Latest Asia Business News
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JS Bank goes Solar
Karachi: After saving your money for years, JS Bank is now saving energy for you. JS Bank has been at the forefront of innovative solutions that provide unparalleled convenience. Continuing in this pioneering spirit, JS Bank has initiated a Go Green drive converting the Dhoraji branch in Karachi to solar power. That means all computers, servers; ATM and teller stations are now powered by solar ...
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Karachi ports handle 242357 tons of cargo
The Karachi Port and Port Qasim handled a cargo volume of 242,357 tons during the last 24 hours that included 164,668 tons of imports and 77,689 tons of exports, the two ports reported on Wednesday. Accordingly, the Karachi Port handled imports, including containerised cargo (31,906 tons), bulk cargo (9,979 tons), DAP (5,750 tons) and oil / liquid cargo (1,000 tons). It handled exports, ...
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Two mills buy cotton
Karachi Trade turnover of cotton increased to 10,770 bales (155 kilograms each) as two leading spinning mills of Punjab acquired significant number of bales to maintain inventories, a dealer said on Wednesday. Khanpur witnessed the highest trade of 4,700 bales at Rs6,700 per maund. The same station traded another 4,100 bales at Rs6,950 per maund on credit. Other markets traded the minimum of 100 ...
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IMF talks help 100-index recover 216 points
The Karachi bourse recovered from its slump in previous sessions on Wednesday to cross the 22,000 barrier once again on hopes that week-long discussions with the IMF for a possible $5 billion bailout package would be successful, dealers said. The marked gained 216.09 points on institutional buying on Wednesday. Furqan Punjani, deputy head of research BMA Capital, said local institutions and ...
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Gold slips for third day
Gold fell for a third straight session on Wednesday, hovering near the lowest level in four weeks, as a rally in stocks and investor caution over the Federal Reserve curbing its stimulus programme sapped support for bullion. Fed Chairman Ben Bernanke said last month the bank could scale back its $85 billion monthly bond purchases if the US economy strengthens, but a lack of clarity on the timing ...
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Brent holds above $106
Brent crude futures edged up to hold above $106 a barrel on Wednesday as investors looked to a meeting of the US Federal Reserve for clues on the outlook for its stimulus programme that has underpinned commodity prices. Global investors have been on edge since Fed Chairman Ben Bernanke suggested the central bank could be looking to roll back monetary stimulus, and a statement at the end of the ...
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Hang Seng slumps 1.5pc
(34 mins ago) Stocks in Hong Kong tumbled 1.52 percent at the open after the US Federal Reserve signalled it would likely begin curbing its huge bond-buying programme later this year. The benchmark Hang Seng Index fell 318.09 points to 20,668.80 in the first few minutes of ...
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Nikkei falls on U.S. stimulus withdrawal fears GS Yuasa soars
* Nikkei down 0.7 pct, Topix off 0.6 pct * Real estate shares down * GS Yuasa soars on battery JV with Bosch By Ayai Tomisawa TOKYO, June 20 (Reuters) - Japan's Nikkei share average fell on Thursday after Federal Reserve Chairman Ben Bernanke confirmed market fears that the U.S. central bank could trim its bond buying programme later this year, but a weakening yen lifted some exporters and ...
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Claims union boss blocked Toyota wage productivity talk
There are claims that a union official taking part in a recent emergency car industry summit dismissed Toyota Australia’s attempt to discuss labour costs and weak ...
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Emirates Qantas named top world airlines
While Emirates was honoured as the world’s best airline, new alliance partner Qantas has made a return to the top ten in the annual World Airline Awards 2013. Qantas jumped five spots from ...
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Garuda Indonesia Named The Worlds Best Economy Class By SkyTrax At Paris Airshow
Garuda Indonesia, the airline of Indonesia, was named "The World’s Best Economy Class" at the SkyTrax 2013 World Airline Awards at the Paris Air show yesterday. In addition to being voted "The World's Best Economy Class", Garuda was also named "The World’s Best Economy Class Seats" by SkyTrax – a result of Garuda Indonesia’s ...
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Qantas crew sue Rolls Royce over trauma
engine explosion mid-flight in 2010 , are suing the aircraft’s engine markers over trauma suffered during the incident. In November 2010, the A380 was flying from Singapore to Sydney when its Rolls Royce engine malfunctioned as it flew over Batam Island, Indonesia, News.com.au reported. Now, 17 crew members from NSW on board flight QF32 have lodged a class action against engine ...
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Nikkei expected to edge down on Feds stimulus signals
TOKYO, June 20 (Reuters) - Japan's Nikkei share average is expected to lose ground on Thursday after U.S. Federal Reserve Chairman Ben Bernanke said the central bank could trim its bond buying programme later this year, but losses may be contained by a weakening yen. Market players said the Nikkei was likely to trade between 13,000 to 13,300 on Thursday after rising 1.8 percent at 13,245 in ...
