Asia-Pacific News


  • Egan Jones: Further US Rating Downgrades Unlikely Friday, 4 Jan 2013 | 12:58 AM ET

    Independent ratings agency Egan-Jones, which slashed the U.S. sovereign credit rating twice last year, said it has no intention of further downgrading the country this year, praising efforts by U.S. lawmakers to avert the "fiscal cliff".

  • India Services PMI Jumps to 3-Month High in December Friday, 4 Jan 2013 | 12:33 AM ET
    Mumbai, India

    India's services sector grew at its strongest pace in three months during December, as company order books filled at the quickest rate since last February, a survey showed on Friday.

  • Samsung to Widen Lead Over Apple in Smartphones Friday, 4 Jan 2013 | 12:07 AM ET

    Samsung is expected to widen its lead over Apple in global smartphone sales, helped by a broad product lineup, a market researcher firm said Friday.

  • Automakers in China Brace for Dismal Growth in 2013 Thursday, 3 Jan 2013 | 10:18 PM ET

    Automakers in China are bracing for another year of tepid single-digit growth in 2013, weighed down by sluggish demand for Japanese cars amid a diplomatic row between the two regional neighbors and government measures intended to restrict traffic in bigger cities.

  • End of Stimulus? Why It Isn't All Bad News Thursday, 3 Jan 2013 | 10:00 PM ET

    The Fed minutes triggered a sell-off in equities as investors fretted over a possible end to historically low interest rates. The upside? Analysts say this reflects confidence in the U.S. economy.

  • A foreign tourist pauses to look at the glittering Shwedagon Pagoda in Yangon, Myanmar.

    Japan's new government confirmed its support for the emerging democracy in Myanmar on Thursday when Finance Minister Taro Aso visited the country to reaffirm Japan's intention to cancel debt and help develop a big industrial zone.

  • China's services sector saw its slowest rate of expansion in nearly a year and a half in December, a private sector survey showed on Friday, in another piece of evidence that a fourth-quarter economic growth revival will remain modest.

  • Apple Supplier Foxconn Expands Its Global Reach Thursday, 3 Jan 2013 | 9:03 PM ET
    Chinese workers make their way back to a Foxconn factory after lunch break in an industrial district of Foshan City, southern China's Guangdong province.

    Foxconn is expanding in Brazil, where many plants make Apple products to avoid import taxes on goods sent from China, The FT reports.

  • What's Booming? China's Demand for Iron Ore Thursday, 3 Jan 2013 | 8:33 PM ET
    Iron ore from Fortescue Metals Group Ltd.'s Cloudbreak mine arrives at the receiving facility at the company's Port Hedland operation in the Pilbara region of Western Australia.

    Iron ore exports to China from Australia's Port Hedland, a bellwether for Chinese industrial activity, surged 25 percent in December from the previous month to a record level, shipping data showed.

  • The Luxury Brand That's Stepping Things Up in China Thursday, 3 Jan 2013 | 7:29 PM ET
    A logo sits above the entrance to a Salvatore Ferragamo SpA store in Florence, Italy.

    Italian shoemaker Salvatore Ferragamo has raised its stake in distribution companies operating in China as part of a strategy to strengthen its position in Asia.

  • Starbucks said it will set up its first outlet in in Ho Chi Minh City early next month via a partnership with Hong Kong's Maxim's Group as the U.S. chain continues to expand in fast-growing Asian markets.

  • India Seizes $5 Billion Bills of Exchange From Trader Thursday, 3 Jan 2013 | 6:15 PM ET

    Indian tax authorities are investigating a possible financial scam after seizing $5 billion worth of bills of exchange issued by Barclays from the home of a trader, an official at the local tax department said on Thursday.

  • Is 2013 the Year Japan's Economy Turns Around? Thursday, 3 Jan 2013 | 2:28 PM ET

    “Japan had disappointed so many times in the past when there were reasons to hope for a recovery,” writes Bill Witherell, chief global economist at Cumberland Advisors, in a recent commentary. But this year will be different, he says.

  • Why Hong Kong’s Bull Market Will Last Into 2013 Thursday, 3 Jan 2013 | 2:25 AM ET

    A "bull run" in Hong Kong's benchmark Hang Seng stock index, one of last year's best performing markets in Asia, should last well into 2013 thanks to a brighter economic outlook and a rebound in mainland shares, analysts say.

  • US Fiscal Deal Could Spell Trouble for Asia Thursday, 3 Jan 2013 | 1:37 AM ET

    A resolution to the U.S. fiscal cliff crisis, messy and protracted as it was, provided an immediate boost for financial markets but longer term could spell trouble for some Asian assets that are coming off a stellar 2012.

  • Threat of New Curbs Looms for Singapore Property Thursday, 3 Jan 2013 | 12:20 AM ET

    Sluggish economic growth and six rounds of property cooling measures over the past three years, yet Singapore home prices remained on the boil in 2012. That can only mean one thing, say analysts: fresh curbs to cool the housing market in the months ahead.

  • China Services Growth Adds to Recovery Hopes Wednesday, 2 Jan 2013 | 10:31 PM ET
    Shopping district in Beijing, China

    Growth in China's increasingly important services sector accelerated in December at its fastest pace in four months, adding to signs of a modest year-end revival in the world's second-largest economy.

  • Watch Out, Asia. Inflation Is on Its Way Wednesday, 2 Jan 2013 | 10:00 PM ET

    Inflation in Asia may be under control, but prices across the region could soon start to creep higher, with India and Southeast Asia the most vulnerable, warns independent economist Andy Xie.

  • Apple Begins Testing iPhone 6, iOS7: Report Wednesday, 2 Jan 2013 | 8:54 PM ET

    Apple has begun testing another new version of the iPhone and the latest iteration of their iOS operating system, according to The Next Web.

  • Google Executive Chairman to Visit North Korea Wednesday, 2 Jan 2013 | 7:22 PM ET
    Eric Schmidt

    Google's executive chairman is preparing to travel to one of the last frontiers of cyberspace, North Korea on a private, humanitarian mission led by former New Mexico Gov. Bill Richardson that could take place as early as this month, sources told The Associated Press on Wednesday.

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