Asia Market Insight: August 2009

Sunday, August 9, 2009

Anil Ambani - Questions and Answers

In an email exchange with Paul Beckett, The Wall Street Journal's New Delhi bureau chief, Anil Ambani articulates why his company, Reliance Natural Resources, is battling Reliance Industries, controlled by his brother Mukesh, in the Supreme Court over a controversial gas deal., more

Patni Computer Profit Up 45%

Patni Computer Systems posted a 45% rise in its second quarter consolidated net profit, and forecast revenue in dollar terms to rise sequentially., more

Air India Planning to Cancel Order for 6 Boeing 777s

Air India, the loss-making national carrier, said it's planning to cancel orders for six Boeing Co. 777 planes., more

BSNL: Tower-Sharing Talks With Telecom Firms in Final Stages

Bharat Sanchar Nigam said it is in the final stages of talks to share its telecommunications infrastructure with other service providers and expects to finalize deals soon., more

Aurobindo Pharma Profit Surges

Aurobindo Pharma reported a surge in fiscal first-quarter consolidated net profit to 1.67 billion rupees ($34.6 million) from 164.2 million rupees a year earlier., more

Hindalco Profit Drops 31%

Hindalco Industries, India's largest aluminum producer by output, posted a lower-than-expected 31% fall in fiscal first quarter net profit., more

India's Wine Woes Now Will Benefit Consumers Later

Rajeev Samant, CEO of Sula Vineyards, on what ails vintners here and abroad and why tipplers in India will soon be spoiled for choice., more

Urban India Student PC Usage 71%: Survey

A striking 71% of students in Indian metropolitan areas say they use personal computers, according to a new survey by information technology giant Tata Consultancy Services., more

Sensex Ends Up 1.8%, Highest Close in Over 12 Months

Strong global cues and heavy institutional buying at the start of a new derivatives contract propelled Indian shares to their highest close in more than a year Friday., more

TVS Motor Profit Up on Lower Input Costs, Higher Sales

TVS Motor beat market estimates with a more than twofold jump in its first quarter net profit as vehicle sales rose and raw material costs declined., more

Should the Private Sector Be More Involved in Government?

Two Indian students on the WSJIDEBATE panel debate the role of specialists in governance after the appointment of Nandan Nilekani as the head of India's Unique ID Authority., more

Eight Reforms Needed for Independent Directors

Arun Duggal, independent director and former CEO of Bank of America in India, on why independent directors are important and how their role needs to change., more

Private Airlines Call Off Strike

India's private airlines have decided not to go ahead with their plan to suspend flights Aug. 18, their association said., more

Private Airlines Call Off Strike

India's private airlines have decided not to go ahead with their plan to suspend flights Aug. 18, their association said., more

Shipping Corp May Buy Used Ships

Shipping Corp. of India may buy four to five used ships later this year mainly to import coking coal under a planned joint venture with Steel Authority of India, a senior company executive said., more

India Minister: Will Protect Government Rights on Gas

India's federal government has nothing to do with the "private dispute of two industries or industrialists" and will make all efforts to protect government and public interest in gas distribution, the oil minister said., more

No Proposal to Up Foreign Investment in Media, Banks

The Indian government isn't looking at any proposal to increase the foreign direct investment limit in the banking and media sectors, Junior Commerce and Industry Minister Jyotiraditya M Scindia said., more

Bharti, MTN Extend Exclusive Talks

Bharti Airtel said it has extended its exclusive merger talks with South Africa's MTN Group till Aug. 31 from July 31 earlier., more

India Exports Down in June; July PMI at 55.3

India posted robust manufacturing activity, suggesting government efforts to spur the economy have helped demand at home., more

Panasonic Posts Loss

Panasonic swung into the red in the fiscal first quarter ended June 30 as soft demand for electronics and costs related to early retirement programs weighed on its bottom line., more

Malaysian Lawyers Denounce Crackdown

The main lawyers' organization in Malaysia said the police reaction to a rally against a tough detention law shows the government is abusing power., more

Souring Loans Weigh on HSBC's Results

HSBC Holdings reported a 57% drop in first-half net profit from souring consumer and company loans in the U.S. and elsewhere, but said financial markets may have already hit their low point., more

Suzuki, Daihatsu Post Profit Drops

Profits at Suzuki and Daihatsu plunged on reduced sales, but their focus on mini cars helped keep the two auto makers in the black., more

The New Bank Branch: Internet Caf&eacute;s and Rent-a-Rooms

Big banks are closing branches and focusing on sales of high-margin products. Meanwhile, innovative small banks are getting creative to compete, more

Will Viral Video Kill the Music Video?

