Latest Asia Business News
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Hang Seng positive after delayed start
(29 mins ago) Stocks in Hong Kong opened up 0.18 percent after the start of trading was delayed by a severe rainstorm warning, and following a strong lead from the US and Europe. The benchmark Hang Seng Index rose 41.03 points to 23,407.4 in the first minutes of trade, with the market awaiting testimony to Congress from US Federal Reserve chief Ben Bernanke later in the ...
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Union takes Qantas concerns to airport
QANTAS is underpaying flight staff and importing human rights violations, the Transport Workers' Union (TWU) says. Shouting slogans that included "What's outrageous? Unsafe wages" and "Human rights on every flight", about 60 TWU members converged on Darwin International Airport on Wednesday. The union is holding its annual council meeting in Darwin this week and the ...
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Shangri-La Hotel Haikou an ideal choice for leisure and business travellers
If you’re the type of person who wants to get off the beaten tourist path without sacrificing luxury and comfort in the process, Shangri-La Haikou is for you. The capital of Hainan Island, China's smallest province, Haikou is a new tourist destination that few Western travellers have discovered. As a result, there is little infrastructure for English speaking visitors… but ...
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Australia Consumer Confidence Dives
was conducted in the week the Labor government delayed a long-promised return to a budget surplus. The government blamed a stubbornly high Australian dollar and lower commodity prices for a dramatic fall in revenues. It also came after the Reserve Bank of ...
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Why Microsoft Thinks Xbox One Is A Game-Changer
Alan Bowman, Regional VP for Interactive Entertainment Business at Microsoft Asia Pacific, explains why the company thinks its new game console product can take a bigger space in consumers' living ...
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Exchange rate policy still relevant for Singapore monetary authority chief
exchange rate policy remains Singapore's most potent tool against inflation, its government is relying more on special policy tools to nip bubbles in the bud before they form. The use of such macroprudential policies, including the recent property cooling measures, is becoming increasingly important in an era of cheap money, said Monetary Authority of Singapore (MAS) managing director Ravi ...
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Bank of Japan maintains policy cheers Abenomics
Japan's central bank pledged Wednesday to maintain its ambitious quantitative easing program, saying that economic conditions in the country are ...
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Nikkei up on BOJ optimism
(21 mins ago) Tokyo stocks maintained early gains and were up 1.12 percent in early afternoon trade after the Bank of Japan made its widely-expected announcement of no new easing measures. The benchmark Nikkei 225 index was up 171.79 points at 15,552.81 soon after the afternoon session started while the Topix index of all first-section issues was up 0.72 percent, or 9.12 points, at 1,279.51, ...
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Bank of Japan sees economy improving
(1 hr 4 mins ago) Japan's central bank says the world's third-biggest economy is "picking up'' as demand recovers in other countries and remains resilient at home. The Bank of Japan ended a policy meeting on Wednesday with no change to its strategy of doubling the monetary base for the sake of reaching a 2 percent inflation target and jolting the economy out of two ...
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Economic Report Bank of Japan ups economic outlook
LOS ANGELES (MarketWatch) -- The Bank of Japan raised its economic assessment at the end of its two-day meeting on Wednesday, while holding its policy ...
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HCL Infosystems Q3 net up 3 pc
Tech Mahindra said its March-quarter consolidated net profit rose 24.4 per cent to Rs 377 crore. The results came out after the close of markets on ...
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Bank of Japan says no new easing measures
The Bank of Japan (BoJ) on Wednesday held off fresh easing measures, saying after a two-day policy meeting that its continuation of steps introduced last month would help Japan overcome ...
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STOCKS NEWS SINGAPORE-Singapore banks rally running out of steam - Macquarie
Tue May 21, 2013 11:00pm EDT Singapore banks' shares may be near the end of their rally as their first-quarter results represent a short-term top and business activity is expected to cool off in the coming quarters, said Macquarie Equities Research. "We believe the rally in Singapore bank stocks is looking tired and we would look to pare down holdings at current levels," Macquarie ...
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Kyle Bass Bets on Full-Blown Japan Crisis
Kyle Bass hopes he is wrong, and so may everyone else, as the danger predicted by the founder of Dallas-based Hayman Capital is nothing less than a full blown financial crisis in the world's third-largest economy, Japan. While the hedge-fund trade of the year has been to short the yen and buy Japanese stocks placed for an export boom, Mr. Bass sees in "Abenomics" - stimulus from ...
