Archive for the Business Asia and Oceania News Category
New Zealand dairy giant Fonterra expands investment in Malaysia
AUCKLAND, New Zealand, - The New Zealand dairy products giant Fonterra, has spent 9.8 million NZ dollars (7.3 million U.S. dollars) in upgrading its plant in Kuala Lumpur as a sign of its confidence in the Malaysian market after signing a free-trade agreement with the country at the weekend.
S Korean banks raise rates on household loans to 11-year high in Sept.
SEOUL, South Korean banks’ household lending rates grew at the sharpest rate in 11 years and a half in September amid wide expectations on the central bank’s key rate hike, the central bank said Wednesday.
Economy is operating at spare capacity: Australian Treasurer
CANBERRA, The latest inflation figures show the economy is operating at spare capacity, Australia’s Treasurer Wayne Swan said Wednesday.
Japan’s major automakers sales, exports slump in first half of 2009
TOKYO, - Japan’s major automakers on Wednesday painted a gloomy picture of the first half of the fiscal year for the nation, with both sales and domestic production decreasing year on year, in a further sign that any full economic recovery for the nation will likely take a long time.
No trigger for large rate rise from CPI, Australian economists
CANBERRA, The Reserve Bank of Australia (RBA) is unlikely to raise the cash rate by 50 basis points when it holds its board meeting next Tuesday, according to market economists.
Philippine central bank to maintain market discipline amid huge fund inflow
MANILA, The Philippine central bank assured Wednesday that market discipline will be maintained and regulatory safeguards will remain in place in the event the flow of foreign funds proves to be overwhelming over the near and medium term.
Australia introduces plan to help low income earners
CANBERRA, - Australian Prime Minister Kevin Rudd announced Thursday a 33 million Australian dollar (30.4 million U.S. dollars) plan to help struggling low income earners hit by the global financial crisis.
EC funds software industry development in Vietnam
HANOI, - The European Commission (EC) will provide 150,000 euros (223,000 U.S. dollars) to support the development of software business in Ho Chi Minh City of Vietnam, the local newspaper Liberty Saigon reported Thursday
Singapore’s retail sales down 5.2% on-year in August
SINGAPORE,- Singapore’s retail sales in August fell by 5.2 percent compared to the same period last year, official data showed on Thursday.
Australian Reserve Bank hints at further rate rises
CANBERRA,- Australia’s Reserve Bank Governor Glenn Stevens on Thursday hinted at further rate rises as the economy recovered.
Singapore develops into regional franchise hub: official
SINGAPORE, The franchise industry in Singapore generated some 8 billion Singapore dollars (5.59 billion U.S. dollars) in revenue last year, a Singapore official said on Thursday.
S Korea’s Hyundai Group to build vehicle assembling factory in Cambodia: ambassador
PHNOM PENH,- Hyundai Company of South Korea will build a vehicle assembling factory in Cambodia, South Korean ambassador to Cambodia said on Wednesday.
Bank of Japan holds key interest rate unchanged, sees positive signs for economy
TOKYO,- The Bank of Japan (BOJ) decided Wednesday to hold interest rates unchanged at 0.1 percent, saying that it sees positive signs in the economy at the conclusion of a two-day policy board meeting.
Vietnam ministry put forth 3 proposals to boost national economy in 2010
HANOI, The Vietnam Ministry of Planning and Investment (MPI) put forth three proposals on the country’s stimulus economic measures to be implemented in 2010, the local newspaper Vietnam Economic Times reported Wednesday.
Australian company secures UN contract in Afghanistan
CANBERRA, A medical services provider has become the first Australian company to be awarded a major contract supporting the United Nations (UN) in Afghanistan, Australian Associated Press reported on Wednesday.
Australian Reserve Bank lifts interest rates
CANBERRA,- The Reserve Bank of Australia (RBA)on Tuesday raised the cash rate by 25 basis points to 3.25 percent following its monthly board meeting.
Philippine September inflation rate rises to 0.7%
MANILA,- High food prices pushed Philippine inflation rate in September up to 0.7 percent from a year earlier, the government said Tuesday.
S Korea likely to post contracted rice production in 2009
SEOUL, South Korea’s rice production is likely to decline 3.3 percent in 2009 mainly due to a decrease in the amount of land used for rice paddies, a government report showed Tuesday.
Sales of imported automobiles in Japan fall
TOKYO,- Sales of imported foreign automobiles in Japan fell by 16.6 percent in the first half of fiscal 2009, reflecting an overall decline in car sales in the nation and the challenging conditions of the global economy, according to data released Tuesday by the Japanese Automobile Importers Association.
S Korea’s foreign exchange reserves rise to 15-month high in September
SEOUL, - South Korea saw its foreign exchange reserves jump to a 15-month high in September mainly due to a rise in the U.S. dollar-converted value of assets denominated in other currencies, the central bank said Tuesday.
Green cars continue rise in Japanese auto market
TOKYO, - Hybrid cars, which use both gasoline and electricity, continued to dominate Japan’s auto making sector, according to statistics released by the Japan Automobile Dealers Association (JADA) on Tuesday.
