May, 2016

• 25 May

  Mitsubishi’s testing scandal charge cuts profit by 19%

  

    Tokyo / Bloomberg Mitsubishi Motors Corp. booked a 19.1 billion yen ($174 million) charge to reflect losses related to its fuel economy testing scandal, which reduced profit last fiscal year by 19 percent and prompted a shake-up in top management. The Japanese automaker said it earned 72.6 billion yen for the fiscal year ended in March, rather than the ...

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• 25 May

  Toyota to expand Malaysia ops with $488 million plant

  

    KUALA LUMPUR / AP Japanese automaker Toyota Motor Corp. said on Wednesday that it will build a second factory in Malaysia as part of expansion to meet rising local demand. The new 2 billion ringgit ($488 million) plant will be built by Toyota and its local partner, UMW Corp. Toyota said that the plant, to be built in the ...

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• 25 May

  Asia hotbed of IT piracy despite economic growth, says watchdog

  

    Singapore / AFP More than 60 percent of all computer software installed in the Asia-Pacific in 2015 was unlicensed, the worst of any region, despite growing economies and anti-piracy efforts, an industry watchdog said on Wednesday. The Software Alliance — which includes giants like Microsoft, Apple, Intel, Oracle and Adobe — said in a report that the unlicensed software ...

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• 25 May

  Sime Darby posts $161.9mn profit

    KUALA LUMPUR / AFP Malaysia’s Sime Darby, the world’s biggest listed palm-oil producer, on Wednesday announced a 60 percent quarterly profit rise but warned of a tough outlook amid slow global demand and lower weather-reduced output. In a statement, Chief Executive Mohamad Bakke Salleh attributed the improved year-on-year earnings to sales of certain assets. The company had said in ...

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• 25 May

  Yemen peace talks ‘closer’ to agreement: UN envoy

  

    Kuwait City / AFP The UN envoy said on Wednesday that Yemen’s warring parties were closer to agreement at peace talks in Kuwait as he headed to New York to brief the Security Council. “We are moving towards a general understanding that encompasses the expectations and visions of the parties,” Ismail Ould Cheikh Ahmed said in a statement. “The discussions ...

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• 25 May

  Eritrea blames foreigners for refugee exodus

  Nairobi / AFP Eritrean President Isaias Afwerki has claimed the exodus of youth to Europe is a deliberate policy fomented by foreign powers to weaken the country, in a speech released on Wednesday. The hardline regime is accused of jailing thousands of political prisoners while refugees from the repressive Red Sea state have in recent years made up one of ...

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• 25 May

  Palestinian: New Israeli govt threat to regional stability

    Ramallah / AFP The appointment of a hardline right-winger as Israel’s defence minister represents a “real threat” to regional stability, a senior Palestinian official said on Wednesday. “The existence of this government brings a real threat of instability and extremism in the region,” Palestinian chief negotiator Saeb Erekat said, adding that the appointment would “result in apartheid, racism and ...

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• 25 May

  Afghan Taliban appoint new leader

  

    Kabul / AFP The Afghan Taliban on Wednesday announced Haibatullah Akhundzada as their new leader, elevating a low-profile religious figure in a swift power transition after officially confirming the death of Mullah Mansour in a US drone strike. The surprise announcement coincided with a Taliban suicide bombing that targeted court employees near Kabul, killing 11 people in an assault ...

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• 25 May

  Sri Lanka appeals for up to US$2bn in foreign flood aid

    Colombo / AFP Sri Lanka appealed on Wednesday for foreign aid to recover from massive floods that caused an estimated $2 billion worth of damage and claimed more than 100 lives. Finance Minister Ravi Karunanayake said 35,000 homes were damaged in last week’s floods triggered by the heaviest rain for early 25 years, with the capital Colombo the hardest ...

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• 25 May

  Twin assaults in Syria, Iraq pile pressure on IS

  

    Beirut / AFP Kurdish-Arab forces launched a major assault against the IS in Syria’s Raqa province and Iraqi forces advanced on it in Fallujah, piling pressure on the extremists in two strongholds. The twin offensives marked some of the most serious ground efforts against IS since the group declared its self-styled “caliphate” straddling the Syrian-Iraqi border in 2014. Territory ...

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