Business » Asia

Thursday, 19 March 2015

China announces audit of state company assets abroad

2015-03-19 THE Cabinet agency that oversees China’s biggest banks, oil producers and other government companies has announced plans to have outside auditors examine their foreign assets in a new move to tighten control over state industry.The announcement...

China Feb new home prices fall at fastest rate on record

2015-03-19 CHINA’S average new home prices fell at the fastest pace on record in February from a year earlier, hurt by slower sales during the Lunar New Year holidays, but developers and analysts expected prices to slowly recover - particularly in top-tier...

ASEAN airlines poised for rapid growth, says Liow

2015-03-19 AIRLINES in ASEAN countries are poised for rapid expansion over the next decade as they take on the delivery of an estimated 3,000 new commercial aircraft worth about US$500 billion by 2032. Transport Minister Datuk Seri Liow Tiong Lai said the...

Langkawi to be AirAsia’s next int’l hub

2015-03-19 AIRASIA plans to make the Langkawi airport here its next international hub by generating at least one million passengers. AirAsia Group Chief Executive Officer Tan Sri Tony Fernandes said the plan is expected to take off in four months time...

Boeing pins hopes on Malaysia F/A-18 order

2015-03-19 US PLANE manufacturer Boeing, in talks with Malaysia for the sale of 18 F/A-18 fighter jets, is pinning its hopes on an order to give a boost to the struggling product, executives of the planemaker said on Wednesday.The F/A-18 model, French firm...

Cathay Pacific profits in 2014 below expectations

2015-03-19 HONG KONG flag carrier Cathay Pacific’s net profit for 2014 rose more than 20 per cent but failed to meet analysts’ expectations, results showed on Wednesday, with the airline hit by losses on fuel hedging.Cathay, whose shares dipped on the news,...

Wednesday, 18 March 2015

Nintendo answers call to develop smartphone games

2015-03-18   AFTER years of scoffing at the threat from smartphones, Nintendo Co is doing an about face and entering an alliance with Japanese mobile game company DeNA Co to develop games for mobile devices. The announcement yesterdaymeans that Nintendo's...

Rains melt Philippinessugar output forecast

2015-03-18 SUGAR output in the Philippines, a key US supplier, is now expected to be below the government's initial forecast of 2.5 million tonnes for the current crop year due to bad weather, prompting the industry regulator to cut allocations for exports....

New M’sian airline in US$1.4b deal

2015-03-18 A NEW Malaysian airline, flymojo, yesterday inked an agreement to buy 20 CS100 aircraft from Bombardier Inc, giving the Canadian manufacturer its first customer for the plane in Southeast Asia.A joint statement said the deal, signed in preliminary...

Defying US, EU major statesto join China-backed bank

2015-03-18 GERMANY, France and Italy said yesterday they had agreed to join a new China-led Asian investment bank after close ally Britain defied US pressure to become a foundingmember of a venture seen in Washington as a rival to the World Bank.The concerted...

Tuesday, 17 March 2015

Southeast Asia attracts more FDI than China for 2nd year

2015-03-17 SOUTHEAST Asia’s major economies drew more foreign direct investment (FDI) combined than China for the second straight year in 2014, as growth in their giant neighbour cooled. But by country, inflows into the region were uneven, swayed by political...

Monday, 16 March 2015

Indonesia reluctant to join ASEAN trading link

2015-03-16 THE Indonesia Stock Exchange (IDX) is still reluctant to join the ASEAN Trading Link, a cross-border trading gateway among ASEAN members, because of the lack of a dispute-settlement system, a senior official with the capital market watchdog has...

China has plenty of room to manoeuvre policy: Premier Li

2015-03-16 CHINA has a lot of room to manoeuvre its policy and boost its economy having avoided using strong, short-term stimulus in recent years, Premier Li Keqiang said on Sunday, in a rare suggestion that authorities can do much more to stoke growth. Li,...

Samsung Electronics pledges to restore profits

2015-03-16 SAMSUNG shareholders on Friday promised continuing support for Samsung Electronics despite its slumping profits last year.The Korean tech giant held an annual shareholders’ meeting at its headquarters in Seocho-dong, Seoul, with some 400...

Saturday, 14 March 2015

Oil prices rebound in Asia

2015-03-14 OIL prices climbed in Asia Friday as news of a deal to end a strike at US refineries helped reverse losses that had been fuelled by another leap in US inventories. US benchmark West Texas Intermediate (WTI) rose 13 cents to US$47.18 and Brent...

Malaysia’s external debt manageable, says Finance Ministry

2015-03-14 THE Malaysian federal government's external debt position is manageable and puts the country in the moderately indebted category, says the country’s Finance Ministry.   At end of 2014, the federal government's domestic and offshore debts totalled...

Friday, 13 March 2015

Malaysia hires banks to manage US$2b sovereign Islamic bond issue

2015-03-13 MALAYSIA has hired three lenders to manage the issuance of a sovereign Islamic bond, or sukuk, of up to US$2 billion, according to two sources with knowledge of the deal. The banks are CIMB Group Holdings Bhd, HSBC Holdings Plc and Standard...

China wants yuan to be included in IMF reserve currency

2015-03-13 CHINA is in talks with the International Monetary Fund for the Washington-based institution to add the yuan to its basket of reserve currencies, a top banking official said Thursday as Beijing seeks a greater global role for the unit.It hopes the...

Alibaba to invest US$200m in Snapchat

2015-03-13 ALIBABA Group Holding Ltd is investing US$200 million in photo-messaging app Snapchat, a source familiar with the deal said, striking its latest Silicon Valley deal as the Chinese ecommerce company builds up mobile services.The investment values...

Thursday, 12 March 2015

China industrial output, retail sales slow

2015-03-12 GROWTH in China’s industrial output, retail sales and fixed asset investment all slowed to multi-year lows in January and February, official data showed yesterday, as the world’s second-largest economy expands at its weakest pace in a quarter...

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