Business » Asia

Wednesday, 26 August 2015

India to auction 20 iron ore mines to revive industry

2015-08-26 INDIA will auction about 20 major iron ore mines this year in its first such sale ever, a top government official said, as it looks to revive its corruption-tainted mining industry.India’s mining sector has been mired in controversy over illegal...

Tuesday, 25 August 2015

ASEAN to upgrade free trade deals

2015-08-25 ASEAN will upgrade its free trade deals with China, Japan and South Korea as the region looks to its East Asian partners for a boost amid current external economic uncertainties. International Trade and Industry Minister Mustapa Mohamed said ASEAN...

Singapore July core inflation edges higher, outlook murky

2015-08-25 SINGAPORE’S core inflation edged higher in July, but growing uncertainty about the outlook for growth and prices was seen likely to keep open the possibility of further monetary easing.The Monetary Authority of Singapore’s (MAS) core inflation...

Commodities slump to 16-year low led by oil

2015-08-25 OIL futures led a dramatic fall in commodity prices yesterday, with US crude trading below US$40 a barrel as fears over China’s economy sent investors fleeing to safe havens like gold.The Bloomberg Commodity Index, which tracks 22 raw materials,...

Thieves in India steal 700 kg of onions as prices hit two-year high

2015-08-25 THIEVES stole 700 kilogrammes of onions from a wholesale trader in central Mumbai, police said, as a surge in prices triggers fears of a return to vegetable heists last seen two years ago.Similar thefts from shopkeepers and traders were common in...

China’s economy: What’s wrong?

2015-08-25 ASIAN stocks nosedived yesterday, led by sharp falls in Shanghai as concerns mount over the health of China’s economy – the world’s second largest.Although Chinese growth, a major engine of global expansion, has been slowing for some time,...

Monday, 24 August 2015

Singapore to raise re-employment age to 67

2015-08-24 SINGAPORE Prime Minister Lee Hsien Loong said on Sunday that the government will raise the re- employment age from 65 to 67 by 2017, after the upcoming general election. Lee, who will be announcing the election date very soon, said in his National...

‘Dollar appreciation has little negative impact on Malaysia’s trade’

2015-08-24 THE appreciation of the US dollar against the ringgit will not have a significant negative impact on Malaysia’s trade as it is backed by the country’s strong economic fundamentals, an economist said. Clarence Wong, Chief Economist, Asia-Pacific at...

Emir of Qatar to invest in 1MDB

2015-08-24 THE Emir of Qatar has decided to invest in 1Malaysia Development Berhad (1MDB), proving that the company is viable in the long run, said Najib Razak.The Prime Minister, however, did not specify the amount of money to be invested in the company.“If...

Coca-Cola to invest US$4b in China over three years

2015-08-24 GLOBAL beverages giant the Coca-Cola Co plans to invest US$4 billion over the next three years in China.Speaking at a groundbreaking ceremony for the company's 45th local production site in Xianghe, Langfang city of Hebei province, on Friday,...

ASEAN’s broader use of renminbi promoted

2015-08-24 ASEAN countries are encouraged to promote a broader use of China’s renminbi in trade and investment as it is the region’s biggest trading partner, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said here yesterday. “In...

Regional bloc needs to lay the base for single capital market

2015-08-24 ASEAN needs to lay the foundation for a single capital market, with strong commitments from all member states to help develop each other’s market, CIMB Group Holdings Bhd Group Chief Executive Officer Tengku Datuk Zafrul Tengku Abdul Aziz said. He...

Cambodia taps Chinese firm to help develop telecom industry

2015-08-24 CAMBODIAN Minister of Post and Telecommunications Prak Sokhonn yesterday praised Chinese-owned Southeast Asia Telecom (Cambodia), or SEATEL, for investing a huge amount of capital in the development of 4G services in Cambodia. Speaking at the...

China’s pension fund allowed access to stock market

2015-08-24 CHINA’S State Council published the final guideline on investment for the country’s massive pension fund yesterday effectively opening the gate for its investment in the stock market. The final plan, released after considering public opinion,...

Saturday, 22 August 2015

Chinese tourists head to Thailand despite fears

2015-08-22   BUSLOADS of visitors from China flocked to Bangkok’s glittering Grand Palace on Friday but, days after a bomb at another of the city’s popular attractions killed five Chinese tourists, Thailand’s biggest spending holidaymakers are rattled....

China manufacturing index tumbles to 77-month low

2015-08-22     A KEY indicator of China’s manufacturing activity slumped to a 77-month low in August, an independent survey showed on Friday, fuelling concerns of further deceleration in the world’s second-largest economy. The preliminary reading of Caixin...

Friday, 21 August 2015

China smartphone sales fall for first time

2015-08-21   SMARTPHONE sales in China, the world’s biggest market for the devices, fell in the second quarter for the first time, market research firm Gartner Inc said yesterday. Sales of smartphones in China declined four per cent in the quarter, the...

China stocks slump again despite gov’t support

2015-08-21 CHINA stocks tumbled again in late trading on Thursday, underscoring fragile investor confidence in the market as worries about the world’s second-largest economy persist. Trading volumes were thin, suggesting many investors stayed on the...

Oil approaches US$40 level in Asian trade

2015-08-21 OIL prices slid to a fresh six-and-a-half-year low in Asia Thursday, approaching the key US$40 a barrel level after a surprise rise in US inventories added to concerns of a supply glut. US benchmark West Texas Intermediate (WTI) for delivery in...

Economy sound, peg not necessary: PM Najib

2015-08-21 PRIME Minister Najib Razak said on Thursday that Malaysia’s economy was on a sound footing, seeking to assuage growing public and investor fears over the nation’s plummeting currency and slowing growth. “Malaysia’s financial system resilience...

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