Latest Asia News
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Asia shares mixed ahead of Bernanke testimony
Asian shares were mixed on Tuesday after a dip on Wall Street ahead of testimony from the US Federal Reserve chief and a policy meeting of the Japanese central bank. The dollar turned higher against the yen in Asia as investors waited for Fed chairman Ben Bernanke's testimony on the US economic outlook to Congress on Wednesday. Tokyo stocks rose 0.13 percent or 20.21 points to 15,381.02, ...
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Asia Naphtha-S Korea YNCC seeks vols for 1-year period
SINGAPORE, May 21 (Reuters) - South Korea's YNCC is seeking naphtha for a one-year period starting July 2013 and ending June 2014, traders said on Tuesday. Traders had said on Monday South Korea's top ethylene maker Lotte Chemical's unit Titan, based in Malaysia, was seeking up to 130,000 tonnes, also for July 2013 to June 2014 arrival at Pasir Gudang. It was not clear how ...
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Burberry profit rises 14 percent on Asia retail growth
LONDON (Reuters) - British luxury group Burberry said full-year pretax profit rose a better-than-expected 14 percent on strong retail growth in Asian markets, where it is increasing numbers of Burberry branded stores. Burberry, known for its ...
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EURUSD had started to move higher in Asia
EUR/USD drifted cautiously higher. There was very little important news to guide the price action. There were hardly any data in the US or in Europe. So, the focus was on the Fed exit debate. Markets are awaiting the appearance of Fed's Bernanke before the Joint Economic Committee of Congress on Wednesday, looking for clues on the timing of the Fed's exit. Recent soft eco data suggest ...
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Myanmar Muslims jailed for killing Buddhist monk
MEIKHTILA, Myanmar -; Six Muslim men and one minor have been sentenced to jail terms ranging from life to two years in prison for involvement in the killing of a Buddhist monk during sectarian violence in central ...
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Business Briefs May 21
* Phu My Hung Corporation last week held ceremony to mark its 20 years of operation in Vietnam. During the period, the firm has developed 84 projects and around 12,000 housing units. Currently, there are around 25,000 people living in Phu My Hung new urban area in HCM City’s District 7. * Electro-Voice has introduced ZLX loudspeakers of 12 and 15 inches in Vietnam with prices ranging ...
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The Asian stock indexes slipped
The appetite for risk was neutral in FX in the Far East. Most foreign currencies consolidated after profit taking boosted them on Monday from their recent losses. While the yen remains near a 4 1/-year low, the Aussie is attempting to separate itself from an eleven-month low. The Asian stock indexes slipped. The short-term outlook for most foreign currencies is sideways. The medium-term outlook ...
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Chinese analysts defend Sino-India trade imbalance
China's growing surplus in trade with India, an issue of concern to New Delhi, is difficult to resolve and is likely to widen, Chinese experts said. The trade imbalance has come up during the current India visit by Chinese Premier Li Keqiang. Trade between India and China is one of the fastest growing, although the two Asian neighbors have longstanding border disputes that resulted in a ...
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Tough oil market forces trading firms in Asia to cut jobs reshape
* At least 15 trade staff have left since late last year * Low European demand, China exports hit middle distillates * Trade firms seek revenue from LNG, agriculture, assets By Florence Tan and Jessica Jaganathan SINGAPORE, May 21 (Reuters) ...
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REFILE-GLOBAL MARKETS-Dollar firms as suspense builds Asia shares dip
Tue May 21, 2013 2:30am EDT * Dollar index firmer, but down from near 3-year high * MSCI Asia Pacific ex-Japan slips 0.2 percent * Nikkei up slightly, hits 5-1/2-year high By Masayuki Kitano and Vidya Ranganathan SINGAPORE, May 21 (Reuters) - The U.S. dollar inched up against major currencies but stayed well off highs on Tuesday as investors cautiously traded expectations of whether Federal ...
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Oil price rises to near $97 per barrel
BANGKOK -; The price of oil rose toward $97 per barrel Tuesday, but gains were checked as investors waited for the Federal Reserve's latest views on the U.S. ...
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Australian zoo says white rhino birth sign of hope
An Australian zoo said on Tuesday the birth of a southern white rhinoceros was a "sign of hope" for the species given the escalation of poaching in ...
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Monster tornado rips apart Oklahoma at least 91 dead
Oklahoma City has risen to 91, including at least 20 children, an official told CNN early Tuesday. Amy Elliott, of the state medical examiner's office, said in a televised interview that 40 more bodies had been recovered since an earlier toll of 51, after the massive twister flattened several suburban blocks and two schools. Stunned weather forecasters reported a two-mile (three-kilometer) ...
