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  • China tightens grip on yuan to fend off weakening

    BEIJING -- China's new yuan-dollar rate calculation gives the central bank broader discretion to counter natural movements in the currency market, in a sign that the desire to prevent rapid softening of the yuan overrides a decadelong trend toward l

    June 22, 2017 10:36 am JST
  • Asia's financial safety net is a work in progress

    TOKYO In early May, the Asian Development Bank celebrated its 50th anniversary at its annual meeting in Yokohama, a port city south of Tokyo. Finance ministers and central bankers from the Association of Southeast Asian Nations, China, Japan and Sou

    June 22, 2017 10:00 am JST
  • The AIIB adds members and distances itself from Beijing

    JEJU, South Korea/BEIJING The Chinese-led Asian Infrastructure Investment Bank admitted three new members on June 16 at the institution's second annual meeting, lifting its roster to 80 even as the bank continues its cautious approach in deploying c

    June 22, 2017 10:00 am JST
  • Interview: 'Dispelling suspicions' is key, says AIIB vice president

    JEJU, South Korea The Asian Infrastructure Investment Bank plans to remain lean and keep working with other multilateral lenders as it expands operations, one of the bank's vice presidents said on June 17."We will continue to co-finance, and we will

    June 22, 2017 10:00 am JST
  • Taiwan alarmed by Chinese overtures to its diplomatic allies

    TAIPEI/BEIJING After Panama became the latest country to sever diplomatic relations with Taiwan in favor of China on June 13, Taipei fears Beijing will step up its drive to recruit the island's remaining friends in Central and South America.The Taiw

    June 22, 2017 10:00 am JST
  • Beijing looks to throw Taiwan's leadership off balance

    XIAMEN, China/TAIPEI Leading economic and cultural figures from China and Taiwan recently gathered in Xiamen, Fujian Province, to discuss expanding cross-strait exchanges. But for Beijing, the ninth Straits Forum, which kicked off on June 17, was le

    June 22, 2017 10:00 am JST
  • Takata is close to filing for bankruptcy protection in Japan

    TOKYO Embattled air bag maker Takata could file for bankruptcy protection under the Civil Rehabilitation Act as early as June, likely marking the biggest corporate failure in Japanese manufacturing in the postwar era.Takata's liabilities are seen as

    June 22, 2017 10:00 am JST
  • Anbang's Wu Xiaohui pays the price for defying Beijing

    Just a few months ago, Wu Xiaohui, chairman of China's troubled Anbang Insurance Group, was in New York trying to secure a better credit rating for the voraciously acquisitive company he founded in 2004. Now he has disappeared, unseen since May, and

    June 22, 2017 10:00 am JST
  • Multinationals in Asia: Expedia books a trip to the soaring Asian market

    SINGAPORE Dressed casually in a pair of jeans and black jacket, Dara Khosrowshahi spoke with a friendly smile, but with determination in his eyes. "The U.S. used to be the driver of our global strategy and other areas would follow," he said. "But As

    June 22, 2017 10:00 am JST
  • Cracking the slot machine market -- Chinese style

    SHANGHAI Macau passed Las Vegas as a casino market years ago thanks especially to its flourishing baccarat tables. Macau's slot market, on the other hand, still lags behind that of its American counterpart.Tony Payne, a veteran of the U.S. slot mach

    June 22, 2017 10:00 am JST
  • German towns attempt to cash in on 'red tourism'

    TRIER, Germany The German city where Karl Marx was born on May 5, 1818, is bracing for an onslaught of tourists from nominally communist China as the 200th anniversary of his birth approaches.Vineyard-surrounded Trier, home to 110,000 people, has re

    June 22, 2017 10:00 am JST
  • Christopher Aston: Chinese local government debt continues to pile up

    Since the 2008 financial crisis, Chinese economic policymakers have been grappling with rising debt amid worries about slowing growth. On the front line of this battle are local government officials, who must juggle the conflicting targets of reduci

    June 22, 2017 10:00 am JST
  • Editorial: It is time for Japan and the US to join the AIIB

    The China-led Asian Infrastructure Investment Bank held its second annual general meeting in the South Korean resort island of Jeju, on June 16-18. The multilateral lender now counts 80 states and territories as its members, outstripping the members

    June 22, 2017 10:00 am JST
  • Matthew Busch

    Vietnam turns on diplomatic charm in Washington

    Vietnamese Prime Minister Nguyen Xuan Phuc's recent visit to the U.S. surprised many observers, as the leader of a small, lower middle income, communist country became the first Southeast Asian leader to visit President Donald Trump's Washington. Be

    June 22, 2017 09:00 am JST
  • In high-level talks, U.S. asks China to do more to rein in North Korea

    WASHINGTON(Reuters) -- The United States pressed China to exert more economic and diplomatic pressure on North Korea to help rein in its nuclear and missile programs during a round of high-level talks in Washington on Wednesday.The meeting of top U.

    June 22, 2017 08:08 am JST
  • China needs to exert 'much greater pressure' on North Korea, says US

    WASHINGTON (AP) -- The United States said Wednesday that China has a responsibility to exert much greater pressure on North Korea to prevent escalating tensions with a government that ignores the law and "provokes and provokes and provokes."U.S. dip

    June 22, 2017 06:44 am JST
  • Rio Tinto taps Yancoal for Australian coal assets over Glencore

    SYDNEY -- Australian-British mining multinational Rio Tinto has decided to sell its steam coal-producing subsidiary Coal & Allied to China's Yancoal Australia, the company announced Tuesday, turning down a last-minute bid from Swiss commodity trader

    June 22, 2017 06:29 am JST
  • Chinese investor to buy 60% share of Parma

    MILAN (Reuters) -- Chinese businessman Jiang Lizhang has agreed to buy a 60 percent stake in Italian side Parma, who have just been promoted to the second tier, the club said on Wednesday.Parma also announced that former Argentina forward Hernan Cre

    June 22, 2017 06:16 am JST
  • Charter rates plunge 30% as iron ore prices sag

    TOKYO -- Falling iron ore prices have helped sink charter rates for bulk carrier vessels, as resource companies turn up the pressure on shippers to cut prices in an effort to prevent further drops in profitability.Average charter rates for benchmark

    June 22, 2017 04:27 am JST
  • China stock market warrants vigilance despite MSCI's go-ahead

    HONG KONG -- The announcement on Tuesday that Chinese domestic equities, or so-called A-shares, would be admitted into MSCI's major index is undoubtedly a significant event, with an implication that major tracker funds from around the globe will now

    June 22, 2017 01:58 am JST