There's a bit more value in Apple than in Facebook,in our view,said Khiem Do,Head of Asian Equities and Chairman of the Multi-Asset Group at Baring Asset Management.I think it's more sensible now.*
Investors have to realise that 5-6% is quite a good growth rate for China.That's what we predict long term for China.I think that money is too tight in China.*
In India,extrapolating what leading prime ministerial candidate Narendra Modi did for business in a province to the whole country is a delusion.The SENSEX index is overvalued,Mr.Khiem noted.*
Malaysia's Bank Rakyat will acquire its own satellite,likely in 2016.The satellite will solve the bank's problem of the huge amount of communication cost.The bank is spending up to 43.5 million dollars a year to support communication across the island chain of Indonesia.*
The tech startup firm Nix Play offered a demonstration of its Wifi Cloud Digital Photo Frame on Bloomberg TV.Sydney correspondent Dan Petrie successfully sent a selfie from his cell phone in Australia to Hong Kong.Nix Play has sold over 10,000 of these real time cloud frames.On a day to day basis,it is said to save 66% in costs to be on the cloud.*
Showing posts with label Malaysia. Show all posts
Showing posts with label Malaysia. Show all posts
Tuesday, April 29, 2014
Friday, March 28, 2014
MH-370:Big Shift in Search Area;Obama to Saudi Arabia
Of a sudden,the Australian Maritime Safety Authority shifted the search area for the MH-370 airliner.John Young,Managing Director of the agency,said the international investigating committee in Malaysia,folowing a re-analysis of radar data from when the plane was still in contact,had provided new information to the effect that the aircraft was traveling faster than had been thought,meaning it ran out of fuel before it could have reached the old search area.The new area is 1100 kilometers?700 miles northeast of the old area,bringing it out of the Roaring Forties,the area of the worst weather and sea states in the Indian Ocean.
The hundreds of pieces of debris previously spotted by satellites in the old search area may still be parts of the downed plane.They may have drifted from the new search area.
This shift is typical of such investigations,which are constantly reevaluating the situation.
The new area is 1044 miles due west of Perth,and cuts the air transit time from four hours to three.In consequence,search aircraft will use less fuel in transit,and so will have an extra hour to search.Couple that with better visbility and the new area is much more advantageous to searchers.
Satellites have been retasked to focus on the new area.Four of the ten aircraft scheduled for the day were already surveying the new site.It's not at all frustrating,because we train for this every day,said Commander William Marks,US Navy,spokesman for the Seventh Fleet,which is providing the advanced P-8 Poseidon reconnaissance aircraft to the effort.To the pilots and air crew,this is just what they train for.We have a continuous 24-hour presence over the region.This is one of our missions,and we're very proud to be a part of it.*
For the Americans,the visit of President Barack Obama to Saudi King Abdullah in Riyadh today is to reassure Saudi Arabia that the US remains a loyal strategic partner.Saudi Arabia is concerned that the White House is getting too close to distrusted Iran,and that the President was weak when he cancelled plans to attack the Assad forces in Syria because of Congressional opposition.Despite growing US energy independence,the Kingdom of Saudi Arabia remains one of the United States' oldest and most important allies in the Middle East.
The hundreds of pieces of debris previously spotted by satellites in the old search area may still be parts of the downed plane.They may have drifted from the new search area.
This shift is typical of such investigations,which are constantly reevaluating the situation.
The new area is 1044 miles due west of Perth,and cuts the air transit time from four hours to three.In consequence,search aircraft will use less fuel in transit,and so will have an extra hour to search.Couple that with better visbility and the new area is much more advantageous to searchers.
