Business » Asia

Tuesday, 17 May 2016

Eight budget carriers in Asia-Pacific form alliance

2016-05-17 EIGHT budget airlines from Southeast Asia, Japan and Australia said yesterday they have formed what they called the world’s largest alliance of low-cost carriers, enabling customers to book connections using a shared platform. The announcement...

Monday, 16 May 2016

Singapore’s Bugis Street Online out to make a difference

2016-05-16 MAKE a difference - that is entrepreneur Ivan Loh’s mantra when it comes to business. It is also one of the guiding principles behind Bugis Street Online, an e-commerce platform enabling vendors from Bugis Street, and other local small-time...

Cautious optimism prevails after Philippine elections

2016-05-16 THE election of controversial politician Rodrigo Duterte to the nation’s highest office has so far had little impact on the robust Philippine economy. In fact, quite the reverse has happened since the polls on Monday. Investors have cheered the...

India eases red tape but foreign firms still struggle

2016-05-16 NARENDRA Modi was elected two years ago this week promising to ease India’s notorious red tape and unpack regulatory tangles, but for foreign firms, doing business in the world’s fastest-growing large economy can still be a costly headache. With a...

China asks Britain for advice on creating financial super-regulator

2016-05-16 CHINA has asked Britain for advice on plans to create a financial super-regulator, as it looks to improve financial oversight following last year’s stock market crash, sources with knowledge of the talks told Reuters. The discussions between...

Saturday, 14 May 2016

El Nino to hit palm oil output in SE Asia

2016-05-14 SOUTHEAST Asia’s palm oil output is likely to drop in 2016 due to dry conditions from the El Nino weather pattern, while the cotton market will trade in a narrow range, Singapore-based trader Olam International said yesterday.Indonesia, the world’s...

Malaysian GDP slows to a nearly seven-year low

2016-05-14 MALAYSIA recorded its slowest economic growth in nearly seven years in the first quarter, as weak exports and tepid domestic demand continue to hurt the trade-dependent nation. In January-March, the economy grew 4.2 per cent from a year earlier,...

Honda recalling millions more cars with Takata airbags

2016-05-14 HONDA said yesterday it would recall millions more cars equipped with airbags made by crisis-hit supplier Takata, in a widening of a scandal that has already led to the biggest auto recall in US history.The announcement came as Honda, Takata’s top...

Friday, 13 May 2016

Sharp posts full-year loss; Hon Hai executive to take helm

2016-05-13 JAPANESE electronics maker Sharp said yesterday it suffered a US$2.3 billion annual loss and released no forecast for the current business year as it assesses the impact of its acquisition by Taiwan’s Hon Hai. The company also said that an...

Nissan takes 34% stake in scandal-hit Mitsubishi

2016-05-13 NISSAN Motor Co is investing 237 billion yen (US$2.2 billion) to take a 34 per cent stake in scandal-ridden Mitsubishi Motors Corp in what Nissan Chief Carlos Ghosn said is “a win-win” deal intended to repeat the success of his Nissan-Renault...

Singapore charges ex-banker with forgery in 1MDB probe

2016-05-13 SINGAPORE charged a former wealth manager at Swiss private bank BSI yesterday with forgery as part of a money laundering investigation related to 1Malaysia Development Berhad (1MDB).The forgery charge is the seventh filed against Yeo Jiawei, a 33-...

Philippine president-elect eyes economic continuity

2016-05-13 PHILIPPINE President-elect Rodrigo Duterte will continue his predecessor’s macroeconomic policies focusing on higher infrastructure spending and fiscal efficiency, aides said yesterday in a bid to end uncertainty around his growth agenda. Duterte...

Thursday, 12 May 2016

Toyota’s profit to fall 35%

2016-05-12 TOYOTA Motor Corp forecast a bigger-than-expected 35 per cent tumble in net profit for the current year due to the sharp appreciation of the yen, ending three straight years of record profits driven in part by a weak currency.The Japanese automaker...

China commodities shakeout hits investors, threatens mills

2016-05-12 ONLY a month ago, Chinese commodities prices were skyrocketing, led by a stampede of speculative investors betting on early signs of recovery in the world’s second-biggest economy.Now, not only has the bubble been popped but a dive has left steel...

Takata logs second year of red ink, hopes profit returning

2016-05-12 TAKATA Corp, the Japanese auto-parts maker behind a massive air-bag recall, is expecting a return to profit for the fiscal year through March 2017, although it just agreed to do more recalls. Tokyo-based Takata reported a 13 billion yen (US$120...

India seeks tycoon’s extradition, says UK nixes deportation

2016-05-12 INDIA will ask Britain to extradite business tycoon Vijay Mallya to face charges of money laundering and bank demands that he pay back more than a billion dollars in loans extended to his now-defunct airline, the finance minister said yesterday....

Mitsubishi fuel cheating on ‘almost all’ Japan models

2016-05-12 MITSUBISHI Motors cheated on fuel-efficiency testing for almost every model it sold in Japan in the last 25 years, a report said yesterday, fuelling questions about the size of a scandal that has plunged the automaker into crisis. Citing unnamed...

Wednesday, 11 May 2016

Saudi Aramco to expand as oil demand grows

2016-05-11 STATE oil giant Saudi Aramco, which could soon become the world’s largest listed company, will keep expanding despite low crude prices, its president said yesterday.“Saudi Aramco will continue to expand,” Amin al-Nasser told reporters during a tour...

Philippine markets rise on Duterte win

2016-05-11 PHILIPPINE stocks and the peso rallied after the election of populist mayor Rodrigo Duterte as the country’s president as markets clawed back some of the losses incurred in the run-up to the vote.Manila’s stocks, which dropped 5.2 per cent between...

Emirates annual profit soars 56% as fuel costs fall

2016-05-11 A STRONG US dollar and the “double-edged sword” of low oil prices have hit the revenues of Emirates, but net profit still surged 56 per cent as passenger numbers rose and fuel bills dropped, the airline said yesterday. Dubai’s carrier said its...

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