Business » Asia

Monday, 23 March 2015

China plans to resolve steel industry overcapacity by 2017

2015-03-23 CHINA will accelerate the overhaul of its overly-invested iron and steel sector to bring it back to a “basically balanced level” by 2017, the industry ministry said.The Ministry of Industry and Information Technology (MIIT) said it would aim to...

IMF shows support for China’s AIIB

2015-03-23 CHINA received critical support from the International Monetary Forum and Asian Development Bank on Sunday for its goal of establishing a new Chinese-led multilateral lender, adding to a growing wave of endorsements that has worried the United...

Termination letters for 6,000 MAS staff to be issued on June 1

2015-03-23 THE termination letters for all the current employees of Malaysian Airline System Bhd (MAS) will be issued on June 1 under the corporate exercise where the new company, MAB Airlines Bhd will take over the loss-making airline.   The new company...

Saturday, 21 March 2015

IMF’s Lagarde says inclusion of China’s yuan in due time

2015-03-21 CHINA’S yuan at some point would be incorporated in the International Monetary Fund’s (IMF) Special Drawing Right (SDR) currency basket, said Christine Lagarde, Managing Director of the IMF, said in Shanghai on Friday. “It’s not a question of if,...

ASEAN sets example on economic progress

2015-03-21 ASEAN has set an example for developing countries around the globe that aspire to greater economic progress, the International Monetary Fund (IMF) said. Its first deputy managing director, David Lipton said the region had risen from poverty to...

Friday, 20 March 2015

China yuan set for record rise as dollar takes a slide

2015-03-20 CHINA’S yuan looks set to post its biggest-ever weekly gain as Beijing moves to head off the risk of capital flight and quash speculation.The sharp correction to the exchange rate comes as state-owned banks are aggressively selling dollars at the...

OPEC has no option but to keep output ceiling: Kuwait

2015-03-20 OPEC members have no choice but to maintain current production levels despite falling oil prices in order to preserve their market share, Kuwait’s oil minister said on Thursday.“Within OPEC, we don’t have any other choice than keeping the ceiling...

ASEAN can be a major player to help drive global economic growth

2015-03-20 SUSTAINABLE ASEAN economies could attract substantial foreign direct investments (FDIs) to the region, thus driving global economic growth, says Treasury Secretary General Tan Sri Dr Mohd Irwan Serigar Abdullah. At the ASEAN Finance Deputies’...

WIPO: China’s Huawei leads international patent filings

2015-03-20 CHINESE telecom giant Huawei Technologies Co Ltd became the world’s number one applicant for international patents in 2014, a United Nations agency said Thursday, underscoring the innovative strides made by Chinese technology companies.Huawei was...

Thursday, 19 March 2015

Japan’s trade deficit shrinks 47.3% year-on-year in Feb

2015-03-19 JAPAN’S trade deficit nearly halved year-on-year in February as lower oil prices helped reduce the cost of imports, official data showed on Wednesday, with analysts saying Tokyo could achieve a surplus soon. The monthly deficit came in at 424.6...

In Brief

2015-03-19 India to strip RBI of powers to regulate bonds INDIA plans to strip the Reserve Bank of India of its powers to regulate government bonds, but leave the central bank in charge of other money market instruments, three government sources with direct...

China announces audit of state company assets abroad

2015-03-19 THE Cabinet agency that oversees China’s biggest banks, oil producers and other government companies has announced plans to have outside auditors examine their foreign assets in a new move to tighten control over state industry.The announcement...

China Feb new home prices fall at fastest rate on record

2015-03-19 CHINA’S average new home prices fell at the fastest pace on record in February from a year earlier, hurt by slower sales during the Lunar New Year holidays, but developers and analysts expected prices to slowly recover - particularly in top-tier...

ASEAN airlines poised for rapid growth, says Liow

2015-03-19 AIRLINES in ASEAN countries are poised for rapid expansion over the next decade as they take on the delivery of an estimated 3,000 new commercial aircraft worth about US$500 billion by 2032. Transport Minister Datuk Seri Liow Tiong Lai said the...

Langkawi to be AirAsia’s next int’l hub

2015-03-19 AIRASIA plans to make the Langkawi airport here its next international hub by generating at least one million passengers. AirAsia Group Chief Executive Officer Tan Sri Tony Fernandes said the plan is expected to take off in four months time...

Boeing pins hopes on Malaysia F/A-18 order

2015-03-19 US PLANE manufacturer Boeing, in talks with Malaysia for the sale of 18 F/A-18 fighter jets, is pinning its hopes on an order to give a boost to the struggling product, executives of the planemaker said on Wednesday.The F/A-18 model, French firm...

Cathay Pacific profits in 2014 below expectations

2015-03-19 HONG KONG flag carrier Cathay Pacific’s net profit for 2014 rose more than 20 per cent but failed to meet analysts’ expectations, results showed on Wednesday, with the airline hit by losses on fuel hedging.Cathay, whose shares dipped on the news,...

Wednesday, 18 March 2015

Nintendo answers call to develop smartphone games

2015-03-18   AFTER years of scoffing at the threat from smartphones, Nintendo Co is doing an about face and entering an alliance with Japanese mobile game company DeNA Co to develop games for mobile devices. The announcement yesterdaymeans that Nintendo's...

Rains melt Philippinessugar output forecast

2015-03-18 SUGAR output in the Philippines, a key US supplier, is now expected to be below the government's initial forecast of 2.5 million tonnes for the current crop year due to bad weather, prompting the industry regulator to cut allocations for exports....

New M’sian airline in US$1.4b deal

2015-03-18 A NEW Malaysian airline, flymojo, yesterday inked an agreement to buy 20 CS100 aircraft from Bombardier Inc, giving the Canadian manufacturer its first customer for the plane in Southeast Asia.A joint statement said the deal, signed in preliminary...

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