Business » Asia

Tuesday, 10 May 2016

China urged to cut steel output further

2016-05-10 CHINA should urgently deal with its steel overcapacity problem, the European Union’s ambassador to China said yesterday, as the world struggles with weak demand of the material, much of which comes from China. Seven countries or blocs, including...

Monday, 9 May 2016

Philippine peso seen to remain weak

2016-05-09 The Philippine peso’s weakness is seen persisting until after the elections as markets remain anxious about a peaceful transition between the present and the incoming administrations.On the last trading day before markets close ahead of the...

Diamond trading shines bright for investors

2016-05-09 DIAMONDS can now be bought more cheaply and traded more easily with last week’s launch of an electronic diamond exchange here, in a move set to add sparkle to Singapore’s investment scene.The Singapore Diamond Investment Exchange (SDiX), which is...

China’s April exports, imports decline more than expected

2016-05-09 CHINA’S exports and imports fell more than expected in April, underlining weak demand at home and abroad and cooling hopes of a recovery in the world’s second-largest economy. Exports fell 1.8 per cent from a year earlier, the General...

Honda to recall 20 million more Takata airbags: report

2016-05-09 HONDA Motor will recall an additional 20 million Takata-made airbags globally, a newspaper said Sunday, in a widening scandal that has led to the biggest auto recall in US history.Tokyo-based auto parts giant Takata is struggling to deal with a...

China Inc waves long goodbye to HK bourse

2016-05-09 AS China’s richest man Wang Jianlin prepares to delist his main commercial real estate company from Hong Kong, bankers expect more Chinese businesses to head back home, irked by the deep discount for shares listed on the territory’s stock exchange...

Saturday, 7 May 2016

Gucci apologises over Hong Kong row

2016-05-07 LUXURY fashion brand Gucci apologised on Friday after warning Hong Kong’s funeral shops not to sell paper fakes of its products, traditionally burned as tributes to the dead. Burning paper replicas of everything a loved one could ever want in the...

Philippine peso falls on election jitters

2016-05-07 THE Philippine peso was set to post its third straight weekly fall, hitting a two-month low yesterday, amid growing worries about the new government’s economic policies ahead of a presidential election next week. Most other emerging Asian...

Friday, 6 May 2016

Alibaba’s quarterly revenue leaps 39%

2016-05-06 CHINESE e-commerce giant Alibaba’s revenue surged 39 per cent year-on-year in the first three months of 2016, the company said yesterday, its fastest growth in the last four quarters.Revenue hit 24.18 billion yuan (US$3.75 billion) for the three...

Facebook opens KL office

2016-05-06 FACEBOOK, the social media giant, has opened a local office in KL Sentral.The local team will be looking to connect more businesses and agencies with the company’s solutions.“Today’s office launch marks a milestone for Facebook in Malaysia and we...

Two Takata linked deaths in Malaysia

2016-05-06 TWO people have died in Malaysia after airbag inflators made by Japan’s Takata exploded, carmaker Honda announced, raising the global toll to 13 in a scandal that has led to the biggest auto recall in US history. Tokyo-based auto parts giant...

Thursday, 5 May 2016

Party’s over for India’s tycoon Vijay Mallya

2016-05-05 INDIA’S flamboyant businessman Vijay Mallya once said that his extravagant lifestyle was “carefully crafted” to promote a business empire that ranged from beer and spirits to an airline and the Sahara Force Formula One team.The portly, diamond stud...

Malaysia dissolves 1MDB advisory board

2016-05-05 MALAYSIA’S finance ministry said yesterday it would dissolve the board of advisers at 1Malaysia Development Berhad (1MDB) and take over its remaining assets, in an apparent move to scale down a state fund whose scandals have rocked the government....

Indonesia Q1 GDP slows to 4.92%

2016-05-05 INDONESIA reported lower than expected growth in the first quarter, but many economists still expect enough of a rebound this year that the country can avoid further slowing and grow more than five per cent in 2016.The statistics bureau said...

Dine and shop with style in Seoul

2016-05-05 JUST a couple of months after its opening, it became one of the must-visit tourist spots in the capital city for fashion-savvy tourists from Asian countries. A popular Chinese fashion blogger posted photos of Cafe Dior on Instagram last year,...

Wednesday, 4 May 2016

Saudi plans new scheme to reduce unemployment

2016-05-04 SAUDI Arabia’s government plans a new set of labour quotas and incentives to reduce unemployment as it tries to wean its economy off oil exports, Labour Minister Mufrej al-Haqbani said yesterday.The changes are part of a wider reform plan announced...

HSBC profit falls on weak trading

2016-05-04 HSBC reported a smaller-than-expected 14 per cent drop in quarterly profit, as a surge in revenue at its commercial banking unit partly offset the weak trading business caused by the grim global market environment early in the year.The first-...

China, Japan growth to slow sharply in 2016: IMF

2016-05-04 CHINA and Japan’s economies are expected to slow sharply over the next two years but Asian growth will remain strong as domestic demand takes up the slack from weak global trade, the IMF said yesterday. Government stimulus measures, lower...

Tuesday, 3 May 2016

S Korea’s local car sales rise in April on consumption tax cuts

2016-05-03 DOMESTIC car sales by South Korea’s five automakers increased last month on the back of consumption tax cuts, while exports reduced on weak demand from emerging markets, industry data showed yesterday. Global auto sales by Hyundai, Kia, GM Korea,...

Excellent service by MAS impresses investor

2016-05-03 MALAYSIA Airlines (MAS)’s excellent services is a good benchmark on how Malaysia welcomes investors, Tata Consultancy Services Ltd (TCS) Head Delivery & Operation Milind Kamble said. “When I step into a Malaysia Airlines aircraft, the excellent...

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