Asia-Pacific News


  • Wipro Beats Profit Forecasts, Joining Infosys, Tata Thursday, 17 Jan 2013 | 11:29 PM ET

    India's No.3 software services provider Wipro posted an 18 percent gain in quarterly profit, joining bigger rivals Tata Consultancy Services and Infosys in reporting better-than-expected earnings.

  • Yuan as a World Currency? Getting There Fast Thursday, 17 Jan 2013 | 10:52 PM ET

    As Beijing eases control over its currency and opens up its financial markets to foreign investors, the yuan is gaining ground as a global currency and is headed for further gains.

  • Which to Buy—Developed or Emerging Stocks? Thursday, 17 Jan 2013 | 9:20 PM ET

    Developed and emerging market equities were locked in a tight race in 2012, both generating double-digit returns of up to 15 percent, however, this year asset managers expect a clear winner.

  • Jakarta

    Heavy monsoon rain triggered severe flooding in large swathes of the Indonesian capital, Jakarta, on Thursday, bringing the city to a halt with many government offices and businesses forced to close because staff could not get to work.

  • China Labor Cost Rise to Boost Rivals in Asia Thursday, 17 Jan 2013 | 5:00 PM ET

    China’s rising labor costs will help other South Asian countries gain a foothold in low-end manufacturing, a report from Capital Economics said on Thursday.

  • State-run Indian oil marketing companies can now raise diesel prices in line with increases in global crude oil prices, Oil Minister Veerappa Moily said on Thursday, a move that could help the government reduce its vast subsidy bill.

  • Rio Tinto CEO Resigns After $14 Billion Charge Thursday, 17 Jan 2013 | 2:55 AM ET

    Global miner Rio Tinto has announced the surprise resignation of its chief executive after taking a $14 billion charge in connection with Tom Albanese's two most significant acquisitions, Mozambican coal and aluminium.

  • China's Brokerages Earned Less Than Goldman Last Year Thursday, 17 Jan 2013 | 2:12 AM ET
    Investors make trades on computer terminals at a securities exchange in Shanghai, China.

    China's 114 brokerages earned less than Wall Street bank Goldman Sachs did in 2012, and their combined profit was down 16 percent from a year earlier, industry data showed on Thursday.

  • Sony CEO Says Aims to Expand TV Sales From 2014 Thursday, 17 Jan 2013 | 12:26 AM ET

    Sony, which has spent several years shrinking its television unit, plans to expand sales from next year once the business has stopped losing money, chief executive Kazuo Hirai said on Thursday.

  • The Most ‘Dangerous’ Asset to Own Is... Thursday, 17 Jan 2013 | 12:18 AM ET

    Adding to a rising chorus of analysts warning of a potential bond market crash in 2013 is David Roche, president of Independent Strategy, who points to the most "dangerous" asset to own.

  • Sharp in Talks to Sell Chinese TV Plant to Lenovo Wednesday, 16 Jan 2013 | 8:40 PM ET

    Sharp may sell its Chinese TV assembly plant to Lenovo as the cash-strapped Japanese TV maker looks to sell assets to bolster its finances, sources said.

  • Australia Jobs Data Signal Rate Cuts Ahead Wednesday, 16 Jan 2013 | 8:33 PM ET

    Australian employment fell unexpectedly in December, nudging the jobless rate up to 5.4 percent and pushing the local dollar down as the market narrowed the odds of further cuts in interest rates in coming months.

  • Japan's Renesas to Cut Additional 3,000 Jobs Wednesday, 16 Jan 2013 | 7:16 PM ET

    Japanese chipmaker Renesas Electronics said on Thursday it plans to cut an additional 3,000 to 4,000 jobs in September as it slims down management and its design operations.

  • Suicide of Another Rape Victim Puts Spotlight on Inaction Wednesday, 16 Jan 2013 | 6:36 PM ET

    On the evening of Dec. 26, as an Indian government-chartered jet was heading to Singapore with a critically injured New Delhi gang rape victim on board, the teenage survivor of another gang rape was taking her own life.

  • European Shares Lower on Weak Auto Sales     Wednesday, 16 Jan 2013 | 6:12 AM ET

    CNBC's Ross Westgate reports on all the market moving events from around the globe, as the euro moves into positive territory.

  • Japan: The Test Case for Boeing’s Dreamliner Woes? Wednesday, 16 Jan 2013 | 2:28 AM ET
    A Boeing Co. 787 Dreamliner airplane for All Nippon Airways

    Japan will be a test case for how customers of aircraft manufacturer Boeing respond to safety concerns surrounding the Dreamliner 787, the pride of Boeing's passenger jet fleet, airline industry watchers.

  • What India's IT Earnings Say About the West Tuesday, 15 Jan 2013 | 10:24 PM ET

    India's top two exporters of software services surprised the markets this week with strong 2012 fourth quarter earnings, pointing to a recovery in demand from their key markets, the U.S. and Europe.

  • Japan's Abe Turns to Southeast Asia to Counter China Tuesday, 15 Jan 2013 | 6:05 PM ET
    Shinzo Abe, incoming Prime Minister of Japan.

    The last time he was prime minister of Japan, Shinzo Abe's inaugural foreign trip was to China. In the job again 7 years later and relations with Beijing now chilly, Abe is turning first this time to the rising economic stars of Southeast Asia.

  • European Shares Flat After German GDP Data     Tuesday, 15 Jan 2013 | 6:12 AM ET

    CNBC's Kelly Evans reports the latest market action from around the globe, including Italy's plans to tap the debt market for the first time in two years, with a new 15-year bond.

  • Jack Ma to Stand Down as Alibaba CEO, Take Back Seat Tuesday, 15 Jan 2013 | 4:30 AM ET

    One of China's best known corporate leaders, Jack Ma, will step down as CEO of Alibaba Group, the e-commerce firm he founded in 1999 to tap the nation's enormous online shopping potential, saying younger people are better placed to run the company.

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