Business » Asia

Wednesday, 15 October 2014

Hong Kong stocks close down 0.41 per cent

2014-10-15 HONG KONG shares ended 0.41 per cent lower yesterday as earlier gains were wiped out by lingering concerns about the global economy following more losses on Wall Street.The Hang Seng Index declined 95.41 points to 23,047.97 on turnover of HK$62.52...

Thailand to regain world’s top rice exporter title

2014-10-15 THAILAND is set to regain its position as the top rice exporter in the world in 2015. Exports next year are estimated at 10.6 million metric tonnes compared with eight million metric tonnes for India, the current top exporter, and Vietnam at 6.9...

Costco to enter China through Alibaba’s Tmall

2014-10-15 US WAREHOUSE club operator Costco Wholesale Corp said it would open an online store in China using Alibaba Group Holding Ltd’s fast-growing Tmall online marketplace, entering the country’s booming ecommerce market to combat slowing sales at home....

Singapore GDP up 1.2 per cent in Q3

2014-10-15 SINGAPORE’S economy returned to growth in July-September, reversing contraction in the previous three months, owing to a pick-up in the city-state’s key manufacturing sector, the government said yesterday.Compared with the second quarter, gross...

Tuesday, 14 October 2014

Dollar concerns lead to rising gold

2014-10-14 GOLD prices rose on Monday as the dollar fell and worries over the global economic outlook hit investors’ appetite for risk, lifting the appeal of assets perceived as safer.Spot gold rose to a near four-week high of US$1,237.30 an ounce and was...

IMF launches consultations on Islamic finance

2014-10-14 THE International Monetary Fund found has held its first consultation with an external advisory group of Islamic finance industry bodies, as regulators across the globe seek to address structural issues in the sector.Islamic finance, with its core...

Garuda makes US$5b plane order

2014-10-14 INDONESIAN flag carrier Garuda has placed an order for 50 planes worth almost US$5 billion, US plane giant Boeing said, as competition heats up for passengers in Asia’s increasingly crowded skies.Garuda ordered 46 of Boeing’s new 737 MAX 8 jets and...

Pakistan Islamic banking face obstacles

2014-10-14 PAKISTAN’S central bank has released a study of Islamic banking, the first of its kind in the country, which shows latent demand for syariah-compliant finance but many obstacles such as small branch networks and a lack of product awareness among...

China exports, imports surge ahead of expectations

2014-10-14 CHINA’S exports and imports both rose more than expected in September, Customs data showed Monday in a positive signal for the world’s second-largest economy, but analysts warned that fundamentals remained weak. The trade surplus more than doubled...

Monday, 13 October 2014

Sriwijaya Air to launch Medan-Kuala Terengganu flight

2014-10-13 INDONESIAN airline Sriwijaya Air, will launch its inaugural direct flight from Medan to Kuala Terengganu on Nov 24. State Tourism and Cultural chairman Datuk Mohd Jidin Shafee said the move by the low cost carrier will help boost tourist numbers...

Indonesia coffee exports surge

2014-10-13 DESPITE lower national production, the country’s foreign exchange earnings from coffee exports is expected to increase by at least 10 per cent this year, thanks to the surge in the commodity’s price in the global market.The Trade Ministry’s...

Thai rubber farmers seek bailout

2014-10-13 AS RUBBER prices slump, hard-up farmers in Thailand – the world’s top producer of the commodity – are appealing for a bailout, testing the junta’s resolve to end populist policies and an entrenched subsidy culture.The global price for a one...

Urban decay may stall Philippines economic growth

2014-10-13 MANILA’S creaking train network means a miserable three-hour work commute for salesman Gerard Galang – just one example of major infrastructure woes that analysts say threaten to cool the Philippines’ red-hot economy.Peak-hour hell comes in many...

Saturday, 11 October 2014

Indonesia’s overseas coal shipment to see fall

2014-10-11 THE export of coal from Indonesia, the world’s largest thermal coal exporter, was projected to decline in the fourth quarter as the government has imposed a policy to control the shipment, an official said here yesterday.Deputy Minister for Energy...

Tiger Airways to sublease excess planes

2014-10-11 SINGAPORE’S Tiger Airways Holdings Ltd has agreed to sublease 12 surplus aircraft to Indian budget airline IndiGo as part of a plan to cut capacity and trim costs in the face of stiff competition in Southeast Asia. In a statement late on Thursday...

Malaysia sees economic growth holding steady at 5-6 per cent in 2015

2014-10-11 MALAYSIA sees economic growth holding steady at 5.0 to 6.0 per cent in 2015, despite expectations that domestic demand will be dampened by reduced fuel subsidies and the introduction of a new sales tax. The forecast, alongside an estimate of 5.5...

Friday, 10 October 2014

ASEAN integration to add 3.1m jobs in Philippines

2014-10-10     THE Philippines could add 3.1 million jobs to its labour market as a member of the ASEAN Economic Community (AEC), which is expected to come into force in 2015, the International Labour Organisation (ILO) said yesterday. However, the ILO...

Mercedes Benz M’sia posts 16% increase in year-on-year sales

2014-10-10 MERCEDES Benz Malaysia, after a phenomenal first half, recorded a 16 per cent rise in year-on-year sales in the third quarter. As of September 2014, the luxury marque recorded sales of 6,642 units vehicle, up from 5,747 units sold during the...

Thursday, 9 October 2014

Shell starts oil production from Gumusut-Kakap

2014-10-09 SHELL has started oil production from the Gumusut-Kakap floating platform off the coast of Malaysia, which is in waters up to 1,200 metres (3,900 feet) deep.Shell said on Wednesday the oil production was the latest in a series of Shell deep-water...

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