Business » Asia

Thursday, 17 July 2014

Toyota likely to seek damages from Nippon Steel over stains

2014-07-17 TOYOTA Motor Corp is likely to seek damages from Nippon Steel & Sumitomo Metal Corp , the automaker said, after smoke released in June from the steelmaker’s Nagoya plant left soot and tar stains on Toyota vehicles parked at shipping yards.Japan...

Samsung battles on two fronts

2014-07-17 SAMSUNG Electronics Co Ltd is losing smartphone ground not only to cheaper Chinese rivals but also at the high end to Apple Inc, a survey showed, in an ominous sign for the South Korean giant as Apple readies to launch its next-generation iPhone 6...

Global halal exchange offers online marketplace for halal industry

2014-07-17 DAGANG NeXchange Bhd has made the halal industry easier and more accessible via its globalhalalexchange.com, an online medium for companies or individuals to get suppliers or buyers for their products and services. A statement from Dagang NeXchange...

Tuesday, 15 July 2014

Singapore GDP shrinks unexpectedly in Q2

2014-07-15 SINGAPORE’S gross domestic product contracted in April-June for the first time in seven quarters, hit by a sharp drop in manufacturing activity that reflects tough structural and policy challenges facing the government and the economy.Singapore’s...

CIMB bank merger with RHB comes with ‘risks’

2014-07-15 RATINGS agency Fitch warned on Monday that a merger plan by Malaysia’s second largest bank CIMB Group with RHB Capital and Malaysia Building Society to create the country’s biggest lender was fraught with risk.“The proposed merger of CIMB, RHB and...

Indonesia’s Lion Air in talks to buy Qantas stake in Jetstar Asia

2014-07-15 INDONESIA’S Lion Air Group is in talks with Qantas Airways Ltd about buying the Australian carrier’s stake in the Singapore-based affiliate of its budget airline Jetstar, a person familiar with the matter told Reuters.The talks to buy out Qantas’...

Samsung halts business with supplier on child labour concern

2014-07-15 SAMSUNG Electronics Co Ltd said it halted business with a supplier in China over suspected use of child workers, the first time it has taken such a step, after criticism that its monitoring of labour practices at suppliers was inadequate. The...

Monday, 14 July 2014

Bookstores in Korea struggle for survival

2014-07-14 BOOKSHOPS in Korea are closing amid fierce price competition and declining demand.Korea’s oldest bookstore in Seoul, Jongno Books, was a landmark in terms of numbers of customers and its symbolic significance as the trove and exchange of knowledge....

Samsung, Kakao may enter into mobile payment market

2014-07-14 SOUTH Korean tech giants Samsung Electronics and Kakao are expected to muscle into the domestic mobile payment market, which has long been dominated by financial companies, industry sources said.A recent media report said that Samsung Electronics...

China to strengthen ties with resource-rich S America

2014-07-14 CHINESE President Xi Jinping on Sunday departed for a visit to four South American countries, including Brazil, to build ties in a resource-rich region traditionally considered the backyard of the United States. Xi left Beijing on Sunday morning,...

Pacific trade talks agree broadly on labour, health issues

2014-07-14 PACIFIC trade talks have reached broad agreement on labour issues and sanitary and phytosanitary standards but some difficult aspects remain to be tackled, Japan’s chief negotiator said on Saturday.U.S. President Barack Obama said last month he...

Saturday, 12 July 2014

Thailand stops natural gas imports

2014-07-12 THAILAND is cutting natural gas imports after consumption growth in Asia’s fourth-largest user of the fuel has sagged to two-decade lows, threatening to idle costly fuel import facilities and force suppliers to turn to rival buyers such as China....

Friday, 11 July 2014

CIMB eyeing merger to create M’sia’s biggest bank

2014-07-11 MALAYSIA’S CIMB Group Holdings Bhd is seeking to acquire two lenders to create the country’s biggest bank in a move that is likely to push larger rival Maybank and others in the region to bulk up too. CIMB, the nation’s second-largest bank, is...

Honda recalls 175,000 hybrids in Japan

2014-07-11 HONDA Motor Co is recalling 175,356 gas-electric hybrid vehicles in Japan including the Fit subcompact over a software glitch in the engine control unit, the car maker said on Thursday.Honda is recalling all of the third-generation Fit hybrid as...

Thursday, 10 July 2014

China’s Fin Min defends country’s FX intervention

2014-07-10 CHINA’S finance minister yesterday defended the country’s currency interventions, saying it was difficult to take a hands-off approach when it came to the yuan, given an unsteady economy and abnormal capital inflows.Speaking on the first day of...

Japan’s shipping giant to set Arctic route

2014-07-10 JAPAN’S Mitsui OSK Lines yesterday announced plans for the world’s first regular commercial shipping route through the Arctic Ocean, starting in 2018, in an attempt to reduce sailing times.The firm said it would initially start moving liquefied...

India’s 2014/15 GDP growth expected to rise 5.9 per cent

2014-07-10 INDIA’S economy is expected to grow by up to 5.9 per cent in the current fiscal year, the new government of Prime Minister Narendra Modi (pictured) said in a major economic report yesterday that called for fiscal consolidation to bring down...

Beijing court rules against Apple in Siri patent case

2014-07-10 A BEIJING court has ruled against Apple Inc by upholding the validity of a patent held by a Chinese company, clearing the way for the Chinese company to continue its own case against Apple for infringing intellectual property rights. Apple had...

Tesla slams China trademark action

2014-07-10 ELECTRIC carmaker Tesla yesterday denounced a Chinese businessman’s lawsuit seeking millions of dollars for alleged trademark infringement as an attempt to “steal” its property and “without any conceivable merit.”Zhan Baosheng, said to be the...

Shrimp producers in Mindanao form group

2014-07-10 MICRO, small and medium enterprises (MSMEs) engaged in shrimp farming in General Santos City (Gensan) and in nearby Sarangani province have formed an association to boost production and set the direction for the industry.Gensan City Councilor Brix...

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