The recent JK Wedding video and Jon Rawlinson's fish-tank video show that fan creations can spike sales better than marketing efforts. Would there be more viral goodness if the record labels loosened their grip?, more

Japanese Electronics Companies Seek New Ways to Survive

Finding cost cutting has its limits, behemoths like NEC Electronics and Hitachi look to buyouts, joint ventures, and other ways to raise capital, more

GM's China Auto Sales Soar 78%

Thanks to strong demand for locally made Cadillacs, Buicks, and Wuling-brand minivans, GM's car sales in China surged in July vs. a year ago, more

Nissan Unveils the Leaf, Its New Electric Car

Nissan Chief Ghosn is betting the car, which runs 100 miles on a single charge, will quickly become a mass market hit, more

Cash For Clunkers Helps Ford To July Gain

Ford Motor Co. on Monday will post a single-digit sales gain over the same month a year ago, the first monthly sales gain the automaker has posted since 2007., more

Panasonic Posts Losses But Boosts Sales Overseas

Demand for consumer electronics remains weak, but the expansion of Panasonic's appliance business abroad is a definite bright spot, more

MGM Mirage Faces Macau Review

New Jersey's gaming commission reopened MGM Mirage's license to run a casino in Atlantic City for review, citing an investigation into its relationship with Pansy Ho, its business partner in Macau., more

OCBC Profit Rises 10% on Income

Oversea-Chinese Banking's second-quarter net profit rose 10%, as higher income helped offset an increase in bad-debt charges for Singapore's third-largest bank by assets., more

Panasonic Posts Loss

Panasonic swung into the red in the fiscal first quarter ended June 30 as soft demand for electronics and costs related to early retirement programs weighed on its bottom line., more

Strike Talks at Car Maker Break Off

Talks to end a months-long strike at South Korean auto maker Ssangyong . broke off, with management threatening to take steps toward liquidation unless the union accepts a compromise offer on layoffs., more

Saturday, August 8, 2009

Australia Aims to Avoid Housing Bubble

While much of the world grapples with a housing slump, Australian policymakers are starting to worry about the opposite problem: A housing bubble., more

Everbright Securities Aims for $1.6 Billion IPO

Everbright Securities hopes to raise as much as $1.6 billion in what would be the latest big initial public offering in China., more

Hong Kong to Sell First Bonds Since '04

The Hong Kong government plans to sell local-currency bonds as early as September, its first bond sales since 2004., more

Suzuki, Daihatsu Post Profit Drops

Profits at Suzuki and Daihatsu plunged on reduced sales, but their focus on mini cars helped keep the two auto makers in the black., more

Malaysian Lawyers Denounce Crackdown

The main lawyers' organization in Malaysia said the police reaction to a rally against a tough detention law shows the government is abusing power., more

Souring Loans Weigh on HSBC's Results

HSBC Holdings reported a 57% drop in first-half net profit from souring consumer and company loans in the U.S. and elsewhere, but said financial markets may have already hit their low point., more

China Tests U.S. Lead in Manufacturing

China is on its way to surpassing the U.S. as the world's largest manufacturer far sooner than expected., more

China Tests U.S. Lead in Manufacturing

China is on its way to surpassing the U.S. as the world's largest manufacturer far sooner than expected., more

Resource Shares Lead Stocks Higher

Asian markets ended mostly higher, with commodity shares in the lead as data showed Chinese manufacturing activity continued to gather pace. Shanghai rose 1.5%., more

Shipping Corp May Buy Used Ships

Private Airlines Call Off Strike

India's private airlines have decided not to go ahead with their plan to suspend flights Aug. 18, their association said., more

India Minister: Will Protect Government Rights on Gas

India Exports Down in June; July PMI at 55.3

India's exports continued to sink in June but a separate survey showed manufacturing activity remained robust in July, evidence that fiscal incentives and rate cuts helped boost demand at home and offset a marked slowdown in external trade., more

No Proposal to Up Foreign Investment in Media, Banks

Bharti, MTN Extend Exclusive Talks

Bharti Airtel said it has extended its exclusive merger talks with South Africa's MTN Group till Aug. 31 from July 31 earlier., more

Strike Talks at Car Maker Break Off

Mitsubishi UFJ, Autos Lead Gains

Asian stock markets were mixed Monday with Mitsubishi UFJ and auto makers outperforming on better-than-expected results, but the Nikkei was down 0.3%., more

China Tests U.S. Lead in Manufacturing

China is on its way to surpassing the U.S. as the world's largest manufacturer far sooner than expected., more

OCBC Profit Rises 10% on Income

Oversea-Chinese Banking's second-quarter net profit rose 10%, as higher income helped offset an increase in bad-debt charges for Singapore's third-largest bank by assets., more

Eight Reforms Needed for Independent Directors

Arun Duggal, independent director and former CEO of Bank of America in India, on why independent directors are important and how their role needs to change., more

Wesfarmers CEO Focuses on Performance

The CEO of Wesfarmers says a turnaround of the Australia conglomerate's Coles division can be achieved with emphasis on a performance culture., more

Hong Kong to Sell First Bonds Since '04

The Hong Kong government plans to sell local-currency bonds as early as September, its first bond sales since 2004., more

Australia Aims to Avoid Housing Bubble

While much of the world grapples with a housing slump, Australian policymakers are starting to worry about the opposite problem: A housing bubble., more

China Tests U.S. Lead in Manufacturing

China is on its way to surpassing the U.S. as the world's largest manufacturer far sooner than expected., more

Everbright Securities Aims for $1.6 Billion IPO

Everbright Securities hopes to raise as much as $1.6 billion in what would be the latest big initial public offering in China., more

MGM Mirage Faces Review Over Macau

Protesters in Malaysia Are Detained

Malaysia detained dozens of antigovernment protesters following a sweeping weekend demonstration in Kuala Lumpur., more

Thousands Mourn Filipino Ex-President

Mourners wept as they paid their last respects at the wake of former President Corazon Aquino on Sunday, with some pledging to carry on her legacy by protecting the democracy she helped install 23 years ago., more

