Economy

India's Ministry of Finance building is silhouetted against the setting sun in New Delhi. © Reuters

Retrospective taxation

Foreign investors go to court over unexpected Indian demands

KOLKATA, India -- Foreign investors who believed that Prime Minister Narendra Modi's government would tackle India's reputation for unpredictable tax enforcement have been rapidly disillusioned since his Bharatiya Janata Party took power in May 2014....

  • Crackdown on automated trading

    China sidelines US high-frequency trader

    SHANGHAI -- China has stepped up efforts to stabilize stock prices by suspending trading at 24 brokerage accounts, including that of a subsidiary of U.S. hedge fund Citadel. The stock exchanges of Shanghai and Shenzhen announced the three-month s...

  • 2022 Winter Olympics

    Beijing looks to build up regional infrastructure ahead of big event

    BEIJING -- China sees hosting the 2022 Winter Olympics as a chance to develop the economy of the capital and surrounding areas, but it will have to tackle air pollution and other challenges at the same time. Chinese media provided blanket coverag...

  • Heavy footsteps

    Japanese GDP likely sank in April-June on weak spending, exports

    TOKYO -- The Japanese economy's tepid recovery apparently reversed course in the April-June quarter, dragged down by sluggish household consumption and weak exports, according to private research institutes. The average gross domestic product for...

  • Nikkei seminar on growth, investment

    Myanmar touted for potential as regional hub, reforms urged

    YANGON -- Around 300 business leaders from Japan and Myanmar gathered here Friday to discuss the country's rich potential as an unexplored investment frontier, emphasizing the nation's ideal location while calling for more open financial markets. ...

  • Taiwan economy

    Q2 GDP estimate slashed to 0.64% on weak exports

    HONG KONG -- Taiwanese officials cut estimates for second quarter growth on July 31 as high inventory levels of electronics and keen competition from the Chinese technology supply chain led to a slump in exports, a key driver of the island's economy....

  • Price stability at risk?

    Plan to curtail Indian central bank independence stirs worry

    NEW DELHI -- India's conservative government has proposed a draft bill that would strip the country's central bank of its independence by putting the power to set interest rates in the hands of politicians. The plan has created a backlash among e...

  • Japan's jobless rate worsens to 3.4% in June, 1st rise in 5 months

    TOKYO (Kyodo) -- Japan's unemployment rate worsened for the first time in five months to 3.4 percent in June, up 0.1 percentage point from May, the government said Friday, as more people sought jobs in a sign that labor market conditions continue to ...

  • Japan's consumer prices rise 0.1% in June

    TOKYO (Kyodo) -- Japan's consumer prices rose 0.1 percent in June from a year earlier for the 25th straight monthly increase, the government said Friday, with inflation remaining under pressure from declines in crude oil prices. The core consumer...

  • U.S. 2nd-quarter GDP gains speed on consumer spending

    WASHINGTON (Reuters) -- U.S. economic growth accelerated in the second quarter as a pick-up in consumer spending offset the drag from soft business spending on equipment, suggesting a steady momentum that could bring the Federal Reserve closer to hik...

  • Stock players worried too

    Rising pork prices cast shadow over China's central bank

    HONG KONG -- Despite Beijing's outright price-keeping operations, China's stock market is again gyrating wildly. The benchmark Shanghai Composite Index tumbled more than 8% Monday. Selling was sparked by speculation that Chinese monetary authorit...

  • BOJ Watch

    Can Kuroda stay bullish even if China stocks stay on the floor?

    TOKYO -- With China's equity market continuing its roller-coaster ride, the outlook for the Chinese economy is worrying senior officials at the Bank of Japan. The central bank is at a critical juncture in its drive to keep inflation rising, and it is...

  • Itsuo Toshima

    Shanghai stock crash could prove fatal to Xi government

    The Chinese government has implemented a series of bold steps to shore up sagging stock prices, but they could exhaust all available options quite soon. Beijing prohibited funds and other large investors from selling their stockholdings for six m...

  • Likonomics on the rocks

    Chinese hedge funds stir trouble at home, abroad

    TOKYO -- Chinese hedge funds and other speculative investors, which emerged with the help of Beijing's financial deregulation push, are causing turmoil not only in the undeveloped domestic market but also in the global financial markets. Fueling ...

  • Japan June industrial output rises 0.8% on month

    TOKYO (Reuters) -- Japan's industrial output rose 0.8 percent in June, bouncing modestly from the prior month's big drop, government data showed, underlining subdued factory activity under the weight of inventories and sluggish exports. The month...

  • Windfall for part-time workers

    Japan eyes big jump in minimum wage

    TOKYO -- Minimum wages across Japan are expected to make a huge leap, putting more money in the pockets of part-time and temporary workers. An advisory council under Japan's labor ministry prepared guidelines at a Wednesday meeting calling for an...

  • Help wanted

    Japan's part-timers entering era of 1,000-yen wages

    TOKYO -- Part-time workers of all stripes are seeing their wages rise as desperate employers compete for a dwindling pool of young laborers. Private studies show average hourly wages in the Tokyo metropolitan area have surpassed 1,000 yen ($8), w...

  • Reading the BOJ

    Even for pros, Japan's central bank is far from an open book

    TOKYO -- The Bank of Japan knows the impact its monetary policy can have on the yen. To prevent wild fluctuations in the exchange rate, the central bank tries, in various ways, to communicate its intentions to market. But it often seems the two d...

  • Roadblock in Malaysia?

    Ministers meet for a final TPP push

    Lahaina, HAWAII -- Ministerial-level talks began here Tuesday that could end with 12 nations concluding an agreement that would make it easier for corporations and investors to ship products, conduct business and buy assets across borders. Even if th...

  • Pacific trade talks in final stretch as ministers meet in Hawaii

    LAHAINA, Hawaii (Kyodo) -- Talks on a multilateral Pacific free trade agreement are entering the final stretch with trade ministers from 12 countries set to gather Tuesday for make-or-break bargaining toward creating the world's largest free trade zo...