Samsung Electronics said Monday it had made a key breakthrough in developing mobile technologies for so-called fifth-generation networks. The New York Times reports.» Read More
*Nokia announces mid-range $99 phone aimed at emerging markets. NEW DELHI, May 9- Nokia is betting low-priced phones with Internet capability will help it regain lost ground in crucial emerging markets after falling behind in the global smartphone race.
*Sony forecasts steady op profit of 230 bln yen for year to March 31. TOKYO, May 9- Sony Corp's bid for revival as a consumer electronics maker this business year will hinge on the fortunes of its latest smartphones, as it struggles with shrinking sales of its TVs, digital cameras and game consoles.
SEOUL, May 9- South Korea's central bank is expected to keep interest rates on hold at least for the rest of the year after a surprise cut on Thursday, but there is risk of another cut depending on the sustainability of the global economic recovery, a Reuters poll showed.
LAUNCESTON, Australia, May 9- Asia's refiners are likely to get some short-term relief on diesel and gasoline profits as exports dip from China, South Korea and India.
SEOUL, May 9- South Korea's central bank cut interest rates for the first time in seven months on Thursday, in a surprise move aimed at helping to maximise the government's stimulus efforts and ease pressure on exports from a strong won, especially against the yen.
BEIJING, May 9- China's annual consumer inflation rose by more than expected in April while factory prices fell for a 14th consecutive month, highlighting the dilemma facing the central bank as it balances support for the economy against the threat of rising prices.
Hee Kyung Min, EVP and Chief HR Officer of CJ Corporation says they company's businesses are targeted towards a younger audience which they see as a key area of growth.
Greg Matwejev, Director, FX Hedge Fund Sales and Trading at Newedge says the Bank of Korea rate cut was not really a surprise considering previous easing from other major central banks. John Woods, Chief Investment Strategist at Citi Private Bank joins in the conversation.
SEOUL, May 9- South Korea's central bank cut interest rates for the first time in seven months on Thursday to join the new government's stimulus efforts and to help ease the upward pressure on the won, especially against the yen. -Full text of Bank of Korea statements.
SEOUL, May 9- South Korea's central bank caught markets by surprise after it cut rates unexpectedly by 25 basis points to 2.50 percent as recovery in Asia's fourth-largest economy is taking longer than expected. Following are key remarks from Bank of Korea Governor Kim Choong-soo at a news conference, translated by Reuters:.
SEOUL, May 9- Following is the full text of statements released by South Korea's central bank in English after the Bank of Korea unexpectedly cut rates by 25 basis points to 2.50 percent on Thursday:. "The Monetary Policy Committee of the Bank of Korea decided today to lower the Base Rate by 25 basis points from 2.75 percent to 2.50 percent."
*Bank of Korea chief's news conference due at 0220 GMT. SEOUL, May 9- South Korea's central bank cut interest rates for the first time in seven months on Thursday, confounding the expectations of most market analysts that it would leave rates unchanged as recent economic indicators suggested that growth for Asia's fourth-largest economy remained subdued.
SEOUL, May 9- U.S. crude held above $96.50 a barrel on Thursday, underpinned by the spread against Brent which narrowed sharply in the prior session amid hopes for increased capacity to funnel rising U.S. crude oil production out of benchmark-supply-point Cushing. *U.S. crude oil was up 7 cents a barrel at $96.69 by 0122 GMT, after settling up $1 at $96.62 on Wednesday.
SEOUL, May 9- South Korea's central bank cut rates for the first time in seven months on Thursday, overthrowing market consensus for a hold but not surprisingly as weak industrial growth suggests the economy is not recovering as quickly as expected.
SEOUL, May 9- South Korea's central bank cut interest rates for the first time in seven months on Thursday, overthrowing market consensus for a hold but not surprisingly as weak industrial growth suggests the economy is not recovering as quickly as expected.
Martin Schulz, MD, International Equities at PNC Capital Advisors pinpoints the competitive devaluation scenario playing out in Asia as the major reason behind the Bank of Korea's interest rate cut.
After three central banks moved to cut rates recently, expectations are growing that Asia's fourth largest economy - South Korea - could follow in their footsteps on Thursday with a surprise rate cut.
BEIJING, May 8- China's exports and imports grew more than expected in April from a year earlier, possibly easing some of the concerns about weakness in the recovery of the world's second-largest economy, though doubts remained over the strength of real demand and the accuracy of the figures.
SEOUL, May 8- South Korea's main KOSPI share index was flat at 1,954.37 as of 0052 GMT. The news puts Ssangyong in positive contrast with Hyundai Motor, its bigger peer, which is struggling with capacity constraints and ongoing labour disputes at home. Shares in Hyundai Motor were up 0.2 percent.
HONG KONG, May 8- Hong Kong shares may start steady on Wednesday as investors brace for China trade data at 0200 GMT for the latest gauge of the health of the region's biggest economy after a recent series of soft data raised concerns about the growth outlook.