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China Property Boom Keeps on Chugging
At the end of March, China's newly installed premier Li Keqiang publicly reiterated the government's determination to rein in rising property prices and a resurgent investment binge in the country's real estate market. But by every measure the market continued to boom in April, with prices, sales and investment in new buildings all accelerating from March. New house prices in 70 ...
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Imports exports down PBS
ISLAMABAD: Imports and exports of goods in Pakistan have fallen, according to the Pakistan Bureau of Statistics (PBS), which reflect a contracting economy in FY13. Imports of petroleum and its products amounted to $12.36 billion between July 2012 and April 2013 as compared to the same period in the preceding fiscal year. The data released by the PBS also shows import of petroleum products rose ...
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Johnson Johnson to wrap up Pakistan operations
LAHORE: Johnson & Johnson Pakistan (Pvt) Limited has decided to wrap up its operations in Pakistan, according to industry sources. However, the company has refused to comment on the issue as yet. The American pharmaceutical giant listed on the New York Stock Exchange is the fifth pharmaceutical multinational to decide to end the operations of its subsidiary in Pakistan in the past few years. ...
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Khalid Mansoor becomes CEO of Hubco
KARACHI: Khalid Mansoor has joined Hub Power Company Limited (Hubco) as Chief Executive. In a meeting held on May 20 in Karachi, the company's board of directors appointed him Chief Executive with immediate effect. Previously, Mansoor served as the Chief Executive Officer of Algeria Oman Fertilizer Company. Before that, he served as President and Chief Executive Officer of Engro Fertilizers ...
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Revenue body suggests tax on foreign remittances
KARACHI: The Federal Board of Revenue (FBR) has suggested that the government should impose tax on the inflows of foreign exchange through remittances, as exemptions allowed have been grossly misused, official sources said on Tuesday. The tax managers have reiterated their demand to bring these transactions into the tax net as huge amount was returned to Pakistan that was sent aboard through ...
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Pakistans exhibition in California in November
KARACHI: The Pak-US Chamber of Commerce announced to host the first Pakistan business, trade, and investment exhibition and conference in San Francisco, California in collaboration with the state of California and Events Unlimited in November 2013. "The state of California is officially supporting the two-day event," Mian Shahbaz, president of the chamber, told media from the US via a ...
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Officials release plastic scrap on fake certificates
LAHORE: Fake clearance certificates are being used to import potentially hazardous plastic scrap, reveal official documents available with The News. Customs authorities have unearthed the involvement of their own employees in securing the illegal release of a plastic scrap consignment of 19 tonnes. The consignment was imported by a local businessman from the UAE in April. Sources said fake ...
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Basmati exports decline by 40 percent
KARACHI: Basmati exports have declined by around 40 percent to 497,000 tons in the first 11 months of the ongoing fiscal year as compared to 834,000 tons achieved in the previous year, Rice Exporters Association of Pakistan (REAP) reported on Tuesday. "The signification increase in the cost of production has declined the exports," Jawed Ali Ghori, chairman of the association, said. He ...
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My meeting with Nawaz Sharif
I had the opportunity to lead an 80-member high-level business delegation of the Confederation of Indian Industry (CII) to Pakistan in May 2012 for the 2nd India-Pakistan Economic Conference, held as part of the Aman ki Asha peace campaign, jointly initiated by the Jang Group and the Times of India. We received a very warm welcome in Pakistan and were overwhelmed by the hospitality, generosity ...
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Privatise PSM PR and PIA says PBC chairman
LAHORE: Pakistan Business Council (PBC) Chairman Sikandar Mustafa Khan has said the transparent privatisation of public sector enterprises, such as the Pakistan Steel Mills (PSM), Pakistan Railways (PR) and Pakistan International Airlines (PIA), is necessary to ensure the path to economic recovery. The PBC chairman said there is a need to encourage local and foreign investments in Pakistan and ...
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Agri credit disbursement up by 15.74 percent
KARACHI: Agricultural credit disbursement by commercial banks surged by 15.74 percent on year-on-year basis to Rs259.1 billion in the first 10 months of the current fiscal year, the central bank revealed on Tuesday. Banks disbursed Rs223.8 billion to farmers during the same period last year, it said. Overall credit disbursement by five major commercial banks, including Allied Bank Limited, Habib ...
Taiwan Focus
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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
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