9 U.S., NATO Troops Die in Afghanistan

Afghan insurgents killed nine foreign soldiers -- six of them Americans -- on Saturday and Sunday, in one of the deadliest weekends in Afghanistan for the U.S. and its allies since the fall of the Taliban in 2001., more

U.N.: Afghan Civilian Deaths Up 24%

The U.N. said the number of civilians killed in Afghanistan has jumped 24% so far this year, with airstrikes and bombings by insurgents the biggest killers., more

Urban India Student PC Usage 71%: Survey

A striking 71% of students in Indian metropolitan areas say they use personal computers, according to a new survey by information technology giant Tata Consultancy Services., more

Friday, August 7, 2009

HTC Gets Pinched by Competitors

Handset maker HTC said it now expects revenue to fall this year because of product delays and a drop in contract orders., more

In Japan, Lenders Face Headwinds

Japan's banks showed signs of recovery in their fiscal first-quarter results, but while the nation's biggest lender reported profit gains, other bank results showed a difficult operating environment persists., more

Sales Dip at Japan's Drug Makers

Japan's leading pharmaceutical makers reported slower earnings growth, dragged down by falling sales due to a strong yen and a limited pipeline of new drug launches., more

China Aims to Keep Markets Open

China started formal complaints at the WTO against U.S. and EU trade barriers, seeking to keep markets open to its exports., more

Hatoyama Upholds Political Tradition

Yukio Hatoyama could bring sweeping changes to Japan if his opposition party prevails in coming elections, ushering in an independent course in foreign affairs., more

Security Forces Targeted in Kashmir

Suspected rebels killed an Indian paramilitary troop and wounded two others in Indian Kashmir's main city, the first time security forces have been targeted this year., more

RBS Nears Deal to Sell Asian Assets

Royal Bank of Scotland is close to sealing a long-anticipated deal to sell some of its Asian assets to Australia & New Zealand Banking Group., more

Plague Outbreak in Chinese Town

Thousands of people have been placed under quarantine in a town in northwest China after a man died of pneumonic plague and 11 others were confirmed infected with the deadly lung infection., more

Talks Fail at South Korean Car Maker

Talks to end a months-long strike at ailing Ssangyong Motor broke off, with management threatening to take steps toward bankruptcy unless the union accepts a compromise offer on layoffs., more

England's Cricketers Raze Australia

England reach 116-2 before bad light ends play on second day after Australia collapsed from 126-1 to 263 all out., more

Nissan Unveils New Electric Car

The Japanese car maker's CEO said he isn't worried that the company's new electric vehicle will face stiff competition from hybrid cars offered by rival companies., more

Malaysian Protesters Clash With Police

Malaysian riot police fired tear gas and water cannons in clashes with thousands of antigovernment demonstrators protesting a long-standing law allowing detention without trial., more

Three U.S. Troops Die in Afghanistan

Militants in eastern Afghanistan attacked U.S. forces with gunfire after a roadside bomb hit their convoy. Three American troops were killed in the attack., more

Thousands Mourn Filipino Ex-President

Plague Outbreak in Chinese Town

Thousands of people have been placed under quarantine in a town in northwest China after a man died of pneumonic plague and 11 others were confirmed infected with the deadly lung infection., more

Talks Fail at South Korean Car Maker

Talks to end a months-long strike at ailing Ssangyong Motor broke off, with management threatening to take steps toward bankruptcy unless the union accepts a compromise offer on layoffs., more

Nissan Unveils New Electric Car

The Japanese car maker's CEO said he isn't worried that the company's new electric vehicle will face stiff competition from hybrid cars offered by rival companies., more

RBS Nears Deal to Sell Asian Assets

Royal Bank of Scotland is close to sealing a long-anticipated deal to sell some of its Asian assets to Australia & New Zealand Banking Group., more

England's Kings of Swing Demolish Australia

England reach 116-2 before bad light ends play on second day after Australia collapsed from 126-1 to 263 all out., more

Security Forces Targeted in Kashmir

Suspected rebels killed an Indian paramilitary troop and wounded two others in Indian Kashmir's main city, the first time security forces have been targeted this year., more

Malaysian Protesters Clash With Police

Malaysian riot police fired tear gas and water cannons in clashes with thousands of anti-government demonstrators protesting a long-standing law allowing detention without trial., more

Thursday, August 6, 2009

Philippines Ex-President Aquino Dies

Corazon Aquino, who helped bring down a dictator as leader of the "People Power" revolution and became president of the Philippines in 1986, died Saturday in Manila at age 76., more

Hatoyama Upholds Political Tradition

Yukio Hatoyama could bring sweeping changes to Japan if his opposition party prevails in coming elections, ushering in an independent course in foreign affairs., more

China Aims to Keep Markets Open

China started formal complaints at the WTO against U.S. and EU trade barriers, seeking to keep markets open to its exports., more

Aggressive Australia Put England on Back Foot

Cricket: Ricky Ponting's side look to make up lost time after rain-delayed the start, and close day one on 126-1 after winning the toss at Edgbaston., more

U.N.: Afghan Civilian Deaths Up 24%

The U.N. said the number of civilians killed in Afghanistan has jumped 24% so far this year, with airstrikes and bombings by insurgents the biggest killers., more

Japan's Drug Makers See Sales Slow

Japan's leading pharmaceutical makers reported slower earnings growth, dragged down by falling sales due to a strong yen and a limited pipeline of new drug launches., more

HTC Gets Pinched by Competitors

Handset maker HTC said it now expects revenue to fall this year because of product delays and a drop in contract orders., more

Sony Is Still Feeling the Recession's Bite

The electronics and entertainment giant posted a $271 million quarterly loss on a 19% drop in revenue, putting more pressure on CEO Stringer, more

Vital Signs: Employment Still Looks Weak

On deck: ISM indexes, construction spending, car sales, personal income, pending home sales, factory orders, and the employment report, more

Is China Leading a Global Recovery?

