Business News

Deflation returns to Japan as rates stay low

AFP - Saturday, November 21

TOKYO (AFP) - - Japan's central bank left its super-low interest rates unchanged on Friday as the government declared for the first time in more than three years that Asia's biggest economy is in a phase of deflation. More »

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India's Suzlon sells stake in Belgian firm Hansen
AFP - Friday, November 20
NEW DELHI (AFP) - - Suzlon Energy, India's biggest maker of wind turbine generators, has sold a 35-percent stake in Belgian wind gearbox maker Hansen, raising 370 million dollars as it moves to cut debt, a statement said.
Thai exports decline eases in October
AFP - Friday, November 20
BANGKOK (AFP) - - Thai exports in October fell 2.98 percent year-on-year as the sector picks up after being hit hard by the global economic downturn, the commerce ministry said Friday.
ASEAN chief pleas for bloc's 'centrality'
AFP - Friday, November 20
JAKARTA (AFP) - - The Association of Southeast Asian Nations (ASEAN) must remain at the core of regional affairs despite competing visions for a new Asia-Pacific diplomatic framework, the bloc's chief said Friday.
GM Daewoo says mini cars to hit European market
AFP - Friday, November 20
SEOUL (AFP) - - GM Daewoo Auto and Technology Co. said Friday it had started shipping new mini cars to Europe as the South Korean unit of US auto giant General Motors Co. seeks to expand global sales.
Taiwan to probe AIG units buyer
AFP - Friday, November 20
TAIPEI (AFP) - - Taiwan will probe if the buyer of the local unit of American International Group has violated a long-term investment commitment by speedily selling on part of the company, an official said Friday.
EU moves towards ending tariff on Chinese, Vietnamese shoes
AFP - Friday, November 20
BRUSSELS (AFP) - - The European Commission's attempt to renew anti-dumping tariffs on Chinese and Vietnamese shoe imports appeared to be unraveling Thursday as member states lined up to oppose it, an EU source said.
World recover 'modest', debt must stop: OECD
AFP - Friday, November 20
PARIS (AFP) - - China, Asia and the United States are pulling the world out of an economic vortex with surprising if "modest" speed, the OECD declared on Thursday.
Japan Airlines to take time mulling allegiances
AFP - Friday, November 20
TOKYO (AFP) - - Japan Airlines (JAL) will spend up to two months deciding whether to stay with the Oneworld airline alliance or switch to SkyTeam, a senior executive said Thursday.
Malaysia's Maxis returns to bourse with IPO
AFP - Friday, November 20
KUALA LUMPUR (AFP) - - Malaysia's top mobile operator, Maxis, made a strong return to the bourse Thursday in Southeast Asia's biggest ever IPO worth 3.3 billion dollars.
OneAsia golf Tour gets key media partner
AFP - Friday, November 20
SINGAPORE (AFP) - - The rapidly expanding OneAsia Tour appointed a powerful global media and marketing partner Thursday, as chief executive Ben Sellenger said he was confident players would defect from the Asian Tour.
Australia approves Baotou stake in magnetite
AFP - Friday, November 20
SYDNEY (AFP) - - Australia has approved a bid by China's Baotou Iron and Steel to take a 40 million dollar (37 million US) stake in a magnetite project run by Centrex, the mining firm said Thursday.
BHP chief 'cautious' on global recovery
AFP - Thursday, November 19
SYDNEY (AFP) - - The head of the world's largest miner said he was cautious over the strength of the global recovery, as restocking slowed in China and demand in developed nations remained sluggish.
Bangladesh invites bids for new highway
AFP - Thursday, November 19
DHAKA (AFP) - - The Bangladesh government on Thursday invited bids to build a new two-billion-dollar elevated highway to ease chronic traffic congestion in the fast-growing capital Dhaka.
South Korea offers talks on stalled US trade pact
AFP - Thursday, November 19
SEOUL (AFP) - - South Korea said Thursday it is ready for talks to ease US automakers' concerns about a stalled free trade agreement, as US President Barack Obama cautioned that several issues must still be settled.
Taiwan may end China high-tech investment ban
AFP - Thursday, November 19
TAIPEI (AFP) - - Taiwan will decide by the end of the year whether to relax curbs on high-tech investments in China, a report said Thursday, citing the island's premier.
Deutsche Bank to be key player in Chinese bank
AFP - Thursday, November 19
SHANGHAI (AFP) - - Deutsche Bank is set to become the largest shareholder in China's Huaxia Bank after agreeing to increase its stake in the mid-sized lender to 17.12 percent, the Chinese bank said Thursday.
Taiwan rejects HK consortium's bid for AIG unit
AFP - Thursday, November 19
TAIPEI (AFP) - - Taipei has rejected an application by a Hong Kong consortium to buy American International Group's Taiwan unit Nan Shan Life due to insufficient documentation, an official said Thursday.
S.Korean economy to grow in 2010: minister
AFP - Thursday, November 19
SEOUL (AFP) - - South Korea's economy is expected to grow faster next year than the previous forecast of four percent as it rebounds quickly from the global downturn, Finance Minister Yoon Jeung-Hyun said Thursday.
Malaysia's Maxis debuts at 9.2 pct premium in IPO
AFP - Thursday, November 19
KUALA LUMPUR (AFP) - - Maxis, Malaysia's top mobile operator, debuted at a 9.2 percent premium on its reference price of 5.00 ringgit (1.49 dollars) Thursday in Southeast Asia's biggest ever IPO.