Latest Asia Business News
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Rupee up against dollar
Karachi The rupee posted gains against the dollar in the foreign exchange market on Thursday despite foreign exchange outflows, dealers said. In the interbank market, the rupee closed at 98.47 against the dollar, increased by five paisas as compared to Wednesday's closing of 98.52. Dealers said that the forex market has been witnessing a fluctuating trend for the last few weeks with the ...
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Gold rebounds from losses
Gold climbed off session lows on Thursday after weak Chinese factory activity jolted stock markets in Asia, sending investors back to the precious metal despite expectations the US Federal Reserve will scale back its monetary stimulus. The Nikkei dropped 7.3 percent, its biggest one-day percentage fall in two years, after a preliminary survey showed China's factory activity contracting, ...
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Oil drops below $102
Oil fell below $102 a barrel on Thursday in a broader commodities selloff as a decline in China's factory activity entrenched concern about weak demand and on worries about an early scale-back in Federal Reserve stimulus. China's factory activity shrank for the first time in seven months in May, a survey showed. The dollar index hit a three-year high on Wednesday, weighing on ...
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Hang Seng opens slightly higher
(57 mins ago) Stocks in Hong Kong opened 0.35 percent higher, recouping some of their losses from the previous session, which saw steep falls in line with a regional sell-off. The benchmark Hang Seng Index gained 79.6 points to 22,749.28 in the first minutes of ...
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Garuda Indonesia Introduces Complimentary Chauffeur Service
Garuda Indonesia, the airline of Indonesia, is proud to introduce a complimentary limousine service for Executive Class passengers in celebration of the airline’s Brisbane relaunch in August. Executive Class passengers departing from Brisbane will experience a seamless door-to-door journey, enjoying a drop off service to Brisbane airport and a pick-up service from Brisbane airport upon ...
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Air New Zealand offers improved check-in with new Melbourne kiosk service
Air New Zealand customers travelling trans-Tasman and Pacific Island routes have flocked to use the new check-in kiosks introduced this week at Melbourne ...
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Japan stocks rebound after slump Nikkei up 3.2
+2.78% climbing 3.2% after diving 7.3% in the previous session, prompted by some relief buying amid expectations that the rally that began late last year may have further to go. The broader ...
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Japans Nikkei recovers some of Thursdays 7.3 percent plunge
* Nikkei rises 2.4 pct, Topix up 2.1 pct * Nikkei still on track for longest monthly winning run since 1972 By Dominic Lau TOKYO, May 24 (Reuters) - Japan's Nikkei share average regained ground on Friday after a 7.3-percent dive in the previous session, its biggest one-day percentage drop in two years after weak Chinese factory data spooked investors. The Nikkei climbed 2.4 percent to ...
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Sensex tanks 388 pts on global slide
MUMBAI: A crash in the Japanese stock market on the back of US Fed chief's statement that he needed more confirmation about the strength of the US economy before he could slowdown his $85-billion-amonth bond buying programme spooked global markets on Thursday, including India. The global sell-off , combined with weak manufacturing data coming out of China, pulled the sensex down by 388 ...
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Phaneesh Murthy may have to pay huge damages
BANGALORE: iGate's ousted CEO Phaneesh Murthy, who has been charged with sexually harassing the company's 31-year-old investor relations head Araceli Roiz, may end up paying huge damages if charges pressed by her are proven under US law. In India, proven sexual offences are liable for criminal punishment and not necessarily a monetary payout. But in the US, the focus is on monetary ...
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Market eyeing Nikkei for signals risk-sentiment recovered in overnight trade
There was a massive 8% intraday reversal yesterday in the Nikkei and this led to a huge clean-out in risk trades like AUD/JPY in particular. The question which will be answered today in the Tokyo stock-market is whether the Nikkei selling was purely technical or whether a reversal is underway. I'd expect the FX market to get most of its leads from the Nikkei. Today's risk events ...
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GLOBAL MARKETS-Asian stocks steadier Nikkei bounces back
Thu May 23, 2013 8:29pm EDT * Nikkei up 3 pct in early trade, following 7.3 pct fall * Asian stocks outside Japan steadier after drop * Yen softer, reversing Thursday's gains * MSCI ex-Japan edges up By Ian Chua SYDNEY, May 24 (Reuters) - Asian shares opened cautiously higher on Friday with Tokyo's Nikkei steadying from its biggest one-day drop in two years as investors breathed a sigh ...
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Nikkei regains ground after Thursdays 7.3 pct slide
TOKYO, May 24 (Reuters) - Japan's Nikkei share average regained ground on Friday after a 7.3-percent dive in the previous session, its biggest one-day percentage drop in two years after weak Chinese factory data spooked investors. The Nikkei climbed 2.4 percent to 14,827.50, while the broader Topix index rose 2 percent to ...
