Business » Asia

Friday, 5 February 2010

BofA on major Asian hiring spree

2010-02-05 BANK of America (BofA) has embarked on a major hiring spree across Asia, aiming to expand in the fast growing region and revive the investment banking franchise that Merrill Lynch built before the financial crisis.The push is a surprise to rivals...

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2010-02-05 Sony outlook rosy post-restructuringTOKYO: Sony Corp's first profit in five quarters showed a restructuring at the electronics maker is starting to pay off as it halved its annual loss forecast on a rebound in its flat-TV business and cost cuts....

China dismisses US claim of 'competitive disadvantage'

2010-02-05 CHINA dismissed yesterday US threats it would get tough with Beijing on trade and currency to ensure American goods did not face a competitive disadvantage, saying its yuan currency was at a reasonable level.US President Barack Obama earlier said...

El Nino spell bad news for rice crops

2010-02-05 RICE crops in key producer nations will be damaged by a drier growing season in Southeast Asia this year due to the El Nino weather pattern and rubber cultivation expansion in some countries will be delayed, officials say. Thailand's Meteorological...

Mainland investments boost Hong Kong tycoons' wealth

2010-02-05 HONG KONG'S tycoons are worth a combined US$135 billion, with many of its wealthiest people boosting their fortunes from investments on the Chinese mainland, Forbes said yesterday. The top 40 richest people added US$53 billion to their combined...

Thursday, 4 February 2010

Toyota hit with Prius complaints

2010-02-04 TOYOTA Motor, reeling from a public-relations nightmare over accelerator problems, yesterday reported dozens of complaints in North America and Japan about brake failure on its top-selling Prius hybrid.Toyota is a pioneer in fuel-sipping hybrids and...

Serbia, China agree on US$1.25b financing for power plants

2010-02-04 SERBIA and China have agreed to financing terms for US$1.25 billion worth of projects to upgrade two power plants, make them environmentally friendly and boost coal output, the government said yesterday.Projects include the upgrade of two existing...

Oil at US$77; optimism boosts Asia markets

2010-02-04 OIL bounced back above US$77 yesterday, reaching its highest level in almost two weeks, as recovery optimism drove Asian stock markets higher, led by China.US crude for March delivery touched US$77.66 a barrel, the highest price since January 21,...

Asia to order 8,000 planes over 20 years

2010-02-04 ASIA-PACIFIC airlines are expected to purchase some 8,000 new passenger and cargo planes worth US$1.2 trillion from 2009 to 2028, Airbus officials said yesterday.The demand represents one third of predicted global deliveries during the period, and...

Indian mobiles fall silent over illegal tower dispute

2010-02-04 MOBILE phone companies in India reacted furiously yesterday after authorities shut down hundreds of allegedly illegal towers and left tens of thousands of users suffering cut-off calls and no reception.About 300 towers were closed across Noida, a...

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2010-02-04 Timah sees tin prices rising over 20%JAKARTA: Indonesia's PT Timah, the world's largest integrated tin miner, expects tin prices this year to climb by over 20 per cent to reach US$20,000 a tonne as demand recovers, its president director said...

Market strength tempts India back into M&A fray

2010-02-04 IN 2007, Indian firms made US$22.6 billion of overseas buys, not far behind China's haul. Outbound M&A (Mergers & Acquisitions) last year was just US$1.3 billion, while China spent US$42.7 billion.Now, India Inc is back on the overseas...

Wednesday, 3 February 2010

S Korea fund to buy stake in UK's Gatwick airport

2010-02-03 SOUTH KOREA's state pension fund, the world's fifth largest, said yesterday it would buy a 12 per cent stake in Britain's Gatwick airport - its second major investment in the country in three months."We have been looking into investment...

Chinese mills start iron ore talks with 'big three' miners

2010-02-03 CHINA'S leading steel mills have begun talks in Singapore with the big three global miners on 2010 contract iron ore prices, the China Times newspaper said in a report, but the Australian miners declined to comment.The paper said delegations from...

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2010-02-03 Bakrie US$524.3m rights issue approvedJAKARTA: Shareholders of Indonesian plantation firm PT Bakrie Sumatra Plantations have approved a 4.9 trillion rupiah (US$524.3 million) rights issue, a company director said yesterday. Director Ambono...

Toyota seeing sales hit from recall; costs unknown

2010-02-03 TOYOTA Motor's unprecedented recall of millions of vehicles with faulty accelerators is already taking a toll on its sales and may force it to cut 2010 sales forecasts.Toyota Motor's head of quality said he did not know how much it would cost to...

Lockheed Martin to roll out better bomb

2010-02-03 US DEFENCE giant Lockheed Martin said yesterday it will soon roll out a laser-guided bomb that can strike targets with more accuracy and less collateral damage.Joe Garland, vice president for international business development at Lockheed Martin,...

Oil up in Asian trade

2010-02-03 OIL prices rose in Asian trade yesterday as bullish US manufacturing data combined with gains in Asian equities markets to push the market up, analysts said.New York's main futures contract, light sweet crude for March delivery, broke past the US$75...

Tuesday, 2 February 2010

Toyota outlines repairs plan after massive recall

2010-02-02 TOYOTA'S US arm yesterday said it would start fixing a technical glitch in its cars this week after recalling millions of vehicles in a public-relations nightmare for the world's top carmaker.Toyota's US unit said the Japanese company had "...

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2010-02-02 Exports surge helps Indonesia surplusJAKARTA: A record surge in exports helped Indonesia's trade surplus jump to three billion dollars in December, well above market forecasts, the Central Statistics Agency said yesterday. The surplus rose from US$1...

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