EBAY EXPANDS OPERATIONS IN VIETNAM
Ho Chi Minh City (ANTARA News/Asia Pulse) - Online marketplace eBay has established a partnership with Vietnamese company PeaceSoft Solution to accelerate e-commerce in the country.
The deal will see website www.chodientu.vn, a Vietnamese online trading forum, adopt the eBay trading name and connect with other eBay websites worldwide to enable local individuals and organisations to conduct online transactions inside and outside the country.
The agreement, revealed on June 17, makes Vietnam eBay's 40th market in the world.
S KOREA'S GS E&C STARTS BUILDING US$979 MLN CAMBDODIAN COMPLEX
Seoul (ANTARA News/Asia Pulse) - GS Engineering & Construction Corp., a South Korean builder, said today it has started work on a 1 trillion won (US$979 million) residential and commercial complex in Phnom Penh.
The builder broke ground for a 52-story residential and business building in the Cambodian capital that will be part of the complex, which is to be fully completed by March 2012, GS E&C said in a regulatory filing.
The company predicted that the project will help it record up to $3.4 billion in sales over the next twenty years.
GM DAEWOO INTRODUCES REDESIGNED SUV IN SOUTH KOREA
Seoul (ANTARA News/Asia Pulse) - GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp., said Wednesday it has released a redesigned version of its Winstorm sport-utility vehicle to boost sales at home.
But the introduction of the diesel-powered Winstorm Maxx looks unfortunate, as sales of gas-guzzling cars have declined in South Korea amid soaring diesel costs, analysts say.
For the first four months of this year, sales of SUVs slipped 18.2 per cent from a year earlier to 14,258 units, according to data released by the Korea Automobile Manufacturers Association.
MALAYSIA'S MARRYBROWN TO OPEN MORE FAST FOOD OUTLETS OVERSEAS
Kuala Lumpur (ANTARA News/Asia Pulse) - Marrybrown Fried Chicken Sdn Bhd, a homegrown international fast food chain, plans to expand to 56 Muslim countries within the next 10 to 15 years.
"We expect 70 per cent of the countries targeted to be in Europe, the Middle East and Africa," its president and group chief executive officer Lawrence Liew told Bernama. Currently, Marrybrown operates over 250 restaurants worldwide, with a presence in the United Arab Emirates (UAE), Bahrain, Kuwait, Saudi Arabia and Qatar.
Liew said Marrybrown was also on track to tap the market in Tanzania with the opening of a restaurant there by the end of this month.
JAPAN'S RENOWN TO SELL UK MENSWEAR SUBSIDIARY TO HONG KONG FIRM
Tokyo (ANTARA News/Asia Pulse) - Japan's Renown Inc. (TSE:3606) said Tuesday it will sell its stake and remaining trademark rights in United Kingdom menswear subsidiary Kent & Curwen Ltd to Hong Kong-based apparel firm Trinity Ltd.
Trinity already owns Kent & Curwen trademark rights for such markets as China and Hong Kong, so Renown has determined that retaining its interest in the U.K. unit is no longer meaningful.
Renown will sell the shares and trademark rights for other Kent & Curwen locations on June 30.
Profit from the sales is estimated at about 400 million yen (US$3.7 million) on a consolidated basis.
CHINA'S GDP GROWTH TO REMAIN STATIC AT 10 PCT IN 2008: EXPERT
Hefei (ANTARA News/Asia Pulse) - China's GDP growth is forecast to remain at about 10 per cent this year due to the negative impact exerted by the May 12 earthquake in Sichuan on the national economy, said an expert of the National Development and Reform Commission (NDRC).
Speaking at the 28th Sino-Japanese economic exchange meeting held in Hefei, capital city of central China's Anhui province on June 18, Lin Zhaomu, former deputy head of the NDRC Macro Economy Research Institute, said the Sichuan earthquake has caused big losses to people's life and the national economy, but its negative impact on the country's overall economy has been limited as Sichuan only accounts for 4.1 per cent of the country's GDP and the quake-hit area in Sichuan accounts for about 1.9 per cent of the GDP.
ST GEORGE BANK ENDS FY 2008 FUNDING WITH A$1.5 BLN NOTE ISSUE
Melbourne (ANTARA News/Asia Pulse) - St George Bank Ltd (ASX:SGB) has completed its fiscal 2008 term wholesale funding requirements, with the issue of almost A$1.5 billion (US$1.414 billion) in fixed rate notes in London overnight.
