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  • China central bank cuts bank reserve requirement by 1 percentage point

    BEIJING (Dow Jones) -- China's central bank cut the reserve requirement on bank deposits, in a move to free up funds for loans to struggling companies as the economy slows. The People's Bank of China said Sunday it was cutting the reserve requi

    April 19, 2015 06:50 pm JST
  • Precious metals

    Gold production may peak in 2015 - report

    TOKYO -- World gold production may peak this year, as plummeting prices for the precious metal make it difficult for companies to develop new mines. According to a report by the World Gold Council, the industry's market development organization,

    April 19, 2015 01:00 pm JST
  • US-led finance at crossroads

    AIIB steals show at G-20 as IMF criticized

    WASHINGTON -- The China-led Asian Infrastructure Investment Bank won support from the international community at a meeting of Group of 20 leading nation finance chiefs that closed on Friday. The U.S., meanwhile, was criticized for failing to give gr

    April 19, 2015 02:00 am JST
  • Rise of AIIB reflects growing presence of emerging economies

    WASHINGTON (Kyodo) -- A planned Chinese-led investment bank may not have been the major theme at a meeting of Group of 20 finance chiefs, but it drew significant attention amid the growing presence of emerging economies. On the sidelines of the

    April 18, 2015 07:40 pm JST
  • AIIB launch

    ASEAN members expect funding from new bank

    TOKYO -- In November 2014 in Beijing, Indonesian President Joko Widodo proposed to Chinese President Xi Jinping that the headquarters of the China-led Asian Infrastructure Investment Bank be located in Indonesia. It was not just an off-the-cuff

    April 18, 2015 01:00 pm JST
  • Tighter market

    Asian price of plastic feedstock jumps

    TOKYO -- The price of styrene monomer, a feedstock for making plastic, has increased sharply in Asia this year on facility maintenance by producers and an uptick in demand in China. The spot price in Asia has shot up 57% from a recent low in ear

    April 18, 2015 06:02 am JST
  • Paradigm shift

    TPP could reshape economic future of the Asia-Pacific

    TOKYO -- As negotiations over the Trans-Pacific Partnership free trade pact kick back into gear, Japan and the U.S. now face the crucial task of creating a new regional economic order based on the rule of law. The chief negotiators of the two na

    April 18, 2015 05:52 am JST
  • New stock bubble?

    Shanghai market capitalization tops Japan's

    SHANGHAI -- Shanghai stocks' aggregate market capitalization surpassed that of Japanese shares for the first time ever this month, as bullish individual investors continue to pour money into the market. The Shanghai Stock Exchange Composite Inde

    April 18, 2015 05:50 am JST
  • Emerging-market alliance

    Asian, African leaders eye closer ties

    JAKARTA -- Asian and African leaders will discuss various forms of economic cooperation when they meet in Indonesia next week to mark the 60th anniversary of the landmark Bandung Conference. Indonesian Foreign Minister Retno Marsudi has put fort

    April 18, 2015 03:04 am JST
  • Going upscale

    China's Midea taking appliances to Japan, Southeast Asia

    TOKYO -- Midea, one of China's leading manufacturers of household appliances, is accelerating its push into foreign markets and may even set up a development base in Japan this year. By releasing high-value-added white goods under its own Midea

    April 18, 2015 02:18 am JST
  • Alibaba-Shanghai GM

    Strategic Internet alliance with US automaker

    HONG KONG -- Alibaba Group Holdings and Shanghai General Motors are teaming up to sell cars online in the world's largest automobile market. China's leading Internet company and the Sino-American joint venture car manufacturer announced their "s

    April 18, 2015 12:30 am JST
  • Chow Tai Fook

    Jewelry retailer's sales down 16% as Chinese visitors drop

    HONG KONG -- Chow Tai Fook Jewellery Group, Hong Kong's largest jewelry retailer, saw its same store sales drop 16% in the January-March quarter amid the falling number of customers from mainland China, the company said Wednesday. In particular,

    April 17, 2015 08:00 pm JST
  • Garuda Indonesia

    Flag carrier bets heavily on China for turnaround

    JAKARTA -- Garuda Indonesia's new CEO is refocusing the flag carrier's international strategy toward China, the Middle East and Europe in a bid to return to profit. "I have to concentrate on how to maximize our capacity in suitable markets," Ari

    April 17, 2015 07:00 pm JST
  • Australian natural resources

    Slow hard road for China coal project

    SYDNEY -- China's giant state-owned Shenhua Group has spent more than 700 million Australian dollars ($539 million) in the last seven years on its Watermark coal project in the Australian state of New South Wales, including a A$300 million up-front

    April 17, 2015 07:00 pm JST
  • Opinion & Analysis

    In China, Tesla was a too-early bird

    Tesla Motors, the California-based maker of cutting-edge electric cars, announced disappointing sales for its most recent quarter. The company cited multiple reasons for the sluggish performance, including weather, delivery problems and capacity iss

    April 17, 2015 07:00 pm JST
  • Chinese journalist given 7-yr jail term for "leaking state secrets"

    BEIJING/HONG KONG (Kyodo) -- A Chinese court sentenced prominent Chinese journalist Gao Yu to seven years in jail for leaking a document that revealed China's determination to crack down on freedom of speech and civil society, her lawyer said Friday

    April 17, 2015 03:10 pm JST
  • Xi's next target

    China's automakers caught in corruption sweep

    BEIJING -- After cracking down on the oil industry, Chinese President Xi Jinping's anti-corruption drive has a new target: the auto industry. Xu Jianyi, the 61-year-old chairman of state-owned automaker FAW Group, disappeared from Jintai Hotel i

    April 17, 2015 01:00 pm JST
  • Hello tourists

    Sanrio goods now a must-have for foreigners in Japan

    TOKYO -- Sanrio, the company behind Hello Kitty, has worked hard at drawing visitors to Japan into its world of cute. The throngs of tourists at its store on the Yaesu side of Tokyo Station attest to the enduring international popularity of its

    April 17, 2015 05:45 am JST
  • Tarnished arches

    McDonald's takes cue from French unit in drive to regain luster

    TOKYO -- McDonald's Holdings (Japan) will focus on renovations and cutbacks to return to profitability, but its fortunes ultimately may hinge on the ability to rebrand itself as a healthier, more locally oriented eatery. McDonald's Japan expects

    April 17, 2015 05:19 am JST
  • Hong Kong market

    Haier Electronics plunges as US stakeholder moves to sell

    HONG KONG -- Haier Electronics sank nearly 10% at one point Thursday on news that U.S. asset management company Carlyle Group sought to unload its entire interest. The stock ended 6.7% lower at 23.50 Hong Kong dollars ($3.09). Carlyle looked

    April 17, 2015 04:19 am JST