Author: Business News Asia

PHILIPPINES – An unregistered passenger vessel overloaded with cargo capsized in the waters off Pata and Tapul Island in the province of Sulu Thursday night, the Philippine Coast Guard said today. Based on the report released by the military’s Joint Task Group Sulu (JTGS), the MPB Wilayza was believed to be overloaded with several sacks of cements, iron bars and more than 50 passengers and crew when it capsized Thursday night. The sinking occurred as typhoon Chedeng, international name Maysak, entered the Philippine Area of Responsibility Thursday night. Authorities, however, said the sea condition was normal when the vessel capsized.…

The international community has strongly condemned the brutal attack by militant group al-Shabab in Garissa University College in Kenya, Thursday, killing at least 147 people. Most of those killed were Christian students who were sleeping at the university dorms when the attacked occurred, authorities said. The United States has offered assistance in the fight against al-Shabab while other world leaders said they will assist in going after the terror group. Authorities said they have taken Garissa University College under control following the deadly attack. Four of the armed attackers were killed. Kenya immediately implemented a national curfew following the deadly siege.…

PHILIPPINES – An unregistered passenger vessel overloaded with cargo capsized in the waters off Pata and Tapul Island in the province of Sulu Thursday night, the Philippine Coast Guard said today. Based on the report released by the military’s Joint Task Group Sulu (JTGS), the MPB Wilayza was believed to be overloaded with several sacks of cements, iron bars and more than 50 passengers and crew when it capsized Thursday night. The sinking occurred as typhoon Chedeng, international name Maysak, entered the Philippine Area of Responsibility Thursday night. Authorities, however, said the sea condition was normal when the vessel capsized.…

Here are the top business stories around the world for April 2, 2015. McDonalds, Walmart Raise Workers’ Pay Fastfood giant McDonald’s and US retailer Walmart have voluntarily agreed to increase low-wage workers at its stores in the US, joining other major US companies to raise wages as the country’s economy has picked up. McDonald’s also said it will add benefits for its more than 90,000 workers. GoDaddy’s Stock Market Debut Makes a Splash Internet registrar GoDaddy Inc made a splash on Wednesday as its shares soared 31 percent on the first day of trading on the New York Stock Exchange.…

Zulkifli Bin Hir, alias Marwan, one of Southeast Asia’s notorious militants, was killed by Philippines troops in Mamasapano, Maguindanao, the US Federal Bureau of Investigation (FBI) has confirmed. The confirmation of Marwan’s death was hailed by the Philippine National Police (PNP) and Armed Forces of the Philippines (AFP), which have been under fire for the botched raid that killed 44 elite policemen. The raid was aimed at arresting Marwan, who was allegedly cuddled by the Moro Islamic Liberation Front (MILF). Marwan was a bomb-making expert. Officials said Marwan was responsible for dozens of bombings over the past decade that killed…

New York-based global financial information service provider Bloomberg LP announced plans to ramp up hiring of more news professionals in China this year as it seeks to localize operations in the country. Bloomberg Chairman Peter Grauer said the privately owned company will hire more news professionals in China, with focus on those who can write about what is going on in the markets using the local language. “We will also be in a position to translate stories from outside the country that are of interest to the local markets and the local economy as well,” he told China Daily, adding…

KENYA – At least 15 people were killed while more than 500 students remained unaccounted for after militants from the Somali terror group Al-Shabaab attacked Garissa University College in Kenya early Thursday, authorities said. The gunmen killed students and police officers and are holding hostages, a militant spokesman and aid officials confirmed. The situation was continuing, authorities said. “The attackers shot the students and university staff indiscriminately. We are in heavy operation as the attackers are still holding their position in the students’ hostel at the university,” according to a statement from Kenyan Police Inspector-General Joseph Boinnet. Authorities said the…

Typhoon Chedeng, international name Maysak, may not make landfall on Saturday as the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa), said the movement of the typhoon has slowed down. The weather agency in the Philippines said Chedeng could make landfall in Aurora-Isabela area on Easter Sunday, when most of the Christian Filipinos travel via boats and planes to go back to their work the following day. Pagasa also delayed the raising of public storm signals from Thursday afternoon to Thursday night because of the slow movement of the typhoon. “Typhoon Chedeng has slightly weakened as it continues to move…

PHILIPPINES – At least three persons were killed while 13 others were injured when a passenger van collided with a passenger bus in Kauswagan, Lanao del Norte, Thursday. The vehicular accident occurred just as millions of Filipinos rush to their hometowns to observe the Holy Week, commemorating the passion and death of Jesus Christ. Kauswagan Police Station Chief Senior Insp. Mark Anthony Quita said the passenger van crashed head on with the bus owned by Rural Transit Mindanao Incorporated along the national road of Kauswagan in the province of Lanao del Norte. The bus driver, identified as Melvin Dasdasan of…

