Business News


  • Malaysia's Opposition Leader Anwar Freed on Bail Wednesday, 16 Jul 2008 | 10:51 PM ET

    Malaysian opposition figure Anwar Ibrahim has been freed on police bail, his lawyers said , but Anwar could still be charged for sodomy at a later date.  As a condition of the bail, Anwar has to report to police on Aug. 18 unless the authorities decide otherwise.

  • Obama: Magazine Insulted Muslim Americans Wednesday, 16 Jul 2008 | 1:30 PM ET

    Democrat Barack Obama said Tuesday that the New Yorker magazine's satirical cover depicting him and his wife as flag-burning, fist-bumping radicals doesn't bother him but that it was an insult to Muslim Americans.

  • Malaysia's Opposition Leader Anwar Arrested Wednesday, 16 Jul 2008 | 2:32 AM ET

    Malaysian opposition leader Anwar Ibrahim has been arrested by police, his lawyer  said.  Anwar had agreed to meet authorities later Wednesday on a sodomy complaint lodged by a former aide.  Police had warned they would arrest him if he did not show up.

  • China Says Olympic Sailing Venue Now Algae-Free Wednesday, 16 Jul 2008 | 12:16 AM ET
    Chinese soldiers remove blue green algae from a beach in Qingdao, eastern China, Wednesday, July 2, 2008. A little over a month before the start of the 2008 Olympic Games the venue for the sailing events in Qingdao has been invaded by a forest of blue green algae. City officials say they'll need at least two weeks to clear coastal waters, mobilizing 10,000 workers aboard 1,000 boats. (AP Photo/Ng Han Guan)

    A massive algae bloom that threatened the Olympic Games sailing venue at the Chinese coastal resort of Qingdao has now almost been cleared, state media reported on Wednesday.

  • German Investor Sentiment Slumps to Record Low Tuesday, 15 Jul 2008 | 7:01 AM ET

    A key gauge of German investor sentiment slid to a record low in July, battered by concerns about the U.S. financial sector and fears of a lasting downturn for German manufacturers.

  • BOJ keeps rates steady, warns of slower growth Tuesday, 15 Jul 2008 | 1:51 AM ET

    The Bank of Japan left interest rates on hold at 0.5% on Tuesday as expected but downgraded its growth forecasts, warning high energy costs are slowing the world's second largest economy.

  • Embattled Thai PM Unveils Economic Stimulus Plan Tuesday, 15 Jul 2008 | 1:12 AM ET

    Thai Prime Minister Samak Sundaravej is set to unveil a new package of tax cuts and cash handouts on Tuesday in a bid to revive a struggling economy and his government's flagging popularity.

  • Not All in Beijing Gain from the Games Tuesday, 15 Jul 2008 | 12:22 AM ET

    Zhou Zhilian is one of thousands of entrepreneurs for whom the Olympic Games next month represent more a missed opportunity than a chance to cash in on the influx of visitors expected to pour into Beijing.

  • Malaysia Warns Against Rally, Anwar to Meet Police Sunday, 13 Jul 2008 | 11:38 PM ET
    Visiting Kazakhstan President Nursultan Nazarbayev, right, and Malaysian Prime Minister Abdullah Ahmad Badawi pose outside the latter's office in Putrajaya, outside Kuala Lumpur, Malaysia, Monday, June 26, 2006. Nazarbayev arrived in Malaysia Sunday for a three-day visit. (AP Photo/Bazuki Muhammad, Pool)

    Malaysian police vowed to crack down on an opposition-led rally on Monday, seeking to subdue growing dissent, as opposition figure Anwar Ibrahim prepared to meet police over sodomy accusations against him.

  • Beijing's Big Steelmaker Announces Games Pollution Cut Sunday, 13 Jul 2008 | 10:08 PM ET

    One of China's biggest steelmakers, Shougang, has announced it will slash production at its Beijing plant, bowing to pressure to help clean the city's grimy skies for the Olympic Games.

