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  • Willem H. Buiter

    The case for getting rid of high-denomination bank notes

    I previously discussed the merits of going cashless to enable central banks, including the Bank of Japan, to set interest rates at more negative levels. While that may not happen any time soon, eliminating large denomination paper currency notes --

    December 4, 2017 11:30 am JST
  • Apple's Tim Cook says developers have earned $17 bln from China App Store

    WUZHEN, China (Reuters) -- Apple Inc's chief executive Tim Cook said developers using its platform in China number 1.8 million and have earned a total 112 billion yuan ($16.93 billion), representing roughly a quarter of total global App Store earnin

    December 4, 2017 09:12 am JST
  • Chinese police detain 11 over deadly Tianjin skyscraper fire

    BEIJING (Reuters) -- Chinese police have detained 11 people in connection with a deadly skyscraper fire in the northern port city of Tianjin, the municipal government said on Sunday, after an investigation found numerous fire code violations.The bla

    December 4, 2017 08:22 am JST
  • China up close

    Communist China's third era: 2012 to 2035?

    TOKYO -- To the casual China watcher, what took place in October might look like a lot of pageantry. A once-every-five-years "national congress" of the Chinese Communist Party was held. On the opening day, the party's general secretary and the count

    December 4, 2017 08:00 am JST
  • William Pesek

    Odds of a Trump trade war just increased

    Donald Trump's administration last week invoked powers no White House has in a quarter century -- and did so to probe Chinese aluminum imports.Normally, the Commerce Department reacts to specific complaints by U.S. companies. Initiating an anti-dump

    December 4, 2017 07:00 am JST
  • Chipmaker Renesas adding to electric-vehicle team in China

    BEIJING -- Renesas Electronics plans to double its team of chip developers for the Chinese market to 100 staffers in two years, with an emphasis on applications for electric vehicles and the "internet of things."The Tokyo-based chipmaker has roughly

    December 4, 2017 03:42 am JST
  • Taiwan conglomerate plans $15bn worth of projects in US

    TAIPEI -- Formosa Plastics Group, Taiwan's largest petrochemical producer, is aggressively expanding how much it invests in the U.S., where it has $14.4 billion worth of projects underway. The Taipei-based conglomerate earlier this month sold a 2% o

    December 3, 2017 09:19 am JST
  • China signs up local talent to hit national soccer goals

    SHANGHAI -- China's 2018 soccer season is likely to see a continued slide in spending on high-profile foreign players as clubs focus more on developing local talent, with the ultimate aim of making the country an international force in the game.Chin

    December 2, 2017 09:37 pm JST
  • China airs 'strong dissatisfaction' over U.S statement to WTO - Xinhua

    SHANGHAI(Reuters) -- China's Ministry of Commerce (MOFCOM) has expressed "strong dissatisfaction and firm opposition" to a statement by the United States to the World Trade Organization (WTO) that it opposes granting China market economy status, Xin

    December 2, 2017 08:49 pm JST
  • Chinese cash fuels gambling boom in Cambodian backwater

    SIHANOUKVILLE, Cambodia -- This southern coastal city is ringing to the sound of construction.Chinese characters festoon supermarkets, shopfronts and tour agencies. Casinos have multiplied over the past year, towering awkwardly behind Sihanoukville'

    December 2, 2017 02:19 pm JST
  • Machinery and elevator demand lifting Hitachi in China

    GUANGZHOU-- Hitachi's Chinese sales are expected to climb well above 1 trillion yen ($8.9 billion) in the year through this coming March, supported by a sound economy and a recovering construction machinery business, according to President Toshiaki

    December 2, 2017 08:13 am JST
  • China cracks down on online micro-lending firms with new rules

    BEIJING (Reuters) -- China's financial regulators on Friday circulated new rules to local governments targeting fast-growing online micro-lenders, part of a campaign to rein in a rapidly developing financial sector.Under the new rules, unlicensed or

    December 2, 2017 05:29 am JST
  • Myanmar and China to cooperate on economic corridor

    YANGON -- Myanmar and China agreed Friday to build an economic corridor between the two countries, furthering Naypyitaw's efforts to strengthen ties with Beijing as criticism over the Rohingya refugee crisis pushes it away from the West.The idea was

    December 2, 2017 01:49 am JST
  • Carmakers FAW, Dongfeng, Changan move closer to merging

    BEIJING -- Three major Chinese state-owned automakers signed a strategic partnership agreement on Friday, a move seen as another step toward an eventual merger.FAW Group, Dongfeng Motor and Chongqing Changan Automobile will collaborate on four areas

    December 2, 2017 01:26 am JST
  • Xiaomi enters Thailand amid plans for 2,000 stores globally

    BANGKOK -- In November, Thai buyers thronging Bangkok's Seacon Square Bangkae shopping mall were surprised to find a handset store with a logo they had never seen before -- Xiaomi.It was the second Mi store launched by the leading Chinese smartphone

    December 1, 2017 10:40 pm JST
  • Nikkei Asia300 Index edges lower as Tencent extends losses

    MUMBAI (NewsRise) -- Asian stocks outside of Japan retreated Friday, as heavyweight Tencent Holdings extended losses and a private survey showed China's manufacturing activity weakened last month.The Nikkei Asia300 Index dropped 0.6% to 1,373.25. Fo

    December 1, 2017 08:31 pm JST
  • Hong Kong stocks suffer worst week this year

    HONG KONG (Nikkei Markets) -- Hong Kong shares on Friday posted their biggest weekly loss this year, with Tencent Holdings and other index heavyweights sliding on worries they may have risen too much too fast, while some mainland Chinese companies l

    December 1, 2017 07:48 pm JST
  • Former CEO back at helm of troubled Kumho Tire

    SEOUL -- South Korea's Kumho Tire on Friday appointed the company's former chief executive as its new chairman and CEO, giving him another chance to tackle the tire maker's heavy debts and put it back on track.Kumho's shareholders, at an extraordina

    December 1, 2017 07:39 pm JST
  • Missile test furthers India's push for Indian Ocean supremacy

    NEW DELHI -- India's recent test of a supersonic cruise missile is a strategic game-changer in the Indian Ocean, giving New Delhi the ability to hit targets as far away as the Strait of Malacca.The move continues a military buildup aimed at defendin

    December 1, 2017 04:00 pm JST
  • Hong Kong shares slip in choppy trade as Tencent slides

    HONG KONG (Nikkei Markets) -- Hong Kong shares edged lower in a choppy morning session on Friday as lingering weakness in heavyweight Tencent Holdings overshadowed positive overnight cues from Wall Street.The Hang Seng Index had fallen 0.1% to 29,13

    December 1, 2017 02:16 pm JST