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  • Finland keen to invest despite Nokia’s tax issues

    INDIA, 2013/10/19 Despite Nokia’s woes with Indian tax authorities, Finland is keen to invest in India as it finds tremendous business opportunities here. However, Finland has taken up Nokia’s tax dispute with the Centre, and hopes to resolve it at the earliest. “I am hopeful that it (Nokia’s tax dispute) will be resolved any minute at this time. Of course it is part and parcel of the investment climate, and international investors will not come down if they feel that a particular company like Nokia or Vodafone has not been rightly treated. Again there will be quick thumbs down, and it will lead to loss of foreign direct investment (FDI),” Alexander Stubb, Minister for European Affairs and Foreign Trade, Government of Finland, told The Hindu.

  • Yingli Green Energy Q2 Loss Narrows, Confirms Annual PV Module Shipment Target

    CHINA, 2013/08/31 Photovoltaic manufacturer Yingli Green Energy Holding Company Ltd (YGE: Quote) Friday reported a narrower loss for the second quarter, as its PV module shipments touched a historical high. The company confirmed its PV module shipment target for the year. Net loss attributable to the company narrowed to 320.85 million yuan or $52.28 million from 572.98 million yuan last year. Net loss was 611.8 million yuan in the preceding initial quarter. Loss per share narrowed to 2.05 yuan or $0.33 compared to 3.66 yuan last year.

  • SocGen plans $300 million sukuk program in Malaysia

    FRANCE, 2013/08/28 Societe Generale will launch a 1 billion ringgit ($300 million) Islamic bond program in Malaysia, two sources familiar with the transaction told Reuters, becoming the second major European bank to issue sukuk and the initial to do so in Asia. SocGen, France’s second-major listed bank, is planning to issue the initial tranche of the sukuk by the year-end, said one of the sources, who declined to be identified as he was not authorized to speak on the matter. Western banks looking to raise capital are increasingly drawn to the Islamic bond market as the cost of credit is lower than in conventional markets. The Middle East unit of HSBC Holdings tapped the market in 2011 with a five-year$500 million issuance.

  • Asustek Computer Inc

    TAIWAN AREA, 2013/08/11 Asustek Computer Inc., one of the world's leading personal computer vendors, is planning to launch new notebook computer models in the United States in September in a bid to stir up buying in the current slow world PC market. In an investor conference held Friday, Asustek Chief Executive Officer Jerry Shen said that the PC vendor will team up with U.S.-based Microsoft Corp. and Intel Corp. to introduce the new models to consumers. Shen said the efforts to unveil new products next month aim not only to grasp a higher market share but as well boost world request and enlarge the pie in the world's PC market.

  • Indian carrier SpiceJet

    INDIA, 2013/07/20 Indian carrier SpiceJet saw its shares surge 8.1 % this week, despite the airline denying a news statement from vccircle.com that Gulf carrier Kuwait Airways was looking to pick up a nearly 25 % stake in the budget airline. "The news statement suggesting that a stake sale in SpiceJet is being considered to induct Kuwait Airways as a strategic partner is totally untrue and without any substance," SpiceJet said in an emailed statement. SpiceJet had said in January it received some interest from potential investors, but it would be premature to discuss the possibility of any concrete investments, Reuters reported.

  • Indian carrier SpiceJet

    INDIA, 2013/07/20 Indian carrier SpiceJet saw its shares surge 8.1 % this week, despite the airline denying a news statement from vccircle.com that Gulf carrier Kuwait Airways was looking to pick up a nearly 25 % stake in the budget airline. "The news statement suggesting that a stake sale in SpiceJet is being considered to induct Kuwait Airways as a strategic partner is totally untrue and without any substance," SpiceJet said in an emailed statement. SpiceJet had said in January it received some interest from potential investors, but it would be premature to discuss the possibility of any concrete investments, Reuters reported.

  • General Electric Indonesia plans to open a learning center

    INDONESIA, 2013/07/17 General Electric Indonesia plans to open a learning center to allow its corporate customers, primarily national-owned companies, to get the benefit of the GE experience that made its parent company one of the major and best-run companies in the world. The center will run programs to provide technical and leadership classes, GE Indonesia CEO Handry Satriago said on Monday. "We are the mecca for practical management. In the business world, people are dying to get the opportunity to learn from this," he said. 

  • Indian automotive manufacturer Tata Motors

    INDIA, 2013/07/03 Indian automotive manufacturer Tata Motors will launch six vehicle models to the Indonesian market starting in September. “The six models will be commercial and passenger vehicles. Other models will be introduced in the next phase,” Tata Motors Indonesia CEO Biswadev Sengupta said as quoted by Antara.

  • Panasonic Corporation president director Kazuhiro Tsuga

    JAPAN, 2013/07/03 Panasonic Corporation, Japan’s biggest home appliance manufacturer, is assessing the possibility of expanding its business in Indonesia by increasing local production capacity to meet request. Panasonic Corporation president Kazuhiro Tsuga said the short-term target would be upgrading the capacity of its existing factories. Domestic request for home appliances, particularly white goods like air conditioners, washing machines, refrigerators, water pumps and air ventilators are high, providing enormous rooms for increase.

  • BCA acquired life insurance company PT

    INDONESIA, 2013/07/03 The major private lender by assets, Bank Central Asia (BCA), has placed a stronger footprint in the non banking business next integrating a general insurance company under its corporation. BCA said on Tuesday that it had acquired a 75 % stake in life insurance company PT Central Sejahtera Insurance from its affiliated pension fund, Dana Pensiun BCA. According to an announcement made public on Tuesday, BCA and the pension fund agreed late last week the bank’s purchasing of a 75 % stake in Central Sejahtera Insurance for Rp 102 billion (around US$10.3 million).
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