Business » Asia

Friday, 10 July 2015

Oz dollar almost at par with Singapore

2015-07-10 THE tumbling Australian dollar is now a hair's breadth from parity with the Singapore dollar, which is good news for travellers Down Under and Singapore students studying there.Weak global commodity prices and the rising greenback have taken a toll...

Thursday, 9 July 2015

Malaysian central bank seen to hold rates amid political turmoil

2015-07-09 BANK Negara Malaysia (BNM) is expected to keep its policy interest rate unchanged at today’s meeting, holding a steady course amid market turbulence as corruption allegations swirled around Prime Minister Najib Razak.Following a Wall Street Journal...

China’s Uber-style taxi app raises US$2 billion

2015-07-09 CHINA’S top taxi hailing app Didi Kuaidi announced yesterday it raised US$2 billion in two weeks, after reports said US rival Uber planned to invest US$1.1 billion in the country this year.Didi Kuaidi, which is backed by technology giants Alibaba...

Investors buying bonds

2015-07-09 WITH Chinese policymakers so far unable to stem a rout in Chinese equities, money is flowing back into government and state-backed bonds – driving yields lower and potentially easing strains on debt-laden municipal governments.Yields on the 10-year...

Asia stocks sink as China sell-off spreads

2015-07-09 ASIAN equities tumbled yesterday as a collapse in Chinese shares began to contaminate other markets, and after European leaders slapped Greece with a deadline to submit fresh bailout reform proposals. With markets buffeted by two global crises,...

Iron ore hits 10-year low

2015-07-09 IRON ore tumbled to a 10-year low yesterday while Dalian futures plunged to a record low as the selloff in China-traded commodities showed no sign of letting up amid bearish views on the economy and following steep losses in equities.Chinese shares...

Wednesday, 8 July 2015

Temasek CEO Ho Ching to return after sabbatical

2015-07-08 SINGAPORE state investor Temasek Holdings said Chief Executive Ho Ching will return in her role after her three-month sabbatical ends later this month. Neil McGregor, a senior managing director at Temasek, said the board looks at succession...

Indonesia hopes new tools will boost appeal to foreign Islamic banks

2015-07-08 INDONESIAN regulators are promoting new Syariah-compliant financial tools and considering easing foreign ownership limits for domestic Islamic banks, seeking to make the sector more appealing to foreign lenders.Indonesia is the world’s most...

Issuance of Islamic bonds to drop sharply in 2015: S&P

2015-07-08 STANDARD & Poor’s Ratings Services foresees the global sukuk (Islamic bond) market heading toward a correction in 2015 after the central bank, Bank Negara Malaysia (BNM) – one of the largest issuers of sukuk worldwide – stopped issuing earlier...

New high in Temasek net portfolio

2015-07-08 TEMASEK Holdings grew its net portfolio value by S$43 billion to a fresh record of S$266 billion for the year ended March 31, the Singapore investment company announced yesterday during its annual performance review. One-year total shareholder...

Hard lesson for Chinese investors

2015-07-08 THREE weeks of falls on Shanghai’s stock market have cost veteran investor Gu Yongbiao five million yuan – more than US$800,000 – he estimates, over two-thirds of the value of his portfolio.“The companies and institutions suck our money away. We...

Shopping via phones in India may cross US$638b by 2018

2015-07-08 THE nature of shopping is changing turf from physical realm to the luminescent screen of the cellphone. The explosion of new online shopping applications, Internet-enabled cellphones, paucity of time, wider access to mobile telephony, more money...

Samsung Electronics Q2 profit drop misses estimates

2015-07-08 SAMSUNG Electronics on Tuesday flagged a second quarter drop in operating profit that missed analyst estimates after sales of its newest flagship smartphone failed to meet expectations. In an earnings estimate, the giant South Korean smartphone...

Jakarta steels for ‘Grexit’ impact

2015-07-08 INDONESIA is steeling itself for the economic impact of Greece’s potential exit from the eurozone, an event that could stall global recovery, hurt exports and create short-term volatility in the financial markets. A Greek exit from the European...

Tuesday, 7 July 2015

Chinese economy positive

2015-07-07 MULTIPLE economic indicators in recent months suggest the Chinese economy is over the worst as pro-growth and reform measures take effect, according to the National Bureau of Statistics (NBS). “Positive changes are occurring due to government...

Monday, 6 July 2015

Consumer confidence in Thailand falls further

2015-07-06 CONSUMER confidence in Thailand looks likely to continue its six-month slide after hitting a one-year low in June, according to the University of the Thai Chamber of Commerce."Many negative factors crimped consumer confidence in the economic...

China rolls out measures to avoid stock market crash

2015-07-06 China's stock markets face a make-or-break week after officials rolled out an unprecedented series of steps at the weekend to prevent a full-blown stock market crash that would threaten the world's second-largest economy.The government is anxiously...

Myanmar lets nine firms invest in July

2015-07-06 MYANMAR’S Investment Commission has allowed a total of nine more domestic and foreign firms to make investment in the country so far this month, an official report said yesterday.The approved businesses, in the form of locally owned, wholly-foreign...

Toshiba accounting errors may be over 100b yen

2015-07-06 TOSHIBA Corp may need to mark down past earnings by over 100 billion yen ($1.1 billion), more than double earlier estimates, after an ongoing investigation into past accounting practices found more irregularities, a source familiar with the matter...

World Bank removes critical section from China report

2015-07-06 THE World Bank has removed a critical portion from a recently released report on China’s economy, saying the section had not been adequately reviewed.On Wednesday, the Washington-based institution released its China Economic Update report in...

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