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China weakens yuan fixing to lowest since 2011

China’s central bank weakened its currency fixing to the lowest since March 2011 as the dollar strengthened.The reference rate was lowered by 0.3 percent to 6.5693 per dollar. A gauge of the dollar’s strength rose to a two-month high Tuesday as traders boosted wagers that U.S. interest r...

Updated : 2016.05.25 14:35

China criticizes U.S. steel anti-dumping measures

BEIJING (AP) -- China has criticized U.S. anti-dumping penalties imposed on Chinese steel amid mounting complaints Beijing is exporting at improperly low prices to clear a backlog at home.The Commerce Ministry complained Wednesday that the duties of 522 percent announced on cold-rolled ste...

Updated : 2016.05.19 15:13

Fed: June hike likely if economy picks up

WASHINGTON (AP) -- Catching many investors off guard, the Federal Reserve made clear Wednesday that an interest rate hike in June is likely if the economy keeps improving.The minutes of their most recent meeting in late April showed that Fed officials widely felt it would be time to raise ...

Updated : 2016.05.19 15:10

Dollar rallies on US interest rate hike talk

TOKYO (AFP) - The dollar rallied broadly in Asia on Wednesday as a string of US economic data and bullish commentary from two Federal Reserve policymakers spurred talk of a US interest rate hike.The greenback surged against emerging market currencies as investors ran for cover after overni...

Updated : 2016.05.18 14:41

Elephant in room at G7 is sure to be yen

When finance chiefs and central bankers from the Group of Seven countries gather this week at a hot springs resort in northern Japan, the official agenda has them focusing on ways to revitalize global growth and crack down on cross-border tax evasion.Left off the discussion list is one of ...

Updated : 2016.05.18 14:41

Asian markets mostly higher, Buffett Apple move boosts techs

HONG KONG (AFP) -- Most Asian markets climbed Tuesday, as tech firms were boosted by Warren Buffett's billion-dollar stake in Apple, while energy stocks tracked further gains in oil prices.After last week’s sell-off, U.S. investors provided a blistering lead Monday with all three main ind...

Updated : 2016.05.18 14:40

Oil at fresh 2016 highs on hopes of supply glut easing

SINGAPORE (AFP) -- Oil rose to fresh 2016 highs in Asia Monday as a slowdown in U.S. drilling and increase in Chinese crude refinery processing bolstered hopes a supply glut would ease sooner than expected.U.S. oilfield services firm Baker Hughes said the number of U.S. drilling rigs fell ...

Updated : 2016.05.16 14:08

[Newsmaker] Maduro cracks down with emergency decree

Venezuelan President Nicolas Maduro announced a sweeping crackdown Saturday under a new emergency decree, ordering the seizure of paralyzed factories, the arrest of their owners and military exercises...

Updated : 2016.05.15 18:15

China’s economy grinds down a gear as heavy industry drags

China's economy resumed its grind toward slower growth in April, weighed by overcapacity industries such as steel and coal.Industrial production climbed 6 percent in April from a year earlier, down from 6.8 percent in March and missing economists' estimates for 6.5 percent. Retail sales al...

Updated : 2016.05.14 16:09

Japan PM to delay tax hike over economy fears: report

Japanese Prime Minister Shinzo Abe plans to postpone a sales tax hike a second time, judging that boosting the tariff could hurt the world's third-largest economy, a newspaper said Saturday.Abe has already informed senior government officials he plans delay the consumption tax hike, schedu...

Updated : 2016.05.14 12:22

Fed officials signal markets may be wrong to doubt June hike

Two regional Federal Reserve presidents said that an interest rate increase should be on the table next month, pushing back against market expectations that the U.S. central bank will keep policy on hold for a fourth consecutive meeting.Atlanta Fed chief Dennis Lockhart and San Francisco’...

Updated : 2016.05.04 14:27

Xi's Silk Road dream hits a speed-bump in Thailand

President Xi Jinping is so devoted to his Silk Road project for China to deepen economic ties across Asia that he recently had top Communist officials attend a "study" session on the millennia-old history of the route.References to the initiative, launched by Xi in 2013 and known as the "b...

Updated : 2016.05.04 14:25

Yen rally eases after Tokyo hints at intervention

The yen's soaring rally took a breather in Asian trading Monday after Japanese finance minister Taro Aso warned over the surge, vowing to take action "when necessary".The weekend remarks hinted at a possible market intervention in the wake of the Bank of Japan's shock policy decision last ...

Updated : 2016.05.02 14:43

Aso says Japan will take action with currency if needed: Nikkei

Japanese Finance Minister Taro Aso said that one-sided speculative movements in the dollar-yen rate are “extremely concerning,” the Nikkei newspaper reported Sunday.Japan will carefully watch currency markets to ensure speculation doesn’t continue and will take action as may be necessar...

Updated : 2016.05.01 21:10

Eurozone economic growth rate unexpectedly doubles

The eurozone economy has finally recouped all the ground lost in the recessions of the past eight years after official figures Friday showed that the 19-country single currency bloc expanded by a quar...

Updated : 2016.04.29 20:24