Nasdaq-listed China Biologic Products Inc has announced that it received approval from the Shandong Provincial Health and Family Planning Commission to build a new branch collection facility in Shandong Province. China Biologic said in a statement that its majority-owned subsidiary Shandong Taibang Biological Products Co Ltd received the approval to build the facility, which will operate under the company’s Ningyang plasma collection station. The company, which is a fully integrated plasma-based biopharmaceutical firm in China, will be a branch of the existing Ningyan plasma collection station. “The approval of a new collection facility in Shandong represents meaningful progress in our…
Author: Business News Asia
Business News Asia
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Business process outsourcing (BPO) firm Callbox, one of the original BPO companies, to invest in Iloilo City, is investing an additional Php50 million to expand its operations in the city. Callbox chief executive offficer Rom Agustin stressed that the Php50 million investment bodes well for its plan to create 2,000 new jobs by 2016. Callbox will acquire more facilities as well additional manpower to strengthen its growing worldwide operations. “The expansion will secure a dynamic future for the company, bolster our commitment to deliver quality services, and provide a terrific boost to the local economy by creating more full-time jobs…
Four major cities in Southeast Asia have ranked in the top 10 among the global economies that are at risk from a series of threats over the next decade, according to new research launched today by Lloyd’s, the specialist insurance market. The Lloyd’s City Risk Index 2015-2025 presents the first ever analysis of economic output at risk (GDP@Risk) in 301 major cities across the world from 18 man-made and natural threats over a ten-year period. Based on original research by the Cambridge Centre for Risk Studies at the University of Cambridge Judge Business School, the Index finds that a total…
The Philippines’ reputation as one of the world’s top destination for business process outsourcing (BPO) has been further boosted after the US-based BPO firm NexGen Agency launched its social contact and command center, NexGen BPO Philippines, in the country. Situated in Manila, the capital of the Philippines, the NexGen BPO Philippines center is set to deliver deliver customer support operations for the global clients of NexGen Agency, a provider of integrated contact center solutions and social media management services. This location will provide outsourced customer service, lead generation, specialized research, chat and email support, social media management and other business…
Telstra, an Australian telecommunications company, and Philippine business process outsourcing (BPO) firm TeleTech recently opened a new contact center in the Philippines. The facility, located at the Five E-Com building in Pasay City, consists of three floors which will host Telstra and TeleTech employees and a recruitment center. Telstra has been in the Philippines since 2007, when the company began operating with local industry partners. It launched its first Telstra-operated call center in Manila in 2013, and a second one in Cebu in 2014. “Our investment in this fantastic center is an expression of how important customer service is to…
Listed gaming technology provider DFNN Inc. said its consolidated revenues for the first half of the year more than doubled to P124.8 million, an increase of 179.4 percent or P80.1 million from the same period last year, according to a Manila Times report. In a financial report, the company said earnings before interest, taxes, depreciation and amortization (EBITDA) for the first half amounted to P9.6 million, reversing last year’s deficit of P21.5 million. Cost and expenses for the period amounted to approximately P116.2 million, a P50.2 million increase from the same period last year. The company said it plans to…
CEBU CITY – At the recent closing of the 23rd APEC Auto Dialogue (AD) held in Cebu on 29 August 2015, member economies identified barriers that hinder enterprises from successfully operating internationally. The AD endorsed strategies for better integration and development of the automotive sector in the Asia Pacific region. Ma. Corazon Halili-Dichosa, Executive Director of the Board of Investments (BOI) and Chair of the 23rd Auto Dialogue said that much of the trade in APEC is focused on auto components and parts, including high tech electronics, metal work, plastic manufacturing and logistics services. She also cited studies that identified…
The Singapore Exchange (SGX) has welcomed the listing of Aspial Treasury Pte Ltd.’s five-year retail bonds with a coupon rate of 5.25 percent per annum, payable half-yearly, on the Mainboard under the stock code, “BEYZ”. Aspial Treasury provides financial and treasury services to its guarantor, Mainboard-listed Aspial Corporation Limited, and to its joint venture and associated entities. A SGX-listed company since 1999, Aspial is an investment holding company that engages diversely in jewellery, property development and financial service businesses. It is the proprietor of Lee Hwa, Goldheart, CITIGEMS and Maxi-Cash brand names, operating an extensive network of more than 90…
NIGERIA – Nicon Insurance, one of the top insurance firms in Nigeria, is reportedly selling N20 billion (USD100 million) worth of its assets in a move to meet the insurer’s financial obligations and convert into cash assets that are no longer useful to the company. In a statement addressed to the members of the Nigerian Council of Registered Insurance Brokers (NCRIB), Nicon Insurance Managing Director Bayode Samuel announced that N10 billion (USD50 million) of the company’s assets will be disposed before December of this year while the other N10 billion will be sold later. The decision to dispose of the…
TARLAC, PHILIPPINES – A group of mountaineers who were trying to cross a river in sitio Baag in the village of San Pedro were instead swept by the strong current, killing five of them. The five fatalities happened to be in the middle of the river when the water swelled due to heavy raings. They were identified as Mark Raven Villanueva, Rocky Sumalinog, Jose Bernadette Ramirez, Jo Marie San Diego and Dooren Adriano. The victims were part of the 54 mountaineers that conducted an outreach activity in the area Sunday afternoon, said Tarlac Provincial Police Director Senior Supt. Alex Sintin.…
