Foreign business news in brief

TOKYO: Business sentiment in Japan in the January-March quarter rose to its highest in 15 years, a government survey showed yesterday, further confirmation that an economic recovery remains on track. 

The Cabinet Office's Economic and Social Research Institute (ESRI) said its business survey index (BSI) for January-March rose to plus 29 from plus 18 in the previous quarter, helped by a surge in optimism among machinery and parts makers, financial services firms and retailers. 

The figure was the highest since the January-March quarter of 1989, the peak of Japan's bubble economy. – Reuters

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BEIJING: China Minsheng Banking Corp Ltd, the country's only private commercial bank, said its first quarter net profit rose 61.6% to 459.85 million yuan on the back a near doubling in interest income.  

The bank, which has A-shares listed in Shanghai and is planning to list in Hong Kong this year, said interest income surged 94.87 pct year-on-year to 2.84 billion yuan in the first quarter. 

The bank gave no forecast for the rest of this year, but said the central bank's decision to raise the reserve deposit requirement ratio to 7.5% from 7%effective April 25 will have little impact on its full-year profit. – AFX-Asia

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BANGKOK: Thai customs cleared exports hit their highest level ever, rising an estimated 20% to US$7.96bil in March from the same month last year, officials said yesterday, largely on surging demand for electronics. 

Imports also jumped, rising an estimated 35% to US$8.22bil, a customs official said. 

Specific data was not immediately available, but a trade official said imports of electronics goods for re-export as well as strong demand for agriculture-related goods were behind the rises. – Reuters

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SEOUL: South Korea’s Samsung Heavy Industries Co, the world’s third-largest ship builder, said yesterday it was trying to seal a US$620mil order to build liquefied natural gas ships for Britain’s BG Group Plc.  

“The deal is in progress but has not been finalised yet,” Yoon Jong-deok, a spokesman for Samsung Heavy, said. – Reuters

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The Cabinet Office's Economic and Social Research Institute (ESRI) said its business survey index (BSI) for January-March rose to plus 29 from plus 18 in the previous quarter, helped by a surge in optimism among machinery and parts makers, financial services firms and retailers.