Monday, 30 May 2011

Singapore Airlines gambles with new budget carrier

2011-05-30 SINGAPORE Airlines' decision to launch a long-haul budget carrier is a risky but necessary gamble as it comes under growing pressure at both ends of the market, aviation analysts said.SIA, one of the world's most profitable premium airlines,...

Sunday, 29 May 2011

M'sia lacks Syariah financial planners: deputy minister

2011-05-29 MALAYSIA still lacks Syariah financial planners despite being a world leader in Islamic finance, capital market and the takaful industries, says Deputy Finance Minister Datuk Donald Lim Siang Chai."It is a largely underserved market today that...

Saturday, 28 May 2011

'New rice crisis possible'

2011-05-28 A REPEAT of the 2008 rice crisis that led to riots in the developing world cannot be ruled out as the cost of other agricultural goods surge, a research group has warned.The International Rice Research Institute (IRRI) said the global rice market...

IN BRIEF

2011-05-28 Sime Darby returns to profit in third quarter KUALA LUMPUR: Malaysian palm oil giant Sime Darby yesterday announced a return to third quarter profits and said it expects to surpass targets for the full fiscal year due to higher crude palm oil prices...

S'pore GDP to top HK's this year, says Merrill

2011-05-28 SiNGAPORE'S economy looks set to overtake Hong Kong's this year, helped by strong gains in Singapore's currency against the US dollar, to which the Hong Kong dollar is pegged, Bank of America Merrill Lynch said yesterday.! "Singapore's GDP...

Toyota, Honda output halves

2011-05-28 JAPANESE auto giants Toyota and Honda saw global production halved in April as the March 11 earthquake and tsunami ravaged supply chains, the companies said yesterday.Honda reported a 52.9 per cent year-on-year drop in worldwide production and an...

M'sia to seek ways to keep fuel price steady

2011-05-28 MALAYSIA will look for avenues to keep fuel prices at current levels as long as possible to avoid burdening consumers, Prime Minister Najib Razak was quoted as saying by New Straits Times yesterday.!The government held off on a fuel subsidy...

Friday, 27 May 2011

AirAsia boss unfazed by SIA's low-cost airline plan

2011-05-27 AIRASIA chief Tony Fernandes yesterday brushed aside Singapore Airlines' plans for a long-haul budget airline that will challenge his AirAsia X, saying "piracy continues to follow me".SIA announced on Wednesday it was looking to set up a...

IN BRIEF

2011-05-27 Ricoh to axe 10,000 jobs to spur profits TOKYO: Copier and printer maker Ricoh Co will cut nearly 10 per cent of its staff to try to boost profits, a move that shows underperforming Japanese companies are stepping up efforts to compete with global...

Sony sees return to profit in year to March 2012

2011-05-27 JAPANESE electronics and entertainment giant Sony yesterday reported its third annual loss in a row but forecast a return to the black this year despite a huge attack from hackers.Sony confirmed it suffered a net loss of ¥259.6 billion (US$3.2...

M'sia to review fuel price if oil hits US$110-US$120

2011-05-27 MALAYSIA will review fuel prices if the price of oil is at US$110-US$120 per barrel, Deputy Finance Minister Donald Lim was quoted as saying yesterday in a Sun newspaper alert.!He did not specify the brand of crude.!The government said on...

Thursday, 26 May 2011

EU firms cite unfair treatment in China

2011-05-26 A GROWING number of European companies in China say they are treated unfairly by Beijing, and many say they are facing tougher competition from homegrown firms, a business group said yesterday.The results of the European Union Chamber of Commerce in...

IN BRIEF

2011-05-26 Top owners eye 51%sale in Bank MuamalatSINGAPORE/DUBAI: Top shareholders of Indonesia's PT Bank Muamalat aim to sell at least 51 percent of the unlisted Islamic lender, in a deal that may be worth about US$300 million, sources with knowledge of the...

Turkmenistan has world's No 2 gas field: auditor

2011-05-26 CENTRAL Asia's energy giant Turkmenistan owns the world's second-biggest natural gas deposit, the head of a British auditing firm said yesterday."It appears the South Yolotan is the second largest gas field in the world," Peter...

Thailand interested to supply bulk of EU duty-free sugar

2011-05-26 THAILAND may sell more sugar to Europe if the EU approves a duty-free import quota for 200,000 tonnes, potentially lifting premiums despite a record output in the world's second-largest exporter, industry officials and traders said yesterday.!Europe...

SIA to set up new budget carrier within one year

2011-05-26 SINGAPORE Airlines (SIA) said yesterday it will launch within one year a new budget airline using wide-body aircraft to tap into growing consumer demand for low-cost travel over longer distances.SIA already runs a short-haul mid-price airline called...

Unilever raises prices in China after getting fined

2011-05-26 CONSUMER product giant Unilever Plc has raised prices on some of its products in China, three weeks after Beijing fined the company for talking about price increases, the local Guangzhou Daily reported yesterday.!Many supermarkets and shopping...

Japan's Softbank announces solar power plan

2011-05-26 JAPANESE telecom company Softbank is to work with local authorities in a drive towards renewable energy, its president said yesterday after announcing the construction of 10 large solar power plants.Since Japan's March 11 earthquake and tsunami...

Malaysian carmaker Proton warns of challenging outlook

2011-05-26 MALAYSIAN carmaker Proton has returned to profitability, recording a steep increase in its fourth quarter net profit year-on-year, but warned yesterday of a challenging outlook.Proton recorded a net profit of 61.6 million ringgit (US$20.1 million)...

Wednesday, 25 May 2011

US urged to reduce IMF voting share

2011-05-25 THE United States should reduce its dominant voting share in the International Monetary Fund, an adviser to the People's Bank of China said yesterday, helping to give emerging economies more of a say in deciding who will take the helm of the IMF. !...