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South and Southeast Asia

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  • BANGKOK, May 28- Thai factory output tumbled more than expected in April, the latest evidence that the country's key economic engines remain wobbly and the junta is struggling to move the economy forward. With exports and domestic demand still weak, Southeast Asia's second-largest economy has not regained traction one year after the army took power to end...

  • Philippine economic growth slows to 5.2 percent in 1Q Thursday, 28 May 2015 | 12:28 AM ET

    MANILA, Philippines— Sluggish government spending slowed Philippine economic growth in the first quarter of this year, officials said Thursday. Decades of corruption in government, and vulnerability to natural disasters such as typhoons, have meant the Philippines lagged other Southeast Asian nations such as Thailand, Malaysia and Singapore in economic...

  • Experts involved in past deep water searches say the search to find MH370 could easily miss the plane as Dutch company Fugro NV, the firm at the forefront of the mission, is using inappropriate technology for some terrain and inexperienced personnel for the highly specialized task of hunting man-made objects. "Fugro is a big company but they don't have any...

  • May 27- Avago Technologies Ltd is close to an agreement to acquire fellow chipmaker Broadcom Corp, people familiar with the matter said on Wednesday, in a deal that could boost Avago's clientele of top-tier smartphone companies. A deal between Avago and Broadcom could come as early as this week, the people said, cautioning that the negotiations had not yet been...

  • NEW YORK, May 27- Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market ahead of U.S. inventory data. Other factors held little sway, including France's warning to Iran that it was ready to block a final deal on Tehran's nuclear program unless Iran provided full access to inspectors.

  • May 27- Toll Brothers Inc, the largest U.S. luxury homebuilder, reported a better-than-expected quarterly profit, helped by a lower tax provision. The market consists of Arizona, California, Colorado, Nevada and Washington. The company's shares fell as much as 3.7 percent to $35.63 on the New York Stock Exchange on Wednesday.

  • Germany lobbies India to buy Eurofighters, submarines Wednesday, 27 May 2015 | 8:31 AM ET

    NEW DELHI, May 27- Germany's defence minister held out the prospect of more talks on a possible sale of Eurofighter jets to India and, on a visit to New Delhi, said on Wednesday Berlin stood ready to back a multi-billion-dollar Indian submarine project. Germany has taken the lead in the sales pitch to India for the Eurofighter, made by Alenia Aermacchi, a subsidiary...

  • UPDATE 1-Homebuilder Toll Brothers profit beats estimates Wednesday, 27 May 2015 | 6:46 AM ET

    May 27- Toll Brothers Inc, the largest U.S. luxury homebuilder, reported a better-than-expected quarterly profit and raised the low end of its average selling price forecast for the full year as demand strengthens. The company raised the low end of its average selling price range to $730,000 from $725,000. Net income rose to $67.9 million, or 37 cents per share,...

  • KARACHI, Pakistan— A Pakistani judge ordered police Wednesday to hold and question the embattled CEO of a software company for a week on allegations he oversaw a global diploma mill, as broadcasters aired images of blank degrees stacked in his firm's offices. The judicial order marked the latest crisis for Shoaib Sheikh, the top official at Axact, a software...

  • SINGAPORE, May 27- India-focused Vedanta Resources Plc will aim to lift a court-imposed cap on its iron ore output in the country's top state for exporting the commodity, as it prepares to resume mining there in October after a three-year lull. A mining ban that had been in place in the state of Goa since September 2012 was lifted last year, but the resumption of...

  • HONG KONG, May 27- As revenue plummets at China's only legal gambling hub, global casino operators have a new mantra- what happens in Vegas, must also happen in Macau. The latter's two new resort projects, worth $3.2 billion, open in Macau later on Wednesday. As well as the mainland's crackdown, Macau's government is forcing casino firms, also including SJM Holdings...

  • May 26- A Connecticut venture capital executive accused of insider trading and of cheating his clients out of tens of millions of dollars has fled the country, the U.S. Securities and Exchange Commission said. Iftikar Ahmed, a former general partner at Oak Investment Partners, left the United States some time before May 18 in violation of a judge's order in the...

  • NEW DELHI— Four months after becoming prime minister, Narendra Modi stunned Indians by picking up a crude straw broom and, holding it like a dance partner, gently sweeping at a small pile of green leaves on a New Delhi street. As he passes one year in office, India is as filthy as it ever was with some of the world's most polluted air, rivers stinking with sewage and more...

  • Jason Rezaian, the Post's 39- year-old bureau chief in Tehran, is being tried in a Revolutionary Court on allegations of "espionage for the hostile government of the United States" and propaganda against the Islamic Republic, Iran's official IRNA news agency reported. Rezaian's brother, Ali Rezaian, later told The Associated Press in Washington that the...

  • COLUMN-LME zinc bulls get fooled again: Andy Home Tuesday, 26 May 2015 | 1:32 AM ET

    SINGAPORE, May 26- Appearances can be deceptive and never more so than when it comes to trading on the London Metal Exchange. Three-month metal was on a surge last month, powering up from a March low of $1,981.00 per tonne to an early May high of $2,404.50. Last week's delivery of 36,375 tonnes of zinc onto warrant at Johor in Malaysia blew away the tightness and sent...

  • Much of this equipment is likely to be used in and around the South China Sea, where Beijing's creation of artificial islands has alarmed some Asian countries and stoked tension between China's navy and the U.S. air force. The Philippines, Vietnam, Malaysia, Taiwan and Brunei also have overlapping claims. The interest in beefing up maritime capabilities was...

  • DHAKA, May 25- An IT manager at a subsidiary of Coca-Cola Co was one of two men arrested in Bangladesh on suspicion of planning to fight for Islamic State in Syria, police and company sources said on Monday. The pair were detained during a raid in the capital Dhaka on Sunday night, said Sheik Nazmul Alam, a senior official of the police detective branch.

  • CALGARY, Alberta, May 25- Crude oil futures rose on Monday as firm global demand offset a strong dollar, although a holiday in the United States and much of Europe kept trading muted. Front-month Brent crude gained 53 cents to $65.90 a barrel by 1750 GMT, after touching an intraday low of $64.72. The market drew support from figures showing strong demand across Asia...

  • JOHANNESBURG, May 25- South African fast-food restaurant group Famous Brands plans to enter Ghana this year as part of its drive to grow beyond a domestic market held back by high unemployment and sharply rising electricity costs. However the company, which runs Steers, Debonairs Pizza and Wimpy restaurants, said on Monday it was pulling out of India less than...

  • LONDON, May 25- Crude oil futures edged up on Monday as firm global demand vied with a strong dollar, but a public holiday in the United States and much of Europe kept trading muted. Front-month Brent crude gained 6 cents to $65.43 a barrel by 1400 GMT, after touching an intraday low of $64.72. The market drew support from figures showing strong demand across Asia and...