Asia News
ASIA BUSINESS NEWS – TOP STORIES
* Tanjong, IJM, Zelan, Ngiu Kee (source: India Gazette)
July 31, 2010 – KUALA LUMPUR: After notching gains for the sixth-straight day and pushing the FBM KLCI past the 1,360 level on Friday, July 30, the market may take a…
Oil edges higher after economic reports
July 31, 2010 – ENERGY prices settled higher yesterday on a day of uneven trading after the government said the US economic recovery slowed during the second quarter…
Stocks end July with big gain, Dow gains 7.1%
July 31, 2010 – STOCKS had a fitting end to a choppy July as prices seesawed their way to a narrowly mixed finish. The market still had its best month in a year. In…
ICICI Bank Posts 17% Profit (source: Wall Street Journal)
July 31, 2010 – ICICI Bank of India reported higher net profit for the first quarter, while total revenue fell. (source: Wall Street Journal) – Share on Twitter – Sha…
Black Box From Pakistan Crash Found (source: Wall Street Journal)
July 31, 2010 – Recovery workers have found the flight-data recorder from the wreckage of Pakistan’s worst-ever plane crash. (source: Wall Street Journal) – Share on…
Pilots quit Philippine Airlines for higher-paying jobs (source: India Gazette)
July 31, 2010 – The Philippines’ flag carrier Saturday cancelled about a dozen domestic and international flights after several pilots resigned for higher-paying jobs…
Top Pakistan Spy Scrubs U.K. Trip (source: Wall Street Journal)
July 31, 2010 – Pakistan’s military spy chief has canceled a trip to the U.K. after Prime Minister Cameron made remarks about Pakistan’s role in sponsoring terrorism.
Religare board oks $431 mn fund raising, posts loss (source: The Economic Times)
July 31, 2010 – Religare board oks $431 mn fund raising, posts lossReligare board oks $431 mn fund raising, posts loss (source: The Economic Times) – Share on Twitter…
Officers to apologize to reporter given warrant
July 31, 2010 – OFFICERS in east China’s Zhejiang Province will offer a face-to-face apology to a reporter whom they wrongly listed as a wanted suspect for his report…
China surpasses Japan, becomes No. 2 economy
July 31, 2010 – CHINA has overtaken Japan to become the world’s second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of million…
It’s Apple’s latest on the line
July 31, 2010 – …
The man with the power
July 31, 2010 – …
Demand for talent
July 31, 2010 – RECOVERY of Chinese economy drove up demand for talent in the second quarter, according to a recent report by Robert Walters. The number of recruitm…
Plane purchase
July 31, 2010 – AIR China yesterday said one of its subsidiary airlines would pay US$814 million to buy 10 Airbus A320 passenger planes. In a statement filed to th…
Bad loans decline
July 31, 2010 – BAD loans at overseas banks in Shanghai dropped in the first half of this year on tight risk controls, the Shanghai Bureau of the China Banking Regula…
Disney sells Miramax
July 31, 2010 – THE Walt Disney Co yesterday said it has agreed to sell Miramax Films to an investor group for about US$660 million, ending a 17-year association with…
Rights issue cleared
July 31, 2010 – CHINA’S banking regulator has cleared China Construction Bank’s plan for an US$11 billion rights issue in Hong Kong and Shanghai, the bank said in a s…
Losses fear for steel producers
July 31, 2010 – A LARGE number of China’s steel producers will report losses in the second half of this year, the country’s steel association said yesterday. "…
Conditions stable but companies still cautious
July 31, 2010 – BUSINESS conditions for companies in China were basically stable in July, according to a survey released yesterday. Overall operating conditions for…
Citic to sell stakes to remove legal block
July 31, 2010 – CITIC Securities Co is to sell 53 percent of its 60 percent stake in China Securities Co to two buyers to remove a regulatory hurdle that prevents it…
US recovery dragging its feet
July 31, 2010 – THE United States’ economic recovery lost momentum in the spring as growth slowed to a 2.4 percent pace, its most sluggish showing in nearly a year an…
Carlyle fund ready to invest
July 31, 2010 – GLOBAL asset manager Carlyle Group has received more than 2.4 billion yuan (US$354 million) in commitments for its Beijing-based yuan fund and has set…
Nuclear plant gets under way
July 31, 2010 – CONSTRUCTION on the first phase of a nuclear power plant in souther China’s Guangxi Zhuang Autonomous Region began yesterday. The project in Guangpo…
E-book reader for US$147
July 31, 2010 – HANWANG Technology Co will launch an entry-level e-book reader costing less than 1,000 yuan (US$147) later this year, the company said yesterday. E-…
Banks fall on liquidity concerns
July 31, 2010 – SHANGHAI’S stock market closed lower yesterday after banks dropped due to liquidity concerns ahead of China Everbright Bank’s initial public offering…
US firm to scrap giant takeover
July 31, 2010 – UNITED States clinical research company Charles River Laboratories International is to scrap a deal that could have been the largest foreign takeover…
A Star is born for Chinese consumers
July 31, 2010 – STAR Mall Group, an international real estate development and investment company, plans to expand its shopping mall portfolio rapidly across China in…
