Business » Asia

Thursday, 7 October 2010

Rio Tinto mulls scrapping BHP iron JV

2010-10-07 GLOBAL miner Rio Tinto looked set to abandon its US$116 billion ($156 billion) iron-ore joint venture with rival BHP Billiton (BHP), a deal unpopular with customers, regulators and many of Rio Tinto's own investors.An Australian newspaper, quoting...

Wednesday, 6 October 2010

Japan demands China resume rare earth shipments

2010-10-06 JAPAN will press China to stop holding up shipments of rare earth minerals and other commodities, the trade minister said Tuesday, despite signs of a diplomatic spat easing between the Asian rivals.Japan's Economy, Trade and Industry Ministry last...

Sarkozy bets on China in G20 forex

2010-10-06 FRENCH President Nicolas Sarkozy is gambling on drawing China into a multilateral dialogue on currency stability as the centrepiece of his forthcoming presidency of the G20 economic leadership forum.Whether Beijing will agree is unclear. Western...

US urges China and EU to form alliance on IP rights

2010-10-06 THE United States urged European states on Monday to join forces with Washington in pressuring China to change its policies on intellectual property rights and foreign investment.Chinese Prime Minister Wen Jiabao is in Europe for an EU-China summit...

Navis marks SEA for private equity growth

2010-10-06 SOUTHEAST Asian consumer retail and packaging firms offer the best growth potential for private equity investors, Navis Capital said after it raised US$1.2 billion for Asian acquisitions. Investments which have poured into Asia have yet to fully...

EU rebuffs Asian currencies

2010-10-06 ADDING to the tension of the global curreny crisis, policymakers from emerging Asian economies voiced growing concerns about the risk of a flood of hot money inflows. South Korea warned investors it might impose further limits on forward trading and...

Bank of Japan fixed at zero interest

2010-10-06 THE Bank of Japan on Tuesday surprised markets in adopting a zero rate policy and announced further easing measures to help safeguard a fragile recovery from the threats of deflation and a strong yen. The central bank lowered its key rate to a range...

EU, Vietnam discuss new free trade pact

2010-10-06 THE European Union and Vietnam will start negotiations on a free trade pact soon, EU and Vietnamese leaders said, fuelling Vietnamese hopes of being recognised by the EU as a free market economy. Vietnamese Prime Minister Nguyen Tan Dung said free...

India's declining foreign investment

2010-10-06 FOREIGN direct investment in India fell by nearly a quarter in the first seven months of 2010 and the much-publicised chaos around preparations for the Commonwealth Games has added to worries foreign firms could put off further investment. A UN...

IN BRIEF

2010-10-06 S Korea spotted buying US dollars to cap wonSEOUL: South Korean foreign exchange authorities were spotted buying US dollars on Monday to check the won's rise, dealers said.Jeddah to get US$5.6 billion light rail systemJEDDAH: The traffic-congested...

Tuesday, 5 October 2010

Indonesia home to world's first pulpwood plantation carbon reserve

2010-10-05 INDONESIA will become home of the world's first privately funded project turning pulpwood plantation concessions into a carbon reserve. The Kampar Carbon Reserve, located in Riau Province in Sumatra, is being established on land previously approved...

M'sia mulls diesel subsidy cut to boost biofuel

2010-10-05 MALAYSIA said yesterday it would consider cutting a diesel subsidy next year in a bid to make its biofuel industry more attractive after production of the alternative fuel virtually ground to a halt.Malaysia has aims to become a global leader in...

AIG lowers AIA IPO to woo Kuwaitis

2010-10-05 US INSURER AIG has been forced to reduce its valuation for the Hong Kong initial public offering of its Asian unit AIA to win the commitment of Kuwait's sovereign wealth fund, a report said yesterday.AIG had to drop its initial plan to sell shares...

Petronas to focus on domestic ops, plays down divestments

2010-10-05 MALAYSIA'S state oil firm Petronas said it will focus more on domestic operations but played down plans to further divest assets overseas.Petronas officials yesterday said the company would spend US$2 billion to develop 50-60 wells, with investment...

'Pan-Borneo Highway upgrade to be carried out in stages'

2010-10-05 UPGRADING of the Pan-Borneo Highway which connects Sarawak with Sabah and Brunei, would be carried out in stages, said Works Minister Datuk Shaziman Abu Mansor. He said the project would involve upgrading of several stretches of the 1,600 highway...

IN BRIEF

2010-10-05 Tiger cancels 40 flights in 4 days, shares fallSINGAPORE: Shares of Tiger Airways fell as much as 3.9 per cent in early trade yesterday after a local newspaper reported that the firm had cancelled about 40 flights over a four-day period. Tiger...

Najib hopes summit will refocus Europe's attention on Asia

2010-10-05 PRIME Minister Datuk Seri Najib Tun Razak has expressed hope that the two-day Eighth Asia-Europe Meeting (Asem) Summit starting here yesterday will "refocus Europe's attention on Asia".He said Asia and Asean are where growth would probably...

Monday, 4 October 2010

China premier criticises US Congress

2010-10-04 CHINESE Premier Wen Jiabao criticised members of the US Congress in an interview set to air yesterday for "politicising" the US trade imbalance with China because they do not know China well.Wen, in an interview with US TV news network CNN...

Australia warns China, EU against protectionism

2010-10-04 AUSTRALIA'S trade minister joined US calls for China to adjust its currency yesterday and warned Europe that Canberra would not allow a revival of protectionism masquerading as environmentalism.The newly-appointed Craig Emerson said he was confident...

M'sia PM to launch FTA talks with EU

2010-10-04 MALAYSIA'S Prime Minister Datuk Seri Najib Tun Razak is scheduled to launch the Europe-Malaysia Free Trade Agreement negotiations on the sidelines of the Asia-Europe Meeting (Asem) next week in Brussels."We hope to officially launch the...

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