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South and Southeast Asia

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  • The top executive at the maker of Subaru automobiles joked that he would have to wear a helmet on an upcoming trip to the United States. Subaru's U.S. sales have almost doubled in the past four years. Subaru's " Love Promise," in which it pledges to make "a positive impact in the world," has helped build loyal consumers in states like California, New York and Washington.

  • MANILA, Philippines— The Asian Development Bank said Tuesday it is ready to boost lending to the Philippines by 66 percent to about $3 billion to support the country's infrastructure and development needs. A joint statement after a meeting of ADB President Takehiko Nakao and Philippine Finance Secretary Cesar Purisima said the Manila- based lender is ready...

  • MANILA/ LONDON, July 28- Demand for gold slid to its lowest in six years in the second quarter of this year as buyers from top consumer China poured funds into its now troubled equities market, an industry report showed on Tuesday. Retail investment from China fell by a quarter and jewellery demand by 23 percent in the April to June period as stock markets there...

  • LONDON, July 28- Gold edged higher on Tuesday but remained near 5-1/ 2- year lows as markets braced for this week's two-day Federal Reserve meeting, at which policymakers are tipped to give further clues on the timing of a U.S. rate increase. Gold hit a low of $1,077 on Friday, its cheapest since early 2010, in a fifth week of losses. "Gold is treading water despite a...

  • KUALA LUMPUR, Malaysia— Long-haul budget carrier AirAsia X said Tuesday it expects to return to operational profit by the end of the year and is open to foreign investment. AirAsia X has suffered losses in the past two years and its share price has plunged to near record lows at around 0.20 ringgit, far below its IPO price of 1.25 ringgit. Malaysia- based AirAsia X has...

  • KUALA LUMPUR, Malaysia— Malaysian Prime Minister Najib Razak, stung by allegations that he received some $700 million in government money, on Tuesday fired the attorney general who had been investigating him and a deputy who has been among his most prominent critics. Najib announced over national television that his deputy Muhyiddin Yassin will be replaced...

  • KUALA LUMPUR, Malaysia— Malaysian PM axes deputy, sacks attorney general in purge of critics amid fund scandal.

  • JAKARTA, July 28- British Prime Minister David Cameron sought to forge closer business ties with Indonesia on Tuesday, saying British investment could easily double if deals can be clinched on infrastructure projects. Indonesia is Cameron's first stop on a four-day trade mission to Southeast Asia to spur lucrative business deals and encourage new...

  • *June factory output -8.0 pct y/y, biggest fall since March 2014. BANGKOK, July 28- Thailand's finance ministry on Tuesday cut its economic growth forecast for the third time this year due mainly to shrinking exports, a big obstacle to the trade-dependent country regaining traction. Since then, growth targets for Southeast Asia's second-largest economy have...

  • BEIJING— Chinese stocks fell further Tuesday after suffering their biggest drop in eight years the previous day while most other Asian markets declined and Europe rose. In Europe, Germany's DAX was up 0.9 percent at 11,150.48 and France's CAC-40 gained 0.8 percent to 4,967.18. CHINA'S PLUNGE: The Shanghai index fell 8.5 percent on Monday, its biggest one-day...

  • *Iran deal likely boosted industry expectations-economist. BERLIN, July 27- Business confidence in Germany unexpectedly improved in July after two monthly drops as an agreement between Greece and its creditors for talks on a third bailout lifted the mood at firms in Europe's largest economy. Ifo president Hans-Werner Sinn said the easing of the crisis had...

  • BERLIN, July 27- Business confidence in Germany improved in July after two monthly drops as an agreement between Greece and its creditors for talks on a third bailout lifted the mood at firms in Europe's largest economy. Hans-Werner Sinn, president of Ifo think tank, said the easing of that crisis had helped boost sentiment in Germany. Last week Germany and Iran...

  • Thai Airways suspends unprofitable US flights Monday, 27 Jul 2015 | 2:22 AM ET

    BANGKOK— Thailand's beleaguered national airline said Monday it will suspend flights to the U.S. as part of efforts to end years of losses. The airline will suspend the unprofitable four roundtrip flights per week from Bangkok to Los Angeles and from Bangkok to Rome, starting October 25, Thai Airways President Jarumporn Chotikasathein said in a statement.

  • *June trade surplus $150 mln vs poll's $2.0 bln surplus. BANGKOK, July 27- Thailand's exports tumbled more than expected in June, indicating the country's weaker currency is not yet helping fire up the country's traditional long-stalled growth engine. Exports, which equal more than 60 percent of the economy, dropped 7.87 percent in June from a year earlier, the...

  • YANGON, Myanmar— From space, the fishing boats are just little white specks floating in a vast stretch of blue water off Papua New Guinea. The trawlers fled a slave island in Indonesia with captives of a brutal Southeast Asian trafficking ring whose catch reaches the United States. After a four-month investigation, The Associated Press has found that at least...

  • The trip, which begins in earnest on Monday, is expected to take in Indonesia, Malaysia, Singapore and Vietnam, and will be Cameron's first outside Europe since he won an unexpectedly convincing election victory in May. Around 500 people from Indonesia, which has the world's largest Muslim population, and 200 from Malaysia are believed to have joined the...

  • BANGKOK, July 26- Thai Airways International Pcl plans to cut 1,401 jobs through voluntary retirement this year and suspend its loss-making flights to Los Angeles and Rome as it pushes ahead with a restructuring plan, its president said on Sunday. Thai Airways aims to cut operating costs by up to 9 billion baht this year, Charumporn said. From Oct. 25, the carrier...

  • *Most insurers in Reuters survey say Iran attractive market. LONDON/ SYDNEY, July 26- Western and Middle East insurance specialists see Iran as an appealing $8 billion market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country with caution. Under the accord reached...

  • Many businesses cheer the plans, which they say will help make India a manufacturing hub. Taiwan's Foxconn, the world's largest contract electronics manufacturer, plans to set up 12 new factories in India and employ one million workers. Like many other low-margin businesses in India, garment makers will gain from increased flexibility to hire, and fire,...

  • TORONTO/ JAKARTA, July 25- Shares of diversified miner and energy producer Freeport-McMoRan sank for a second session on Friday, as uncertainty around Indonesian mining contracts added to worries about spending plans, high debt and falling commodity prices. "They haven't completed the terms," Coal and Minerals director general Bambang Gatot told reporters...