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Hong Leong Asia sells metal container business for S$54.2m

Hong Leong Asia sells metal container business for S$54.2m Hong Leong Asia is selling off its metal container business in China for S$54.2 million. The sum includes the disposal of its equity interests in Rex Metal Packaging in Malaysia and Qingdao Rex Packaging. Hong Leong Asia expects a gain of S$5.5 million from the divestment. It says the sale represents an opportunity to exit from the business and focus its resources on other opportunities which have better growth prospects. It plans to use the proceeds to fund the expansion plans of its green-pallet business in GPac Technology. More: channelnewsasia.com

Lufthansa December Traffic Gains 3.4%, Led by Growth to Asia

Lufthansa December Traffic Gains 3.4%, Led by Growth to Asia Deutsche Lufthansa AG, Europe's second-largest airline, said traffic rose 3.4 percent last month, led by growth in travel to Asia and within Europe. Lufthansa filled 71.2 percent of available seating, a 0.6 percentage-point gain from a year earlier, after adding 2.6 percent more capacity. The carrier flew 3.71 million passengers in December, up 3.6 percent from the same month in 2004, the Cologne, Germany-based airline said in a statement today. European airlines are handling rising demand for business travel and are focusing on long-haul flights to sustain traffic growth as

Container lines to raise prices on Asia-U.S. route

Container lines to raise prices on Asia-U.S. route Shipping lines serving the busy route from Asia to North America will further increase the price of container shipments to the U.S. East Coast in the upcoming peak season to cover higher costs. The Transatlantic Stabilization Agreement carrier group said in a statement that its member lines would raise a planned peak season surcharge of $400 per 40-foot container from Asia to the U.S. East Coast and U.S. Gulf Coast to $500 effective July 15 and to $600 from Aug. 15 until Nov. 15. The increased charge will apply to all containers moved through the

Asia surges on profits

Asia surges on profits Asian stocks surged on Thursday as leading technology companies such as Advantest Corp. posted sturdy quarterly profits, while the dollar extended losses on signs that the U.S. economy was cooling down. The yen slumped to a record low against the euro on the view that yen interest rates will stay unattractive to investors when compared with dollar or euro rates for many more months. The dollars overnight decline lifted gold prices by about $6 an ounce to $628, as the dollar-denominated metal became cheaper for Asian and European buyers. More : edition.cnn.com

Asia-Pacific air travel off to solid start this year

Asia-Pacific air travel off to solid start this year Air travel in the Asia-Pacific region is off to a solid start this year, with passenger traffic growing 4.9 percent in the first two months despite high oil prices, an industry group said Friday. The Kuala Lumpur-based Association of Asia Pacific Airlines said its 17 member airlines flew a total 21.246 million passengers in January and February, up from 20,262 million in the same period in 2004. In January, passenger traffic surged 6.4 from a year ago to 11.08 million but growth eased in February to 4.9 percent on-year to 10.166 million.