Business » Asia

Wednesday, 14 January 2015

As aluminium overcapacity drags on China prices, product exports jump

2015-01-14 OVERCAPACITY in China’s beleaguered aluminium market will persist in coming months, weighing on local prices and boosting the appeal of shipping aluminium products overseas, traders and analysts said. Increased product exports will help plug a...

Malaysia scraps US$20b merger

2015-01-14 MALAYSIA will scrap a proposed $20 billion merger that would have created the country’s biggest bank, after CIMB Holdings and RHB Capital failed to agree on new deal terms, people familiar with the matter said. The merger would have formed a...

Facebook wanted to invest in Xiaomi

2015-01-14 MARK Zuckerberg and Xiaomi Inc CEO Lei Jun discussed a potential investment by Facebook in China’s top smartphone maker ahead of its US$1.1 billion fundraising last month, but a deal never materialised, several people with knowledge of the matter...

Tuesday, 13 January 2015

Cheung Kong,Hutchison shares up on revamp plan

2015-01-13 SHARES of Cheung Kong Holdings Ltd and Hutchison Whampoa surged yesterday after Asia’s richest man Li Ka-shing announced a restructuring of his business empire, a move he said was aimed at creating better value for shareholders.The group said on...

India makes weak recovery

2015-01-13 HELD back by weak demand at home and abroad, Indian industrial output probably made a tepid recovery late last year, underscoring the challenges faced in 2015 by Prime Minister Narendra Modi as he seeks to woo global investors this week.To...

Malaysia Q4 cocoa grinding tumbles 21%

2015-01-13 COCOA processing in Malaysia slumped by a fifth to 55,590 tonnes in the fourth quarter, the Malaysian Cocoa Board said yesterday, as sluggish demand and a bleak outlook forced grinders to cut down output.Cocoa grinding, which reflects demand for...

Singapore’s business confidence drops in Q1

2015-01-13 THE Business Optimism Index (BOI) in Singapore is projected to drop to a low level in the first quarter of 2015 amid global political headwinds and softer regional demand in external-oriented sectors, the Singapore Commercial Credit Bureau (SCCB)...

China auto sales slow in 2014

2015-01-13 GROWTH in auto sales in China, the biggest market by number of vehicles sold, slowed last year but reached 19.7 million vehicles as domestic brands lost more market share to foreign competitors. Sales of passenger vehicles for the full year rose 9...

Monday, 12 January 2015

Volvo to sell Chinese-made midsize sedan in US this year

2015-01-12 VOLVO Car Group plans to export a Chinese-made midsize sedan this year to the United States, and is starting to weigh the possibility of building a vehicle factory in the United States, people familiar with the Chinese-owned automaker’s plans said....

Japan readies record US$800b budget

2015-01-12 JAPAN’S government will propose a record budget for next fiscal year of more than US$800 billion but cut borrowing for a third year, government officials said yesterday, as Prime Minister Shinzo Abe seeks to maintain growth while curbing the...

Saturday, 10 January 2015

India’s newest airline takes off seeking upmarket flyers

2015-01-10   INDIA’S newest airline made its maiden flight yesterday, kickstarting attempts to attract well-heeled passengers in a market dominated by loss-making, no-frills carriers. New airline Vistara – a Sanskrit word meaning “limitless expanse” – took...

China’s inflation edges up in December

2015-01-10 CHINA’S consumer inflation edged up in December despite the slump in global oil prices but was still well below the official target. Prices rose 1.5 per cent from a year earlier, up from November’s 1.4 per cent increase, government data showed...

Indonesia raises four billion in dollar bonds

2015-01-10 INDONESIA has raised US$4 billion in a US dollar bond issue, taking advantage of the current low-yield environment and improving sentiment about the country and policies its new president is pursuing. The yield is at 4.200 per cent for US$2...

Friday, 9 January 2015

Malaysia’s central bank reserves fall US$4.7b in last 2 weeks of 2014

2015-01-09 MALAYSIA’S international reserves fell US$4.7 billion in the last two weeks of 2014 as its ringgit currency slid against the dollar, on its way to a 5-1/2 year low struck earlier this week. The Southeast Asian oil and gas producer was hit hard...

Indonesia cracks down on cheap fares to boost airline safety

2015-01-09 INDONESIA’S transport ministry has cracked down on the sale of cheap tickets for domestic flights to ensure airlines do not cut corners on safety, authorities said yesterday, just over a week after an AirAsia flight crashed into the Java Sea.The...

Sony to delay sale of PlayStation 4 in China

2015-01-09 SONY Corp will delay sales of the PlayStation 4 gaming console in China, originally scheduled for January 11, due to “various factors”, the company said in a statement yesterday.Sony’s Computer Entertainment division said a new sale date had not...

Standard Chartered axes retail jobs in cost cut push

2015-01-09 STANDARD Chartered is closing the bulk of its global equities business and axing 4,000 retail banking jobs as Peter Sands moves to aggressively cut costs to reverse the Asia-focused bank’s fortunes, according to a memo seen by Reuters.As part of...

Samsung forecasts first annual profit drop in 3 years

2015-01-09 SAMSUNG Electronics Co said yesterday its annual profit fell for the first time in three years as its smartphone growth lost steam.The company’s 2014 operating profit is expected to be about 24.9 trillion won (US$22.6 billion), down 32 per cent...

Myanmar expects to attract more tourists in 2015

2015-01-09 MYANMAR, among the world tourist destinations, received 3.05 million tourists in 2014, with an expectation to attract five million tourists in 2015.Of the 3.05 million tourists who visited Myanmar in 2014, 70 per cent mainly came from ASEAN member...

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