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  • JGC, Chiyoda to design LNG plant in Indonesia

    TOKYO -- Japanese engineering corporations JGC and Chiyoda are expected to receive orders from U.K. petroleum giant BP to design a liquefied natural gas plant in Indonesia. BP will construct a plant for its Tangguh LNG project in West Papua Prov

    October 25, 2014 04:45 am JST
  • New development bank a marker of China's greater ambitions

    BEIJING -- The agreement reached Friday to form a China-led development bank signaled the country's drive to carve out a larger role for itself in the international financial order and secure more resources. Twenty-one nations, including China,

    October 25, 2014 03:52 am JST
  • 21 nations sign accord for China-led development bank

    BEIJING -- A total of 21 countries signed a memorandum of understanding in Beijing on Friday for the establishment of a China-led multinational bank. Representatives from Southeast Asia and the Middle East, as well as China, India and Mongolia,

    October 24, 2014 02:00 pm JST
  • Indonesian coal-related companies dig into new businesses

    JAKARTA -- A prolonged decline in coal prices is spurring Indonesian industry players to buy their way into new fields. Indonesia, the world's largest exporter of thermal coal, has seen shipments fall this year due to weak demand from China -- i

    October 23, 2014 07:10 pm JST
  • Japan's Benefit One takes its employee motivation service to Indonesia

    TOKYO -- Benefit One, which provides client companies in Japan with employee motivation, will make a full-scale entry into Indonesia. The Japanese service provider has recently teamed up with an Indonesian company to develop new customers i

    October 23, 2014 01:00 pm JST
  • Mitsui invests in big Hong Kong food supplier

    TOKYO -- Mitsui & Co. has taken a 20% stake in a major Hong Kong food and beverage supplier, with plans to catch up to rivals in Asia's food market by collaborating on logistics and product development. The Japanese trading house became Tsit Win

    October 23, 2014 03:37 am JST
  • Frederic Neumann: Asia should keep cutting subsidies

    That reforms are urgently needed in Asia to keep growth humming along is not exactly a secret. And it is easy to dismiss efforts so far as feeble, at best. Leaders throughout the region have made many ambitious promises on this front, but implementa

    October 23, 2014 12:00 am JST
  • Widodo takes reins amid hopes, challenges

    JAKARTA -- Joko Widodo was sworn in as Indonesia's seventh president on Oct. 20. The country's first leader from outside its circle of elites, Widodo has raised hopes with his promises to tackle corruption, narrow the budget deficit and cut red tape

    October 23, 2014 12:00 am JST
  • Religious strife hits home in Southeast Asia

    World leaders, including U.S. President Barack Obama, are calling for international cooperation to fight Islamic State militants in the Middle East. But conflicts with such extremists are not confined to this region. Southeast Asia is home to roughl

    October 23, 2014 12:00 am JST
  • Rays of hope in Mindanao, new threat for Indonesia

    MINDANAO, Philippines/JAKARTA -- Musmaila Makalunas is still haunted by memories of bombs raining down. Until just a few years ago, the southern Philippine island of Mindanao was plagued by conflict between government forces and the Moro Islamic

    October 23, 2014 12:00 am JST
  • Asia faces bubble trouble as Fed pulls back

    TOKYO -- The imminent normalization of U.S. monetary policy may spell bad news for investors. How bad? According to a recent report by the International Monetary Fund, the shift could see market players lose 8%, or $3.8 trillion, on their bond portf

    October 23, 2014 12:00 am JST
  • SoftBank's bets big on Indonesia with Tokopedia deal

    JAKARTA -- Japan's SoftBank said Wednesday it will lead a $100 million investment in online retailer Tokopedia, in what promises to be one of the biggest deals ever for an Indonesian startup. Softbank's U.S.-based subsidiary SoftBank Internet an

    October 22, 2014 07:57 pm JST
  • Bye-bye to the tuk-tuk? Three-wheelers lose luster in Asia

    MUMBAI/JAKARTA -- Three-wheeled vehicle production appears to be on the wane in Asia as four-wheeled cars and motorcycles become the rides of choice, and because of environmental concerns. India's Crisil Research projects that sales of cargo-car

    October 22, 2014 07:00 pm JST
  • High growth in Asia-Pacific of high net worth individuals

    SINGAPORE -- The wealth held by high net worth individuals (HNWIs) in emerging Asia is predicted to grow at about 12.3% annually from 2013 to 2016, and at about 8.4% for their counterparts in more mature Asian economies, according to the Asia-Pacifi

    October 21, 2014 09:07 pm JST
  • Indonesian developers look abroad for new opportunities

    JAKARTA -- Indonesia's major government-affiliated property developers are increasingly planning offshore projects amid intense competition and weakening demand at home. Pembangunan Perumahan is looking to build a residential-commercial complex

    October 21, 2014 07:00 pm JST
  • CIMB to buy stake in Indonesian 7-Eleven operator

    JAKARTA/KUALA LUMPUR -- Malaysian bank CIMB Group agreed Monday to buy a 10% stake in Indonesia's Modern Internasional, parent company of the operator of 7-Eleven convenience stores in Indonesia. CIMB Private Equity, a wholly owned investment a

    October 21, 2014 04:23 pm JST
  • Japan trading houses boost Australia wheat ops

    SYDNEY/JAKARTA -- Japanese trading houses are expanding exports of wheat from Australia to Southeast Asia, where demand for the grain is increasing. Mitsubishi Corp. in July acquired 80% of shares in Olam Grains Australia, which holds a 32.5% s

    October 21, 2014 01:00 pm JST
  • BBC to push global news brand in Southeast Asia

    TOKYO -- BBC Global News, the international news arm of British Broadcasting Corp., will aggressively promote its brand in Southeast Asia and plans to launch a Japanese-language version of its website in 2015, Chief Executive Officer Jim Egan said.

    October 21, 2014 02:35 am JST
  • Indonesia's new president stresses self-reliance, maritime ambitions

    JAKARTA -- Indonesia's newly sworn-in president on Monday vowed to achieve political, economic and cultural self-reliance and rallied compatriots to "redeem our glory as a maritime country." "We will maintain a free and active" foreign policy as

    October 21, 2014 12:40 am JST
  • Keppel Land boosts office space in Jakarta

    SINGAPORE -- Keppel Land, the Singaporean real estate developer, is boosting the office space it handles in Jakarta. The company announced Sunday it will inject some 266.4 million Singapore dollars ($213 million) to redevelop an existing 18-stor

    October 20, 2014 07:35 pm JST