Business » Asia

Friday, 21 March 2014

PetroChina flags lower 2014 capex, seeks to boost returns

2014-03-21 PETROCHINA Co Ltd flagged on Thursday a drop in capital expenditure for 2014, its second consecutive annual decline since it became a listed company, as the state-run oil giant tries to reassure investors following a massive corruption scandal....

Japan ready to roll out more stimulus

2014-03-21 JAPAN stands ready to unleash further monetary and fiscal stimulus as needed to support the economy if the impact of a coming sales tax hike proves worse than expected, a senior government official said on Thursday.Japan’s economy is on a firm...

US fine delivers relief for Toyota

2014-03-21 TOYOTA Motor Corp, headed to a record profit, can afford the US$1.2 billion fine levied by the US government for hiding information about defects in its cars. If anything, the settlement may even deliver relief for Toyota shareholders and customers...

Four new budget carriers enter S Korea

2014-03-21 FOUR new budget carriers have received permission from the Korean government to start operations here, signalling increased competition in low-cost air travel.The South Korean Ministry of Land, Infrastructure and Transportation said Spring Airlines...

Thursday, 20 March 2014

India allows more banks to import gold

2014-03-20 INDIA has allowed five domestic private sector banks to import gold, in what industry officials say could be a significant step towards easing of tough curbs on the metal imposed last year to cut the country’s trade deficit. The move could boost...

Wednesday, 19 March 2014

International Talent Team targets one million tech professionals

2014-03-19 GLOBALLY expanding IT&T Recruitment Company, Talent International, has teamed up with Sir Richard Branson, Steve Wozniak, Joel Neoh and Patrick Grove to search for leading technology super stars in the 2014 Talent Unleashed Awards. The Talent...

Li’s Watson to raise up to $6b in June IPO: report

2014-03-19 ASIA’S richest man Li Ka-shing is planning to raise up US$6 billion ($7.8 billion) through a dual listing of his flagship retail chain in Hong Kong and London, a report said Tuesday, in what would be the world’s biggest initial public offering...

New Zealand Q4 growth maintaining solid momentum

2014-03-19 NEW Zealand’s economy looks to have ended last year on a strong footing thanks to high commodity prices and solid domestic activity, putting it on course for another year of rapid growth that should drive further central bank rate rises. The...

Tuesday, 18 March 2014

Toyota suspends Indian auto output after labour unrest

2014-03-18 TOYOTA said yesterday it has suspended production at its two Indian auto assembly plants in response to threats against management and “deliberate” assembly-line stoppages, as efforts to hammer out a labour deal failed.The world’s biggest automaker...

Takaful industry to see 2014 double digit growth

2014-03-18 THE takaful industry is expected to record double-digit growth this year from RM5.5 billion contributions last year, said Malaysia Takaful Association Deputy Chairman, Wan Azman Wan Mamat. Wan Azman said of the RM5.5 billion contributions last year...

DBS strikes deal with Societe Generale

2014-03-18 SINGAPORE’S DBS Bank said yesterday it had agreed to buy the Asian private banking business of French lender Societe Generale in a deal worth US$220 million, boosting its access to the region’s super rich.DBS said in a statement to the Singapore...

Monday, 17 March 2014

S'pore keen to promote regional yuan trade

2014-03-17 THE use of the Chinese yuan has soared in Singapore over the past year but there is still much to be done to promote its use across the region, a Monetary Authority of Singapore (MAS) official said yesterday.Leong Sing Chiong, the assistant...

Nikon criticised by China consumer watchdog show

2014-03-17 JAPAN’S Nikon Corp has moved to allay consumer fears in China after being criticised on a closely watched consumer show that said the camera maker had sold defective products in China and denied local consumers fair treatment in aftersales service...

Pakistan loses billions in bogus sales tax refunds

2014-03-17 IN CONNIVANCE with tax officials, bogus companies owned by influential fraudsters have received more than nine billion rupees (US$90 million) in sales tax refunds against bogus documents in the current fiscal year. These fraudsters are facilitated...

Alibaba picks US for IPO, in talks with 6 banks for lead roles

2014-03-17 CHINESE e-commerce giant Alibaba Group Holding Ltd has decided to hold its long-awaited IPO in the United States and is in discussions with six banks to underwrite the deal, in what is set to the most high-profile public offering since Facebook Inc...

Friday, 14 March 2014

Boeing in talks with India airlines on 737 MAX jet

2014-03-14 BOEING Co is in talks with Indian airlines Jet Airways and Air India about the sale of its 737 MAX jets, a Boeing executive told Reuters on Thursday, as the aircraft manufacturer raised its forecast for demand in India.Boeing now expects India’s...

Thursday, 13 March 2014

ADB punishes individuals, firms in US$1 billion fraud probe

2014-03-13 THE Asian Development Bank has imposed sanctions on 30 people and 31 firms for “integrity violations“, following a 2013 fraud investigation into US$1 billion ($1.3b) worth of projects it funded, the lender said.The ADB said it investigated a record...

MATRADE targets RM400m in Myanmar projects

2014-03-13 THE Malaysia External Trade Development Corp (MATRADE) targets RM400 million worth of construction projects in Myanmar for Malaysian companies. In a statement today, MATRADE said the projects include residential, commercial, industrial parks and...

IRIS plansto fortify presence in global IT sector

2014-03-13 IRIS Corp Bhd, the inventor of the global e-Passport and Malaysian smart card identification document MyKad, plans to fortify its global presence and boost its reputation as an innovative Malaysian company. Its Chief Executive Officer for the...

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