, more

Yahoo: Losing the Geek Factor

Surrendering search responsibilities to Microsoft will likely take a toll on Yahoo's engineering and innovation prowess, more

Why Korean Tech Firms Are Ahead of Rivals in Japan

Korea's Samsung has been thriving as Japan's Sony and Sharp tread water. A weak won and strong yen are not the only explanation, more

Is the Worst Over for Japan's Automakers?

Earlier cost-cutting seems to be paying off as Honda, Nissan, and Mazda all post better-than-expected earnings results, more

Cash For Clunkers Faces Possible Suspension

There may need to be a new award for short-sightedness in Washington DC: The Clunker Award., more

Glass Company CEO Stresses Need for Clarity

Stuart Chambers, chief executive of Nippon Sheet Glass, talks about his first job and offers advice for managers in merging companies., more

How DHR Chief Found Her Match

Christine Greybe earns her livelihood matching companies with new senior executives in these turbulent economic times., more

A Good Time to Be a Banker?

Pierre Baer, private-banking chief for Société Générale, says there's no better time for private bankers to decide if they're in the right business., more

Bridging Cultures, Post-Acquisition

If Tom McCabe, an independent financial-services consultant, had a simplified management credo written down, it would probably read: talk and walk -- a lot., more

Interchange Between Sales, Distribution

Kirin Brewery CEO Kazuyasu Kato stresses the need for good communication to keep the company relevant., more

Making Sure Seoul Guests Feel at Home

Bernhard Brender, head of the Grand Hilton Hotel in Seoul, learned networking the hard way on the path from the kitchen to the executive suite., more

YTL Scion Fosters Faith-Based Culture

Tan Sri Francis Yeoh, head of YTL, is both one of Malaysia's most prominent business personalities and a religious man who seeks to practice his Christian values in life and business., more

Diversification Helps Macquarie

Nicholas Moore took the reins of Macquarie in the midst of the worst global financial downturn in decades, but he has managed to dodge the troubles of its banking-industry peers., more

To Enrich by Way of the Sword

Sensei Akira Kubo, whose martial arts academies extend from Tokyo and China to Italy and Israel, has been a global missionary for the Japanese art of Kendo., more

Secret to Weather the Economic Storm

Andre Koo, executive chairman of Taiwan's Financial One, says taking care of his staff is the secret to surviving the global financial storm., more

Fast Retailing Lives Up to Name

Being dominant in Japan doesn't satisfy President Tadashi Yanai, who aims to make his company Asia's leading fashion retailer within five years., more

Motivating Employees When You're the Underdog

The head of Microsoft's consumer and online business in Asia must find a way to popularize Microsoft's Web services or be left with a shrinking piece of the online-advertising pie., more

Nippon Paper Pins Growth on Overseas Markets

To survive consolidation, Japanese paper companies have been forced to merge, while larger companies such as Nippon Paper have been expanding overseas., more

Ex-Boxer Drums Up Asian Business for Scotland

Frank Boyland, Scottish Development International's director for Asia, learned some of his management skills in the school of hard knocks -- a boxing gym., more

Japan Tobacco's Lessons from Scandal

Japan Tobacco's CEO thinks the group emerged from a scandal over pesticide-laced gyoza, or dumplings, with a more cohesive corporate DNA and focus on customer relations., more

Toyota Is First Across the Finish Line

Toyota's position in the tumultuous auto industry helped it finish atop voting of the overall most-admired companies in Japan in the Asia 200 survey., more

China Seeks Solution on Iron Ore Talks

Quashing speculation a resolution was imminent over troubled iron ore price talks between China and global miners, a senior Chinese official said talks were still ongoing., more

Vale to Delay Settling China Ore Prices

Brazilian miner Vale said it wouldn't settle iron-ore contract prices with China until after its rivals BHP Billiton and Rio Tinto finalize their China contracts., more

Bond Worry: Will China Keep Buying?

Shaky auctions of Treasury notes this week reignited concerns about whether the government can attract buyers from China and elsewhere to soak up trillions in new debt., more

Italy Mulls Exiting Afghanistan

Italy will be looking for an exit strategy from Afghanistan after the election there, Berlusconi said in the first suggestion of a possible withdrawal of Italian troops., more

Wednesday, August 5, 2009

CIC Wades Into U.S. Hedge Funds

China Investment Corp.'s $200 billion sovereign-wealth fund is reaching out to old friends in the U.S. as it ventures into hedge-fund investing., more

China Drafts New Loan Rules

China's banking regulator has drafted rules governing loans used for working capital, following warnings from government officials that unrestricted lending has helped create potential bubbles in the local stock and property markets., more

China Cities Raise Water Price

Cities in China are raising the price of water, and trying to balance the need to conserve a scarce resource with the effects on a public used to low fees., more

