Asia-Pacific News


  • Australian business confidence slumped to its lowest level in more than three years in November, while conditions stayed weak, bolstering the case for further cuts in interest rates.

  • Is China Easing its Grip on Web Censorship? Monday, 10 Dec 2012 | 7:51 PM ET
    Xi Jinping

    China must deepen reforms to perfect its market economy and strengthen rule of law, Communist Party chief Xi Jinping said in southern Guangdong.

  • US Intelligence: Asia's Global Power Rising Monday, 10 Dec 2012 | 7:28 PM ET

    China's economy is likely to surpass the United States in less than two decades but the Asian country is not expected to take on the superpower role of the United States in gathering coalitions to deal with global issues.

  • HSBC to Pay $1.9 Billion for Money Laundering Monday, 10 Dec 2012 | 7:27 PM ET

    Federal and state authorities plan to announce a record $1.9 billion settlement with HSBC on Tuesday, a major victory in the government's broad crackdown on money laundering at banks.

  • StanChart to Pay $327 Million in Sanctions Case Monday, 10 Dec 2012 | 6:29 PM ET

    StanChart has agreed to pay $327 million to resolve allegations that it violated U.S. sanctions against Iran, Sudan and two other countries, capping months of legal headaches for the British bank.

  • Japanese chipmaker Renesas Electronics, hit by slumping orders and competition from rivals like Samsung Electronics, secured a 150 billion yen ($1.8 billion) lifeline from a government-led bailout on Monday.

  • The Bank of Japan will likely ease monetary policy as looming risks such as the potential fallout from the U.S. fiscal cliff and weak Chinese growth continue to cloud the outlook for an economy already seen as in recession.

  • How Much Do Tech Giants Stash Overseas? Billions. Monday, 10 Dec 2012 | 3:51 PM ET

    There's a lot of talk about the staggering amount of cash some big tech companies are sitting on -- but just how much of that are they stashing outside the U.S.?

  • Euro Zone Must Press On With Reforms: Rehn Monday, 10 Dec 2012 | 12:00 PM ET
    European economic commissioner Olli Rehn at the World Economic Forum.

    Europe has made progress in reforms that have helped to rebalance the euro zone economy, but the currency bloc must continue with these efforts to restore confidence, says the EU's top economics official Olli Rehn.

  • Apple Maps Seen 'Life-Threatening' Down Under Monday, 10 Dec 2012 | 10:38 AM ET
    Apple Maps

    Police in Australia are warning citizens to not use Apple maps after some motorists using the app have ended up in "life-threatening" situations.

  • North Korea Rocket Launch Delayed Due to 'Glitch' Monday, 10 Dec 2012 | 4:19 AM ET

    North Korea has extended the window for a widely condemned long-range rocket launch by a week after discovering a "technical deficiency", the isolated state's news agency said on Monday.

  • Japan's TV makers are selling buildings and businesses in a giant "garage sale" that could raise a combined $3 billion.

  • Poor China Exports Data Won't Derail Recovery Monday, 10 Dec 2012 | 12:48 AM ET

    China's trade numbers for November came in far below expectations, however, economists are confident the slump in export growth will not derail the recovery in the world's second largest economy.

  • India's November Car Sales Slump, Outlook Grim, Too Monday, 10 Dec 2012 | 12:17 AM ET
    Mumbai, India

    Car sales in India slumped 8 percent in November, dashing hopes of a sustained revival in demand, as an expected festive season boom failed to materialise in a key growth market for global carmakers.

  • Only a 'German-Built' Euro May Survive Sunday, 9 Dec 2012 | 9:30 PM ET

    I am convinced that only a "German built" euro can survive and prosper as a global transactions currency, a widely held reserve asset and a reliable store of value.

  • China Export Numbers Take Shine Off Strong Data Sunday, 9 Dec 2012 | 9:24 PM ET

    China's exports grew 2.9 percent in November from a year earlier, missing market expectations for a rise of 9 percent and easing from an increase of 11.6 percent recorded in October.

  • American International Group Inc.'s (AIG) building located at 72 Wall Street in New York, U.S.

    American International Group has agreed to sell nearly all of its ILFC airplane leasing business to a Chinese consortium for up to $4.8 billion.

  • Why Canada Can Resist, but Won't Stop Energy Deals Sunday, 9 Dec 2012 | 8:00 PM ET

    Canada says it will allow no further deals by Chinese state-owned enterprises after approving a $15.1 billion acquisition of Canadian energy firm Nexen by China's CNOOC. Experts say watch this space.

  • A man uses his mobile phone in front of electronic stock boards at the Australian Securities Exchange (ASX Ltd.) headquarters in Sydney, Australia.

    Shares in Australia's loss-making Ten Network sank 25 percent on Monday as they resumed trading after Ten's second cash call in under six months.

  • Japan Revised GDP Signals Economy in Recession Sunday, 9 Dec 2012 | 7:14 PM ET
    Tokyo, Japan

    Japan's economy contracted for a second straight quarter in July-September, revised government data showed on Monday, indicating that weak global demand nudged the export-reliant economy into a mild recession.

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