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M’sia economic panel will do little to soothe markets

M’sia economic panel will do little to soothe markets

Chua said the absence of central bank governor Zeti Akhtar Aziz was “disturbing” and would limit the committee’s options in reviewing economic policies. KUALA LUMPUR: Malaysia’s bid to restore investor confidence with an economic task force including top bankers is insufficient given questions about a troubled state fund and the absence of the central bank […]

August 27, 2015 | By | Reply More
Panasonic to stop making batteries in Beijing, cut 1,300 jobs

Panasonic to stop making batteries in Beijing, cut 1,300 jobs

August 27, 2015 TOKYO: Japanese electronics giant Panasonic Corp will stop making lithium-ion batteries at its factory in Beijing this month, cutting 1,300 jobs as it faces stiff competition from South Korean rivals, the Nikkei business daily said on Thursday. The plant, which produces batteries for mobile phones and cameras mainly for non-Japanese brands, has […]

August 27, 2015 | By | Reply More
IMF chief Lagarde to visit Indonesia next week

IMF chief Lagarde to visit Indonesia next week

August 27, 2015 WASHINGTON: The International Monetary Fund managing director, Christine Lagarde, heads to Indonesia next week for talks with senior officials and a high-level Asian finance conference, the IMF said Wednesday. During her September 1-2 visit, Lagarde will meet with President Joko Widodo and other senior officials, including Bank Indonesia Governor Agus Martowardojo. The […]

August 27, 2015 | By | Reply More
Ten automakers are sued in US over ‘deadly’ keyless ignitions

Ten automakers are sued in US over ‘deadly’ keyless ignitions

Ten of the world’s biggest automakers were sued on Wednesday by US consumers who claim they concealed the risks of carbon monoxide poisoning in more than 5 million vehicles equipped with keyless ignitions, leading to 13 deaths. According to the complaint filed in federal court in Los Angeles, carbon monoxide is emitted when drivers leave […]

August 26, 2015 | By | Reply More
Wall Street is for sale – but is it cheap?

Wall Street is for sale – but is it cheap?

NEW YORK: During more than a week of stock market sell-offs, investors have been exhorted to use declines to pick up bargains – and with a 7.7 percent drop on the S&P 500 since August 17, stocks have certainly gotten less expensive. To determine how cheap they are, investment pros look at yields, earnings and […]

August 26, 2015 | By | Reply More
Sime Darby Q4 profit sinks 17 percent

Sime Darby Q4 profit sinks 17 percent

KUALA LUMPUR: Malaysian conglomerate Sime Darby Wednesday reported a 17 percent year-on-year fall in net profit in the fourth quarter due to a plunge in commodity prices and poor sales of vehicles and industrial equipment in key markets like China. The world’s largest listed palm oil producer by acreage said net profit for April-June was […]

August 26, 2015 | By | Reply More
Southeast Asian companies grapple with foreign debt worries

Southeast Asian companies grapple with foreign debt worries

Smaller companies and those without government links face the tightest squeeze and are likely to head the queue for equity funding, bankers say. JAKARTA/SINGAPORE: Indonesian and Malaysian companies with foreign currency debts may be forced to raise equity funds at steep discounts and restructure debt as the rupiah and ringgit currencies have weakened to 17-year […]

August 26, 2015 | By | Reply More
France to discuss Mistral sale to Malaysia

France to discuss Mistral sale to Malaysia

August 26, 2015 PARIS: France’s defence minister will discuss the sale to Malaysia of one of the Mistral helicopter carriers originally destined for Russia during a visit to the country, a source familiar with the talks said, confirming a report on news website latribune.fr. On his return from Malaysia, Jean-Yves Le Drian will also make […]

August 26, 2015 | By | Reply More
China oil rig to keep drilling in waters disputed with Vietnam

China oil rig to keep drilling in waters disputed with Vietnam

BEIJING: Aug 25 A Chinese oil rig at the centre of last year’s standoff between China and Vietnam will continue drilling not far from Vietnam’s coast, China’s maritime safety authorities said on Tuesday. The deployment of the $1 billion deepwater rig last year about 120 nautical miles off Vietnam’s coast, in what Vietnam considers its […]

August 26, 2015 | By | Reply More
Freeport says Indonesia copper exports dry up on payment impasse

Freeport says Indonesia copper exports dry up on payment impasse

JAKARTA: Aug 25 Freeport-McMoran said exports of copper from its giant Indonesian mine have slowed to a trickle over the past month as it faces new rules on how buyers pay for metal, with the government showing no sign of handing it a second waiver. Freeport, which is one of Indonesia’s biggest tax payers, won […]

August 26, 2015 | By | Reply More