Urban India Student PC Usage 71%: Survey

A striking 71% of students in Indian metropolitan areas say they use personal computers, according to a new survey by information technology giant Tata Consultancy Services., more

Nikkei Rises to 2009 High

Asian markets ended higher, with Japan advancing 1.9% to its highest level this year as exporters benefited from a weaker yen and electronics companies rose on Sony's better-than-expected results., more

Better Signs for Japan's Banks

Mizuho Financial Hit by Derivatives

Mizuho Financial Group remained in the red in its fiscal first quarter as valuation losses from trading credit default swaps and other derivatives mounted., more

Air India Planning to Cancel Order for 6 Boeing 777s

Air India, the loss-making national carrier, said it's planning to cancel orders for six Boeing Co. 777 planes., more

BSNL: Tower-Sharing Talks With Telecom Firms in Final Stages

Bharat Sanchar Nigam said it is in the final stages of talks to share its telecommunications infrastructure with other service providers and expects to finalize deals soon., more

Aurobindo Pharma Profit Surges

Aurobindo Pharma reported a surge in fiscal first-quarter consolidated net profit to 1.67 billion rupees ($34.6 million) from 164.2 million rupees a year earlier., more

Hindalco Profit Drops 31%

Hindalco Industries, India's largest aluminum producer by output, posted a lower-than-expected 31% fall in fiscal first quarter net profit., more

Urban India Student PC Usage 71%: Survey

A striking 71% of students in Indian metropolitan areas say they use personal computers, according to a new survey by information technology giant Tata Consultancy Services., more

TVS Motor Profit Up on Lower Input Costs, Higher Sales

TVS Motor beat market estimates with a more than twofold jump in its first quarter net profit as vehicle sales rose and raw material costs declined., more

Sensex Ends Up 1.8%, Highest Close in Over 12 Months

Strong global cues and heavy institutional buying at the start of a new derivatives contract propelled Indian shares to their highest close in more than a year Friday., more

Bond Worry: Will China Keep Buying?

Shaky auctions of Treasury notes this week reignited concerns about whether the government can attract buyers from China and elsewhere to soak up trillions in new debt., more

Nikkei Rises to 2009 High

The Nikkei rose 1.4% to its highest level this year as exporters benefited from a weaker yen and electronics companies rose on Sony's better-than-expected results., more

Nikkei Rises to 2009 High

The Nikkei rose 1.4% to its highest level this year as exporters benefited from a weaker yen and electronics companies rose on Sony's better-than-expected results., more

China Seeks Solution on Iron Ore Talks

Quashing speculation a resolution was imminent over troubled iron ore price talks between China and global miners, a senior Chinese official said talks were still ongoing., more

Mizuho Financial Hit by Derivatives

Mizuho Financial Group remained in the red in its fiscal first quarter as valuation losses from trading credit default swaps and other derivatives mounted., more

India's Wine Woes Now Will Benefit Consumers Later

Rajeev Samant, CEO of Sula Vineyards, on what ails vintners here and abroad and why tipplers in India will soon be spoiled for choice., more

TSMC Upbeat on Chip Demand

TSMC posted a 15% fall in second-quarter net income, its best quarterly result in nine months, adding continued recovery in demand for chips will lift the company and industry's revenue., more

Alcatel Expects Asia Sales Growth

Alcatel CEO Ben Verwaayen expects sales from the Asian-Pacific region to become a larger portion of its global revenue, and foresees returning to "normal" profitability by 2011., more

DoCoMo Profit Sinks, Softbank Soars

NTT DoCoMo and Softbank reported contrasting fiscal first-quarter results, with DoCoMo's profit hit by shrinking per-user revenue while Softbank reaped gains from increased service fees and handset sales., more

Alibaba.com Splits Management

Alibaba.com is separating the management of its domestic and international marketplaces and stepping up ties with Taobao.com., more

China Seeks Clean Energy Balance

China's government said it shut down many of its smaller and dirtier power plants nearly two years ahead of schedule, but China's overall power-generating capacity surged by about one-fifth over the same period., more

China Drafts New Loan Rules

Toyota Is First Across the Finish Line

Toyota's position in the tumultuous auto industry helped it finish atop voting of the overall most-admired companies in Japan in the Asia 200 survey., more

Sony Swings to a Loss

Sony swung to a quarterly net loss as a slide in consumer spending, the strong yen and hefty restructuring costs pummeled results., more

Singapore Air Posts Loss

Singapore Airlines swung to a net loss in the first quarter as the global economic slowdown and the outbreak of H1N1 crimped demand., more

Shinsei Turns Profitable as Costs Ease

Shinsei Bank posted a profit after three quarters of losses as its bad-loan burden eased., more

Sumitomo Trust Gets Nikko Asset

Sumitomo Trust is acquiring Citigroup's Nikko Asset Management business in a deal that values the firm at $1.18 billion., more

Electronics Firms Post Losses. Sales Slide

Four big Japanese electronics makers posted losses as the global slowdown continued to sap demand for their products., more

Japan Jobless Rate at Six-Year High

Japan's unemployment rate rose to a six-year high of 5.4% in June, suggesting that an emerging recovery for companies has yet to filter down to workers and families., more

China Cities Raise Water Price

Cities across China are raising the price of water, in moves that try to balance the need to conserve an increasingly scarce resource with the effects on a public used to low fees., more

