Thursday, 11 August 2016

Oil prices seen to remain at US$50/bbl for next 5 years

2016-08-11 THE new normal for oil is US$50 per barrel, says a leading consultancy firm. Bain & Co feels that this scenario of prolonged low oil prices will remain for the next five years and predicts that the industry will continue to grapple with...

Wednesday, 10 August 2016

India keeps rates on hold

2016-08-10 INDIA’S Raghuram Rajan kept interest rates on hold yesterday in a bid to wrestle down inflation, in his final policy review as central bank chief.In a widely expected move, the popular Reserve Bank of India governor said he would hold the benchmark...

Philippines plans to import 250,000 tons of rice for delivery within Q3

2016-08-10 THE Philippines, one of the world’s biggest rice importers, plans to buy 250,000 tonnes of the food staple from either Vietnam, Thailand or Cambodia, as it seeks to maintain a comfortable reserve ahead of the typhoon season.The chairman of the...

Oil and gas loans ‘a worry, not a crisis’ for Singapore banks

2016-08-10 THE three Singaporean banks’ exposure to the troubled oil and gas sector has come under renewed scrutiny in the wake of Swiber Holdings’ collapse, causing anxiety in the investment community.Many now wonder if other oil and gas firms are facing...

Malaysian biz cashing in on Pokemon Go mania

2016-08-10 MALAYSIANS are cashing in on the Pokemon GO craze with some offering freebies and player accounts to fans of the location-based mobile game. Since the game was released locally last Saturday, retailers such as myBurgerlab — whose branches are all...

Emirates Airline adds Guangzhou to its A380 destinations

2016-08-10 DUBAI-BASED international carrier Emirates Airline said yesterday it will operate its flagship Airbus A380 “Superjumbo” for services between Dubai and Guangzhou, one of China’s largest cities, from Oct 1. Guangzhou will join Emirates’ extensive...

Tuesday, 9 August 2016

S’pore final GDP seen confirming sluggish Q2 growth

2016-08-09 SINGAPORE’S latest estimate of second-quarter gross domestic product is likely to confirm sluggish growth in the April-June quarter, with the outlook clouded by concerns over Brexit and weakening global demand.The median forecast in a Reuters...

Corporate Indonesia gears up for consumer demand revival

2016-08-09 INDONESIAN firms ranging from restaurant chains to snackmakers are stepping up investment and launching new products as improving economic conditions and easier access to credit drive a spurt in consumer demand in the country of 250 million people....

Amazon Japan raided on suspicion of antitrust

2016-08-09 JAPAN’S Fair Trade Commission has raided the offices of Amazon.com Inc’s local unit on suspicion of pressuring retailers to offer products at lower prices than on rival sites, the Nikkei business daily said yesterday.The paper, which cited...

Tourism, infrastructure to support Thailand’s economy this year

2016-08-09 THAILAND’S record tourist arrivals and public works spending are expected to offset weak domestic demand and global economic drag, keeping Southeast Asia’s second-largest economy on course for 3.1 per cent growth this year, the central bank...

China imports, exports decline

2016-08-09 CHINA’S exports and imports fell more than expected in July in a rocky start to the third quarter, pointing to further weakness in global demand in the aftermath of Britain’s decision to leave the European Union. Imports fell 12.5 per cent from a...

Bank of Japan board divided on monetary easing limits

2016-08-09 STARK divisions in the views of Bank of Japan board members were highlighted yesterday, with some defending unlimited easing of monetary policy and others arguing the BOJ had done enough — to the point of driving big market swings and sapping bond...

Monday, 8 August 2016

S’pore e-bus to ply public route

2016-08-08 AN ELECTRIC bus will be tested out for the first time in Singapore on a public route, in a pilot which could see more of such green vehicles being used for mass transport. The Land Transport Authority (LTA) revealed to The Straits Times Friday...

Philippines forex reserves still at record high

2016-08-08 THE Philippine Central Bank announced that the country’s gross international reserves have risen to its record high after benefiting for the bank’s foreign exchange operations and the price of gold in the international market, among other factors...

Foreigners turn buyers of S Korea bonds, purchase stocks again

2016-08-08 OFFSHORE investors were net buyers both of South Korean stocks and bonds in July, data from the country’s financial watchdog showed yesterday, after they lowered their treasury holdings in the previous month. Foreigners boosted their holdings of...

India’s CPI target to aid inflation fight

2016-08-08 INDIA’S decision to formally implement its central inflation target of four per cent can help moderate future price rises and support macroeconomic stability, Moody’s Investors Service said yesterday. The government of India this week notified...

China’s July forex reserves fall to US$3.20 trillion

2016-08-08 CHINA’S foreign exchange reserves fell to US$3.20 trillion in July, central bank data showed yesterday, in line with analyst expectations. Economists polled by Reuters had predicted reserves would fall to US$3.20 trillion from US$3.21 trillion at...

Saturday, 6 August 2016

Philippine mine crackdown rattles nickel markets

2016-08-06 AS THE Philippines’ tough-talking new president ratchets up a campaign against irresponsible mining, the suspension of a quarter of the country’s nickel mines and the risk of more action to come is spooking global nickel markets.The Southeast Asian...

Oil prices down on profit-taking

2016-08-06 OIL prices fell in Asia on profit-taking yesterday following two days of gains, but analysts suggested there could be some extra gains after recently falling below US$40 a barrel.The losses come despite a rally across regional stock markets after...

Japan’s Nakao to lead ADB for five more years

2016-08-06 TAKEHIKO Nakao (pic), a former senior finance ministry official in Japan, is to serve for five more years as president of the Asian Development Bank (ADB), the Manila-based lender said yesterday.Nakao, who turns 60 this year, had succeeded...