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Asia-Pacific News South and Southeast Asia

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  • July 29 (Reuters)- Rockwell Automation Inc, which makes automation systems that help factories run smoothly, reported a 4.5 percent fall in quarterly revenue, hurt by a strong dollar and slowing industrial production growth. Rockwell, which gets about 48 percent of its annual revenue from outside the United States, tightened its 2015 adjusted earnings forecast...

  • Peugeot has "developed proposals" with historic partner Iran Khodro, Tavares said, but progress is being hindered by a backlash over France's tough line during the talks preceding a July 14 breakthrough deal under which sanctions are to be lifted in return for curbs on Iranian nuclear activities. Hashem Yekke-Zare, managing director of Iran Khodro, said the...

  • Rockwell Automation revenue falls 4.5 pct Wednesday, 29 Jul 2015 | 7:11 AM ET

    July 29- Rockwell Automation Inc, which makes automation systems that help factories run smoothly, reported a 4.5 percent fall in quarterly revenue, hurt by a strong dollar. The company's net income rose to $206.1 million, or $1.52 per share, in the third quarter ended June 30, from $199.7 million, or $1.43 per share, a year earlier. Revenue fell to $1.58 billion from...

  • MUMBAI, July 29- Global rice prices are likely to surge by 10 percent to 20 percent in the next few months as an El Nino weather pattern grips top producers in Asia, baking the region's croplands and whittling down stocks of the grain to multi-year lows. While higher prices of a key staple would be bad news for impoverished countries in Asia and Africa, lower output...

  • LONDON, July 29- Gold steadied on Wednesday as the dollar softened, but was still trading around a 5-1/ 2- year low hit last week as investors awaited the outcome of a Federal Reserve's meeting for cues on the timing of the first U.S. rate rise in nearly a decade. "We bounced from the low but we are little changed and waiting for the Fed's statement tonight and the...

  • *To launch 10 new India- made vehicles over next 5 years. NEW DELHI, July 29- General Motors Co will invest $1 billion in the next few years to turn operations in India into a new global export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday. But by 2020 analysts expect India to become the world's third-largest passenger...

  • GM to invest $1 bln in India, double market share by 2020 Wednesday, 29 Jul 2015 | 5:05 AM ET

    NEW DELHI, July 29- General Motors Co will invest $1 billion in the next few years to turn operations in India into a new global auto manufacturing and export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday. GM Chief Executive Officer Mary Barra said at a briefing in New Delhi that the investment in India was expected...

  • BEIJING/ SINGAPORE, July 29- Any attempt by Iran to sell to China millions of barrels of ultra light crude built up in tankers over the last 2-1/ 2 years of sanctions is likely to be thwarted by poor refining margins and an outage at a major importer of the oil. Traders and company officials say Iran has little choice but to target China to buy the crude known as...

  • *U.S. crude for September delivery dropped 25 cents to $47.73 a barrel as of 0003 GMT, after ending the previous session up 59 cents. The contract fell 17 cents in the previous session, and at one hit $52.28, its lowest since Feb. 2 on concerns about the stock market plunge in China, the world's largest energy consumer. *European Union foreign policy chief Federica...

  • 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...

  • China stocks fall for second day, Europe rises Tuesday, 28 Jul 2015 | 1:09 AM ET

    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...