Business » Asia

Friday, 21 November 2014

Indonesia revises Islamic banking rules as growth slides

2014-11-21 INDONESIA’S regulator has issued revised Islamic banking rules covering asset quality and capital adequacy to help clarify market practices, while industry growth has now dropped to single-digits.Authorities want to encourage a wider product range...

Thursday, 20 November 2014

Jetstar counts cost of prolonged delay in Hong Kong take-off

2014-11-20 JETSTAR Hong Kong has sold six of its nine new Airbus A320s and many of its pilots have either quit or been redeployed - all before the budget airline’s first commercial flight.Nearly 18 months after the low-cost carrier, backed by Australia’s...

BoJ upbeat despite Japan recession

2014-11-20 THE Bank of Japan yesterday kept its upbeat economic view despite data showing the country had slipped into recession, which prompted Premier Shinzo Abe to delay a scheduled tax hike and call a snap election. Following a two-day meeting, the BoJ...

Shell wins major India tax case

2014-11-20 ANGLO-DUTCH energy giant Royal Dutch Shell has won a lengthy court battle against Indian tax authorities, marking a significant victory for multinationals involved in taxation wrangles in the country.The Bombay High Court ruled in favour of Shell,...

M’sia, S’pore urged to develop Asian LNG hub

2014-11-20 MALAYSIA and Singapore need to develop an Asian liquefied natural gas (LNG) hub as a platform to provide an economically sustainable energy solution to Asian countries. Chief Executive Officer of Singapore’s Pavilion Energy, Seah Moon Ming said the...

AirAsia profit plunges in Q3

2014-11-20 MALAYSIA-BASED AirAsia, the region’s biggest low-cost carrier by fleet size, said yesterday its third-quarter net profit plunged a year-on-year 85 per cent due mainly to higher financing costs.Net profit for the quarter ending September 30 was 5.4...

Risky rewards for China’s overseas investment boom

2014-11-20 CHINA’S inexorable economic rise is set to see it become a net global investor after decades of Western money flowing into the country, but analysts warn the change offers risks as well as profits.Chinese oil behemoth CNOOC’s US$15 billion...

M‘sian small business confidence lifts again in 2014

2014-11-20 SMALL business confidence in Malaysia continues to rise with the majority of small businesses expecting their business and the economy to grow over the next year. Global accounting body CPA Australia yesterday released the results of its sixth...

Wednesday, 19 November 2014

China’s US$350m bridge gets scant N Korean welcome

2014-11-19 THE bridge was supposed to be a key link for trade and travel between China’s underdeveloped northeast provinces and a much-touted special economic zone in North Korea — so key that Beijing sank more than US$350 million into it.Now, it is beginning...

Toyota to start sales of hydrogen-powered car

2014-11-19 THERE will only be a few hundred, and they won’t be cheap, but Toyota is about to take its first small step into the unproven market for emissions-free, hydrogen-powered vehicles.The world’s largest automaker announced yesterday that it will begin...

Tuesday, 18 November 2014

Singapore taxi firm Trans-cab pulls IPO

2014-11-18 SINGAPORE’S second-largest taxi operator Trans-cab said yesterday it was scrapping its planned initial public offering (IPO) three days before its shares were due to start trading.The company, which had been looking to raise around S$114.2 million...

Japan slips into surprise recession

2014-11-18 JAPAN’S economy unexpectedly slipped into recession in the third quarter, setting the stage for Prime Minister Shinzo Abe to delay an unpopular sales tax hike and call a snap election two years before he had to go to the polls.The recession comes...

Malaysia’s 1MDB files to list energy assets in US$3b IPO

2014-11-18 MALAYSIAN state investor 1 Malaysia Development Bhd (1MDB) took a big step towards a planned US$3 billion IPO for its power plant assets, filing a long-awaited application for a flotation that will reduce its huge debt burden, sources said.The...

Money flows to mainland as landmark HK stock link opens

2014-11-18   INTERNATIONAL buyers snapped up Chinese stocks yesterday at the debut of an exchange link that allows Hong Kong and Shanghai investors to trade shares on each other’s bourses, a major step towards opening China’s tightly controlled capital...

Monday, 17 November 2014

AirAsia: US$500m expansion in Philippines

2014-11-17 MALAYSIA’S AirAsia Berhad, one of the region’s biggest budget carriers, is investing another US$500 million to expand its Philippine operations should the group gain a long-delayed approval from Congress to consolidate its local business, its top...

China to cut 40 billion yuan a year in fees to spur business

2014-11-17 CHINA will cut roughly 40 billion yuan (US$6.5 billion) a year in taxes and fees as part of an effort to stimulate the slowing economy, the State Council said.Starting January 2015, the government will scrap 42 administrative fees and 12 business...

Saturday, 15 November 2014

China bank lending growth slows down in October

2014-11-15 CHINA’S banks slowed their lending in October, the central bank said yesterday, as authorities worked to rein in credit growth.Domestic banks extended 548.3 billion yuan (US$89.5 billion) in new loans, the People’s Bank of China (PBoC) said in a...

AirAsia ready to lower fares to stimulate market

2014-11-15   LOW-COST airline AirAsia says it is ready to lower its air fares to stimulate the market and contribute to greater passenger volume. AirAsia Group Chief Executive Officer Tan Sri Tony Fernandes said it would be a ‘huge bonus’ for the airline if...

Friday, 14 November 2014

Japan firms seek tax hike delay

2014-11-14 JAPANESE companies overwhelmingly want Prime Minister Shinzo Abe to delay or scrap a planned tax increase, a Reuters poll shows, highlighting concerns that it could derail a fragile economic recovery.As expectations grow that Abe will soon announce...

China Oct data shows economy cooling further

2014-11-14 CHINA'S economy lost further momentum in October, with factory growth dipping and investment growth hitting a near 13-year low, testing the government's resolve to avoid stronger stimulus measures.The soft performance cemented the view that China...

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