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South and Southeast Asia

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  • China says to reduce IPOs amid stock slump Friday, 3 Jul 2015 | 7:41 AM ET
    Investors look at computer screens showing stock information at a brokerage house in Shanghai.

    China will reduce the number of initial public offerings and the amount of capital raised from the equity markets, the stock regulator said.

  • But with the Iran six-power talks having devolved essentially into bilateral U.S.- Iran negotiations over the past year, his comments were clearly directed at the Americans, who have been the primary drivers of the crippling economic sanctions imposed on his country over its nuclear program. The West fears Iran could develop its nuclear program to make...

  • *1 MDB says never provided funds to Prime Minister Najib. KUALA LUMPUR, July 3- Malaysian Prime Minister Najib Razak slammed a report that said close to $700 million was wired to his personal account from banks, government agencies and companies linked to the debt-laden state fund 1 MDB, claiming this was a "continuation of political sabotage."

  • Aetna to buy Humana for $37 bln in cash and stock Friday, 3 Jul 2015 | 2:33 AM ET

    July 3- Health insurer Aetna Inc said it will buy Humana Inc for about $37 billion, or about $230 per share, in a cash-and-stock deal. Humana shareholders will receive $125 in cash and 0.8375 Aetna shares for each share held, an about 23 percent premium to the stock's closing price on Thursday. Following the deal, Aetna's shareholders would own about 74 percent of the...

  • KUALA LUMPUR, Malaysia— Malaysian Prime Minister Najib Razak on Friday denied news reports that $700 million were funneled from an indebted state investment fund into his personal accounts. The Wall Street Journal and the Sarawak Report online news portal reported that investigators have traced some $700 million wired into Najib's bank accounts.

  • Malaysia wants a tribunal for Malaysia Airlines crash Thursday, 2 Jul 2015 | 8:23 PM ET

    UNITED NATIONS— Malaysia told the U.N. Security Council on Thursday that it plans to submit a resolution soon that would establish an international tribunal to prosecute those responsible for shooting down a Malaysia Airlines plane over Ukraine last year. Ambassador Gerard van Bohemen, the current council president, told reporters after Malaysia's...

  • *Bangladesh beef prices up after border crackdown. GHOJADANGA, India/ DHAKA, July 3- Some 30,000 Indian soldiers guarding the border with Bangladesh have a new mandate under Prime Minister Narendra Modi's government this year- stop cattle from crossing illegally into the Muslim-majority neighbour. About 2 million head of cattle are smuggled into Bangladesh...

  • MOSCOW— A draft Dutch report into last year's crash of Malaysian Airlines Flight 17 in eastern Ukraine fails to offer a comprehensive picture, a Russian aviation official said Thursday. The Dutch Safety Board has made the draft available to representatives of Malaysia, Ukraine, the U.S., Russia, Britain, Australia and the Netherlands prior to the release of the...

  • NEW DELHI, July 2- India's oil imports from Iran fell by about 23 percent over January-June as refiners curtailed shipments in the early months of the year to keep volumes within the limits allowed under an interim nuclear deal in place since the end of 2013.. India shipped in 216,500 barrels per day of oil from Iran in the first six months of 2015 compared with...

  • CHENNAI, India, July 2- India's central bank is committed to steadily increasing how much government debt foreign investors can buy, but will proceed cautiously to avoid becoming too reliant on overseas capital, Governor Raghuram Rajan said on Thursday. Rajan added India would examine debt limits twice a year, hinting at a more formal decision-making process.

  • MUMBAI, India— Drivers of Mumbai's iconic horse-drawn carriages can't imagine not plying the roads pulling photo-snapping tourists atop their kitsch-covered chariots. Yet that time is coming, thanks to a court order calling such superfluous "joyrides" a form of animal cruelty and banning them in India's financial capital from June 2016.

  • *Index at 74.4 in June, lowest since May 2014; May was 75.6. BANGKOK, July 2- Thai consumer confidence slipped to a more than one-year low in June dampened by economic uncertainty, falling exports, low commodity prices and drought, a university survey showed on Thursday. The consumer confidence index of the University of the Thai Chamber of Commerce fell to 74.4 in...

  • NEW DELHI, July 2- For years Indian businesses have lobbied for a nationwide sales tax, hoping to replace a chaotic structure that inflates costs and halts their trucks at state borders for duty payments, and to unify the country into one of the world's largest single markets. India's top business groups are now calling for a slowdown in the process as they try to...

  • July 1- U.S. crude oil futures' discount to Brent, one of the biggest plays in oil, widened to more than $5 a barrel for the first time in three weeks on Wednesday after U.S. government data showed a surprise inventory build. "The bottom line is the overall U.S. stock build is weighing on heavily on WTI, and the Cushing build is adding to that," said Tariq Zahir, an oil trader and...

  • *Company to invest in producing Jeep in India. *India to be No. 3 car market by 2020- IHS Automotive. NEW DELHI, July 1- Fiat Chrysler will invest $280 million to begin Jeep production in India from 2017 through an expanded joint venture with Tata Motors, the carmaker said on Wednesday.

  • *OPEC output rises to three-year high. LONDON, July 1- Oil fell to trade further below $63 a barrel on Wednesday after U.S. crude inventories unexpectedly rose, the latest sign of a supply glut that may increase if Iran reaches a nuclear deal with world powers. "The oil market is being literally flooded with OPEC crude oil at present," said Carsten Fritsch, analyst at...

  • NEW DELHI— Toilets are taken for granted in the industrialized West, but still are a luxury for a third of the world's people who have no access to them, according to a report by the World Health Organization and UNICEF. With those benchmarks expiring this year, the United Nations is leading efforts to come up with a new set of "sustainable development goals" that are...

  • Sao Paulo city council takes first step to ban Uber Wednesday, 1 Jul 2015 | 8:03 AM ET

    SAO PAULO, July 1- The city council of Sao Paulo, South America's largest metropolis, voted to ban the U.S-based Uber ride-sharing service late Tuesday, the latest setback for the company after several countries took similar steps in recent months. "Uber defends the right of users to choose the way in which they move about the city," the company said in a statement...

  • POLL-Iran oil exports could jump by 60 pct in a year Wednesday, 1 Jul 2015 | 5:59 AM ET

    LONDON/ BENGALURU, July 1- Iran will increase its oil exports by up to 60 percent within a year if it can agree a nuclear deal with world powers bringing an end to sanctions, a Reuters survey of analysts said on Wednesday. A poll of 25 oil analysts from leading banks and brokerages forecast Iran would be able to raise crude oil output by between 250,000 and 500,000...

  • *Greece not able to repay 1.6 bln euros owed to IMF. *OPEC, U.S. output rises to multi-year highs. SINGAPORE, July 1- Oil prices fell over 1 percent on Wednesday after Greece became the first developed economy to default on a loan with the International Monetary Fund, and as both U.S. and OPEC production hit new records.