Latest Asia Business News
RSS-
Eurovision debacle Germans blame Eurozone crisis
Eurovision Song Contest, blaming chancellor Angela Merkel's tough stance in the Euro zone crisis for their failure to win any points from 34 of the 39 countries voting. Denmark's Emmelie de Forest won the event, watched by around 125 million people across Europe, with 281 points while German act Cascada was 21st out of 26 countries, getting just 18 points from Austria, Israel, Spain, ...
-
Holdens signs similar to Mitsubishi when it closed Adelaide plant
HOLDEN is in danger of shutting its manufacturing operations and could bring the rest of the car industry down with it. That's the warning from University of Adelaide Associate Professor John Spoehr, who says he is seeing similar signs to the lead-up of Mitsubishi's Adelaide factory closure in 2008. LABOR MP SEEKS TARIFFS TO SAVE HOLDEN JOBS "I'm very concerned about the ...
-
Tesco clothing brand plans international expansion
said on Sunday it planned to open more than 50 new franchise stores worldwide over the next five years.F&F, which opened its first franchise store in Saudi Arabia last year, said it would open shops across the Middle East and in Kazakhstan, Georgia, Armenia and Azerbaijan.Up to six stores will be opened this year, with the first in the Kazakh capital Astana next month.F&F gave no details ...
More Asia Business News
RSS-
Toyota plans to increase lithium-ion battery output for hybrid cars
Toyota is planning to increase production of lithium-ion batteries by six times, as the automaker prepares to eventually use them in its flagship Prius gasoline-electric hybrid cars, ...
-
Toyota Auris Hybrid car review
Toyota's Auris Hybrid - an eco car that does almost 75 miles to a gallon with just a nostril caressing whiff of emissions - 85g/km. The ethically pure Auris is as clean as Jay Rayner's dinner plate...The notion of a green car will, of course, always be oxymoronic. Like false truths, turkey ham or Arsenal trophies, some pairings seem poles apart. But manufacturers are working hard at ...
-
Govt mulls putting cap on preferred seats on airlines
Following the recent exercise of unbundling various services like charging for privileged seats, meals and excess baggage, several airlines put a price on seat ...
-
GoM on PSU reforms to meet on May 22
A series of scandals and the subsequent sackings of UPA ministers may have left Manmohan Singh alone, but he’s still got his right hand men in bureaucracy to lean ...
-
FIIs invest Rs 12000 cr in stock market
Indian equity market so far this month. With this, the total foreign investment in the country's equity market has reached Rs 73,029 crore ($13.5 billion) since January. During May 2-17, foreign institutional investors (FIIs) were gross buyers of shares worth Rs 37,997 crore, while they ...
-
These Tech Giants Covered by the Cloud Too Pros
cloud computing , which allows consumers and businesses to access data and applications anywhere, anytime. "You have to focus on cloud as a tech investor at this point," Ken Allen, technology portfolio manager at T. Rowe Price, told CNBC this week. "It cuts across the industry, across subsectors." Given cloud computing's potential, Wall Street analysts remain bullish on ...
-
Mega industrial estate planned to woo Chinese investors
LAHORE: Punjab Industrial Estate Development and Management Company (PIEDMC) plans a mega industrial estate spread over 100,000 acres where it intends to establish a Special Export Zone to facilitate Chinese investors interested in relocating their industries to Pakistan, S M Tanveer, chairman of PIEDMC, told The News on Saturday. Two years ago, the Chinese offered to establish dedicated ...
-
PML-N capable of reviving economy
LAHORE: The economic team of Pakistan Muslim League-Nawaz (PML-N) led by Ishaq Dar is capable of reviving the economy of the country as they did in their tenure in 1997-99, which was as challenging as of today particularly after 1998 bomb blasts by Pakistan, said economists. The Pakistan's economy is inherently very strong and it could be rescued even from the current brink of disaster if ...
-
Customs officials creating hurdles in seafood exports
KARACHI: The export of seafood is suffering at the hands of customs authorities, who are allegedly demanding bribes worth Rs30,000 per consignment, according to the Pakistan Fisheries Exporters Association (PAKFEA). A customs official, requesting anonymity, said the FBR has requested the Pakistan Customs Services (PCS) to prepare and submit a report on the complaints being received by seafood ...
-
Wheat buying at record low
KARACHI: Provincial food departments and the federal procurement agency, PASSCO, have so far procured less than 50 percent of its set target for wheat in the current financial year. "Provincial food departments and the Pakistan Agricultural Storage and Services Corporation(PASSCO) have so far procured a mere 3.2 million tons wheat, which is less then 50 percent of the set target of 7.1 ...
