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Asia Top News and Analysis China

  • Oct 9- Standard& Poor's Ratings Services said on Tuesday it expected state and local governments in the United States to grow less in 2013 than previously forecast. State and local public employment has fallen 3.2 percent since peaking in August 2008, representing "a source of drag on growth prospects," S&P said.

  • AMSTERDAM-- World stock markets fell Tuesday on a gloomy forecast from the IMF and worries over Europe's debt crisis ahead of the start of earnings season.

  • *Solar panel makers have also filed action in Europe against Chinese manufacturers. WASHINGTON/ LOS ANGELES, Oct 8- The U.S. Commerce Department on Wednesday will announce final duties on billions of dollars of solar panels from China in a high-profile case that has raised fears of further damage to an already fragile industry.

  • *Azeri Nov exports to rise, Iraq cuts OSP for Europe. In the Platts window, BP bid in the Baltic for an Oct 22-26 Urals cargo at dated Brent minus $1.30 a barrel, some 30 cents stronger than on Monday, and Exxon bid for an Oct 20-24 cargo at dated Brent minus $1.35, traders said.

  • *China- Japan relations rocked by island dispute. BEIJING, Oct 9- China's delegation to the annual meetings of the IMF and the World Bank in Tokyo will not be led by its most senior finance officials, a report from state news agency Xinhua said on Tuesday, in what looked like a deliberate snub of Japan.

  • LONDON, Oct 9- West African crude oil differentials were under pressure again on Tuesday, as talk that Unipec resold unwanted Angolan cargoes highlighted the limited demand in China. *Qua Iboe: Seen trading around the $2.10 level, little changed from the day before, but below the $2.10 to $2.50 range seen on Friday.

  • By Agnieszka Barteczko and Maciej Onoszko. WARSAW, Oct 9- Would-be investors in ZE PAK, eyeing jittery financial markets and the Polish utility's ageing plants, are likely to drive a hard bargain in a flotation which may not achieve a market value much above 1.5 billion zlotys.

  • *Rio cautious on impact of China stimulus. *Optimistic on China power supply for Mongolia copper mine. LONDON, Oct 9- Global miner Rio Tinto said on Tuesday it would step up cost cuts because of an uncertain near-term outlook that includes lower growth this year in China, the world's largest consumer of key commodities.

  • LONDON, Oct 9- European shares fell in thin trade on Tuesday as gloomy economic data and corporate reports set the backdrop for a tough start to the third-quarter reporting season in the United States.

  • *Growth, Greece worries stoke safety bids for bonds. NEW YORK, Oct 9- U.S. Treasuries prices rose on Tuesday in advance of a three-year debt sale as safe-haven bids for bonds emerged on anxiety about weak global growth and Greece's ability to meet the terms of a bailout.

  • Indexes fell on Wall Street as investors reacted to another weak forecast on the global economy and ahead of the traditional start of earnings season: results from Alcoa, the aluminum maker and economic bellwether, which come out after the closing bell.

  • NEW YORK-- U.S. companies are continuing to cut back on employee travel plans amid uncertainty surrounding the health of the economy. Americans are expected to take 438.1 million business trips this year, down 2 percent from last year, the Global Business Travel Association said Tuesday.

  • BEIJING-- Air China delayed two of its Beijing- bound flights to perform security checks Tuesday after it received threats shortly before they were scheduled to take off. The threats came a day after a China Southern Airlines flight made an emergency landing in Gansu province's Lanzhou city after it received a false terror threat.

  • LONDON, Oct 9- Gold prices trimmed their losses on Tuesday, but stayed under pressure as concerns over the euro zone's peripheral economies sent the euro to session lows versus the dollar.

  • Meanwhile, comments by the International Monetary Fund on the global economy "provide a gloomy backdrop" for the day, said Monument Securities analyst Marc Ostwald. After a weak session Monday, Wall Street opened slightly lower again, with the Dow Jones Industrial index down 0.1 percent to 13,565.45, and the S&P 500 down 0.1 percent at 1,454.61.

  • LONDON, Oct 9- Oil rose over $113 a barrel on Tuesday after two days of losses, with tensions in the Middle East and the risk of supply disruptions outweighing concerns about sluggish global demand.

  • Oct 9- India's mobile phone subscriber base declined by 5.13 million in August, the second straight monthly fall, as carriers in the world's second-biggest wireless market continued to disconnect inactive users in a clean-up drive. China, the world's biggest mobile phone market, had 1.07 billion mobile subscribers in August.

  • SINGAPORE/ BEIJING, Oct 9- China's Sinopec has started work to build Southeast Asia's largest oil storage terminal at Indonesia's Batam Free Trade Zone, industry sources said on Tuesday. Industry sources said the project was originally planned as a joint-venture between the Chinese refiner and OilTanking, a unit of the privately held Marquard& Bahls.

  • LONDON, Oct 9- Oil rose to around $113 a barrel on Tuesday after two days of losses, with tensions in the Middle East and the risk of supply disruptions outweighing concerns about sluggish global demand.

  • *Fed to buy $1.75 bln to $2.25 bln in long-dated debt. Treasuries prices rose on Tuesday in advance of a three-year debt sale as safe-haven bids for bonds emerged on anxiety about weak global growth and Greece's ability to meet the terms of a bailout.