Asia

Asia

02 Sep 2015
Big retailers in the U.S. are dragging their Chinese suppliers back to the table to re-negotiate order contracts and take advantage of lower manufacturing costs following Beijing’s sharp devaluation of the yuan.
Sue Abt artwork
28 Aug 2015
When China devalued its currency in mid-August after a 10-year run-up against the dollar, the People’s Bank of China described the move as a natural step toward the creation of a market dominated Chinese exchange rate. No one in the market — not importers, exporters, manufacturers, investors or analysts — bought the message. Global stocks and commodity markets sold off at an astonishing rate, triggered by fears that China could launch a prolonged currency war that would boost its own exports at the expense of those it buys from, including the U.S.
28 Aug 2015
ST. PETERSBURG — The Russian government said it’s cracking down on port and customs corruption by dismissing several St.
28 Aug 2015
China carrier Nan Tsing Container Lines told employees it has suspended all business operations and was preparing to dismiss staff because of mounting debts amid a slowdown in domestic shipping.
28 Aug 2015
Air China Cargo turned around its financial fortunes in the first half of the year with a 23.5 percent increase in freight carried on the airline’s network taking the mainland’s flag carrier to a $17 million net profit.
27 Aug 2015
A plummeting stock market and the devaluation of the yuan have knocked China down a peg, but the Asian manufacturing powerhouse will still grow its trade with the world more than 5 percent annually over the next five years, according to a recent IHS forecast.
27 Aug 2015
Global terminal operator DP World reported a 22 percent increase in net profit during the first half of 2015 but said it expects growth to slow amid a “challenging” global economy during the rest of year.
27 Aug 2015
Russian railway monopoly RZD plans to build a $30 million inland hub aimed at reducing congestion at the nearby St. Petersburg port and handling transshipped cargo from the country’s largest container gateway.
27 Aug 2015
The listed units of China’s two largest shipping lines reported their interim results today with wildly diverging profits achieved by the two state-owned carriers in the first six months of the year.
27 Aug 2015
Gateway Terminals India, or APM Terminals Mumbai, said it is taking all the necessary steps to speed up its gate activity that has drawn complaints from logistics providers operating in Jawaharlal Nehru Port Trust, the country’s busiest container gateway.
27 Aug 2015
Tianjin Port Group chief executive officer Zheng Qingyue has been accused of dereliction of duty by China’s highest prosecutions agency after an investigation into the huge Tianjin blasts that killed at least 145 people earlier this month.