Tuesday, 7 June 2016

South Korea calls for Nissan to face charges over emissions

2016-06-07 SOUTH Korea has called for car giant Nissan to face criminal charges for allegedly manipulating emissions data on a popular sports utility vehicle, weeks after Seoul slapped the firm with a fine over the issue.The environment ministry called on...

Saudi cabinet approves economic diversification plan

2016-06-07 THE Saudi cabinet has approved a major plan to diversify the national economy away from oil and aiming to generate 450,000 non-government jobs by 2020.The National Transformation Programme (NTP) 2020, endorsed by cabinet late Monday, also seeks to...

Apple sells 30-year bond in Taiwan at 4.15% yield

2016-06-07 APPLE Inc sold a 30-year US dollar bond in Taiwan at a yield of 4.15 per cent, sources said yesterday, aiming to raise between US$1 billion and US$1.2 billion in the first issue of debt by the US technology giant on the island that is home to major...

Singapore: Shoppers paradise lost?

2016-06-07 AFTER serving only a handful of customers in five hours on a recent weekday, Sam Goh said he was worried the sportswear shop he manages, LIV ACTIV, will eventually join other brands in leaving Singapore’s Orchard Road shopping boulevard. Singapore...

Monday, 6 June 2016

Beijing’s silent prayer on Brexit vote: better in than out

2016-06-06 WHILE some world leaders have trumpeted support for Britain to stay in the European Union in this month’s referendum, China has kept a low profile. But with an important stake in the economic consequences, Beijing also quietly wants the “remain”...

Treasury Secretary says excess capacity corrosive for China growth

2016-06-06 CHINA’S excess industrial capacity will have a “corrosive” impact on its future growth and efficiency unless it is reduced, US Treasury Secretary Jack Lew said yesterday, adding that it was also causing distortions in global markets. Lew, speaking...

Honeywell sees huge potential in internet of things

2016-06-06 GLOBAL equipment manufacturer Honeywell International Inc sees China as a key market in the evolution of the industrial internet of things (IoT), according to the company’s top executives who said the group can play a leading role in its...

Penang’s lively property market

2016-06-06 WHILE the property market in Malaysia may be subdued, Penang is still generating interests among buyers and potential investors. Raine & Horne Malaysia senior partner Michael Geh says: “Although sentiment is generally cautious, both interest...

Saturday, 4 June 2016

Vietnam targets 6.8% economic growth in 2017

2016-06-04 VIETNAM is targeting economic growth of 6.8 per cent in 2017, up slightly from 6.7 per cent expected this year, the government said.Vietnam’s economy grew 6.68 per cent in 2015, the fastest pace since 2007, fuelled by manufacturing and record...

Hyundai Motor plans luxury electric car under Genesis brand

2016-06-04 SOUTH Korean automaker Hyundai Motor Co plans to launch a luxury all-electric vehicle under its Genesis marque to build out the lineup of its new premium brand, Senior Vice President Manfred Fitzgerald said.“We will definitely go as Genesis brand...

Philippines may widen debt borrowings, cut income tax to fuel growth

2016-06-04 THE Philippines’ incoming finance minister Carlos Dominguez says he is open to diversifying the country’s borrowings to fund infrastructure projects and will push for a cut in income taxes to keep the Southeast Asian country on track for growth....

Jaguar Land Rover sues copycat

2016-06-04 JAGUAR Land Rover is suing Chinese automaker Jiangling Motor for allegedly copying the British firm’s Range Rover Evoque, a person with direct knowledge of the matter said - a rare move by a foreign automaker to fight copycats in the world’s...

Aircraft leasing now very lucrative business

2016-06-04 AIRCRAFT leasing is likely to become a US$245 billion market by 2021.AirAsia Bhd group chief executive officer Tony Fernandes is riding on the exuberance of the aircraft leasing business to ponder on a deal worth US$1 billion for its wholly-owned...

Friday, 3 June 2016

Early days, but Apple Pay struggles outside US

2016-06-03 MORE than 18 months after Apple Pay took the United States by storm, the smartphone giant has made only a small dent in the global payments market, snagged by technical challenges, low consumer take-up and resistance from banks. The service is...

Thursday, 2 June 2016

Ahead of meeting, OPEC seems close to riding out price slump

2016-06-02 OPEC is not yet in safe harbour. But ahead of a top-level meeting, the 13-nation oil cartel appears close to weathering the storm of slumping crude prices that threatened to bankrupt some members and called into question its relevance. After...

China new home prices grow at fastest rate in two years

2016-06-02 NEW home prices in China grew at their fastest pace in more than two years in May, a private survey showed, signalling the recovery of a crucial sector in the world’s second-largest economy.After fuelling much of China’s spectacular growth in...

Apple plans to sell US$1b of 30-year bonds in Taiwan

2016-06-02 APPLE Inc plans to issue bonds in Taiwan for the first time with the aim of raising US$1 billion, sources familiar with the matter said, joining a queue of big global names that have sold billions of dollars on the island’s busy debt market.The US...

Microsoft sells 1,500 patents to Xiaomi

2016-06-02 SOFTWARE maker Microsoft Corp is selling about 1,500 of its patents to Chinese device maker Xiaomi, a rare departure for the US company and part of what the two companies say is the start of a long-term partnership.The deal, announced on Wednesday...

Asia’s factories slog against weak demand in May

2016-06-02 FACTORY activity in Asia failed to speed up in May as the region’s export-driven businesses struggled for new orders in a slow global economy, surveys released on Wednesday showed. Output in China, the world’s second largest economy, barely...

Australia’s economy powers ahead on exports in Q1

2016-06-02 AUSTRALIA’S economy defied market forecasts with stronger-than-predicted expansion in January-March, driven by net exports and household spending, strengthening expectations interest rates will remain on hold for some months.Economic growth...