Line Corporation, owning entity of MixRadio has studied that 65% of its app users are from Far Eastern Countries. To uphold the company priorities for going regional, Line has decided to shutter MixRadio. Meanwhile, its Music streaming app will be restricted for the users of Japan and Thailand only.
Asia/Pacific
For Sale: Clean English Air, $115 per Jar
Clean air shortage in China forces wealthy residents to buy jars of it from a British entrepreneur. The company's name is Aethaer, a Greek word for 'pure, fresh air' and described the product as 'Louis Vuitton or Gucci' of fresh air. Each 580 ml jar of clean, fresh air costs around $115 or £80.
Asian hedge funds look to safe haven after January crash
Hedge funds in Asia witnessed losses the most in January 2016. The financial markets sell-off in the month made hedge funds suffer losses over 10 percent. Asia-focused hedge funds recorded losses of 3.1 percent indicating the worst beginning since 2008.
McDonald’s to introduce draft beer in a South Korean outlet
McDonald's is about to launch its experimental outlet in Seoul, South Korea, with draft beer. The fast-food giant has taken its first steps to introduce the concept of beer with hamburgers in Asia, having added this beverage long time back in its German, French, and Spanish outlets. If the Asian people embrace this concept, McDonald's is ready to open up two more similar outlets in Gangnam and Sinchon.
Airbus Secured $1.8 Billion Contract From Philippine Airlines
Airbus Group wins the contract for the Philippine Airlines' new aircraft order worth $1.8 billion. The Southeast Asian carrier is looking forward to carry passengers to New York and U.S. West coast.
Latest News
China is planning to put more budget in infrastructure. The country's planning agency expects to boost spending and increase investment to maintain 7% annual economic growth as last year.
Gulfstream has introduced larger cabin containing personal jets, the G650 family which is capable of flying with 92% speed of sound. The aircraft, valuing $65 million is witnessing a huge demand. The aircraft manufacture is going to offer a probable delivery schedule of 2018 in the upcoming Singapore Autoshow.
Shareholders of the Italian tyre maker Pirelli has nodded in favor of the proposed merger with Marco Polo Industrial Holding. Marco Polo’s parent concern ChemChina has acquired Pirelli for $8.25 billion last year. The merging is scheduled to be completed by mid 2016.
BoK has decided to keep hold benchmark interest rates in place on Tuesday. To tackle the ongoing sluggish economic growth, South Korean government has unveiled a stimulus package on February 3. BoK is predicted to analyze the impact of the stimulus package and hence opts for keeping rates unchanged.
Brazilian steelmaker Usiminas Siderurgicas de Minas Gerais SA, a Brazilian steel producer, is in the process of offloading its manufacturing unit. Usiminas has already hired Credit Suisse SA as its financial advisor for the unit sale. The sluggish global economy and China's economy slowdown are impacting the Brazilian steel industry in more negative way.
North Korea has been using giant statues as propaganda tool for more than 50 years. Now, it has exported locally crafted giant statues to increase the country's income.
The market volatility, rising dollar and sluggish global economy are forcing foreign investors towards the US small business credit market for growth opportunities. Foreign investors generally prefer to invest in US treasury bonds. But the prevailing global conditions are propelling them to park their funds in small business credit market.
The Philippines' largest company, San Miguel Corporation will sell bond to small investors. The company is aiming to cut dollar-denominated debt and protect its earnings.
Thai economy has reportedly grown 2.8% in 2015 while expected to grow by 2.8%-3.8% during 2016. The military ruler is about to loss support from the middle class segments due to sluggish economic growth. However, the growth in foreign investment portfolio brings some hope for the military ruler to boost up the economy.
