Saturday, 13 August 2016

IN BRIEF

2016-08-13 Aussie official rejects criticisms of China banCANBERRA: Australia’s treasurer on Friday rejected accusations that the true reason his government plans to ban Chinese bidders from leasing a Sydney electricity grid is to appease influential...

India gives diesel vehicles reprieve in Delhi

2016-08-13 INDIA’S Supreme Court handed a reprieve to the auto industry on Friday, ruling that new diesel vehicles can be allowed on the streets of the national capital as long as a one per cent “green” tax is paid.The news was welcomed by the auto industry...

Japan searches for 8 missing Chinese

2016-08-13 JAPANESE coast guard ships searched Friday for eight missing Chinese crewmembers after rescuing six others from a fishing boat that collided with a cargo ship off disputed islands in the East China Sea, government officials said.The boat apparently...

S Korea president pardons over 4,000 to mark holiday

2016-08-13 SOUTH Korean President Park Geun-hye on Friday granted pardons to 4,876 people ahead of next week’s Liberation Day holiday, including the chairman of CJ Group, the country’s 15th largest conglomerate by assets.Lee Jay-hyun, the ailing 56-year-old...

Friday, 12 August 2016

VW Korea head apologises, questioned on emission fraud

2016-08-12 THE head of Volkswagen’s South Korean unit apologised yesterday as he presented himself to state prosecutors for questioning over the German carmaker’s emissions fraud scandal. Johannes Thammer, CEO of Volkswagen Korea, was summoned by the Seoul...

Pokemon Go can be a boon for telcos

2016-08-12 The big winners from Pokemon Go could be the Singaporean telcos, as gamers ramp up their use of data to play the hotly anticipated game. Since its weekend launch, the app has become one of the most downloaded ones here. There is no Singapore-...

Singapore cuts 2016 growth forecast

2016-08-12 SINGAPORE yesterday narrowed its economic growth forecast for this year, citing concerns over the weaker global outlook and the impact of Britain’s vote to leave the EU. Gross domestic product (GDP) for the city-state, regarded as a bellwether for...

Australia blocks electricity network sale to China

2016-08-12 AUSTRALIA blocked the 10 billion Australian dollar-sale of its biggest energy grid to State Grid Corp of China and Hong Kong’s Cheung Kong Infrastructure Holdings citing security concerns, a blow to the country’s privatisation plan. Nine months...

China’s Alibaba Q1 revenue up 59%

2016-08-12 CHINESE e-commerce giant Alibaba saw revenues leap 59 per cent year-on-year for the quarter ended in June, it said yesterday, its strongest growth since it listed on the New York Stock Exchange in 2014. Revenue for the company, seen as a proxy for...

Thursday, 11 August 2016

Fears ease over China’s weaker yuan

2016-08-11 A YEAR ago on Thursday Chinese authorities stunned global markets by devaluing their yuan currency, raising fears the world’s second-largest economy was worse off than thought – but investors are now more sanguine about a weaker “redback”.The...

Pokemon Go boosts merchandise sales in Taiwan

2016-08-11 HIT mobile game Pokemon Go has rocketed to the top of app downloads on both Google Play and iOS, while sales of Pokemon merchandise more than tripled in the first two days of the game’s release.Mighty Media Co, merchandiser of Pokemon products in...

Oil prices seen to remain at US$50/bbl for next 5 years

2016-08-11 THE new normal for oil is US$50 per barrel, says a leading consultancy firm. Bain & Co feels that this scenario of prolonged low oil prices will remain for the next five years and predicts that the industry will continue to grapple with...

Wednesday, 10 August 2016

India keeps rates on hold

2016-08-10 INDIA’S Raghuram Rajan kept interest rates on hold yesterday in a bid to wrestle down inflation, in his final policy review as central bank chief.In a widely expected move, the popular Reserve Bank of India governor said he would hold the benchmark...

Philippines plans to import 250,000 tons of rice for delivery within Q3

2016-08-10 THE Philippines, one of the world’s biggest rice importers, plans to buy 250,000 tonnes of the food staple from either Vietnam, Thailand or Cambodia, as it seeks to maintain a comfortable reserve ahead of the typhoon season.The chairman of the...

Oil and gas loans ‘a worry, not a crisis’ for Singapore banks

2016-08-10 THE three Singaporean banks’ exposure to the troubled oil and gas sector has come under renewed scrutiny in the wake of Swiber Holdings’ collapse, causing anxiety in the investment community.Many now wonder if other oil and gas firms are facing...

Malaysian biz cashing in on Pokemon Go mania

2016-08-10 MALAYSIANS are cashing in on the Pokemon GO craze with some offering freebies and player accounts to fans of the location-based mobile game. Since the game was released locally last Saturday, retailers such as myBurgerlab — whose branches are all...

Emirates Airline adds Guangzhou to its A380 destinations

2016-08-10 DUBAI-BASED international carrier Emirates Airline said yesterday it will operate its flagship Airbus A380 “Superjumbo” for services between Dubai and Guangzhou, one of China’s largest cities, from Oct 1. Guangzhou will join Emirates’ extensive...

Tuesday, 9 August 2016

S’pore final GDP seen confirming sluggish Q2 growth

2016-08-09 SINGAPORE’S latest estimate of second-quarter gross domestic product is likely to confirm sluggish growth in the April-June quarter, with the outlook clouded by concerns over Brexit and weakening global demand.The median forecast in a Reuters...

Corporate Indonesia gears up for consumer demand revival

2016-08-09 INDONESIAN firms ranging from restaurant chains to snackmakers are stepping up investment and launching new products as improving economic conditions and easier access to credit drive a spurt in consumer demand in the country of 250 million people....

Amazon Japan raided on suspicion of antitrust

2016-08-09 JAPAN’S Fair Trade Commission has raided the offices of Amazon.com Inc’s local unit on suspicion of pressuring retailers to offer products at lower prices than on rival sites, the Nikkei business daily said yesterday.The paper, which cited...