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Company in Asia

  • Japan Tobacco to buy U.S. e-cigarette maker

    JAPAN, 2015/05/02 Japan Tobacco said on Thursday it had agreed to buy Florida-based e-cigarette maker Logic Technology Development LLC as it aims to become a world leader in the nascent, but fast-growing, market. Japan Tobacco will fund the acquisition with existing cash and loan facilities, and expects to complete the transaction in the third quarter of this year following regulatory approval, it said.

  • Alibaba to Open Data Center in Silicon Valley

    CHINA, 2015/03/07 China’s major Internet company, Alibaba, is adding to its modest presence in Silicon Valley, but not in the way a lot of have expected. In an announcement on Wednesday, the Chinese e-commerce giant said it planned to open its initial data center outside of China in Silicon Valley. Instead of supporting the company’s hugely popular e-commerce sites, the center will help Alibaba spread a less well-known but growing side of its business: cloud services for businesses. Similar to the services offered by Amazon that lease computing power to businesses, Alibaba has been slowly wooing clients in China to use its services. A lot of vendors who sell on Alibaba’s e-commerce sites use the services, but it has been slowly adding larger clients. The company said the new data center would initial cater to Chinese businesses operating in China, but in the second half of the year do additional to aim at foreign clients. The company did not specify at the same time as the center would open, how much it was investing in the center, or how large it would be.

  • Portuguese group EDP sells 50 pct of EDP Asia to ACE Asia

    HONG KONG, 2015/01/01 Energias de Portugal has sold 50 % of its stake in EDP Asia – Investimento e Consultoria, Ltda. to ACE Asia, a subsidiary of CWEI Hong Kong Company Limited, a 100 %-owned subsidiary of China Three Gorges, the group said. In a statement filed with the Portuguese Securities Market Commission (CMVM), the group as well said that the parties valued the 50 % stake in EDP Asia at 94 million euros.

  • ANA and Ethiopian Airlines- a more intense partnership sealed

    JAPAN, 2014/10/19   Star Alliance Members, Ethiopian and ANA, Launch Code-Share October 17, 2014 – Ethiopian Airlines, the flag-carrier airline of Ethiopia, and ANA, Japan's leading airline group, signed a code-share agreement. From October 26, 2014, the traveling public will enjoy seamless bookings on ANA and Ethiopian Airlines Network from Japan to 49 destinations in Africa through joint connecting airports of both carriers in Bangkok, Hong Kong, Frankfurt, Paris, London, on all code shared flights.

  • China and India get iPhone 6 models

    CHINA, 2014/10/18 iPhone fever hit China afresh as the 6 and 6 Plus handsets officially went on sale there on Friday. Software security concerns raised by government regulators had delayed their launch in the world’s major smartphone market. Apple won approval to sell the phones next it reassured Beijing they do not have security “backdoors” through which US intelligence agencies could access users’ data.

  • AirAsia warns its customers about online scam

    MALAYSIA, 2014/10/05 AirAsia has asked its customers to be wary of an online lottery scam which purportedly uses the airline’s name to solicit personal data from victims. The e-mail scam, which has been circulating since 2011, targets Sabahans and would inform the recipients that they had won an exclusive appropriate bonus programme from AirAsia. It would say that AirAsia had approved a RM300,000 payment to the recipient and would ask the person to contact an individual named JK Allen, through a dodgy e-mail such as [email protected] or [email protected].

  • 14 companies from Greater China recognized as Global Growth Companies

    CHINA, 2014/09/10 People’s Republic of China – The World Economic Forum today announced its selection of World Increase Companies (GGCs) in Better China, consisting of 14 of the region’s most dynamic and high-increase companies. These companies are considered trailblazers, shapers and innovators that are committed to improving the national of the world. GGCs are fast-growing companies with the clear potential to become world economic leaders. The 14 nominated GGCs from Better China represent a broad cross section of industrial sectors, but share in common a track record in exceeding industry standards in revenue increase, promotion of innovative business practices and demonstration of leadership in corporate citizenship.

  • A Malaysia Airlines air stewardess wipes her eyes during a memorial for victims of MH370 and MH17 at Malaysia Airlines headquarters in Kuala Lumpur.

    MALAYSIA, 2014/09/01 Malaysia Airlines will cut 6,000 workers as part of an overhaul announced Friday to revive its damaged brand next being hit by double passenger jet disasters. The staff reduction represents about 30 % of its current workforce of 20,000. A search for a new CEO for the airline is underway. Khazanah Nasional, the national investment company that owns 69 % of the airline, said the overhaul includes the establishment of a new company that will take over the existing Malaysia Airlines business and its reduced staff.

  • Alibaba aims to launch share sale in early September,

    CHINA, 2014/08/31 Chinese e-commerce company Alibaba Group Holding Ltd is planning to launch its New York stock market debut in the week of Sept. 8, a person briefed on the matter told Reuters on Saturday. The much-anticipated sale or initial public offering (IPO) could raise additional than $20 billion, making it the biggest technology listing in the United States. The company is still awaiting final approval from the U.S. Securities and Exchange Commission (SEC) to kick-off the listing, the person said, adding that the date was still a moving target. The source declined to be identified as the data is not public.

  • Bangkok Airways’ IPO imminent

    THAILAND, 2014/06/10 Puttipong Prasarttong-Osoth, president of the privately-owned regional airline, said the IPO, which may raise 10 billion baht in proceeds, could take place towards the end of July or early August. "Things are looking up from an economic point of view next the National Council for Peace and Order took control, and the stock market has not tumbled as some anticipated, so there is no point in putting off our IPO any longer,'' he told Bangkok Post. The Stock of Exchange of Thailand (SET) has done relatively well next the May 22 coup, showing the Thai capital market is intact and ready to accommodate new issues from companies like Bangkok Airways, he added.
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