Business » Asia

Saturday, 25 September 2010

Crude prices fall in Asian trade

2010-09-25 CRUDE prices tumbled below US$75 in Asian trade yesterday on worries over weak energy demand due to the faltering US economic recovery, analysts said. New York's main contract, light sweet crude for delivery in November, slid 30 cents to US$74.88 a...

Friday, 24 September 2010

India property IPOS in slump

2010-09-24 HIGH prices and rising mortgage rates are hurting demand in India's once-booming housing market, jeopardising a pipeline of about US$6.0 billion ($8 billion) in initial public offerings (IPOs) from Indian property companies. The real estate firms...

IN BRIEF

2010-09-24 India's ONGC rules out counterbid for Cairn MUMBAI: India's state-run Oil and Natural Gas Corp ruled out making a bid for the local arm of Britain's Cairn Energy on Thursday to counter a rival offer by mining group Vedanta. "The counter offer...

Russian discounts, political stability

2010-09-24 IF POLITICAL risks alone explain investor wariness of Russia, the discount on the country's equities may now be excessive.Russia has leapt off investment research pages this year on one glaring statistic — its main equity indices are trading...

South Thailand: a hub for Malaysian investors

2010-09-24 MALAYSIAN entrepreneurs, especially in the halal industry, should consider investing in southern Thailand if they are looking at higher production, says IMT-GT Joint Business Council Malaysia Chairman, Datuk Faudzi Naim Noh. He said players in the...

Thursday, 23 September 2010

China pours cash into Latin America

2010-09-23 CHINA is pouring cash into Latin America, investing in everything from agriculture to railways while satisfying its need for oil and other raw materials to fuel its booming economy.Beijing has organised an increasing number of trade missions to the...

'A crisis in China would threaten global economy'

2010-09-23 THE head of DWS, the biggest German investment fund, feels a Chinese crisis is the biggest threat to the global economy at present, he said in an interview to be published on Friday."The biggest risk to global financial markets is an economic...

'Asian corporate governance lagging'

2010-09-23 THE way that companies in Asia govern themselves is lagging well behind international standards, while regulators are not doing enough to force the issue, said a report released yesterday. Even the region's top-performing markets "remain far...

IN BRIEF

2010-09-23 AIG nears sale of two Japanese unitsTOKYO: Troubled US insurer American International Group is close to selling two Japanese life insurance units to Prudential Financial Inc. in a five billion dollar deal, a report said yesterday. US-based...

AIG wins approval for Asian unit IPO

2010-09-23 TROUBLED US insurer AIG has won approval for a Hong Kong share sale of its Asian unit, AIA, worth up to 15 billion US dollars, in what could be the world's second-biggest stock offering this year.Hong Kong's stock exchange gave the offering a green...

Enforce banking rules rigorously: Basel chief

2010-09-23 PROPOSED new global banking rules designed to prevent future financial crises must be enforced rigorously, the head of the group that drew them up said yesterday.Nout Wellink, chairman of the Basel Committee on Banking Supervision, told an...

'Ringgit should be internationalised'

2010-09-23 THE ringgit should be internationalised and the economy liberalised as these measures will facilitate trade and greater participation of local and foreign investors.In making the call, Malaysian Investors' Association (MIA) president Datuk Dr PHS...

Shanghai port is now world's largest

2010-09-23 ACHIEVING 19.06 million TEUs throughput in the first eight months of 2010, has put the Port of Shanghai ahead of Singapore Port and as the world's largest container port currently.Recent statistics from the Singapore Marine and Ports Authourity (MPA...

Wednesday, 22 September 2010

Sime Darby to take legal action over huge overruns

2010-09-22 MALAYSIAN conglomerate Sime Darby, which announced massive cost overruns this year, said it has unearthed evidence of wrongdoing in four energy projects and vowed to launch legal action.It flagged the problems in May when it asked group CEO Ahmad...

AIG mulling options for Taiwan unit after aborted deal

2010-09-22 US INSURANCE giant American International Group said yesterday it was considering other options after collapse of the sale of its Taiwan unit to a Hong Kong consortium.Hong Kong-listed China Strategic Holdings on Monday formally called off its high-...

SAIC watching GM's IPO with interest

2010-09-22 CHINA'S largest automaker, SAIC, is considering buying a stake in General Motors when it reverts to a public company in the coming months, the Wall Street Journal reported on Monday on its website.SAIC, which has built vehicles with GM in China...

China pact lures foreign investors to Taiwan

2010-09-22 SOME of the world's biggest firms were among almost 30 foreign groups vowing major investments in Taiwan amid growing interest in the island since it signed a trade pact with China, officials said.Qualcomm and GlaxoSmithKline joined 25 other firms...

IN BRIEF

2010-09-22 Toyota's financing unit in China finedBEIJING: Chinese authorities have fined Japanese automaker Toyota's financing unit for commercial bribery after it paid dealers for directing loan business its way, state media reported yesterday. Toyota Motor...

Plan to trade Ringgit offshore still under study: Najib

2010-09-22 PLANS to trade the ringgit offshore are still under study, said Prime Minister Datuk Seri Najib Tun Razak.However, there was no specific timeframe (to decide on the matter), he said."We have liberalised the ringgit for trading-related...

AirAsia X to launch Japan route in Dec

2010-09-22 MALAYSIAN long-haul budget airline AirAsia X said yesterday it would enter the Japanese market in December by launching regular flights between Kuala Lumpur and Tokyo.The carrier will introduce three flights a week connecting the Malaysian capital...

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