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Israel fires back at Syria after gunshots at its troops
Israeli soldiers walk together during a training close to the ceasefire line between Israel and Syria on the Israeli occupied Golan Heights May 7, ...
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Guatemalas top court annuls Rios Montts genocide conviction
Rios Montt was found guilty of overseeing the killings by the armed forces of at least 1,771 members of the Maya Ixil population during his 1982-83 rule in ...
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Death toll rises to 21 in Indonesian mine collapse
TIMIKA, Indonesia (AFP) - The death toll from a mine tunnel collapse in eastern Indonesia has risen to 21, the US operator said Tuesday, as rescuers searched for another seven workers now also presumed dead.The accident happened on May 14 at Freeport-McMoRan's Grasberg, one of the world's biggest gold and copper mines in mountainous, remote Papua province, and 10 workers were rescued ...
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Japan mayor says S Korean troops abused women
South Korean soldiers were guilty of abusing women in wartime, Osaka's mayor said in comments reported Tuesday, days after provoking a storm by labelling sex slaves a military ...
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Asia Pacific leaders call for efficient use of water resources
The second Asia-Pacific Water Summit (APWS) ended yesterday with two versions of the Chiang Mai Declaration. The official declaration by leaders of 40 countries highlighted the need to encourage the inclusion of disaster risk reduction in the United Nations' development agenda beyond 2015, upgrade regional cooperation, promote the efficient use of water resources, and forge better ...
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Ray Manzarek keyboardist and founding member of rock group The Doors dies at 74 from cancer
FILE - In this undated publicity file photo, members of the Doors, from left, John Densmore, Robbie Krieger, Ray Manzarek and Jim Morrison, pose for a portrait. Manzarek, the keyboardist who was a founding member of The Doors, has died at 74. Publicist Heidi Robinson-Fitzgerald says in a news release that Manzarek died Monday, May 20, 2013, at the RoMed Clinic in Rosenheim, Germany, surrounded ...
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Yahoos rise in Asia offsets risk from Tumblr bet
By Alexei Oreskovic SAN FRANCISCO (Reuters) - Yahoo Inc Chief Executive Marissa Mayer's 721.2 million pounds acquisition of blogging service Tumblr will be a test of her ability to revive the aging Web portal. Luckily for her, her performance may ...
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Obama Chinas Xi to meet earlier than expected amid issues from North Korea to cyberspying
BEIJING, China - China's new leader Xi Jinping will confer with President Barack Obama next month in California, months earlier than their expected first meeting, as both sides seek to stem a drift in relations, troubled by issues from cyberspying to North Korea. The June 7-8 meeting at a retreat southeast of Los Angeles, announced Monday by the White House, underlines the importance of ...
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Chinese fishing boat crew released by North Korea
BEIJING -; The owner of a Chinese fishing boat seized for ransom by unidentified North Koreans says the boat and its 16 crew members have been ...
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Asian Markets Mixed Amid Cautious Trades
markets are exhibiting a mixed trend on Tuesday with investors mostly treading cautiously amid a lack of fresh triggers. The overnight weak close on Wall Street is weighing on sentiment to an extent. Also, following recent strong upmove, investors appear a bit reluctant to indulge in any aggressive buying for now.In the Australian market, consumer discretionary, financial, healthcare and ...
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North Korea releases detained Chinese sailors Xinhua
North Korea has released 16 Chinese fishermen and their boat, Chinese state-run media said Tuesday, after reports that armed assailants had taken the sailors hostage and demanded a ...
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New crossroads of Asia
That is how Myanmar is being portrayed, and not without reason. For both China and the United States, the stakes couldn't be higher. China has invested heavily in the country. According to an article published recently in the New York Times "the pipelines are finished. The oil storage tanks gleam in the tropical sun. The deep-sea port set in jade-coloured waters awaits the first ships ...
South East Asia Digest
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Southeast Asia's growing prominence in world trade
Southeast Asia has been, for many centuries, a major part of world trade and the recent recession has not hampered this position as the region is recovering much faster than many more developed countries.
Southeast Asia, although geographically large, covering an area of around 5 million square miles, is comparatively small economically in relation to the number of people that inhabit the area. The Southeast Asian region is home to over 500 million people and yet the region’s GDP is just US$1.5 trillion, or around US$2,500 per person annually. Read more
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