Latest Asia Business News
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ASIA CREDIT CLOSE Nikkei rout adds push to credit sell-off
Thu May 23, 2013 4:43am EDT SINGAPORE, May 23 (IFR) - A sell-off in Asian credit gained momentum after the Japanese stock market suffered a steep drop this afternoon. Investment-grade credits were already some 2bp wider in the morning as investors digested the content of Fed chairman Ben Bernanke's testimony last night to the US Congress. However, after lunch a 7.5%-plus drop in the Nikkei ...
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My Car A classic Toyota Land Cruiser turns heads in the UAE
Growing up in Yemen and spending most of his childhood seeing the 1979 Toyota Land Cruiser FJ40, Max Stanton admits he always wanted one. "The first time I ever went into one of these cars, I went to an island called Socotra, in Yemen. I must have been about 10 at the time. We flew there and there was no proper airplane. We were there for the first time ever and we needed a car to drive us ...
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Travel news Enjoy the new Shangri-La Bosphorus or a cool early summer in Tibet
The Shangri-La Bosphorus has just opened in a converted 1930s tobacco warehouse on the European side of the Bosphorus in Istanbul. Its guestrooms range from 42- to 60-square-metres in size, most with river views; 17 suites have private terraces. Istanbul's Shangri-La has a Chi spa and a signature Chinese restaurant, Shang Palace, all of which will be familiar to Abu Dhabi's residents. ...
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European stock markets slide after Nikkei plunges 7 - live
The Markit Composite PMI, which measures activity across the German economy, came in at 49.9, up from 49.2 in April (where a 50-point reading separates expansion from contraction) German manufacturing output rose slightly, but was balanced out by a small drop in services. And France's private sector kept shrinking, with a composite PMI of 44.3 -- a long way from that 50-point ...
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Why Quantitative Easing Isnt Printing Money
but it's obvious from the comments I received that I did not clear up these misunderstandings. So I'd like to explain in a bit more detail why quantitative easing (QE) is not printing money and why bank reserves aren't money. Let's take a look at the balance sheets of the actors involved. Here's what the T-accounts for the balance sheets of each institution, showing the ...
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Asian Debt Beware of Bubbles
Gresik is a small industrial town of fewer than 100,000 people, just to the north of Indonesia's second-largest city, Surabaya in East Java. But its position is critical. It sits near the Lombok Strait, the second most important shipping gateway between the Indian Ocean and the South China Sea and the vital trade route for fuel and resources between China and Australia. That is why AKR ...
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Perfect Storm Sparks Massive Nikkei Sell-Off
A perfect storm of yen strength, a spike in Japanese government bond yields and new evidence of weakness in China's economy were behind a major sell-off Thursday in Japan's equity markets, said experts. The ...
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Japans Gain Isnt South Koreas Pain
South Korea's economic problems aren't made in Japan. That isn't the way it looks in the two rival exporters' stock markets. Investors convinced that Japan's weakening yen will help its companies claw global market-share back from Korean competitors have bought almost $75 billion worth of Japanese stocks so far this year. Part of that appears to have come at the expense ...
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MFs garner over Rs 70000 crore in FY13
mutual funds in 2012-13 after pulling out money money from such schemes in the preceding two years. Market participants believes that buoyant stock market and a slew of reform measures taken by the government as well as regulator Sebi (Securities and Exchange Board of India) have helped the investors to mobilise funds in mutual fund industry. As per the latest data available with Sebi, there was ...
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Rupee plunges to over 8-month low
Tim Cook’s congressional debut, following an appearance at Obama’s State of the Union address in Feb, shows the iPhone maker can no longer afford to keep the low profile in ...
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French shares decline tracking Nikkei loss
(31 mins ago) French share prices fell by 2.24 percent in initial trading on Thursday when confidence was hit by a fall of 7.32 percent on the Tokyo stock market. The Tokyo market had plunged in response to surprisingly weak figures for Chinese industrial activity, although sentiment had already been shaken by uncertainty over US monetary policy, AFP reports. The French CAC 40 index of ...
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Nikkei dives 7pc on profit taking
(1 hr 11 mins ago) Tokyo share prices plunged more than seven percent Thursday on record volumes as investors rushed to take profit following weak Chinese data and after months of climbing. The Nikkei 225 index at the Tokyo Stock Exchange closed down 7.32 percent, or 1,143.28 points, to 14,483.98, while the Topix index of all first-section issues was down 6.87 percent, or 87.69 points, at ...
