RSS Breaking News - Asia

Indian economy secretary: no "lull" in central bank's bond purchases

Fri, 24 May 2013 23:53:00 GMT

May 24, 2013 11:53 PM

[MUMBAI] The Indian government doesn't think the central bank has slowed the pace of its bond purchase programme, economic affairs secretary Arvind Mayaram said on Friday.

China solar companies shun home market in pursuit of margins

Fri, 24 May 2013 22:39:00 GMT

May 24, 2013 10:39 PM

Chinese solar panel makers are shunning their overcrowded home market in favour of lucrative exports, a switch that has helped to arrest a two-year slump in margins and push shares to 12-month peaks.

Three mainland Chinese charged in HK mercantile exchange probe

Fri, 24 May 2013 19:37:00 GMT

May 24, 2013 7:37 PM

[HONG KONG] Three men were charged on Friday in a Hong Kong court with possessing false documents including a cheque for US$460 million in connection with an investigation into the city's shuttered Hong Kong Mercantile Exchange.

Japan life insurers may keep money at home as bond yields rise

Fri, 24 May 2013 19:07:00 GMT

May 24, 2013 7:07 PM

[TOKYO] Japanese life insurers are giving signs that they may not send much more of their US$3 trillion in assets abroad this year, as Japanese government bond yields start picking up, despite hinting last month that they might boost their foreign bond holdings to seek higher returns.

Mando China delays up to US$270m HK IPO on adverse markets

Fri, 24 May 2013 17:59:00 GMT

May 24, 2013 5:59 PM

[HONG KONG] Mando China Holdings Ltd, controlled by South Korean auto parts maker Mando Corp, said on Friday it decided to postpone an initial public offering in Hong Kong because of "adverse market conditions" and "significant market volatility."

China vows to liberalise interest rates, push yuan reforms

Fri, 24 May 2013 17:14:00 GMT

May 24, 2013 5:14 PM

[BEIJING] China will continue to liberalise interest rates, make the yuan currency more responsive to market forces and more convertible this year, the government said on Friday.

Rosy China growth forecasts fade on further signs of slowdown

Fri, 24 May 2013 17:08:00 GMT

May 24, 2013 5:08 PM

[BEIJING] As evidence mounts that China's economy is losing momentum, economists are fast abandoning their rosy recovery forecasts and bracing for what could be the country's slowest growth rate in 23 years.

Taiwan cuts 2013 GDP growth f'cast, revises up Q1 pace

Fri, 24 May 2013 16:48:00 GMT

May 24, 2013 4:48 PM

[TAIPEI] Taiwan lowered its 2013 economic growth outlook to 2.4 per cent from a preliminary forecast of 3.59 per cent, the statistics agency said on Friday.

India cbank plans to ease hedging norms for exporters, importers

Fri, 24 May 2013 16:28:00 GMT

May 24, 2013 4:28 PM

[MUMBAI] The Reserve Bank of India plans to allow exporters and importers to rebook and cancel up to 50 per cent of their total hedged exposure from the present cap of 25 per cent, Executive Director G. Padmanabhan said a in speech in Singapore on Friday.

China urbanisation plan hits roadblock over spending fears: sources

Thu, 23 May 2013 17:22:00 GMT

May 23, 2013 5:22 PM

[BEIJING] China's plan to spend US$6.5 trillion on urbanisation to bolster the economy is running into snags, sources close to the government said, as top leaders fear another spending binge could push up local debt levels and inflate a property bubble.

Japan PM heads to Myanmar on sales mission

Thu, 23 May 2013 16:16:00 GMT

May 23, 2013 4:16 PM

[TOKYO] Prime Minister Shinzo Abe flies to Myanmar Friday bearing almost US$1 billion in development aid and a plan for a nationwide electricity grid as Japan tries to grab the box seats in the country's quickening development.

India to pay state-run fuel retailers US$8.1b in Q4 oil subsidy

Thu, 23 May 2013 16:09:00 GMT

May 23, 2013 4:09 PM

[MUMBAI] India has agreed to pay 450 billion rupees (US$8.1 billion) for the March quarter to state-owned fuel retailers as compensation for selling products at cheaper government-set rates, officials at these companies said on Thursday.

