Latest Asia Business News
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Nikkei hits new 5 12-yr high on weak yen signs of improving economy
TOKYO, May 20 (Reuters) - The Nikkei share average surged to a fresh 5-1/2 year high on Monday, buoyed by further weakness in the yen and as the Japanese government raised its assessment of the economy in May for the first time in two months. Signs of an improving U.S. economy and Wall Street's record closing high on Friday cemented the positive mood. The Nikkei climbed 1.5 percent to ...
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Gold prices fall by 1.54 in futures trade
futures trade in line with weak overseas trends. Gold prices, which had been plummeting since last week, fell by another Rs 399, or 1.54%, to trade at a Rs 25,556 per 10 grams for delivery in August at the Multi Commodity Exchange. The June contract of gold dropped by Rs 380, or 1.47%, to Rs 25,455 per 10 gm in 2,432 ...
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No case for SP ratings downgrade
There is no case for downgrading India's sovereign credit rating, economic affairs secretary Arvind Mayaram told the news channel ET Now on Monday, after Standard & Poor's reiterated its negative outlook on the country's credit ...
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Toyota plans huge boost in lithium-ion battery output
Toyota is planning a giant increase in production of lithium ion batteries as prepares to use them in its flagship Prius sedan, Reuters reports. Toyota plans a six-fold boost in it use of the batteries, ...
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Thai Q1 GDP Shrinks 2.2 Up 5.3 YY
Thailand's economy contracted more than expected in January-March from the previous three months, which economists said raises the chances that this month will bring a rate cut the government wants. Also on Monday, the National Economic and Social Development Board (NESDB) on Monday trimmed its forecast for full-year economic expansion to 4.2-5.2 percent from 4.5-5.5 percent range. For ...
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Hang Seng up at noon
(41 mins ago) Hong Kong stocks were up 1.70 percent by the break on Monday, with investors encouraged by strong US data and reflecting a bullish mood on Wall Street, which ended last week at another all-time high. The benchmark Hang Seng Index rose 391.35 points to 23,474.03 by the noon break on turnover of HK$37.26 billion, AFP ...
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Australia Stock Rally Showing Signs of Fatigue
Australian stocks have enjoyed solid gains amid the party in global equities, rising around 20 percent over the past six months, however, one strategist fears the rally could be short-lived. The rally ...
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Bank of Japan raises economic outlook
LOS ANGELES (MarketWatch) -- The Bank of Japan said in its May report issued Monday that the nation's economy was slowly improving, marking an upgrade from its views in the April update, according to reports. The previous outlook had mentioned signs of recovery but with weak spots, a Reuters report said, while Dow Jones Newswires said the upgrade was the first in two months. Japanese stocks ...
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Woah Time to Slow That Yen Fall
steep decline and Japan's policymakers are starting to voice their concern about the pace of the currency's move. The yen pulled back from four-and-a-half year lows against the dollar on Monday following a report in the Wall Street Journal that cited Japanese economy minister Akira Amari as saying the yen's excessive strength has now been largely corrected and further weakness in ...
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Nikkei bounces by break
(2 mins ago) Stocks in Tokyo gained 1.38 percent with investors encouraged by strong US data and the weaker yen. The benchmark Nikkei 225 index soared 208.89 points to 15,347.01 by the break while the Topix index of all first-section issues climbed 1.38 percent or 17.29 points to ...
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FOMC Decision Critical to Oil Prices
The U.S. dollar and its reaction to the Federal Reserve Chairman Ben Bernanke's Congress testimony on Wednesday will prove central for crude oil price direction this week, according to CNBC's weekly survey of market sentiment. Nine out of 13 respondents, or about 69 percent, expect prices to soften this week while two forecast gains and the remaining two are neutral on the market. ...
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Hang Seng Shanghai open higher
(28 mins ago) Stocks in Hong Kong opened 1.3 percent higher following a three-day weekend, reflecting a bullish mood on Wall Street, which ended last week at another all-time high. The benchmark Hang Seng Index was up 301.11 points to 23,383.79 in the first few minutes of trade. Shares in Shanghai were up slightly in early trading due to buying of property stocks, dealers said. The benchmark ...
