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Archive Asia Economy

  • BADEN-BADEN, Germany— The world's top economic powers dropped a pledge to oppose trade protectionism amid pushback from the Trump administration, which wants trade to more clearly benefit American companies and workers. Finance ministers from the Group of 20 countries meeting in the southern German town of Baden-Baden issued a statement Saturday that...

  • BADEN-BADEN- European Central Bank Board Member Benoit Coeure and ECB President Mario Draghi will participate in G20 Finance and Central Bank Deputies meeting in Baden-Baden. BRUSSELS- European Central Bank Board Member Benoit Coeure will participate in Eurogroup meeting in Brussels, Belgium. NEW YORK- Chicago Fed President Charles Evans to speak before...

  • MOSCOW- Central Bank of Russia Deputy Governor Vasily Pozdyshev will hold a presentation of new banking legislation- 0800 GMT. CANBERRA- Reserve Bank of Australia Assistant Governor Luci Ellis to speak at the ACT Launch of the Women in Economics Network. WARSAW- National Bank of Poland monetary policy council meeting.

  • BADEN-BADEN- European Central Bank Board Member Benoit Coeure and ECB President Mario Draghi will participate in G20 Finance and Central Bank Deputies meeting in Baden-Baden. BRUSSELS- European Central Bank Board Member Benoit Coeure will participate in Eurogroup meeting in Brussels, Belgium. NEW YORK- Chicago Fed President Charles Evans to speak before...

  • NICOSIA, Cyprus— International agency Standard& Poors has raised Cyprus' credit grade a notch to BB+ on the expectation that the eastern Mediterranean island's economy will grow steadily over the next three years. S&P says that Cyprus' budget will show a small surplus over 2018-2020, pushing the country's large debt burden downward. Cyprus has been battling...

  • BADEN BADEN, Germany, March 17- The world's financial leaders will renounce competitive devaluations and warn against exchange rate volatility, a document showed on Friday, but are likely to struggle to find common ground on trade and financing against climate change. Finance ministers and central bank governors of the world's top 20 economies are meeting in...

  • *Aso, Mnuchin hold 1st face-to-face meeting. BADEN-BADEN, Germany, March 17- Japanese Finance Minister Taro Aso said he agreed with his U.S. counterpart Steven Mnuchin on the need to abide by the G7 and G20 agreements on currency policy, including a warning that excess currency volatility is undesirable. President Donald Trump has accused Japan of exploiting a...

  • BADEN-BADEN, Germany, March 17- Opposition from the United States, Saudi Arabia and others has forced Germany to drop a reference to financing programmes to combat climate change from the draft communique at a G20 finance and central bankers meeting. President Donald Trump, who took office in November, has called global warming a "hoax" concocted by China to hurt...

  • Treasury Secretary Steven Mnuchin headed into a tussle over free trade Friday at a summit that will help set the tone for the global economy. Angel Gurria, secretary-general of the Organization for Economic Cooperation and Development, downplayed differences over the exact language. He told The Associated Press it was "important to create a comfort zone"...

  • TOKYO— Asian markets were mixed Friday as investors awaited a meeting of finance and economic ministers of the Group of 20 industrial countries. KEEPING SCORE: Japan's benchmark Nikkei 225 edged down 0.4 percent to 19,521.47. Australia's S&P/ASX 200 added 0.2 percent to 5,795.20.

  • LONDON- Bank of England Chief Economist Andy Haldane gives lecture at London School of Economics- 1820 GMT. NEW YORK- Chicago Fed President Charles Evans to speak before the New York Association for Business Economics. WASHINGTON- Federal Reserve Deputy Director for Division of Bank Supervision and Regulation Maryann Hunter will attend American Bankers...

  • LONDON- Bank of England Chief Economist Andy Haldane gives lecture at London School of Economics- 1820 GMT. NEW YORK- Chicago Fed President Charles Evans to speak before the New York Association for Business Economics. WASHINGTON- Federal Reserve Deputy Director for Division of Bank Supervision and Regulation Maryann Hunter will attend American Bankers...

  • After a record-breaking year in 2015, the value of private equity deals in Asia Pacific fell 25.8 percent last year, a Bain & Company report showed.

  • During a visit to Berlin before a wider meeting with the finance chiefs of the Group of 20 economic powers, Steve Mnuchin said Thursday that "it is not our desire to get into trade wars." A Trump adviser had earlier this year accused Germany of benefiting from a weak euro that boosts its exports. Germany rejects the charge, saying it sells more abroad because its...

  • SHANGHAI, March 16- China's central bank raised short-term interest rates on Thursday in what economists said was a bid to stave off capital outflows and keep the yuan currency stable after the Federal Reserve raised U.S. rates overnight. The increase in rates was China's third in as many months, and came a day after the end of the annual session of parliament...

  • SHANGHAI, March 16- China's central bank raised short-term interest rates on Thursday in what economists said was a bid to stave off capital outflows and keep the yuan currency stable after the Federal Reserve raised U.S. rates overnight. The increase in rates was China's third in as many months, and came a day after the end of the annual session of parliament...

  • TOKYO, March 16- Bank of Japan Governor Haruhiko Kuroda said an uptick in inflation toward 1 percent won't immediately trigger an interest rate hike, signaling that Japan will stick to its ultra-easy policy even as other major economies eye withdrawing stimulus. Kuroda, who heads to Germany for a Group of 20 finance leaders' meeting this weekend, also echoed...

  • BEIJING— China's central bank raised short-term interest rates Thursday following the U.S. rate increase as Beijing tries to shore up the value of its currency and stanch an outflow of money. Beijing faces a dilemma as it tries to defend the exchange rate of its yuan without hurting economic growth, which has been shored up by repeated infusions of credit.

  • TOKYO— Japan's central bank opted Thursday to retain its ultra-lax monetary stimulus, citing U.S. policy changes as one of the risks for the global economic outlook. The Bank of Japan gave no indication it was leaning toward cutting back on the massive purchases of government bonds it is using to support the world's No. 3 economy by injecting hundreds of billions...

  • *China has moved to tighter policy bias as economy improves. SHANGHAI, March 16- China's central bank raised short-term interest rates on Thursday in what economists said was a bid to stave off capital outflows and keep the yuan currency stable after the Federal Reserve raised U.S. rates overnight. The increase in short-term rates was China's third in as many...

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