Hanjin Shipping to begin creditor-led debt restructuring

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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

BoJ surprises as it holds off stimulus, delays inflation target

BoJ surprises as it holds off stimulus, delays inflation targetThe Bank of Japan shocked markets Thursday as it held fire on a fresh round of widely expected stimulus measures, sparking questions abou...

Updated : 2016.04.28 14:48

Saudi to sell less than 5% of Aramco, create $2 trillion fund

RIYADH (AFP) -- Saudi Arabia will sell shares in state oil giant Aramco and set up the world‘s largest wealth fund under a long-term economic reform plan, the deputy crown prince said Monday. Prince Mohammed bin Salman said the plan, dubbed “Saudi Vision 2030”, aimed to end the country...

Updated : 2016.04.25 21:23

Japan's next generation of farmers could be robots

As the average age of farmers globally creeps higher and retirement looms, Japan has a solution: robots and driver-less tractors.The Group-of-Seven agriculture ministers meet in Japan’s northern prefecture of Niigata this weekend for the first time in seven years to discuss how to meet in...

Updated : 2016.04.23 16:58

China property boost to GDP risks fading after debt-fueled rise

China’s expansion may face stronger headwinds this year should the debt-fueled boost from real estate, a key driver of recent economic growth, prove unsustainable.The economy grew 1.1 percent in the first quarter from the prior quarter, the slowest quarter-to-quarter expansion in data sin...

Updated : 2016.04.18 14:11

Oil meeting collapses without freeze

DOHA, Qatar (AP) -- A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output despite threats by Saudi Arabia.Oil prices, which hit a 12-year low in January by dipping ...

Updated : 2016.04.18 14:11

IMF sees $1.3 trillion in 'at-risk' Chinese company debt

The International Monetary Fund said Wednesday that corporate China's balance sheets have deteriorated to the point that some $1.3 trillion in borrowings is at risk of default.It said that the financial health of Chinese companies has declined as profitability has sunk amid slower economic...

Updated : 2016.04.14 14:31

China exports jump 11.5%

BEIJING (AFP) -- China's exports surged 11.5 percent year-on-year in March to $160.8 billion, authorities said Wednesday, in a positive sign for the world’s second-largest economy. Imports fell for the 17th consecutive month, dropping 7.6 percent on-year to $131 billion, Customs said, whi...

Updated : 2016.04.13 14:42

Asian markets track global surge on oil deal hope

HONG KONG (AFP) -- Energy firms led an Asian stock market rally Wednesday as a strong trade report from China and news of a deal between Russia and Saudi Arabia to limit oil output injected traders with much-needed optimism.The renewed confidence also saw the safe-haven yen retreat against...

Updated : 2016.04.13 14:42

Nomura to close Europe business, cut jobs

Nomura Holdings, Japan’s largest brokerage, said it will close certain businesses in Europe and “nationalize” parts of its operations in the Americas.Operations in Asia won’t be affected by the changes, the Tokyo-based securities firm said Tuesday in a statement. The firm will release ...

Updated : 2016.04.13 12:36

World Bank: China’s growth to ease to 6.7% in 2016

MANILA, Philippines (AP) -- China will remain the main driver of growth in Asia this year despite its prolonged slowdown, helped by sustained expansions in other developing countries in the region, the World Bank said Monday.The U.S.-led development bank forecasts that developing East Asia...

Updated : 2016.04.11 14:23