The Block M consortium remains committed to acquire “all remaining data” for its 3D seismic survey, which will be used for the exploration of oil and gas.
Brunei National Petroleum Company (PetroleumBRUNEI) manages and regulates Block M, which covers an area of 3,011 square kilometres onshore in Belait District and part of Tutong District.
Work is due .
BRUNEI-MUARA
UNIVERSITI Brunei Darussalam (UBD) marked an important legal milestone with the implementation of the long-awaited Intellectual Property (IP) Policy which will come with the setting up of its very own Innovation and Enterprise Office (IEO).
UBD Vice Chancellor Dr Hj Zulkarnain Hj Hanafi announced this at the launching ceremony of the IP Policy at the university’s .
BANDAR SERI BEGAWAN
SOME consumers have resorted to dangerous schemes in reaction to the tightening of rules on personal debt, making it necessary for the government to sort out the loose ends in its drive to curb indebtedness, professors of economics said yesterday.
Lim Kok Hsien, a lecturer of financial management Universiti Brunei Darussalam (UBD), recalled that .
BANDAR SERI BEGAWAN
THE modular housing concept is set to pave the way for a more cost-effective and efficient construction industry, said speakers at a seminar on “Modular Design and Construction for Housing Projects in Negara Brunei Darussalam” organised by the Ministry of Development.
Lokman Hamzah, acting chief operating officer of IBS Iconisis Sdn Bhd (a .
BELAIT
TWO oil wells have been discovered in Brunei’s Block M.
The discovery was made through seismic surveys conducted in Labi by the Block M Consortium. Drilling works are scheduled to begin by June this year.
The second phase of the surveys will be carried out this April to determine the existence of other oil wells.
This was revealed .
BANDAR SERI BEGAWAN
NATIONAL carrier Royal Brunei Airlines (RBA) and local attraction, The Empire Hotel and Country Club are both nominated for the 17th World Travel Awards, voted by travel agents worldwide.
The website stated that RBA is nominated for “Asia’s Leading Airline” while The Empire Hotel and Country Club is up for two awards, “Asia’s Leading .
BANDAR SERI BEGAWAN
BUSINESSMEN holding Bruneian permanent resident status who regularly visit Malaysia for work purposes should be able to travel between the two countries without the hassle of applying for visas.
This issue was brought up at yesterday’s Legistlative Council session by Pehin Kapitan Lela Diraja Dato Paduka Goh King Chin, a member of the Legislative .
BIBD has created a new financial strategy product specially designed to assist customers in achieving financial comfort, settle their outstanding credit card obligations and become debt free.
Dubbed as ‘BIBD Credit Card Programme’, it will serve as a consolidation facility over a pre-agreed term and will systematically reduce the customer’s existing credit card debt to zero.
The .
BIBD has created a new financial strategy product specially designed to assist customers in achieving financial comfort, settle their outstanding credit card obligations and become debt free.
Dubbed as ‘BIBD Credit Card Programme’, it will serve as a consolidation facility over a pre-agreed term and will systematically reduce the customer’s existing credit card debt to zero.
The .
Standard Chartered Bank yesterday launched a new investment, offering its customers alternative investment solutions in the form of bonds.
While SCB is the first bank in the country to introduce bonds as an investment product, it would not be the first to do so.
The Ministry of Finance has been issuing syariah-compliant Sukuk Al-Ijarah (a subset of .
Hong Kong and Brunei Darussalam are scheduled to sign the Comprehensive Agreement for the Avoidance of Double Taxation during the visit of Hong Kong’s Financial Secretary John C Tsang to the country on March 20. Tsang is scheduled to make a three-day stop in Brunei Darussalam to foster understanding and economic ties between Hong Kong .
BANDAR SERI BEGAWAN
FOR those looking to diversify their investment portfolio, a commercial bank is offering bonds as an “excellent alternative” with lower risks than equities. The first commercial bank in Brunei to do so, Standard Chartered Bank held a talk yesterday to introduce its new product to clients.
In his presentation, Roop Barua, global head of .
BUSINESS executives yesterday welcomed the news of the corporate tax cut slated for 2011. Some said they would soon plan how to utilise the extra capital expediture for the benefit of their businesses.
Second Minister of Finance, Pehin Orang Kaya Laila Setia Dato Seri Setia Hj Abdul Rahman Hj Ibrahim recently announced the reduction of the .
BANDAR SERI BEGAWAN
TRIPLE Star Enterprise has seen Bruneian through the progression of bicycles in the country since 50 years ago when bicycles were a simple mode of transportation. And now the third generation carries on the torch.
Lee Min Hwa, manager of the bicycle department, said that Brunei’s history with enthusiasm for biking reached a high .
BANDAR SERI BEGAWAN
BANK Islam Brunei Darussalam (BIBD) is luring payroll accounts with a personal finance solution in which it will buy customer’s credit card debts with other banks and help them manage their finances at a lower cost.