Trading downturn hits Nomura profits (source: FT)
July 30, 2010 – Nomura, the Japanese bank, reported an 80-per-cent plunge in quarterly net profit on Friday, joining western rivals in suffering from a broad downturn…
CKI snaps up EDF Energy Networks (source: FT)
July 30, 2010 – Asia’s wealthiest man is to buy the UK electricity distribution business of France’s EDF for £5.8bn in what is set to be the biggest European investm…
Renuka Sugars against Jaypee Cap’s stake in NCDEX (source: The Economic Times)
July 30, 2010 – Renuka Sugars against Jaypee Cap’s stake in NCDEXRenuka Sugars against Jaypee Cap’s stake in NCDEX (source: The Economic Times) – Share on Twitter – S…
HTC spearheads Taiwan gains (source: FT)
July 30, 2010 – Company earnings from Asia and the US beat expectations but indices relinquished some ground on Friday (source: FT) – Share on Twitter – Share on Face…
Restructured bank loans double in FY10 (source: The Economic Times)
July 30, 2010 – Restructured bank loans double in FY10Restructured bank loans double in FY10 (source: The Economic Times) – Share on Twitter – Share on Facebook – RSS…
Hollywood theme park scripted for India (source: FT)
July 30, 2010 – Reliance Big Entertainment and Universal Studios are close to signing an agreement to build a $1.5bn film-themed resort with a Bollywood twist (source…
China closer to becoming second-largest economy (source: FT)
July 30, 2010 – A senior Beijing official’s reference to China as the ‘world’s second-largest economy’ has sparked excited speculation that Asia’s new powerhouse may…
Li Ka-shing buys EDF arm for £5.8bn (source: FT)
July 30, 2010 – EDF Networks has low-voltage electricity distribution networks in the east and south of England, long-term contracts with businesses such as London Un…
Signs of slowdown in Japanese recovery (source: FT)
July 30, 2010 – Fresh data reveal an unexpected rise in the unemployment rate and a drop in industrial production amid the country’s ongoing battle with deflation (so…
US divided on how to tackle Huawei (source: FT)
July 29, 2010 – US government agencies charged with reviewing sensitive acquisitions are engaged in a debate over how to handle Huawei, the Chinese software and telec…
Smartphone trend lifts HTC revenues (source: FT)
July 29, 2010 – The Taiwanese smartphone maker is emerging as one of the biggest beneficiaries from the growing popularity of smartphones, as it reveals a 58% jump in…
Bulgari Opens New Boutique At Shanghai IFC
July 29, 2010 – At 340 square meters, Bulgari’s new Shanghai IFC boutique is not only the newest but also the largest in east China.
Developer Planning Cambodian Casino To Entice Chinese Tourists
July 29, 2010 – As Macau tries to get visiting tourists from mainland China to spend more time and money away outside of the casino, Southeast Asian countries are tak…
India-EU trade opening pact likely this year: Sharma (source: The Economic Times)
July 29, 2010 – India-EU trade opening pact likely this year: SharmaIndia-EU trade opening pact likely this year: Sharma (source: The Economic Times) – Share on Twitt…
World economy: The rising power of the Chinese worker (source: Economist)
July 29, 2010 – In China’s factories, pay and protest are on the rise. That is good for China, and for the world economyCHEAP labour has built China’s eco…
China’s labour market: The next China (source: Economist)
July 29, 2010 – As the supply of migrant labour dwindles, the workshop of the world is embarking on a migration of its ownTHE angrier they become, the less intimidati…
Zhou Chunya: Let Luxury-Arts Partnerships Increase Art Appreciation In China
July 28, 2010 – Zhou Chunya penned an interesting op-ed this week concerning the growing number of luxury-arts partnerships, writing that although they have their det…
5 Things We Know About Hèrmes’ New China Brand, Shang Xia
July 28, 2010 – In preparation for the mysterious luxury brand’s unveiling, rather than throwing out more what-ifs or maybes, let’s look at what we actually know abou…
Historic Peace Hotel Reopens On Shanghai’s Bund
July 28, 2010 – As new constructions continue to reshape its skyline, Shanghai is also in the midst of a restoration boom aimed at reclaiming parts of the city to the…
How Are Macau’s Plans To Become A Tourist Mecca Progressing?
July 27, 2010 – New rules imposed by Beijing to decrease dependence on gaming revenue last year spurred efforts by Macau officials to attract more mainland Chinese to…
Chinese Graphic Novel Series “Daomu” To Debut In America This December
July 27, 2010 – The upcoming American launch of “Daomu,” or “Tomb Raider,” will be the first for a franchise that will later include video games, an animated series,…
Luxury Giants “Burning Bridges” With Chinese Partners
July 27, 2010 – Last month, Burberry became the latest fashion house to buy out its Chinese franchises in an effort to unify its brand identity, and in recent years t…
Hugo Boss Signs JV Agreement With Rainbow Group (Follow-Up)
July 26, 2010 – Hugo Boss executives have previously announced that the company plans to open around 20 new locations per year in China, a plan which looks even more…
