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  • Tokyo stocks surge on Fed rate view

    TOKYO (Kyodo) -- Tokyo stocks surged Friday as market sentiment continued to be lifted by the U.S. Federal Reserve's assurance that it could be patient in raising its key interest rate. The 225-issue Nikkei Stock Average ended up 411.35 points,

    December 19, 2014 04:00 pm JST
  • Genting in NY

    Malaysian leisure giant fails in bids for U.S. casino licenses

    KUALA LUMPUR -- Genting Malaysia, a leading casino operator, said it had failed to secure gaming licenses from the New York state gaming regulator but the group did win one indirectly through its owner's privately held company. The New York Gami

    December 19, 2014 03:20 pm JST
  • Tourism in Japan

    Halal karaoke, anyone?

    TOKYO -- Japanese karaoke chain operator Koshidaka Holdings will on Dec. 25 open a shop that serves certified halal food and has a prayer room for Muslim customers. The company sees an opportunity in the growing number of tourists from Islamic count

    December 19, 2014 02:00 pm JST
  • Japanese institute fails to reproduce results of stem-cell research

    TOKYO (Dow Jones) -- Japan's Riken research institute said Friday that efforts to reproduce results of what was once billed as a groundbreaking method of creating stem cells have failed, likely bringing to a close a scandal that rocked the scientifi

    December 19, 2014 01:30 pm JST
  • BOJ stands pat on policy

    TOKYO (Dow Jones) -- The Bank of Japan stood pat on monetary policy Friday, opting to gauge the effects of its expanded stimulus campaign, despite a rapid fall in global oil prices that threatens its efforts to generate 2% inflation. Investors h

    December 19, 2014 01:10 pm JST
  • Cheap oil

    Plunging prices spark cheers, jitters

    NEW YORK -- Continued slides in crude oil prices are bringing about benefits in developed economies. Cars were lined up at a gas station in Oklahoma City in the central U.S. in early December, as drivers filled up their tanks with gasoline that

    December 19, 2014 01:00 pm JST
  • Leading Japan

    Will Abe's golden age last four more years?

    TOKYO -- Excitement electrified the Dec. 14 night air at Prime Minister Shinzo Abe's party headquarters in central Tokyo. The atmosphere was in stark contrast to the freezing weather that day as the city saw its first snowfall of the season. As

    December 19, 2014 01:00 pm JST
  • Solar power

    China's rural poor turn sun rays into yuan

    BEIJING -- There is not much money in Anhui Province, but there is plenty of sun. "I couldn't even use a fan in the summer," said Ni Chuanjiang. "I couldn't afford to." Ni recently lost both his wife and mother to cancer. The 50-year-old has

    December 19, 2014 01:00 pm JST
  • Dollar firm at around 119 yen amid prospects for U.S. rate hike

    TOKYO (Kyodo) -- The U.S. dollar remained firm at around the 119 yen line Friday morning in Tokyo amid expectations of a U.S. rate hike next year, while the market awaited the outcome of a Bank of Japan policy meeting. At noon, the dollar fetche

    December 19, 2014 12:48 pm JST
  • Tokyo stocks surge in morning as Fed rate outlook lifts sentiment

    TOKYO (Kyodo) -- Tokyo stocks surged Friday morning as market sentiment continued to be lifted by the U.S. Federal Reserve's statement that it would be patient in raising its key interest rate. The 225-issue Nikkei Stock Average gained 330.07 po

    December 19, 2014 12:33 pm JST
  • Thai materials giant's global shift

    Siam Cement invests in Norway, Indonesia firms

    BANGKOK -- Siam Cement, Thailand's largest materials conglomerate, announced on Thursday the acquisitions of two overseas companies, a Norwegian R&D firm and an Indonesian packaging company. "These investments reflect the determination of Siam C

    December 19, 2014 11:45 am JST
  • TUF expanding in US

    Thai tuna giant buys Bumble Bee for $1.51B

    BANGKOK -- Thai Union Frozen Products, the world's largest canned tuna producer, has agreed to acquire a 100% stake in U.S. peer Bumble Bee Seafoods for $1.51 billion from a U.S. private equity company. The takeover will boost TUF's revenue by 25%,

    December 19, 2014 11:10 am JST
  • Tokyo stocks open sharply higher after Wall St. gains

    TOKYO (Kyodo) -- Tokyo stocks opened sharply higher Friday on the heels of gains on Wall Street. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 297.43 points, or 1.73 percent, from Thursday to 17,507.48. The broader

    December 19, 2014 09:33 am JST
  • Dollar trades at upper 118 yen level in early Tokyo deals

    TOKYO (Kyodo) -- The U.S. dollar traded in the upper 118 yen range Friday in Tokyo, almost unchanged from its levels overnight in New York. At 9 a.m., the dollar fetched 118.87-93 yen compared with 118.79-89 yen in New York and 118.68-70 yen in

    December 19, 2014 09:08 am JST
  • Maps and apps

    China's Baidu investing in Uber to tackle mobile challenge

    BEIJING -- Chinese search engine leader Baidu has announced that it will invest in Uber Technologies, the U.S.-based provider of the Uber mobile ride-sharing app. Uber will take advantage of Baidu's mobile map and search functionality to make it

    December 19, 2014 07:21 am JST
  • Focus on health care

    Fujifilm chief says new drugs under development

    TOKYO -- Fujifilm Holdings, whose experimental Ebola drug grabbed the spotlight amid an outbreak in West Africa, is working to strengthen its health care business by developing new treatments, the company's chief executive officer told The Nikkei.

    December 19, 2014 07:06 am JST
  • Convenience stores still strong

    Seven & i profit seen at record high for March-November

    TOKYO -- Seven & i Holdings is expected to post a consolidated operating profit of more than 250 billion yen ($2.09 billion) for the March-November period, a second straight record high for the three quarters. The figure slightly exceeds the 249

    December 19, 2014 06:46 am JST
  • Turning to Southeast Asia

    JX Nippon Oil plans first overseas refinery in Vietnam

    TOKYO -- JX Nippon Oil & Energy is preparing to build its first overseas oil refinery in Vietnam, and it may get into the gas station business there as well. The Japanese petroleum distributor plans to partner with state-run Vietnam National Pet

    December 19, 2014 06:43 am JST
  • Avoiding double taxation

    Mitsui could ink advance pricing pacts with Japan, India

    NEW DELHI -- Japanese trading house Mitsui & Co. is on track to become the first company to sign an advance pricing agreement with both Japan and India to safeguard against transfer pricing disputes, paving the way for compatriots to boost investmen

    December 19, 2014 06:36 am JST
  • Weak debut for gumi

    Smartphone game developers fail to excite investors

    TOKYO -- Japan's smartphone game developers are losing steam these days, with Thursday's highly anticipated initial public offering of gumi turning out to be a disappointment. Tokyo shares rallied that day, with the Nikkei Stock Average soaring

    December 19, 2014 05:59 am JST