Business » Asia

Saturday, 28 March 2015

EU: End of milk quotas mean opportunities in Asia

2015-03-28 EUROPEAN dairy farmers will be better poised to benefit from world demand for their products, particularly in Asia, when three-decade old milk quotas are lifted next week, the EU pointman on agriculture said. But Phil Hogan, the agriculture...

Friday, 27 March 2015

UBS eyes Asia for wealth management growth

2015-03-27 UBS AG, the world’s biggest wealth manager, expects Asia Pacific assets to account for as much as 30 per cent of the funds it oversees within the next 10 years, the Swiss bank’s chief executive said.UBS’s wealth management business looked after...

Toyota outlines new direction to grow after recall lull

2015-03-27 TOYOTA Motor Corp is ready to ramp up its growth again, emerging from an intentional soul-searching lull brought on by its massive global recall scandal that began in 2009.The world’s top-selling automaker outlined a new “architecture” Thursday...

South Korea seeks to joinChina-led development bank

2015-03-27 SOUTH Korea announced Thursday it would seek membership of the Chinese-backed Asian Infrastructure Investment Bank (AIIB), despite US opposition to the new multinational lender which Washington sees as a threat to the World Bank.Joining the AIIB as...

Thursday, 26 March 2015

Acer swings to profit after three years of losses

2015-03-26 TAIWAN’S struggling personal computer maker Acer said on Wednesday it turned a profit in 2014 following three successive years of net losses.The company recorded a net profit of Tw$1.79 billion (US$56.46 million) last year but revenues fell by 8.5...

In Brief

2015-03-26 Myanmar 2014/15 FDI swells to US$8.1 billionFOREIGN direct investment (FDI) into Myanmar has soared to more than US$8 billion this fiscal year, US$3 billion more than anticipated, owing to increased activity in the energy, manufacturing and...

Indonesia’s big banks hang hopes on infrastructure projects

2015-03-26 INDONESIA’S big, state-run banks are counting on government-led infrastructure projects to revive flagging loan growth as they reduce credit lines to the risky commodities sector and as local businesses delay expansion plans.A more cautious...

Cheap eurozone takeaway fuels Chinese appetites

2015-03-26 THE inexorable decline of the single currency offers ambitious Chinese firms a bargain buffet of eurozone business, analysts say, with this weekend’s multibillion deal for Italian tyremaker Pirelli only the latest course in an acquisition binge....

Philippines shifts to cleaner fuel standards starting July 1

2015-03-26 THE Philippines on Wednesday ordered oil companies, including Petron Corp and local units of Shell and Chevron, to sell only Euro IV-compliant fuels by July 1 in a drive to boost air quality in the Southeast Asian country.While there have been...

Wednesday, 25 March 2015

Malaysia plans to resolve LME tax issue

2015-03-25 MALAYSIA plans to reach a solution with London Metal Exchange (LME) over a new goods and services tax on metals traded or stored in the country’s bonded zones before an April 1 deadline, the deputy finance minister said on Tuesday.The LME said last...

China-led bank potential partner, not rival: ADB

2015-03-25 THE president of the Asian Development Bank (ADB) says a proposed Chinese-led regional bank is a potential partner rather than a rival and the ADB is talking with Beijing to share its experience.Takehiko Nakao’s comments came after Washington...

Japan car makers expand in Indonesia on weak rupiah

2015-03-25 THE rupiah’s descent to a 17-year low is building the case for Japanese auto makers to focus on rolling out cheaper, locally made sedans and multi-purpose vehicles (MPVs), rather than fighting for a bigger slice of Indonesia’s languid market for...

Bank of Japan urged to be mindful of weak yen risks

2015-03-25 JAPANESE Finance Minister Taro Aso urged the central bank on Tuesday to be mindful of the risk of causing sharp, unwelcome falls in the yen when it decides on whether to expand its already radical stimulus programme. Asked in parliament about...

Tuesday, 24 March 2015

China to reap Alibaba windfall as it tightens up on tax

2015-03-24 CHINA could make billions of dollars from taxing gains made by employees of e-commerce giant Alibaba Group who are free to sell their shares for the first time since its IPO, as the country tightens up its leaky mechanisms for tax collection.On...

Sinopec: Long wait for US$100 oil

2015-03-24 ASIA’S largest refiner, Sinopec Corp, said on Monday it expects prolonged weakness in global oil prices, forcing it to cut spending and turn more cautious about acquisitions.“This year’s oil prices won’t be high. It will take a very, very long time...

Japan gov’t upgrades economic view

2015-03-24 JAPAN’S government upgraded its view on the overall economy for the first time in eight months on Monday, noting a moderate recovery trend as factory output is picking up on the back of improving corporate activity. In its monthly economic report...

ASEAN SMEs urged to be engine of economic growth

2015-03-24 SMALL and medium enterprises (SMEs) in ASEAN member states have been urged to look at all possible opportunities in the region in order to broaden their network and significantly contribute to the growth of the region as a whole. In making the call...

Singapore February CPI fall marks longest drop since 2009

2015-03-24 SINGAPORE’S consumer prices fell in February for a fourth-consecutive month, the longest slide in more than five years, underscoring expectations that the central bank may ease monetary policy further in April.The all-items consumer price index...

China firm to take wheel of Italian Pirelli

2015-03-24 A CHINESE state firm has agreed to buy just over a quarter of Italian tyre maker Pirelli, renowned for its Formula One equipment and racy calendars, in a deal that will lead to a takeover bid.Pirelli’s largest shareholder Camfin said Sunday that it...

Monday, 23 March 2015

China plans to resolve steel industry overcapacity by 2017

2015-03-23 CHINA will accelerate the overhaul of its overly-invested iron and steel sector to bring it back to a “basically balanced level” by 2017, the industry ministry said.The Ministry of Industry and Information Technology (MIIT) said it would aim to...

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