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  • Sports car sales slump after tax hike, loan limit in Singapore

    SINGAPORE -- Sales of luxury sports cars have significantly dropped in Singapore, after the government introduced a tax hike for expensive cars as well as car loan restrictions in 2013. The six most popular high-end sports car brands, namely Porsche

    July 24, 2014 03:00 pm JST
  • Singapore firms selling off Australian assets as resource boom fades

    SINGAPORE -- Companies here are actively selling off large amounts of Australian assets. These companies are trying to adjust their portfolios to reduce risk, amid growing signs that Australia's economy is slowing as the resource boom fades. Ola

    July 24, 2014 12:00 am JST
  • Southeast Asia mines riches from mountain of industrial waste

    TOKYO -- Southeast Asian manufacturing hubs are working to recover and recycle scarce metals from growing piles of industrial waste. In resources-scarce Singapore, there is actually a gold-mining operation in the Jurong Industrial Estate, in the

    July 24, 2014 12:00 am JST
  • Weaponizing the world

    Military spending in 2013 showed year-on-year growth worldwide in all regions except for the U.S., Europe and Oceania. Increases were particularly high in emerging economies. China has nearly tripled its military spending over a decade, and now acco

    July 24, 2014 12:00 am JST
  • Ascott bullish on serviced apartments in Indonesia and Japan

    SINGAPORE -- Singapore’s Ascott Residence Trust (Ascott Reit), a serviced apartment investment business owned by CapitaLand, views Indonesia as ripe for further investment, chief executive officer Ronald Tay said on Monday. Ascott Reit invests i

    July 22, 2014 08:43 pm JST
  • OCBC's Wing Hang Bank buy will hurt profitability: Macquarie

    SINGAPORE -- Oversea-Chinese Banking Corp.'s (OCBC) purchase of Wing Hang Bank of Hong Kong could cause "deteriorating profitability" at the Singaporean bank, according to a recent report by investment bank Macquarie, which said OCBC is stuck with h

    July 22, 2014 06:30 pm JST
  • Singaporean yacht builder buys Australian rival

    SINGAPORE -- Grand Banks Yachts, a luxury yacht builder in Singapore dating from 1956 and connected to Malaysian tycoon Lim Kok Thay of the Genting Group, is acquiring an Australian rival company, Palm Beach Motor Yacht, in an ongoing effort to retu

    July 21, 2014 10:15 pm JST
  • Japan's listed companies go a-courting in SE Asia

    TOKYO -- Some 800 investors from around Asia gathered at the Ritz-Carlton, Millenia Singapore, in early June for Nomura Investment Forum Asia 2014, an investor relations event hosted by brokerage house Nomura Securities and featuring more than 50 le

    July 21, 2014 01:00 pm JST
  • Takasago finds tasty market in Southeast Asia

    TOKYO -- Japan's largest flavor and fragrance company, Takasago International, is building a new production and research center in Singapore as it looks to capitalize on growing markets in Southeast Asia. Although overseas sales already account

    July 21, 2014 01:00 pm JST
  • Temasek looks west as China investment cools

    SINGAPORE -- Slowing growth in its investment performance in emerging markets -- especially China -- is spurring Singaporean sovereign wealth fund Temasek Holdings to pump more money into the developed markets of North America and Europe, where it h

    July 19, 2014 01:00 pm JST
  • Budget carrier Peach aiming to take off from Naha

    OSAKA -- Peach Aviation is building up Okinawa's Naha Airport as a second hub, looking to use it as a foothold to return to a growth track after setbacks from a pilot pinch. The Japanese low-cost carrier will begin service Saturday between Naha

    July 19, 2014 01:14 am JST
  • Temasek philanthropy fosters public-private projects in Vietnam

    SINGAPORE -- Temasek Foundation, the non-profit arm of Singapore's sovereign wealth fund, Temasek Holdings, is collaborating with the Singapore Cooperation Enterprise, a government unit under the Ministry of Trade and Investment, to help the Vietnam

    July 18, 2014 08:45 pm JST
  • Singapore companies see sports as ticket to global name recognition

    SINGAPORE -- Big companies in Singapore are sponsoring more sporting events and facilities as a way of increasing their global exposure. StarHub, a telecommunications company, announced Thursday that it will sponsor Singapore Sports Hub, a clust

    July 18, 2014 07:20 pm JST
  • International airlines avoid Ukraine airspace

    TAIPEI -- Major international airlines said Friday they are avoiding Ukrainian airspace, while China and the U.S. banned flights over the area after a Malaysia Airlines jetliner was shot down hours earlier. U.S. officials said Malaysia Airlines

    July 18, 2014 05:10 pm JST
  • Soccer alive and well in Southeast Asia

    BANGKOK -- No Southeast Asian country competed in this year's World Cup, but soccer is just as popular here as anywhere else. With incomes rising and fans starting to embrace local leagues, ticket and merchandise sales are skyrocketing and stadiums

    July 18, 2014 01:00 pm JST
  • Asian currency swap pool doubles to $240B

    TOKYO -- An agreement doubling the size of an Asian currency swap framework went into effect Thursday, strengthening a regional financial safety net, Japan's finance ministry said. The Chiang Mai Initiative Multilateralization grows to $240 bill

    July 18, 2014 12:56 am JST
  • Japan's BBIX to set up Internet exchanges in Hong Kong, Singapore

    TOKYO -- BBIX will start offering Internet exchange services in Hong Kong and Singapore next month, aiming to reduce costs and lag time as the advent of smartphones causes network traffic to swell. Internet exchanges allow different Internet ser

    July 18, 2014 12:55 am JST
  • Singapore railways travelling overseas

    SINGAPORE -- SMRT Corporation, Singapore's state-linked railway operator, established Singapore Rail Engineering (SRE) last month as a 100% subsidiary to market its railway expertise overseas. SMRT has gathered experience from its increasingly e

    July 17, 2014 10:49 pm JST
  • Olam announces Singapore's largest corporate bond issue so far in 2014

    SINGAPORE -- Olam International, the world's largest palm oil trader and a leading processor of agricultural products and foodstuffs, announced on Wednesday a 400 million Singapore dollar ($322 million) five-year bond issuance on July 22. Bearin

    July 17, 2014 10:23 pm JST
  • Southeast Asia emerging as a new battlefield among credit card companies

    HANOI/YANGON -- Credit card companies are cultivating markets in Southeast Asia, where rising affluence is spurring the spread of electronic payment systems -- and allowing consumers to spend more than what they have in the bank. MasterCard in J

    July 17, 2014 01:00 pm JST