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Qantas find favour with business travellers while Virgin flies steady
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Toyota to boost production of lithium-ion batteries
(MENAFN) Toyota Motor Corp is preparing to increase production of lithium-ion batteries to use them in the company's Prius, reported Reuters citing the Nikkei.The lithium-ion batteries will replace the nickel-metal hydride batteries that the automaker is using on its hybrid cars.This new battery is smaller and lighter, which will help improving the fuel economy.It's worth noting that ...
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Central Banks in Driving Seat for Asia Markets
A two-day Bank of Japan meeting, a speech by the Federal Reserve's chief and minutes from the latest Reserve Bank of Australia gathering put central banks in focus for Asian markets in the week ahead. The Bank of Japan (BOJ) concludes its policy meeting on Wednesday and economists are not expecting any significant changes so soon after the central ...
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Nikkei set to scale fresh 5 12-year highs
Shibulal cited the recent Infosys 3.0 strategy as a transformation exercise that could set the company on a high-quality growth path in the long ...
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China President Makes First Foreign Trip to India
India's Prime Minister Manmohan Singh told visiting Chinese President Li Keqiang on Sunday a recent military standoff in the Himalayas could affect relations between the two countries as they looked to boost bilateral trade. At a meeting shortly after Li arrived in India on his first foreign trip, Singh said relations were affected when "peace and tranquility" on the border was ...
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Qantas crippling the Territory
NT Qantas is crippling the Territory's tourism industry, the national Transport Workers Union has said. The airline cancelled its seven flights a week to Central Australia, as well as direct flights between Canberra and Darwin, in February.TWU national secretary Tony Sheldon, in Darwin for the union's national council meeting today, said government needed to make sure airlines were ...
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Qantas crippling the Territory
Qantas is crippling the Territory's tourism industry, the national Transport Workers Union has said. The airline cancelled its seven flights a week to Central Australia, as well as direct flights between Canberra and Darwin, in February. TWU national secretary Tony Sheldon, in Darwin for the union's national council meeting today, said government needed to make sure airlines were ...
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Banned Bangladesh Factory Still Operates
VF Corp. VF confirmed on Saturday it was still using Liz Apparels to make its clothing following an inspection ordered by the factory owner, Nassa Group, on May 12. VF, whose other clothing brands include North Face, Timberland and Nautica, said its philosophy was to "stay and improve" working conditions."We are in daily contact with the facility and VF's leadership is ...
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Toyota seen to ride on PH growth
MANILA, Philippines--The group of taipan George Ty expects its automotive business under Toyota Motor Philippines (TMP) to get a big boost from the rise of the domestic economy as per capita gross domestic product (GDP) is seen to hit $3,000 in the next few years. GT Capital, the parent company of TMP, is ready to ramp up manufacturing output and expand its distribution network to meet the ...
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HC clears Vodafone-Indus tower merger
MUMBAI: A recent Delhi high court order allowing the merger of Vodafone Essar's tower assets into Indus Towers will finally clear all legal hurdles for the tower company - a joint venture between India's top three private mobile operators Bharti Airtel, Vodafone ...
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Take away 3 RIL gas finds DGH
Shibulal cited the recent Infosys 3.0 strategy as a transformation exercise that could set the company on a high-quality growth path in the long ...
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Everstone nets Rs 1.3k cr for warehouses
private equity firms, has raised $250 million (over Rs 1,350 crore) from global investors to build industrial warehousing in the country. The just-concluded fund raise probably signals the return of long-term risk investors to India investment story, which they had put on hold for last 24 months. Everstone is developing a network of warehousing centres through IndoSpace Logistics Parks, a joint ...
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Pesky calls SMSs back Trai looks for a fix
real estate development in town, pesky messages have made a strong comeback. What's worse, there is a sudden rise in the number of phone calls, several of which are soliciting donations from non-governmental organizations (NGOs) that you have probably never heard of. Then, there are agents of some of the ...
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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