Business » Asia

Tuesday, 8 December 2015

France’s CMA CGM offers to buy Singapore’s Neptune Orient Lines

2015-12-08 FRENCH transportation firm CMA CGM SA said yesterday it has offered to buy Singapore-based container liner Neptune Orient Lines (NOL) in a bid to “cement” its position as a global leader in shipping.The deal announced in a filing with the Singapore...

Palm oil at 2-month top as soyoil gains, El Nino support

2015-12-08 MALAYSIAN palm oil rose for a third consecutive session yesterday to hit a two month high with the market driven up by strong gains in rival soyoil prices and fears that dryness due to the El Nino weather pattern will cut yields. Chicago Soyoil...

China FX reserves plunge

2015-12-08 CHINA’S foreign exchange reserves, the world’s largest, fell by US$87.2 billion in November to US$3.44 trillion, central bank data showed on Monday, the lowest level since February 2013 and the third largest monthly drop on record. Analysts blamed...

‘Interest in nuclear power up despite Fukushima’

2015-12-08 DESPITE the Fukushima nuclear disaster that devastated northeastern Japan in 2011, interest in nuclear power has increased significantly, mainly in Asia, the UN nuclear watchdog chief said yesterday.International Atomic Energy Agency chief Yukiya...

In Brief

2015-12-08 Chinese steel demand continues to fallBEIJING: Slowing property investment and weakening manufacturing have dragged down Chinese steel demand this year, according to an industry report released yesterday. Chinese domestic demand for steel will fall...

India’s GMR Group plans to raise US$1b to cut debt, prepare for new growth

2015-12-08 INDIAN infrastructure company GMR Group plans to raise at least US$1 billion over the next two years to cut debt, repay investors in its airports business and prepare for a new phase of growth, its chief financial officer said yesterday.GMR, which...

Monday, 7 December 2015

China forecast to become world’s biggest electric car market

2015-12-07 CHINA is forecast to become the world’s biggest electric car market this year, with sales estimated at 220,000 to 250,000 vehicles, the official news agency Xinhua said on Sunday, quoting the China Association of Automobile Manufacturers.Worldwide...

Saturday, 5 December 2015

Manila economy to hit US$1 trillion in 2030

2015-12-05 THE Philippines is projected to become a one-trillion-US dollar economy by 2030, international analytic firm IHS Global Insight said in a study released yesterday. The IHS also cited the Philippines as the only sovereign entity in Asia with...

Jakarta delays new economic stimulus

2015-12-05 INDONESIA yesterday decided to postpone announcement of a new economic stimulus package which focuses on efforts to anticipate the US Federal Reserve’s plan to raise rate, a Cabinet secretary said here. “The economic stimulus package will not be...

Malaysia Oct exports up by 16.7 per cent

2015-12-05 MALAYSIA’S October exports grew more than twice as much as expected, helped by demand from key markets for electrical and electronic products and by the weak ringgit. The country’s exports have picked up in the second half, after drops in...

Friday, 4 December 2015

Indonesian tycoons’ wealth down

2015-12-04 INDONESIA’S richest tycoons have seen their wealth drop by $9 billion this year due to a continued fall in commodity prices and weaker currency, according to a Forbes list released yesterday.The collective wealth of Indonesia’s top 50 richest fell...

Toyota harbours big ambitions for ‘partner robot’ business

2015-12-04 TOYOTA Motor Corp is harbouring big ambitions to become a significant player in the growing market for robots that help the elderly and other people get around in everyday life.The company believes it can use its manufacturing expertise to become...

South Korea GDP growth hits 5-year high in Q3

2015-12-04 SOUTH Korea’s economy grew at the fastest pace in more than five years in the third quarter, driven by a strong rebound in consumer spending, central bank data showed yesterday.Asia’s fourth-largest economy expanded by 1.3 per cent in the July-...

Thursday, 3 December 2015

S’pore adults most financial literate in Asia

2015-12-03 SINGAPORE has the highest percentage of financially literate adults in Asia, a continent where 73 per cent of adults do not adequately understand key monetary ideas, a new study has found.As many as two-thirds of adults in the world are financially...

Indian official floats idea of national gold exchange

2015-12-03 A SENIOR Indian government official floated the idea this week of setting up a national gold exchange to overhaul physical trade in the world’s second-biggest bullion market.Such a platform could provide transparency and establish a price benchmark...

Wednesday, 2 December 2015

India central bank keeps rates, more room for ‘accommodation’

2015-12-02 INDIA’S central bank kept its key repo lending rate unchanged at 6.75 per cent yesterday, as widely expected, after consumer inflation picked up to a four-month high and as emerging markets brace for a hike in US interest rates.Reserve Bank of...

Samsung replaces mobile chief, promotes chairman’s daughter

2015-12-02 SAMSUNG yesterday replaced the head of its mobile business and promoted the chairman’s daughter as the South Korean giant seeks to reassert its smartphone dominance amid a generational power transfer in the founding Lee family. In an annual...

Tuesday, 1 December 2015

Japan leaders in SOS to cash cow companies

2015-12-01   JAPAN’S central bank governor and other officials are stepping up appeals to cash-rich corporations to do more to boost the country’s faltering economic recovery. The flurry of comments aimed squarely at business leaders coincide with a push by...

S Korea ICT firms see shares surge after online banking nod

2015-12-01 SOUTH Korea’s top messaging app operator saw its share price soared 13 per cent yesterday – a day after being named by financial regulators as one of two companies permitted to start Internet-only banking services. Kakao Corp, which runs the Kakao...

Asia oil prices trade below US$42 ahead of OPEC meet

2015-12-01 OIL prices traded below US$42 in Asia yesterday ahead of an OPEC meeting and the release of data on China’s important manufacturing sector later in the week.The market will be watching whether members of the Organization of the Petroleum Exporting...

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