Saturday, 11 June 2016

Messaging app Line set for listing in Tokyo, New York: Reports

2016-06-11 MESSAGING app Line will list its shares in Tokyo and New York, reports said yesterday, in what could be one of the year’s biggest initial public offerings.Japanese media, including the Nikkei business daily and Kyodo news agency, said the Tokyo-...

Samsung Pay soon in Singapore

2016-06-11 FOLLOWING the launch of Apple Pay in April, South Korean electronics giant Samsung announced yesterday that it will launch its mobile payment service Samsung Pay in Singapore on June 16.Singapore is the fifth country to have Samsung Pay in the...

Scammers steal US$240k from Bhutan’s oldest bank

2016-06-11 BHUTAN’S oldest bank, the Bank of Bhutan, has fallen prey to scammers who managed to steal 16 million ngultrum (more than US$240,000) from the account of the Royal Audit Authority (RAA).The bank transferred the amount to three different accounts in...

ADB, AIIB to jointly fund road project in Pakistan

2016-06-11 THE Asian Development Bank (ADB) approved yesterday a US$100 million loan for a highway project in Pakistan, marking its first co-financing with China-led Asian Infrastructure Investment Bank (AIIB). In a statement, the Manila-based lending agency...

Friday, 10 June 2016

S Korea cuts rates to record low

2016-06-10 SOUTH Korea’s central bank surprised markets by cutting interest rates to a record low 1.25 per cent yesterday, to cushion the economy against weak exports and the fallout from a massive restructuring of an ailing shipping industry.The 25 basis...

Vodafone New Zealand and Sky Network TV in US$2.44b merger

2016-06-10 VODAFONE New Zealand will take a controlling interest in Sky Network Television under a NZ$3.44 billion (US$2.44 billion) merger deal, the pay-TV operator said yesterday.The combination of New Zealand’s largest subscription television service with...

Thursday, 9 June 2016

S’pore banks deny receiving 1MDB bond proceeds

2016-06-09 SINGAPORE’S central bank said yesterday no bank in Singapore received a US$3 billion wire transfer from Goldman Sachs which had arranged a bond issuance for Malaysian state fund 1Malaysia Development Berhad (1MDB).The Wall Street Journal reported...

Tesla CEO says working exclusively with Panasonic for Model 3 battery

2016-06-09 TESLA Motors is working exclusively with Panasonic Corp to supply batteries for the Model 3, its first mass-market car, the US automaker’s chief executive said yesterday, sending Panasonic shares higher.Reuters reported a day earlier a source with...

Oil holds above US$50 on tight supply, weak dollar

2016-06-09 OIL prices held above US$50 in Asia yesterday as traders awaited US inventory data and the dollar remained weak, boosting demand for the commodity.“The WTI crude oil price closed above the US$50 mark for the first time in eight months, resulting in...

South Korea creates US$9.5b fund for banks

2016-06-09 SOUTH Korea’s government and central bank will create an 11 trillion won (US$9.5 billion) fund to support two state-run banks most exposed to the country’s struggling shipping and shipbuilding firms.“Our key industries like shipping and...

China central bank holds line on growth forecast

2016-06-09 CHINA’S central bank slashed its forecast for exports on Wednesday, predicting a second straight annual fall in shipments, but said the economy will still grow 6.8 per cent this year. The People’s Bank of China (PBOC) also warned in its mid-year...

Amazon’s Jeff Bezos bets on India with US$3 billion investment

2016-06-09 AMAZON chief executive Jeff Bezos has pledged to invest US$3 billion in India, in a big bet on the growth of online shopping in the fast-growing South Asian economy. Speaking in Washington DC as India’s Prime Minister Narendra Modi visits the US,...

Ralph Lauren to cut 1,000 jobs, shut shops

2016-06-09 RALPH Lauren Corp is cutting about 1,000 jobs and closing 50 stores as part of a sweeping plan to lower costs and revive sales growth at the luxury fashion brand. Shares of Ralph Lauren, which also forecast declines in full-year and first-quarter...

Wednesday, 8 June 2016

Prospect bleak for European firms in China: Survey

2016-06-08 PESSIMISM among European companies about their prospects in China has hit an all-time high, a lobby group said yesterday, saying the country’s slowing growth has been accompanied by an “increasingly hostile” business environment. Fifty-six per...

US presses China to ease barriers for foreign investments

2016-06-08 SENIOR US officials pressed China again yesterday to reduce barriers for foreign businesses, saying concerns have grown due to a more complex regulatory environment. Foreign business confidence has been impacted by regulatory and protectionist...

Indonesians want cheap but sophisticated phones

2016-06-08 WHAT do Indonesian people usually look for when they want to buy new smartphones? Durability and sophistication are the main aspects that Indonesians would generally put first, according to a study conducted jointly by research specialists MARS...

Saudi cabinet approves economic diversification plan

2016-06-08 THE Saudi cabinet has approved a major plan to diversify the national economy away from oil and aiming to generate 450,000 non-government jobs by 2020. The National Transformation Programme (NTP) 2020, endorsed by cabinet late Monday, also seeks...

Tuesday, 7 June 2016

Apple sells 30-year bond in Taiwan at 4.15% yield

2016-06-07 APPLE Inc sold a 30-year US dollar bond in Taiwan at a yield of 4.15 per cent, sources said yesterday, aiming to raise between US$1 billion and US$1.2 billion in the first issue of debt by the US technology giant on the island that is home to major...

South Korea calls for Nissan to face charges over emissions

2016-06-07 SOUTH Korea has called for car giant Nissan to face criminal charges for allegedly manipulating emissions data on a popular sports utility vehicle, weeks after Seoul slapped the firm with a fine over the issue.The environment ministry called on...

Saudi cabinet approves economic diversification plan

2016-06-07 THE Saudi cabinet has approved a major plan to diversify the national economy away from oil and aiming to generate 450,000 non-government jobs by 2020.The National Transformation Programme (NTP) 2020, endorsed by cabinet late Monday, also seeks to...