Saturday, 2 July 2016

Oil market will come into balance in 2017

2016-07-02 THE US energy secretary said yesterday he sees the global oil market coming into balance over the next year as rising demand catches up with a two-year-old supply glut that depressed prices.Ernest Moniz said supplies should be adequate after the...

Duterte’s directives to benefit Philippine business

2016-07-02 THE local and foreign business community felt reassured and encouraged as President Rodrigo Duterte directed his Cabinet to honor existing contracts and implement measures to further ease doing business in the country.These, among Duterte’s...

Thursday, 30 June 2016

Universal Studios Singapore top amusement park in Asia: TripAdvisor

2016-06-30 UNIVERSAL Studios Singapore has been named the top amusement park in Asia by travel site TripAdvisor for the third year running, local media reported yesterday. TripAdvisor announced the winners of its Travelers’ Choice awards for amusement parks...

Indonesia to step up oil exploration, fishing activities

2016-06-30 INDONESIAN President Joko Widodo yesterday ordered an expansion of offshore oil exploration and commercial fishing in the waters near the Natuna Islands. Indonesia has taken unprecedented steps in the past week to lay claim to the remote island...

Moody’s: Singapore’s growth likely to remain subdued

2016-06-30 MOODY’S expects Singapore’s GDP growth for 2016 to slow at about 1.6 per cent, after expanding by 2.0 per cent in 2015. This forecast for 2016 is at the lower end of the government’s estimated growth range of 1.0 per cent to 3.0 per cent, said the...

Wednesday, 29 June 2016

Weather woes cool Vietnam’s Q2 growth

2016-06-29 VIETNAM’S galloping growth took a hit in the second quarter with drought and bad weather weighing on its agriculture sector and slowing the economy to 5.55 per cent, the weakest expansion in the three-month period in two years.Vietnam’s economy is...

South Korea unveils US$17b stimulus

2016-06-29 SOUTH Korea yesterday announced an economic stimulus package of 20 trillion won (US$17 billion) as it cut its 2016 growth forecast due to slowing global demand and the fallout from Britain’s shock decision to leave the EU.The finance ministry...

Airbnb shares optimism on China

2016-06-29 THE sharing economy has huge potential in China, where the younger generation are ready to embrace new ways of doing business and living, senior management of Airbnb believe.“We’ve seen positive signs of a developing sharing economy in China both...

AirAsia chief to discuss KLIA2 branding issue

2016-06-29 AIRASIA Group Chief Tan Sri Tony Fernandes will be meeting Transport Minister Datuk Seri Liow Tiong Lai today to discuss the KLIA2 branding issue. There have been continuous arguments between Malaysia Airports Holdings Bhd and AirAsia over the...

Tuesday, 28 June 2016

Business outsourcing industry in Philippines to get Brexit boost

2016-06-28 WHILE global markets are fretting over Great Britain’s decision to leave the European Union — commonly known as the game-changing Brexit — a property market veteran sees the Philippines raking in windfall gains for its business process outsourcing...

China a potential Brexit winner

2016-06-28 CHINA is a potential winner if Britain and the European Union rework trade deals and look for investors after a British exit.Beijing faces a blow from weaker European demand for its exports and pressure to hold its yuan steady in turbulent currency...

US$98b stimulus mulled if Brexit weighs down Japan

2016-06-28 JAPAN’S finance ministry, the Financial Services Agency and the Bank of Japan have agreed that the authorities will cooperate to prevent disarray in worldwide financial markets and any resulting deterioration of the Japanese economy.The government...

Oil prices stabilise after Brexit vote

2016-06-28 OIL prices stabilised yesterday as market participants better absorbed the shock of last week’s vote in Great Britain to leave the European Union and recognised the referendum would have little effect on global fuel demand.Brent crude futures were...

Yen surges to hit Japan automakers’ profits

2016-06-28 THE yen’s surge after Britain’s vote to leave the European Union is set to depress operating profit at Japan’s automakers this year, analysts said, exacerbating a slump in earnings already anticipated for the current year.While executives at Asian...

Monday, 27 June 2016

TransCanada files US$15b suit over US rejection of Keystone pipeline

2016-06-27 TRANSCANADA has formally filed a US$15 billion suit against the US government for blocking its controversial project for an oil pipeline linking Canada with the Gulf of Mexico, legal documents show. The company first announced its intention to sue...

Gulf stocks fall on Brexit vote

2016-06-27 STOCK markets in the energy-rich Gulf states dropped Sunday in the first trading session after Britain voted to leave the European Union. All seven Gulf Cooperation Council (GCC) stock markets were closed for the Muslim weekend on Friday when the...

Chinese insurers run massive risks for titanic returns

2016-06-27 YEARS of breakneck growth for China’s top insurers has been partly fuelled by a splurge on risky investment products that could punch multi-billion-dollar holes in their balance sheets if the slowing economy triggers heavy debt defaults. Industry...

Hotel chains adapt to Asia’s younger, tech-savvy clients

2016-06-27 FROM ordering food via an emoji-only online room-service menu to hiring bicycles to explore a city or selecting rooms beforehand, hospitality brands have gone all out to offer an eclectic range of services to woo the millennial group of tech-savvy...

Tough times for Malaysian property firms

2016-06-27 AGGREGATE sales for eight out of 10 listed property companies have fallen from the peak in 2013 amid more challenging market conditions, according to a study by RAM Ratings. Developers are also struggling with dwindling profits, while the higher...

Line struggles to show its growth plan can work

2016-06-27 IN DELAYING its IPO by two years, Japanese messaging app company Line Corp bought time to correct weak financial reporting controls, work on its business plan, bolster staffing - and left billions of dollars on the table as its valuation shrivelled...