Latest Asia Pacific News
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Philippine president signs law setting standard time
Philippine President Benigno S. Aquino III approved a law that sets the Philippine Standard Time ( PST), a senior government official said Thursday.Deputy Presidential spokesperson Abigail Valte said that Aquino signed Republic Act No. 10535 on May 15 which requires all government agencies to follow the PST of the Philippine Atmospheric, Geophysical and Astronomical Services Administration ...
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China to become major grain importer by 2015
/enpproperty--> China, the world's largest food consumer, is expected to become a major grain importer by 2015, head of a global grain trader said in a recent industry forum. Sunny Verghese, CEO of Olam International Ltd, a Singapore-based grain trader, said because of diminishing resources of land and water, China is on the way to become a major importer of corm, wheat and rice by ...
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Chinese insurers look at real estate investment in Australia
/enpproperty--> Chinese insurance companies are seeking real estate investment opportunities in the Australian market, according to research from international real estate service provider Savills. Foreign Investors by the end of March, although only accounting for 19 percent of Australian CBD office transactions, were the greatest net investors in the market, the report showed. "We ...
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Marine experts look to China
/enpproperty--> The Norwegian shipping classification society Det Norsk Veritas announced it has set up a panel of marine engineering experts in China, as a way to tap into the country's boom in marine equipment design and manufacturing. The current leading members on the panel are marine engineering experts from Dubai, Huston and Singapore, DNV said. This move represents the ...
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China growth to increase demand for office space in 2013
/enpproperty--> The Knight Frank Asia-Pacific Prime Office Index rose for the twelfth successive quarter, boosted by the Chinese economy and the knock-on effects from Japan's stimulus measures, the real estate service provider said in a report. The index increased 1.7 percent in the first quarter of 2013 and 5.6 percent over the last 12 months, as the still robust economy in China is ...
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China Financial Summit 2013 opens in Beijing
China Financial Summit 2013 is one of the main sessions of the 16th China Beijing International High-Tech Expo, and is being held on May 23 and 24. Keynote speeches were delivered at Diaoyutai State Guesthouse. Cai Guoxiong, of the National Committee of CPPCC and vice-chairman of Beijing Municipal Committee of CPPCC, was at the ...
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Japan Bond Yields Spike Again 10-Year at 1
Japanese government bond (JGB) yields soared to 1 percent on Thursday, their highest level in a year, prompting the Bank of Japan to hold true to its promise of taking action to stabilize an incredibly volatile bond market. Analysts expected the market volatility to last for a while, but added that buying by domestic pension funds and the central bank should help keep a lid on yields. Benchmark ...
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Ruins of St. Pauls in Chinas Macao
Initially established in 1580, St. Paul's Church was set on fire in 1595 and 1601. The reconstruction of the church started in 1602 and it was rebuilt into the biggest Catholic Church in East Asia at that time when completed in ...
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Senate Committee releases damning report into Australias aviation authorities
Norfolk Island A Senate Committee has raised serious concerns about the competency of the bodies overseeing Australia's aviation industry.The committee has investigated the official reviews into a Pel-Air plane ditching into the ocean off Norfolk Island in 2009.The service had been flying a patient from Samoa to Melbourne for treatment on behalf of CareFlight.All six people on board ...
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NZ shares fall as US China in focus
Source: Photos.com New Zealand shares fell as the prospect of a winding down of US stimulus and weak Chinese manufacturing weighed on equity markets across Asia. Guinness Peat Group dropped after signalling a delay in its transformation strategy. Westpac Banking Corp led lenders and insurers lower. The NZX 50 Index fell 21.122 points, or 0.5%, to 4589.059. Within the index, 37 stocks fell, ...
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Nawaz Sharif seeks civil nuclear technology from China
Li Keqiang . Sharif called on Li at a hotel here this morning and discussed ways to strengthen bilateral relations in different fields. He focussed on civil nuclear technology, trade and foreign investment during his talks with Li, Geo News channel quoted its sources as saying. The PML-N chief said China had invested in Pakistani nuclear projects in the past and should provide more cooperation ...
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Stock futures drop on Japan volatility China data
surge in bond yields in that country, mirroring action seen in the U.S. a day prior on worries the Federal Reserve could begin tapering its bond buys in the coming months. The Bank of Japan announced a fund-supplying operated in reaction to recent turbulence in the bond market. European stock markets were also setting up for heavy losses after U.S. stocks slid on reaction to testimony by Federal ...
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China HSBC PMI suggests continued near-term softness
The HSBC manufacturing PMI in May dropped below 50 and the details suggest continued weakness in the short run. The weakness in May appears to have been increasingly driven by domestic demand. On a positive note, export orders appear to be ...
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Korea Japan dominance eroded in Asian football
SEOUL, South Korea -- South Korea and Japan's domination of eastern Asian football is being further eroded, judging by the make-up of the quarterfinalists in this season's Asian Champions League.The two nations have between them won all but one of the past seven Asian Champions League titles -- with the exception being a penalty shootout loss in the final -- and have been the top dogs ...
