Business » Asia

Thursday, 30 October 2014

China says anti-graft accord to be signed at APEC summit

2014-10-30 NEXT month Asia-Pacific Economic Cooperation (APEC) summit in Beijing will agree to a deal to fight corruption, China’s foreign minister said yesterday, appealing for more international cooperation.Chinese President Xi Jinping has launched a...

Myanmar to build fourth international airport

2014-10-30 MYANMAR has chosen a Japan-Singapore consortium to build its fourth international airport, a US$1.5 billion project north of the country’s biggest city Yangon, a senior transport ministry official said yesterday.The Hanthawaddy International...

Asia’s travel and tourism industry ‘to face talent crisis’

2014-10-30 ASIA’S travel and tourism sector is booming but will face a severe shortage of skilled workers in the next 10 years, a top industry executive said yesterday. Investments in human capital have lagged behind spending on infrastructure such as...

Wednesday, 29 October 2014

SoftBank invests $799m in Snapdeal

2014-10-29 SOFTBANK said Tuesday it would invest US$627m ($799m) in Snapdeal, becoming the largest shareholder in India’s leading online marketplace as the Japanese mobile carrier strengthens its presence in the fast-growing market. The announcement comes on...

Honda net profit in first half up 19%

2014-10-29 HONDA yesterday said its six-month net profit jumped almost 19 per cent, but the Japanese automaker, dented by a series of recalls, cut its earnings outlook for the full fiscal year.The Civic and Accord maker posted a 288.41 billion yen (US$2.67...

StanChart profit tumbles, plans cost cut

2014-10-29 STANDARD Chartered Plc said operating profit for the third quarter dropped 16 per cent and earnings would fall in the second half as a whole, hurt by a jump in bad loans and higher regulation and compliance costs.The Asia-focused bank also said on...

Tuesday, 28 October 2014

China mulls new investment scheme

2014-10-28 CHINA is studying pilot schemes that will allow domestic investors to make overseas investments using the Chinese currency, a move that could pump fresh oxygen into the stagnant offshore yuan pool.“The central bank is designing RQDII (Renminbi...

China, Singapore to start direct currency trading

2014-10-28 CHINA will begin trading its yuan currency directly with the Singapore dollar on Tuesday, the national foreign exchange market operator said, in the latest move to promote international use of Beijing’s unit.The Singapore dollar will be added to...

Bangladesh to export 50,000 tonnes rice to Sri Lanka

2014-10-28 BANGLADESH will export 50,000 tonnes of rice to Sri Lanka for the first time under a government-to-government deal at US$450 a tonne including cost, freight and insurance, Food Minister Mohammad Karmul Islam said on Monday.Strong output and good...

Dim outlook sees scale down of Samsung LED lighting

2014-10-28 SAMSUNG Electronics Co Ltd said on Monday that it will cease its light emitting diode (LED) lighting business outside of South Korea, scaling back what was identified as a key growth business just four years ago. The pullback comes on the heels of...

Monday, 27 October 2014

Widodo names technocrats to top economic posts

2014-10-27 INDONESIA’S new president yesterday named professional technocrats to lead the top economic ministries and implement much-needed reforms that address costly fuel subsidies, cooling investment and creaky infrastructure in Southeast Asia’s biggest...

Hiking popularity boosts Korean demand for outdoor clothing

2014-10-27 DESPITE falling sales in Koreaก’s overall fashion market, demand for outdoor clothing has risen steadily.On any day of the week, especially on the weekends, you can see groups of people heading out to hike the nation’s abundant and easily...

Saturday, 25 October 2014

South Korea’s Kia posts sharp Q3 decline in profits

2014-10-25 SOUTH Korea’s number two automaker, Kia Motors, reported yesterday a 27.2 per cent on-year plunge in net profit for the third quarter, as a stronger won offset rising sales.Net profit for the July-September period stood at 657 billion won (US$620...

China’s AIIB to rival World Bank

2014-10-25 CHINA and 20 other countries moved forward yesterday towards setting up an Asian infrastructure lender seen as a counterweight to Western-backed international development banks. The signatories put their names to a memorandum of understanding to...

Toyota shares rise after report achieving record profit

2014-10-25 SHARES in Japanese auto giant Toyota advanced in Tokyo trade yesterday following a report it is set to book a record operating profit in the six-month period to September.Toyota’s shares jumped 1.75 per cent to 6,151.0 yen (US$57) on the Tokyo...

Friday, 24 October 2014

Nissan recalling 260,000 vehicles globally with Takata air bags

2014-10-24 NISSAN Motor Co said on Thursday it is recalling 260,000 vehicles globally due to a defect in driver-side air bags made by Takata Corp.The Japanese parts maker is at the centre of a burgeoning number of recalls over air bags that could spray...

Indonesia’s largest state bank posts 12.9% net profit growth in first nine months

2014-10-24 INDONESIA’S largest state-run bank in term of asset, Bank Mandiri, posted 14.5 trillion rupiah (US$1.2 billion) net profit as of the third quarter this year, 12.9 per cent higher than 12.8 trillion rupiah (US$1 billion) it earned in the same period...

Thursday, 23 October 2014

Japan’s exports, deficit up in September

2014-10-23 JAPAN’S trade deficit edged higher in September though exports rose more than expected as the yen weakened to a near six-year low, the Finance Ministry said Wednesday.Exports jumped 6.9 per cent from a year earlier in September to 6.38 trillion yen...

SoftBank leads US$100m investment in Indonesian e-commerce firm Tokopedia

2014-10-23 SOFTBANK Corp announced Wednesday it will lead a US$100 million investment round in Indonesian e-commerce giant PT Tokopedia, the Japanese mobile carrier’s third investment overseas under Vice Chairman Nikesh Arora.SoftBank’s newly formed SoftBank...

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