Business » Asia

Monday, 10 August 2015

ASEAN Business Club holds dialogue with Vietnam PM

2015-08-10 THE ASEAN Business Club (ABC) hosted a special dialogue with H.E. Nguyen Tan Dung, Prime Minister of Vietnam yesterday in Putrajaya, Malaysia in conjunction with his official two-day visit to Malaysia. Aimed at strengthening trade relations...

Saturday, 8 August 2015

Malaysia reserves fall as ringgit slumps

2015-08-08   MALAYSIA’S international reserves have fallen significantly below the US$100 billion threshold as the central bank struggles to slow declines in Asia’s worst-performing currency in the face of a protracted political crisis. Currency reserves...

Bank of Japan holds fire on stimulus

2015-08-08 THE Bank of Japan held fire on a fresh round of stimulus yesterday, despite weak inflation that has defied its more than two-year-old monetary easing programme. In a widely expected decision, the central bank said it would stand pat on a record 80...

To peg or not to peg the ringgit?

2015-08-08 AS MALAYSIANS anxiously watch the ringgit heading south, businessmen have begun debating whether the 1998 pegging formula can work its magic again.   Some are all for the move, which was credited to have halted Malaysia’s economic decline during...

Ringgit hits 17-year low vs US dollar

2015-08-08   THE ringgit hit another pre-peg 17-year yesterday, hours before the release of Malaysian foreign-exchange reserves data that will be closely watched. If the reserves drop further, that could increase concern about how much ammunition the...

Friday, 7 August 2015

S’pore’s BreadTalk tries to rise above scandal

2015-08-07 AMID consumer backlash, Singapore-based bakery chain BreadTalk has come out to defend the freshness of its main products - bread, buns and cakes.After news broke on Monday that the 46-outlet chain's “freshly prepared” soya milk drink was in fact...

Indonesia eyes 7% increase in rice output despite El Nino

2015-08-07 INDONESIA is expecting a seven per cent increase in rice output in 2015 despite dry weather due to the El Nino phenomenon this year, Agriculture Ministry officials said on Thursday, as the government discussed emergency measures to support farmers....

S Korean president vows to push labour reform, ease unemployment

2015-08-07 SOUTH Korean President Park Geun-Hye on Thursday vowed to push through labour reforms to ease growing youth unemployment at what she termed a “make or break” moment for Asia’s fourth-largest economy.Roughly halfway through her single, five-year...

Japan pledges US$2b loan to the Philippines

2015-08-07 JAPAN has pledged about US$2 billion in soft loans to upgrade the Philippines’ crumbling railway system in Tokyo’s biggest ever support for any Filipino project, Manila said Thursday. The 240 billion-yen package is a signal of increasing...

Taiwan’s HTC posts biggest ever quarterly loss

2015-08-07 TAIWAN’S struggling smartphone maker HTC suffered its biggest ever quarterly loss in the three months to June, as sales of its high-end products plunged, it announced Thursday. The firm swung to a loss of Tw$8.0 billion (US$253.2 million) in the...

Thursday, 6 August 2015

Thailand bad debts spread from retail to small firms

2015-08-06 HOPES that bad debts in the Thai financial system may have peaked this year are fading as more small companies and medium-sized enterprises default on their bank loans, hit by slowing domestic consumption and falling exports, particularly to China....

Wednesday, 5 August 2015

Ringgit still under pressure

2015-08-05 AT 3.85 ringgit to the US dollar, the selling pressure on the ringgit remains unabated on the back of two probable developments. First, the widely speculated put option that traders had gone into a few months ago offering four ringgit for every US...

South Koreans pile into gold

2015-08-05 SOUTH Koreans are on course to buy a record amount of gold in 2015, worried that a meltdown in China’s stock markets will destabilise South Korean equities and keen to replenish a traditional store of value in an era of low interest rates. In...

Suitors cautiously eye Malaysia’s 1MDB power assets

2015-08-05 AT LEAST half a dozen suitors have bid for energy assets of Malaysia’s debt-laden state fund 1Malaysia Development Bhd (1MDB), despite it being at the centre of the country’s ongoing political crisis, according to four people familiar with the...

Interest-rate corridor framework for Philippines

2015-08-05 THE Philippine central bank plans to use an interest-rate corridor framework in setting monetary policy starting next year to better manage liquidity in the financial system, a central bank official said on Tuesday. Describing it as a “major...

Modi backtracks on pro-business land bill

2015-08-05 INDIAN Prime Minister Narendra Modi has agreed to drop politically unpopular clauses from a pro-business land bill, a move that will fuel worries among investors that the slow pace of economic reforms is hurting long-term growth prospects.Tussles...

Tuesday, 4 August 2015

Asian markets down as China manufacturing slows

2015-08-04 ASIAN markets fell yesterday as China shares were dragged down by poor manufacturing figures and investors followed a drop on Wall Street.A private survey of Chinese manufacturing activity showed a decline to a two-year low in July, suggesting the...

China to restrict drone export

2015-08-04 CHINA will restrict the export of drones and supercomputers from August 15 to help protect national security out of fears such equipment could fall into the hands of militant groups, state news agency Xinhua said on Monday. While its technology...

Son demotes dad in battle for control of Lotte

2015-08-04 A FAMILY battle for control of South Korea’s largest retailer has erupted in public after the group’s 92-year-old founder was demoted to a powerless role in the business by his youngest son.Shin Dong-bin, 60, has been trying to solidify his control...

HSBC exits Brazil market

2015-08-04 HSBC has agreed to sell its Brazilian business to local group Banco Bradesco, the British banking giant announced on Monday alongside news of a fall in net profits. Profit after tax fell 3.8 per cent to US$4.36 billion in the second quarter...

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