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Indonesia’s Basri Sees Fuel Subsidies Infrastructure as Key
Indonesia’s new Finance minister Chatib Basri said cutting fuel subsidies and building more infrastructure will be his two main priorities. Reducing subsidies will strengthen the rupiah, Asia’s worst performer in the past 12 months excluding the yen, Basri said in a Bloomberg TV interview today with Rishaad Salamat. The land acquisition law, signed by President Susilo Bambang ...
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UBS predicts Malaysia’s 2013 GDP at below 5pct – The Star Online
Malaysia’s gross domestic product (GDP) is unlikely to surpass 5 percent in 2013, given the weaker 4.1 percent growth achieved in the first quarter of the year, according to UBS Investment Bank. ';GDP grew 4.1 percent in the first quarter. You need a pretty strong bounce-back to reach 5 percent in 2013,'; said UBS senior Asean economist Edward Teather via a tele-conference call ...
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Chinese PM begins Pakistan visit
Chinese Premier Li Keqiang arrives in Pakistan Wednesday for a two-day visit where he will meet prime minister-elect Nawaz Sharif as the long-time allies look to boost trade ...
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US looking to end Myanmar sanctions after landmark visit
A key US senator on Tuesday backed an end to US sanctions on Myanmar after a landmark visit by the country's reformist leader, signalling a new normalisation in relations despite rights ...
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Global factors are strong drivers of Asia hotels revenues.
A study of global and local factors that drive changes in hotels' revenue per available room (RevPAR) in eight major Asian cities found that the revenues for the hotels in these cities are strongly subject to global forces. "When we initially interviewed the hotel managers, they listed many local events and factors as potential drivers of their revenue, and they were not focused on ...
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Macau hosts Asia’s largest gaming expo
Gambling machines are displayed at the Global Gaming Expo Asia, a three-day fair of gambling innovations at the glitzy Venetian hotel in Macau on May 21, 2013. The largest gaming event in Asia, showcasing the industry’s latest products, services and technologies, is taking place amid a decline in growth rates in the former Portugese colony’s gaming industry as China’s economic ...
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PM Li faces litmus test in Pakistan Chinas iron brother
Chinese premier Li Keqiang faces the challenge of meeting conflicting demands for his attention and Beijing's purse when he lands in Pakistan on Wednesday at the end of his India visit, his first foreign tour after assuming ...
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Former President Rafsanjani Ahmadinejad ally barred from Iran election
Akbar Hashemi Rafsanjani , a relative moderate, from running in the June 14 election, along with a protege of the current president, leaving mainly hardliners left to contest the vote. Rafsanjani and Esfandiar Rahim Mashaie, a close aide to current ...
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Polar Air Cargo to Upgrade Intra-Asia Trans-Pacific Services
Boeing 767-300 freighter will operate between Tokyo; Sydney; and Incheon, South Korea, while a second 767-300 will operate between Taipei, Taiwan; Nagoya, Japan; and Incheon. With other previously announced routes, this will allow connections to and from the U.S.Polar will also add two weekly flights between Hong Kong and Cincinnati."We are continuing to enhance our network to ensure that ...
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US Congress grills former IRS chief over tax scandal
WASHINGTON: The political appointee who headed the IRS during the US tax agency's abusive treatment of conservative groups insisted on Tuesday that he was not involved in the scandal. US senators grilled retired IRS ...
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Members of Congress want to prevent reduction in US missile defence in East Asia
WASHINGTON - Lawmakers are seeking to prohibit the U.S. from removing missile defence equipment from East Asia, even if the threat posed by a nuclear-armed North Korea is eliminated. The legislative proposal is a response to remarks last month by Secretary of State John Kerry that the U.S. could reduce its heightened defence posture in the region if North Korea abandoned its nuclear weapons. ...
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Bangladesh’s other workplace catastrophes
collapse of the Rana Plaza building on more than 1,000 workers, which made it the deadliest ever catastrophe in the history of the garment industry. Last November, a garment factory fire killed more than 100 people. So the tannery worker’s assessment sounds like a sick joke. But the truth is it was a realistic assessment of the deplorable health and safety conditions in Bangladesh. ...
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Obama against prosecuting reporters for doing their jobs White House
President Obama believes in the need for balance between national security concerns and the ability of reporters to work freely, White House has ...
