Author: Business News Asia

FRESNO – At least 11 people were hurt, three of them in critical condition, due to a gas pipeline explosion near Fresno that also triggered the closure of a part of Highway 99 Friday afternoon. The explosion, recorded at about 2:30 pm, was triggered after a front-end loader hit a pipe that transports natural gas, said Tony Botti, spokesman of the Fresno County Sheriff’s office. A large fireball leapt into the sky, according to Pete Martinez from the Fresno Fire Department. The blaze was a two-alarm call for firefighters. To douse the fireball, PG&E workers shut the gas line. The…

MISAMIS ORIENTAL, PHILIPPINES – At least 38 people belonging to eight families were rushed to the hospital after they were reportedly poisoned by the food they took home from a fiesta celebration in Gingoog, Misamis Oriental. The victims attended a fiesta celebration in Barangay Kalahitan, Butuan City and brought home some some meat that were served in the celebration, a Misamis Oriental official said. The food were different types of viands from pork and beef and authorities believed the meat were already spoiled. The eight families shared the food to take home to their respective homes but were instead poisoned…

BAGHDAD, IRAQ – An Iraqi state-run television has reported the death of Izzat Ibrahim al-Douri, Saddam Hussein’s deputy and former top adviser, in an Iraqi security operation. Initial report said al-Douri was killed in a security operation after years of evading capture after the fall of Hussein’s regime in 2003. He was a former Iraqi general and a commander of the Army of the Men of the Naqshbandi Order. He was an Iraqi military commander and was Vice Chairman of the Iraqi Revolutionary Command Council, until the 2003 U.S.-led invasion of Iraq. Al-Douri continued to lead elements of the Iraqi…

HONG KONG – American softdrink giant Coca-Cola has reportedly agreed to acquire the beverage business of China Culiangwang Beverages Holdings Ltd for about USD400 million, marking Coke’s first acquisition in China since 2010. The USD400-million acquisition includes debts and China Culiangwang, in a statement to the Hong Kong stock exchange, said the company will continue to develop its consumer products business. China Culiangwang manufactures red bean and green drinks and owns and sells “Cu Liang Wang” branded beverages and food products. Meanwhile, China Culiangwang announced plans to raise raise up to HKD1.06 billion (USD137 million) in a rights issue as…

LONDON – A.M. Best has affirmed the financial strength rating of B++ (Good) and the issuer credit rating of “bbb” of First Insurance Company (FIC) (Jordan) following its acquisition of a controlling stake in Yarmouk Insurance Company (Yarmouk) (Jordan). The outlook for both ratings remains stable. On 2 April 2015, FIC acquired a controlling stake (76%) in Yarmouk Insurance Company (Yarmouk) in Jordan. The transaction, which was completed on the Amman Stock Exchange and estimated at USD 15 million, is one of the largest in the region in recent times. The acquisition will broaden FIC’s business profile and provide the…

MALAYSIA – The Malaysian Automotive Association (MAA) announced that a total of 67,314 vehicles were sold in the country in March of this year, rising 33.6 percent from the total sales recorded in February. The rise in vehicles sales last month was attributed to the implementation of the Goods and Services tax (GST) on April 1, which promoted car companies to clear stocks prior to the implementation of the GST. Out of the 67,314 vehicles sold in March, 59,318 were passenger vehicles while the rest, or 7,996 units, were commercial vehicles, the MAA said. Vehicle sales in March brought the…

MANILA, PHILIPPINES – The family of the milk tea shop owner who was among the two people killed in an apparent poisoning claimed someone tried to sabotage the family business. In a news conference, the wife of William Abrigo, owner of Ergo Cha milk tea shop, suspected that someone was trying to sabotage the family’s business by putting poison into the ingredients of the milk tea drink. Abrigo and a customer, Suzaine Dagohoy, died after taking a sip out of what authorities said was contaminated milk tea that Abrigo prepared. Dagohoy’s boyfriend Arnold Aydalla also took a sip but spitted…

MALAYSIA – New Zealand is set to introduce food products to Malaysian restaurants and hotels as part of the island nation’s efforts to expand its food service industry into Malaysia, authorities said. New Zealand Trade Commissioner to Malaysia and Brunei Matt Richie said a business delegation from New Zealand will visit Malaysia this year to explore business opportunities. Richie said expanding the food service industry into Malaysia is crucial for New Zealand because the island country’s exports of goods and services take up 30 percent of gross domestic product. About 75 percent of New Zealand’s exports fall under the food…

MALAYSIA – At least 20 more Ugandan women sex slaves are hiding in Kuala Lumpur to avoid being arrested by authorities or being hunted by their recruiters, sources said. The report about more Ugandan sex slave women in Kuala Lumpur was revealed following the rescue of three Ugandan sex slaves in Malaysia’s capital. Sources added that there are even Ugandan women sex slaves in Malaysian prisons for various offenses. The Ugandan women in Malaysia were among the group of women that were trafficked from Uganda to different countries and were promised employment. The Ugandan women, however, ended up as sex…

MALAYSIA – The search area for the missing Malaysia Airlines flight MH370 will be widened to 120,000 kilometers in the southern Indian Ocean if the plane remains missing by May, authorities said. Malaysia, Australia and China, which head the multi-national efforts to locate the ill-fated Boeing 777, have decided to continue with the search and extend the area by an additional 60,000 square kilometres. Sources said the search for the missing Malaysian Airlines flight MH370 could take another year as Malaysia and China vowed to continue search for the plane. During a conference attended by Malaysian Transport Minister Liow Tiong…