Vale to Delay Settling China Ore Prices

Brazilian miner Vale said it wouldn't settle iron-ore contract prices with China until after its rivals BHP Billiton and Rio Tinto finalize their China contracts., more

Mitsubishi, Mazda Hit by Sales Slump

Mitsubishi and Mazda plunged fell into the red in the fiscal first quarter, as the economic slump kept potential customers away and the strong yen reduced overseas earnings., more

CIC Wades Into U.S. Hedge Funds

China Investment Corp.'s $200 billion sovereign-wealth fund is reaching out to old friends in the U.S. as it ventures into hedge-fund investing., more

Tuesday, August 4, 2009

Italy Mulls Exiting Afghanistan

Italy will be looking for an exit strategy from Afghanistan after the election there, Berlusconi said in the first suggestion of a possible withdrawal of Italian troops., more

RBS Close to Sale of Taiwan Assets

Royal Bank of Scotland will announce the sale of its Taiwan banking assets to Australia and New Zealand Banking Group as early as next week, people familiar with the situation said., more

China Detains Prominent Activist

Chinese authorities detained a prominent legal activist, escalating a clampdown on dissent ahead of the 60th anniversary of the founding of Communist Party rule., more

Wii Sales Slump Hits Nintendo

Nintendo's net profit skidded more than 60% as sales of the Wii collapsed in the U.S. and elsewhere on a shortage of new games., more

SAIL Profit Drops 28%

Steel Authority of India - India's largest steelmaker by capacity - said net profit for the fiscal first quarter fell 28%, beating analysts' estimates., more

Bharti Applied for Approval of Proposed MTN Deal -Minister

India's federal government said markets regulator has received an application from Bharti Airtel on a proposal to allow it to enter into a partnership with South Africa's MTN Group., more

Should the Private Sector Be More Involved in Government?

Two Indian students on the WSJIDEBATE panel debate the role of specialists in governance after the appointment of Nandan Nilekani as the head of India's Unique ID Authority., more

Mahindra Profit More Than Doubles

Mahindra & Mahindra beat analysts' estimates with a more than twofold jump in its quarterly net profit, helped by a merger of two units with itself and higher vehicle sales., more

Alibaba.com Splits Management

Alibaba.com is separating the management of its domestic and international marketplaces and stepping up cooperation with sister company Taobao.com, according to an internal memo., more

TSMC Upbeat on Chip Demand

TSMC posted a 15% fall in second-quarter net income, its best quarterly result in nine months, adding continued recovery in demand for chips will lift the company and industry's revenue., more

Weak Wii Sales Hit Nintendo Results

Nintendo said its net profit skidded more than 60% as sales of its Wii videogame consoles collapsed in the U.S. and elsewhere on a shortage of new games to reel in recession-hit consumers., more

Alcatel Expects Asia Sales Growth

Alcatel CEO Ben Verwaayen expects sales from the Asian-Pacific region to become a larger portion of its global revenue, and foresees returning to "normal" profitability by 2011., more

Shinsei: No Need for Public Funds

Japanese lender Shinsei's finance chief said he doesn't see the need for an injection of public funds now but may reconsider its capital requirements in the future., more

DoCoMo Profit Sinks, Softbank Soars

NEC, Fujitsu Swing to Losses

NEC and Fujitsu said they swung deep into the red in the quarter ended June, but the two Japanese electronics makers noted signs of a possible recovery later this year., more

Singapore Air Posts First Loss in Six Years

Singapore Airlines swung to a net loss in the first quarter as the global economic slowdown and the outbreak of H1N1 influenza crimped cargo and passenger demand., more

Mitsubishi, Mazda Hit by Sales Slump

Mitsubishi and Mazda plunged fell into the red in the fiscal first quarter, as the economic slump kept potential customers away and the strong yen reduced overseas earnings., more

RBS Close to Sale of Taiwan Assets

Royal Bank of Scotland will announce the sale of its Taiwan banking assets to Australia and New Zealand Banking Group as early as next week, people familiar with the situation said., more

Sumitomo Buys Citi Wealth Unit

Sumitomo said it will buy a 98.55% stake in Citigroup Inc.'s asset management unit in Japan for 112.4 billion yen., more

Anil Ambani - Questions and Answers

Court to Decide on Gas Row Final Hearing September 1

The Supreme Court of India will decide Sept. 1 on the date for the final hearing of a long-running gas dispute between Reliance Natural Resources and Reliance Industries, a spokesman for RNRL said., more

SBI Profit Jumps 42%

State Bank of India reported a better-than-expected 42% rise in its fiscal first-quarter unconsolidated net profit, driven by higher non-interest income., more

Patni Computer Profit Up 45%

Patni Computer Systems posted a 45% rise in its second quarter consolidated net profit, and forecast revenue in dollar terms to rise sequentially., more

India Inflation Down 1.54%

India's wholesale prices fell more steeply in the week ended July 18 than in the previous two weeks but are likely to start rising by October when the impact of last year's high readings begins to taper off., more

Indian Oil Profit Surges

Indian Oil reported a sharp rise in its fiscal first-quarter net profit, becoming the third state-run refiner in as many days to say it has benefited from a fall in crude oil prices that helped trim losses on the sale of oil products at a discount., more

Widow of China Reformer Deng Dies

Zhuo Lin, the widow of late Chinese paramount leader and economic reformer Deng Xiaoping, died Wednesday from an unspecified illness in Beijing., more

