Asia Pacific Business News

Vodafone seeks more time to reply to Indian tax claim

AFP - Sunday, November 22

NEW DELHI (AFP) - - British mobile phone giant Vodafone Group Plc has sought an extra two months to reply to a two-billion-dollar Indian tax claim over its purchase of India's third-largest mobile operator. More »

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Pakistani c.bank buys 145.65 billion rupees of t-bills
Reuters - Saturday, November 21
KARACHI, Nov 21 (Reuters) - Pakistan's central bank bought back 145.65 billion rupees ($1.74 billion) of treasury bills on Saturday under 10-day reverse repo contracts at 12.20 percent to inject liquidity into a tight money market.
South Korea exports up 29 pct in first 20 days of Nov
Reuters - Saturday, November 21
SEOUL, Nov 21 (Reuters) - South Korea's exports rose 28.8 percent in the first 20 days of November from a year earlier, while imports fell 2.1 percent, preliminary data showed on Saturday.
Taiwan likely to issue about T$450 bln govt bonds in 2010
Reuters - Saturday, November 21
TAIPEI, Nov 21 (Reuters) - Taiwan is set next month to finalise the amount of government bonds it plans to issue next year, with a budget likely below this year's level, government officials said on Saturday.
S.Korean shipbuilder STX cuts 351 jobs in France
AFP - Saturday, November 21
SAINT-NAZAIRE, France (AFP) - - South Korean shipbuilding giant STX is cutting 351 jobs in France through voluntary departures at the historic Saint-Nazaire shipyard, company officials said on Friday.
Malaysia issues China's ICBC local banking licence
AFP - Saturday, November 21
KUALA LUMPUR (AFP) - - Malaysia's finance ministry has issued a commercial banking licence to China's largest bank, the country's central bank announced Friday.
Sri Lanka reserves 'comfortable' after bailout: IMF
AFP - Saturday, November 21
COLOMBO (AFP) - - The International Monetary Fund said Friday Sri Lanka's foreign reserves have reached "comfortable levels," helped by a bailout package, but economic growth was still below potential.
India moves to defuse sugar cane price row
AFP - Saturday, November 21
NEW DELHI (AFP) - - The government promised Friday to ensure that sugar cane farmers do not suffer as it sought to defuse a major row over pricing that has stalled parliamentary proceedings.
China boosts world steel output: association
AFP - Saturday, November 21
PARIS (AFP) - - World steel output rose 13.1 percent in October from the level of output a year earlier, driven largely by production in China, the World Steel Association said on Friday.
Asia's luxury car market 'picking up': Rolls-Royce
AFP - Saturday, November 21
NEW DELHI (AFP) - - Rolls-Royce said Friday the market for its super-luxury cars was picking up dramatically across Asia as the effects of the global financial crisis recede.
US envoy pans media coverage of Obama China visit
AP - Saturday, November 21
BEIJING - Washington's ambassador to Beijing hit out Friday at negative U.S. media coverage of President Barack Obama's visit to China, saying it failed to take into account important progress on many issues.
Sony to launch online download service for TVs
AFP - Saturday, November 21
TOKYO (AFP) - - Sony Corp. aims to launch next year a new online service that will allow people to download content such as music and movies to their televisions and other electronic gadgets, a top executive said Friday.
Pakistani stocks end higher; rupee weaker
Reuters - Saturday, November 21
KARACHI, Nov 20 (Reuters) - Pakistani stocks ended up on Friday as investors bought shares on hopes of a cut in the key policy rate when monetary policy is announced next week, dealers said.
AirAsia profits climb
AFP - Saturday, November 21
KUALA LUMPUR (AFP) - - Budget carrier AirAsia said on Friday its net profits rose in the third quarter, despite a downturn in the aviation sector, due to higher passenger numbers and cost-cutting measures.
Asia airlines emerge from slump: industry body
AFP - Saturday, November 21
SINGAPORE (AFP) - - Asia's airline industry is pulling out of a slump sparked by the global recession with signs passenger numbers are rising, a regional body said Friday, but there were warnings a rebound will be slow.
FACTBOX-Capital control measures in Asia
Reuters - Saturday, November 21
Nov 20 (Reuters) - South Korea's foreign currency liquidity measures unveiled on Thursday may push local banks' costs higher, but any increase will be "marginal", a top financial regulator said.
US lawmakers may penalise China over rigid yuan
AFP - Saturday, November 21
WASHINGTON (AFP) - - US lawmakers criticized US President Barack Obama's administration on Thursday for not pressuring China enough over its rigid currency as they set the stage for slapping import duties on Chinese goods.
Deflation returns to Japan as rates stay low
AFP - Saturday, November 21
TOKYO (AFP) - - Japan's central bank left its super-low interest rates unchanged on Friday as the government declared for the first time in more than three years that Asia's biggest economy is in a phase of deflation.
Sony hopes online service will build brand loyalty
AP - Saturday, November 21
TOKYO - Sony's new online service connecting the whole range of its gadgets to downloadable content like movies and games should help build brand loyalty, a top executive said Friday.
China's CNPC agrees to expand Sudan refinery
AP - Saturday, November 21
SHANGHAI - China National Petroleum Corp., the country's biggest oil and gas producer, said Friday it has signed agreements with Sudan to expand a refinery and swap oil production assets.