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Asia Economy

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  • SEOUL, Feb 1- South Korea's exports in January had a smaller fall than expected in annual terms, government estimates showed on Sunday, but the data fell short of quelling worries over global demand while imports were at a more than 5- year low. Exports in January edged down 0.4 percent from a year earlier to $45.37 billion, and imports dropped 11.0 percent to $39.84...

  • *Payout may total up to 70 billion riyals. DUBAI, Jan 31- A lavish payout to public employees ordered by Saudi Arabia's new King Salman will help to sustain the kingdom's consumer boom and reassure financial markets that the government is not slashing expenditure in the face of low oil prices. The announcement did not give a monetary figure, but Saudi Arabia's 860...

  • Corruption shakes up China's biggest private lender Saturday, 31 Jan 2015 | 5:27 AM ET

    China Minsheng Banking's president has resigned for personal reasons hours after several Chinese media outlets reported he was being investigated.

  • DIARY- Top Economic Events to Feb 12 Friday, 30 Jan 2015 | 7:01 PM ET

    SARASOTA, United States- Federal Reserve Bank of Atlanta Executive Vice President David Altig and Federal Reserve Bank of Dallas Senior Vice President Mine Yucel participate in "The Economic Outlook, Monetary Policy and Energy: Thoughts from Federal Reserve Research Directors" event hosted by the New College of Florida and the Global Interdependence...

  • Business events scheduled for the coming month Friday, 30 Jan 2015 | 1:35 PM ET

    WASHINGTON— Commerce Department releases personal income and spending for December, 8:30 a.m.; Institute for Supply Management releases its manufacturing index for January, 10 a.m.; Commerce Department releases construction spending for December, 10 a.m.. WASHINGTON— Commerce Department releases factory orders for December, 10 a.m.. TOKYO— Panasonic...

  • Business events scheduled for the coming week Friday, 30 Jan 2015 | 1:33 PM ET

    WASHINGTON— Commerce Department releases personal income and spending for December, 8:30 a.m.; Institute for Supply Management releases its manufacturing index for January, 10 a.m.; Commerce Department releases construction spending for December, 10 a.m.. WASHINGTON— Commerce Department releases factory orders for December, 10 a.m.. TOKYO— Panasonic...

  • ISTANBUL, Jan 30- The Turkish lira tumbled to a fresh record low against the dollar on Friday after a surprise Russian interest rate cut reinforced expectations that Turkey will ease monetary policy next week. Central bank governor Erdem Basci indicated on Tuesday that the bank could hold an extraordinary meeting as early as next Wednesday to discuss cutting...

  • The U.S. stock market capped a rough month Friday, delivering its third loss in five days and extending its declines for the year. "The real issue still is the confusion, the uncertainty around the speed of decline in oil prices and what that means, and the rise in the dollar and what that means for earnings," said Bob Doll, chief equity strategist at Nuveen Asset...

  • *Dec private consumption -0.7 pct m/m, investment +0.1 pct- c.bank. *Dec current account surplus a record high $5.52 bln. BANGKOK, Jan 30- Thailand's private consumption contracted in December and investment stalled, the latest evidence that the country's growth engines remain shaky and the economy is not back on track.

  • Asia: winners and losers of cheaper oil  Friday, 30 Jan 2015 | 12:20 AM ET

    Kim Eng Tan, Senior Director, Sovereign & International Public Finance Ratings, says the ongoing rout in oil markets will boost Thailand, South Korea and India, but weigh on oil exporter Malaysia.

  • TOKYO— Japan's industrial output edged higher in December, suggesting the world's third-largest economy may be turning the corner on a recession brought on by a hefty sales tax hike. Meanwhile, Japan's jobless rate dipped to 3.4 percent from 3.5 percent the month before. When the impact of a 2 percentage point increase in the sales tax in April is excluded,...

  • Don't worry about Japan's household spending  Thursday, 29 Jan 2015 | 7:12 PM ET

    Lower oil prices are a tax cut for Japan so it will only be a matter of time before the benefits show up in Japan's economic data, says Joe Zidle, Portfolio Strategist at Richard Bernstein Advisors.

  • RPT-Japan Dec core CPI rises 2.5 pct yr/yr Thursday, 29 Jan 2015 | 6:35 PM ET

    TOKYO, Jan 30- Japan's core consumer prices rose 2.5 percent in December from a year earlier, government data showed on Friday. The so-called core-core inflation index, which excludes food and energy prices and is similar to the core index used in the United States, rose 2.1 percent in the year to December. Core consumer prices in Tokyo, available a month before the...

  • Business events scheduled for the coming week Thursday, 29 Jan 2015 | 1:37 PM ET

    WASHINGTON— Commerce Department releases personal income and spending for December, 8:30 a.m.; Institute for Supply Management releases its manufacturing index for January, 10 a.m. Eastern; Commerce Department releases construction spending for December, 10 a.m.. WASHINGTON— Commerce Department releases factory orders for December, 10 a.m..

  • BEIJING— For years, Alibaba faced complaints it failed to stamp out sales of counterfeit goods on its e-commerce websites. Given the company's expanding role in China's state-dominated economy, "It's not a surprise that Alibaba finds itself under the spotlight in much the same way that many foreign firms have," said analyst Ben Cavender of the China Market...

  • *Greece concerns weigh on Europe, Athens stocks up. LONDON, Jan 29- European stocks slipped and the dollar strengthened on Thursday after the Federal Reserve took an upbeat view of the world's largest economy and signalled it was on track to raise interest rates this year. Greece, where an anti-austerity prime minister took over on Monday, also kept investors...

  • BANGKOK, Jan 29- Thailand's finance ministry again trimmed its growth forecasts for this year and the last on Thursday, when fresh factory output data provided more evidence that the economy remains wobbly. For 2014, whose full-year GDP growth rate will be announced on Feb. 16, the ministry reduced its projection to just 0.7 percent, from 1 percent in December.

  • HONG KONG, Jan 29- China's efforts to raise the global status of its currency are paying dividends, with the yuan breaking into the top five world payment currencies for the first time and offshore trading volumes catching up with those onshore. "Daily trading volume in CNH spot, forward and swap markets have already reached $30 billion, among which $10 billion is...

  • *2014 growth of 6.1 pct, second to China in Asia. MANILA, Jan 29- The Philippines rounded out 2014 as the fastest-growing economy in Asia after China, regaining momentum in the final quarter of the year on strong farm output and construction activity. "It validates our view that the most aggressive policy stance of the BSP based on our analysis for this year will be to...

  • MANILA, Philippines— A Philippine official says the country no longer deserves to be branded the "sick man of Asia" after its economy grew more than 6 percent for a third consecutive year. Hampered by natural disasters, growth of the $300 billion economy slowed to 6.1 percent in 2014, but still outpaced most other countries in Asia, officials said Thursday.

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