Monday, 23 May 2016

Old-school factories stay alive in China’s south

2016-05-23 SQUEEZED by high costs and unpredictable demand, some factories in southern China’s manufacturing heartland are turning to a new strategy to survive: hiring workers by the day. It is a far cry from Beijing’s vision of a slick, hi-tech...

Internet firms becoming ‘hot target for private equity’

2016-05-23 ALMOST a third of the private equity deals in South-east Asia last year were in the Internet sector, a new report has found. Research from management consultancy Bain & Company showed that investments in Internet-related firms grew rapidly...

Saturday, 21 May 2016

Singapore’s MRT operator, NTU set up joint research lab to enhance rail reliability

2016-05-21 SINGAPORE Mass Rapid Transit (MRT) operator SMRT and Nanyang Technological University (NTU) yesterday launched a joint research laboratory to develop technology- driven solutions to build more resilient and reliable urban rail system as the city...

Oil Search to buy rival InterOil for US$2.2b in PNG deal

2016-05-21 PAPUA New Guinea explorer Oil Search yesterday said it had reached a multi-billion dollar acquisition deal with rival InterOil, but will sell off some of the assets to French energy giant Total to fund part of the takeover.Oil Search is to pay US$...

Global growth tops agenda as G7 meeting kicks off

2016-05-21 DIVISIONS over reigniting global growth were set to surface at the G7 in Japan yesterday, with US Treasury Secretary Jacob Lew expected to stand firm over any action threatening a currency war.Two days of talks will see host Japan keen to win an...

Moscovici says Greek debt relief deal ‘very close’

2016-05-21 EUROPEAN Economic Affairs Commissioner Pierre Moscovici yesterday said negotiators were “very close” to reaching a debt-relief deal for cash-strapped Greece.Athens is battling to win debt relief from its European Union creditors, arguing that its...

Friday, 20 May 2016

Indonesia trims 2016 growth forecast

2016-05-20 INDONESIA’S central bank yesterday kept its main policy rates steady, as expected, and trimmed its projection for economic growth this year after the first-quarter number was below forecasts. Bank Indonesia (BI) left its current and future...

Philippine economy grows faster than expected

2016-05-20 THE Philippine economy grew faster than expected at 6.9 per cent in the first quarter from the same period a year ago, its highest quarterly growth in almost three years, officials said yesterday as the government prepares to hand over leadership...

Apple opens map development office in India

2016-05-20 APPLE said on Thursday it will open a development office in Hyderabad, as its chief executive Tim Cook continued his India charm offensive with an investment boon to one of the country’s top technology hubs.The IT giant said the new centre will...

Thursday, 19 May 2016

Apple chief Cook unveils app design centre in India

2016-05-19 APPLE chief executive Tim Cook announced yesterday a new app design centre in India as he kicked off his first visit to the Asian giant seeking to tap into its roll-out of 4G networks.Cook landed in the Indian financial capital Mumbai shortly...

Crisis for South Korea shipbuilders as golden age fades

2016-05-19 AFTER more than a decade of global dominance, South Korea’s shipbuilders face an unprecedented crisis that threatens the very survival of one of the flagship industries of Asia’s fourth largest economy. South Korea’s “Big Three” shipbuilders were...

Suzuki Motor admits using improper fuel testing methods

2016-05-19 SUZUKI Motor Corp used the wrong methods to test the fuel economy of its cars in Japan, it said yesterday, widening a testing scandal that has already rocked smaller rival Mitsubishi Motors Corp.Japan’s transport ministry ordered widespread checks...

China to limit fund houses’ subsidiaries in shadow banking crackdown

2016-05-19 CHINA is stepping up its crackdown on risky shadow banking with plans to rein in explosive growth of fund houses’ subsidiaries - a US$1.5 trillion business widely used by banks to move their loans off balance sheet to skirt regulatory oversight.The...

Thailand orders halt to Uber, Grab motorbike taxi service

2016-05-19 THAILAND has ordered Uber Technologies and Grab to halt their motorcycle taxi-hailing services, a senior transport official said on Tuesday.The services are popular in Thailand’s grid-locked cities, where bikes weaving through traffic jams get...

Wednesday, 18 May 2016

Philippine vendors cashing in on Duterte election win

2016-05-18 BE IT “DU30” car plates or “The Punisher” T-shirts, Filipinos have been snapping up any merchandise they can featuring President-elect Rodrigo Duterte. Happy vendors along one highway in Davao, where Duterte is a hero after his tough measures as...

Budget airlines set to soar in ASEAN’s open skies

2016-05-18 LOW-COST airline groups and manufacturers of smaller passenger aircraft will be among the main winners after Southeast Asia’s open skies agreement finally came into effect last month, although airport capacity constraints could limit the benefits...

Huawei looks to build global smartphone brand

2016-05-18 CHINESE tech giant Huawei wants Americans to start thinking of it as a stylish smartphone brand. Huawei Technologies Ltd, which pulled out of the US market for network switching gear four years ago due to security fears, became the No 3 global...

Saudi prince seeking opportunity on Korean island

2016-05-18 SAUDI Prince Al-Waleed bin Talal (pic) has said he was seeking a business opportunity in a southern South Korean resort island during his meeting with the island’s governor, the provincial government said yesterday. The billionaire prince met with...

Saudi Arabia aims to salvage financial district

2016-05-18 THE plan to build a financial district from scratch was viewed by Saudi Arabia’s neighbours as among the glossiest excesses of the kingdom’s oil boom profligacy: a white elephant in the making, unlikely to attract tenants and possibly never even to...

Tuesday, 17 May 2016

Game on: Nintendo eyes expansion into film business

2016-05-17 MOVIES like “Mario Kart” and “The Legend of Zelda” could soon be coming to a theatre near you. Nintendo Co Ltd is in talks with several global production companies about expanding its video content business, including making movies, said Tatsumi...