Satellites have been retasked to focus on the new area.Four of the ten aircraft scheduled for the day were already surveying the new site.It's not at all frustrating,because we train for this every day,said Commander William Marks,US Navy,spokesman for the Seventh Fleet,which is providing the advanced P-8 Poseidon reconnaissance aircraft to the effort.To the pilots and air crew,this is just what they train for.We have a continuous 24-hour presence over the region.This is one of our missions,and we're very proud to be a part of it.*
For the Americans,the visit of President Barack Obama to Saudi King Abdullah in Riyadh today is to reassure Saudi Arabia that the US remains a loyal strategic partner.Saudi Arabia is concerned that the White House is getting too close to distrusted Iran,and that the President was weak when he cancelled plans to attack the Assad forces in Syria because of Congressional opposition.Despite growing US energy independence,the Kingdom of Saudi Arabia remains one of the United States' oldest and most important allies in the Middle East.
Monday, October 28, 2013
Asia This Day:Pakistan-US Relations;Indian Grand Prix
Pakistani Prime Minister Nawaz Sharif concluded several days of dialogue in Washington when he met with President Barack Obama on Wednesday.Mr.Sharif,63,had begun his unprecedented third term as Prime Minister on June 5,2013 following a smooth democratic process.A noted businessman,he owns the industrial conglomerate Ittefaq Group.
Speaking at the White House,the two Leaders assessed their talks for the news media in a serious yet relaxed atmosphere.To see a peaceful transition was an enormous milestone for Pakistan and a testament to the Pakistani people's desire for democracy,the President said.The United States considers Pakistan to be an important strategic partner.
We discussed how the United States could potentially be helpful on energy projects and infrastructure projects.The Prime Minister emphasized how trade can be a powerful engine for growth as well.
We talked about security.We agreed we need to find constructive ways to partner together,in ways that respect both countries.Both the Pakistani people and the American people have suffered from terrorism in the past.It can be a source of strength for our two countries to work together in this way.I pledged to fully brief the Prime Minister and his government as we make progress not only for the Afghan elections,but to long term progress in the region.
The resources India and Pakistan are spending on arms would be better spent on social programs,for the good of the world.We want want to be fully supportive of continued progress in Pakistan.As a young man,I had the opportunity to visit Pakistan,the President recalled warmly.
Despite occasional misunderstanding and tensions,the fundamental good will between the American and Pakistani people will be reflected in our governmental relations,President Obama said.*
I have just had a most cordial exchange of views with the President,Prime Minister Sharif said.Over the past 65 years,our two nations have traveled together.I advised him of our domestic and foreign policy priorities:the economy;education;and combating extremism.We both agreed focusing on these areas is indispensable.
Pakistan and the United States have a strong ongoing counterterrorism cooperation.I raised the issue of drones and the need to end these strikes.Let there be no doubt about our commitment for a peaceful and stable Afghanistan.I told President Obama about my sincere commitment to build a peaceful relationship with India.I also assured the President as a responsible nuclear state,Pakistan would continue to act with restraint.
I look forward to welcoming you and Mrs.Obama to Pakistan,Mr.Sharif concluded.*
In sport,Red Bull Racing scored their fourth straight double victory at the Formula One Indian Grand Prix in New Delhi Sunday,taking both the constructor's title and the world driving championship with Sebastian Vettel,who seemed to be quite the fan favourite in India.It was Vettel's tenth win of the season,and his sixth straight,as he enters the upper echelon of drivers in the history of the sport.
Vettel,26,was beside himself with joy,ignoring his instructions to follow the staid post-race protocol of F1.Instead,he made several donuts with his car to the delight of the fans,then got out of the car and made prostrations to the crowd.Their were no boos such as he faced in Europe as he mounted the podium;only chants of approval from his legion of Indian followers.
For me to join people like Prost,Fangio and Michael(Shumacher) is unbelievable,Vettel said.So many people I have to thank that have been teaching me a lot.I don't feel old.Maybe in 10 years' time I'm a little bit better at understanding what we have done this far,the German driver reflected.At his age,the great Alain Prost had yet to achieve his first Grand Prix win.*
In golf,the CIMB Classic at Kuala Lumpur Golf and Country Club,Malaysia,the historic first ever PGA Tour event in Asia,was won by American Ryan Moore,30,in a playoff with his compatriot Gary Woodland.It was Moore's third career victory and his second in twelve months.He has played on the PGA Tour for nine years.
