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Asia Economy

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  • JAKARTA, Oct 26- Indonesia's new president on Sunday named professional technocrats to lead the top economic ministries and implement much-needed reforms that address costly fuel subsidies, cooling investment and creaky infrastructure in Southeast Asia's biggest economy. President Joko Widodo named a 34- member cabinet in which 18 were seen as...

  • JAKARTA, Oct 26- Indonesian President Joko Widodo on Sunday assigned professional technocrats to lead the top economic ministries and implement much-needed reforms that address costly fuel subsidies, cooling investment and the country's creaky infrastructure. Djalil and Brodjonegoro take the helm at a time when Indonesia faces strong economic...

  • Indonesia's new president unveils his Cabinet Sunday, 26 Oct 2014 | 7:06 AM ET

    JAKARTA, Indonesia— Indonesia's new president unveiled his Cabinet on Sunday, a compromise lineup featuring technocrats in key finance roles who will need to push painful reforms to fix the country's slowing economy, but also including politicians who supported his spectacular rise to power. Joko "Jokowi" Widodo, a 53- year-old former furniture salesman who...

  • JAKARTA, Oct 26- Indonesia's new president on Sunday appointed professional technocrats to lead the top economic ministries and implement much-needed reforms to deal with costly fuel subsidies, cooling investment and the country's creaky infrastructure. Joko Widodo unveiled a cabinet of 34 ministers that was filled with political appointees and...

  • S&P upgrades Cyprus on commitment to bailout deal Friday, 24 Oct 2014 | 12:36 PM ET

    NICOSIA, Cyprus— Rating agency Standard& Poor's gave Cyprus a pat on the back with a one notch upgrade to its credit grade, to B+, citing its commitment to the terms of its bailout program and better-than-expected economic growth. It hailed Cyprus' strong budgetary performance and projected a shallower recession this year. The agency said Friday that it expected...

  • *Factory output due Oct 29 at 8:50 a.m.. *CPI, jobs, household spending Oct 31 at 8:30 a.m.. TOKYO, Oct 24- Japanese factory output probably recovered in September, but only moderately, and consumer price inflation may have dipped, a Reuters poll showed, adding to uncertainty over whether the government will decide to raise the sales tax again next year.

  • Rapid UK economic growth slows slightly in 3rd quarter. LONDON- Britain's rapid economic recovery eased as expected during the third quarter, as services output growth slowed and manufacturing expanded at the weakest pace in 18 months, official data shows. BRUSSELS- France and Italy make fresh commitments to reform to persuade Germany and the European...

  • China's Fourth Plenum tightens rule of law Friday, 24 Oct 2014 | 4:22 AM ET

    China's top leaders wrapped up their four-day Fourth Plenum on Thursday, promising to enhance the rule of law in the world's second largest economy.

  • BANGALORE, Oct 24- Emerging Asia will contribute less to the global economy in 2015 than was expected just months ago as a slowdown in China drags on growth in the region, partially offset by acceleration in the United States, Reuters polls showed. Estimates for 2015 GDP growth were either cut or left unchanged for nine Asian countries in the latest poll of over 200...

  • *For poll data click on. BEIJING, Oct 24- China's economy is likely to grow at its slowest pace in 24 years this year and will cool further in 2015, weighed down by a cooling property sector and factory overcapacity and as top leaders push structural reforms, a Reuters poll showed. The median estimate from 41 analysts, most of whom are based outside of China, predicts...

  • BEIJING/ HONG KONG, Oct 24- Chinese home prices fell for a fifth straight month in September, wiping out gains scored in the past year and raising expectations the government will have to implement more economic support measures to cushion the blow. Only the southern city of Xiamen saw stable prices last month, National Bureau of Statistics data showed.

  • South Korea economic growth weakest in 5 quarters Friday, 24 Oct 2014 | 12:20 AM ET

    SEOUL, South Korea— South Korea's economic growth slowed to 3.2 percent in the third quarter, the lowest in five quarters, as weakness in exports and spending by companies offset the boost from government stimulus. On a quarter-to-quarter basis, South Korea's economy grew 0.9 percent, a slight pickup from the second quarter's 0.5 percent growth when the shock...

  • South Korea's economy expands 3.2 percent in 3Q Thursday, 23 Oct 2014 | 11:33 PM ET

    SEOUL, South Korea— South Korea's economic growth slowed to 3.2 percent in the third quarter, the lowest in five quarters, as weakness in exports and spending by companies offset the boost from government stimulus. The Bank of Korea said Friday that Asia's fourth-largest economy slowed from 3.5 percent growth in the April-June quarter. Capital expenditure...

  • SEOUL, Oct 24- South Korea's economic growth quickened in the third quarter as government and consumer spending rebounded, but exports were knocked by cooling global growth, a sign that more monetary easing may be required to sustain a fragile recovery. Underscoring the tenuous economic momentum, the Bank of Korea said a large part of the consumption uptick was...

  • SEOUL, Oct 24- South Korea's economic growth quickened in the third quarter led by private consumption and construction spending, but quarterly exports declined for the first time in a year in a sign of cooling global growth that should keep the door open for more monetary easing. The economy grew a seasonally adjusted 0.9 percent in the July-September quarter...

  • FOREX-Risk-on trade pulls dollar higher Thursday, 23 Oct 2014 | 11:42 AM ET

    *U.S. leading economic indicators better than expected. *German and eurozone flash PMIs beat expectations. NEW YORK, Oct 23- The dollar rallied on Thursday as investors plowed cash back into riskier asset classes, with an underpinning of promising data from the United States and better-than-expected manufacturing data in Europe and China.

  • LONDON/ BEIJING/ NEW YORK, Oct 23- Euro zone businesses performed much better than forecasters expected this month and China's vast factory sector grew a shade faster, but U.S. manufacturing activity sputtered to its slowest since July, underscoring the uneven nature of the post-crisis global economy. The improvement in purchasing managers' surveys in Europe...

  • LONDON, Oct 23- The euro recovered from a two-week low against the dollar on Thursday after data showed euro zone business growth unexpectedly picked up in October, though gains could be fleeting amid continued expectations of more monetary easing. The euro rose to $1.2662, rebounding from a two-week low of $1.2614 hit after data showed France's preliminary...

  • *China October PMI at 3- month high of 50.4- HSBC/ Markit. *OPEC should cut output by at least 500,000 bpd- Libya. China's manufacturing activity quickened to a three-month high in October, with the HSBC/ Markit manufacturing purchasing managers' index rising to 50.4 from 50.2 in September.

  • India picks up pace on economic overhaul Thursday, 23 Oct 2014 | 2:18 AM ET

    NEW DELHI— After months of criticism for not moving aggressively enough on promises of an economic overhaul, India's new prime minister has announced a string of policies designed to kick-start Asia's third-largest economy. Over the past week, Prime Minister Narendra Modi has unveiled an overhaul of India's archaic labor laws, freed diesel prices from state...

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