  • China Trade Surplus Hits $21.4 Billion, Exports Slow Thursday, 10 Jul 2008 | 2:43 AM ET
    China, Chinese Flag

    China recorded a smaller-than-expected trade surplus of $21.35 billion in June, as slower growth in exports contributed to concerns that weakening demand overseas could be starting to hit the economy.

  • Malaysia PM to Step Down June 2010: Website Thursday, 10 Jul 2008 | 1:14 AM ET
    Visiting Kazakhstan President Nursultan Nazarbayev, right, and Malaysian Prime Minister Abdullah Ahmad Badawi pose outside the latter's office in Putrajaya, outside Kuala Lumpur, Malaysia, Monday, June 26, 2006. Nazarbayev arrived in Malaysia Sunday for a three-day visit. (AP Photo/Bazuki Muhammad, Pool)

    Malaysian Prime Minister Abdullah Ahmad Badawi will announce plans to retire in June 2010, a move aimed at ending months of political uncertainty that have unnerved investors, a news website said on Thursday.

  • Bank of Korea Holds Rates, Keeps FX Markets on Edge Wednesday, 9 Jul 2008 | 10:51 PM ET
    Korea, Korean Flag

    South Korea's central bank kept rates on hold on Thursday as expected, with its battle against inflation now playing out in the currency market where the won jumped as much 1 percent on dollar-selling fears.

  • Japan Wholesale Prices Hit New 27-Year High Wednesday, 9 Jul 2008 | 10:06 PM ET
    Japanese Flag

    Japanese wholesale prices rose slightly more than expected in June from a year earlier to hit a fresh 27-year high on surging oil and commodity prices, adding gloom to firms facing dwindling profit margins.

  • Singapore Suffers Worst Contraction in 5 Years Wednesday, 9 Jul 2008 | 9:27 PM ET

    Singapore's economy suffered its steepest decline in five years in the in the second quarter, down an annualized, seasonally adjusted rate of 6.6% -- much stronger than economists had expected.

  • Malaysian June Inflation May Exceed 6% Wednesday, 9 Jul 2008 | 12:42 AM ET

    Malaysian annual inflation in June probably exceeded 6.0 percent, the central bank chief said on Wednesday, breaching a mark not seen in 26 years and reinforcing expectations of an interest rate hike.

  • Japan Machinery Orders Stronger than Expected Tuesday, 8 Jul 2008 | 10:03 PM ET
    Japanese Flag

    Japan's core machinery orders rose a faster-than-expected 10.4% in May, suggesting capital spending was holding up, but economists were cautious about the outlook as soaring costs hurt corporate bottom lines.

  • Siemens to Cut 16,750 Jobs Amid Economic Downturn Tuesday, 8 Jul 2008 | 11:46 AM ET

    German industrial conglomerate Siemens  plans to cut around 4 percent of its workforce as part of an overhaul and as a result of the global economic downturn, Siemens said on Tuesday.

  • S.Korea President Sacks Ministers for US Beef Deal Monday, 7 Jul 2008 | 3:24 AM ET
    A South Korean protester in a cow outfit holds a placard during a candlelight vigil against U.S. beef imports in front of the Seoul City Hall, South Korea, Wednesday, June 4, 2008. South Korea's opposition parties agreed Wednesday to boycott the new legislature to pressure embattled President Lee Myung-bak to renegotiate a much-criticized beef import deal with the United States. The Korean read " Oppose Import." (AP Photo/Lee Jin-man)

    South Korean President Lee Myung-bak sacked three ministers on Monday in his first cabinet reshuffle, trying to restore support for his four-month-old government embattled over an unpopular U.S. beef import deal.

  • S. Korea Warns of Currency Intervention Monday, 7 Jul 2008 | 3:19 AM ET

    South Korean authorities warned markets on Monday they would defend the won aggressively to rein in inflation, boosting the currency and reinforcing expectations the central bank will keep interest rates steady this week.