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Saturday, 4 May 2013
CHINA's third-party payment companies, mainly online payment service providers, have been growing rapidly in the past decade.Alipay, the online payment arm of e-commerce giant Alibaba Group Holding Ltd, had a 46.6 per cent share of the online...
THE Asian Development Bank (ADB) is interested in promoting Indian ventures, including the Delhi Mumbai Industrial Corridor, highways and rail projects, ADB president Takehiko Nakao said yesterday.Nakao of Japan, who took over as ADB chief last...
EXPECTATIONS for Abenomics have apparently shifted the economy into a positive cycle, as seen through increased personal spending, the gradual expansion of corporate production and an improvement in unemployment.Attention is now set to shift to...
LAOS 2nd Nationwide Economic Survey will commence next week, after a meeting was convened yesterday in Vientiane to announce the launch of the national business survey.This is the second nationwide economic survey after the first was undertaken back...
Friday, 3 May 2013
PRESIDENT Barack Obama yesterday chose two old friends with business executive experience for top posts on his economic team, naming long-time fundraiser Penny Pritzker to the Commerce Department and adviser Michael Froman as US Trade Representative...
STANDARD & Poor's (S&P) gave the Philippines an investment grade credit rating yesterday in the second such boost to the country's standing this year. S&P said it raised its sovereign rating on the Philippines to BBB- from BB+. It...
INTEL Corp said yesterday that it has chosen its chief operating officer (COO), Brian Krzanich, as its new chief executive officer (CEO). Krzanich will steer the world's largest chipmaker in a world where personal computer (PC) sales are cratering...
THE European Central Bank (ECB) pared back its key interest rates as expected yesterday amid mounting calls across the eurozone to focus on growth rather than austerity.As widely forecast by analysts, the ECB trimmed its key "refi"...
Thursday, 2 May 2013
THE world economy is still not growing fast enough to generate jobs for tens of millions who have become unemployed but it is strengthening gradually, a top IMF official said yesterday.While global growth is seen at 3.3 per cent in 2013 and an even...
THE price of oil dropped to near US$92 a barrel yesterday after data showed a slowdown in China's manufacturing growth and a rise in US crude stocks. By early afternoon in Europe, benchmark oil for June delivery was down US$1.18 to US$92.28 a...
HUNDREDS of workers at Freeport-McMoRan's Indonesian mine have gone on strike demanding better pay, the US firm said yesterday, in the latest industrial action to hit the operation.Some 1,100 workers, employed by contractors and not directly by the...
KUWAIT plans to increase service charges on foreigners, media reports said yesterday, triggering the ire of the main labour union which also blasted the government for deporting hundreds of expatriates.State Minister for Cabinet Affairs Sheikh...
Indonesia inflation slows to 5.57% in AprilJAKARTA: Indonesian inflation eased to 5.57 per cent on-year in April due to lower food prices after the government eased some import restrictions, official data showed yesterday. It slowed from 5.90 per...
ECONOMISTS say the European Central Bank could cut interest rates as soon as today because of fears that the euro area's economy isn't recovering even though top bank officials themselves caution that a cut won't do much good. Market...
MANUFACTURING activity in China slowed slightly in April from the previous month, official data showed on yesterday, in a sign of further weakness in the world's second-biggest economy.The purchasing managers' index (PMI) dropped to 50.6 in April,...
Proceeds to be used for dividend payments, stock buybacks. APPLE Inc sold US$17 billion in bonds Tuesday in a record deal spurred by the company's plan to placate its frustrated shareholders. The Cupertino, California-based company sold the...
THE globe's air-passenger traffic rose by a solid 5.9 per cent in March compared with a year ago, fuelled by strong performances in emerging markets, the International Air Transport Association said yesterday."Strong demand for air travel is...
DOZENS of Sony executives including the firm's chief are foregoing bonuses this year in an "unprecedented" step to atone for a slump in its embattled electronics unit, a spokeswoman said yesterday.Chief executive Kazuo Hirai is among 40...
Wednesday, 1 May 2013
THE United States yesterday gave some ground on the contentious issue of food security in world trade talks in hopes of gaining at least some progress toward a limited new WTO pact this year.The US Trade Representative, which has been pressing for...
FOOD giant Unilever yesterday announced a US$5.4-billion offer to raise its stake in its Indian subsidiary, eyeing explosive sales of branded consumer items to the Asian country's growing middle class.The Anglo-Dutch firm made an offer to buy...
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