Business » Asia

Thursday, 8 July 2010

Asia next in line of fire for US tax police

2010-07-08 AFTER forcing Switzerland's top bank UBS to its knees for helping US residents dodge taxes, US authorities are moving on other banks and countries used to hide clients' cash.Washington inflicted a tough lesson last year on Switzerland by forcing the...

Names won't hurt me

2010-07-08 AnalysisThe Obama administration likely won't risk a diplomatic spat with China by calling it a "currency manipulator" in an overdue Treasury report, leaving it to Congress to decide whether to get tough with Beijing.Analysts say politics, and a...

BHP-Rio JV plan gets extension

2010-07-08 AUSTRALIA'S competition regulator said yesterday it had suspended its review of a proposed iron ore tie-up between Rio Tinto and BHP Billiton to allow the miners to make additional submissions.The Australian Competition and Consumer Commission was...

Asia needs trade integration as world economy slows

2010-07-08 ASIA needs trade integration to help it ride out an expected slowdown in global economic growth due to European and US debt woes, Ganeshan Wignaraja, principal economist at the Asian Development Bank, said on Tuesday.Rather than putting up...

IN BRIEF

2010-07-08 S Korea to normalise economic policySEOUL: South Korea's finance minister yesterday reaffirmed the government's intention to gradually return economic policy to pre-crisis settings despite uncertainty over the global economy. The remark came as...

Wednesday, 7 July 2010

US lawmakers 'oversensitive'

2010-07-07 CHINA'S official Xinhua news agency yesterday criticised a group of 50 US lawmakers for calling for a probe into Chinese investment in the US steel sector, saying protectionism was rearing its ugly head again. The bipartisan group of US...

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2010-07-07 China signals OK for Taiwan FTAs TAIPEI: China has signalled that it will let Taiwan sign free trade agreements with major trading partners via the World Trade Organisation, removing an obstacle to a plank in the US$390 billion island economy's...

Toyota recalls Lexus in Japan

2010-07-07 Toyota yesterday started the recall of almost 92,000 luxury cars in its home country. The world's largest carmaker eventually expects to recall 270,000 Lexus and Crown vehicles worldwide in order to fix an engine problem that can cause them to...

S Korea launches loan scheme for N Korean refugees

2010-07-07 SOUTH KOREA will launch a microfinance scheme on Tuesday to provide North Korean refugees with low-interest business loans, officials said. The Unification Ministry, which is in charge of cross-border relations, said the programme would help North...

Malaysia goes green in 2011 budget

2010-07-07 GREEN technology will be one of the key areas to be given priority in the 2011 Budget, says Malaysia's prime minister Datuk Seri Najib Tun Razak. "We need to go green. We have to provide enough incentives for private and public sectors to...

'Time is right' for rates hike in S Korea

2010-07-07 THE International Monetary Fund said yesterday the time is right for South Korea to start raising interest rates as it sharply raised the country's economic growth forecast for this year. The IMF upgraded its growth forecast for Asia's...

Shift to resources, changing leadership

2010-07-07 Temasek Holdings Singapore wealth fund Temasek Holdings is expected to show the extent of its portfolio shift towards the resources sector and may provide clues about leadership changes when unveiling its annual report for 2009/10. The world's...

Wilmar eyes sugar sector in Indonesia, Brazil

2010-07-07 SINGAPORE'S Wilmar International, the world's largest listed palm oil firm, said yesterday it was keen to grow its sugar business by setting up operations in Indonesia and Brazil.Wilmar, which also deals in soybean, wheat and rice, identified sugar...

Tuesday, 6 July 2010

Nippon Steel taps Asian projects with new Vietnam plant

2010-07-06 NIPPON Steel Corp, the world's second-biggest steelmaker, said it would start producing steel pipes and steel sheet piles in Vietnam to tap burgeoning infrastructure projects in Asia and Oceania countries.Vietnam plans a large number of...

Fuel price strike rocks India

2010-07-06 A STRIKE called by opposition parties over fuel price rises disrupted life across India yesterday, shutting schools and businesses and causing transport mayhem in major cities.Flights were grounded in commercial airline hubs such as Mumbai and...

Carrefour to raise US$1b with Asian unit auction

2010-07-06 CARREFOUR has launched the sale of its units in Malaysia, Singapore and Thailand, sources with direct knowledge of the matter told Reuters yesterday, in a deal that could raise around US$1 billion for the French retailer.Carrefour is working with...

Maybank's Islamic HOT Broking service targets retail investors

2010-07-06 MALAYAN Banking Bhd (Maybank), via its investment banking arm Maybank Investment Bank, is eyeing a bigger share of the equities market with its new Islamic stockbroking service called HOT Broking.HOT (for "Honest, Open and Transparent")...

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2010-07-06 Bangladesh garment factories hit by strikesDHAKA: Protesting workers forced a dozen Bangladeshi garment factories near the capital Dhaka to shut yesterday in a repeat of major industrial unrest that hit the sector last month. A police official said...

Bankers confident of increased Asia acquisition deals

2010-07-06 A BURST of corporate acquisition activity in Asia shows that executives throughout the region are gaining confidence in their financial outlook and expansion strategy, with cross-border deals on the upswing.Asia Pacific M&A, excluding Japan,...

China's new migrant workers pushing the line

2010-07-06 "ALL they want to do is milk us of all our resources, earn money from our work and then leave nothing for us at all." Pictures and videos of striking workers at factories around China are uploaded within minutes, prompting executives to...

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