February, 2016

• 18 February

  Japan LNG imports fall most in 6 years

  

  Tokyo / Bloomberg The world’s biggest buyer of liquefied natural gas said imports fell the most in more than six years as nuclear reactors restarted and warm weather cut demand. Shipments of the super-cooled fuel to Japan fell 14.1 percent in January, the biggest drop since May 2009, to about 7.2 million metric tons from a year earlier, according to ...

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• 18 February

  Apple launches payments service in China

  

  Shanghai / AFP Apple on Thursday launched its mobile payment service Apple Pay in China, pitting the US technology giant against strong domestic rivals in a large but already crowded market. Success in the world’s second-largest economy is crucial for the California-based firm. Apple Pay is available in only a few other countries including the United States, Britain, Canada and ...

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• 18 February

  Toyota recalls 2.9mn vehicles worldwide over seatbelt defect

  

  Tokyo / AFP Toyota said on Thursday it was recalling 2.87 million vehicles globally due to the possibility that their rear seatbelt could come apart in a crash and cause injuries. The recall involved Toyota’s RAV4 sports utility vehicle made between July 2005 and August 2014 and between October 2005 and January 2016. The announcement also involves its Vanguard SUV ...

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• 18 February

  Vietnam’s VietJet Air signs US$3.04bn deal

  Singapore / AFP Vietnamese budget carrier VietJet Air said on Thursday it had signed a $3.04 billion deal with US engine maker Pratt & Whitney, underscoring the growth potential of Southeast Asia’s low-cost airline market. The engines will power the 63 Airbus A320neo and A321neo aircraft ordered by the carrier, VietJet said in a statement at the Singapore Airshow. The ...

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• 18 February

  An impending recession?

  

  It’s economists versus the stock market. Economists generally don’t forecast a recession anytime soon. The stock market does — or at least that’s one plausible interpretation of its recent roller-coaster behaviour. Who’s right? We’ll know in a few months. Meanwhile, the dispute highlights the incomplete nature of the present recovery, which has lasted a long time but, to millions of ...

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• 18 February

  Oil output freeze deal a positive sign

  The proposal to freeze oil output at January levels by Saudi Arabia, Russia, Venezuela and Qatar is a silver lining for the market and crude producers, as it signifies a genuine attempt to reverse sharp slide in oil prices that has pummeled economies, markets and companies. While the deal is preliminary, it’s the first significant cooperation between OPEC and non-OPEC ...

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• 18 February

  Here’s another reason to worry about banks

  

  For investors seeking reasons to worry about banks, here’s another: They’ve lent a lot of money in currencies that borrowers will have a hard time paying back. The phenomenon illustrates how capital flows work in a financially integrated world — and how they can contribute to booms and busts. As the U.S. Federal Reserve and the European Central Bank held ...

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• 18 February

  How China still outpaces India

  

  India, it seems, is replacing China as Asia’s star economy. While China’s growth has slipped below 7 percent, new reports suggest that India’s economy will expand by 7.6 percent in the fiscal year ending in March. Leaving aside the accuracy of these figures, the preoccupation with growth rates has obscured an equally important trend: China is blowing India away in ...

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• 18 February

  Indonesia central bank cuts rates for second straight month

  

  JAKARTA / Bloomberg Indonesia’s central bank reduced its main interest rates and reserve ratio for lenders, taking more determined action to boost the economy in the face of political pressure. Governor Agus Martowardojo and his board lowered the benchmark reference rate by 25 basis points to 7 percent, Bank Indonesia said Thursday. That’s in line with the forecasts of 17 ...

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• 18 February

  Rabobank Groep profit goes up 20% in 2015

  

  Bloomberg Rabobank Groep, the biggest Dutch mortgage lender, recorded a 20 percent rise in full-year profit after loan impairment charges plunged in 2015. Net income jumped to 2.2 billion euros ($2.5 billion) from 1.8 billion euros for 2014, the closely held bank said in a statement on Thursday. Goodwill impairments fell 61 percent to 1 billion euros for the year ...

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