India will be comfortable with stable rupee exchange rate: PM adviser

Thu, 23 May 2013 15:33:00 GMT

May 23, 2013 3:33 PM

[NEW DELHI] The Indian government will be comfortable with a stable rupee exchange rate and there was no reason for the currency to be unstable, C. Rangarajan, chief economic adviser to Prime Minister Manmohan Singh, said on Thursday.

Malaysia Maybank's Q1 net profit up 11.8 pct, above forecast

Thu, 23 May 2013 13:29:00 GMT

May 23, 2013 1:29 PM

[KUALA LUMPUR] Malayan Banking Bhd (Maybank), Malaysia's biggest bank by assets, posted a 11.8 per cent rise in first quarter profit, helped by higher net interest income and strong Islamic banking performance.

As yen tumbles, Japan's gain isn't South Korea's pain

Thu, 23 May 2013 13:03:00 GMT

May 23, 2013 1:03 PM

[JAPAN-KOREA] South Korea's economic problems aren't made in Japan.

S Korea top think tank cuts growth, inflation forecasts

Thu, 23 May 2013 11:43:00 GMT

May 23, 2013 11:43 AM

[SEOUL] South Korea's top government think tank recommended on Thursday the central bank keep monetary policy easy for the time being as the economy will likely grow much less than seen previously and inflation will hit a 14-year low.

S Korea Q1 household credit growth slumps to 8-yr low

Thu, 23 May 2013 11:42:00 GMT

May 23, 2013 11:42 AM

[SEOUL] South Korea's annual household credit growth eased to the slowest rate in more than eight years over the first quarter, data showed on Thursday, underscoring a deepening slump in consumer spending.

Japan's SoftBank to give US govt Sprint board choice: WSJ

Thu, 23 May 2013 11:29:00 GMT

May 23, 2013 11:29 AM

[NEW YORK] Japan's SoftBank is preparing to hand the US government an unusual degree of influence over operation of Sprint Nextel, after security concerns raised by the proposed cross-border takeover, The Wall Street Journal reports online.

China eases forex rules in special economic zones

Thu, 23 May 2013 10:54:00 GMT

May 23, 2013 10:54 AM

[SHANGHAI] China's foreign exchange regulator said on Wednesday that it will simplify regulation of foreign currency transactions for companies operating in China's special economic zones, as Beijing moves to liberalise the yuan.

China May HSBC flash PMI slips to 7-month low on weak demand

Thu, 23 May 2013 10:08:00 GMT

May 23, 2013 10:08 AM

[BEIJING] China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary survey of purchasing managers showed, adding to concerns that a recovery in the world's second-largest economy is sputtering.

S Korea April department store sales fall vs year ago

Thu, 23 May 2013 07:00:00 GMT

May 23, 2013 7:00 AM

[SEOUL] Sales at South Korea's top department store and discount store chains both fell in April from a year earlier for the first time in three months, underscoring shaky consumer confidence.

China milk powder firms court foreign cachet for domestic gains

Thu, 23 May 2013 06:59:00 GMT

May 23, 2013 6:59 AM

[SHANGHAI] The rolling green hills and gurgling blonde toddlers in the ads for Yashili International Holdings Ltd underscore how keen China's biggest milk powder producers are to appear global to emerge from the shadow of a fatal baby formula scandal.

China to lend US$580m for Sri Lanka development projects

Thu, 23 May 2013 06:32:00 GMT

May 23, 2013 6:32 AM

[COLOMBO] China Development Bank Corporation will lend US$580 million to Sri Lanka to help implement key infrastructure projects, a government document released on Wednesday showed.

India set to resume oilmeal exports to China: trade body

Wed, 22 May 2013 23:01:00 GMT

May 22, 2013 11:01 PM

[NEW DELHI] India is on course to resume oilmeal exports to China, after Beijing agreed in principle to lift a ban that it imposed last year citing traces of a hazardous chemical, an industry body chief said on Wednesday.

Fallout spreads in Hong Kong over shut-down Mercantile Exchange

Wed, 22 May 2013 22:32:00 GMT

May 22, 2013 10:32 PM

[HONG KONG] A close political ally of Hong Kong's chief executive has vowed to cooperate with an investigation into the shuttered Hong Kong Mercantile Exchange after the city's financial watchdog said it had alerted the police to "serious irregularities".