Business » Asia

Tuesday, 5 April 2016

Chinese farmers switch to growing soybeans

2016-04-05 WANG Zhonghai, a 49-year-old farmer in China’s top corn producing province of Heilongjiang, plans to switch 80 per cent of his land to cultivate soybeans this year as the government ends a near decade-old corn price support scheme. China announced...

Monday, 4 April 2016

Adani wins state approval for Australian coal project

2016-04-04 INDIA’S Adani Enterprises Ltd was granted approval by Australia’s Queensland state government yesterday to proceed with its proposed A$10 billion (US$7.7 billion) Carmichael coal project in the Galilee Basin. Queensland Premier Annastascia...

Producer coordination would stabilise oil prices: Kuwait

2016-04-04 KUWAIT said yesterday that an agreement on coordination between major OPEC and non-OPEC oil producers at a meeting in Doha in mid-April would help stabilise crude prices. “When there is coordination between major producers in OPEC and non-OPEC...

Astro to focus on ‘Malaynnials’

2016-04-04 IN VIEW of the fast growing Malay consumer market and higher purchasing power of this segment, advertisers are now competing and putting into motion initiatives to capture a larger slice of this important market.   With changing consumer trends,...

Art’s beauty in a money world

2016-04-04 AMID talk of a bearish outlook for the art market, some parts of the art world seem to be doing quite well. Despite the notorious volatility and illiquidity of art works and a highly unregulated market, the business of art-secured loans remains at...

Saturday, 2 April 2016

Japan biz mood sours to 3-year low

2016-04-02 BUSINESS sentiment among Japan’s big manufacturers deteriorated to the lowest in nearly three years and is expected to worsen in the coming quarter, a closely watched central bank survey showed yesterday, heightening pressure on Prime Minister...

China’s Anbang drops bid for Starwood Hotels

2016-04-02 CHINA’S Anbang and its partners said Thursday they had withdrawn a US$14 billion takeover offer for Starwood Hotels & Resorts Worldwide, leaving Starwood free to merge with Marriott International. In a brief statement, the Anbang-led...

AirAsia’s founders move to cut debt

2016-04-02 AIRASIA Bhd’s founders tightened their grip on Asia’s biggest budget airline with a deal to invest 1 billion ringgit (US$257 million) in it, helping the company to shore up its finances and cut debt. The move by Asia’s biggest budget airline to...

Rent a car for $2 an hour

2016-04-02 IT IS a car-rental, car-sharing and chauffeur service all rolled into one - and it is shaping up to be another rival to traditional taxi operations. Two-month-old Tribecar, set up by a family which runs Malaysian conglomerate Insas, is offering...

‘Don’t ask where money came from’

2016-04-02 FOR Kim Wong, the Chinese casino owner in the Philippines entangled in one of the world’s largest bank heists, there are two golden rules for dealing with wealthy punters: always demand to see their money, but never ask where it came from. That...

Friday, 1 April 2016

Part of Bangladesh funds stolen by hackers returned

2016-04-01 A CHINESE casino junket operator yesterday returned US$4.63 million of the US$81 million that hackers stole from the Bangladesh central bank’s account in the US Federal Reserve Bank and laundered in Manila’s casinos, officials said.Kam Sin Wong, a...

Profits soar at China’s big 3 airlines

2016-04-01 CHINA’S three biggest airlines reported soaring net profits in 2015 despite the country’s worst economic growth in a quarter of a century, as more Chinese travelled abroad. Cheaper jet fuel helped the bottom line, but losses from foreign exchange...

Thailand’s ‘creative economy’ learns from Bollywood film industry

2016-04-01 SEEKING generators for Thailand’s “creative economy”, Thai Deputy Prime Minister and Foreign Minister General Tanasak Patimaprakorn was in Mumbai recently, learning how Bollywood earns its billions in box-office revenues.The general led a...

Thursday, 31 March 2016

ADB: Asia economy to grow 5.7% in 2016, 2017

2016-03-31 SOFTER growth prospects for China and a weak recovery in major industrial economies are expected to push down economic growth in developing Asia to 5.7 per cent this year and next, below projections, the Asian Development Bank said on Wednesday....

Tata Steel puts UK biz up for sale

2016-03-31 INDIA’S Tata Steel, Britain’s largest steelmaker, put its entire UK business up for sale to stem heavy losses, a move that would draw a line under its almost decade-long foray into Britain’s declining steel industry.After a marathon board meeting...

Japan factory output falls in February

2016-03-31 JAPAN’S factory output plummeted in February at its sharpest pace since the aftermath of the 2011 earthquake and tsunami disaster, government data showed Wednesday, the latest setback to efforts to rejuvenate the world’s third-largest economy.Prime...

Chinese banks see slight profit rises as economy slows

2016-03-31 TWO of China’s biggest banks yesterday announced slight increases in 2015 net profits, but warned of growing risks from bad loans as the world’s second largest economy slows.The Industrial and Commercial Bank of China (ICBC) eked out a 0.48 per...

Foxconn agrees to buy Sharp

2016-03-31 TAIWAN’S Foxconn agreed to acquire Sharp Corp at a big discount to its original offer after a month of wrangling that sowed more doubts over whether the two companies can work well together and fend off fierce competition from smartphone display...

Sinopec’s profit falls by 30 per cent

2016-03-31 CHINESE energy firm Sinopec said net profit plunged 30 per cent last year as it was hit by the collapse in oil prices, which has sent shockwaves through global markets and battered the country’s other industry giants. Sinopec’s net profit came...

Wednesday, 30 March 2016

China to end corn stockpiling, free up prices

2016-03-30 CHINA plans to scrap its nine-year-old corn stockpiling system and allow markets to determine prices for the grain, pushing to end a widening gap between domestic and international prices that has led to a surge of cheaper imports. The government...

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