CEBU CITY, PHILIPPINES – A local police official here said the Asia-Pacific Economic Cooperation (APEC) meetings in Cebu have so far been peaceful and orderly with no reported cases of threats to the safety of the delegates, the Philippine News Agency has reported. “It could be because of the participation of not only all government agencies, but also the community. That’s why we are thankful to the community for their support for our operations,” chief of the Regional Directorial Staff in Central Visayas, Police Senior Superintendent Rey Lyndon Lawas, told reporters in a press briefing. Lawas said they are heightening…
CEBU CITY – The Philippines through the Department of Health (DOH) called on member economies of the Asia Pacific Economic Cooperation (APEC) to promote good health in order to stimulate and sustain economic and social development. The APEC 2015 theme, “Building Inclusive Economies, Building a Better World”, underscores the significance of promotion in economic cooperation and advancement of inclusive growth in the Asia-Pacific Region to attain productivity and enhance the quality of life of populations across the region, the DOH said in a statement. The Philippines identifies four priority areas in drafting the roadmap for the Free Trade Area of…
Philippine flag carrier Philippine Airlines (PAL) announced a USD20-million total comprehensive income in 2014, the airline’s first positive income after a three-year losing streak. In a statement issued after its annual stockholders’ meeting, PAL announced that its 2014 financial performance represented a dramatic turnaround from the loss of USD229.7 million from April to December of 2013. The airline, however, described its financial performance last year as modest but significant. In the first seven months of this year, PAL said it was able to sustain its upward momentum due to a favorable industry climate. From January to July of this year,…
Intel Corporation has invested more than USD60 million into a Shanghai-based drone and aerospace firm Yuneec International, as other technology firms are exploring the actual commercial uses of drones. The investment was announced by Intel Chief Executive Officer Brian Krzanich in a video. He said Intel wants to bring the smart and connected world to everyone and everywhere and one of the best ways for the company to achieve that has been drones. “We’ve got drones on our road map that are going to truly change the world and revolutionize the drone industry,” Krzanich said in the video. With the…
Senior Officials of the Department of Trade and Industry (DTI) will meet counterparts from Asia-Pacific Economic Cooperation (APEC) member economies at various meetings of the Third APEC Senior Officials Meeting (SOM3) set for August 22 to September 6 in Cebu City. APEC SOM3 will focus on the implementation of the Boracay Action Agenda to Globalize Micro, Small, and Medium Enterprises (MSME) in APEC. The Boracay Action Agenda, a Philippine-led initiative which aims to encourage the participation of MSMEs in global and regional trade, received broad support from the 21 APEC member economies during the two-day APEC Ministers Responsible for Trade…
MALAYSIA – Kuala Lumpur-headquartered universal bank CIMB Group posted a 32.6 percent decline in net profit in the second quarter of this year to MYR639.75 million (USD152.6 million) from a year ago. In a statement, the bank attributed the net profit decline to higher loan loss provisions mainly from Indonesia. During the same quarter of last year, CIMB posted net profit of MYR949.94 million (USD226.63 million). Net profit for the first half of its current fiscal year was also lower at MYR1.22 billion (USD291m) from the previous period’s MYR2.02 billion (USD482 million). In its second quarter ended 30 June 2015,…
McCann Worldgroup China CEO Jesse Lin has been promoted to Vice Chairman of McCann Worldgroup Asia Pacific and Chairman of MRM/McCann APAC, the group said in a statement. Lin will continue to serve as CEO of McCann Worldgroup in China even after the promotion. With his new role, Lin will work with Prasoon Joshi and Charles Cadell, chairman and president of McCann Worldgroup Asia Pacific, respectively. He will also report to MRM//McCann’s worldwide Chairman Bill Kolb and CEO Michael McLare to drive accelerated growth by building on the strong foundation that already exists in key APAC markets including China, Thailand,…
ATLANTA – More than 1,700 employees have received direct assistance from the Cox Employee Relief Fund (CERF) since it was established a decade ago. CERF was established by members of the Cox family and the James M. Cox Foundation hours after Hurricane Katrina devastated some parts of the United States. The fund announced that it has surpassed USD4 million in employee grants since it was established. “CERF represents the best of our company’s culture and values,” said Cox Enterprises’ Chairman Jim Kennedy. “Through CERF, support for our employees extends beyond the workplace and makes a meaningful difference in their lives…
Hong Kong-based corporate investigation consultancy firm Verity Consulting Ltd was named “Best Corporate Intelligence and Investigation Services – Hong Kong” and “Best in Fraud Prevention – Hong Kong” in the 2015 M&A Awards. The Awards, sponsored by UK-based AI Global Media, Acquisition International Magazine, and DealFlow Source, celebrate the outstanding efforts and achievements of all those involved in identifying, coordinating and seeing through to completion those important deals that could make a huge difference to a business, a local economy or even an entire country. Kelvin Ko, Managing Director of Verity Consulting Limited, expressed his sincere appreciation for winning the…
Teleperformance, one of the world’s top providers of outsourced customer experience management services, received its fourth consecutive Frost & Sullivan Asia Pacific Contact Center Service Provider of the Year Award. Mark Pfeiffer, Executive Vice President of Teleperformance Global Management Team, accepted the award on behalf of Teleperformance at the 2015 Frost & Sullivan Asia Pacific ICT Awards banquet held at The Westin Singapore The Frost & Sullivan Asia Pacific ICT Awards program recognized Teleperformance for demonstrating best practices in the business process outsourcing (BPO) industry – showcasing diligence, commitment, and innovation in its business strategies to advance in the global…