

India gives diesel vehicles reprieve in Delhi

2016-08-13 INDIA’S Supreme Court handed a reprieve to the auto industry on Friday, ruling that new diesel vehicles can be allowed on the streets of the national capital as long as a one per cent “green” tax is paid.The news was welcomed by the auto industry...

Japan searches for 8 missing Chinese

2016-08-13 JAPANESE coast guard ships searched Friday for eight missing Chinese crewmembers after rescuing six others from a fishing boat that collided with a cargo ship off disputed islands in the East China Sea, government officials said.The boat apparently...

S Korea president pardons over 4,000 to mark holiday

2016-08-13 SOUTH Korean President Park Geun-hye on Friday granted pardons to 4,876 people ahead of next week’s Liberation Day holiday, including the chairman of CJ Group, the country’s 15th largest conglomerate by assets.Lee Jay-hyun, the ailing 56-year-old...

Friday, 12 August 2016

VW Korea head apologises, questioned on emission fraud

2016-08-12 THE head of Volkswagen’s South Korean unit apologised yesterday as he presented himself to state prosecutors for questioning over the German carmaker’s emissions fraud scandal. Johannes Thammer, CEO of Volkswagen Korea, was summoned by the Seoul...

Pokemon Go can be a boon for telcos

2016-08-12 The big winners from Pokemon Go could be the Singaporean telcos, as gamers ramp up their use of data to play the hotly anticipated game. Since its weekend launch, the app has become one of the most downloaded ones here. There is no Singapore-...

Singapore cuts 2016 growth forecast

2016-08-12 SINGAPORE yesterday narrowed its economic growth forecast for this year, citing concerns over the weaker global outlook and the impact of Britain’s vote to leave the EU. Gross domestic product (GDP) for the city-state, regarded as a bellwether for...

Australia blocks electricity network sale to China

2016-08-12 AUSTRALIA blocked the 10 billion Australian dollar-sale of its biggest energy grid to State Grid Corp of China and Hong Kong’s Cheung Kong Infrastructure Holdings citing security concerns, a blow to the country’s privatisation plan. Nine months...

China’s Alibaba Q1 revenue up 59%

2016-08-12 CHINESE e-commerce giant Alibaba saw revenues leap 59 per cent year-on-year for the quarter ended in June, it said yesterday, its strongest growth since it listed on the New York Stock Exchange in 2014. Revenue for the company, seen as a proxy for...

Thursday, 11 August 2016

Fears ease over China’s weaker yuan

2016-08-11 A YEAR ago on Thursday Chinese authorities stunned global markets by devaluing their yuan currency, raising fears the world’s second-largest economy was worse off than thought – but investors are now more sanguine about a weaker “redback”.The...

Pokemon Go boosts merchandise sales in Taiwan

2016-08-11 HIT mobile game Pokemon Go has rocketed to the top of app downloads on both Google Play and iOS, while sales of Pokemon merchandise more than tripled in the first two days of the game’s release.Mighty Media Co, merchandiser of Pokemon products in...