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South and Southeast Asia

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  • VIENNA, July 24- Iran's foreign reserves total between $115 billion and $125 billion, including assets in its sovereign wealth fund, its industry minister said on Friday in one of the most detailed public descriptions of the reserves by an Iranian official. The size of the foreign reserves and the way in which Iran uses them will be crucial in its efforts to...

  • LONDON, July 24- Oil prices hovered near four-month lows on Friday after data showed a contraction in China's factory sector and the dollar rose against a basket of currencies. "Concerns around the demand environment were heightened further today by the PMI read out of China," said Michael McCarthy, chief market strategist at CMC Markets in Sydney.

  • LONDON, July 24- Brent crude oil prices neared four-month lows on Friday after data showed a contraction in China's factory sector and the dollar rose against a basket of currencies. "Concerns around the demand environment were heightened further today by the PMI read out of China," said Michael McCarthy, chief market strategist at CMC Markets in Sydney.

  • *Gold prices fall for ninth out of 10 sessions. LONDON, July 24- Gold slid more than 1 percent on Friday to its lowest since early 2010 as fresh strength in the dollar prompted another wave of selling, putting the metal on course for its biggest weekly loss in nine months. Gold has been hurt this year by expectations that the Federal Reserve is on track to raise interest...

  • TOKYO— Nikkei Inc., the Japanese buyer of the Financial Times, pledged Friday to respect the culture of the London- based business daily, while also tapping its digital expertise and global reach. Nikkei is Nikkei, "said Naotoshi Okada, the president and CEO of Nikkei Inc., which publishes a namesake newspaper that's the top business daily in Japan.

  • WTO members seal trillion-dollar IT trade deal Friday, 24 Jul 2015 | 12:00 AM ET

    Technology manufacturers like General Electric Co, Intel Corporation, Texas Instruments Inc, Microsoft Corp and Nintendo Co are among companies expected to benefit from the deal. "That definitely impacts Intel and that's important but also as important are the other technologies that it covers that were not even dreamt of when the original ITA was...

  • YouTube makes virtual reality push with 360-degree 3-D Thursday, 23 Jul 2015 | 9:53 PM ET

    ANAHEIM, Calif.— YouTube says it's making a further push into virtual reality, promising to add 3- D support for videos that play back in its 360- degree format. YouTube also said it would provide special camera rigs that support the format at its studios around the world, including at two locations opening in the next year in Toronto and Mumbai.

  • VIENNA, July 23- Western firms are itching to return to Iran if sanctions are lifted, but to truly fulfil its potential Tehran should do more to make its business practices efficient and its environment welcoming, executives said at a trade conference. Not in Vienna, "said deputy oil minister Amir Hossein Zamaninia referring to domestic opponents to an historic...

  • MUMBAI, July 23- With only a tiny share of the world's fastest-growing major smartphone market, Apple Inc is stepping up its push into India, with a first targeted TV advertising campaign, expanded retail network and promotional financing schemes. For years, India has been a low priority for Apple as spending power is weaker than in China, where the company's...

  • *Q1 profit 5.25 bln rupees vs 6 bln rupee analyst view. MUMBAI, July 23- Lupin Ltd, India's third-largest drugmaker by sales, is buying U.S. peer GAVIS Pharmaceuticals LLC for $880 million in its largest ever acquisition, seeking to revive its flagging growth in the United States, its largest market. The company has also recently run into regulatory troubles, with the...

  • Less than 10 days after signing its nuclear deal, Iran formally threw open its doors Thursday to European Union companies, eager to do business— and dozens of firms answered the call. But even more than oil and gas are at stake, with Iranian officials also pitching the mining sector, Iran's automotive industry, and the financial sector, at what they bill as the first...

  • BERLIN— In the race to secure business deals with Iran, Germany was quickest out of the blocks. On Sunday, Economy Minister Sigmar Gabriel became the first senior Western official to visit Iran following last week's agreement to ease sanctions on the Islamic nation in exchange for concessions on its nuclear program. Last year, Germany imported goods worth 295...

  • *Iran wants "two-way trade" with Europe- minister. VIENNA, July 23- Iran outlined plans on Thursday for the rebuilding of its core industries and trade links in the wake of a nuclear agreement with world powers, saying it was targeting oil and gas projects worth $185 billion by 2020.. The United Nations Security Council on Monday endorsed a deal to end years of...

  • *OPEC members say price drop short term. "Demand is reasonably buoyant in the United States, but there's just so much supply," said Ben Le Brun, market analyst at OptionsXpress in Sydney. U.S. crude for September delivery was 11 cents higher at $49.30 by 0300 GMT, after dropping $1.67 on Wednesday to settle below $50 for the first time since April.

  • MANILA, Philippines— Grammy award-winning singer Chris Brown's departure from Manila was delayed Wednesday because of fraud allegations against him and his promoter for a canceled concert last New Year's Eve. The recording artist, who performed at a packed concert Tuesday night in Manila, was prevented from leaving on a private plane Wednesday pending...

  • *Indian refiners owe Iran more than $6.5 billion. NEW DELHI, July 22- India's top financial official will visit Iran this weekend to discuss how to pay its oil import dues, sources said on Wednesday after the deal Tehran struck with world powers to curb its nuclear program in return for the lifting of sanctions. The rest was settled in rupees through UCO Bank and...

  • Washington Post seeks UN agency help in freeing reporter Wednesday, 22 Jul 2015 | 9:45 AM ET

    WASHINGTON— The Washington Post has filed an urgent petition with the United Nations in the hopes that the institution will pressure Iran to release journalist Jason Rezaian, the newspaper's top editor and lawyers told U.S. reporters on Wednesday. The Post's lawyers and his family have denied the allegations and say Iran has no credible evidence to keep...

  • YANGON, Myanmar— A court in northern Myanmar sentenced 153 Chinese nationals to life in prison on Wednesday after convicting them of illegal logging in a case that has already strained relations with Beijing. Chinese loggers in Myanmar send wood to China even though timber exports were banned in 2014. Analysts say the timber can be exported because the...

  • Indian official to visit Iran to discuss oil dues Wednesday, 22 Jul 2015 | 8:37 AM ET

    NEW DELHI, July 22- India's top financial bureaucrat will visit Iran this weekend to discuss how to pay its oil import dues, sources said on Wednesday, after Tehran struck a deal with world powers to curb its nuclear program in return for the lifting of sanctions. Finance secretary Rajiv Mehrishi will lead a delegation to Iran from July 25-27, said three sources...

  • *Gold prices slide to lowest since March 2010. LONDON, July 22- Gold fell more than 1 percent to a five-year low on Wednesday as a bounce in the dollar fueled downside momentum, with investors continuing to pull away from the metal after its dramatic slide earlier this week. Spot gold was down 1.1 percent at $1,088.78 an ounce at 1213 GMT, while U.S. gold futures for...