Association Of Southeast Asian Nations News
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Standard Chartered Plc, which generates more than three quarters of operating profit in Asia, will tap rising demand for wealth management products in Southeast Asia to bolster growth, Chief Executive Officer Peter Sands said.
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Activists complain that U.S. President Barack Obama, who welcomes Myanmar’s President Thein Sein to the White House this week, is embracing the former general too soon, before he’s proved his reformist bona fides. In fact, Obama is late to the party.
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Nippon Steel & Sumitomo Metal Corp. and JFE Holdings Inc., Japan’s top steelmakers, will reclaim marketshare lost to faster-growing Asian rivals, including Chinese suppliers, helped by a weaker yen and Prime Minister Shinzo Abe’s currency policies, analysts said.
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The tiny Persian Gulf nation of Qatar controls vast gas and oil deposits that feed billions of dollars annually into the state Treasury. Its petroleum riches make it the wealthiest nation per capita in the world, according to the International Monetary Fund.
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Japan said it will boost financial cooperation with Southeast Asian nations, support their bond markets and make it easier for Japanese companies to raise funds in local currencies.
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Philippine President Benigno Aquino spent a third of his working days in the past two months campaigning for allies seeking seats in the senate, where he barely won the vote to raise tobacco and liquor taxes.
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Malaysia’s ringgit advanced for a third day, the longest rally in three weeks, on speculation further monetary easing in Japan and Europe will boost demand for emerging-market assets.
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Billionaire Dhanin Chearavanont’s CP All Pcl plunged the most in more than four years after offering to pay $6.6 billion for Siam Makro Pcl on investor concern the price was too high.
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When billionaire Dhanin Chearavanont needed cash in 2005, he sold a stake in Thailand’s biggest wholesale chain for 60 baht a share. Eight years later, he’s offering 13 times that to reassemble his empire.
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The Philippine central bank will keep the option of another cut in the rate it pays for funds in so-called special deposit accounts, Governor Amando Tetangco said three weeks before the next policy meeting. The peso fell.
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