The five-year note issue finalises the A$8 billion Australia's fifth-largest bank needs for this year's wholesale funding and will also give it a headstart on its 2009 requirement of A$11 billion to A$12 billion.
St George's 2008 fiscal year ends on September 30.
AUSTRALIA TO SEND BIZ DELEGATION TO CHINA ON EVE OF OLYMPICS
Sydney (ANTARA News/Asia Pulse) - Australia is sending its biggest yet business delegation to China, on the eve of the Beijing Olympic Games, the federal government says.
Austrade's Business Club Australia (BCA) has planned more than 40 networking and business events during the games in the hope of building customer relationships.
About 3,000 Australian and Chinese businesspeople were expected to attend events at Business Club Australia, Austrade chief executive Peter O'Byrne said.
PILIPINAS SHELL IN MINDANAO EXPANSION BINGE
General Santos City (ANTARA News/Asia Pulse) - Major oil firm Pilipinas Shell Petroleum Corporation Monday opened at least four more retail service stations in this city and nearby Koronadal, as it further closed in on its target to breach the 200 mark by year-end with its continuing expansion program in Mindanao.
Samuel de Guzman, Shell's general manager for retail sales and operations for the Philippines and North Pacific cluster, said the opening of the four new Shell retail stations --three in this city and one in nearby Koronadal City, has brought the number of their active outlets in Mindanao to 194.
BANGLADESH HAS POTENTIAL TO BECOME MIDDLE-INCOME COUNTRY: ADB
Dhaka (ANTARA News/Asia Pulse) - Asian Development Bank (ADB) country chief Hua Du Tuesday said Bangladesh has a great potential to graduate to the threshold of a middle-income country by 2020 and emphasized the imperative for strong political leadership to steer the nation forward while noting that Bangladesh's development challenges are critical and manifold.
Du said she would be looking forward to emergence of a strong political leadership through the coming general election in December to take the lead.
To tackle the challenges, the ADB country director recommended capable and mature political leadership, pro-poor economic agenda, business-friendly polities, and an efficient but smaller bureaucracy.
Source:
Business in Asia Today - JUNE 18, 2008
published by Asia Pulse
COPYRIGHT © 2008
Ho Chi Minh City (ANTARA News/Asia Pulse) - Online marketplace eBay has established a partnership with Vietnamese company PeaceSoft Solution to accelerate e-commerce in the country.
The deal will see website www.chodientu.vn, a Vietnamese online trading forum, adopt the eBay trading name and connect with other eBay websites worldwide to enable local individuals and organisations to conduct online transactions inside and outside the country.
The agreement, revealed on June 17, makes Vietnam eBay's 40th market in the world.
S KOREA'S GS E&C STARTS BUILDING US$979 MLN CAMBDODIAN COMPLEX
Seoul (ANTARA News/Asia Pulse) - GS Engineering & Construction Corp., a South Korean builder, said today it has started work on a 1 trillion won (US$979 million) residential and commercial complex in Phnom Penh.
The builder broke ground for a 52-story residential and business building in the Cambodian capital that will be part of the complex, which is to be fully completed by March 2012, GS E&C said in a regulatory filing.
The company predicted that the project will help it record up to $3.4 billion in sales over the next twenty years.
GM DAEWOO INTRODUCES REDESIGNED SUV IN SOUTH KOREA
Seoul (ANTARA News/Asia Pulse) - GM Daewoo Auto & Technology Co., the South Korean unit of General Motors Corp., said Wednesday it has released a redesigned version of its Winstorm sport-utility vehicle to boost sales at home.
But the introduction of the diesel-powered Winstorm Maxx looks unfortunate, as sales of gas-guzzling cars have declined in South Korea amid soaring diesel costs, analysts say.
For the first four months of this year, sales of SUVs slipped 18.2 per cent from a year earlier to 14,258 units, according to data released by the Korea Automobile Manufacturers Association.
MALAYSIA'S MARRYBROWN TO OPEN MORE FAST FOOD OUTLETS OVERSEAS
Kuala Lumpur (ANTARA News/Asia Pulse) - Marrybrown Fried Chicken Sdn Bhd, a homegrown international fast food chain, plans to expand to 56 Muslim countries within the next 10 to 15 years.
"We expect 70 per cent of the countries targeted to be in Europe, the Middle East and Africa," its president and group chief executive officer Lawrence Liew told Bernama. Currently, Marrybrown operates over 250 restaurants worldwide, with a presence in the United Arab Emirates (UAE), Bahrain, Kuwait, Saudi Arabia and Qatar.
