Business » Asia

Tuesday, 19 April 2016

Ant Financial may list this year, valued at US$60b

2016-04-19 CHINA’s top internet finance company, e-commerce giant Alibaba’s affiliate Ant Financial, could start the process of going public this year, reports said Monday, with the firm’s latest fundraising valuing it at US$60 billion. Ant Financial...

Quakes hurt Japanese stocks

2016-04-19 JAPANESE stocks tumbled on Monday after a stronger yen hurt the outlook for corporate profits, while risk appetite was hurt by the earthquakes on the southern island of Kyushu. The Nikkei share average slid 3.4 per cent to 16,275.95 for its...

Vietnam’s Viettel plans US$1.5b Myanmar telco investment

2016-04-19 VIETNAMESE telecom company Viettel said it plans to form a consortium with two Myanmar companies to invest a combined US$1.5 billion in Myanmar’s telecoms sector if it wins the country’s fourth, and last, telecom licence. Viettel is expected to be...

Singapore exports fall most in 3 years in March

2016-04-19 SINGAPORE exports tumbled at their fastest pace in three years in March on falling shipments to Europe and China, official data showed yesterday, supporting forecasts for slower economic growth and further monetary easing this year. Non-oil...

China posts slowest quarterly growth on record

2016-04-19 CHINA’S economy grew in the first three months of 2016 at its slowest quarter-on-quarter rate since it began releasing the data, the government said, while the real-estate sector rebounded thanks to aggressive stimulus. The world’s second-largest...

Monday, 18 April 2016

Ant Financial may list this year, valued at US$60b

2016-04-18 CHINA’s top internet finance company, e-commerce giant Alibaba’s affiliate Ant Financial, could start the process of going public this year, reports said Monday, with the firm’s latest fundraising valuing it at US$60 billion. Ant Financial Services...

Oil workers strike slashes output

2016-04-18 THOUSANDS of Kuwait’s oil workers began an open-ended strike yesterday in protest at plans to cut their wages, action which saw the emirate’s crude production plunge.A spokesman for the Kuwait Oil Co (KOC), Saad al-Azemi, said on Twitter that “...

Japan auto, electronic plants face disruption due to quake damage

2016-04-18 TOYOTA Motor Corp said yesterday it would suspend production at plants across Japan after earthquakes in the country’s south disrupted the automaker’s supply chain, while other manufacturers extended stoppages due to damaged factories.Japanese...

Asia moves toward a cashless society

2016-04-18 WITHIN two weeks of its launch last month, TPay, a new hands-free payment system in South Korea, attracted 100,000 subscribers. The launch marks South Korea’s latest step towards all but eliminating paper cash, something it wants to do by the end...

Saturday, 16 April 2016

Japan plants shut down after quake

2016-04-16 SOME of Japan’s biggest firms including Sony and Toyota shut down operations in southern Japan yesterday after the region’s deadly earthquake, but analysts said while the economy could be affected the impact would be far less than previous...

China GDP slows to 6.7%

2016-04-16 CHINA posted its slowest economic growth since 2009 but a surge of new debt appears to be fueling a recovery in factory activity, investment and household spending in the world’s second largest economy.That’s good news in the near-term, economists...

Friday, 15 April 2016

TSMC cuts global smartphone outlook

2016-04-15 TAIWAN Semiconductor Manufacturing Co, the world’s largest contract chipmaker, trimmed its outlook for the global smartphone market as consumers increasingly demand lower-priced handsets that still boast advanced technology. The Apple Inc supplier...

Singapore dollar slips as MAS eases monetary policy

2016-04-15 SINGAPORE’s central bank unexpectedly eased policy on Thursday after growth stalled in the first quarter, darkening the outlook for the trade-dependent economy and triggering the worst fall in the local dollar in eight months. The move comes as...

Thursday, 14 April 2016

Chinese exports rise in March

2016-04-14 CHINESE exports surged in March, the first gain in nine months and the latest positive data out of the world’s number two economy, but analysts warned Wednesday’s headline figure masked ongoing weakness in overseas demand. Official figures showing...

Uber starts motorbike taxi service in Indonesian capital

2016-04-14 RIDE-HAILING app Uber on Wednesday launched a motorbike taxi service in the Indonesian capital where Southeast Asian rivals Go-Jek and Grab are already battling for dominance. Jakarta is one of the world’s most congested cities and motorbike taxis...

JPMorgan cuts 5% of Asia wealth management jobs

2016-04-14 JPMORGAN Chase & Co has cut 30 jobs, or five per cent of its headcount, at its Asia wealth management business, a source with direct knowledge of the matter said, as the US bank sharpens its focus on tapping wealthier clients. The job cuts...

Wednesday, 13 April 2016

Drought may hit rice stocks at exporters

2016-04-13 CRIPPLING drought brought on by the El Nino weather pattern could cut rice stocks among the world’s top exporters to levels not seen since 2008, potentially fueling a price crisis similar to one seen that year, an industry expert warned. Total...

Colourful ‘vomit-like’ Australian $5 note unveiled

2016-04-13 IT MAY be the smallest-denominated Australian dollar banknote, but a new design for the A$5 bill attracted an outsized amount of criticism when it was unveiled on Tuesday, with detractors calling it “hideous” and “like vomit.” The note, which will...

China car sales to grow 5 % in Q2

2016-04-13 VEHICLE sales in China are expected to grow five per cent in the second quarter of 2016, China’s automakers association said on Tuesday, slowing slightly from the first three months of the year. The world’s largest auto market grew six per cent in...

Steel needs cooperation, China responds to Britain

2016-04-13 CHINA wants to work with the rest of the world to find a resolution to overcapacity in the steel sector, its foreign ministry said on Monday, after Britain asked the world’s top producer of the alloy to tackle the problem quickly. Britain’s...

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