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  • AIIB membership

    Taiwan applies to join China's new bank

    TAIPEI -- Taiwan confirmed on Tuesday that it is applying to be a founding member of the Asian Infrastructure Investment Bank (AIIB), China's regional development bank. Taiwan's decision comes after the U.K., Germany and France signed up for AII

    April 1, 2015 12:10 am JST
  • Myanmar insurgency

    In search of an elusive final ceasefire

    YANGON -- As President Thein Sein looked on, a historic draft national ceasefire accord was signed on Tuesday in the former capital by government representatives and ethnic rebels that could finally open the way to the cessation of more than 65 year

    March 31, 2015 10:55 pm JST
  • Mobile payment

    Smartphones replacing wallets in China

    Shanghai -- Mobile payment is flourishing in China. It is not limited to online shopping either. People are using their smartphones or other mobile devices to do everything from paying taxi fares to exchanging money with friends. The number of p

    March 31, 2015 07:00 pm JST
  • Nickel price declines

    Russia ups exports amid weak ruble

    TOKYO -- Nickel prices have slumped of late. A number of factors are pushing prices down. Russia, a major producer, is not helping matters. Nickel futures on the London Metal Exchange are trading at around $14,000 per ton, down 8% from the end o

    March 31, 2015 01:00 pm JST
  • Joining the bandwagon

    Australia to play its own game at AIIB

    SYDNEY -- Five months after rejecting China's first invitation to join the Asian Infrastructure Investment Bank, Australia announced its participation as a founding member on March 29, two days ahead of the extended deadline. Peter Drysdale, Emeritu

    March 31, 2015 01:00 pm JST
  • AIIB participation

    Japan puts off decision

    TOKYO -- Japan will put off a decision on whether to join the China-led Asian Infrastructure Investment Bank, Taro Aso, deputy prime minister and finance minister, said Tuesday. "We have no choice but to take a highly cautious stance on particip

    March 31, 2015 11:00 am JST
  • Washington and the AIIB

    US open to cooperation, expects good governance, Lew says

    BEIJING -- The U.S. looks forward to cooperating with the Asian Infrastructure Investment Bank and welcomes a bigger role for China in regional infrastructure building, U.S. Treasury Secretary Jacob Lew told Premier Li Keqiang here Monday. Lew's

    March 31, 2015 05:44 am JST
  • New opportunities

    Chinese banks eye securities trading, stronger foreign ops

    SHANGHAI -- Chinese banks are looking to enter new business areas, with stepped-up expansion abroad and a possible lifting of the firewall between banking and securities trading drawing particular attention. The China Securities Regulatory Commi

    March 31, 2015 02:55 am JST
  • New normal

    Bad debt mounting at China's big banks

    HONG KONG -- The days of double-digit growth at state-owned Chinese banks seem to be ending as the economy decelerates and nonperforming loans proliferate. Top four players Bank of China, Industrial and Commercial Bank of China, China Constructi

    March 31, 2015 02:52 am JST
  • Strategy shift

    China's No. 1 air conditioner maker to launch smartphones

    HONG KONG -- Gree Electric Appliances, China's largest air conditioner manufacturer, is poised to elbow its way into the crowded smartphone market as early as this year. The Zhuhai-based company aims to sell as many as 100 million units a year,

    March 31, 2015 12:56 am JST
  • China eases housing tax, lending rules to fight downturn

    SHANGHAI/BEIJING (Reuters) -- China on Monday courted home buyers with a bigger tax break as it cut downpayment requirements for the second time in six months, stepping up a fight against sliding house prices that is imperiling the world's second-bi

    March 30, 2015 10:24 pm JST
  • 'Fourth industrial revolution'

    German-Chinese alliance may hurt Japan

    Germany's push toward what it dubs the fourth industrial revolution is bringing the manufacturing powerhouse closer to China. This could create a formidable challenge for Japanese manufacturers. Digital economy was this year's theme at CeBIT, th

    March 30, 2015 07:00 pm JST
  • XCMG's earnings

    Chinese construction machinery maker's net profit drops 74%

    SHANGHAI -- China's XCMG Construction Machinery said Monday that its net profit tumbled 74.2% from a year earlier to 413 million yuan ($66.4 million) in the year through December 2014. The state-owned, Jiangsu Province-based company saw both dom

    March 30, 2015 07:00 pm JST
  • Remembering Lee

    Singapore's era of diplomatic influence

    SINGAPORE -- Visionary leader Lee Kuan Yew played an important role in key postwar developments which shaped the geopolitical landscape in Asia. Born to an ethnic Chinese family, the Cambridge University educated Lee, who died on March 23 at th

    March 30, 2015 07:00 pm JST
  • Sri Lanka shock

    China's 'string of pearls' gets looser

    TOKYO -- The island nation of Sri Lanka is famous for tea. But its greatest asset may be its geographical location, just to the south of India and in the center of the sea lane connecting Asia and the Middle East for maritime trade. China is cer

    March 30, 2015 07:00 pm JST
  • Chinese cement glut

    Anhui Conch looks abroad for growth

    SHANGHAI -- China's second-largest construction materials producer, Anhui Conch Group, is accelerating its push into emerging markets to ride out a domestic supply glut brought on by a slowing economy. The company's outward-looking stance will l

    March 30, 2015 01:00 pm JST
  • Staying competitive

    Chinese companies respond to slowing markets

    SHANGHAI -- China has decided to rethink its focus on breakneck economic growth brought about by excessive production and investments. Xia Yujie, director of Chinese autoparts maker Anhui Zhongding Holding, and Zhou Zhongshu, president of Chinese me

    March 30, 2015 01:00 pm JST
  • Companies beware

    China toughens its attitude to graft

    TOKYO -- President Xi Jinping anti-corruption drive in China shows no signs of slowing. Xi's anti-graft campaign is widening to target business executives as well as political heavyweights and senior government officials. Companies need

    March 30, 2015 07:00 am JST
  • Cutting red tape

    Chinese central bank mulls easing currency controls

    BOAO, China -- The nation's central bank is eyeing aggressive financial reforms to encourage international use of the yuan, including loosening capital controls. "This year, we may be able to thoroughly update the laws on foreign exchange contro

    March 30, 2015 01:50 am JST
  • Speech translation app

    Sumitomo Rubber improves its Chinese communication

    TOKYO -- Sumitomo Rubber Industries in January introduced a Japanese-Chinese speech translation app for smartphones. The major tire maker is encouraging closer communication between its Japanese and local workers in production bases in China and oth

    March 29, 2015 01:00 pm JST