Next weekend,the PGA Tour moves on to Shanghai for its second and final Asian stop of the 2013-14 season.It is generally recognised as being the pre-eminent tour in professional golf.*
Speaking at the White House,the two Leaders assessed their talks for the news media in a serious yet relaxed atmosphere.To see a peaceful transition was an enormous milestone for Pakistan and a testament to the Pakistani people's desire for democracy,the President said.The United States considers Pakistan to be an important strategic partner.
We discussed how the United States could potentially be helpful on energy projects and infrastructure projects.The Prime Minister emphasized how trade can be a powerful engine for growth as well.
We talked about security.We agreed we need to find constructive ways to partner together,in ways that respect both countries.Both the Pakistani people and the American people have suffered from terrorism in the past.It can be a source of strength for our two countries to work together in this way.I pledged to fully brief the Prime Minister and his government as we make progress not only for the Afghan elections,but to long term progress in the region.
The resources India and Pakistan are spending on arms would be better spent on social programs,for the good of the world.We want want to be fully supportive of continued progress in Pakistan.As a young man,I had the opportunity to visit Pakistan,the President recalled warmly.
Despite occasional misunderstanding and tensions,the fundamental good will between the American and Pakistani people will be reflected in our governmental relations,President Obama said.*
I have just had a most cordial exchange of views with the President,Prime Minister Sharif said.Over the past 65 years,our two nations have traveled together.I advised him of our domestic and foreign policy priorities:the economy;education;and combating extremism.We both agreed focusing on these areas is indispensable.
Pakistan and the United States have a strong ongoing counterterrorism cooperation.I raised the issue of drones and the need to end these strikes.Let there be no doubt about our commitment for a peaceful and stable Afghanistan.I told President Obama about my sincere commitment to build a peaceful relationship with India.I also assured the President as a responsible nuclear state,Pakistan would continue to act with restraint.
I look forward to welcoming you and Mrs.Obama to Pakistan,Mr.Sharif concluded.*
In sport,Red Bull Racing scored their fourth straight double victory at the Formula One Indian Grand Prix in New Delhi Sunday,taking both the constructor's title and the world driving championship with Sebastian Vettel,who seemed to be quite the fan favourite in India.It was Vettel's tenth win of the season,and his sixth straight,as he enters the upper echelon of drivers in the history of the sport.
Vettel,26,was beside himself with joy,ignoring his instructions to follow the staid post-race protocol of F1.Instead,he made several donuts with his car to the delight of the fans,then got out of the car and made prostrations to the crowd.Their were no boos such as he faced in Europe as he mounted the podium;only chants of approval from his legion of Indian followers.
For me to join people like Prost,Fangio and Michael(Shumacher) is unbelievable,Vettel said.So many people I have to thank that have been teaching me a lot.I don't feel old.Maybe in 10 years' time I'm a little bit better at understanding what we have done this far,the German driver reflected.At his age,the great Alain Prost had yet to achieve his first Grand Prix win.*
In golf,the CIMB Classic at Kuala Lumpur Golf and Country Club,Malaysia,the historic first ever PGA Tour event in Asia,was won by American Ryan Moore,30,in a playoff with his compatriot Gary Woodland.It was Moore's third career victory and his second in twelve months.He has played on the PGA Tour for nine years.
Next weekend,the PGA Tour moves on to Shanghai for its second and final Asian stop of the 2013-14 season.It is generally recognised as being the pre-eminent tour in professional golf.*
Monday, May 6, 2013
Malaysian Election,US Jobs Lift Asian Markets
Asian markets were up in early Monday trading on optimism over Malaysian election results and the apparent US recovery,with the MSCI Asia Pacific index rising 0.24%.The encouraging employment report on Friday reinforces the idea that the US economy is going along at a decent clip,said Binay Chandgothia, a portfolio manager at Principal Global Investors.