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Nikkei falls over 7 | Sensex down over 300 pts | Live Blog
TOKYO: The Nikkei share average plunged 7.3 per cent on Thursday, its biggest one-day percentage drop in two years after weak Chinese factory data rattled investors, prompting them to take profits from a recent rally buoyed by massive Bank ...
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Euro Credit Nikkei caranage heralds volatile session
European credit markets are opening sharply lower on the back of an extremely volatile overnight session in Asia. As of 0645GMT according to Tradeweb, the iTraxx Main index is 4bp wider at 91.5bp having tightened to another new S19 and 3yr plus generic low of 87bp on the close yesterday. The Crossover index is 17bp wider at 386bp having traded down to the S19 low of 367bp last night, a level ...
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Seoul shares drop 1.2 pct Nikkei China PMI spark investor jitters
Thu May 23, 2013 3:28am EDT * Chinese PMI, Nikkei tumble spark investor worries * Telcos find favour as investors seek high-dividend issues * Crude oil, chemicals issues lead falls SEOUL, May 23 (Reuters) - South Korean shares dropped 1.2 percent on Thursday after a slide in Japanese stocks and weak Chinese factory data hit investor sentiment, with chemical makers and energy-linked shares ...
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Holden Toyota commit to Australia for now
The two car makers left standing following Ford's decision to get out have reaffirmed their commitment to Australia, for now at least.However the dominant view is that the Australian car manufacturing industry is dying, which is a grave worry for the automotive component suppliers that represent more employees than the big car makers.Ford posted a $141 million annual loss in Australia on ...
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Nikkei ends more than 7 down
Tokyo share prices plunged more than sevenper cent on Thursday on record volumes as investors rushed to take profit followingweak Chinese data and after months of ...
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Qantas Frequent Flyers to pay more for BA award flights
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Ranbaxy shares slump by 7
Last week, Ranbaxy pleaded guilty to felony charges related to drug safety and agreed to pay $500 million in civil and criminal fines under a settlement with the US Department of ...
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Sensex down 131 points in late morning deals
Members are registered users on Timesofindia.com. Only they are qualified to earn badges and points for their activities. So register and get a badge right ...
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Bank of Japan moves after key bond yield spikes
Sources said the provision would not only badly hit Indian IT cos, but also disrupt operational capabilities of a large number of key US cos as ...
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Nikkei futures trade briefly halted cash Nikkei dives 6 pct
TOKYO | Thu May 23, 2013 1:48am EDT TOKYO May 23 (Reuters) - The Osaka Securities Exchange on Thursday briefly suspended trade in Nikkei futures due to a steep drop as investors took profits following a recent sharp rally, after weak Chinese factory activity rattled investors. The Nikkei share average slid as much as 6 percent to 14,682.05. The benchmark was last down 5.6 percent at ...
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Nikkei slumps 3.7 pct on weak China data 10-yr JGB prices turn higher
Reset TOKYO (May 23): Japan's Nikkei stock average tumbled 3.7 percent on Thursday, in a dramatic turnaround from a 5-1/2-year high hit in morning trade and was on track for its biggest daily drop in two years, as weak Chinese factory activity data rattled investors. The sharp turnover in the Japanese stock market prompted investors to seek safety in government bonds, with the ...
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Rupee at new 6-month low
The high current account deficit will persist as long as we live in a world of low growth - that hurts our exports - and easy global liquidity, which pumps up the oil import ...
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Sensex extends losses down by 85 pts
sensex today fell for the fourth consecutive day by losing nearly 85 points in early trade due to sustained selling by funds amid a weak trend in other Asian markets. The 30-share barometer, which had lost nearly 224 points in the previous three sessions fell further by 84.54 points, or 0.42 per cent, to 19,977.70. Stocks of capital goods, realty and power sectors were major losers, pulling down ...
Taiwan Focus
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Taiwan investing in biotech sector
Taiwan’s economy has seen massive growth in the last few decades, but one industry has been in decline and a development project by the Academia Sinica is expected to reverse that decline, once environmental issues have been cleared up.
Taiwan is one of the Four Asian Tigers; this little island off the coast of mainland China has experienced rapid development in just a few decades and has become a major hub of manufacturing, high-tech industry, shipping and tourism. Read more
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