Business » Asia

Wednesday, 11 March 2015

Twitter opens Hong Kong office

2015-03-11 TWITTER Inc has opened a Hong Kong office, its first in the Greater China region, the company whose microblogging services are blocked on the mainland said yesterday.The office, to be headed by Twitter executive Peter Greenberger, will allow the...

China Feb inflation jumps to 1.4 per cent

2015-03-11 CHINA’S consumer inflation jumped to 1.4 per cent in February, rebounding from a more-than-five-year low, official data showed yesterday, but concerns about deflation in the world’s second-largest economy persist.The increase in the consumer price...

Tuesday, 10 March 2015

Japan economy’s growth still weak

2015-03-10 JAPAN’S economy grew less than initially thought in the final quarter of 2014, revised government data showed Monday, revealing an even weaker emergence from recession than previously believed.The poor data could put the Bank of Japan under...

China to allow swapping up to US$160b of debt

2015-03-10 CHINA will let local governments convert up to one trillion yuan (US$160 billion) in debt to lower interest bonds as it seeks ways to ease their massive debt burden without crippling the broader economy. Beijing is struggling to rein in local...

Tesla to axe 30% workforce in China as sales target missed

2015-03-10 HIGH-END electric vehicle maker Tesla Motors Inc on Monday said it is cutting jobs in China under a restructuring plan launched earlier this year, after missing a sales target in the world’s biggest car market.Tesla declined to specify how many...

Indonesia to hold news conference on weak rupiah

2015-03-10 INDONESIA’S central bank governor, finance minister, and chief financial regulator will hold a news conference about the weakening rupiah on Tuesday, a government official said.The rupiah tumbled to a near 17-year low on Monday, down 0.7 per cent...

Monday, 9 March 2015

China takes lessons on slowdown, deflation from Japan

2015-03-09 CHINESE regulators are turning to Japan for lessons on economic history, determined to keep the world’s second biggest economy from taking the same path of recession and deflation that has blighted its neighbour for the past 20 years. Beijing...

Exports jump in China, but imports slide signals economic weakness

2015-03-09 CHINA’S exports picked up in the first two months of 2015, propelled by February’s exceptionally strong performance that was inflated by the timing of Lunar New Year, while a slide in imports pointed to persistent weakness in the economy.Data...

Malaysian firm cancels purchase of iconic Taipei 101

2015-03-09 IOI Properties Group Bhd purchase plan of a 37.17 per cent stake in Taipei Financial Centre, better know as Taipei 101, for NT$25.14 billion (US$798 million) from Ting Hsin International Group has been cancelled.IOI Properties said on Friday the...

Saturday, 7 March 2015

Malaysia keeps interest rates, eyes inflation

2015-03-07 MALAYSIA’S central bank kept its key interest rate unchanged at 3.25 per cent, as expected, saying current policy is supportive of growth and inflation is set to pick up. Economists surveyed by Reuters had unanimously expected Bank Negara to keep...

China aims to reduce coal consumption by 2017

2015-03-07 CHINA will reduce coal consumption and boost energy efficiency as part of efforts to lessen air pollution, according to an action plan released by the government on Friday. The world’s top consumer will cut coal consumption by over 80 million...

Thai Air mulls selling assets to cover 2015 losses

2015-03-07 THAI Airways International PCL will sell some of its 15.5 billion baht (US$481 million) of non-core assets to cover any losses this year due to one-off hits for cutting its fleet and workforce, the company’s president said on Friday. A sharp drop...

Friday, 6 March 2015

China lowers growth target, opens up industries

2015-03-06 CHINA set a lower economic growth target for this year and promised to open more industries to foreign investors as it tries to make its slowing, state-dominated economy more productive.The growth target of about seven per cent, down from last year...

Petronas begins US$17b bond, sukuk drive

2015-03-06 MALAYSIAN energy company Petronas began roadshows on Thursday to raise up to US$17 billion from conventional and Islamic bonds, or sukuk, for working capital.State-owned Petronas met potential investors for a US$15 billion multi-currency...

Thursday, 5 March 2015

China says tech firms have nothing to fear from anti-terror law

2015-03-05 CHINA’S proposed anti-terrorism law will not affect the legitimate interests of technology firms, a top Chinese spokeswoman said yesterday after US President Barack Obama warned of its impact and demanded amendments.China’s proposals, which would...

Singapore gains halal credibility

2015-03-05 HALAL has never looked so good for Singapore. A survey ranked the Asian country as the top non-Islamic destination for Muslim tourists, weeks after official data showed overall visitor numbers fell last year for the first time since 2009....

Ailing Malaysia Airlines readies for drastic overhaul

2015-03-05 AFTER a year of calamity, Malaysia Airlines is shrinking to survive. The disappearance of Flight 370 one year ago, combined with the downing of Flight 17 over a rebel-held area of eastern Ukraine four months later, brought the already financially...

Toyota promotes foreigners, including first woman, to top posts

2015-03-05 TOYOTA Motor Corp yesterday promoted more foreigners to senior posts, including the first woman and first African-American to hold executive titles, diversifying a management team long dominated by Japanese men.The world’s biggest automaker...

Wednesday, 4 March 2015

China interest rate cuts just the start as growth slows

2015-03-04 FACTORY employment has been falling for more than a year in the workshop of the world as Chinese growth slows, and analysts expect more intervention by the central bank after its second interest rate cut in just three months.The weekend’s rate...

China group ordered to sell ‘illegal’ Sydney mansion

2015-03-04 AUSTRALIA on Tuesday ordered China’s Evergrande Real Estate Group to sell a Sydney mansion worth Aus$39 million (US$30 million), saying it was bought illegally under foreign investment rules.Cashed-up foreigners, many from China, have been blamed...

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