By and large,we expect the US economy will grow in the second half.Natural gas is cheaper and corporates are spending on buybacks and dividend increases.The US energy markets long term do look to be positive.
People have been taking money out of emerging Asia and putting into the US and Japan.Over the next three months,China could provide growth as they are letting their economy take its own course.
The Kuala Lumpur Composite Index soared 3.0% along with the ringgit,the Malaysian currency,as the government of Prime Minister Najib Razak was re-elected,albeit by a smaller majority this time.Opposition leader Anwar Ibrahim bitterly criticised the ruling party for rigging the election by busing foreign voters in to slant the results,as well as playing the racist card against the country's Chinese minority.
India's Nifty Fifty futures index rose,indicating that a three week rally would be extended.
The Reserve Bank of India is restricting the purchase of gold on consignment by banks.It is to be allowed only for jewelry exporters with a genuine need,in order to bring down the current accounts deficit.The RBI had previously halted banks from lending for the purchase of gold in any form.
India is the world's largest gold consumer.Gold has been scarce there recently on strong demand.The Akshaya Tritiya festival on May 13 is the traditional day for buying precious metals in India.
Japanese stock markets are closed Monday for Children's Day.
By and large,we expect the US economy will grow in the second half.Natural gas is cheaper and corporates are spending on buybacks and dividend increases.The US energy markets long term do look to be positive.
People have been taking money out of emerging Asia and putting into the US and Japan.Over the next three months,China could provide growth as they are letting their economy take its own course.
The Kuala Lumpur Composite Index soared 3.0% along with the ringgit,the Malaysian currency,as the government of Prime Minister Najib Razak was re-elected,albeit by a smaller majority this time.Opposition leader Anwar Ibrahim bitterly criticised the ruling party for rigging the election by busing foreign voters in to slant the results,as well as playing the racist card against the country's Chinese minority.
India's Nifty Fifty futures index rose,indicating that a three week rally would be extended.
The Reserve Bank of India is restricting the purchase of gold on consignment by banks.It is to be allowed only for jewelry exporters with a genuine need,in order to bring down the current accounts deficit.The RBI had previously halted banks from lending for the purchase of gold in any form.
India is the world's largest gold consumer.Gold has been scarce there recently on strong demand.The Akshaya Tritiya festival on May 13 is the traditional day for buying precious metals in India.
Japanese stock markets are closed Monday for Children's Day.
Tuesday, December 11, 2012
Canada Approves Foreign Energy Takeovers
The Canadian government has approved the controversial 15.1 billion dollar takeover of oil and gas firm Nexen by China's state-owned offshore oil company CNOOC.Restrictions were placed on any future foreign deals,however.
To be blunt,said Canadian Prime Minister Stephen Harper,Canadians have not spent years reducing the ownership of sectors of the economy by our own governments,only to see them bought and controlled by foreign governments instead.Foreign state control of oil sands assets has reached the point at which further foreign state control would not be of net benefit to Canada.
From now on,state-owned enterprises may only own minority stakes in Canadian enterprises,except in exceptional circumstances.
What we are doing here is preventing a situation which I see developing and have been worried about for a while now,where in the name of an open,globally competitive economy,we could see the transformation of our economy into a state-run economy-just a state-run economy not run by our own government.
Besides the CNOOC deal,Canada also approved the takeover of gas company Progress Energy Resources by Malaysia's state-owned firm Petronas for 5.3 billion dollars.
The CNOOC deal is the Chinese firm's largest offshore acquisition ever.CNOOC is also asking the US government to review its bid for Nexen's Gulf of Mexico assets.
Canada needs about 657 billion dollars of investment in the natural resources sector in the next decade.There were no Canadian bidders for Nexen.