The Islamic bank has launched a plan dubbed the Credit Card Care Programme or 3CP that is designed .
BANDAR SERI BEGAWAN
BRUNEI’S total credit card roll-over balance in the third quarter stood at $343.6 million, Second Minister of Finance Pehin Orang Kaya Laila Setia Dato Seri Setia Hj Abdul Rahman Hj Ibrahim saidyesterday.
That’s a 100 per cent rise from the $172.8 million recorded in 2005, the minister told members of the State Legislative Council .
Commuter airline MASwings, which currently only serves the travel needs of Sabah and Sarawak, is banking on expanding its services to the BIMP EAGA region by October this year, said its managing director Salleh Tabrani.
The move, it is hoped, will create a growth driver for the Malaysia Airline’s wholly owned and loss-making subsidiary. Some 75 .
Half of fund managers polled in HSBC’s quarterly Fund Managers Survey are holding a positive view on equities in the first quarter of 2010, up from 33 per cent in the fourth quarter of 2009, according to a press release.
The majority of respondents (75 per cent) are bullish on Greater China equities in the first .
From now until April 30, Standard Chartered Bank is offering amazing interest rates of up to eight per cent for Brunei dollar fixed deposits in a first-in-market promotion that bundles a selection of Unit Trusts with Brunei Dollar Fixed Deposit accounts.
The promotion offers the best of both worlds for basic investment. Customers can choose from .
The Brunei Economic Development Board (BEDB) is looking to promote Brunei as an investment destination in the areas of alternative energy, aquaculture, eco tourism, halal products and food manufacturing.
Speaking to the Bulletin, BEBD Acting Chairman Dato Paduka Timothy Ong said that they would like to send a message that “Brunei is open for business and .
BANDAR SERI BEGAWAN
INDONESIA wants to boost energy and halal ties with Brunei, a visiting official yesterday said, citing Brunei’s expertise in the two fields.
Dr Anggito Abimanyu, deputy to Indonesia’s Minister of Finance and acting head of the Fiscal Policy Office, said his government is particularly interested in developing ties with Brunei with regards to .
BANDAR SERI BEGAWAN
AS THE Islamic finance market grows, debates remain on some of the Islamic financial structures which some scholars spurn for being too close for comfort to conventional finance products. The Brunei Times speaks with Sri Anne Masri, a local Islamic business consultant, about one of these controversial products, tawarruq, which is a subject .
BANDAR SERI BEGAWAN
THERE needs to be tighter regulations and standards against prudential risks of financial institutions, a Ministry of Finance official yesterday said.
In opening a workshop on capital adequacy, transparency and market discipline among finance players, Sigar Labau, assistant director of the ministry’s Financial Institutions Division, said capital adequacy, transparency and market discipline are some .
BANDAR SERI BEGAWAN
BRUNEI has been voted onto the board of trustees of the Asian Directory Publishers Association Inc (Adpai), which groups independent yellow pages directory publishers throughout the world, on the back of impressive advertising.
The board of trustees is the governing body of Adpai, giving Brunei a bigger role in decision-making. Brunei has been .
The transition period for the new directive on credit cards may have a great impact on local businesses. However, once the dust settles, the economy will recover.
This was said by Maybank General Manager and Head of Brunei Operations Awang Asmuni bin Sudin in an interview during the Chinese New Year open house yesterday.
In June, credit .
A soft opening was held yesterday for the Barely There Boutique in Tanjung Bunut, which specialises in lingerie, ladies night wear as well as facial products such as masks.
Located at B7, Block B, Tanjung Bunut Place, Jalan Tutong, the boutique also makes available dresses, Victoria’s Secret shoes, handbags and a number of accessories such as .
BANDAR SERI BEGAWAN
TRAVEL agencies are wooing Bruneians to Shanghai by offering special travel packages, highlighting this year’s World Expo as the main attraction since Brunei will be one of the exhibitors.
The World Expo, one of the biggest expositions, is scheduled to begin on May 1 and is expected to attract 70 million visitors.
In a phone .
BANDAR SERI BEGAWAN
FACED with a small and limited market, advertising and media company Media Biz did what Brunei has done it diversified.
“We’re proactive in making this business work. We won’t just sit back on things,” says Biju Jo, Media Biz manager of the firm’s attempts to overcome challenges over the years.
Proud of its .
BANDAR SERI BEGAWAN
JAPAN is interested in re-establishing direct flights to and from Brunei, but acknowledges that there must be a solid increase in the demand for such flights, an envoy said.
Akira Sato, Counsellor at the Embassy of Japan to Brunei, said the matter was discussed during a previous bilateral meeting between Japanese Prime Minister .
The aquaculture industry in Brunei Darussalam could generate an estimated US$70 million in revenue from a yield of 2,000 tonnes of high-value fish species in the next five years, making the country one of the world’s main hubs for aquaculture production.
This was stated by Mr Johnson Chang, the Chairman of Taiwan-based Hi-Q Marine Biotech International .
