Business » Asia

Monday, 10 November 2014

India pledges tough land, tax reforms

2014-11-10 INDIA will push ahead with tough land acquisition and tax reforms aimed at boosting investment and kickstarting the economy, Finance Minister Arun Jaitley said yesterday.He added that changes were needed to existing legislation to speed up the...

Saturday, 8 November 2014

Singapore’s GIC buys stake in New Zealand malls

2014-11-08     SINGAPORE sovereign wealth fund GIC will acquire a 49 per cent stake in five shopping malls in New Zealand for NZ$1.04 billion (US$798 million), its joint-venture partner said. Scentre Group, New Zealand’s largest shopping centre operator,...

SIA not considering takeover bid for Tiger Airways

2014-11-08   SINGAPORE Airlines is not currently considering a full takeover of partly-owned low-cost carrier Tiger Airways, even though it is raising its stake in the firm, the parent’s chief executive Goh Choon Phong said yesterday. SIA said in October...

Friday, 7 November 2014

Woodside in talks to resolve E Timor gas dispute

2014-11-07 AUSTRALIA’s Woodside Petroleum is in talks with East Timor on building an onshore gas plant, potentially removing one of the major barriers to developing gas fields that could provide billions of dollars to one of the world’s poorest countries....

Oman seeks investments from Malaysia

2014-11-07 OMAN has sought investments from Malaysia in its potential markets, particularly halal food, healthcare, construction, tourism and oil and gas sectors. Nader Abbas, general manager of Omanexpo LLC, an event management company in Oman, said...

Lenovo Q2 revenue drop hits smartphone hopes

2014-11-07 LENOVO Group Ltd reported quarterly revenue that missed analyst estimates, with a decline in smartphone sales curbing investor optimism about the world’s biggest maker of personal computers (PCs) turning into a force in mobile devices. Lenovo’s...

Thursday, 6 November 2014

E Timor boots judges over ConocoPhillips tax fight

2014-11-06 EAST Timor has ordered five foreign judges out of the country after a court ruled in favour of US oil and gas producer ConocoPhillips in cases tied to US$236 million in disputed tax assessments. ConocoPhillips operates the Bayu Undan gas field in...

Thai central bank stands pat, sees room for rate cut

2014-11-06   THAILAND’S central bank left its benchmark interest rate unchanged yesterday, as expected, but said there was still room to cut rates if needed as economic growth slows. The Bank of Thailand (BOT) said it would cut its economic growth forecasts...

China draft rules to ease limits on foreign investment

2014-11-06 CHINA is moving to raise its global competitiveness by loosening restrictions on foreign investment in more manufacturing and services sectors, the country’s top regulator said. In a draft foreign investment catalogue China’s National Development...

Vietnam likely to face trade deficit in 2015

2014-11-06 VIETNAM is forecast to face a trade deficit in 2015 after three consecutive years of trade surplus, according to the Ministry of Industry and Trade ( MoIT). The export revenues in 2015 are predicted to increase by roughly 10 per cent to US$163...

India invites foreign firms to invest

2014-11-06 INDIA’S finance minister is urging foreign investors to help plug enormous gaps in the country’s infrastructure blamed for holding back growth. “We are waiting for you,” Arun Jaitley told a roomful of international and Indian CEOs attending the...

Toyota races to record profit but Asia flashes red signal

2014-11-06 TOYOTA yesterday said it was on track for record US$17.5 billion full-year net profit, as Japan’s major automakers wrapped up a bumper earnings season, but a slowdown in Asia, including China, could slam the brakes on growth. The world’s biggest...

Wednesday, 5 November 2014

Better LTE network quality for Celcom customers in Sabah soon

2014-11-05 CUSTOMERS of Celcom Axiata Bhd in Sabah will get higher network quality with some 90 Long Term Evolution (LTE) sites available in the state soon.Its head of Sabah and Sarawak sales Choo Meng Chung said the sites will be in Keningau, Penampang,...

S’pore to adopt OECD pact to tackle tax cheats by 2018

2014-11-05 SINGAPORE will implement a global agreement on swapping tax information, aimed at ending offshore tax evasion, by 2018, provided certain conditions are met, Finance Minister Tharman Shanmugaratnam said.Singapore would adopt the standard drawn up by...

Indonesia to reshape Islamic finance

2014-11-05 AUTHORITIES in Indonesia want to reshape the country’s Islamic finance industry by encouraging consolidation and building a new regulatory system, as the sector plays catch-up to more mature markets in Malaysia and the Middle East.Regulators are...

World Bank chief urges Asian health help in Africa

2014-11-05 WORLD Bank President Jim Yong Kim yesterday urged Asia to send trained health workers to Ebola-stricken West Africa, warning the focus on stricter border control was not the solution. “I call on countries across Asia to offer trained health workers...

Vietnam may post trade deficit in next year

2014-11-05 VIETNAM may post a trade deficit next year after three straight years of surpluses due to weaker growth in exports and higher imports of machinery, the Ministry of Industry and Trade was quoted by local media as saying at a monthly meeting.The...

China presses for free trade deal at APEC summit

2014-11-05 CHINA yesterday pressed its case for measures to help kick-start an Asia-Pacific regional free trade area at an upcoming summit in Beijing, a framework that some see as an effort to draw attention away from a separate US-backed trade deal. China...

Tuesday, 4 November 2014

Japan minister calls for fiscal stimulus if Q3 GDP data weak

2014-11-04 JAPANESE Economy Minister Akira Amari said on Monday that the government should deploy fresh fiscal stimulus to prop up the economy if third-quarter preliminary gross domestic data due on Nov. 17 turns out weak, public broadcaster NHK reported....

IFSB issues draft on liquidity risk guide for Islamic banks

2014-11-04 THE Kuala Lumpur-based Islamic Financial Services Board (IFSB) has released draft guidance on liquidity risk management for Islamic banks and a new standard for regulatory supervision, as the industry body tightens oversight of banking practices....

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