Business » Asia

Tuesday, 2 September 2014

Need insurance cover against hotpot burns and smog?

2014-09-02 YOUR child throws a tantrum and smashes something? Take out “naughty child insurance”. Similarly, buy cover against your bride becoming pregnant before the honeymoon, your team being knocked out of the soccer World Cup, burning your tongue eating...

Monday, 1 September 2014

Indonesia gov’t tackles fuel subsidy

2014-09-01 JUST weeks before Joko Widodo takes office, a ham-fisted attempt by the state energy firm to tackle huge fuel subsidies has sparked panic buying and highlighted the most pressing economic issue confronting Indonesia’s next president.The subsidies...

China carbon market to start in 2016

2014-09-01 CHINA plans to roll out its national market for carbon permit trading in 2016, an official said yesterday, adding that the government is close to finalising rules for what will be the world’s biggest emissions trading scheme.The world’s biggest-...

Indian banks’ bad loan levels not ‘scary’

2014-09-01 THE level of bad loans at Indian banks is a “concern” but is not “scary“, Reserve Bank of India (RBI) Governor Raghuram Rajan said in a newspaper interview published yesterday.A prolonged economic slowdown has hit Indian banks’ balance sheets, with...

Saturday, 30 August 2014

Chinese e-commerce rivals challenge Alibaba

2014-08-30 CHINA’S biggest property developer, Wanda Group, and Internet giants Baidu and Tencent unveiled a new e-commerce venture Friday in a challenge to industry leader Alibaba Group ahead of its US stock offering.The three companies said they will...

Malaysia Airlines to slash 6,000 jobs

2014-08-30 MALAYSIA Airlines will slash thousands of staff, trim its route network, and replace its CEO under a plan announced Friday to stave off bankruptcy after two air tragedies plunged the already troubled carrier deeper into crisis. State investment...

Indonesia’s rice-for-poor scheme test to new president

2014-08-30 INDONESIA’S powerful anti-graft agency will launch a probe into the nation’s subsidised rice scheme unless major flaws are fixed, threatening moves to expand the role of the state food buying agency into other staples such as corn, beef and sugar....

China productivity goes negative

2014-08-30 CHINESE productivity growth has gone into reverse for the first time since the Cultural Revolution tore the country apart in the 1970s, according to a new study, highlighting the failure of recent reforms to set China on a sustainable development...

Malaysia’s Petronas unexpectedly shuts secondary refining unit

2014-08-30 MALAYSIA’S Petronas is running the 100,000 barrels-per-day (bpd) Malacca refinery it jointly owns with US oil company Phillips 66 at a lower rate than usual after unexpectedly shutting a secondary unit.The state-owned company shut a desulphuriser...

Friday, 29 August 2014

India urges millions of poor to open bank accounts

2014-08-29 INDIA’S state-owned banks are conducting a massive campaign to open millions of accounts for poor Indians who are off the financial grid and vulnerable to black market money lenders. Tens of thousands have already lined up to open accounts since...

Philippine economy rebounds, joins Asia’s top

2014-08-29 THE Philippine economy rebounded to post 6.4-per cent growth in the second quarter and regain its status as one of the strongest in Asia, authorities said Thursday.The private sector took the lead as the Philippine economy recovered from a...

Malaysia Airlines loss nearly doubles on MH370 impact

2014-08-29 CRISIS-STRICKEN Malaysia Airlines said Thursday its second-quarter loss nearly doubled as the loss of flight MH370 spurred a decline in bookings, warning the red ink would accelerate as the year wears on.The flag carrier said it posted a 305.7...

Thailand revamps fuel pricing to correct diesel-gasoline imbalance

2014-08-29 THAILAND’S military government has revamped its domestic fuel pricing mechanism, resulting in a reduction in gasoline prices and an increase in diesel prices, the Energy Policy and Planning Office (EPPO) said on Thursday.The restructuring is aimed...

Samsung, LG unveil new smartwatches

2014-08-29 SOUTH Korea’s Samsung and LG unveiled new smartwatches Thursday with upgraded functions and design as they step up their drive to lead an increasingly competitive market for wearable devices.The “Gear S” is Samsung’s first smartwatch able to make...

Thursday, 28 August 2014

Indonesia may revoke contracts of 17 coal miners

2014-08-28 INDONESIA may revoke the contracts of 17 coal miners that owe royalties to the government, including PT Arutmin Indonesia, a unit of PT Bumi Resources Tbk, the director general for coal and minerals said on Wednesday.The potential termination of...

Philippines eyes new deal for 500k tonnes rice imports

2014-08-28 THE Philippines is considering re-issuing a buy tender or doing a government-to-government deal for its rice import requirement of up to 500,000 tonnes, after rejecting all offers in a tender that closed on Wednesday because the prices were too...

Vietnam Airlines to raise US$70m in delayed IPO

2014-08-28 VIETNAM Airlines is in talks with several partners to sell a 20 per cent stake after it launches an initial public offering to raise 1.5 trillion dong (US$70 million) later this year, ahead of a stock listing that could be overseas, it said on...

Phone maker hails new era for India

2014-08-28 THE maker of a new US$33 smartphone billed as India’s cheapest said Wednesday it aims to sell half a million in the next three months in what it called a “new era” for the market.Indian mobile phone maker Intex has teamed up with California-based...

Thai exports drop cloud growth outlook

2014-08-28 THAI exports unexpectedly slipped in July, showing that a key pillar of the country’s economy remains weak at a time the military government is trying to rev up growth. Exports declined 0.85 per cent from a year earlier, Commerce Ministry data...

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