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Tokyo, Seoul end 14-year currency swap program amid chilled ties
TOKYO - Japan and South Korea have let their 14-year-old currency swap programme expire amid chilled bilateral relations.While a currency swap accord between two countries is aimed at enabling each...
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Foreign players still waiting to cash in on corner shop surge
YANGON - Convenience stores have been sprouting up in Myanmar since the junta made way for a civilian government in 2011, replacing roadside mom-and-pop shops.Under military rule, only domestic...
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Central Group eyes Thai border stores to draw traffic from neighbors
BANGKOK - Thai conglomerate Central Group is starting to turn its attention to slower-developing ASEAN countries, building stores along Thailand's borders in anticipation of brisk international trade...
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ANA bids for Skymark rehabilitation despite likely 5-year limit
TOKYO - ANA Holdings made an offer Monday to support Skymark's rehabilitation process, even though authorities likely will impose a time limit on the deal to maintain market competition."We want to...
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Malaysian public pension fund buying Japanese real estate
TOKYO - Malaysia's Employees Provident Fund is becoming the first public pension fund in Asia to invest in Japanese properties, taking advantage of the soft yen as well as stable real estate prices...
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Japanese watchmaker's mass layoff stirs China backlash fears
GUANGZHOU/SHANGHAI - When Japanese wristwatch maker Citizen abruptly shuttered its watch-parts factory in the southeastern Chinese city of Guangzhou in early February, nearly 1,000 workers there lost...
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Cheap oil a boon for Southeast Asia - with one exception
SINGAPORE - Oil prices will likely spiral to US$31 (S$42.02) per barrel by the end of the first quarter due to rising global oil inventories, according to Bank of America Merrill Lynch. This will be a...
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US Internet giants vie for foothold in fast-growing market
SILICON VALLEY - US Internet service juggernauts are diving into the burgeoning Indian market in hopes of staking out territory for future growth.Facebook, the operator of the world's largest social...
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Indonesian conglomerate investing $677 million in shopping site
JAKARTA - Chinese-Indonesian conglomerate Lippo Group plans to invest US$500 million (S$677.71 million) in a new online shopping platform to expand its consumer business in Indonesia, a group executive...
View ArticleThai utility Ratchaburi plans to invest S$540 million in 2015
BANGKOK - Thailand's largest private power producer, Ratchaburi Electricity Generating Holding Pcl , said on Thursday it plans to invest 13 billion baht ($399 million) in 2015, mostly on expanding...
View ArticleIndian state-owned banks' capital needs may be higher - cbank deputy...
MUMBAI - The capital needed by India's state-owned banks to fulfil Basel III requirements could be higher than the 2.4 trillion rupees (S$52.4 billion) estimated earlier, Reserve Bank of India Deputy...
View ArticleSamsung Electronics to freeze salaries for first time since 2009
Samsung Electronics said on Thursday it will freeze its South Korean employees' wages in 2015 for the first time in six years, after the world's top smartphone maker suffered a fall in profits in the...
View ArticleShareholders support Asian bid for Australian food group
SYDNEY - Shareholders of Australian food group Goodman Fielder on Thursday voted overwhelmingly in support of an Aus$1.34 billion (S$1.42 billion) takeover bid by an Asian consortium, the company...
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