Economy

Bank of Japan Gov. Haruhiko Kuroda speaking at Tuesday's fintech forum.

BOJ looking at fintech with hope, caution

TOKYO -- The Bank of Japan sees huge potential is financial technology, or fintech, but is also aware of the challenges ahead, such as ensuring security of information.At a meeting Tuesday, BOJ Gov. Haruhiko Kuroda noted fintech's potential in affect...

  • Commentary

    Rainer Michael Preiss -- Bottom nears for Mongolia

    Its currency is plunging and worries are growing of a possible debt default, but government resolve and a turn in commodities market can bring hope.

  • BOJ may apply 'fintech' to its operations in future: Kuroda

    TOKYO (Reuters) -- Bank of Japan Governor Haruhiko Kuroda said the central bank may apply financial technology, or "fintech," to its operations in the future given its growing influence on global payments, settlements and financial services.The BOJ i...

  • ASEAN trade beckons strict food safety measures

    HANOI -- Rising income levels and increased cross-border trade in Southeast Asia are seeing a corresponding rise in stronger food safety measures in many countries in the region, including hefty fines on violators.

  • China dumps duties on Japanese steel after WTO ruling

    TOKYO -- China jettisoned anti-dumping duties on certain Japanese steel products Monday in line with a World Trade Organization ruling against Beijing last fall.The duties of around 10% were introduced in November 2012 for high-performance stainless ...

  • Tokyo Olympic officials find hints, warnings in Rio

    RIO DE JANEIRO -- Organizers for the 2020 Olympics in Tokyo are learning from Rio's successes and missteps, including how to cut costs without eating into convenience.

  • Japan to float 2.7tn yen in bonds for stimulus spending

    TOKYO -- Japan looks to issue 2.75 trillion yen ($27.3 billion) in construction bonds to fund stimulus spending in a supplementary budget devised Monday.The budget contains 4.11 trillion yen in general-account spending, primarily on infrastructure, p...

  • India air traffic surges in July as fares fall

    MUMBAI (NewsRise) - India's domestic air traffic soared to a record in July, as lower fares spurred more passengers to take flights in the fastest-growing aviation market in the world.The number of passengers flown in the seasonally weak July grew 26...

  • India, Philippines rescue stranded Middle East laborers

    As the price of oil brings Middle East construction sites grinding to a halt, Delhi and Manila are being forced to repatriate citizens stranded without pay.

  • Turkey mortgage lenders toe Erdogan's line

    ISTANBUL -- Turkey's banks are cutting mortgage rates at the behest of President Erdogan. The aim is to spur economic activity following last month's failed coup, but the reductions also raise concerns about financial institutions' earnings.

  • Commentary

    Stephen Grenville -- Australia needs better foreign investment rules

    Canberra's growing policy incoherence on investment inflows, especially from China, risks selling the country short.

  • Fed close to hitting job and inflation targets -- Fischer

    The Federal Reserve is close to hitting its targets for full employment and 2 percent inflation, the Fed's No. 2 policymaker said on Sunday in comments that did not address when the U.S. central bank should next raise interest rates.The Fed has been ...

  • Indonesia budget faces facts in bid for credibility

    JAKARTA -- Indonesia's proposed fiscal 2017 budget is unusually modest and realistic in a country notorious for setting and missing bold fiscal targets -- a change of course central to the government's goal of building credibility with investors unde...

  • Middle class kicks Philippine car-buying into high gear

    MANILA -- The Philippine car market is booming along with the economy, making Japanese and other multinational automakers sit up and take notice.

  • Modi handpicks monetary policy hawk to succeed Rajan

    MUMBAI -- Urjit Patel, a deputy governor at the Reserve Bank of India, has been appointed as the central bank's next governor.Patel is a close aide to current chief Raghuram Rajan, who two months ago surprised markets by announcing he would step down...

  • India names Urjit Patel as next RBI governor

    MUMBAI (Reuters) -- India's government promoted Urjit Patel, a deputy governor in charge of monetary policy at the Reserve Bank of India, to serve as its next governor for a three-year term, it said on Saturday.Patel will replace Raghuram Rajan, a fo...

  • Singapore seniors solving labor crisis

    SINGAPORE -- As the country's population ages, Singapore's senior citizens are becoming an increasingly important part of the workforce.Raymond Ong, with his slicked-back hair and immaculate white shirt, arrives perfectly turned out for a shift as a ...

  • Mongolia raises interest rate to 15% to fight currency slide

    DALIAN, China -- Mongolia's central bank has lifted the country's key interest rate by 4.5 percentage points to 15% in a desperate move to halt the home currency's decline amid capital flight triggered by plunging resource prices.Thursday's hike came...

  • Growth gap leaves Chinese provinces leery of capacity cuts

    BEIJING -- The Chinese government will send inspection teams across the country to check local progress on trimming excess coal and steel capacity, aiming to prod provinces where economic pain has dampened enthusiasm for reform.Some parts of the coun...

  • China's local governments shield 'zombies' as defaults swell

    DALIAN, China -- Even as defaults surge among Chinese companies, local governments are keeping failing businesses on life support, fearing the impact on already battered economies if major employers go under.A Dongbei Special Steel Group plant in thi...