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Asia Top News and Analysis China


  • MUMBAI, Oct 8- India's main stock index fell for a second straight session on Monday, marking its biggest daily fall since July 27, as profit-taking, coupled with business outlook concerns, hit recent outperformers such as Reliance Industries.

  • PARIS, Oct 8- The outlook for the world's major economies including the United States and Germany has deteriorated slightly, although China may be stabilising after a recent slowdown, the OECD said on Monday.

  • *Plan could see Fnac spin-off or initial public offering. By Pascale Denis and Astrid Wendlandt. PARIS, Oct 8- France's PPR will exit its declining Fnac music and book retailer to focus on its more profitable luxury and sports brands, such as Gucci and Puma, a source familiar with the matter said on Monday.

  • *Oil dips below $112 as World Bank cuts Asian growth outlook. Several big companies, including FedEx and Hewlett-Packard, have issued profit warnings before the earnings season which starts on Tuesday.

  • NEW YORK, Oct 8- At 68, Barbara Miller Elegbede is living proof that flower children need not grow up. A self-described hippie, she attended a San Francisco college at psychedelia's height and remembers friends constantly crashing on the couch of her apartment, just a block away from Janis Joplin's pad in the hip Castro neighborhood.

  • *China, U.S. data mildly positive; IMF to cut growth estimates.

  • *World Bank says China economic slowdown could get worse. The World Bank on Monday cut its economic growth forecasts for East Asia and the Pacific region, home to two of the world's largest oil consumers, and said there was a risk the slowdown in China could be deeper and more prolonged than expected.

  • Europe stocks down as global growth woes intensify Monday, 8 Oct 2012 | 6:46 AM ET

    PARIS-- Europe's stock markets fell Monday on concern about the global economy ahead of a two-day meeting of its finance ministers and a cut in the World Bank's growth forecasts for Asia. Investors continue to worry over protests in Spain and IMF concerns over Greece.

  • SINGAPORE, Oct 8- The Asian naphtha price was at a two-session low of $957.50 a tonne on Monday on lower Brent crude, while the intermonth premium fell to a two-week low of $11.50 a tonne on muted spot purchases from petrochemical makers.

  • LONDON, Oct 8- The South African rand plunged to a new 3-1/ 2 year low against the dollar as the worst bout of labour unrest since the end of apartheid rattles the market, while growth worries weighed on broader emerging markets. The rand tumbled 2.4 percent, extending losses chalked up on Friday when Anglo American Platinum.

  • Abu Dhabi bank plans aggressive expansion in Asia Monday, 8 Oct 2012 | 6:41 AM ET

    KUALA LUMPUR, Malaysia-- The National Bank of Abu Dhabi launched its commercial banking operations in Malaysia on Monday, and will also debut in Shanghai this week as part of its expansion in Asia.

  • *China's telecom gear makers pose potential risk- panel draft. WASHINGTON/ HONG KONG, Oct 8- China's top telecoms gear makers should be shut out of the U.S. market as potential Chinese state influence on them poses a security threat, the U.S. House of Representatives' Intelligence Committee said in a draft of a report to be released on Monday.

  • LONDON, Oct 8- Terra Firma, the private equity group led by high-profile dealmaker Guy Hands, is planning a fund of up to $5 billion with China Development Bank.

  • HONG KONG, Oct 8- The divergence between the yuan's official midpoint fixing and spot rate due to its expanded trading band will shift more business to the offshore yuan deliverable market from the non-deliverable forward market due to a need to hedge exposure, Standard Chartered Bank said on Monday.

  • China art auctioneers face off with foreign rivals Monday, 8 Oct 2012 | 5:56 AM ET

    HONG KONG-- Chinese and international auction houses are encroaching on each other's territory in Hong Kong and Beijing for the first time this autumn sale season as they step up the battle for the Asian art market. China Guardian Auctions Co. held a small sale of Chinese ink paintings, calligraphy and furniture last weekend in Hong Kong.

  • KUALA LUMPUR, Oct 8- The National Bank of Abu Dhabi, the second-largest bank in the United Arab Emirates by assets, plans to triple its contribution from Islamic banking by introducing sharia-compliant services in Egypt, Oman and Malaysia.

  • UAE bank plans aggressive expansion in Asia Monday, 8 Oct 2012 | 5:49 AM ET

    KUALA LUMPUR, Malaysia-- The National Bank of Abu Dhabi has launched its commercial banking operations in Malaysia and will debut in Shanghai this week as part of its expansion in Asia.

  • Taiwan exports up 10 percent in September Monday, 8 Oct 2012 | 5:32 AM ET

    TAIPEI, Taiwan-- Taiwan's exports rose 10 percent from a year earlier in September to $27 billion, ending a streak of six consecutive monthly declines. The Finance Ministry said Monday that Southeast Asia has shown its economic strength by buying $5.4 billion worth of Taiwanese goods in the month, up 41 percent from a year earlier.

  • *World Bank says China economic slowdown could get worse. LONDON, Oct 8- Brent crude oil fell below $111 per barrel on Monday on concerns slower economic growth would curb oil demand, but supply worries stemming from tension in the Middle East helped check losses.

  • TAIPEI, Oct 8- Taiwan's exports rose more than expected in September after six straight months of declines, buoyed by demand for new electronics products ahead of the year-end shopping season, with the key U.S. and China markets returning to growth.