-
Nawaz Sharifs economic dilemma
Pakistan's new government's first - and stiffest - challenge will come from the economy: wiht the fiscal deficit at least a staggering nine per cent of the GDP. That's almost twice the target - and combinded with annual economic growth between three and four per cent makes for dismal reading. All this combines to make economic recovery tough for PML-N chief Nawaz Sharif - as he ...
-
Businessmen reject power tariff hike
KARACHI: The business community has opposed the raise in electricity tariff by Rs5.82 per unit and termed it an unjustified act by the caretaker government. In a statement issued on Saturday, Zubair Ahmed Malik, president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), said that the caretaker government is not empowered to take such decisions and it should wait for the ...
-
Oil price probe widens
LONDON/WASHINGTON: A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands, while a key US senator on Friday called for the Justice Department to join the investigation. Dutch trading house Argos Energies, a mid-sized trading company that deals in physical oil products and owns storage facilities, was visited by ...
-
Pakistan must focus on hydropower
ISLAMABAD: Irfan Mirza, an expert on energy sector, has said that Pakistan should greatly concentrate on hydroelectricity production in the coming days, a statement said on Saturday. There is no reason that can be attributed for the shortage of energy in Pakistan, he said. "To redress the energy problem, we tilted our focus to thermal and we opted for oil-based products," he said, ...
-
Drive against bottled water launched
KARACHI: The Pakistan Standards & Quality Control Authority (PSQCA) has launched a campaign against bottled drinking water, an official said. Pir Bux Jamali, director general of PSQCA, considered the complaints regarding bottled drinking water and directed all the directors to conduct strict monitoring of bottled drinking water manufacturers across the country and re-verify their ...
-
Lahore auto fair in 2014
LAHORE: A three-day Pakistan Auto Show will take place in March in Lahore, to showcase the development of the country's automotive industry and auto parts manufacturing sector, its organisers said on Saturday. The annual event will be held at the Expo Centre from March 6 to 8, its organisers, the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), announced ...
-
NBP Ferguson sign accord
ISLAMABAD: The National Bank of Pakistan (NBP) and AF Ferguson & Co (PwC) have signed a landmark agreement for Business Process Review and Coso implementation at the NBP's head office. The NBP President Dr Asif A Brohi said, "NBP is committed to achieve the leadership position in the industry by adopting international best practices and ensuring consistent compliance with ...
-
Commodity prices mainly retreat
LONDON: Commodity prices mostly weakened this week, hit by a stronger dollar and falling demand for raw materials amid persistent concerns about the state of the troubled global economy, according to analysts. Figures published Wednesday revealed that the dogged recession across the Eurozone has snared key economy France. In Brussels, French President Francois Hollande tipped 'zero' ...
-
Stock market expected to remain bullish next week
Celebrating the successful general elections, the Karachi Stock Exchange benchmark 100-index surged by 621 points in the week to a new all-time high of 20,537.03 points, while during the next week the index would continue to move upward, if there appears no political setback, dealers said. Analysts say that the market witnessed correction during the week and could further go through that but ...
-
Port Qasim handles 61825 tons of cargo
Port Qasim handled a cargo volume of 61,825 tons during the last 24 hours that included 34,600 tons of imports and 27,225 tons of exports, the Port Qasim Authority (PQA) reported on Saturday. Accordingly, the port handled imports, including containerised cargo (21,600 tons), and palm oil (13,000 tons). It handled exports, including containerised cargo (25,280 tons), and rice (1,945 tons). Berth ...
-
Rupee to remain under pressure
Karachi The local currency market witnessed a mixed trend this week. However, it may see volatile trading session in the coming week, amid payment of another installment of loan to the International Monetary Fund (IMF), which is scheduled for May 24, currency experts said. Traders have expressed concern over the dwindling foreign exchange reserves of the State Bank of Pakistan (SBP) and the ...
-
Gold hits one-month low
Gold fell for a seventh straight session on Friday, its longest losing streak in four years, as the dollar rose to the highest since 2008 after some Federal Reserve officials said the central bank should end its stimulus for the US economy. Investors also rejected gold's safe-haven lure after a May reading for US consumer sentiment hit a near six-year high, showing Americans are feeling ...
Taiwan Focus
-
Taiwan investing in biotech sector
Taiwan’s economy has seen massive growth in the last few decades, but one industry has been in decline and a development project by the Academia Sinica is expected to reverse that decline, once environmental issues have been cleared up.
Taiwan is one of the Four Asian Tigers; this little island off the coast of mainland China has experienced rapid development in just a few decades and has become a major hub of manufacturing, high-tech industry, shipping and tourism. Read more
News from around our Network
