Pioneer to Get Bailout from Hong Kong Firm
September 12, 2018
Tokyo- Struggling Japanese car electronics maker Pioneer Corp. said Wednesday that it will receive financial assistance from Hong Kong-based investment firm Baring Private Equity Asia. Pioneer will accept an equity investment of between 50 billion yen and 60 billion yen
Panasonic Fails to Declare 42 B. Yen in Taxable Income
September 12, 2018
Osaka- Japanese tax authorities have concluded that Panasonic Corp. failed to declare some 42.1 billion yen in taxable income over the two years ended in March 2017, the company said Tuesday. The Japanese electronics maker sold its entire stake in
Nippon Rent-A-Car to End 24-Hour Services at All Outlets
September 12, 2018
Tokyo- Nippon Rent-A-Car Service Inc. said Tuesday that it will stop round-the-clock services at all outlets across Japan by Dec. 10 as part of work-style reforms. The Tokyo-based company is the first Japanese car rental operator to fully end 24-hour
Peso closes at new 12-year low of P53.94:$1
September 11, 2018
The Philippine peso closed at a new 12-year low of P53.94 against the US dollar on Tuesday, six centavos down from the previous day. Volume at the Bankers Association of the Philippines foreign exchange portal reached $434.1 million from Monday’s
Renesas to Buy U.S. Chipmaker IDT
September 11, 2018
Tokyo- Major Japanese chipmaker Renesas Electronics Corp. said Tuesday that it will acquire U.S. industry peer Integrated Device Technology Inc. for 6.7 billion dollars. Renesas plans to complete the acquisition by June 2019, after necessary procedures, including approval from shareholders
U.S. Investment Firm Altaba to Sell Yahoo Japan Shares
September 11, 2018
Silicon Valley- U.S. investment firm Altaba Inc., formerly Yahoo! Inc., said Monday that it will sell all of its stake in Internet portal Yahoo Japan Corp.. Taking over former Yahoo’s investment assets, Altaba has managed the shares of Yahoo Japan,
Philippines July trade deficit reaches $3.51b from June’s $3.35b
September 11, 2018
The Philippines’ trade deficit rose to $3.51 billion in July from $3.35 billion in the previous month and from a gap of $1.31 billion in the same period last year, the Philippine Statistics Authority (PSA) said Tuesday. Exports grew by
Peso “moving in tandem with Asian currencies amid severe exchange rate volatility”: DOF bulletin
September 11, 2018
The Philippine peso, which was three centavos off the P54 to the US dollar in morning trading on Tuesday, “has been moving in tandem with Asian currencies amid severe exchange rate volatility spawned by the global trade war, the Turkey-Argentina crisis
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