Business » Asia
Sunday, 22 November 2009
INDIA has scrapped tenders to import rice, saying it has enough stocks to manage despite a harvest shortfall following the worst monsoon in almost four decades.A top-level cabinet committee on food cancelled the three tenders totalling 30,000 tonnes...
br />AirAsia sells 28,000 seats for Kolkata routeKUALA LUMPUR: AirAsia, Asia's largest low-cost carrier, has, to date, sold 28,000 seats for the Kuala Lumpur and Kolkata route. Open for sale on Oct 15, the airline said the new route would unlock...
THE chief executive of Delta Air Lines Inc says the SkyTeam alliance of global carriers would be willing to invest more than its proposed US$1.02 billion in Japan Airlines, the Wall Street Journal reported.The final proposed investment into JAL by...
Saturday, 21 November 2009
ASIA-PACIFIC is tipped to become the world's biggest aircraft market in the next 20 years, with regional airlines buying almost 9,000 planes worth US$1.1 trillion, a Boeing official yesterday said.The scramble for new planes will be fuelled by a...
MALAYSIA'S economy contracted by 1.2 per cent in the third quarter from a year ago, as domestic demand boomed, signalling the last quarter of the trade-dependent Southeast Asian country's recession.The better-than-expected economic data came after...
StanChart eyes Asia renewable deals SINGAPORE: Standard Chartered Plc said it planned to invest in several renewable energy projects in Asia worth over US$800 million. "We provide debt, advisory and equity across the sector," Brad Sterley...
THE Bank of Japan yesterday upgraded its economic assessment, setting itself up for a confrontation with a government pressing for a policy response to deflation and a possible return to recession.The Japanese government published a report that...
ASIA'S airline industry is pulling out of a slump sparked by the global recession with signs passenger numbers are rising, a regional body said yesterday, but there were warnings a rebound will be slow."Hopefully, we are at least through the...
SOUTHEAST Asia's largest budget carrier AirAsia Bhd yesterday flagged a further recovery in air travel demand after reporting a profit in the third quarter, helped by higher sales of non-ticket items.Airlines globally have struggled in the past year...
Friday, 20 November 2009
SINGAPORE yesterday declared a severe recession over after two straight quarters of growth and predicted the economy would expand by up to five per cent in 2010.Data from the Ministry of Trade and Industry showed gross domestic product (GDP) rose...
MALAYSIA'S top mobile operator, Maxis, made a strong return to the bourse yesterday in Southeast Asia's biggest ever IPO worth US$3.3 billion.Maxis Berhad, controlled by reclusive Malaysian tycoon Ananda Krishnan and Saudi Telecom, opened on Bursa...
THE syariah financing structure of tawarruq munazzam should be avoided as it is divorced from economic realities, industry figures said, backing a shock ruling that could overhaul Islamic banking contracts.Tawarruq is widely used to grant financing...
EU to urge China for more flexible FX policyBRUSSELS: Top eurozone officials will urge China this month to move towards a more flexible exchange rate policy but it will not be easy to introduce change soon, EU Monetary Affairs Commissioner Joaquin...
ASIAN banks are worried they will be forced to adopt new, tougher capital rules that are being designed primarily for Western lenders and might be inappropriate for them, the head of a group representing global financial institutions yesterday said....
MURABAHA differs from interest-based lending as it is based on economic activity, an influential syariah scholar yesterday said, countering criticism that syariah banking is a copy of conventional finance.Murabaha, or cost-plus financing, is widely...
Thursday, 19 November 2009
MALAYSIA said yesterday that Washington had indicated it will abandon a bilateral free-trade deal under negotiation since 2006, and will instead work towards a regional trade pact."It was made very clear to us that bilateral FTAs are not a...
INDONESIA'S state oil and gas firm, PT Pertamina, said yesterday it was considering issuing US$1 billion in bonds on the international market as part of its plan to fund US$4.2 billion capital expenditure next year.It planned to boost its capacity...
Thai economy may grow 5% in 2010BANGKOK: Thailand's economy could grow as much as five per cent next year if there is political stability, the country's deputy prime minister in charge of the economy said yesterday, though he called the baht's rise...
CHINA'S decision on whether to resume appreciation of the yuan is complicated as it will be made by the State Council, Dr Fan Gang, a member of the People's Bank of China's monetary policy committee, told Reuters yesterday.While the yuan non-...
CHINA wants expanded access to North Korean ports to help an economic revitalisation scheme for a landlocked and struggling northeastern province, and may pay to improve its poor communist neighbour's infrastructure.Han Changfu, the governor of...
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