Business » Asia

Wednesday, 13 January 2016

China’s slowdown will hit Singapore hardest: ANZ warns

2016-01-13 THE slowdown in China will hit Singapore faster and harder than any country in the region, economists from Australian bank ANZ have warned.Other economists were not as dire in their prognoses, but agreed that the open nature of the local economy...

Philippines may import up to 1.2m tonnes off rice this year

2016-01-13 THE Philippines, one of the world’s top rice importers, is set to buy 400,000 tonnes of the grain for delivery in the second quarter, and may need an additional 800,000 tonnes to cover this year’s requirements, a grains agency official said.“This...

Don’t blame the economy for China’s latest market meltdown

2016-01-13   A RENEWED plunge in Chinese stock markets has stoked concerns among global investors about the health of the world’s second-biggest economy, but there is little evidence that the outlook for China has darkened dramatically in recent weeks....

ANA becomes Vietnam Airlines’ main partner

2016-01-13 JAPAN’S ANA Holdings said it plans to buy an 8.8 per cent stake in state-controlled Vietnam Airlines, becoming its main strategic partner in a deal that values the Southeast Asian carrier at about US$1.2 billion.The deal helps satisfy ANA’s...

Tuesday, 12 January 2016

Sri Lanka turns to mystery investor in bid to defend rupee

2016-01-12 AN UNIDENTIFIED investor has promised to park US$1 billion in dollar deposits in Sri Lanka to help the island nation defend its currency, the finance minister told Reuters, in an unusual move that highlights the country’s precarious finances....

Chinese group Wanda says revenue surged in 2015

2016-01-12 CHINESE conglomerate Wanda Group, owned by the country’s richest man, said revenue surged nearly 20 per cent in 2015, despite worsening economic conditions in its home market. Wanda, founded by Wang Jianlin, has its origins in commercial property...

Thai tourism revenue to hit US$66 billion in 2016

2016-01-12 THAI tourism revenue is forecast to grow nearly nine per cent in 2016 to touch 2.4 trillion baht (US$66.12 billion), the country’s tourism minister said yesterday, on the back of increased focus on visitors from the ASEAN region and domestic...

Moody’s cut Malaysia’s sovereign rating outlook

2016-01-12 MOODY’S cut Malaysia’s sovereign rating outlook to stable from positive yesterday, flagging risks from the Southeast Asian economy’s deteriorating growth profile as global trade and market conditions worsen. The ratings agency had assigned a...

ADB says global carbon trade could help Southeast Asia

2016-01-12 A GLOBAL carbon trading market could boost Southeast Asia’s efforts to combat climate change, the Asian Development Bank said yesterday.The region had the fastest growth in carbon dioxide emissions in the world from 1990 to 2010, and will continue...

Monday, 11 January 2016

Japan presses S’pore to ease restrictions on Fukushima imports

2016-01-11     JAPAN pressed Singapore to ease its ban on Fukushima food imports, following the European Union’s move to relax restrictions on imports from the area, according to media reports yesterday. Japanese agriculture minister Hiroshi Moriyama said...

China must cut corn prices to clear stockpile

2016-01-11 CHINA must lower corn prices to reduce its massive corn stockpile and curb imports of corn substitutes including barley, sorghum and distillers’ grain, state media quoted a senior agricultural official as saying.Chen Xiwen, deputy director of the...

Eyeing global domination, ‘Star Wars’ opens big in China

2016-01-11 “STAR WARS: The Force Awakens” has achieved the third best opening-day performance in China’s cinema history by raking in over US$30 million, according to Chinese box office tracking services yesterday. Opening three weeks after it took the United...

Saturday, 9 January 2016

Vietnamese central bank stops currency devaluation

2016-01-09 VIETNAMESE central bank yesterday adjusted down the central rate between Vietnamese dong (VND) and US dollar (USD), stopping the devaluation of the currency since the beginning of 2016.Accordingly, the State Bank of Vietnam (SBV) quoted the central...

Japan households' inflation expectations sag, tax incentives eyed

2016-01-09 FEWER Japanese households expect prices to rise in coming years compared with three months ago, a Bank of Japan survey showed, suggesting growing scepticism about the central bank's ability to accelerate inflation through its massive money printing...

ADB to work with AIIB

2016-01-09   THE Asian Development Bank (ADB) will cooperate with a major new Chinese-led multilateral lending institution and they plan to co-finance projects this year, the ADB’s president said yesterday. The Beijing-based Asian Infrastructure Investment...

Friday, 8 January 2016

Malaysian exports rise in November

2016-01-08 MALAYSIA’S exports in November rose at only half the pace anticipated, but economists said the country’s trade picture remains satisfactory given the weak state of global demand. Government data yesterday showed exports grew 6.3 per cent year-on-...

Singapore’s BOC Aviation orders 30 Airbus jets

2016-01-08 SINGAPORE-BASED aircraft leasing firm BOC Aviation said yesterday it has ordered 30 Airbus A320s worth more than US$3 billion at list prices to meet growing demand. The order, made at the end of December, comprises 18 A320s equipped with new...

China stocks trade suspended as 7% dive leads Asia sell-off

2016-01-08 CHINESE markets were suspended yesterday for the second day this week after they fell more than seven per cent, leading an Asia-wide sell-off as China weakened the value of the yuan currency by the most since August. In a painful echo of the...

Thursday, 7 January 2016

S Korea finc’l execs hold emergency meet after nuke test

2016-01-07 SOUTH KOREA’S financial authorities held a flurry of emergency meetings yesterday after North Korea said it successfully conducted a test of a hydrogen nuclear device, which sent the South’s stocks and won lower. “The effect on financial markets...

Nissan says China 2015 sales up 6.3 per cent year-on-year

2016-01-07 NISSAN Motor Co Ltd and its Chinese joint venture partner sold 1.25 million vehicles in China in 2015, up 6.3 per cent from the previous year, the Japanese car maker said yesterday. In December, Nissan sold 159,100 vehicles, up 15 per cent from a...

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