Business » Asia

Monday, 26 July 2010

UBS on hiring spree

2010-07-26 SWISS bank UBS, the top wealth manager in Asia, plans to hire 2,200 new staff in the region, the head of UBS in Asia Pacific said in an Swiss magazine interview, a move that would return it to its pre-crisis splendour.Chi-Won Yoon, who became Chief...

Taiwan wins WTO LCD case against EU

2010-07-26 TAIWAN has won a World Trade Organisation (WTO) dispute against the European Union over LCD flat-screen panel tariffs, saving island exporters up to US$611 million a year, local officials and media said on Saturday.A WTO dispute settlement body...

Clinton adds to history of mango diplomacy

2010-07-26 WHEN US Secretary of State Hillary Rodham Clinton offered Pakistan help last week in exporting mangoes to the US in a bid to dampen anti-American sentiment, it marked the latest chapter in the fruit's curious history of diplomacy and intrigue....

Malaysia's car vendors back Proton-Perodua merger

2010-07-26 MERGING Proton and Perodua into a single entity will be a step forward to boost the Malaysian automotive industry, according to the Proton Vendors Association (PVA).Its president Datuk Dr Wan Mohamed Wan Embong said it would be timely for both...

IN BRIEF

2010-07-26 JAL creditors to agree on debt discountTOKYO: Japan Airlines (JAL) and its creditor banks are likely to agree to reduce the amount of the carrier's debts that the banks will forgive from ¥410 billion to about ¥383 billion, sources said Saturday. JAL...

US approves China's yuan move

2010-07-26 US TREASURY Secretary Timothy Geithner yesterday praised China's move to allow the yuan to float more freely, but again put pressure on Beijing to let its currency rise quicker and farther.China had long held a tight rein on the yuan, and...

Sunday, 25 July 2010

China group gets Malaysia rail deal

2010-07-25 CHINA'S South Locomotive said on Saturday it had entered into an agreement with the Malaysian government to supply interurban rail vehicles worth RM1.89 billion ringgit (US$591.9 million).South Locomotive, listed on both the Shanghai and Hong Kong...

Saturday, 24 July 2010

Deflation main threat to Japan: govt report

2010-07-24 STUBBORN deflation and low demand from an ageing population prone to tight-fistedness spell a difficult future for Japan's economy, the government warned in an annual report yesterday.Falling prices have been at the core of the lacklustre...

Cheers, jeers for iPad's 2nd Asia launch

2010-07-24 EAGER iPad fans in Singapore, Hong Kong and New Zealand braved long queues and discomfort to get their hands on the coveted Apple device as its second wave of Asia-Pacific launches began yesterday.A 20-year-old New Zealander set up camp outside an...

S'pore, China in forex deal

2010-07-24 THE central banks of Singapore and China have signed a bilateral currency swap agreement likely to boost the internationalisation of the yuan, a press statement said yesterday."The People's Bank of China (PBC) and the Monetary Authority of...

IN BRIEF

2010-07-24 1st financial guarantee insurer for sukukKUALA LUMPUR: Danajamin Nasional Bhd on yesterday became the first financial guarantee insurer to provide an Islamic Guarantee (or Al-Kafalah) for sukuk, with the issuance of the first Danajamin guaranteed...

Friday, 23 July 2010

Strikes end at 2 China auto suppliers

2010-07-23 CHINESE factory workers at two suppliers for foreign automakers returned to work yesterday after winning hefty pay rises, ending strikes that again highlighted the carmakers' vulnerability to their China suppliers. The strikes at Atsumitec Co,...

Muhyiddin: M'sia can be key deepwater oil, gas hub

2010-07-23 IF DONE right, Malaysia can become a key deepwater oil and gas hub globally after Houston, Rio De Janeiro and Aberdeen, said Malaysian Deputy Prime Minister Muhyiddin Yassin yesterday.Clearly, he said, the era of easy oil is over and the...

Asia-Pacific airlines enjoy strong recovery

2010-07-23 AIRLINES in the Asia-Pacific region are enjoying a strong recovery from the economic downturn, with sharp gains in passenger numbers and freight traffic in June, an industry group said yesterday.The Association of Asia Pacific Airlines (AAPA) said...

Temasek launches landmark 40-year bond

2010-07-23 STATE-LINKED investment giant Temasek Holdings yesterday announced a 40-year bond worth S$1 billion (US$727 million) priced at 4.2 per cent a year.The bond, due to expire in August 2050, is the first corporate bond priced in the local currency to...

IN BRIEF

2010-07-23 Japan warns against excessive yen rises TOKYO: Japan yesterday warned against excessive rises in the yen, as the currency hovers near a seven-month high against the dollar on worries about the US economic outlook. The dollar hit a seven-month low...

Thursday, 22 July 2010

IN BRIEF

2010-07-22 Hyundai Heavy profit soars on strong ordersSEOUL: Hyundai Heavy Industries, the world's biggest shipbuilder, said second-quarter net profit more than doubled on the back of improved demand for ships and offshore oil and gas platforms. Hyundai, which...

Foreign execs growing impatient with China

2010-07-22 CHINA'S growing importance to companies' bottom lines has led foreign firms to complain more openly about what they say are unfair business policies and market restrictions, experts say.While many top executives express their frustrations...

Khazanah cuts stake in Telekom M'sia

2010-07-22 MALAYSIA'S state investor Khazanah Nasional has raised 581 million ringgit ($181 million) after placing out a five percent stake in Telekom Malaysia Bhd, investment bank Maybank said in a statment.The 178.9 million shares were sold at a fixed price...

China to invest $738 billion in alternative energy

2010-07-22 CHINA has said it plans to invest 738 billion dollars developing clean energy over the next decade, as part of efforts to reduce the nation's heavy reliance on coal and slash carbon emissions.The five-trillion-yuan investment plan for 2011-2020 is...

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