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Asia Economy

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  • BEIJING, March 1- Activity in China's factory sector contracted for a second straight month in February on unsteady exports and slowing investment, an official survey showed on Sunday, reinforcing bets that more policy loosening is needed to lift the economy. Accounting for 48 percent of China's $10.2 trillion economy last year, the services sector has...

  • BEIJING, Feb 28- China's central bank cut interest rates on Saturday, just days before the annual meeting of the country's parliament, in the latest effort to support the world's second-largest economy as its momentum slows and deflation risks rise. "The focus of the interest rate cut is to keep real interest rate levels suitable for fundamental trends in...

  • BEIJING, Feb 28- China's central bank said on Saturday it would cut benchmark interest rates by 25 basis points to 5.35 percent, a widely expected move as the world's second largest economy continues to show signs of weakness despite previous easing measures. "The focus of the interest rate cut is to keep real interest rate levels suitable for fundamental trends...

  • China's central bank cuts rates again to boost economy Saturday, 28 Feb 2015 | 5:46 AM ET

    BEIJING— China's central bank cut interest rates for the second time in three months Saturday, adding to signs the country's leaders are worried the economic slowdown is deepening too sharply. The People's Bank of China announced a rate cut on one-year loans by commercial banks by 0.25 percentage point to 5.35 percent. Last year, China's economic growth fell to...

  • NEW DELHI— India's finance minister announced the government's new budget on Saturday, promising a slew of measures that attempt to balance welfare spending with high economic growth and infrastructure development, while vowing to keep a tight control on the fiscal deficit. "The credibility of India's economy has been re-established," Jaitley told...

  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. "India is about to take off," Jaitley, 62, said early in his speech to lawmakers. "The world is predicting that this is India's...

  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. "The world is predicting that this is India's chance to fly." Reaping the benefits of low global prices for oil, India's main...

  • A prime opportunity to turbo-charge our economy Friday, 27 Feb 2015 | 4:23 PM ET
    Vern Buchanan Meets with Japanese Foreign Minister Fumio Kishida

    Here's a prime opportunity to turbo-charge our economy, says Rep. Vern Buchanan, a House Ways and Means member, who just returned from Asia.

  • Business events scheduled for the coming week Friday, 27 Feb 2015 | 1:26 PM ET

    WASHINGTON— Commerce Department releases personal income and spending for January, 8:30 a.m. Eastern; Institute for Supply Management releases its manufacturing index for February, 10 a.m.; Commerce Department releases construction spending for January, 10 a.m.. WASHINGTON— Labor Department releases weekly jobless claims, 8:30 a.m.; Labor Department...

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT / 11:00 a.m. ET Friday, 27 Feb 2015 | 11:37 AM ET

    WASHINGTON- U.S. economic growth brakes more sharply than initially thought in the fourth quarter as businesses slow their pace of stock accumulation and the trade deficit widens, but the underlying fundamentals remain solid. CHICAGO- Moody's Investors Service cuts Chicago's already-weak credit rating one notch to Baa2, citing the city's growing costs...

  • Business events scheduled for the coming month Friday, 27 Feb 2015 | 11:24 AM ET

    WASHINGTON— Commerce Department releases personal income and spending for January, 8:30 a.m. Eastern; Institute for Supply Management releases its manufacturing index for February, 10 a.m.; Commerce Department releases construction spending for January, 10 a.m.. WASHINGTON— Labor Department releases weekly jobless claims, 8:30 a.m.; Labor Department...

  • February proved to be a strong month for U.S. stocks, even though it ended in downbeat fashion. It also brought the Nasdaq composite within striking distance of its March 2000 high. But the S&P 500' s 5.5 percent performance marked its best monthly increase since October 2011, and a turnaround from its 3.1 percent slide in January.

  • The world’s most spectacular stock exchanges Friday, 27 Feb 2015 | 7:19 AM ET

    The world’s stock exchanges are a frenzy for trading activity. Ahead of the Global Financial Market Forum, we look at some of the most spectacular.

  • Indian PM to unveil new budget  Friday, 27 Feb 2015 | 5:20 AM ET

    Geoff Dennis, head of GEM equity strategy at UBS, discusses the importance of Indian Prime Minister, Narendra Modi's forthcoming budget.

  • NEW DELHI— A government report says India's economy will grow more than 8 percent in the upcoming financial year and appears to have shaken off its persistent problems of high inflation, rising budget deficits and poor domestic demand. The Economic Survey, an annual report on the state of Asia's third-largest economy, said Friday that India appeared to have hit...

  • BEIJING— Global stocks were lackluster Friday after Japan reported mixed economic data and investors waited for revised U.S. growth figures. KEEPING SCORE: In early trading, France's CAC-40 was little changed at 4,911.03 and Germany's DAX gained 0.05 percent to 11,332.45. Britain's FTSE 100 was steady at 6,949.04.

  • TOKYO— Japanese factories churned out more machinery and electronic devices in January as export shipments rose, but lower energy costs due to cheaper crude oil failed to provide a boost to consumer spending. The tax hike snatched the wind from the sails of the recovery Prime Minister Shinzo Abe has sought to nurture by massive monetary and fiscal stimulus.

  • TOKYO/ SINGAPORE, Feb 27- The dollar took a breather after surging to a one-month high against a basket of currencies the previous day as U.S. economic data and comments from Federal Reserve officials prompted investors to raise their bets on a rate increase. The euro edged up 0.1 percent to $1.1213, but remained not far from a one-month low of $1.1184 touched on...

  • HONG KONG, Feb 27- China's yuan fell to its lowest level against the dollar in more than two years on Friday, raising questions about whether the world's second-largest economy will devalue its currency to avert a sharper economic slowdown. With fears of a global currency war rising, all eyes in Asia are focused on what China will do as it grapples with inflation...

  • *Rest of Asia stocks sag after Wall St dips on sharp oil fall. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent after advancing to a five-month high on Wednesday. But shares in Australia and Hong Kong nudged higher.

Contact Asia Economy

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