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  • National People's Congress

    China hints at 10% defense budget rise

    Beijing -- China's military spending this year will rise around 10%, an official said Wednesday. The growth rate will be slightly lower than last year's 12.2%. "There is a need for China to protect our country and offer our people a sense of sec

    March 4, 2015 03:30 pm JST
  • Indian surprise

    Rajan cuts policy rate to 7.5%

    NEW DELHI -- The Reserve Bank of India on Wednesday announced another surprise interest rate cut, bringing down the repo rate 25 basis points to 7.5%, the second such move outside the monetary policy cycle in less than two months. The new rate t

    March 4, 2015 03:10 pm JST
  • BTPN

    Indonesian bank getting $300M worth of lending fuel from SMBC, IFC

    JAKARTA -- Japan's Sumitomo Mitsui Banking Corp. and International Finance Corp., a unit of the World Bank, have agreed to provide $300 million worth of rupiah-denominated loans to Bank Tabungan Pensiunan Nasional. The goal is to help BTPN increase

    March 4, 2015 02:48 pm JST
  • China's 2015 military spending to rise about 10%

    BEIJING (Kyodo) -- China will increase its military spending by around 10 percent this year, a spokeswoman of China's top legislature said Wednesday. Fu Ying told a press conference the country's specific defense budget figures will be released

    March 4, 2015 01:19 pm JST
  • India central bank cuts key rate to 7.5%

    MUMBAI (Dow Jones) -- The Reserve Bank of India surprised markets Wednesday with an unscheduled cut to its key lending rate, indicating that it is joining a widespread easing in monetary policy the world over. The RBI cut its main repurchase rat

    March 4, 2015 01:05 pm JST
  • Weapons exports

    Japan government, private sector clash over industry development

    TOKYO -- A chasm is growing between the Japanese government and its domestic defense industry. Nearly a year after the Abe administration introduced principles to allow for the export of defense equipment, relaxing a decades-old self-imposed ban on

    March 4, 2015 01:00 pm JST
  • Heavy equipment maker acquistions

    Hitachi prepares for battle with Chinese rivals

    TOKYO -- Hitachi's recent purchase of the railway and signaling business of Finmeccanica, an Italian defense and aviation company, was unexpectedly expensive. It had to raise its bid to around 260 billion yen ($2.14 billion), due to the decline in t

    March 4, 2015 01:00 pm JST
  • A Cambodian odyssey

    Not easy rock 'n' roll -- the saving of Srey Thy

    PHNOM PENH -- Cambodian rock 'n' roll from the era before Pol Pot is slowly finding its way back through speakers across the nation and throughout the world, thanks to the lead singer of Cambodian Space Project. "When I was 19 years old, I left

    March 4, 2015 01:00 pm JST
  • Fiber provider

    Toray weaves production hub network

    SHANGHAI/NANTONG -- Toray Industries is stepping up efforts to develop tailor-made products for regional markets as it expands globally. For many years, the Japanese fiber maker has maintained a technological advantage over rivals. It has done s

    March 4, 2015 01:00 pm JST
  • Debate on trade bill at U.S. Congress may be delayed: reports

    WASHINGTON (Kyodo) -- The chief of a U.S. Senate panel handling trade issues suggested Tuesday there would be further delay in debating a bill to grant President Barack Obama fast-track authority to sign trade deals, according to U.S. reports. "

    March 4, 2015 12:52 pm JST
  • Dollar edges down in upper 119 yen zone on drop in Tokyo stocks

    TOKYO (Kyodo) -- The U.S. dollar fell slightly in the upper 119 yen zone Wednesday morning in Tokyo on reduced risk appetite due to a drop in Tokyo stocks. At noon, the dollar fetched 119.60-61 yen compared with 119.70-80 yen in New York and 119

    March 4, 2015 12:45 pm JST
  • Tokyo stocks fall in morning on Wall St. decline, profit-taking

    TOKYO (Kyodo) -- Tokyo shares fell Wednesday morning as investor sentiment was cooled by declines in Wall Street shares the previous day and amid signs of an overheating market. The 225-issue Nikkei Stock Average shed 145.13 points, or 0.77 perc

    March 4, 2015 12:35 pm JST
  • ASEAN capital markets

    Singapore, Malaysia, Thailand sign deal on common market rules

    SINGAPORE -- The Association of Southeast Asian Nations has moved one step closer to integrating its capital markets, with Singapore, Malaysia and Thailand agreeing to set up a framework for cross-border offering in securities. The Monetary Auth

    March 4, 2015 12:12 pm JST
  • Tokyo stocks fall in early trading on Wall St. declines

    TOKYO (Kyodo) -- Tokyo stocks fell in early trading Wednesday as investor sentiment was cooled by declines in Wall Street shares the previous day. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 156.67 points, or 0.83

    March 4, 2015 09:40 am JST
  • Dollar trades in upper 119 yen zone in early Tokyo deals

    TOKYO (Kyodo) -- The U.S. dollar traded in the upper 119 yen zone in Tokyo early Wednesday, little changed from its levels overnight in New York. At 9 a.m., the dollar fetched 119.63-64 yen compared with 119.70-80 yen in New York and 119.78-80 y

    March 4, 2015 09:35 am JST
  • Capital spending

    Nippon Steel sees upgrades as vital to compete

    TOKYO -- Japan's Nippon Steel & Sumitomo Metal plans to spend an additional 100 billion yen ($826 million) a year on domestic equipment and step up hiring to further boost operational efficiency and take on rising Asian peers.Running ahead of schedu

    March 4, 2015 07:14 am JST
  • Utility deregulation

    Bill offers Japanese consumers new choices

    TOKYO -- Japan's cabinet approved a bill Tuesday that would end more than 60 years of regional monopolies on the sale of electricity and natural gas. The bill, likely to be enacted during the current parliament, would create open markets for res

    March 4, 2015 06:57 am JST
  • Quake reconstruction

    Tokyo could start asking local governments to chip in

    TOKYO -- Municipal governments affected by the 2011 earthquake and tsunami may have to start shouldering some of the rebuilding costs in fiscal 2016, Japan's minister for reconstruction told reporters Tuesday. Wataru Takeshita said that the curr

    March 4, 2015 06:52 am JST
  • Going for globalization

    More Japanese companies making jump to IFRS

    TOKYO -- The number of Japanese companies using or switching to International Financial Reporting Standards is poised to quadruple over two years as cash-flush businesses seek to make overseas acquisitions easier. While just 25 Japanese companie

    March 4, 2015 06:49 am JST
  • Intimidating display

    North Korea preps midrange missiles for launch

    SEOUL -- North Korea's midrange Nodong missiles are now ready to launch, a South Korean government source revealed Tuesday, marking yet another bid by Pyongyang to pressure Seoul into a dialogue. Two mobile launchers loaded with the missiles wer

    March 4, 2015 06:37 am JST