Business » Asia

Tuesday, 10 February 2015

In Brief

2015-02-10 Malaysian PM appoints new Petronas CEOKUALA LUMPUR: Malaysian Prime Minister Najib Razak on Monday appointed Wan Zulkiflee Wan Ariffin as the new president and chief executive officer of state oil firm Petroliam Nasional Bhd from April, state news...

India’s economy forecast to grow 7.4%

2015-02-10 INDIA forecast its economy will accelerate 7.4 per cent this financial year, data showed Monday, under a revised formula for calculating gross domestic product that has baffled analysts since its release last month.The economy will grow 7.4 per...

Monday, 9 February 2015

China’s deepsea gas find holds over 100 bcm reserves

2015-02-09 A DEEPSEA natural gas discovery in the northern part of the South China Sea has certified proven reserves exceeding 100 billion cubic metres, making it one of China’s biggest offshore finds, Chinese state television reported.Offshore oil and gas...

Thai jobs market contracted in 2014: ILO

2015-02-09 THAILAND’S employment contracted by 691,000 last year in the face of a sluggish economy and a notable decline in the number of men working in agriculture and construction, according to the International Labour Organisation (ILO).The ILO released...

China January trade surplus at record high as exports slump

2015-02-09 CHINA’S monthly trade surplus rose 88 per cent to reach a record 367 billion yuan (US$59 billion) in January, as the country’s imports plunged and exports fell sharply on sluggish demand, data said Sunday. Exports from the world’s second-largest...

EU trade deal boosts Pakistan exports by US$1b

2015-02-09 PAKISTANI exports to the European Union increased by more than a billion US dollars after a landmark trade deal last year which made its products more competitive, the commerce minister told AFP.The EU signed a law in late 2013 granting Pakistan so...

Australian windfarms face US$13b wipeout

2015-02-09 AUSTRALIA faces a AU$17 billion (US$13.3 billion) exodus of investment from its windfarm industry because of a political deadlock, threatening to deal the country a major economic blow and kill hopes of meeting a self-imposed clean energy target....

Friday, 6 February 2015

Indonesia growth at 5-year low, focus now on Widodo

2015-02-06 INDONESIA’S economy expanded at its slowest pace for five years in 2014, official data showed Thursday, hit by political uncertainty and weak exports, putting pressure on the country’s new president to deliver much-needed reforms. Southeast Asia’s...

KL meet to find solution to fall in world rubber prices

2015-02-06 KUALA Lumpur will play hosts to eleven ministers from rubber producing countries in May to find a solution to the decline in world rubber prices.Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas said the ministers would...

Consumer confidence index in Thailand falls in January

2015-02-06 CONSUMER confidence in Thailand fell in January from an 18-month high, a university survey showed on Thursday, as worries about the global and domestic economy offset benefits from lower gasoline prices.The consumer confidence index of the...

Wary of sanctions, North Korea woos money-laundering watchdog

2015-02-06 NORTH Korea, long accused by the US and others of engaging in counterfeiting, drug trafficking and even online gambling scams, is trying to repair its international image by courting a little-known but influential body that fights money laundering...

Oil drops more than US$1 after crashing on inventory concerns

2015-02-06 OIL prices fell more than US$1 on Thursday, extending big losses in the previous session as record high inventories in the US coupled with concerns over global demand had cut short a four-day rally.Oil markets remain highly vola-tile, with US crude...

China markets welcome central bank easing but hunger for more

2015-02-06 CHINESE stocks shot up more than two per cent on Thursday before paring gains and money rates eased after the central bank injected more money into the sys-tem to spur bank lending and support the world’s second-biggest economy.The yuan also dipped...

Thursday, 5 February 2015

AIA, Pru among bidders for DBS distribution deal

2015-02-05 AIA Group Ltd, Prudential plc and Manulife Financial Corp are among firms shortlisted to become the insurance partner of Singapore’s DBS in a bank distribution deal worth around US$1.5 billion, people familiar with the matter said.DBS’s...

China services sector Jan growth slows down

2015-02-05 CHINA’S services sector grew at the slowest pace in six months in January as growth in new business weakened, a private survey showed, raising expectations that policymakers may unveil more stimulus steps to avert a sharper slowdown in the world’s...

Sony trims net annual loss forecast

2015-02-05 JAPAN’S Sony Corp said its net annual loss will likely be smaller than previously forecast after cost cuts and strong sales of its image sensors and PlayStation video game consoles helped its third-quarter profit beat estimates.The consumer...

Toyota raises full-year profit forecast

2015-02-05 THE world’s biggest automaker Toyota yesterday raised its full-year net profit forecast to a record US$18.1 billion, citing a weak yen, cost cuts and strong demand in the key North American market. The Japanese firm, maker of the Corolla and Prius...

Credit guarantees gain traction in Islamic finance

2015-02-05 CREDIT guarantees are gaining traction in Islamic finance, helping a wider range of firms to tap the market for Syariah-compliant debt, which remains stubbornly reliant on sovereign and quasi-sovereign issuers.A growing number of guarantors are...

Drones deliver tea in China

2015-02-05 ECHOING US online retailer Amazon, Chinese e-commerce giant Alibaba yesterday tested its first drone delivery service, promising to whisk ginger tea to customers within an hour despite tight controls on airspace.Alibaba’s flagship consumer-to-...

China cuts reserve ratio to boost lending

2015-02-05 CHINA’S central bank said yesterday it would make an across-the-board cut in the percentage of funds banks must hold in reserve, the first such cut in nearly three years as the world’s second-largest economy falters.The People’s Bank of China said...

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