Business » Asia

Wednesday, 9 July 2014

Myanmar gems trade nets US$3.5b

2014-07-09 MYANMAR’S latest official sale of jade, gems and pearl brought in a record high US$3.5 billion, a senior official from the Ministry of Mines told Reuters yesterday.Myanmar is the world’s biggest source of high-quality jade, much of it coming from...

Samsung’s smartphone market share drops

2014-07-09 SAMSUNG Electronics Co Ltd yesterday issued unexpectedly weak quarterly earnings guidance which put it on track for its worst results in two years and cast doubt on the smartphone leader’s strategy against cheaper Chinese rivals.Though the South...

FELDA seeks US$300m NASDAQ listing

2014-07-09 MALAYSIA’S state-owned agri-business conglomerate FELDA is looking to tap growing demand for botanical drugs and treatments with a planned US$300 million listing of a life sciences unit on the Nasdaq exchange by March, company officials said.Felda...

Tesla sued in China for trademark infringement

2014-07-09 US ELECTRIC car maker Tesla Motors Inc is being sued in China for trademark infringement, a surprise development that casts a shadow over CEO Elon Musk’s ambition to expand rapidly in the world’s biggest auto market. Tesla said in January that the...

Singapore’s Temasek remains positive on China banks

2014-07-09 SINGAPORE sovereign investor Temasek Holdings Pte Ltd said yesterday it intends to keep investing in Chinese banks even as it reported a slowdown in its portfolio growth due to a drop in the value of some of its bank holdings.Temasek, headed by Ho...

Philippines tuna industry targets Middle East market

2014-07-09 PREPARATIONS have shifted to high gear for the holding here of the annual National Tuna Congress, which, among others, will explore the potentials of tuna in the Middle East market. Now on its 16th year, the annual tuna conference seeks to improve...

Tuesday, 8 July 2014

In Brief

2014-07-08 Singapore to release advance Q2 data mid JulySINGAPORE: Singapore will report advance data on gross domestic product(GDP) for the second quarter on July 14, the Ministry of Trade and Industry said yesterday. The second quarter advance GDP data will...

Philippines’ ICTSI walks away from Indian container port contract

2014-07-08 PHILIPPINES-BASED port operator International Container Terminal Services Inc (ICTSI) said it agreed with an Indian shipbuilding venture to scrap a three-year-old contract to manage and operate a container terminal, saying the deal was “not...

Vietnam may post US$500 mln trade surplus in 2014

2014-07-08 VIETNAM could post a trade surplus of US$500 million this year, a state-run newspaper reported yesterday, citing revised government forecasts, as it seeks to reduce its reliance on imports from neighbouring China amid an ongoing diplomatic row.The...

Strong performance encourages Peugeot China venture outlook

2014-07-08 FRENCH carmaker PSA Peugeot Citroen’s Chinese joint venture with Dongfeng Motor Group Co Ltd raised its 2014 sales target by about 50,000 vehicles yesterday after a strong first-half sales performance.Dongfeng Peugeot Citroen Automobile Co Ltd sold...

China signs deal for 123 Airbus helicopters

2014-07-08 AIRBUS Group NV’s helicopter division sealed a deal yesterday to sell 123 helicopters to Chinese companies during German Chancellor Angela Merkel’s China visit.The orders, including both light single-engine helicopters from Airbus Helicopters’...

VW to build new plants in China

2014-07-08 German carmaker Volkswagen will build two new vehicle plants in China as it invests two billion euros (US$2.7 billion) along with its partner, it announced yesterday during a visit by Chancellor Angela Merkel.The agreement between the company and...

Monday, 7 July 2014

Indonesia’s next leader to walk into economic storm

2014-07-07 THE winner of this week’s Indonesian presidential election faces serious challenges to keep Southeast Asia’s top economy on track, from cutting fuel subsidies and fighting corruption to revamping creaking infrastructure and boosting spending on the...

Saturday, 5 July 2014

Mindanao town to plant cacao for chocolate supplier

2014-07-05 A SUPPLIER of cacao to US chocolate maker Mars Chocolate has inked a deal to increase the production of the crop in Mindanao.   Kennemer Foods International, Inc, represented by its president Simon Bakker, and the local government unit of...

Friday, 4 July 2014

Auto contractor probed for engine design leak

2014-07-04 A SOUTH Korean contractor was raided by investigators looking into whether it leaked Hyundai Motor and General Motors engine design technology to overseas firms, a senior prosecutor familiar with the probe said on Thursday. The investigation comes...

Passenger traffic up 6.2%, says IATA

2014-07-04 GLOBAL passenger traffic grew by 6.2 per cent in May compared with the same month a year ago, said the International Air Transport Association (IATA). While this represented a deceleration compared to April 2013 traffic growth of 7.6 per cent, the...

Thai rice prices hit 4-month high due to tight supply

2014-07-04 AN INSPECTION of rice warehouses launched by Thailand’s military government this week thinned supply and drove Thai rice prices to four-month highs on Thursday, although demand remained thin, traders said.The military is checking rice warehouses...

MASwings scales back KK-Palawan service to thrice weekly

2014-07-04 BARELY a month of flying five times a week between Kota Kinabalu and Palawan, MASwings Sdn Bhd has reverted to three flights a week even as tourist traffic has started to pick up, officials said. Doreen Padilla of the Civil Aviation Authority of...

Samsung to build US$1b display factory in Vietnam

2014-07-04 THE display manufacturing unit of Samsung Electronics Co said Thursday it secured approval from Vietnam to build a US$1 billion factory in the Southeast Asian country.Samsung Display Co said that the plant in northern Vietnam will supply small...

Thursday, 3 July 2014

TPP an ‘insurance’ versus China slowdown, says NZ

2014-07-03 NEW Zealand’s inclusion in the proposed 12-nation Trans-Pacific Partnership (TPP) will help lower its exporters’ exposure to any downturn in the China market, Trade Minister Tim Groser said Wednesday. Groser told a gathering of China experts at...

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