Business » Asia

Thursday, 11 June 2015

‘China’s economy to pick up in next six months’

2015-06-11 ECONOMISTS at China’s central bank have sharply lowered their inflation forecast for 2015, while predicting a pick up the world’s second-biggest economy during the next six months thanks to more stable home prices and firmer foreign demand.In a...

Tech giant Baidu to develop driverless car

2015-06-11 CHINESE search engine giant Baidu plans to develop a driverless car, according to domestic media reports, following in the footsteps of fellow technology firm Google.Several Chinese technology firms, including e-commerce company Alibaba and WeChat...

Swiber redeems S$95 million bond

2015-06-11 SWIBER Holdings has redeemed in full its S$95 million (US$70.2 million) 6.25% three-year bond due to mature on June 8.An announcement on Monday said the redemption would not have a material impact on the company’s net tangible assets or earnings...

Ringgit ‘unlikely’ to return to rate peg

2015-06-11 MALAYSIA’S central bank is unlikely to reinstate the exchange-rate peg it imposed during the Asian financial crisis, even though the ringgit is sliding fast to levels seen against the greenback then, economists said on Tuesday.The currency slid to...

Indonesia’s new roadmap for Islamic finance boost

2015-06-11 INDONESIA’S capital market regulator has published a five-year strategy for the Islamic finance industry, its latest effort to shake the sector out of its niche status in the world’s most populous Muslim country.The roadmap from Indonesia’s...

Wednesday, 10 June 2015

US hedge fund asks Seoul court to stop Samsung takeover deal

2015-06-10 A US hedge fund is challenging a takeover deal between Samsung companies designed to ensure control of the conglomerate passes to the grandson of its founder.Elliott Associates LP, a US hedge fund that is the third-largest shareholder in a Samsung...

Sony to boost image sensor sales

2015-06-10 SONY Corp aims to diversify its client base for image sensors beyond top customer Apple Inc, even as it expects orders from the iPhone maker to help lift sales about 20 per cent this fiscal year, a senior executive said yesterday.Sensors have...

Asian markets sink amid US, Europe concerns

2015-06-10 ASIAN markets fell yesterday, with Shanghai and Hong Kong hit by another weak batch of indicators, but the euro was supported by upbeat German trade data.Wall Street provided a negative lead as last week’s strong jobs report fanned expectations...

Rupiah won’t be part of currency war: Indonesia

2015-06-10 INDONESIA’S central bank said yesterday there is a risk of a global currency war as the US dollar gains strength but the rupiah will not be involved.Peter Jacobs, Bank Indonesia spokesman, said the central bank will maintain the exchange rate of...

China to have ‘veto power’ over AIIB: report

2015-06-10 CHINA will ultimately have “veto power” over major decisions of the new Beijing-led Asian Infrastructure Investment Bank, the Wall Street Journal reported yesterday.The AIIB, which will be based in the Chinese capital, has 57 prospective members,...

HSBC to reduce 50,000 jobs as part of overhaul

2015-06-10 SCANDAL-HIT bank HSBC said yesterday it would cut its global headcount by up to 50,000 as part of a restructuring that entails its withdrawal from Brazil and Turkey, while it also mulls abandoning London as its headquarters.In a statement to the...

China’s May inflation falls to1.2 per cent

2015-06-10 CHINESE inflation fell to 1.2 per cent in May, data showed yesterday, the latest sign that growth in the world’s number two economy is stalling and suggesting more monetary easing may be on the way.The consumer price index (CPI), the main gauge of...

Ringgit slide temporary, says Malaysia’s central bank

2015-06-10 MALAYSIA’S central bank said yesterday the weakness in the ringgit is expected to be temporary, after the currency slid to nine-year lows.“The ringgit’s fall to levels seen during the Asian financial crisis is not reflective of Malaysia’s economic...

Tuesday, 9 June 2015

Japan economy gains speed, grows at 3.9% pace in January-March

2015-06-09 JAPAN’S economy grew at a faster pace than initially estimated in the January-March quarter on stronger consumer and corporate spending, though economists anticipate slower growth in April-June.The 3.9 per cent annualised growth rate announced...

Oil prices fall as Chinese crude imports tumble

2015-06-09 CRUDE oil prices fell on Monday as China’s oil imports dropped sharply and markets were expected to be increasingly oversupplied following OPEC’s decision to keep its production targets unchanged.China, the world’s biggest net oil importer, bought...

Ex-banker is new CEO of Singapore Exchange

2015-06-09 SINGAPORE Exchange Ltd (SGX) appointed veteran banker Loh Boon Chye as its chief executive to lead a revival after it was hit by falling trading volume and technical glitches.Loh, 51, quit as head of Asia-Pacific global markets at Bank of America...

Saturday, 6 June 2015

Alibaba puts in new application to invest in Taiwan

2015-06-06 CHINESE e-commerce giant Alibaba Group Holding Ltd has put in another application to invest in Taiwan under rules for mainland-backed companies, a Taiwanese regulator said Friday.Alibaba submitted its new application a month ago and it is currently...

Asian cities dominate most visited places list

2015-06-06 ASIAN cities dominated the list of top 10 global destinations index, with Singapore being the seventh most visited city ahead of Seoul and Hong Kong but lagging way behind second-placed Bangkok.The annual index released Thursday ranked Singapore...

Friday, 5 June 2015

Mazda recalls 75k cars in Japan after Takata expands US recall

2015-06-05 MAZDA Motor Corp on Thursday filed a recall for 75,000 cars in Japan to replace air bag inflators made by Takata Corp after the Japanese supplier was ordered to expand a multi-million-vehicle recall in the United States.Of that, about 38,000 had...

Singapore fuel oil trade hits fresh record high volume

2015-06-05 THE daily volume of fuel oil traded during the pricing process in Singapore hit a record high on Thursday, traders said. A total of 726,000 tonnes of fuel oil were traded during Platts’ - a McGraw Hill Financial unit - Market on Close (MOC)...

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