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LG chairman apologises over gas leak, fire

LG Group chairman Koo Gwang-mo apologised Wednesday (20) over two fatal accidents at LG Chem facilities in the past two weeks, reports said, including a gas leak in India that killed 12 people. LG Group is the fourth-biggest of the chaebols, the family-controlled conglomerates that dominate business in South Korea, the world’s 12th-largest economy. LG […]

COVID-19: SAARC nations unveil stimulus packages to protect economy

In a bid to protect the economy from COVID-19 pandemic, the South Asian Association for Regional Cooperation (SAARC) member nations have unveiled economic stimulus packages. India, a $2.9 trillion economy – the biggest in the eight-member SAARC grouping, has unveiled $22.6 billion economic stimulus plan, providing direct cash transfer to poor senior citizens and women […]

COVID-19 to hit Asia’s growth: World Bank

THE coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said on Tuesday (31). The bank said that the growth in developing economies in the region to slow to 2.1% in 2020, and to -0.5% in a lower-case scenario, compared […]

This Chinese auto-firm is now the world’s largest face mask maker

CHINESE electric vehicles maker BYD Co has announced that it is now the world’s biggest face mask maker. The company’s Shenzhen facility in China now produces five million masks a day and is now further expanding capacity. Besides, the plant also produces over 300,000 bottles of disinfectants per day. The company has managed to expand […]

Indorama Ventures secures Thailand’s first sustainability loan

CHEMICAL manufacturer Indorama Ventures Public Company Limited (IVL), has secured Thailand’s first-ever cross-border sustainability-linked ninja loan of £211million. This syndicated loan of £211m with five-year maturity comprises of 16 Japan-based banks and institutions. The loan is structured with linkage to the sustainability performance of IVL and have a mechanism to adjust to a lower interest […]

Indorama, Coca-Cola ink deal to build recycling plant

INDORAMA VENTURES and Coca-Cola have inked a joint-venture to establish PETValue, the largest state-of-the-art, bottle-to-bottle recycling facility in the Philippines. The facility will be established at General Trias in Cavite, located on the southern shores of Manila Bay. The plant is expected to be operational in 2021 with the support of Coca-Cola Beverages Philippines, Inc […]

COVID-19 will cut global growth by 0.1% to 0.4%, says ADB

THE Asian Development Bank (ADB) said on Friday (6) that the coronavirus outbreak is set to trim economic growth in developing Asia and around the world this year. The outbreak could slash global gross domestic product by 0.1 to 0.4%, with financial losses forecast to reach between $77 billion and $347 billion, the Manila-based lender […]

Corona beer: Accidental victim of virus spread

THERE is an accidental victim to the coronavirus spread in the word-a beer brand. Anheuser-Busch In Bev, commonly known as AB InBev, which owns ‘Corona beer’ is facing its worst quarter in 10 years following the virus outbreak. In the last two months since coronavirus has been spreading throughout China, the company has suffered a […]

Coronavirus may hit Samsung output from Vietnam

Vietnam’s manufacturing sector is suffering supply chain problems caused by the coronavirus epidemic, which may delay production of Samsung Electronics’ new phones, the Ministry of Industry and Trade said on Friday (21). Samsung is Vietnam’s largest single foreign investor. The epidemic would have an impact on the production of two new phone models as most […]

Malaysia seeks end to Palm Oil tension with India

MALAYSIAN prime minister Mahathir Mohamad has dialled back his criticism of India after it sparked a boycott of Malaysian palm oil, his chosen successor Anwar Ibrahim told on Thursday (6), urging New Delhi to note the change in tone. India, the world’s biggest buyer of edible oils, last month imposed curbs on refined palm oil […]

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