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Asia Economy

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  • KITTEH, Jordan— Fawziyeh Sharif and dozens of other young women who make jeans for the U.S. market in a factory in this village in northern Jordan consider themselves lucky— even though they spend 48 hours a week bent over sewing machines for minimum wage. The problem has been debated by regional decision-makers for years, but has taken on even greater urgency with...

  • TOKYO— Vying to keep pace with China's rising influence and economic clout, Japan plans to provide $110 billion to help develop roads, ports and other infrastructure in Asia in the next five years, Prime Minister Shinzo Abe said Thursday. "Asia has a voracious infrastructure demand, reaching as much as 100 trillion yen annually," Abe said, adding that "we should seek'...

  • Kyrgyzstan ratifies joining Russia-led trade bloc Thursday, 21 May 2015 | 6:40 AM ET

    BISHKEK, Kyrgyzstan— The Central Asian country of Kyrgyzstan has ratified a measure to join the Eurasian Economic Union, a Russia- led trade bloc. The country's entry must then be approved by the parliaments of the other members— Russia, Kazakhstan, Armenia and Belarus. Russia pushed hard for Ukraine to join the bloc, but opponents saw it as an attempt by Moscow to...

  • *PMIs point to 0.4 pct euro zone growth in Q2- Markit. *No signs of a Q2 pickup in Asia- HSBC. LONDON/ SYDNEY, May 21- Euro zone business growth was weaker than expected this month and factory activity in Asia's top two economies remained stuck in low gear, putting the onus squarely on the United States to drive a pick-up in global growth.

  • ULAN BATOR, May 21- Cash-strapped Mongolia's deal to expand the $6.5 billion Oyu Tolgoi mine is a big step towards stabilising its economy, but as it waits for the investment boost to feed through it is leaning on once-feared China to help shore up its finances. China helped Mongolia's central bank stave off economic collapse with a currency swap agreement to...

  • HONG KONG— Manufacturing in China shrank for the third straight month in May as demand remained soft, raising the chances of more stimulus to prop up growth in the world's No. 2 economy. Softer domestic and overseas demand and factory job cuts indicate that China's outsize manufacturing industry, which employs many millions of people, "may find it difficult to...

  • *Shanghai stocks focus on potential positives of weak China PMI. LONDON, May 21- World shares hovered near record highs on Thursday after downbeat Chinese manufacturing data put pressure on Beijing for more stimulus and the Federal Reserve signalled an increase in U.S. interest rates is still some way off. Top euro zone leaders will meet later in Latvia, where...

  • China manufacturing PMI falls again   Thursday, 21 May 2015 | 4:20 AM ET
    China manufacturing PMI falls again

    Rob Dobson, senior economist at Markit, says that China's latest manufacturing PMI data demonstrates that its stimulus measures aren't taking effect yet.

  • UPDATE 1-Hangzhou shows the way to China's new economy Thursday, 21 May 2015 | 2:17 AM ET

    *Zhejiang capital Hangzhou a high-tech and software sector. *Hangzhou is home to Alibaba, taxi app Kuaidi Dache. HANGZHOU, China, May 21- Signs that China's reforms may be paying off have sprung up in the eastern coastal city of Hangzhou, where a booming high-tech and software sector has fired up the local economy in defiance of a nationwide slowdown.

  • World stocks uneven after Chinese, eurozone data Thursday, 21 May 2015 | 1:53 AM ET

    TOKYO— World stock markets were lackluster Thursday after China's economy showed new signs of weakness but the Shanghai benchmark surged on hopes for more government stimulus. France's CAC 40 shed 0.4 percent to 5,112.55 and Germany's DAX dropped 0.6 percent to 11,774.01. Britain's FTSE 100 was little changed at 7,006.80.

  • *China factory activity contracts for third straight month in May. *No signs of a Q2 pickup in Asia- HSBC. The lacklustre performance in China and Japan, along with alarmingly weak export data from South Korea and Taiwan, put the burden of supporting global growth squarely on Europe and particularly the United States, which is struggling to get back on track after a...

  • *HSBC flash PMI signals persistent weakness in economy. The poor reading, which followed a raft of downbeat April data, reinforced analysts' views that Beijing has to take bolder steps to combat a protracted slowdown, as growth threatens to drop below 7 percent for the first time since the global financial crisis. The preliminary HSBC/ Markit Purchasing Managers'...

  • SINGAPORE, May 21- London copper futures edged higher on Thursday, bouncing off the previous session's three-week low after another soft Chinese manufacturing report suggested Beijing may have to do more to stimulate the world's No. 2 economy. Three-month copper on the London Metal Exchange was up half a percent at $6,253.50 a tonne by 0219 GMT, after touching...

  • HONG KONG— Manufacturing in China shrank for the third straight month in May as demand remained soft, raising the chances of more stimulus to prop up growth in the world's No. 2 economy. Softer domestic and overseas demand and factory job cuts indicate that China's outsize manufacturing industry, which employs many millions of people, "may find it difficult to...

  • Hangzhou signals China's reforms may pay off Wednesday, 20 May 2015 | 8:26 PM ET
    The CBD skyline of Hangzhou, China.

    Signs that China's reforms may be paying off have sprung up in Hangzhou, where a booming tech and software sector has fired up the local economy.

  • DIARY- Top Economic Events to June 3 Wednesday, 20 May 2015 | 8:01 PM ET

    SINTRA, Portugal- European Central Bank forum on central banking. Speakers:- ECB President Mario Draghi and board member Peter Praet, IMF Economic Counsellor Olivier Blanchard, BoE Governor Mark Carney, Central Bank of Mexico Governor Agustin Carstens, Central Bank of Ireland Governor Patrick Honohan, Organisation for Economic Co-operation and Development...

  • Is Indonesia inflating a credit bubble? Wednesday, 20 May 2015 | 7:17 PM ET
    An employee of BNI bank, an Indonesian state-owned bank, prepares rupiah banknotes for their ATMs and branch offices.

    Stories that begin with central banks easing bank lending requirements don't often end happily, but Indonesia may dodge creating a credit bubble.

  • Watch out for a wave of equity issuance in China   Wednesday, 20 May 2015 | 6:43 PM ET
    Bad is good for China markets

    A wave of equity issuance may cap the market's upside moving forward, but it could also play to the benefit of bond holders, says Michael Kelly, managing director, global head of Asset Allocation at Pinebridge Investments.

  • ULAN BATOR, May 21- Cash-strapped Mongolia's deal to expand the $6.5 billion Oyu Tolgoi mine is a big step towards stabilising its economy, but as it waits for the investment boost to feed through it is leaning on once-feared China to help shore up its finances. China helped Mongolia's central bank stave off economic collapse with a currency swap agreement to...

  • Hangzhou shows the way to China's new economy Wednesday, 20 May 2015 | 5:00 PM ET

    *Zhejiang capital Hangzhou a high-tech and software sector. *Hangzhou is home to Alibaba, taxi app Kuaidi Dache. HANGZHOU, China, May 21- Signs that China's reforms may be paying off have sprung up in the eastern coastal city of Hangzhou, where a booming high-tech and software sector has fired up the local economy in defiance of a nationwide slowdown.

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