Asia Top News and Analysis China

  • *It will take top spot among China's steelmakers. SHANGHAI, Sept 22- China's Baosteel Group will fully take over Wuhan Steel Group to create the world's second largest steelmaker after ArcelorMittal, as Beijing aims to increase the concentration level of the scattered industry. The new entity will be named China Baowu Steel Group, the Baosteel Group's listed...

  • BEIJING, Sept 22- China's forex regulator acknowledged that it has found Chinese firms and individuals moving assets overseas via mergers and acquisition deals, but officials said pressure on capital outflows is easing. "In the past year we found some Chinese firms and individuals moving assets overseas via outbound investment, this is certainly a key area of...

  • London's FTSE 100 advanced 0.5 percent to 6,866.30. On Wednesday, the CAC 40 climbed 0.8 percent, the DAX gained 0.7 percent and the FTSE rose 0.2 percent. Benchmarks in Taiwan, New Zealand and Indonesia also rose, while Singapore declined.

  • *Oman shipments at 837,396 mln bpd, up 37.9 pct. BEIJING, Sept 22- Russia reclaimed the top spot as China's largest crude oil exporter in August from Angola, customs data showed on Wednesday, reflecting stockpile building and increasing demand from independent refiners during the month. Russia was the biggest Chinese supplier for the first time since May after...

  • SHANGHAI, Sept 22- China's Baosteel Group will fully take over Wuhan Steel Group to create the world's second largest steelmaker after ArcelorMittal, as Beijing aims to increase the concentration level of the scattered industry. The new entity will be named China Baowu Steel Group, the Baosteel Group's listed units Bayi Iron& Steel and Baosteel Packaging said...

  • BEIJING, Sept 22- China will crack down on illegal activities to keep its foreign exchange markets stable, the country's forex regulator said on Thursday. Xu Weigang, an official with the State Administration of Foreign Exchange, made the comments during a regular news conference on forex regulations and policies in Beijing. Guo Song, another SAFE official, said...

  • DALIAN, China, Sept 22- China's steel demand is likely to drop for a third year in a row, an industry official said on Thursday, as mills in the world's top producer focus on reducing capacity. China's crude steel consumption slipped 1.9 percent over January to July and there may be a slight drop for the year, said Wang Liqun, vice chairman of the China Iron and Steel...

  • SHANGHAI, Sept 22- China's yuan eased on Thursday despite a broadly weaker dollar as investors bought the U.S. currency on the cheap after the U.S. Traders also shrugged off a higher mid-point rate set by the People's Bank of China, at 6.6513 per dollar- the strongest level since Aug.26, and firmer than the previous fix at 6.6738. "Many market participants believe the...

  • SHANGHAI, Sept 22- China and Hong Kong stocks rose sharply on Thursday, pacing gains in Asian markets, as the Federal Reserve's decision to keep interest rates unchanged eased investor anxiety. The rally also came after robust overnight gains on Wall Street, and followed a week of extremely low volatility in mainland stocks. Hong Kong stocks are heading for their...

  • BEIJING, Sept 22- Outbound direct investment by China's financial institutions rose 26 percent in 2015 to $24.4 billion, government data showed on Thursday. Outstanding ODI hit $165 billion at the end of 2015, up 30 percent from a year earlier, according to a report jointly issued by the Ministry of Commerce, the National Bureau of Statistics and the State...

  • A B-2 Stealth Bomber pulls up on the runway after landing at the Palmdale Aircraft Integration Center of Excellence in Palmdale, California.

    The breakthrough relies on a ghostly phenomenon that Albert Einstein dubbed "spooky action at a distance", the SCMP reports.

  • DALIAN, China, Sept 22- China's international commitment to cut its massive steel capacity has to result in a reduction in exports, an official from the World Steel Association said, as countries around the world scrutinise Beijing's progress tackling a chronic glut. While the world's biggest steel producer appears to be throwing more weight behind efforts to...

  • French Defence Minister Jean-Yves Le Drian (2nd L) and his Indian counterpart Manohar Parrikar (R) shake hands as they exchange intergovernmental agreements for the purchase of 36 Rafale jet fighters on January 25, 2016 in New Delhi, India.

    India, the world's biggest arms importer, had intended to buy 126 Rafale planes before several years worth of talks with Dassault broke down.

  • Commodities tomorrow:

    CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets.

  • China will open its door even wider to the outside world. " On Tuesday, Li spoke at a business dinner in New York and responded to complaints from foreign business leaders about restricted access to the Chinese market by saying that China was open to foreign investment, although some economic sectors were not yet mature. As an example of China's willingness to open...

  • WASHINGTON, Sept 21- China will need to keep improving the transparency of its exchange rate regime once its yuan achieves reserve status as part of the International Monetary Fund's currency basket on Oct. 1, IMF officials said on Wednesday. "Inclusion of the Chinese renminbi in the SDR basket is an important milestone in the process of China's global financial...

  • Chinese space station is falling to Earth

    A renowned Harvard astrophysicist says China may have lost control of its Tiangong-1.

  • WARSAW, Poland— Air China has started regular flights between Beijing and Warsaw, the first ever direct connection to Poland by any Asian airline. Poland's main airline, LOT, is already flying to Beijing and the number of passengers has been growing as business ties intensify. Warsaw's Chopin Airport wrote in a tweet Wednesday that Air China launched its service...

  • BEIJING, Sept 21- A parcel of land in China's southern manufacturing hub Dongguan sold for a record price after developers went into a bidding frenzy, the Shanghai Securities News reported on Wednesday, adding to worries the country's property market is at risk of overheating. A manufacturing hub in Guangdong province, second-tier city Dongguan has seen...

  • BEIJING, Sept 21- A parcel of land in China's southern manufacturing hub Dongguan sold for a record price after developers went into a bidding frenzy, the Shanghai Securities News reported on Wednesday, adding to worries the country's property market is at risk of overheating. A manufacturing hub in Guangdong province, second-tier city Dongguan has seen...