• Singapore & World Biz  |  MAY 22, 2015 4:14 PM

    Bumi Resources gets 5-month extension of debt moratorium

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    PT Bumi Resources, Asia’s most-indebted coal miner, obtained a five-month extension of a debt moratorium, allowing it to fend off creditors after it defaulted on two of its dollar bonds last year. The extra time granted by a Singapore court …

  • World Biz  |  MAY 22, 2015 3:19 PM

    Mazda, Subaru & Mitsubishi joins in Takata air bag recall

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    Japan’s Mazda Motor Corp, Fuji Heavy Industries Ltd and Mitsubishi Motors Corp said on Friday they would recall about 720,000 more cars equipped with air bag inflators made by parts supplier Takata Corp. The recalls follow similar moves last week by other Japanese automakers to …

  • Property & World Biz  |  MAY 22, 2015 3:11 PM

    Indonesia to ease mortgage rule for first home buyers

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    Indonesia’s central bank will ease the loan-to-value requirement for mortgages to 80% from the current 70% for first-home buyers, Bank Indonesia governor told reporters on Friday. The changes will only apply for banks who manage a healthy mortgage portfolio with a non-performing ratio at …

  • Finance & World Biz  |  MAY 22, 2015 2:56 PM

    AIIB aims to be operational by year-end

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    China-backed Asia Infrastructure Investment Bank (AIIB) on Friday set an ambitious target to become operational by the end of the year after a three-day meeting of prospective founding member nations in Singapore. AIIB said in a statement that the meeting …

  • World Biz  |  MAY 22, 2015 11:37 AM

    Peugeot’s Chinese JV to start production in Vietnam

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    French automaker PSA Peugeot Citroen and its Chinese joint venture partner Dongfeng Motor Group will open an assembly plant in Vietnam and have already begun production in Malaysia, Chinese state media reported on Wednesday. Dongfeng Peugeout Citroen Automobile is producing …