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  • JAKARTA, Aug 5- The Indonesian economy will find it hard to meet the government's expectation for 5.2 percent growth this year, an official at the statistics bureau said on Wednesday. Consumption accounts for 55 percent of Indonesia's GDP. Indonesia's government targets 5.7 percent growth this year according to the 2015 state budget.

  • CAIRO— Egypt is to unveil a major extension of the Suez Canal on Thursday, a mega-project that has emerged as a cornerstone of President Abdel-Fattah el-Sissi's efforts to restore national pride and revive the economy after years of unrest. The 1869 inauguration of the canal linking the Red Sea to the Mediterranean was hailed as a leap into the modern age, and...

  • TOKYO, Aug 5- Toshiba Corp's chief executive apologized to Prime Minister Shinzo Abe's office on Wednesday after revelations of wide-spread accounting irregularities at the industrial conglomerate embarrassed government efforts to improve the country's corporate governance. An independent inquiry last month found Toshiba had inflated its profits...

  • TOKYO, Aug 5- Japan's Nikkei share average posted modest gains on Wednesday as stronger earnings buoyed construction firms and real estate developers, but Toyota Motor and other cyclical shares buckled under concerns about slower global growth. Construction firms were helped by earnings from Kajima Corp, which rose more than 6 percent to a nine-year high...

  • TOKYO, Aug 5- Toshiba Corp's chief executive apologised to Prime Minister Shinzo Abe's office on Wednesday after revelations of wide-spread accounting irregularities at the industrial conglomerate embarrassed government efforts to improve the country's corporate governance. An independent inquiry last month found Toshiba had inflated its profits...

  • *Sat on Alibaba's board since its 2014 IPO. HONG KONG, Aug 5- Alibaba Group Holding Ltd is hoping a Canadian Olympic gold medallist once tipped to be the next chief executive of Goldman Sachs Group Inc will help them make it big in the United States. Michael Evans, who turns 58 this month, retired from the U.S. investment bank in 2013, having forged a reputation as one of...

  • MUMBAI, Aug 5- Nestle SA's Maggi noodles comply with food safety standards, authorities in India's Goa state said, in the first such ruling since the popular instant snack was pulled from stores after another state lab reported high lead content. Nestle was drawn into its worst crisis in India when food safety inspectors in Uttar Pradesh found high lead content...

  • The victory is set to give Japan's largest carrier access to Skymark's 36 landing and take-off slots at Tokyo's popular Haneda airport, helping it cement its growing domestic dominance over Japan Airlines. ANA has a track record of operating airlines in Japan, has already discussed business plans with Skymark and other stakeholders and is close to Prime...

  • SHANGHAI, Aug 5- China is planning to set up "network security offices" in major Internet companies and for websites so authorities can move more quickly against illegal online behaviour, the Ministry of Public Security said in a statement. Authorities have been tightening control over domestic Internet in recent years and have at times admonished social...

  • TOKYO, Aug 5- ANA Holdings Inc won the backing of creditors to lead a turnaround of bankrupt Japanese discount carrier Skymark Airlines Inc, defeating a rival plan that proposed Delta Air Lines as its sponsor, a participant at the creditor meeting said. ANA's chance of winning the sponsorship role increased after Airbus Group, Skymark's second-biggest...

  • *India also considering small local tax on sugar- sources. NEW DELHI, Aug 5- India is likely to bring in rules to make it compulsory for sugar mills to export millions of tonnes of surplus supplies to support local prices, sources said, in a move that could quell growing anger among farmers but add to a glut on global markets. If approved, India could overtake Australia...

  • JAKARTA, Aug 5- Indonesia's economic growth in the second quarter dropped to its slowest since 2009, with prices for commodity and energy exports remaining weak and President Joko Widodo unable to push badly needed infrastructure projects past bureaucratic snarls. Southeast Asia's largest economy expanded 4.67 percent in April-June compared to the same...

  • HOUSTON, Aug 5- As oil prices entered a second steep slide a few weeks ago, bullish traders and analysts had hoped for a repeat of the sharp but short dip that occurred early in the year- a speculative slide below $50 a barrel followed by a quick recovery. Some are now reconsidering that view, as long-term oil prices take the lead in the market's latest dive, swaying...

  • SHANGHAI, Aug 5- China's yuan kept steady against the dollar on Wednesday, with the market showing little reaction to a staff report recommending the International Monetary Fund to put off adding the yuan to its currency basket. The People's Bank of China set the midpoint rate at 6.1186 per dollar prior to market open, almost unchanged from the previous fix...

  • Secretary of State John Kerry on Wednesday urged China to end provocative land reclamation projects in the South China Sea and work out effective resolutions to territorial disputes with its smaller neighbors that have ratcheted up tensions in some of the world's busiest commercial sea lanes. Chinese land reclamation in contested waters has irked...

  • SINGAPORE, Aug 5- Benchmark Brent crude oil prices rose above a key support level of $50 on Wednesday, recovering from multi-month lows, as investors await U.S. oil inventories data to gauge supply. "The market is still digesting news of Iran coming back with more supply," Ben Le Brun, a markets analyst at OptionsXpress in Sydney said. September Brent crude rose 35...

  • JAKARTA, Aug 5- Indonesia's economy grew 4.67 percent in the second quarter, dropping from 4.71 percent in the first quarter to post its slowest growth since 2009, the statistics bureau said on Wednesday. A Reuters poll of analysts had expected growth at 4.61 percent. GDP in the second quarter grew 3.78 percent from the January-March quarter, on a non-seasonally...

  • HONG KONG, Aug 5- China stocks fell on Wednesday, shrugging off a vow by the central bank to stabilise market expectations and a private survey which showed activity in the services sector activity accelerated last month. China CSI300 stock index futures for August fell 2.2 percent to 3,752.8, or 136.23 points below the current value of the underlying index,...

  • KEEPING SCORE: Japan's Nikkei 225 rose 0.7 percent to 20,666.74 and South Korea's Kospi added 0.1 percent to 2,030.11. Stocks in Taiwan, India and Southeast Asia rose. Also on Friday, the Institute for Supply Management, a trade group of purchasing managers, issues its index of non-manufacturing activity for July, which shows the status of U.S. service firms that...

  • Aug 5- General Electric Co said on Wednesday it is developing a cloud-based service tailored for industrial customers, the latest step in the U.S. conglomerate's effort to gain business from data generated by machines. GE Chief Executive Jeff Immelt has bet on developing analytics and software for customers of the company's jet engines, power-generating...