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Deal on Osama bin Laden evidence made in WikiLeaks case
Bradley Manning . It involves evidence that the slain al-Qaida leader saw some of the classified information that Manning has admitted he caused to be published on the WikiLeaks website. If the judge approves the deal and allows the evidence at Manning's trial starting on June 3, a member of ...
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Search for US tornado survivors nearing end death toll lowered to 24
Oklahoma City suburb where massive tornado flattened homes and demolished an elementary school. Authorities lowered the death toll to 24, down from 51. Fire Chief Gary Bird said that he's "98 percent sure" there are no more survivors or bodies to recover under the rubble in Moore. He said every damaged home had been searched at least once and that he's hopeful the work could ...
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Burberry reports sales growth on strength of Asian market
A customer walks in front of a Burberry store in central London in 2008. Burberry is reporting 8 per cent sales growth in 2013, driven by the Asian ...
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Greenback gains ground in Asia trade
TOKYO--The dollar turned higher against the yen in Asia on Tuesday as investors waited for testimony by the U.S. central bank chief and the outcome of a policy meeting of the Japanese central ...
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Asian Champions League Al Shababs priorities are all in order
Adel Abdulla, front, and his Al Shabab teammates dropped their Asian Champions League first leg match at home to Esteghlal 4-2, making the second leg at Tehran, Iran all the more difficult for the UAE ...
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Report Asian Workers Around the World Remit $ 260 Billion to Their Home-Countries
(MENAFN - Saudi Press Agency) The United Nations Organization and the World Bank said in a report issued today that the remittances of 60 Asian countries' laborers working abroad amounted to about 260 billion last year, equivalent to 63% of total remittances in the world amounting to 410 billion. The report noted that about 70 million Asian families benefited from these money ...
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Philippines approves three new wind farms
(MENAFN - Arab News) The Philippines has approved three wind farm projects that will generate 208 megawatts, enough to power more than 40,000 middle-class homes, an energy official said. The wind projects will be the first to benefit from an incentive scheme which aims to ensure half the country's energy comes from renewable sources by 2030, compared with about 39 percent currently, the ...
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China agrees to impose carbon targets by 2016
The battle against global warming has received a transformational boost after China, the world's biggest producer of carbon dioxide, proposed to set a cap on its greenhouse gas emissions for the first ...
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UK government plans to boost British fund industry
LONDON: Britain has launched a campaign to attract more investment fund money to the country, with plans for tax breaks, cutting red tape and marketing campaigns in Asia and the Americas. In speeches to fund management executives on Tuesday afternoon, Treasury ministers Sajid Javid and Greg Clark said they aim to reverse a weakening of the UK's dominance as a centre for the funds industry. ...
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Oklahoma tornado Many children among 91 feared dead
Todd Lamb told CNN. There was an outpouring of grief on the school's Facebook page, with messages from around the country including one pleading simply: "Please find those little children." Another elementary school, homes and a hospital were among the buildings leveled, leaving residents of the town of about 50,000 people stunned at the devastation and loss of life. The Oklahoma ...
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US lawmakers seek Asia missile defense safeguard
WASHINGTON (AP) -- Lawmakers are seeking to prohibit the U.S. from removing missile defense equipment from East Asia, even if the threat posed by a nuclear-armed North Korea is ...
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Buriram FC Seoul into Asian quarter-finals
SINGAPORE (AFP) - Thai qualifiers Buriram United held off Uzbek giants Bunyodkor to reach the AFC Champions League quarter-finals on Tuesday as FC Seoul beat nine-man Beijing Guoan 3-1.Buriram weathered waves of attack in Tashkent for a 0-0 draw and 2-1 aggregate win over two legs, extending the unfancied club's fairytale run which started with their qualifying victory over Brisbane Roar in ...
South East Asia Digest
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Southeast Asia's growing prominence in world trade
Southeast Asia has been, for many centuries, a major part of world trade and the recent recession has not hampered this position as the region is recovering much faster than many more developed countries.
Southeast Asia, although geographically large, covering an area of around 5 million square miles, is comparatively small economically in relation to the number of people that inhabit the area. The Southeast Asian region is home to over 500 million people and yet the region’s GDP is just US$1.5 trillion, or around US$2,500 per person annually. Read more
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