Business » Asia

Friday, 22 August 2014

Beijing’s land prices hit record despite housing downturn

2014-08-22 AUTHORITIES in China’s capital sold a plot of land at a record 7.46 billion yuan (US$1.2 billion) on Wednesday, despite analysts belief that a general downtrend in the property market is worsening. Located in the west of central Beijing, the plot...

China taps Korea for ideas in Qualcomm case

2014-08-22 CHINESE antitrust officials have met with their South Korean counterparts to discuss violations by US chipmaker Qualcomm Inc, sources said, as Beijing reaches out to regulators overseas to complete a case that could result in record fines at home....

Thailand to delay US$1.94b Bangkok airport expansion

2014-08-22 AIRPORTS of Thailand Pcl , the country’s largest airport operator, said on Thursday it has delayed a US$1.94 billion expansion plan at Bangkok’s Suvarnabhumi airport pending a review by the military government.After seizing power in May, the...

Thursday, 21 August 2014

China investments in M’sia to top US$1b

2014-08-21 APPROVED investments from China into Malaysia are expected to exceed US$1 billion this year from more than US$900 million last year, said Embassy of the People’s Republic of China to Malaysia economic counsellor Wu Zhengping.“Establishments such as...

AirAsia profits up despite difficult times

2014-08-21 MALAYSIA-BASED AirAsia on Wednesday announced a sixfold increase in second-quarter net profit as Asia’s budget travel leader increased revenue despite what it called a “challenging” aviation environment. Net profit was 367.2 million ringgit (US$...

Japan looks to Indonesia for poultry supplies after China food scandal

2014-08-21 INDONESIA and Japan are in talks to resume poultry shipments from the Southeast Asian nation after a 10-year stoppage, an Indonesian government minister said on Wednesday, with any agreement likely to be worth an initial IUS$200 million per year....

Thai economic growth may be lower

2014-08-21 THAILAND’S economic growth may be slightly lower than previously expected this year due to delays in government spending, minutes from the central bank’s last meeting showed on Wednesday.But the minutes also noted that “private investment and...

Wednesday, 20 August 2014

Study: Malaysian banks ‘not serious’ with compliance

2014-08-20 MANY Malaysian banks are not fully leveraging on technology and are not taking security and security compliance seriously, Tenable Network Security Inc, the leader in continuous network monitoring, said. Its Asia Pacific vice-president, Attley Ng...

MAS delays earnings report

2014-08-20 MALAYSIA Airlines (MAS), the loss-making carrier reeling from two separate aircraft disasters this year, has postponed publication of second-quarter earnings from Wednesday until Aug 28, a company official told Reuters on Tuesday.The official didn’...

AirAsia not buying Skymark: CEO

2014-08-20 Samsung buys U.S. air conditioner firm Quietside in “smart home” pushSEOUL, Aug 19 (Reuters) - Samsung Electronics Co Ltd said on Tuesday it had acquired U.S. air conditioner distributor Quietside LLC as part of its push to strengthen its “smart...

Tuesday, 19 August 2014

Mercedes-Benz guilty of price abuse, China says

2014-08-19 CHINA’S government said Monday it has concluded Mercedes-Benz violated anti-monopoly law and charged excessive prices for parts, adding to a growing number of global automakers snared in an investigation of the industry.The luxury unit of Germany’s...

In Brief

2014-08-19 Thailand avoids recession in second quarter BANGKOK: Thailand dodged recession as its economy grew 0.9 per cent in the second quarter, data showed Monday, after the military ended months of political deadlock with a coup and promised to unshackle...

Indonesia eyes Islamic finance perks

2014-08-19 A BLUEPRINT being drawn up for Indonesia’s Islamic finance industry may include incentives to help revive the domestic market for sukuk (Islamic bonds), the capital market regulator said.Indonesia’s financial services authority, Otoritas Jasa...

OCBC to boost capital

2014-08-19 OVERSEA-CHINESE Banking Corp, Singapore’s second-biggest lender, plans to raise US$2.7 billion from existing shareholders to boost capital after it acquired Hong Kong’s Wing Hang Bank Ltd, and said it may look at more fund-raising.The plan will...

China meat scare a boon for Thai firm

2014-08-19 BUSINESS is booming at Charoen Pokphand Foods Pcl (CPF), Thailand’s biggest meat and animal feed producer, especially now it has won orders for chicken products from McDonald’s Holding Co (Japan) after a food scare in China.The Asian food giant is...

Samsung to build phone factory in Indonesia

2014-08-19 SOUTH Korea’s Samsung Electronics Co Ltd said on Monday it plans to set up a factory to produce mobile phones mainly for Indonesia, one of the world’s fastest growing markets for the devices. The company, which already has factories in China and...

Monday, 18 August 2014

Japanese mobile carrier still eyeing acquisitions

2014-08-18 JAPANESE mobile carrier SoftBank’s failed bid for T-Mobile marked a rare defeat for its brash billionaire founder, but few expect it to sideline a man intent on building “the world’s number-one company”. After years of scooping up companies big...

Saturday, 16 August 2014

Malaysia Q2 GDP expands 6.4 %

2014-08-16   MALAYSIA’S economy grew 6.4 per cent in the second quarter, faster than expected, as exports kept up their strong performance and consumer spending stayed buoyant despite steps by the central bank to curb high household debt levels. The...

Hong Kong cuts 2014 forecast

2014-08-16 Hong Kong yesterday cut its economic growth forecast for 2014 after an unexpected slowdown in second quarter expansion blamed on a fall-off in tourist spending and a slowdown in domestic demand.Gross domestic product grew 1.8 per cent in the three...

Samsung to buy US tech firm SmartThings

2014-08-16 SAMSUNG said yesterday it had reached a deal to buy a US home automation startup SmartThings, as the South Korean electronics giant aims to expand beyond the increasingly saturated smartphone market. The world’s top smartphone maker said it had...

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