Business » Asia

Tuesday, 17 August 2010

Muwa'adah valid for forward forex contracts

2010-08-17 MUWA'ADAH is a permissible basis for forward currency transactions, a respected Syariah adviser said yesterday, challenging a widely held view which has limited the range of Islamic hedging tools.The use of muwa'adah or mutual promise in forward...

Oil above US$75 in Asian trade

2010-08-17 OIL prices were higher in Asian trade yesterday but concerns over the US and Chinese economies weighed on the market, analysts said.New York's main contract, light sweet crude for delivery in September, added 47 cents to US$75.86 a barrel.Brent...

India's 'lender to the poor' SKS shares soar in debut trade

2010-08-17 INDIA'S largest lender to the poor soared in its debut on the Mumbai stock exchange Monday after it raised US$353 million from its initial stock offer.Shares of Hyderabad-based SKS Microfinance jumped 17.7 per cent to 1,159.9 rupees (US$25) within...

China group to make AIA bid

2010-08-17 A CONSORTIUM of leading Chinese companies including Industrial and Commercial Bank of China Ltd, China Life Insurance Co Ltd, plans to bid for a 30 per cent stake in American Insurance Group Ltd's Asian life insurance business, AIA, the 21st Century...

Italian-Thai group likely to win Thai rail contract

2010-08-17 ITALIAN-THAI Development Pcl will likely win a contract to build part of Bangkok's "blue line" mass transit project after edging out rival Ch Karnchang Pcl, a transit official said yesterday.Although Ch Karnchang Pcl, Thailand's second-...

CDL Hospitality eyes up to S$550m in acquisitions

2010-08-17 SINGAPORE hotel owner CDL Hospitality Trusts is on the lookout for acquisitions in Vietnam, India and Japan with a potential war chest of about S$550 million (US$403.8 million), its chief executive said yesterday. The trust, which owns five hotels...

IN BRIEF

2010-08-17 Japan eyes fresh economic measuresTOKYO: Japan's government is considering measures to address its slowing economy and strengthening yen, news reports said yesterday, after Tokyo reported a weaker-than-expected growth in its GDP. The measures are...

M'sia Airlines posts Q2 loss

2010-08-17 NATIONAL carrier Malaysia Airlines (MAS) said yesterday it sank into the red in the second quarter, due to losses on fuel hedging and higher fuel prices.The airline said it made a loss of RM535 million (US$168.29 million) compared to a net profit of...

Monday, 16 August 2010

Two Koreas' unity tax mooted

2010-08-16 SOUTH Korean President Lee Myung-bak yesterday proposed a "reunification tax" to help fund the expected US$1 trillion bill when the two Koreas eventually rejoin, but maintained his tough stance against the North.There are no signs that...

Volkswagen, Malaysia's DRB-Hicom ink deal

2010-08-16 EUROPE'S biggest automaker Volkswagen is to join forces with DRB-Hicom, one of Malaysia's largest car distributors and importers, to assemble and manufacture cars in the country, a report said yesterday.Volkswagen inked an agreement Friday with DRB-...

Economists forecast Japan slowdown

2010-08-16 JAPANESE data released today is expected to show the country's economy expanding at its slowest rate in three quarters, as an export-driven recovery falters amid growing fears for the global economy. A median forecast of economists polled by Dow...

China's steel group defends US$175m investment in Mississippi rebar plant

2010-08-16 A PLANNED investment in the United States by China's Anshan Iron & Steel Group, which has concerned some US politicians, will create jobs and be good for the economy, the company's president was quoted as saying.Zhang Xiaogang told the magazine...

China's investors seek real estate deals on Korean isle

2010-08-16 THE southern island of Jeju is attracting rich Chinese seeking high returns and close, cheap and charming vacation spots.With beautiful scenery, a mild climate and plentiful resort resources, the island is one of Korea's most famous tourist...

IN BRIEF

2010-08-16 Poverty in Taiwan at record high TAIPEI: The number of Taiwanese households living in poverty rose to a record high of 108,000 in the three months to June despite the continued growth of the economy, the Commercial Times reported yesterday. In...

China-funded Sri Lankan port reflects 'non-partisan policy'

2010-08-16 A CHINA-FUNDED port in Sri Lanka will be a symbol of Colombo's non-partisan foreign policy, the president said yesterday amid Indian concerns over Beijing's interests in the region.President Mahinda Rajapakse marked a key milestone in the...

Sunday, 15 August 2010

Japan's PM to closely monitor rise of yen

2010-08-15 JAPAN Prime Minister Naoto Kan said yesterday he would monitor closely the strength of the yen and hinted at holding talks with the central bank chief amid the recent rise of the unit, Jiji Press reported."I want to continue to closely watch...

Saturday, 14 August 2010

IN BRIEF

2010-08-14 Chinese investors' bid for AIA sharesSHANGHAI: China Life and two other Chinese investors have withdrawn from bidding for stakes in American International Group's Asian unit ahead of its planned initial public offering, state media said yesterday...

Indonesia energy deals simmer

2010-08-14 MAJOR energy deals are on the boil in resource-rich Indonesia, regional dealmakers and analysts say, as Western energy giants seek to raise money for near-term projects and to pay down debt.US oil giant Chevron Corp has put portions of its stakes in...

India to target Google, Skype next, says FT

2010-08-14 INDIA may shut down Google and Skype Internet-based messaging services over security concerns, the Financial Times reported yesterday, as the government threatened a similar crackdown on BlackBerry services.The Financial Times quoted from the...

M'sia cenbank nixes state's issuance of Islamic currency

2010-08-14 A MALAYSIAN state's attempt to revive use of gold and silver coins common in early Islamic societies has run afoul of the country's central bank, which said yesterday that local governments have no authority to issue their own currency.The gold...

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