Business » Asia

Friday, 5 December 2014

Asia oil prices rise on lower US supplies

2014-12-05 OIL prices rose in Asia yesterday after a dip in US stockpiles raised optimism about energy demand in the world’s top crude consumer during the winter season, analysts said. US benchmark West Texas Intermediate (WTI) for January delivery rose 56...

Toyota expands air bag recall in Japan, China

2014-12-05 TOYOTA Motor Corp said yesterday it would call back 190,000 more vehicles to replace potentially defective air bags made by Takata Corp, and Japan’s regulator said it may change its recall system to better respond to what it called an “...

Thursday, 4 December 2014

China rolls ahead with merger of train makers

2014-12-04 CHINA is moving forward with the merger of its two top train makers, a state-backed newspaper said yesterday, with a plan to create a massive group to export high-speed railway technology.State media have previously said the merger of state-owned...

Indonesia to lead SE Asia online shopping boom

2014-12-04 INDONESIA is set to lead a boom in online shopping across Southeast Asia as Internet access explodes and investors pour money into a rapidly growing host of retail startups, analysts say. Much like China several years ago, the region is enjoying a...

Mongolia restarts bidding on giant coal project

2014-12-04 Mongolia has relaunched an international tender to develop its giant Tavan Tolgoi coal project as it tries to boost a flagging economy hit by falling commodity prices and a decline in foreign investment.The latest attempt has drawn interest from...

Indonesia may disband or relocate state oil trader

2014-12-04 Indonesia may force state oil and gas producer Pertamina to disband its trading unit or relocate it to bring more transparency to operations that supply the country with one third of its daily oil needs, said a member of the government’s energy...

Takata CEO called to explain air bag crisis

2014-12-04 Japan’s powerful industry ministry has summoned Shigehisa Takada, chairman and CEO of Takata Corp to explain what the company is doing to resolve a crisis over potentially deadly air bags, two people with knowledge of the matter told Reuters.Takada...

Wednesday, 3 December 2014

Takata to comply with US order to expand regional recall

2014-12-03 TAKATA Corp is preparing to comply with a US order to expand a region-specific recall nationwide, the Nikkei said on Tuesday, a move that’s likely to add millions more to the tally of cars called back to replace potentially deadly air bags.The US...

Samsung Electronics exits fibre optics to focus on smartphones

2014-12-03 SAMSUNG Electronics Co Ltd agreed to sell its fibre optics operations to US specialty glass maker Corning Inc, exiting another non-core business to focus on shoring up underperforming key areas like smartphones.Terms of the sale, including plants...

M’sian gov’t confident of hitting fiscal deficit target

2014-12-03 THE Malaysian government remains confident of achieving its fiscal deficit target of 3.5 per cent of gross domestic product (GDP) for this year following the removal of fuel subsidies for RON95 petrol and diesel, said the Second Finance Minister...

Malaysia’s Asian Healthcare Group seeks US$219m IPO

2014-12-03 MALAYSIA’S Asian Healthcare Group Bhd said it plans to raise up to 750 million ringgit ($286.433 million) with a special purpose acquisition vehicle (SPAC) to tap rising demand for private healthcare from Asia’s burgeoning middle class.A SPAC is a...

Indonesia’s Bumi units file for US creditor protection

2014-12-03 SHARES in Indonesia’s biggest coal miner PT Bumi Resources Tbk rose the most yesterday in over four months after three of its units filed for protection from US creditors after failing to make debt interest payments.The filing comes a week after...

Thailand to spend US$3b on urgent water projects

2014-12-03 THAILAND’S military government plans to spend about 100 billion baht ($3.98 billion) on urgent water management projects in the fiscal year started Oct 1, the prime minister said on yesterday.The projects are part of a new water management plan and...

Tuesday, 2 December 2014

Malaysia ringgit sees huge two-day loss

2014-12-02 MALAYSIA’S ringgit was set on Monday to suffer its biggest two-day slide since the 1997-98 Asian financial crisis as tumbling oil prices threatened to undermine the oil exporter’s economy.The ringgit fell 2.4 per cent to 3.4300 per dollar as of...

Monday, 1 December 2014

Malaysia sees 400% rise in batik producers

2014-12-01 EFFORTS to revive interest in batik in Malaysia has resulted in 400 per cent increase in the number of batik item producers to 800 now from 200 in 2012. Yayasan Budi Penyayang Malaysia (Penyayang) chairman, Nori Tun Abdullah said at one time, the...

China launches draft rules for insurance of bank deposits

2014-12-01 CHINA on Sunday issued draft regulations to introduce a bank deposit insurance system for the first time, the latest in a series of steps to fully liberalise interest rates and allow banks to compete on a wholly commercial basis.The draft rules,...

Saturday, 29 November 2014

India says no compromise in WTO deal

2014-11-29 INDIA said yesterday that food security for its millions of poor had been safeguarded in a landmark global trade reform deal adopted by the World Trade Organisation (WTO).New Delhi and Washington struck an agreement earlier this month on protecting...

Malaysia Airlines losses widen in wake of disasters

2014-11-29 CRISIS-STRICKEN Malaysia Airlines said yesterday its third-quarter loss widened 54 per cent in the wake of two devastating air disasters that have sent its business into a tailspin and prompted a government rescue. The company’s net loss for the...

Japan megabanks urged to share project financing

2014-11-29 JAPAN’S biggest banks have begun including their smaller regional peers in overseas project financing deals - a development pushed for by financial authorities keen for regional lenders to reduce their outsized dependence on government bond...

Friday, 28 November 2014

China plans to insure deposits

2014-11-28 CHINA’S central bank has drawn up plans for the introduction of an insurance system for bank deposits, and the draft rules could be announced soon, three sources with knowledge of the matter said on Thursday.China has considered insuring savers’...

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