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China PMI spooks Nikkei falls over 7 | Sensex down over 300 pts
TOKYO: The Osaka Securities Exchange on Thursday briefly suspended trade in Nikkei futures due to a steep drop as investors took profits following a recent sharp rally, after weak Chinese factory activity rattled ...
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As yen tumbles Japans gain isnt S Koreas pain
South Korea's economic problems aren't made in Japan. That isn't the way it looks in the two rival exporters' stock markets. Investors convinced that Japan's weakening yen will help its companies claw global market-share back from Korean competitors have bought almost $75 billion worth of Japanese stocks so far this year. Part of that appears to have come at the expense ...
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Asian mkts sell off on Bernanke remarks China PMI
Asian markets on Thursday, sending stock prices down, the US dollar to three-year highs, and Japanese government bond yields to their highest in a year. Stock and bond markets took their cue from the drop in US equities and Treasuries after Bernanke's remarks at a Congressional hearing sparked worries of an earlier than expected reduction in US monetary stimulus. A weak manufacturing survey ...
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Nikkei dives 7.3 pct China worries spark worst rout in 2 years
TOKYO | Thu May 23, 2013 2:24am EDT TOKYO May 23 (Reuters) - The Nikkei share average plunged 7.3 percent on Thursday, its biggest one-day percentage drop in two years after weak Chinese factory data rattled investors, prompting them to take profits from a recent rally buoyed by massive Bank of Japan stimulus measures. The Nikkei ended 1,143.28 points lower at 14,483.98, a two-week ...
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South Korean girl killed by suicide jumper Report
SEOUL: A seven-year-old South Korean girl was killed instantly after being struck by the body of a man as he plunged from his tenth-floor apartment in an apparent suicide, a report said Thursday. The 40-year-old man jumped from the flat in the southern port of Busan on Wednesday evening and hit the daughter of his neighbour who was emerging from the apartment building, SBS TV station said. The ...
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Australia shares drop 2 pct to one-month low after flash China PMI
Thu May 23, 2013 2:20am EDT (Updates to close) SYDNEY May 23 (Reuters) - Australian shares fell 2.0 percent on Thursday, the worst daily loss in more than two months, after release of a weak manufacturing survey about China. Australian investors are particular sensitive to Chinese manufacturing data, as China is the biggest market for Australia's raw materials. The benchmark S&P/ASX 200 ...
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DPRK names another new armed forces minister
Jang Jong Nam (File photo) The Democratic People's Republic of Korea (DPRK) has replaced the general who headed its armed forces ministry, in a further reshuffling of the top brass by young leader Kim Jong Un. General Jang Jong Nam was named "minister of the People's Armed Forces" by official news agency KCNA in a report, the third official to take the role since Kim Jong Un ...
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Kim Jong Un visits February 20 Factory of KPA
Kim Jong Un, top leader of the Democratic People's Republic of Korea (DPRK) ,paid an inspection visit to the February 20 Factory of the Korean People's Army ...
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Indian opposition party urges PM to clarify China policy
India's Bharatiya Janata Party (BJP) on Sunday said the "confusion" surrounding the Centre's China policy is "totally unacceptable" and Prime Minister Manmohan Singh should clear the matter. "Foreign minister Salman Khurshid says something about China and (defence minister) Anthony has a different take. This is the hallmark of the United Progressive ...
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China money rates rebound on tax payments month-end
* Key 7-day money rate rises 18 bps to 4.21 pct * Dealers see continuing caution on lending By Chen Yixin and Adam Jourdan SHANGHAI, May 23 (Reuters) - China's key money rates rebounded on Thursday, shrugging off a net injection of funds from the People's Bank of China, as lenders remained cautious ahead of the month-end and scheduled corporate tax payments. The weighted average of the ...
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Philippines vows to defend territory against China
This undated handout photo released by the Philippine Government on May 23, 2013 shows an aerial view of BRP Sierra Madre, a 100-metre (328 foot) amphibious vessel built for the US in 1944 and acquired by the Filipino navy in 1976, grounded at Second Thomas Shoal in the Spratly Islands. The Philippines vowed Thursday to "defend what is ours" as part of a stand-off over a Chinese ...
Singapore Featured
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Singaporean expansion of MRT leads to disruption
Singapore’s Mass Rapid Transit System (MRT) is not very big in comparison to Shanghai, Beijing or Tokyo, but proportionate to the size of Singapore and the city-state’s population, it is an extremely successful and extensive public transport system and one that the Land Transport Authority (LTA) plans to grow even further.
Singapore has a population of around 5 million, which is important when placing the MRT in context, it has a daily ridership of 2 million, giving it a commuter penetration of at least 40%, which does not take into account the fact that not all 5 million Singaporeans commute on a daily basis or use public transport. Read more
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