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South and Southeast Asia

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  • *Hyundai already has two plants in India, Kia has none. *Hyundai Motor is second-biggest automaker in India. After meeting Indian Prime Minister Narendra Modi in Seoul, the group's chairman, Chung Mong- koo, told reporters that a new plant in India was under review, according to a Hyundai spokesman.

  • JAKARTA, May 19- For Indonesia's second-largest state construction firm PT Wijaya Karya Tbk, the half-year since President Joko "Jokowi" Widodo took office with promises of a massive infrastructure push has been as much about waiting as it has been about building. Shares of Wijaya Karya, PT Waskita Karya Tbk, PT Adhi Karya Tbk and PT Pembangunan Perumahan Tbk now...

  • MANILA, Philippines— Robert de Niro and his business partners formally opened Asia's first Nobu Hotel in Manila on Monday as the luxury brand gears up for global expansion. De Niro and his Nobu Hospitality partners, renowned chef Nobu Matsuhisa and Hollywood producer Meir Teper, led the ribbon cutting with Australian billionaire James Packer and Macau tycoon...

  • BANGKOK, May 18- Thailand surprisingly reported quarterly growth for January-March, which economists attributed to changes in past data calculations and said the economy is still making little headway. "The momentum is still quite weak in Q1," said Santitarn Sathirathai, Singapore- based head of Southeast Asia economics for Credit Suisse.

  • *Prices up despite Iran saying OPEC output cuts unlikely. SINGAPORE, May 18- Oil prices edged up on Monday following fighting in Iraq and Yemen, but Iranian comments that OPEC was unlikely to cut output as well as signs of strengthening U.S. production capped gains. Prices were supported by concerns that conflict in Iraq and Yemen could disrupt supplies after...

  • *Prices up despite Iran saying OPEC output cuts unlikely. SINGAPORE, May 18- Oil prices rose on Monday on supply concerns in the Middle East following fighting in Iraq and Yemen, but Iranian comments that OPEC was unlikely to cut output as well as signs of strengthening U.S. production capped gains. Prices were supported by concerns that conflict in Iraq and Yemen...

  • *Iran still looking for OPEC "cooperation" on oil prices. Iran, along with Venezuela, has repeatedly called for OPEC to cut output to shore up low prices that have eaten into producers' oil revenues. Javadi's comments signal an admission that the group was unlikely to agree to a reduction, especially after its current strategy has succeeded in curbing non- OPEC...

  • KUALA LUMPUR, May 18- ConocoPhillips expects to maintain capital expenditure for the next three years, after reducing it earlier this year due to the oil price drop, Chief Executive Ryan Lance told Reuters on Monday. ConocoPhillips, like other exploration and production companies, has slashed capital spending in response to persistently lower oil prices, and...

  • *OPEC unlikely to cut output at June meeting. A recent framework deal on Iran's disputed nuclear programme between Tehran and world powers could see sanctions on Iran eventually lifted if a more permanent pact is finalised by a June deadline. Javadi said the OPEC producer expected to claw back lost market share in Asia.

  • KUALA LUMPUR, May 18- Iran hopes its crude oil exports will return to pre-sanctions levels within three months once a deal with major powers to lift an oil embargo is finalised, Iran's deputy oil minister said on Monday. "Yes, 2.5, around," he said on the sidelines of the Asia Oil and Gas Conference in Kuala Lumpur. A recent framework deal on Iran's disputed nuclear...

  • MANILA, Philippines— A factory where a fire killed 72 people violated employment laws, the Philippines' top labor official said Friday, as more witness reports emerged about the victims being trapped behind iron grill bars shouting for help. At least 104 workers at the Kentex Manufacturing Corp. were recruited by an illegal sub-contractor, Labor Secretary...

  • DUBAI, United Arab Emirates— No one onboard a Singapore- flagged commercial tanker that was fired on by an Iranian naval patrol in the Persian Gulf was injured and the ship did not sustain serious damage, the companies responsible for it said Friday. The tanker had been in international waters on its way from Bahrain to the port of Fujairah in the United Arab...

  • UPDATE 2-China, India pledge to cool border dispute Friday, 15 May 2015 | 2:48 AM ET

    BEIJING, May 15- China and India proposed measures on Friday to resolve a long-festering border dispute, as Beijing sought to clear obstacles to a relationship that it said could change the international political order. Tensions rose between China and India last year over the disputed border. India says China occupies 38,000 square km of its territory on the...

  • KUALA, LUMPUR, May 15- Malaysia's economy posted 5.6 percent growth in the first quarter, beating forecasts and just a tad slower than the previous quarter, as it showed resilience in the face of weak global prices for energy and commodity exports. After releasing the data, Bank Negara Malaysia's Governor Zeti Akhtar Aziz said the Southeast Asian economy was...

  • BEIJING— On his first visit to China as India's prime minister, Narendra Modi said Friday that two days of talks yielded progress on issues ranging from a yawning trade imbalance to their continuing border dispute. I asked China to reconsider its approach on some of the issues that hold us back on realizing the full potential of our partnership, "Modi said.

  • *April trade surplus $454 mln, vs $120 mln forecast. JAKARTA, May 15- Indonesia posted a trade surplus for the fifth straight month in April, but that stemmed from imports tumbling more quickly from a year earlier than exports did, showing that the economy remained sluggish at the start of the second quarter. The Statistics Bureau did not give an April breakdown, but...

  • SEOUL, May 15- South Korea's imports of Iranian crude fell 6.5 percent in April from a year ago, with its oil shipments from the OPEC country in the first four months of 2015 dropping nearly 14 percent year-on-year to meet international sanction requirements. South Korea and other Asian buyers can import crude form the Islamic nation at sanctions-reduced rates...

  • DIARY- Emerging Markets Economic Events to May 28 Thursday, 14 May 2015 | 8:02 PM ET

    Greek Prime Minister Alexis Tsipras, Finance Minister Yanis Varoufakis, Deputy Finance Minister Dimitris Mardas, Economy Minister George Stathakis, Chief Executive of the European Financial Stability Facility and Deputy Director at the European Department at International Monetary Fund Pul Thomsen are among keynote speakers. PRAGUE- The "History of...

  • From the start of the crop season last October through March, India's farm exports have fallen more than 11 percent to $15 billion, as the impact of the global commodities glut has been sharpened by events like Iran's nuclear talks and a currency dip in Brazil. "A perception is gaining ground that the government is slow in responding to the crisis in the...

  • Ranbaxy filed "grossly inadequate" applications seeking approval for its drugs and deceived the FDA into granting approvals and giving the company market exclusivity, the class action lawsuit asserts. The FDA has banned import of drugs from all of Ranbaxy's India- based plants under a wider scrutiny of the country's $15 billion pharmaceutical industry,...