Business » Asia

Saturday, 5 April 2014

Singapore targets investment in ‘disruptive’ tech

2014-04-05 SINGAPORE is hoping that building expertise in high-tech niches such as 3D printing and robotics will let it sustain a large manufacturing sector despite the exit of many labour-intensive industries to cheaper bases elsewhere in Asia. In line with...

Debt burden hobbles Indian infra

2014-04-05 INDIA’S KMC Constructions wants to build more roads in a country where thousands of kilometres are needed every year just to keep pace with double-digit growth in traffic. But the company won’t be bidding for many new contracts any time soon. The...

Friday, 4 April 2014

China unveils mini stimulus plan

2014-04-04 CHINA’S leaders have unveiled a mini-stimulus aimed at shoring up sputtering growth in the world’s second biggest economy. Under the measures announced by Premier Li Keqiang, small businesses will get bigger tax breaks, social housing will be...

Petronas to proceed with US$16b refinery, petrochemical project

2014-04-04 MALAYSIA’S state oil firm Petroliam Nasional (Petronas) board of directors has given the green light for a US$16 billion refinery and petrochemical integrated development (Rapid), the company said in a statement on Thursday. Located within the...

Thursday, 3 April 2014

BP to close Australian refinery as mega-plant competition mounts

2014-04-03 BP IS ceasing production at its Bulwer Island refinery in Brisbane, Australia by mid 2015, blaming competition from new mega-refineries in Asia that are cheaper to operate. Australia’s refineries, owned by BP, Royal Dutch Shell , ExxonMobil and...

Renesas in talks with Apple, others over display chip unit

2014-04-03 RENESAS Electronics Corp is talking with Apple Inc and other potential buyers of a stake in a smartphone display chip unit, as the struggling Japanese chipmaker restructures its business around the automotive industry, said a person familiar with...

Chinese coal firms creak under heavy debt, tumbling prices

2014-04-03 THE Baofu highway, a road that serves the mines in China’s coal-producing hub of Ordos, was largely empty on a recent visit. A few years ago, it was so clogged with trucks that the traffic jams were legendary, sometimes lasting several days.To...

Japan may only be able to restart 30% of its nuke reactors

2014-04-03 THREE years after the Fukushima disaster prompted the closure of all Japan’s nuclear reactors, Prime Minister Shinzo Abe is moving to revive nuclear power as a core part of the energy mix, but many of those idled reactors will never come back...

Indonesia’s Islamic finance broadens

2014-04-03 INDONESIA’S Islamic banks maintained double-digit asset growth last year while rural and non-bank segments made further gains, broadening the industry’s consumer base. Indonesia has the world’s largest Muslim population, but that potential has yet...

ASEAN and Hong Kong to pursue free trade pact

2014-04-03 ASEAN Secretary-General Le Luong Minh visited Hong Kong last week to discuss a possible free trade agreement.During his visit, at the invitation of the Hong Kong Special Administrative Region Government, Le met with high level officials who briefed...

Japan firms doubt BoJ price targets

2014-04-03 CORPORATE Japan expects the consumer price index to be just 1.5 per cent higher in a year from now, a Bank of Japan tankan (quarterly) survey found on Wednesday - a sign of how difficult the central bank could find meeting its two per cent...

Saturday, 29 March 2014

India to borrow US$61.4b via bonds

2014-03-29 INDIA will borrow a gross 3.68 trillion rupees (US$61.4 billion) in the first half of the fiscal year that begins on April 1, or 61.6 per cent of the full-year target, Arvind Mayaram, the country’s economic affairs secretary said on Friday. In the...

Tensions put Thailand on sidelines of investment plans

2014-03-29 CONTINUING political uncertainty, derailed infrastructure plans and sliding domestic demand are making big Thai companies look more keenly at investing elsewhere in the neighbourhood rather than in Southeast Asia’s second-largest economy. At the...

Friday, 28 March 2014

Japan’s ANA orders 40 Boeing, 30 Airbus planes worth US$16.4b

2014-03-28 ALL Nippon Airways (ANA) said Thursday it would buy 70 new planes worth US$16.4 billion, with almost half from Airbus in a move that marked a victory for the European aircraft maker as it tries to prise open the lucrative Japanese market.The...

Air Berlin delays 2013 results

2014-03-28 AIR Berlin, Germany’s second biggest airline, announced overnight Wednesday that it will postpone its annual earnings news conference as it continues to work on its recapitalisation plans. Air Berlin said in a statement that its “board of directors...

Securitisation market to get boost from Syariah restructuring

2014-03-28 SYARIAH-compliant structures could help revive the securitisation market tarnished by the global financial crisis, providing a fresh source of funds for companies, a top official from Malaysia’s Securities Commission said.Policymakers are keen to...

Thursday, 27 March 2014

Banks in Chinese city show cash to reassure depositors

2014-03-27 RURAL banks in China’s eastern city of Yancheng stacked piles of cash in plain view behind teller windows to calm depositors queueing at bank branches for a third straight day on Wednesday following rumours that they had run out of cash. According...

China’s plan for global yuan hits speed bumps

2014-03-27 TURBULENCE in Chinese financial markets, reflecting growing worries about investing in the country’s assets, could slow the yuan’s rapid emergence as a major international currency.Over the past five years, the yuan has gone from being a thinly...

Fonterra unfazed by earnings hit, pushes further into China

2014-03-27 FONTERRA, the world’s largest dairy exporter, on Wednesday said a steep hit to its first-half earnings won’t stop it from marketing more of its own-brand milk products in China and expand its food services business in the fast-growing market. The...

US jobless rate to fall below 6% this year: Fed

2014-03-27 THE US unemployment rate will fall below six per cent by the end of this year, a Federal Reserve official said on Wednesday, offering a bullish view on the country’s economy after central bank comments sent shock waves through financial markets...

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