CNOOC made significant commitments on transparency,employment and capital investments in exchange for government approval of the deal.
Nexen,Inc.(NXY),CNOOC Ltd(CEO),Petronas Gas Bhd(KUL:PETGAS)
To be blunt,said Canadian Prime Minister Stephen Harper,Canadians have not spent years reducing the ownership of sectors of the economy by our own governments,only to see them bought and controlled by foreign governments instead.Foreign state control of oil sands assets has reached the point at which further foreign state control would not be of net benefit to Canada.
From now on,state-owned enterprises may only own minority stakes in Canadian enterprises,except in exceptional circumstances.
What we are doing here is preventing a situation which I see developing and have been worried about for a while now,where in the name of an open,globally competitive economy,we could see the transformation of our economy into a state-run economy-just a state-run economy not run by our own government.
Besides the CNOOC deal,Canada also approved the takeover of gas company Progress Energy Resources by Malaysia's state-owned firm Petronas for 5.3 billion dollars.
The CNOOC deal is the Chinese firm's largest offshore acquisition ever.CNOOC is also asking the US government to review its bid for Nexen's Gulf of Mexico assets.
Canada needs about 657 billion dollars of investment in the natural resources sector in the next decade.There were no Canadian bidders for Nexen.
CNOOC made significant commitments on transparency,employment and capital investments in exchange for government approval of the deal.
Nexen,Inc.(NXY),CNOOC Ltd(CEO),Petronas Gas Bhd(KUL:PETGAS)
Sunday, May 27, 2012
Asia This Day:Diamond Jeweler Expands
China's industrial earnings fell 2.2% year over year in April,a survey across more than 40 industries indicates.The cause is an export slump on account of the Greek crisis and weakened global demand.For 2012,the profit growth is estimated to reach 10-20%,following a 25.4% increse in 2011.China's inflation is at 3.4%,which is below the government target.Former Malaysian Prime Minister Mahatir Mohammad said that if just Greece alone leaves the euro currency,it will not affect Asia that much.It will still be possible to confine the effect to Europe,instead of the rest of the world,Dr.Mahatir believes.On Thursday,the World Economic Forum Asia opens in Bangkok,Thailand.Leaders attending will discuss the region's economic health and how to sustain its growth.Graff Diamonds Corporation,Ltd. is having a one billion dollar initial public offering in Hong Kong.In addition,the London-based jeweler plans to open 11 new stores in Asia,with 8 of them being in China.They already have 18 direct-owned stores worldwide,catering to the super rich.Only 20 customers generate nearly half their revenue.Most Asian markets have opened for trading today,Monday,but South Korea's is closed for Buddha's birthday.The MSCI Asia Pacific Index was down 0.26% in early trading.
Sunday, April 1, 2012
Asia This Day:Petronas To Make Big Canadian Acquisition
The Malaysian state-owned oil and gas company,Petronas,intends to make a major Canadian acquisition.The firm is expected to spend about five billion dollars for a substantial foothold in North America.It's following China's lead in seeking global energy assets.In June 2011,the company aqcuired a stake in Canadian shale gas assets for just over a billion dollars.
China's purchasing managers' index came in stronger than expected.The PMI reading was at 53.1,with 50 showing economic expansion.The index is focused on large enterprises and is affected by seasonality.Natural resources such as rubber and copper will be more in demand on the China and U.S. outlooks.
Tropical Storm Pakhar has hit the coast of Vietnam.The first storm of the year,it will also be troubling Thailand.
Mainland Chinese and Vietnam markets are closed today,Monday,for holidays.It is Tomb Sweeping in China and the Hung Kings' Anniversary in Vietnam.China's markets will remain closed through Wednesday.The rest of the Asian markets opened largely higher this morning,with the MSCI Asia Pacific Index up 0.28%.Japan's markets rose despite a gloomy Bank of Japan Tankan survey of business sentiment,which logged a -4 reading,showing more pessimists than optimists among large businesses.
