Latest Asia Business News
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FOMC Decision Critical to Oil Prices
The U.S. dollar and its reaction to the Federal Reserve Chairman Ben Bernanke's Congress testimony on Wednesday will prove central for crude oil price direction this week, according to CNBC's weekly survey of market sentiment. Nine out of 13 respondents, or about 69 percent, expect prices to soften this week while two forecast gains and the remaining two are neutral on the market. ...
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Hang Seng Shanghai open higher
(28 mins ago) Stocks in Hong Kong opened 1.3 percent higher following a three-day weekend, reflecting a bullish mood on Wall Street, which ended last week at another all-time high. The benchmark Hang Seng Index was up 301.11 points to 23,383.79 in the first few minutes of trade. Shares in Shanghai were up slightly in early trading due to buying of property stocks, dealers said. The benchmark ...
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Qantas find favour with business travellers while Virgin flies steady
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Toyota to boost production of lithium-ion batteries
(MENAFN) Toyota Motor Corp is preparing to increase production of lithium-ion batteries to use them in the company's Prius, reported Reuters citing the Nikkei.The lithium-ion batteries will replace the nickel-metal hydride batteries that the automaker is using on its hybrid cars.This new battery is smaller and lighter, which will help improving the fuel economy.It's worth noting that ...
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Central Banks in Driving Seat for Asia Markets
A two-day Bank of Japan meeting, a speech by the Federal Reserve's chief and minutes from the latest Reserve Bank of Australia gathering put central banks in focus for Asian markets in the week ahead. The Bank of Japan (BOJ) concludes its policy meeting on Wednesday and economists are not expecting any significant changes so soon after the central ...
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Nikkei set to scale fresh 5 12-year highs
Shibulal cited the recent Infosys 3.0 strategy as a transformation exercise that could set the company on a high-quality growth path in the long ...
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China President Makes First Foreign Trip to India
India's Prime Minister Manmohan Singh told visiting Chinese President Li Keqiang on Sunday a recent military standoff in the Himalayas could affect relations between the two countries as they looked to boost bilateral trade. At a meeting shortly after Li arrived in India on his first foreign trip, Singh said relations were affected when "peace and tranquility" on the border was ...
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Qantas crippling the Territory
NT Qantas is crippling the Territory's tourism industry, the national Transport Workers Union has said. The airline cancelled its seven flights a week to Central Australia, as well as direct flights between Canberra and Darwin, in February.TWU national secretary Tony Sheldon, in Darwin for the union's national council meeting today, said government needed to make sure airlines were ...
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Qantas crippling the Territory
Qantas is crippling the Territory's tourism industry, the national Transport Workers Union has said. The airline cancelled its seven flights a week to Central Australia, as well as direct flights between Canberra and Darwin, in February. TWU national secretary Tony Sheldon, in Darwin for the union's national council meeting today, said government needed to make sure airlines were ...
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Banned Bangladesh Factory Still Operates
VF Corp. VF confirmed on Saturday it was still using Liz Apparels to make its clothing following an inspection ordered by the factory owner, Nassa Group, on May 12. VF, whose other clothing brands include North Face, Timberland and Nautica, said its philosophy was to "stay and improve" working conditions."We are in daily contact with the facility and VF's leadership is ...
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Toyota seen to ride on PH growth
MANILA, Philippines--The group of taipan George Ty expects its automotive business under Toyota Motor Philippines (TMP) to get a big boost from the rise of the domestic economy as per capita gross domestic product (GDP) is seen to hit $3,000 in the next few years. GT Capital, the parent company of TMP, is ready to ramp up manufacturing output and expand its distribution network to meet the ...
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HC clears Vodafone-Indus tower merger
MUMBAI: A recent Delhi high court order allowing the merger of Vodafone Essar's tower assets into Indus Towers will finally clear all legal hurdles for the tower company - a joint venture between India's top three private mobile operators Bharti Airtel, Vodafone ...
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Take away 3 RIL gas finds DGH
Shibulal cited the recent Infosys 3.0 strategy as a transformation exercise that could set the company on a high-quality growth path in the long ...
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Everstone nets Rs 1.3k cr for warehouses
private equity firms, has raised $250 million (over Rs 1,350 crore) from global investors to build industrial warehousing in the country. The just-concluded fund raise probably signals the return of long-term risk investors to India investment story, which they had put on hold for last 24 months. Everstone is developing a network of warehousing centres through IndoSpace Logistics Parks, a joint ...
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Pesky calls SMSs back Trai looks for a fix
real estate development in town, pesky messages have made a strong comeback. What's worse, there is a sudden rise in the number of phone calls, several of which are soliciting donations from non-governmental organizations (NGOs) that you have probably never heard of. Then, there are agents of some of the ...
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Yahoo board approves $1.1-billion purchase of Tumblr report
The Yahoo Inc. board has approved the $1.1-billion (U.S.) acquisition of Tumblr, a New York-based blogging service, according to The Wall Street Journal.The purchase was a foregone conclusion, said the website AllThingsD.com, citing sources close to the tech giant's board.The deal is just the latest effort by Yahoo to cultivate a hipper image since the arrival of CEO Marissa Mayer last ...
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Google boss Eric Schmidt defends British tax affairs
British tax . Writing in Britain's Observer newspaper, Schmidt insisted that Google "has always aspired to do the right thing" and that the company pays "significant" amounts of British corporate, local and employment tax. But he added: "International tax law could almost certainly benefit from reform." Margaret Hodge, chairwoman of the British ...
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Incorrect tax withholding most frequent payroll error EY
Ernst and Young (E&Y) said. E&Y's survey, Global Payroll: Myth or Reality, reveals majority of multinationals want improvement in their payroll practices, yet they are skeptical about whether payroll providers can deliver a comprehensive global solution. The survey covered 161 respondents comprising global senior payroll ...
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Military Attack wins Singapore Airlines Cup to make it Hong Kongs night
Military Attack and Zac Purton are led in after the Singapore Airlines International Cup by George Moore, son of trainer John Moore. Photograph: Neville ...
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Brands Advertise Full-Force at Cannes
CANNES, FRANCE--The Cannes Film Festival is in full swing, and the key players from the film industry have jetted off to the south of France for 12 days of screenings, meetings and parties. But it's not just Hollywood A-listers who have made the trek out to the South of France. Brands from Belvedere to Magnum ice cream have ubiquitous presences during the festival. They pay to sponsor ...
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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, ...
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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 ...
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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 ...
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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