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Asia-Pacific News Australasia

  • SEOUL, June 26- Oil prices rose 1 percent early on Monday on a weaker dollar, but an increase in U.S. drilling activity stoked worries that a global supply glut will persist despite an OPEC- led effort to curb output. Global benchmark Brent crude futures were trading up 45 cents, or 1.0 percent, at $45.99 per barrel at 0623 GMT. I suspect short covering, "said Ric Spooner,...

  • LAUNCESTON, Australia, June 26- Here's a question for the anti-coal lobby. Rio's mines in the Hunter Valley north of Sydney are attractive to both Glencore and China's Yancoal because they are likely to be profitable for the remaining life of the pits, which is expected to be around 20 years. They also have existing customers for the high quality thermal coal used...

  • SYDNEY, June 26- A recent slowdown in U.S. inflation was mainly due to one-off factors and should not prevent further increases in interest rates, a top U.S. central banker said on Monday. Speaking to reporters before a speech in Sydney, San Francisco Federal Reserve Bank President John Williams said three rate rises this year and three to four next year would be...

  • Nineteen defendants, including three Australians from the sales and marketing team of Australia's Crown Resorts Ltd., were convicted by the court in Shanghai. Three defendants, who had been released on bail last Nov. 11, were not fined or sentenced to prison, Crown Resorts said. The case against Crown Resorts' staff came as authorities crack down on gambling as...

  • SHANGHAI, June 26- A Chinese court handed short jail terms to three Australian employees of Crown Resorts Ltd in a quick-fire trial following a lengthy probe into how the firm lured Chinese high-rollers to its casinos. The Australian consul general in Shanghai told reporters at the Baoshan District Court that Crown's head of international VIP gambling Jason...

  • SHANGHAI, June 26- A Chinese court sentenced three Australian employees of casino operator Crown Resorts Ltd to short jail terms on Monday, an Australian diplomat said, but they will have little time left to serve as the sentences run from the date of their detention last October. The embassy official said Crown's head of international VIP gambling Jason...

  • BEIJING— Asian markets rose Monday after Wall Street rebounded from losses to end the week higher on stronger oil and natural gas prices. Seoul's Kospi gained 0.3 percent to 2,386.69 and Taiwan also rose. Markets in India, Singapore, Malaysia and Indonesia were closed for a holiday.

  • SHANGHAI, June 26- Three Australians went on trial in China on Monday along with a dozen other Crown Resorts Ltd employees and former employees accused of gambling crimes, following a lengthy probe into how the firm lured Chinese high-rollers to its casinos. Crown does not directly run casinos in China. China has been cracking down on attempts by casinos to woo...

  • SEOUL, June 26- Oil prices rose more than 1 percent early on Monday on a weaker dollar, but another rise in U.S. drilling activity stoked worries that a global supply glut will persist despite an OPEC- led effort to curb output. Brent crude futures were up 50 cents, or 1.1 percent, at $46.04 per barrel at 0215 GMT. I suspect short covering, "said Ric Spooner, chief market...

  • SHANGHAI— Australian and Chinese casino employees stood trial Monday on charges relating to gambling, which is illegal in mainland China, in a case that highlights the sensitivity of doing certain businesses in China. Three Australians from the sales and marketing team of Australia's Crown Resorts Ltd. were among the 19 listed for trial on suspicion of...

  • MONDAY, JUNE 26 ULTIMO, NEW SOUTH WALES, Australia- Federal Reserve Bank of San Francisco President John Williams speaks on "Speed Limits and Stall Speeds: Fostering Sustainable Growth in the United States" before the University of Technology Sydney Seminar- 0510 GMT. SYDNEY, Australia- Federal Reserve Bank of San Francisco President John Williams speaks on "The...

  • *Plans new overseas offices in Sydney, Luxembourg next year. CMB is planning to open new private banking offices in Sydney and Luxembourg next year, and Los Angeles, London and Vancouver over the next two-three years, Wang Jinggeneral manger of CMB's private banking department told Reuters. China's sixth-largest lender by assets already has a private banking...

  • ULTIMO, NEW SOUTH WALES, Australia- Federal Reserve Bank of San Francisco President John Williams speaks on "Speed Limits and Stall Speeds: Fostering Sustainable Growth in the United States" before the University of Technology Sydney Seminar- 0510 GMT. SYDNEY, Australia- Federal Reserve Bank of San Francisco President John Williams speaks on "The Global Growth...

  • WELLINGTON, June 22- New Zealand's central bank on Thursday played down the recent rise in the New Zealand dollar and shrugged off weaker economic growth at the start of the year, as it kept interest rates steady at record lows for a fourth consecutive rate review. New Zealand has been among the best-performing advanced economies in recent years.

  • "We're looking at better weather in the Midwest- that's been the big driver," said Price Futures Group broker Jack Scoville. CBOT July soybean futures eased 12 cents to $9.06-1/ 2 per bushel, the lowest since March 2016. CBOT July corn was down 5-1/ 4 cents at $3.63-1/ 2 per bushel and CBOT July wheat was off 3-1/ 4 cents to $4.61-1/ 4 at 12:45 p.m. CDT.

  • *Egypt tender to put focus back on export competition. PARIS/ SINGAPORE, June 22- Chicago wheat futures slid for a second session on Thursday as the market consolidated below a one-year high earlier this week, with traders awaiting further signs of damage from unfavorable weather in U.S. and European wheat belts. The most-active wheat contract on the Chicago...

  • SYDNEY, June 22- An Australian state imposed a surprise tax on the country's five biggest banks, a move that comes on top of a new $4.6 billion federal levy- prompting predictions that other states could follow suit and howls of outrage from the sector. South Australia, the country's fifth-largest state by population, announced a tax worth a combined A $370 million...

  • *Asia ex- Japan rises 0.6 pct; Nikkei slips on stronger yen. Britain's FTSE 100, Germany's DAX and France's CAC 40 all slipped 0.3-0.4 percent as trading in Europe got under way. "As far as the market mentality is concerned, as long as the oil price keeps weakening, this is going to tell us something about the underlying capacity of the global economy to generate...

  • *Asia ex- Japan rises 0.6 pct; Nikkei slips on stronger yen. European stocks were mixed with financial spreadbetter CMC Markets expecting Britain's FTSE 100 to open up 0.1 percent, Germany's DAX to be little changed and France's CAC 40 to start the day down 0.1 percent. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.7 percent.

  • SINGAPORE, June 22- Chicago wheat futures slid for a second session on Thursday as the market took a breather after climbing to a one-year high earlier this week, with traders pausing to assess damage from unfavourable weather across the United States and Europe. The most-active wheat contract on the Chicago Board of Trade had declined 0.4 percent to $4.62-1/ 2 a...