It was partly cloudy in Kuala Lumpur,Malaysia this morning,with a temperature of 82F.
China's purchasing managers' index came in stronger than expected.The PMI reading was at 53.1,with 50 showing economic expansion.The index is focused on large enterprises and is affected by seasonality.Natural resources such as rubber and copper will be more in demand on the China and U.S. outlooks.
Tropical Storm Pakhar has hit the coast of Vietnam.The first storm of the year,it will also be troubling Thailand.
Mainland Chinese and Vietnam markets are closed today,Monday,for holidays.It is Tomb Sweeping in China and the Hung Kings' Anniversary in Vietnam.China's markets will remain closed through Wednesday.The rest of the Asian markets opened largely higher this morning,with the MSCI Asia Pacific Index up 0.28%.Japan's markets rose despite a gloomy Bank of Japan Tankan survey of business sentiment,which logged a -4 reading,showing more pessimists than optimists among large businesses.
It was partly cloudy in Kuala Lumpur,Malaysia this morning,with a temperature of 82F.
Sunday, October 16, 2011
BHP Billiton Shopping in Brazil
Australian natural resource megafirm BHP Billiton is considering a three billion dollar U.S. bid for Brazilian miner Ferrous Resources do Brasil LTDA.BHP already has an extensive iron ore portfolio.Mid-tier miner stocks were doing well Monday morning in Sydney in response to this merger and acquisition prospect.
The MSCI Asia Pacific Index rose 1.11% early Monday,bolstered by hopeful news out of Europe as the G20 finance ministers promised to have a plan for the Euro debt crisis finalised in a week.
The New Zealand services sector grew more slowly than expected in September.
The dollar/yen was flat on Monday morning,while the euro/dollar fell.
At the Canton Fair in China,the world's largest trade expo,exporters pleaded for the U.S. to stop demanding that the Chinese currency,the yuan,appreciate further.It is at the breaking point for exporters now,one vendor remarked.Any further appreciation would mean no more cheap goods for U.S. retailers and a lot less sales for Chinese suppliers.Everyone would be hurt.
South Korean golfer Na Yeon Choi,soon to turn 24,won the Sime Darby LPGA Malaysia in Kuala Lumpur on Sunday.Taiwan's Yani Tseng,22,the world number one in the Rolex rankings,finished second.It was Choi's fifth career victory on the LPGA Tour,and the 100th win by a woman of Korean descent on the Tour,Choi pointed out.
It was 63F in Sydney on Monday under partly cloudy skies.The wind was S at 16 mph,and the humdity was 48%.
BHP Billiton Ltd.(BHP)
The MSCI Asia Pacific Index rose 1.11% early Monday,bolstered by hopeful news out of Europe as the G20 finance ministers promised to have a plan for the Euro debt crisis finalised in a week.
The New Zealand services sector grew more slowly than expected in September.
The dollar/yen was flat on Monday morning,while the euro/dollar fell.
At the Canton Fair in China,the world's largest trade expo,exporters pleaded for the U.S. to stop demanding that the Chinese currency,the yuan,appreciate further.It is at the breaking point for exporters now,one vendor remarked.Any further appreciation would mean no more cheap goods for U.S. retailers and a lot less sales for Chinese suppliers.Everyone would be hurt.
South Korean golfer Na Yeon Choi,soon to turn 24,won the Sime Darby LPGA Malaysia in Kuala Lumpur on Sunday.Taiwan's Yani Tseng,22,the world number one in the Rolex rankings,finished second.It was Choi's fifth career victory on the LPGA Tour,and the 100th win by a woman of Korean descent on the Tour,Choi pointed out.
It was 63F in Sydney on Monday under partly cloudy skies.The wind was S at 16 mph,and the humdity was 48%.
BHP Billiton Ltd.(BHP)
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