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Qantas enlists authors to write books that match flight times
Calling the airplane the final bastion for the old-fashioned paperback novel, Aussie airline Qantas is launching a series of specially written books that can be read from start to finish within the duration of the flight. Aimed at appealing to the carrier's frequent flyers -- most often business travelers -- the strategy is meant to strengthen the brand's image as a ...
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$20m upgrade for Qantas jets
Qantas has finished a $20 million makeover of 15 of its 265-seat Boeing 767 jets, which are used on routes such as Perth to Brisbane and weekend flights to Melbourne and Sydney.The makeover includes leather seats in business, in-flight entertainment for all passengers, new carpets and lighting. Qantas domestic chief executive Lyell Strambi said it was done to provide the best travel ...
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Ford still has a long way to go to match Toyota’s brand value
Joe Hinrichs, the former Ford of Canada president who now oversees all of Ford's operations in both North and South America, says he and everyone at Ford have a laser-like focus on quality. Good thing on a bunch of fronts, especially when it comes to brand-building.Ford Motor has suffered a recent series of embarrassing recalls, and the delayed arrival of the new Lincoln MKZ - to fix ...
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Nissan says to recall 841000 cars over steering problem
The recall will cover the Micra, known as the March in some markets, and Cube models produced in Japan and Britain between 2002 and 2006, a company spokeswoman said. Nissan sold the cars -- 763,000 units of Micra and 78,000 of Cube -- in Africa, Asia, Europe, Latin America and the Middle East, but has not received any accident reports related to the glitch, the spokeswoman said. "A bolt in ...
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World markets roiled by Nikkeis 7.3-percent dip
LONDON/HONG KONG--Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ...
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NHRA star Brown to test Toyota stock car
CONCORD, N.C. -- NHRA star Antron Brown wants to give left turns a shot. The 2012 Top Fuel champion will test a Toyota stock car for Rev Racing, an academy style developmental organization for NASCAR's diversity program, on Tuesday at Motor Mile Speedway in Radford, Va. Brown and Rev Racing owner Max Siegel insists this is not a gimmick, that they are serious about finding out if the ...
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Japan’s Nikkei Index Falls 7.3 for Several Reasons Europe and U.S. Indexes Dip after Japanese Nosedive JPMorgan Voters Keep CEO Dimon
YahooFinance ) The Japanese stock market’s single-largest, one-day loss since the 2011 tsunami featured a 7.3 percent plunge yesterday that was blamed on lower-than-expected Chinese manufacturing figures for April, the Federal Reserve's lack of a clear message on continuing quantitative easing and spiking Japanese bond prices.Elsewhere in the Far East, markets generally pulled back. ...
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Nikkei’s nosedive Blame it on optimism
Japan's growth spurt shows early benefits of Abe's policy gamble The last time Japan's benchmark index fell this sharply was in 2011, when Japan was hit by a devastating earthquake and tsunami, which sent the Nikkei tumbling 10.6 per cent. Before that, you have to go back all the way to 1987, when it fell 14.9 per cent.Thursday's decline follows numerous signs of rising ...
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The Warning Signs Ahead of Nikkei Selloff
A perfect storm of yen strength, a spike in Japanese government bond yields and new evidence of weakness in China's economy sparked a major sell-off in Japan's equity markets on ...
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FDA alert affects $100m potential sales Wockhardt
US Food and Drug Administration "import alert" on one of its plants, but said it should be able to restore most of that within 6 to 9 months by shifting production elsewhere. "That is a worst-case scenario," Wockhardt chairman Habil Khorakiwala said, referring to the $100 million, in a conference call with reporters. Wockhardt shares fell 20 per cent on Thursday to their ...
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No ones particularly sure why the Nikkei dropped 7 overnight
Well that was fast. Japanese financial markets have experienced a stunning rise over the past six months, as a new government led by Prime Minister Shinzo Abe introduced policies of aggressive Keynesian stimulus paired with equally aggressive monetary easing by the Bank of Japan. The surest, steadiest bet on global financial markets in that time has been on rising Japanese stocks and a falling ...
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Heres the Bottom Line on Singapore GDP
in the first three months of the year compared with the previous quarter. That was much better than an advanced estimate of the gross domestic product (GDP) data released last month that showed Singapore contracted 1.4 percent in the first quarter or expectations for a contraction of around 1.1 percent. A surge in financial services was cited as reason for the unexpected upward revision. ...
Hong Kong Feature
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Electoral reform hot topic for Hong Kong
Hong Kong is going through more growing pains, perhaps even the most uncomfortable since the city was handed back to Beijing by Britain. Pro-democracy advocates want to be able to vote for the entire legislative council, a direct challenge to Beijing.
Hong Kong was handed back to China in 1997. At that time, Beijing made an agreement with Britain that under a law called the Basic Law, all the civil liberties which were existent in Hong Kong at the time of the hand over would remain in place for at least 50 years, by which time it is envisioned, by the pro-democracy camp at any rate, that the Special Administrative Region will be fully democratic at any rate. Read more
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