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Wednesday, 24 April 2013
Australia's competition regulator yesterday approved Virgin Australia's purchase of a 60 per cent stake in low-cost rival Tiger Airways Australia, despite concerns about the market becoming a duopoly.Virgin is Australia's second-largest carrier...
SWITZERLAND is prepared to discuss the automatic exchange of banking information in the fight against tax evasion, but only once a global standard for doing so is created, the Swiss finance ministry said yesterday."If the automatic exchange of...
MAJOR miners in Indonesia, such as Freeport and Newmont, will get extra time to build smelters or sign pacts with smelters under construction, as they move to comply with a ban on exports of unprocessed minerals set for 2014, the industry minister...
HSBC to shed 1,149 UK jobs in new cutback LONDON: HSBC is cutting 1,149 jobs in Britain in another round of redundancies to save money and slim down Europe's biggest bank. The cuts are part of a three-year revival plan designed by Chief Executive...
CHINA and Germany, the world's two biggest exporters, showed new signs of weakness in major business surveys yesterday, increasing doubt about the strength of global demand and economic recovery.A similar survey for US manufacturing is due later in...
THAILAND'S richest tycoon yesterday launched a US$6.6 billion takeover bid for Thai discount retailer Siam Makro as rapid economic growth drives a boom in the kingdom's retail sector.The agreed bid is the latest mega-deal involving billionaire...
THE Association of Southeast Asian Nations (ASEAN) will pursue a free trade agreement with Hong Kong, a document obtained by AFP said yesterday.ASEAN leaders meeting in the Brunei capital of Bandar Seri Begawan today and tomorrow will endorse a...
AIRLINE industry confidence has improved slightly, said International Air Transport Association (IATA) in its April survey of chief financial officers (CFOs) and heads of cargo.In a statement yesterday, IATA said according to the survey, 73 per cent...
AIR France expects to carry 30,000 passengers this year on its new route from Kuala Lumpur and Paris, said its chairman/chief executive officer, Alexandre de Juniac.He said the airline targeted a load factor of 85 per cent on its latest route, its...
THE Philippines has failed to make headway in cutting rampant poverty, with more than one in four citizens deemed poor despite the country's economic growth, according to census figures released yesterday.The July 2012 poverty rate of 27.9 per cent...
Tuesday, 23 April 2013
INDIAN cement companies are planning to slash their capital expenditure over the next 12 months, reflecting excess capacity and a slower-than-expected revival in homebuilding and construction in Asia's third-largest economy. Two-thirds of demand for...
THAILAND has postponed indefinitely a tender to sell up to half-a-million tonnes of rice from bulging stockpiles as it tries to avoid low prices against the backdrop of rising world supplies, a senior Commerce Ministry official said on Monday.The...
THE Shanghai Futures Exchange is planning to offer cash-settled iron ore futures to help firms buying the steelmaking raw material manage price risks, an industry source said on Monday.Such a move would allow the world's top iron ore consumer, which...
SAUDI Arabia's Shura Council, which advises the government on new laws, has recommended changing the country's official weekend to Friday and Saturday to boost the economy, local media reported on Monday.Some local business leaders and economists...
SAMSUNG and LG were urged to reach an agreement on patent sharing to keep at bay the Chinese rivals that are fast on Korea's heels in terms of OLED technology, an executive at leading research firm said in an interview Saturday."It could be...
GROUND staff at Lufthansa, Germany's biggest airline, walked off the job Monday on a one-day strike that prompted the company to cancel most of the day's scheduled flights and left it complaining of "excessive" union tactics. The...
INDONESIA has agreed to begin talks on a comprehensive economic partnership agreement (CEPA) with Chile, hoping to use the nation as a trade hub in South America.On Sunday, both nations signed terms of reference to prepare for the talks, Trade...
Mobile operators invest in Myanmar YANGON: The worlds famous mobile operators are included in the list of 22 companies importing the second-phase Pre-qualification Application to invest in Myanmar's local communication services, according to the...
PRIME Minister David Cameron won the support of 500 business leaders on Monday in his campaign to renegotiate Britain's ties with the European Union, a political gamble that has infuriated some of the bloc's biggest members.Business for...
Monday, 22 April 2013
A STEADY flow of cash into emerging markets could become a flood as the Bank of Japan's huge stimulus programme may prompt the nation's investors to chase higher returns but for some developing countries that could be too much of a good thing.The...
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