DUBLIN, IRELAND – Luxembourg-based Ardagh Group, a glass and metal packaging solutions giant, is reportedly finalizing a deal to acquire Saint Gobain’s Verallia glass packaging unit for about EUR3 billion (USD3.2 billion). The Irish Independent reported that Ardagh, which operates 89 facilities in 21 countries, is nearing the close of its biggest ever acquisition. Saint Gobain, a French multinational corporation, has placed its Verallia glass packaging unit up for sale for months, getting the attention of Ardagh and other global private equity giants. In January 2013, Ardagh Group agreed to acquire Saint Gobain’s Verallia North America for €1.275 billion. Ardagh…

Vancouver – The two pilots who died after their cargo plane crashed in the North Shore Mountains of Vancouver were identified as Robert Brandt, 34, and co-pilot Kevin Wang, 32. The identities of the pilot and the co-pilot of the twin-engine Swearingen SA 226 airplane that crashed Monday were released by the British Colombia Coroners Service. Brandt and Wang were both residents of the Vancouver area, authorities said. Brandt and Wang, whose bodies were found Tuesday afternoon, were the only persons onboard the plane, which was carrying paper products from Vancouver to Prince George. The aircraft reportedly suddenly plummeted into…

HOUSTON – A 41-year-old barber and father of three died following a police chase that ended in shooting outside an elementary school, authorities said. What started as suspected traffic violation turned tragic for Frank “Trey” Shephard, who was fatally shot by police officers in northeast Harris County. According to a Harris County Sheriff’s Office spokesman, the chase began about 10:40 a.m. in the Crosstimbers area of US-59. Houston Police tried to pull over the driver of a blue Chrysler 300 due to “suspicious activity,” including two unsafe lane changes. As they approached the car, the driver fled. A chase ensued…

MANILA, PHILIPPINES – A report released by the National Bureau of Investigation (NBI) and the National Posecution Service (NPS) revealed that at least 90 people had been recommended to be charged for their roles in the bloody clash in Mamasapano, Maguindanao, which resulted to the death of 44 elite policemen. Those who had been recommended to be criminally charged are members of the Moro Islamic Liberation Front, Bangsamoro Islamic Freedom Fighters, and private armed groups, a report by gmanetwork.com said. Justice Secretary Leila De Lima presented a copy of the 224-page NBI report on the Mamasapano clash on Thursday. The…

CEBU CITY, PHILIPPINES – At least 71 families living close to the Inayawan Sanitary Landfill were immediately evacuated on Thursday after Cebu City Mayor Michael Rama said the lives of those in the area at risk. Personnel from the Cebu City Hall aided the families in the immediate evacuation after authorities found a huge crack in the mountain of garbage inside the landfill, which could trigger a landslide. Rama he had directed the Department of Public Services and the Cebu City Disaster Risk Reduction and Management Council (CCRRMC) to enforce the evacuation within 24 hours and get all those people…

MANILA, PHILIPPINES – The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), issued an advisory to the public to inform them of the appropriate action to take if unsolicited text messages about bank advertisement, loan offer or marketing are received. Earlier, the BSP issued a Memorandum to all banks and its subsidiaries and affiliates, reminding them of their compliance with the law/rules that prohibit unsolicited text messages. The Cybercrime Prevention Act or R.A. No. 10175 criminalizes the transmission of commercial electronic communication with the use of computer system which seeks to advertise, sell or offer for sale products…

MANILA, PHILIPPINES – The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, said personal remittances from overseas Filipinos (OFs) amounted to US$2.1 billion in February 2015, an increase of 4.0 percent compared to the same period in 2014. As a result, remittance inflows for the first two months of the year reached US$4.1 billion, posting a year-on-year growth of 2.1 percent, BSP Officer-in-Charge Nestor A. Espenilla, Jr. said. For the period January-February 2015, personal remittances from land-based workers with work contracts of one year or more, and migrants’ transfers totaled US$3.1 billion. Meanwhile those from sea-based and…

MANILA, PHILIPPINES – Thousands of taxpayers in the Philippines trooped to the different offices of the Bureau of Internal Revenue (BIR) to beat the deadline of the filing of income tax returns (ITR). Taxpayers lined up outside BIR district offices around the country as early as 5 a.m. to ensure that they beat the deadline of the filing of ITR and avoide penalties. While taxpayers in Manila complaint of slow processing of their ITR filing, some BIR district offices in Visayas had different approach to address the influx of taxpayers. In Tacloban City, the BIR district office offered free food,…

NEW YORK – Low-cost Chinese telecoms equipment firm are now eating up on the market share of other global manufactures. But Nokia just won’t vow to the pressure. Finnish multinational communications and information technology firm Nokia announced that it is set to acquire Alcatel-Lucent, a French global telcommunications equipment company. Experts believe Nokia’s takeover of Alcatel-Lucent is part of its effort to challenge Ericsson and become the world’s leading telecoms equipment firm. The move is also considered as Nokia’s way of bolstering its market share as Chinese firms, such as Huawei and ZTE, challenge the sector on cost. The deal…

MAKATI, PHILIPPINES – Makati City Mayor Junjun Binay can now heave a sigh of relief after Vice Mayor Romulo Peña agreed to step down as the city’s acting mayor. Tensions are now expected to ease at the Makati City Hall and government service will be back to normal following Peña’s decision to heed the order of the Department of Interior and Local Government (DILG) to relinquish his position as acting mayor. Peña said his decision to step down was based on the orders from the DILG. He earlier asked the DILG to clarify his status after Binay was able to…