China Bank Puts Focus on Credit

China's central bank said bank loans need to be channeled more productively to support economic growth, but signaled it won't set loan curbs in the second half of 2009 to cool explosive lending growth., more

Sony Swings to a Loss

Sony swung to a quarterly net loss as a slide in consumer spending, the strong yen and hefty restructuring costs pummeled results., more

San Miguel Outlines Growth Finance Plan

San Miguel Corp. said it plans to sell up to 49% of San Miguel Purefoods to finance its expansion plans., more

Police Investigate Jakarta Bomb Claim

Indonesian police are investigating a statement posted on the Internet in which one of Southeast Asia's most-wanted terrorists allegedly claims responsibility for the recent bombings in Jakarta., more

India's Singh Defends Pakistan Plan

India's prime minister defended his statements to try to improve relations with Pakistan, saying he thinks Islamabad is making a sincere effort to fight terror., more

Tata Motors Expects Jaguar Cost Cuts

Tata Motors' chairman said Jaguar-Land Rover will need to cut costs and reduce vehicle-development time during the current global economic slowdown., more

UMC Sees Rising Demand

United Microelectronics reported its first quarterly net profit in a year on stronger demand, and said it plans to boost 2009 capital expenditure., more

China Plans to Cut Death Sentences

The highest court in China, which executes more people than any other country, has called for the death penalty to be used less often and for only the most serious criminal cases., more

NAB Buys Goldman Sachs Unit

National Australia Bank will take a majority stake in Goldman Sachs JBWere's private wealth management business in Australia and New Zealand., more

Nippon Steel's Sales Slump

Nippon Steel posted a net loss of $447 million in the fiscal first quarter ended June, and warned of a deeper loss for the first half on slumping consumption., more

Macquarie Eyes U.S., Europe

Macquarie Group forecast a rise in profit and signaled its intention to expand in the dispirited U.S. and European financial sectors., more

China's 'Shoe City' Growth Slows

The mayor of Dongguan said the manufacturing hub's gross domestic product growth rate this year is at 0.6%, far short of its full-year target of 10%., more

Honda, Nissan Seek End to Slump

Honda and Nissan posted dismal earnings to start their fiscal years, but beat market expectations, offering signs that losses of the past year may be behind them., more

Barometer on China's Health: Shippers

If China's economy is faltering, the global shipping industry will be among the first to reveal it., more

BHP Sets Iron-Ore Price Pacts

BHP took a big step forward in its campaign to change the way iron ore is priced using the current annual benchmark system., more

China's Central Bank Is in a Bind

It's not an easy dilemma for China's government to resolve -- deflating price bubbles while keeping employment high., more

Toshiba's Net Loss Widens

Toshiba reported a wider net loss in its fiscal first quarter because of restructuring costs and losses at its chip operations., more

Banks Seek Clarification on Investment Norms

Several Indian banks, where overseas investors hold a majority stake, have approached the finance ministry seeking clarification on a recent norm that qualifies such banks' domestic investments as foreign, a senior government official said., more

Monday, August 3, 2009

Kingfisher Airlines Loss Widens

Kingfisher Airlines said its first quarter net loss widened from a year earlier - but investors cheered the stock on expectations that the airline's liquidity crunch will ease as it announced plans to raise up to 5 billion rupees., more

India Trade Deficit Narrowing on Shrinking Imports

Shrinking imports have narrowed India's trade deficit, although growing exports remain a challenge amid a deep global economic downturn, the country's commerce and industry minister said., more

Air India Free to Reschedule Future Aircraft Deliveries

National carrier Air India is free to reschedule future aircraft deliveries, federal Civil Aviation Minister Praful Patel said., more

Tata Motors: Need Major Cost Cuts at Jaguar-Land Rover

Ratan Tata said U.K.-based Jaguar-Land Rover will need to cut costs and reduce vehicle development time during the current global economic slowdown., more

Tata Steel Profit Falls 47%

Tata Steel - the world's eighth largest steelmaker by capacity - said unconsolidated net profit for the fiscal first quarter fell 47%, in line with analyst expectations., more

Lupin Net Profit Up 25%

Lupin said its first-quarter net profit rose 25%, almost in line with the pace of revenue growth, and forecast a 25%-30% increase in revenue for the current fiscal year., more

Hero Honda Profit Jumps 83%

Hero Honda Motors, India's biggest motorcycle maker by sales, posted an 83% jump in its first quarter net profit to 5 billion rupees ($103.7 million) from 2.73 billion rupees a year earlier., more

Sun Pharma Profit Drops 67%

Indian drug maker Sun Pharmaceutical Industries reported a steeper-than-expected 67% drop in first quarter consolidated net profit, hurt by lower sales of finished drugs and regulatory problems in the U.S., more

Sensex Ends Down on China Sell-Off

Weak Asian trade following a sharp fall in China shares, coupled with heavy selling in select blue chips, including some heavyweights, pulled Indian shares lower Wednesday., more

RBI May End Government Borrowing Support

With inflation about to rear its head again in India, it won't be long before the government will have to finance its widening budget deficit without help from the central bank., more

India's Singh Defends Pakistan Plan

India's prime minister defended his statements to try to improve relations with Pakistan, saying he thinks Islamabad is making a sincere effort to fight terror., more

Why Business Schools Should Focus on Emerging Markets

Too many B-schools are preparing students for the last century. To ready them for this one, they should focus on China, India, and the rest of the developing world, more