Filipino hitmaker Roel Cortez, the singer behind the hit songs “Napakasakit Kuya Eddie” and “Iniibig Kita” has died after battling colon cancer, his family has confirmed. Details about his death have not been disclosed as of this posting yet but sources said Cortez had been battling the cancer for years. Cortez was featured in the GMA Show “Kapuso Mo Jessica Soho”, where he was seen suffering from cancer and poverty. Cortez, born in 1967, rose to fame due to his songs and compositions in the early 80s. Among his notable songs are “Napakasakit Kuya Eddie”, which has become an anthem…

The world’s oldest person, Misao Okawa, died 10 days after she stopped eating, sources said. She was 117. Okawa, the world’s oldest person according to Guinness World Records, had eaten a lot of cake during her birthday last March 5 but the woman stopped eating in the last 10 days. No one exactly knew why Okawa stopped eating but Tomohiro Okada, an official at the nursing home, said she used to eat well and her favorite dish was ramen. “She went so peacefully, as if she had just fallen asleep,” Okada said. “We will miss her a lot.” “She was…

Japan’s business sentiment dips in first quarter, while China’s deposit insurance is set to be launched in May. The Philippines also gets a growth forecast upgrade from the International Monetary Fund. Here are some of the top business news in Asia today Japan’s Business Sentiment The Bank of Japan’s Tankan survey showed that sentiments among Japan’s big manufacturers held steady in the first quarter but is expected to worsen in the current quarter. Tankan survey is the leading measure of business sentiment in Japan. China’s Deposit Insurance In May China will introduce a scheme to insure bank deposits from May…

South Korea’s Ministry of Oceans and Fisheries said the South Korean government has decided to compensate the families of of the 250 students and 11 teachers who died or are still missing following the sinking of Sewol ferry last year. The move, however, was criticized by a group representing the family members of the ferry tragedy victims. The groups said the compensation announcement is an attempt by the government to divert attention away from their demand for a thorough and independent investigation. The families of the 11 teachers who died in the ferry disaster will each receive about 760 million…

KUALA LUMPUR – Malaysian opposition leader Anwar Ibrahim’s appeal to the King for him to be freed has been denied, which means the former deputy prime minister has lost his parliamentary seat, authorities said. Anwar’s petition for a royal pardon for his sodomy conviction was rejected, which means an automatic disqualification from the parliament, said Pandier Amimm Mulia, the parliament speaker. Anwar’s family appealed to the King for royal pardon after the court sentenced him to five years in prison last February. His conviction was upheld by Malaysia’s highest court. He has denied the charges but the highest court agreed…

FRESNO, California – A California man killed himself after shooting to death the mother of his five children inside a medical clinic in downtown Fresno Tuesday, the police said. Fresno police Lt. Joe Gomez identified the shooter as Neng Moua, 43, while the 33-year-old woman was not identified. The police said the woman was shot multiple times at close range. The exact nature of the current relationship of the two was not immediately established but the police said the woman was the mother of the shooter’s five children. She also had two other children. After shooting the woman, Moua pointed…

Supertyphoon Chedeng, international name Maysak, has maintained its strength as it heads towards the Philippines for the first major typhoon of the 2015 summer season. Weather forecasters warned the public that the supertyphoon, which packs 250 kilometer per hour winds and rains, could hit Luzon on Black Saturday, as most Filipinos are in their hometowns for the Holy Week holiday. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said the eye of the typhoon with international name “MAYSAK” was located based on all available data at 1,280 km east of Guiuan, Eastern Samar. It has maximum sustained winds of…

The Monetary Authority of Singapore (MAS) announced that a new web portal called compareFirst will be launched on 7 April, allowing Singaporeans to compare different insurance products online by insurance firms before purchasing one. The site allows consumers to compare premiums and features of products offered by different insurance companies. MAS said the website is a collaborative effort by the Consumers Association of Singapore, MAS, the Life Insurance Association, Singapore as well as MoneySense. While the website features the different products of insurance firms in Singapore, MAS advised consumers to still approach their financial advisers or life insurance firms should…

LAOAG CITY, Philippines – A magnitude 4.5 earthquake rocked the province of Ilocos Norte Wednesday noon, two days after an earthquake of almost similar magnitude hit the provinces of Bohol and Cebu in the Visayas. The Philippine Institute of Volcanology and Seismology (Phivolcs) said the epicenter of the earthquake was registered 22 kilometers off Pagupud town and had a depth of 11 kilometers. Phivolcs said the quake was tectonic in origin The earthquake, recorded at 12:04 on Wednesday, was also felt in the towns of Laoag, Pasuquin, Pagudpud, Burgos, Ilocos Norte and Claveria in Cagayan. Intensity 3 was recorded in…

BANGKOK – Thailand’s martial law, which was imposed since May 2014 to control violent street protests in the capital, may be lifted soon, but several groups have expressed concerns. Thailand Prime Minister Gen. Prayuth Chan-ocha said he has already sought the endorsement from Thai King Bhumibol Adulyadej for the lifting of the military rule 10 months after he staged a coup. Prayuth, the former army commander who led the May 22, 2014, coup that overthrew an elected government, told reporters Tuesday that he is seeking King Bhumibol Adulyadej’s approval to revoke martial law. The monarch’s approval is considered a formality.…