×

Asia Top News and Analysis Ukraine

  • *Expects OPEC, non- OPEC to comply more with supply cuts. LONDON, Feb 21- OPEC and outside producers including Russia will boost compliance with agreed oil output curbs in a bid to clear a supply glut that has weighed on prices, the group's secretary general said on Tuesday. OPEC Secretary General Mohammad Barkindo also said he was "cautiously optimistic" on the...

  • HONG KONG/ LONDON, Feb 21- HSBC's full-year profit slumped 62 percent and fell far short of forecasts on Tuesday as the bank took hefty writedowns from restructuring and flagged near-term brakes on revenue growth. HSBC made profit before tax of $7.1 billion in 2016 compared to $18.87 billion for the previous year, well below an average analyst estimate of $14.4...

  • DUBAI, United Arab Emirates— Dubai's government says an arbitration tribunal has cleared port operator DP World of allegations of wrongdoing over its operation of an East African port. The government of Djibouti brought a legal challenge against Dubai's state-backed DP World in 2014 over its 50- year deal to operate the Doraleh Container Terminal, accusing...

  • *PSA CEO met with Opel labour chiefs, union reps on Monday. FRANKFURT/ PARIS, Feb 21- PSA Group has pledged to respect existing Opel and Vauxhall job guarantees if it buys the European arm of General Motors, though some analysts say thousands of jobs are eventually likely to go for the deal to work. General Motors has pledged not to impose forced redundancies on some of...

  • *PSA CEO met with Opel labor chiefs, union reps on Monday. FRANKFURT/ PARIS, Feb 21- PSA Group has pledged to respect existing Opel and Vauxhall job guarantees if it buys the European arm of General Motors, though some analysts say thousands of jobs are eventually likely to go for the deal to work. General Motors has pledged not to impose forced redundancies on some of...

  • Once again this was a record forged in China. While primary metal production in the rest of the world fell by 182,500 tonnes on an annualized basis over the course of December and January, it surged in China. The irony is that part of the reason for strong pricing is the threat of capacity curtailments in China on environmental grounds.

  • Once again this was a record forged in China. While primary metal production in the rest of the world fell by 182,500 tonnes on an annualised basis over the course of December and January, it surged in China. The irony is that part of the reason for strong pricing is the threat of capacity curtailments in China on environmental grounds.

  • LANGLEY BERKSHIRE, Britain _ Travelport Worldwide Ltd. on Tuesday reported a fourth-quarter loss of $5.8 million, after reporting a profit in the same period a year earlier. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share. Travelport expects full-year earnings in the range of $1.29 to $1.37...

  • *OPEC says 90 percent of oil output cuts made in January. *OPEC wants compliance with cuts even higher, says Sec-Gen. LONDON, Feb 21- Oil prices rose more than $1 a barrel on Tuesday after OPEC said it was sticking to its agreement to cut production and hoped compliance with the deal would be even higher.

  • *France catches up with Germany as election approaches. Feb 21- The euro zone's economy improved sharply this month and enjoyed some rare positive news about jobs, with French business activity unexpectedly matching that in big beast Germany just as its presidential race heats up. "With domestic demand strengthening and a weaker euro boosting orders from...

  • HONG KONG/ LONDON, Feb 21- Annual profit at HSBC Holdings slumped 62 percent and fell far short of analysts' estimates as Europe's largest bank took hefty writedowns from restructuring and pointed to brakes on revenue growth. HSBC shares slid more than 6 percent after the company reported revenues fell by a fifth from 2015, underscoring the challenge the bank...

  • KAMPALA, Feb 21- Uganda's first gold refinery, which opened on Monday, will use raw gold from conflict-ridden South Sudan and Eastern Congo, its owner Africa Gold Refinery said, dismissing activists' concerns that such a move could fuel violence in the region. The refinery, which is in Entebbe, south of the capital Kampala, will process raw gold from the region as...

  • LONDON, Feb 21- OPEC countries are aiming to boost compliance with agreed oil output curbs further from January's high levels in a bid to clear a supply glut that has weighed on prices, the group's secretary general said on Tuesday. Russia and 10 other non- OPEC producers agreed to cut half as much. OPEC Secretary General Mohammad Barkindo said that the production...

  • SHANGHAI/ LONDON, Feb 21- For years, cash-rich Chinese investors have been highly sought after the world over. China's increasing efforts to prevent capital from leaving the country are eroding the confidence of domestic and foreign investors about getting deals done inside and outside of the world's second-biggest economy. Chinese bidders had become...

  • *FTSE 100 down 0.2 pct. *FTSE 350 banks index heads for worst day since Brexit. Britain's blue-chip FTSE index was down 0.2 percent, with HSBC, the first bank to report earnings this week, down 6.5 percent, heading for its worst day in 18 months after its results.

  • *Potential buyers to be tapped in India, Japan, Middle East. SINGAPORE/ NEW DELHI/ BEIJING, Feb 21- China's Sinochem is exploring the sale of its 40 percent stake in Brazil's Peregrino offshore oilfield, four people familiar with the matter told Reuters, a deal that could see the state-owned conglomerate walk away from what was once touted as a key overseas asset...

  • LONDON, Feb 21- European equities edged higher on Tuesday, with optimism generated by encouraging manufacturing surveys outpacing a steep decline in shares of heavyweight bank HSBC after a slump in the lender's annual pre-tax profit. HSBC has been among the best-performing European banks since Britain voted last June to leave the European Union, climbing...

  • Europe's benchmark index of 300 leading shares fell 0.2 percent to 1,459 points, with the region's banking index down as much as 2 percent in early trade. The biggest drag was British-based HSBC, Europe's largest bank by assets. Britain's FTSE 100 bore the brunt of London- listed HSBC's troubles, falling 0.4 percent.

  • In its monthly survey of economic activity across the region, financial information company IHS Markit also said job creation was the best for nine and a half years, as order books and business optimism continued to pick up. The big surprise within the survey was that France appears to be growing slightly faster than Germany for the first time since August 2012.

  • HSBC shares slid more than 6 percent after the company reported revenues fell by a fifth from 2015, underscoring the challenge it faces to boost returns amid low global interest rates and slowing economic growth in its core markets of Britain and China. Europe's biggest bank by assets generated profit before tax of $7.1 billion in 2016 compared to $18.87...