Business » Asia

Tuesday, 20 January 2015

Malaysia to unveil policy changes as oil earnings slide

2015-01-20 MALAYSIAN Prime Minister Najib Razak will announce policy changes, including likely budget revisions, today to help its oil exporting economy adjust to the impact of slumping global crude prices.Southeast Asia’s third-largest economy relies on oil...

Weak El Nino unlikely to disrupt Southeast Asia palm oil supply

2015-01-20 THE weak El Nino conditions expected over the next three months are unlikely to disrupt palm oil output in Southeast Asia, the source of most of the world’s supply, the head of a palm research company said yesterday.Ling Ah Hong, director at...

HK leader falls short on housing promises

2015-01-20 HONG KONG leader Leung Chun-ying took power in 2012 with a pledge to make housing more affordable, but since then both home prices and the waiting list for public housing have jumped by a third, stoking calls for him to step down.While demands for...

BHP tipped to cut US shale spend

2015-01-20 BHP Billiton Ltd may be forced to slash its planned US$4 billion spending this year on US shale wells and book writedowns on its shale assets as it battles plunging prices for its biggest earners iron ore, oil and copper.The mining giant, which has...

Monday, 19 January 2015

Mobile tech spurring innovation in China

2015-01-19 MOBILE technologies account for about four per cent of China's gross domestic product, an industry report said on Friday.The nation is now home to more inventors in mobile technologies than any other countries except the United States and South...

China growth hit 24-year low in 2014

2015-01-19 CHINA’S annual GDP growth slowed to its weakest rate in more than two decades in 2014, according to an AFP survey, projecting further deceleration in the world’s second-largest economy this year. The median forecast in a poll of 15 economists saw...

Saturday, 17 January 2015

Alibaba to court China consumer for US retailers

2015-01-17     CHINA’S Alibaba Group Holding Ltd plans a major move to win US business this year, by offering American retailers new ways to sell to China’s vast and growing middle class. Anchored by Alipay, the dominant Chinese electronic payments system...

China’s global investment set to pass inward flows as economy cools

2015-01-17 CHINA’S foreign direct investment (FDI) rose at its slowest pace in two years in 2014, underscoring a cooling economy which is spurring more Chinese businesses to plough money overseas in a trend that is soon set to overtake inbound investment. As...

Friday, 16 January 2015

India makes surprise interest rate cut

2015-01-16 INDIA’S central bank cut interest rates by 25 basis points yesterday, the first time in almost two years, in a surprise announcement to boost the flagging economy after inflation eased.The Reserve Bank of India (RBI) reduced the benchmark repo rate...

M’sia tycoon in talks to take key stake in 1MDB US$3b IPO

2015-01-16 MALAYSIA’S second-richest man, Ananda Krishnan, is in talks with state firm 1MDB to become a cornerstone investor in a long-delayed, US$3 billion listing of its power assets, two people familiar with the matter said yesterday.The reclusive...

S Korea slashes 2015 economic growth forecast

2015-01-16 SOUTH Korea’s central bank yesterday slashed its 2015 economic growth forecast and kept its benchmark interest rate unchanged at a record low amid growing concerns of deflation.Bank of Korea (BOK) Governor Lee Ju-Yeol put the new estimate for Asia’...

Thursday, 15 January 2015

Zero-duty perks to boost intra-ASEAN trade

2015-01-15 INTRA-ASEAN trade is likely to expand from current 24 per cent to 34 per cent, spurred by zero-duty incentives on ASEAN Free Trade Area (AFTA).Ministry of International Trade and Industry senior director of ASEAN Economic Cooperation Division, P...

In Brief

2015-01-15 Japan approves record US$814 billion budgetTOKYO: Japan’s Cabinet approved a record 96.3 trillion yen (US$814 billion) government budget for the coming fiscal year on Wednesday after a tax hike to accommodate rising outlays for social security and...

Shanghai allows foreigners to fully own e-commerce firms

2015-01-15 CHINA has allowed foreign investors to fully own e-commerce companies in Shanghai’s free trade zone as part of a pilot scheme, the official Xinhua news agency said on Wednesday, citing the Ministry of Industry and Information Technology. Foreign...

Malaysian banks call off mega US$20 billion merger

2015-01-15 TWO Malaysian finance firms confirmed Wednesday reports that they have scrapped a proposed merger worth US$20.3 billion that would have created the country’s biggest bank citing poor economic conditions.In a joint statement to the media, banks CIMB...

Thai tourism focuses on provinces

2015-01-15 MORE programmes and activities have been added to the national tourism campaign, “Discover Thainess”, to stimulate travel to the provinces.Tourism Minister Kobkarn Wattanavrangkul said most of the new activities were for communities upcountry, such...

Laos eyes sale of electricity to S’pore

2015-01-15 FOUR ASEAN nations – Laos, Malaysia, Singapore and Thailand – held talks recently in Vientiane to consider a plan that would see Laos export electricity to Singapore via transmission lines in Malaysia and Thailand.Senior officials from the four...

Myanmar first stock exchange by Oct

2015-01-15 MYANMAR’S deputy finance minister has said the country will launch its first official stock exchange by October, as the emerging economy takes another step towards opening up after decades of isolation.Maung Maung Thein said the former junta-run...

Wednesday, 14 January 2015

China 2014 trade surplus rockets to record high

2015-01-14 CHINA’S trade surplus soared by almost half last year to a record US$382 billion, the government announced on Tuesday, but the world’s second-largest economy again missed its trade growth target due to weakness overseas. Exports increased 6.1 per...

Pages