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Wires

  • *OPEC, non- OPEC producers review extension of production cuts. SINGAPORE, March 27- Oil prices fell on Monday as rising U.S. drilling activity outweighed talks that an OPEC- led production cut initially due to end in mid-2017 may be extended. "OPEC and non- OPEC decided to get ahead of the game this weekend, announcing they are reviewing whether the output curb deal...

  • *Total borrowings $12.7 bln in 2016 vs $11 bln mid-2014. Neither the Shenzhen- based firm nor local authorities disclosed reasons behind the sales block, yet its predicament was widely interpreted as highlighting the uncertain operating conditions and amounts of debt that Chinese developers faced. In updating earnings, trading of Kaisa's Hong Kong- listed...

  • *China curbs commercial property purchases in Beijing. Hong Kong shares fell, as the market gave a cold welcome to Beijing- backed Carrie Lam, who was elected on Sunday as the city's chief executive. China introduced rules to curb the purchase of new commercial property in Beijing by individuals in the government's latest step to cool the property market, while...

  • Neither the Shenzhen- based firm nor local authorities disclosed reasons behind the sales block, yet its predicament was widely interpreted as highlighting the uncertain operating conditions and amounts of debt that Chinese developers faced. In updating earnings, trading of Kaisa's Hong Kong- listed shares could resume after being suspended on March 31,...

  • LONDON/ HOUSTON, March 27- Royal Dutch Shell Plc and Anadarko Petroleum Corp may let a 10- year joint venture in the oil-rich Permian Basin of Texas expire and split their properties, hoping to speed up development, according to a senior Shell executive. Shell and Anadarko have been discussing how to proceed after the partnership agreement expires this summer...

  • WELLINGTON, New Zealand— New Zealand and China announced Monday they would open talks soon to expand a successful free-trade deal in place for nearly a decade. New Zealand hopes that a renegotiated agreement would allow it to sell more dairy products to China, while China also hopes to sell more goods in New Zealand and erase a small trade deficit.

  • BEIJING, March 27- Profits of Chinese industrial firms surged 31.5 percent in the first two months of 2017 from a year earlier as prices of commodities from coal to iron ore raced higher, while strong imports also pointed to a pick-up in activity. Stronger earnings could give a further boost to fixed-asset investment, which quickened early in the year, and give...

  • TOKYO/ SYDNEY, March 27- The dollar slid to a near two-month low against a basket of currencies on Monday as concerns mounted about the chances of U.S. fiscal stimulus after President Donald Trump's failure to push through a healthcare reform bill. Trump's inability to deliver on a major election campaign promise marked a big setback for a Republican president...

  • TOKYO, March 27- Japanese government bond prices were steady across the board as investors were reluctant to stake out positions ahead of the looming domestic fiscal year-end. Trading volumes were low with many domestic institutional investors having closed their books ahead of the March 31 fiscal year-end. JGB futures did manage to eke out modest gains...

  • *Has close to 3 mln consumer banking clients in South Korea. HONG KONG, March 27- Citigroup Inc plans to double its wealth management assets in South Korea to around $6 billion by 2020, setting up new offices and investing in digital technology to attract new customers. U.S.-based Citi, which is marking its 50th anniversary in South Korea, said it plans to grow its...

  • March 27- Gold rose over 1 percent to touch a one-month high on Monday as the dollar slid after President Donald Trump's failure to pass healthcare reform raised doubts over his ability to push through his economic agenda. 0401 GMT, after hitting $1,257.97, its highest since Feb. 28. "Looks like some people are not happy with Trump's failure over his promises and we...

  • WELLINGTON, March 27- China and New Zealand ramped up their cooperation on Monday, pledging to expand their existing free trade agreement into what visiting Premier Li Keqiang called China's "most advanced" with a developed country. In a column published on Monday in the New Zealand Herald, headlined "To New Zealand, with love", Li wrote that rising international...

  • *Hyundai shuts one plant in China for a week, starting March 24. South Korean companies, from cosmetics firms to retailers, say they are being targeted in China because of Beijing's objections to a planned deployment of the U.S. News of Hyundai's China plant closure, reported by online media ChosunBiz, drove shares of the company down as much as 3 percent on Monday.

  • The economy will grow a solid 2.3 percent this year and 2.5 percent in 2018, according to 50 economists surveyed by the National Association for Business Economics. Most of the economists surveyed assume that a tax reform package will be approved by Congress this year. Shares slipped last week as Congress and the Trump administration failed to agree on a...

  • SEOUL, March 27- Hyundai Motor has suspended production at a China factory for one week starting March 24, online media ChosunBiz reported on Sunday, fueling worries about the impact of South Korea's political tension with China on sales in the automaker's top market. Online media ChosunBiz reported on Sunday that Hyundai Motor's China joint venture has told...

  • TOKYO, March 27- After three decades building an airplane from scratch, Michimasa Fujino, 56, chief engineer of the Hondajet, might have to reach a ripe old age to see Honda Motor Co's pet aviation project recoup its development costs. Honda has declined to reveal the costs, but the automaker has been researching aircraft development since 1986, and Richard...

  • HONG KONG, March 27- China's yuan firmed on Monday, reflecting the U.S. dollar's broad declines as President Donald Trump's inability to pass a healthcare reform bill raised doubts about his ability to see through planned fiscalstimulus measures. The People's Bank of China set the midpoint rate at 6.8701 per dollar prior to market open, firmer than the previous...

  • WASHINGTON— President Donald Trump is set to announce a new White House office run by his son-in-law that will seek to overhaul government functions using ideas from the business sector. Among those working on the effort are National Economic Council director Gary Cohn, Dina Powell, senior counselor to the president for economic initiatives and deputy...

  • SEOUL, South Korea— Asian stocks got off to a weak start on Monday as caution among investors prevailed with lingering doubts about the future policy agenda of the new U.S. administration following the health care reform failure. Stocks in Singapore and other Southeast Asian countries were lower. ANALYST'S VIEWPOINT: "For Asian markets, a turbulent start to the...

  • TOKYO, March 27- Japan's Nikkei share average skidded on Monday, battered by a resurgent yen and deepening last week's 1.3 percent loss. "At a time when there is some degree of policy uncertainty that has emerged in the United States, questions about the timing of when the Trump administration can implement its agenda may be all feeding through into a period of' risk...