Asia Top News and Analysis China

  • *Yuan opens at strong-side limit of trading band. SHANGHAI, Oct 26- China's central bank reined in the yuan's appreciation on Friday as the currency hit a record high and bumped against the upper limit of its trading band for the second straight day.

  • Germany's economy, which was worth a little under 2.6 trillion last year, in comparison with the U.S.' s 12 trillion, has seen two consecutive years of robust growth. But the Economy Ministry last week cut its growth forecast for 2013 to 1 percent from 1.6 percent, though increased this year's outlook slightly from 0.7 percent to 0.8 percent.

  • BEIJING, Oct 26- China's largely rubber stamp parliament has expelled disgraced former senior politician Bo Xilai, state news agency Xinhua said on Friday, paving the way for formal criminal charges to be laid against him.

  • Why China’s Bank Earnings Could Surprise Investors

    Bank of China, the country’s fourth-largest lender by market value, defied expectations and beat consensus estimates for its third-quarter earnings on Thursday amid concerns that the sector is hurting from a slowing economy. Now, some analysts say pessimism about the sector may be overblown and that the lender’s numbers may be a sign of things to come for its peers.

  • BEIJING, Oct 26- China's largely rubber stamp parliament has expelled disgraced former senior politician Bo Xilai, state news agency Xinhua said on Friday, paving the way for formal criminal charges to be laid against him. Xinhua said the Standing Committee of the National People's Congress, China's parliament, ``announced the termination of Bo Xilai's post''.

  • TOKYO, Oct 26- Japan's cabinet approved a 422.6 billion yen economic stimulus package of subsidies and tax grants on Friday that will tap budget reserves to avoid selling new debt.

  • TOKYO-- Toyota sold 7.4 million vehicles around the world in the first nine months of the year, up 28 percent from a year earlier, but its strong growth faces headwinds from a sales plunge in China that could unseat it as the world's top automaker.

  • BEIJING-- Chinese investors evaded government controls to move more than $600 billion out of the country last year and the outflow is increasing, fueling economic and political risks as communist leaders prepare for a handover of power, a Washington- based monitoring group says.

  • NEW YORK-- Wal-Mart Stores Inc. announced the completion of its increased investment in a fast-growing Chinese company, as the world's largest retailer looks to broaden its access to a rapidly growing customer base.

  • WASHINGTON-- The government's snapshot Friday of the U.S. economy's growth will be its last before Americans choose a president in 11 days. And it would give Mitt Romney's team evidence to argue that the economy is growing at an unacceptably subpar pace. "We are stuck in this half-speed growth mode," said David Wyss, an economics professor at Brown University.

  • *BOJ seen cutting econ forecasts, easing on Oct. 30. TOKYO, Oct 26- Japan's core consumer prices fell for the fifth straight month in the year to September, showing the economy remained mired in deflation and keeping the pressure on the central bank to do more to achieve its inflation target.

  • *Capital investment falls on weak Europe, China demand. SEOUL, Oct 26- South Korea's economic growth almost halted in the third quarter as hesitant and indebted consumers were unable to make up for steep spending cuts by companies on declining exports to Europe and China.

  • WASHINGTON, Oct 25- China has lost $3.79 trillion over the past decade in money smuggled out of the country, a massive amount that could weaken its economy and create instability, according to a new report.

  • TOKYO, Oct 26- Japan's Nikkei share average is expected to rise on Friday, supported by expectations of significant easing by the Bank of Japan, while investors appear to have priced in cuts to profit forecasts in the current earnings season.

  • BEIJING-- Bank of China Ltd., one of the country's four main state-owned banks, says its quarterly profit rose 17 percent despite an economic slowdown and interest rate reforms. The bank said it earned 34.8 billion yuan in the three months ending Sept. 30, up from 29.8 billion yuan a year ago.

  • SEOUL, Oct 26- South Korea's economy grew by 0.2 percent in the July-September period over the previous three-month period, the central bank's advance estimates showed on Friday, roughly in line with the market's consensus forecast.

  • TOKYO-- Japan's Cabinet approved a 423 billion yen economic stimulus package on Friday, moving to fend off recession as the recovery in the world's third biggest economy falters. Japan's economy has remained in the doldrums for over 20 years and a hoped-for export-led recovery has been stymied by the European crisis and slowing growth in China and elsewhere.

  • *Saudi Arabia, U.S., Iraq and Libya pump more; consumption wanes. *Iran exports may have seen small bounce since July plunge.

  • China's Current Business Conditions Look Positive: MNI

    Phillip Day, Asia News Editor, MNI discusses the mixed message sent on China's business sentiment. He says that the country's business conditions continue to improve and explains why expectations for the overall conditions in the next 3 months fell.

  • RIO DE JANEIRO, Oct 25- Brazilian mining company Vale SA plans to sell underperforming assets to control costs and boost profit, executives said on Thursday, a day after reporting weak earnings and halting work on a giant iron ore mine in the West African nation of Guinea.