Business » Asia

Thursday, 20 February 2014

China’s budget carrier Spring set for US$3b Airbus order

2014-02-20 CHINESE low-cost carrier Spring Airlines is set to make an order for up to 30 Airbus A320 aircraft worth US$3 billion at list prices, the company’s chairman told Reuters, amid an expected surge in budget flights in China. The airline hopes to...

Singapore’s super rich hit by changes in fiscal policy

2014-02-20 SINGAPORE is known as a tropical refuge for the world’s wealthy, endowed with exclusive residential enclaves, a marina for super-yachts, two casinos and an annual Formula One race that brings in the global jet-set.But as the orderly city-state...

Bajaj to deepen Kawasaki, KTM ties to fuel exports

2014-02-20 INDIAN motorcycle maker Bajaj Auto is building on its partnerships with Japan’s Kawasaki Heavy Industries Ltd and Austria’s KTM AG as it looks to increase exports of its bikes to fuel growth.Bajaj is already India’s top exporter of motorcycles and...

Wednesday, 19 February 2014

MAS suffers fourth straight quarter loss

2014-02-19 STRUGGLING flag carrier Malaysia Airlines said yesterday it recorded its fourth straight quarterly loss in the last three months of 2013 and warned of a “challenging” year ahead due to intense competition.The airline reported a net loss of RM343...

Most Japan automakers resume plant operations; Mazda, Nissan still affected

2014-02-19 MOST Japanese car makers including Toyota Motor Corp have resumed operations at their plants that were suspended after heavy snow disrupted parts deliveries, companies said yesterday, limiting impact on their domestic production volume.But Mazda...

Temasek to sell Shin Corp stake

2014-02-19 SINGAPORE state investor Temasek Holdings Pvt Ltd is seeking to sell its US$3.1 billion stake in Thai telecom company Shin Corp, according to people familiar with the matter, and has approached its SingTel unit as a possible buyer.Temasek, which...

Tuesday, 18 February 2014

Singapore’s 2013 tourist spending growth slowest since 2009

2014-02-18 SINGAPORE’S tourist spending recorded a new high of $23.5 billion (US$18.7 billion) in 2013, up 1.6 per cent year on year, according to preliminary estimates by Singapore Tourism Board released yesterday. The growth, however, was the slowest since...

Malaysia’s economic growthto accelerate to 5.4% this year

2014-02-18 MALAYSIA’S economic growth is set to accelerate to 5.4 per cent in 2014 against the 4.7 per cent recorded last year, and buttressed by continued domestic demand as well as a further recovery in exports. RHB Research Institute Sdn Bhd’s Executive...

New global accounting principles proposed

2014-02-18 THE Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA) have proposed a comprehensive framework to bring consistency to management accounting practices around the world and help organisations to make...

Nanny services thrive in China

2014-02-18 AROUND 40 families showed up at an unusual auction in east China’s Shandong Province, to bid for the services of eight nannies. Sunday’s event in Jinan City was organised to focus public attention to growing demand in the domestic service industry...

Chinese millionaires unfazed by Canada’s immigration policy change

2014-02-18 DESPITE Canada’s suspension of its Immigrant Investor Program (IIP), the country remains near the top of the list most desirable relocation spots for rich Chinese. In a poll by microblogging platform Sina Weibo, 70 per cent of 64,191 voters would...

Protest-hit Thai economy slows in Q4

2014-02-18 THAILAND’S economy grew 0.6 per cent in the final three months of 2013 compared with the same quarter a year earlier, data showed yesterday, as political turmoil hit consumer confidence and tourism.With no end in sight to more than three months of...

Indonesia takaful firms boost agents, products before spin-off

2014-02-18 COMPANIES selling Islamic insurance (takaful) in Indonesia are boosting agent numbers and product ranges ahead of a new rule that will require them to be run independently. Indonesia, the world’s fastest-growing market for takaful, is dominated by...

China calls for fair handling of solar dispute with US

2014-02-18 CHINA urged the United States yesterday to “objectively and fairly” handle an ongoing trade dispute between the two countries after Washington signalled last week it could extend import duties on Chinese solar panels to a wider range of products....

Slowing Japan economy stokes fears of tax rise

2014-02-18 JAPAN’S economy slowed to a crawl in the last quarter of 2013, data showed yesterday, exacerbating fears that an April sales tax rise will derail Prime Minister Shinzo Abe’s bid to stoke growth after almost two decades of deflation.While the world’...

Monday, 17 February 2014

China’s CCB launches first overseas ATM in Australia

2014-02-17 CHINA Construction Bank (CCB) yesterday launched its first overseas ATM, aside from Hong Kong, in Australia’s second-largest city of Melbourne, indicating the Chinese financial giant’s ambition to deploy business in western markets.In his speech at...

China’s bank lending soars to four-year high in January

2014-02-17 CHINA’S banks disbursed the most loans in any month in four years in January, a surge that suggests the world’s second-biggest economy may not be cooling as much as some fear.Chinese banks lent 1.32 trillion yuan (US$217.6 billion) worth of new...

Japan’s unions demand wage hikes

2014-02-17 JAPAN’S unions have started demanding wage hikes from cash-rich firms as annual pay talks get under way, setting up a rare showdown after years of drama-free labour relations.Unionists are questioning if usually quiescent workers should stick by a...

Smaller planes in demand in Asia

2014-02-17 SMALLER passenger planes are increasingly in demand in Asia as budget carriers cash in on the region’s growing middle classes by expanding their reach to less prominent cities, industry executives say. So-called “regional” jets – short to medium-...

Saturday, 15 February 2014

Murphy Oil mulls Asia asset sale: sources

2014-02-15 MURPHY Oil Corp is considering selling some of its Asian oil and gas assets in a deal that could fetch up to US$3 billion, sources said, as it looks to scale down in the region like some other US energy companies. Energy majors from BP to Shell...

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