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Diving Rupee—Heres How Bad It Can Get for India
, which is hovering near lifetime lows, poses a threat to the recovery in Asia's third largest economy that is already on fragile footing, economists say. "I think rupee weakness is going to be a big issue - given how central the rupee is in determining the current account deficit, inflation and macroeconomic stability," said Vishnu Varathan, market economist at Mizuho Corporate ...
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Nirma founder sells land to JP Iscon for Rs 500 crore
Karsanbhai Patel has sold his 68,000 sq yard plot, called Nirma Farm, near Science City to a city-based developer, JP Iscon, for Rs 500 crore. The deal size makes it one of the biggest ones in recent times in Ahmedabad. The deal is said to have been sealed at Rs 75,000 per square ...
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What do vibrators Qantas and cider have in common
Qantas, vibrators and an acupuncturist and cider are among the Australian winners in the Design Lions category, with Droga5 and M&C Saatchi pitching up well. A collective of creative including The Monkeys creative partner Micah Walker and former Mojo colleagues Pim Van Nunen and Justine Armour picked up a Silver for their Smile Makers range of vibrators, launched last year. Droga5 had ...
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Nearly dozen cos announce bonus shares in 1 month
bonus shares for investors. Even as the markets remain volatile resulting in a poor appetite for stocks, companies are showering investors with bonus shares. Nearly a dozen companies including blue-chip ones have announced bonus shares in the past one month. While engineering behemoth Larsen & Toubro has recommended a 1:2 (one bonus share for two shares held) to commemorate its platinum ...
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AIRSHOW-Lockheed Mitsubishi sign deal for F-35 assembly in Japan
Wed Jun 19, 2013 5:02pm EDT PARIS, June 19 (Reuters) - Lockheed Martin Corp has signed a contract with Mitsubishi Heavy Industries Ltd to begin work on a final assembly and checkout plant (FACO) for the F-35 Joint Strike Fighter in Japan, the top U.S. arms maker said on Wednesday. Steve O'Bryan, Lockheed vice president of the $392 billion F-35 program, announced the contract agreement at ...
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Asian stocks mixed ahead of Fed announcement Nikkei rallies on exports
Asian stocks were mixed on Wednesday ahead of Fed Chairman Ben Bernanke’s speech later in the day. The U.S. Federal Reserve two-day meeting ends today and investors are looking for clues on the outlook for ...
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Ranbaxy 8 other companies fined Rs 1k cr
), is expected to appeal against the EU decision. Lundbeck has to pay damages of 94 million euros while the others fined include Alpharma (now part of Zoetis), Merck KGaA/Generics UK (Generics UK is now part of Mylan) and Arrow (now part of Actavis). In 2002, Lundbeck had entered into agreements with each of these companies to delay the entry of cheaper generic versions of its blockbuster ...
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Essar goes slow on realty plans
want to sell stakes or fully exit real estate projects of the unlisted group company Equinox Realty, signaling a cooling off of their ambitions to develop large scale residential and office buildings. Equinox, floated six years ago, is part of the $27-billion conglomerate in which brothers Shashi ...
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Airtel slashes 2G data fees by 90
KOLKATA: Telecom players are banking on data or mobile internet to rein in sagging growth in revenues. And they are now looking beyond the metros at tier-I & tier-II cities and rural belts to push data business. On ...
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Japan to maintain spending at FY2013 level-Nikkei
June 19 | Wed Jun 19, 2013 3:00pm EDT June 19 (Reuters) - Japan plans to cap spending, excluding debt payments, at the current level of about 70 trillion yen ($736.80 billion) for the next two fiscal years as part of efforts by Prime Minister Shinzo Abe to improve fiscal health, the Nikkei reported. Ministries and agencies will be asked to tighten their belts to curb any rise in social ...
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Bosch forms lithium-ion battery JV with GS Yuasa Mitsubishi
FRANKFURT | Wed Jun 19, 2013 2:10pm EDT FRANKFURT (Reuters) - German industrial group Robert Bosch GmbH ROBG.UL said on Wednesday it had agreed to work on next-generation lithium-ion batteries with Japan's GS Yuasa International Ltd. (6674.T) and Mitsubishi Corporation (8058.T). The companies intend to set up a joint venture to conduct research and development and provide sales and ...
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Road Test 2013 Toyota Avalon
PITTSBURGH (KDKA) – It looks like Toyota may have finally figured out a way to make the Avalon, well, cool. In previous incarnations of Toyota’s take on the big American family car, Toyota put in a lot of functionality, a lot of value and a lot of reliability — and that’s all well and good — but you gotta bring style and soul to the table if you want to go up ...
Hong Kong Feature
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Electoral reform hot topic for Hong Kong
Hong Kong is going through more growing pains, perhaps even the most uncomfortable since the city was handed back to Beijing by Britain. Pro-democracy advocates want to be able to vote for the entire legislative council, a direct challenge to Beijing.
Hong Kong was handed back to China in 1997. At that time, Beijing made an agreement with Britain that under a law called the Basic Law, all the civil liberties which were existent in Hong Kong at the time of the hand over would remain in place for at least 50 years, by which time it is envisioned, by the pro-democracy camp at any rate, that the Special Administrative Region will be fully democratic at any rate. Read more
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