Business » Asia

Saturday, 18 July 2015

Posco puts troubled steel plant on hold

2015-07-18 SOUTH Korea’s Posco, the world’s fifth largest steelmaker, said yesterday it was placing a US$12 billion steel project in India on hold, as part of the restructuring of its bloated business structure at home and abroad.Posco, which has 48...

Banks to advise Myanmar on first credit rating

2015-07-18 CITIGROUP Inc and Standard Chartered Plc are set to advise Myanmar on its first credit rating, according to people with direct knowledge of the matter, paving the way for the country to issue its maiden international bond.After decades of isolation...

Friday, 17 July 2015

Malaysia June inflation up 2.5 per cent

2015-07-17 CONSUMER prices in Malaysia rose last month following the increase in petrol prices.The weaker ringgit as well as the goods and services tax (GST) also contributed to inflationary pressure.Data from the Statistics Department showed that the...

ADB cuts China, developing Asia economic forecasts

2015-07-17 THE Asian Development Bank yesterday trimmed its growth forecasts for China and developing Asia this year and next owing to weakness in the world’s number two economy. However, it said a pick-up in investment and the removal of red tape in India’s...

HK ivory trade ‘major threat’ to elephant survival: report

2015-07-17 RAMPANT illegal trading in ivory in Hong Kong is pushing elephants towards extinction, conservationists said yesterday, reporting more ivory items on sale there than in any other city.The sale of ivory items from government-registered stockpiles...

US dollar up on Fed chief rate hike comments

2015-07-17 THE US dollar rose against the yen and euro yesterday, buoyed by comments from Federal Reserve chief Janet Yellen that an interest rate hike was likely this year as the world’s top economy strengthens.In Asian trading, the greenback fetched 123.90...

Thursday, 16 July 2015

Asians invest in Australian businesses

2015-07-16 ASIAN investors are moving beyond property and natural resources in Australia and looking at companies in the service, technology, agriculture and manpower sectors.Other than attractive prices due to a depreciating Australian dollar, funds are...

Bank of Japan cuts annual GDP growth, inflation forecasts

2015-07-16 THE Bank of Japan (BoJ) yesterday cut its growth and inflation forecasts for the world’s third-largest economy, but said a recovery was still underway as it held fire on more easing measures. Following a two-day policy meeting, the BoJ said Japan’...

China’s Q2 growth steady at 7%

2015-07-16 CHINA’S economic growth in the latest quarter held steady at seven per cent, its weakest performance since the global crisis, but better retail sales and factory output in June suggested efforts to reverse the slump might be gaining traction.The...

Wednesday, 15 July 2015

Singaporeeconomycontracts

2015-07-15 SINGAPORE’S economy shrank in the second quarter of the year, official data showed Tuesday, as slowing demand from key export markets China and Europe hit manufacturing.The 4.6 per cent quarter-on-quarter contraction in April-June reversed a growth...

Oil prices tumble as Iran, global powers reach N-deal

2015-07-15 OIL prices tumbled more than a dollar on Tuesday as Iran and six global powers reached a nuclear deal that could see an easing of sanctions against Tehran and a gradual increase in its oil exports just as Asian economies showed further signs of...

Indonesia keeps rates on hold

2015-07-15 INDONESIA’S central bank kept its key reference rate on hold yesterday, resisting loosening policy to bolster an economy growing at its weakest pace since the global financial crisis.Bank Indonesia (BI) said interest rates were in line with its...

China bank lending, money supply up in June

2015-07-15 CHINA’S banks made 1.28 trillion yuan (US$206.18 billion) in new loans in June, handily topping market expectations, while broad money supply growth quickened last month, thanks to the central bank loosening policy to support the slowing economy.In...

Asia stocks mostly up on Greece debt deal

2015-07-15 MOST Asian markets climbed yesterday after Greece and its creditors agreed a debt deal to keep it in the eurozone, while the US dollar advanced as attention shifted back to when the Federal Reserve will raise interest rates.Both Shanghai and Hong...

Tuesday, 14 July 2015

China’s payments system scaled back

2015-07-14 CHINA is set to launch a watered down version of its long-awaited international payments system, using it only for cross-border yuan trade deals rather than also including capital-related transactions, two people with direct knowledge of the matter...

US$1.8b in loans for Thai farmers hit by drought

2015-07-14 THAILAND has approved loans of up to 60 billion baht (US$1.77 billion) to support farmers affected by drought, the finance minister said on Monday.The wet season is under way, but Thailand is contending with drought conditions in seven out of 67...

Philippine solar industry pushes for more incentives

2015-07-14 SOLAR companies will push the Philippine government to quadruple the size of an incentive scheme for suppliers of the renewable energy and to speed up project approvals, as the country grapples with precarious electricity supply. Industry group...

Indian Kashmir flood sparks wave of property insurance sales

2015-07-14 INSURANCE companies in Indian-administered Kashmir, which was hit by a destructive flood last September, have collected substantially higher premiums this year as property owners seek to avoid further financial losses from weather-linked disasters...

CEO’s death creates leadership doubts at gamemaker Nintendo

2015-07-14 NINTENDO Co Ltd Chief Executive Satoru Iwata died after a long illness, the company said on Monday, months after he led the Japanese video game maker’s belated entry into mobile gaming following years of declining sales. He was 55. The hands-on...

Iran nuke deal would add to oil glut

2015-07-14 ANY nuclear deal between Iran and six world powers loosening sanctions against Tehran could flood an oversupplied oil market with more fuel, yet sectors like cement and steel would see a rise in demand as the country works to revitalise its economy...

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