Liew said Marrybrown was also on track to tap the market in Tanzania with the opening of a restaurant there by the end of this month.
JAPAN'S RENOWN TO SELL UK MENSWEAR SUBSIDIARY TO HONG KONG FIRM
Tokyo (ANTARA News/Asia Pulse) - Japan's Renown Inc. (TSE:3606) said Tuesday it will sell its stake and remaining trademark rights in United Kingdom menswear subsidiary Kent & Curwen Ltd to Hong Kong-based apparel firm Trinity Ltd.
Trinity already owns Kent & Curwen trademark rights for such markets as China and Hong Kong, so Renown has determined that retaining its interest in the U.K. unit is no longer meaningful.
Renown will sell the shares and trademark rights for other Kent & Curwen locations on June 30.
Profit from the sales is estimated at about 400 million yen (US$3.7 million) on a consolidated basis.
CHINA'S GDP GROWTH TO REMAIN STATIC AT 10 PCT IN 2008: EXPERT
Hefei (ANTARA News/Asia Pulse) - China's GDP growth is forecast to remain at about 10 per cent this year due to the negative impact exerted by the May 12 earthquake in Sichuan on the national economy, said an expert of the National Development and Reform Commission (NDRC).
Speaking at the 28th Sino-Japanese economic exchange meeting held in Hefei, capital city of central China's Anhui province on June 18, Lin Zhaomu, former deputy head of the NDRC Macro Economy Research Institute, said the Sichuan earthquake has caused big losses to people's life and the national economy, but its negative impact on the country's overall economy has been limited as Sichuan only accounts for 4.1 per cent of the country's GDP and the quake-hit area in Sichuan accounts for about 1.9 per cent of the GDP.
ST GEORGE BANK ENDS FY 2008 FUNDING WITH A$1.5 BLN NOTE ISSUE
Melbourne (ANTARA News/Asia Pulse) - St George Bank Ltd (ASX:SGB) has completed its fiscal 2008 term wholesale funding requirements, with the issue of almost A$1.5 billion (US$1.414 billion) in fixed rate notes in London overnight.
The five-year note issue finalises the A$8 billion Australia's fifth-largest bank needs for this year's wholesale funding and will also give it a headstart on its 2009 requirement of A$11 billion to A$12 billion.
St George's 2008 fiscal year ends on September 30.
AUSTRALIA TO SEND BIZ DELEGATION TO CHINA ON EVE OF OLYMPICS
Sydney (ANTARA News/Asia Pulse) - Australia is sending its biggest yet business delegation to China, on the eve of the Beijing Olympic Games, the federal government says.
Austrade's Business Club Australia (BCA) has planned more than 40 networking and business events during the games in the hope of building customer relationships.
About 3,000 Australian and Chinese businesspeople were expected to attend events at Business Club Australia, Austrade chief executive Peter O'Byrne said.
PILIPINAS SHELL IN MINDANAO EXPANSION BINGE
General Santos City (ANTARA News/Asia Pulse) - Major oil firm Pilipinas Shell Petroleum Corporation Monday opened at least four more retail service stations in this city and nearby Koronadal, as it further closed in on its target to breach the 200 mark by year-end with its continuing expansion program in Mindanao.
Samuel de Guzman, Shell's general manager for retail sales and operations for the Philippines and North Pacific cluster, said the opening of the four new Shell retail stations --three in this city and one in nearby Koronadal City, has brought the number of their active outlets in Mindanao to 194.
BANGLADESH HAS POTENTIAL TO BECOME MIDDLE-INCOME COUNTRY: ADB
Dhaka (ANTARA News/Asia Pulse) - Asian Development Bank (ADB) country chief Hua Du Tuesday said Bangladesh has a great potential to graduate to the threshold of a middle-income country by 2020 and emphasized the imperative for strong political leadership to steer the nation forward while noting that Bangladesh's development challenges are critical and manifold.
Du said she would be looking forward to emergence of a strong political leadership through the coming general election in December to take the lead.
To tackle the challenges, the ADB country director recommended capable and mature political leadership, pro-poor economic agenda, business-friendly polities, and an efficient but smaller bureaucracy.
Source:
Business in Asia Today - JUNE 18, 2008
published by Asia Pulse
COPYRIGHT © 2008
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