M&amp;A's Long Road Back

Recent news from IBM, Amazon, and others suggests deals are being made, but conditions are still far from normal in the world of mergers and acquisitions, more

Japan Wants to Build Medical Tourism Market

The Ministry of Economy, Trade, and Industry will oversee a small-scale project expected to start in September at 10 of the nation's largest hospitals, more

U.S., China Go with First-Stringers in D.C. Summit

Much of China's cabinet is in Washington for talks, and President Obama himself appeared, along with Secretary of State Clinton and Treasury Secretary Geithner, more

Compensation in iPhone Worker Suicide

Taiwanese manufacturer Foxconn will pay compensation to the family of a worker who committed suicide after being interrogated over a missing iPhone prototype, more

Yahoo Gives In to Microsoft, Gives Up on Search

In a long-awaited pairing aimed at taking on Google, Yahoo will handle ad sales while Microsoft gets the real prize: data on who's doing what online, more

Jesse Bhattal Will Leave Nomura Asia

The former Asia-Pacific CEO of Lehman Brothers will relinquish his current post as chairman of Nomura Asia at the end of the year, more

Honda, Nissan Beat Expectations

Despite weak sales and a strong yen, profits at Japan's second and third largest carmakers are beginning to recover, more

San Miguel Outlines Growth Finance Plan

San Miguel Corp. said it plans to sell up to 49% of San Miguel Purefoods to finance its expansion plans., more

San Miguel Outlines Growth Finance Plan

San Miguel Corp. said it plans to sell up to 49% of San Miguel Purefoods to finance its expansion plans., more

Police Investigate Jakarta Bomb Claim

Indonesian police are investigating a statement posted on the Internet in which Noordin Mohamed Top, one of Southeast Asia's most-wanted terrorists, allegedly claims responsibility for the recent bombings in Jakarta., more

Chipmaker Sees Rising Demand

United Microelectronics Corp. reported its first quarterly net profit in a year on stronger demand and said it plans to boost 2009 capital expenditure., more

Honda's Net Tumbles 96%

Honda said that its net profit was all but wiped out in the first quarter ended June, hit by a slide in demand in key markets and the yen's strength., more

Inflationary Worries Hit Beijing

Inflationary pressures from abroad and at home are likely on the rise in China as the economy recovers, the central bank said., more

Macquarie Eyes U.S., Europe

Macquarie Group forecast a rise in profit and signaled its intention to expand in the dispirited U.S. and European financial sectors., more

Chinese Convey Concern on U.S. Debt

A show of unity from the U.S. and China at the end of a high-profile two-day conference was overshadowed by continuing Chinese concerns about the U.S.'s growing pile of debt., more

Nomura Stumbles in New Global Push

Japanese brokerage firm Nomura is struggling to integrate Lehman's international operations, which it acquired last year, as cultural and business differences loom large., more

EU Puts Penalties on Chinese Steel

EU officials approved pre-emptive penalties on imports of steel pipe from China, a precedent-setting move that suggests the trading bloc is growing more protectionist., more

Nikkei Stalls; China Debut Soars

The Nikkei edged up 0.2% Wednesday while Australian resource stocks fell on lower commodity prices. China State Construction Engineering soared on its debut in China., more

Toshiba's Net Loss Widens

Toshiba reported a wider net loss in its fiscal first quarter due to restructuring costs and losses at its chip operations., more

Temasek Portfolio Lost $28 Billion

Singapore state-owned investment company Temasek Holdings lost $28 billion in total portfolio value as of end-March from a year earlier, Chief Executive Ho Ching said., more

India's Middle Class Steps Up

Prashant Agrawal, CEO of Indipepal.com, on a new and good outlet for giving., more

Celanese Finds Solace in China Demand

Celanese said China is one the few bright spots in the global economy, while demand for the chemical maker's products remains lackluster in the U.S. and Europe., more

JFE Reports Loss as Costs Rise

JFE reported its first ever quarterly net loss as global steel demand tumbled and costs soared, but it still expects to stay in the black for the full fiscal year., more

Hitachi to Shake Up Listed Units

Hitachi plans to spend almost $2.87 billion to buy out minority shareholders in five subsidiaries and turn them into wholly owned units., more

Barclays Bulks Up Asia FX Team

The investment banking arm of Barclays Bank continued to bulk up its foreign-exchange business in Asian-Pacific with five newly created hires., more

Gammon India May Be Blacklisted

India's Minister for Urban Development said in Parliament that Gammon India, the company which designed and built the stretch of the Delhi Metro which recently collapsed, may be banned from future metro contracts., more

Appetite for Risk Pushes Dollar Down

A revived appetite for risk among global investors is pushing the U.S. dollar down to test recent lows as sentiment shifts in favor of the Australian dollar, the euro and other currencies geared to a world-wide economic recovery., more

Nomura's Asia Chairman to Resign

Nomura's Asia chairman, Jesse Bhattal, is set to resign, marking the highest-level departure of Lehman Brothers talent from the bank., more

Toyota's Sales Edge Out Rivals

Toyota retained the top spot in global auto sales for the first half of the year, although it came under pressure from GM., more

Philippines Regulates Drug Prices

Philippines President Gloria Macapagal Arroyo imposed price controls on several branded drugs after their manufacturers failed to comply with a new law designed to lower retail prices., more

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