Business » Asia

Thursday, 21 January 2016

Under Salman, Saudi takes steps out of welfare state

2016-01-21 FACED with a massive decline in oil revenues, Saudi Arabia’s King Salman marked his first year in power by taking steps to end his kingdom’s generous welfare system. In a year that could set the pace for moving the Saudi economy away from near-...

Thai Airways to delay taking delivery of 14 planes to cut costs

2016-01-21 THAI Airways International Pcl plans to postpone taking delivery of 14 planes for three years to reduce operating costs as the national airline restructures, it said yesterday. The 14 planes include 12 Airbus 350s, of which two that were due to be...

Malaysia CPI up 2.7 per cent in December 2015

2016-01-21 MALAYSIA’S Consumer Price Index (CPI) for December 2015 rose 2.7 per cent to 114.8 compared with 111.8 in the same month last year, the nation’s Statistics Department said. The department said the higher CPI was led by increases in the indices for...

China’s central bank plans to launch its own digital currencies

2016-01-21 CHINA’S central bank wants to launch its own digital currencies to cut the costs of circulating traditional paper money and boost policymakers’ control of money supply, the People’s Bank of China (PBOC) said yesterday. A PBOC research team set up...

Asia stocks sink again as oil heads further south

2016-01-21   ASIAN markets suffered another rout yesterday with the previous day’s China-fuelled rally wiped out by ongoing worries about plunging oil prices and the state of the world economy. The International Monetary Fund’s decision to downgrade its...

Wednesday, 20 January 2016

Malaysia says committed to B10 biodiesel despite low oil prices

2016-01-20 MALAYSIA is committed to its plan to raise its biodiesel mandate to 10 per cent, undeterred by a slump in global fossil fuel prices, in a bid to boost demand for palm oil, the country’s plantation and commodities minister said yesterday. The so-...

South Korea sues Volkswagen’s local head over recall plan

2016-01-20 SOUTH Korea said yesterday it was filing a criminal complaint against the head of Volkswagen AG’s Korean office, saying a plan it submitted for recalling emissions-cheating vehicles was legally deficient. The environment ministry said the suit –...

China c bank to inject US$91b to ease liquidity strains

2016-01-20 CHINA’S central bank said yesterday that it will inject more than 600 billion yuan (US$91.22 billion) to help ease a liquidity squeeze expected before the Lunar New Year in early February. The People’s Bank of China (PBOC) will inject the funds...

Vietnam coffee trade slow, prices dip after Dec export jumps

2016-01-20 TRADING in Vietnamese coffee has slowed yesterday after robusta futures prices hit a fresh low, while ample supply is expected to help loading of beans until a major festival next month, traders said. Vietnam, the world’s largest robusta producer...

China stimulus hopes propel world stocks higher

2016-01-20 GLOBAL stock markets raced higher yesterday as China’s economic growth hit a 25-year low and sparked speculation of more government stimulus that would buoy the world’s second biggest economy. China’s gross domestic product (GDP) expanded 6.9 per...

Tuesday, 19 January 2016

India’s NALCO revives $2b Iran smelter plan as sanctions end

2016-01-19 INDIA’S national aluminium company NALCO will soon send an official team to Iran to explore setting up a smelter complex worth about US$2 billion, its boss said, as world powers lift sanctions on Iran that had made negotiations difficult. NALCO...

Growing appetite for soybeans to crimp China’s palm oil needs

2016-01-19 GROWTH in China’s palm oil imports, under pressure due to a slowing economy, will suffer another setback this year as the country taps into ample global supplies of the rival oilseed soybean to feed its expanding livestock sector. Any dent to palm...

Monday, 18 January 2016

China-led development bank aims to swiftly approve loans

2016-01-18 THE head of the newly opened Asia Infrastructure Investment Bank said the China-led group is aiming to approve its first loans before the end of the year, part of Beijing’s efforts to weave together regional trade partners and solidify its global...

China growth slides to 25-year low in 2015

2016-01-18 CHINA recorded its lowest growth in a quarter of a century in 2015, an AFP survey has forecast, projecting a further slowdown in the world’s second-largest economy this year.Official gross domestic product (GDP) statistics for 2015 will be...

China central bank to raise offshore yuan reserve requirements

2016-01-18 CHINA’S central bank is preparing to raise the reserve requirement ratio for yuan deposits placed in yuan clearing banks from Jan 25 in its latest bid to stem speculation in the currency, according to three sources who have seen the document...

Vietnam sees reform opportunities, labour challenges in TPP

2016-01-18 AFTER organising communist Vietnam’s first peaceful mass strike at a shoe factory, labour activist Do Thi Minh Hanh was arrested, beaten bloody by police, and jailed for four years. Authoritarian Vietnam does not allow the millions of workers in...

Saturday, 16 January 2016

Funding lifts Uber China valuation to over US$8 billion

2016-01-16   UBER Technologies Inc’s China unit boosted its valuation to more than US$8 billion after it raised over US$1 billion in its latest funding round, although the US ride-hailing app is not yet profitable in the mainland due to intense competition...

Thailand’s working-age population seen shrinking 11% by 2040

2016-01-16 THAILAND will need to add migrant workers, draw more women into its workforce and delay the retirement age to battle an expected drop of 11 per cent in its working-age population by 2040, a World Bank economist says.The fall is expected to be the...

China’s Xi to visit Saudi, Iran in new diplomacy push

2016-01-16 CHINESE President Xi Jinping will make an unusual visit next week to Saudi Arabia and Iran, who are locked in a bitter dispute, in what could be a bid by Beijing to act as an “honest broker” as it seeks a greater regional diplomatic role.While...

Chinese stocks breach Dec 2014 closing low

2016-01-16 CHINESE shares tumbled again yesterday, with the Shanghai index closing lower than at any time since December 2014, leaving most who put their faith in Beijing’s measures to end last summer’s crash nursing losses.On the currency markets the yuan...

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