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Archive Asia Economy

  • WASHINGTON, March 30- The U.S. Commerce Department is launching a new review of whether China should be treated as a market economy country, a designation that would effectively limit the calculation of anti-dumping duties on China- made goods. The review comes as the White House prepares for the first face-to-face meeting between President Donald Trump and...

  • NEW YORK, March 30- Equities in world markets edged higher on Thursday, led by gains on Wall Street after an upward revision to U.S. economic growth, while U.S. crude oil rose to trade above $50 per barrel for the first time in three weeks. The euro slipped after data showed easing inflation in Spain and Germany, pushing back bets on tighter policy from the European...

  • It will be the first meeting between Xi and Trump, whose presidency began on Jan. 20, amid heightened tensions between the worlds two largest economies over issues including North Korea, the disputed South China Sea, Taiwan and trade. U.S. administration officials say the need for China to do more on North Korea, the large U.S. trade imbalance with China, and...

  • NEW YORK, March 30- Equities in key world markets edged higher on Thursday, led by gains on Wall Street after an upward revision to U.S. economic growth data, while U.S. crude rose to trade above $50 per barrel for the first time in three weeks. The euro slipped after data showed easing inflation in Spain and Germany, paring back bets on tighter policy from the European...

  • It will be the first meeting between Xi and Trump, whose presidency began on Jan. 20, amid heightened tensions between the worlds two largest economies over issues including North Korea, the disputed South China Sea, Taiwan and trade. U.S. administration officials say North Korea, the large U.S. trade imbalance with China and Beijing's pursuit of expansive claims...

  • BEIRUT— Lebanon's government has revealed the country's first budget in 12 years after discord and political paralysis had prevented politicians in past years from agreeing on a figure. Lebanon has a debt of about $74 billion. The situation worsened after Syria's crisis began in March 2011, with Lebanese groups backing rival sides in the conflict and the...

  • TOKYO, March 30- The dollar edged up to a nine-day high against a basket of currencies on Thursday, with the euro sagging as the European Central Bank showed no sign of stepping away from monetary easing anytime soon. The common currency had dropped about 0.5 percent overnight following a report by Reuters that European Central Bank policymakers were wary of...

  • TOKYO, March 30- The dollar hovered near a one-week high against a basket of currencies on Thursday, buoyed by a weaker euro which sagged as prospects of the European Central Bank stepping away from monetary easing faded. The common currency had dropped about 0.5 percent overnight following a report by Reuters that European Central Bank policymakers were wary...

  • Westinghouse Electric Co., the U.S. nuclear unit of Japan's Toshiba Corp., filed for bankruptcy protection Wednesday, calling into question the future of a number of billion-dollar nuclear projects under construction, including two in the U.S. But some older nuclear plants are being shuttered and the four nuclear reactors Westinghouse is helping to build in...

  • JAKARTA, Indonesia— France pledged $2.6 billion in investments for Indonesia and affirmed deepening ties with Southeast Asia's biggest economy during a visit Wednesday by President Francois Hollande. He said France is keen to boost the sale of Airbus jets to airlines in Indonesia, an archipelago of about 14,000 islands and more than 250 million people.

  • *Australia/ China economic ties grow with Premier Li visit. *China, Australia plug free-trade message after Trump dumps TTP. But growing trade ties are only one side of a delicate super-power balancing act for Australia, whose unshakeable security relationship with the United States and Western democratic values have limited how cozy it gets with China.

  • BANGKOK— Authorities in Thailand have escalated their effort to collect taxes they say are due from ousted Prime Minister Thaksin Shinawatra, posting a bill for 17.6 billion baht at the house where he lived before fleeing into exile in 2008 to avoid a prison term for conflict of interest. The Revenue Department acted Tuesday as part of a plan announced earlier...

  • Banks and other financial companies led U.S. stock indexes sharply higher Tuesday, snapping an eight-day losing streak for the Dow Jones industrial average. The rally was broad, with materials and industrial companies among the biggest gainers. Investor optimism that Congress and the White House are pivoting to tax cuts and other business-friendly policy...

  • AMMAN, Jordan— Jordan's state media say public and private sector officials from Saudi Arabia and Jordan have signed 15 economic agreements, including establishing a joint fund that will launch an estimated $3 billion worth of investments in Jordan. The Petra news agency says the agreements were signed after a meeting late Monday between Saudi King Salman...

  • *Tax on company cut to 50 percent from 85 percent. JEDDAH, Saudi Arabia/ RIYADH, March 28- Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest equity sale. A royal decree on Monday, retroactive to Jan. 1, set a tax rate of 50...

  • A worker stands on pipes at an offshore oil engineering company in Qingdao, in China's eastern Shandong province.

    The oil market is re-balancing but high inventories and U.S. output is offsetting an OPEC output cut and Asian demand growth, an IEA official said.

  • MORGANTOWN, United States- Federal Reserve Board Governor, Jerome Powell speaks on " America's Central Bank: This History and Structure of the Federal Reserve" before the West Virginia University College of Business and Economics Distinguished Speaker Series 2030 GMT. ONTARIO- Bank of Canada Governor, Stephen Poloz will give speech at Durham College, UOIT and...

  • MORGANTOWN, United States- Federal Reserve Board Governor, Jerome Powell speaks on " America's Central Bank: This History and Structure of the Federal Reserve" before the West Virginia University College of Business and Economics Distinguished Speaker Series 2030 GMT. ONTARIO- Bank of Canada Governor, Stephen Poloz will give speech at Durham College, UOIT and...

  • *Tax on company cut to 50 percent from 85 percent. JEDDAH, Saudi Arabia/ RIYADH, March 27- Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest equity sale. A royal decree on Monday, retroactive to Jan. 1, set a tax rate of 50...

  • RIYADH, Saudi Arabia— Saudi Arabia on Monday reduced the tax rate for Saudi Aramco as plans move forward to publicly list shares of the state-owned oil giant. The new code, rolled out by royal decree from King Salman, taxes Aramco at 50 percent on income retroactively starting Jan. 1. The government is preparing to list less than 5 percent of Aramco, possibly by next...

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