Monday, 22 August 2011

Biden tells China: US will never default on debt

2011-08-22 US VICE President Joe Biden yesterday said that the world's biggest economy would never default on its debts, during a visit aimed at boosting Chinese confidence in America's beleaguered finances.In a speech to hundreds of university students in...

China to invest US$6b in Guinea bauxite

2011-08-22 CHINESE state-owned energy giant China Power Investment Corporation plans to invest US$6 billion to develop bauxite production in Guinea, a senior executive said here Saturday.China Power Investment "intends to invest more than US$6 billion in...

Bank of Japan may ease policy anew

2011-08-22 THE Bank of Japan (BOJ) will consider easing monetary policy further, possibly at an emergency meeting before next month's rate review, if further rises in the yen push down Tokyo stock prices enough to hit business sentiment, sources said.!The...

Malaysia's Bumiputera economy to get boost

2011-08-22 THE functions of think tank Gagasan Badan Ekonomi Melayu (Gabem) as the driver and monitor of Bumiputera economic performance is to be continued and further enforced this was among the 25 resolutions taken at the the New Economic Model (NEM):...

Hackers attack Epson Korea

2011-08-22 EPSON Korea Co Ltd said on Saturday hackers had breached the personal data of its 350,000 registered customers last week, the latest in a series of cyber attacks involving a huge number of victims in the country.!An official at the South Korean...

Sunday, 21 August 2011

M'sia can weather global slowdown

2011-08-21 DESPITE the global economic uncertainties, the Malaysian government is confident that the country has enough domestic strength to overcome the impact, said Minister in the Prime Minister's Department Nor Mohamed Yakcop (pic).Nor Mohamed, who heads...

Saturday, 20 August 2011

Malaysia to list 1,100 Bumis

2011-08-20 MALAYSIAN Prime Minister Najib Razak yesterday said the government is helping 1,100 eligible Bumiputera companies tap the stock market.The government will announce the list being crafted by Unit Peneraju Agenda Bumiputera (TERAJU) in two to...

China urged to fund Asean infra projects

2011-08-20 CHINA has been urged to finance more infrastructure projects in Association of Southeast Asian Nations (Asean) to help achieve the master plan on Asean connectivity.Dr Michael Yeoh, chief executive officer of Asian Strategy and Leadership Institute...

Friday, 19 August 2011

MAS turnaround story was 'real'

2011-08-19 IN THE wake of the MAS-AirAsia share swap story that swept Malaysians into a multi-dimensional arguments and views by the politicians and uninformed public, one of the sub-topics that created doubts amongst Malaysians was the previous turnaround...

MAS-AirAsia deal does not bode well for S'wak

2011-08-19 THE recent collaboration agreement between Malaysian Airlines (MAS) and AirAsia has created uncertainty among tourism players in Sarawak.Following this, the Sarawak Tourism Board (STB) plans to discuss issues regarding its effects with the two...

IN BRIEF

2011-08-19 Coca-Cola to invest US$4b more in ChinaBEIJING/SHANGHAI: Coca-Cola, the world's largest soft drinks producer yesterday said it will invest US$4 billion more in China over the next three years starting from 2012. By the end of 2011, Coca-Cola and its...

Asian FX integration long way off: ADB chief

2011-08-19 ASIAN Development Bank president Haruhiko Kuroda yesterday said any Asian currency integration is a long way off and cast doubt on the Chinese yuan emerging as a regional unit.The idea of a single currency for Asia and of integrating the region's...

India, China to lead global gold demand

2011-08-19 GOLD, at record-breaking levels as global economic worries mount, will see sustained demand from key markets India and China this year despite high prices, the World Gold Council said yesterday.Global demand for the second quarter to June was 919.8...

Improve transport networks, Asean urged

2011-08-19 THE members of the Association of Southeast Asian Nations (Asean) are urged to improve the transportation networks to expand Pan-Beibu Gulf Economic Cooperation (PBGEC).Governor of the Guangxi Zhuang Autonomous Region, Ma Biao, said the...

Temasek unit selling 8% in Thai Shin

2011-08-19 AN AFFILIATE of Singapore state investor Temasek is selling almost eight per cent in Thai telecoms firm Shin Corp for US$306 million, which will bring the free float of the company closer to the level required by Thai rules.!Shin Corp, once...

Thursday, 18 August 2011

South Korea strikes US$84b LNG deals with Shell, Total

2011-08-18 SOUTH KOREA announced long-term agreements yesterday worth US$84 billion with energy giants Royal Dutch Shell and Total to buy gas from LNG projects in Australia. !Asia's largest economies are competing for Australia's rapidly growing...

Airlines eye Japan's low-cost boom

2011-08-18 DESPITE high landing fees and fuel taxes, Japan has seen a rush by domestic airlines and their overseas partners to set up low-cost carriers in anticipation of booming demand for air travel in Asia.In less than a year, three new so-called LCCs have...

Qantas chief defends Asia plans

2011-08-18 QANTAS chief Alan Joyce vigorously defended the company's Asia-focused restructuring plans yesterday, saying they were vital to keeping the carrier relevant as a dispute with unions heated up.The airline has faced a firestorm of criticism over the...

Oil hits top Philippine carrier's interim profit

2011-08-18 TOP Philippine carrier Cebu Pacific saw its first half net profit plunge 22.9 per cent, due mainly to a huge spike in the price of aviation fuel, the airline said.Net income after taxes dropped to 2.44 billion pesos (US$57.47 million) in the six...

San Miguel bids for 65% of Esso

2011-08-18 PHILIPPINE conglomerate San Miguel has offered to buy ExxonMobil's 65 per cent stake in Malaysian oil refiner Esso for 614.3 million ringgit (US$206 million), Esso said yesterday.! The Philippine company, which is aggressively expanding into...