Asia News

Sri Lanka buying gold 'to diversify reserves'

AFP - Sunday, November 8

COLOMBO (AFP) - - Sri Lanka's central bank on Saturday said it has been buying gold to diversify its reserves amid volatile currency markets, days after India announced it had purchased 200 tonnes of the precious metal. More »

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China eyes home demand not exports-stats official
Reuters - Sunday, November 8
BEIJING, Nov 7 (Reuters) - China is not counting on a quick rebound in the world economy to fuel growth but will concentrate instead on boosting home-grown demand, Yao Jingyuan, chief economist at the National Bureau of Statistics, said on Saturday.
GM in talks to bring Chinese cars to India: report
AFP - Sunday, November 8
NEW DELHI (AFP) - - US auto giant General Motors is in advanced talks with its Chinese partners on a proposal to bring their vehicles to India, according to the Press Trust of India.
HSBC slashes prize money of Women's Champions
AFP - Saturday, November 7
SHANGHAI (AFP) - - Global banking giant HSBC said it was renewing its sponsorship of the Women's Champions tournament for the next three years, but prize money would be slashed.
Pakistani c.bank buys 85.40 bln rupees of govt paper
Reuters - Saturday, November 7
KARACHI, Nov 7 (Reuters) - Pakistan's central bank bought back 85.40 billion rupees ($1.02 billion) of treasury bills and government bonds on Saturday in 7-day reverse-repo contracts at 12.13 percent to inject funds into the money market.
China state firms to pay less in dividends-report
Reuters - Saturday, November 7
BEIJING, Nov 7 (Reuters) - Chinese state-owned firms will pay a smaller cumulative dividend to the central government this year because their profits have fallen, the Economic Observer reported on Saturday.
CORRECTED-OFFICIAL-Indonesia, Newmont unit agree stake sale
Reuters - Saturday, November 7
(Newmont corrected its statement in fifth para, to say PT Newmont Nusa Tenggara, not foreign shareholders, will grant a payment)
Obama will push economic rebalancing on China trip
Reuters - Saturday, November 7
By Caren Bohan and Patricia Zengerle
US OKs two more import probes against China
Reuters - Saturday, November 7
* US trade panel approved imported paper, salt probes
EU, India hope for FTA in 2010 but hurdles remain
AFP - Saturday, November 7
NEW DELHI (AFP) - - The European Union and India pledged Friday to push ahead with attempts to conclude a free-trade agreement next year but said much hard work needed to be done to break logjams holding up a deal.
AES sells stake to China sovereign fund for $1.58B
AP - Saturday, November 7
ARLINGTON, Va. - Global power company AES Corp. said Friday it is selling a 15 percent stake in itself to China's investment arm for $1.58 billion in a move to raise cash to develop projects around the world.
Thaksin on a mission to humiliate Thai government
AP - Saturday, November 7
BANGKOK - Thailand's fugitive former prime minister Thaksin Shinawatra has spent much of the past three years roaming the globe, shopping for diamonds in Africa, golfing at Asian resorts _ and humiliating the government from a distance.
Scotiabank inks China banking partnership
Reuters - Saturday, November 7
* Allows immigrants to open Scotia account in China
Japan dep finmin Noda wants China to free up yuan
Reuters - Saturday, November 7
DUNDEE, Scotland, Nov 6 (Reuters) - Japan's deputy finance minister called for China to run a flexible exchange rate on Friday.
Mittal fuels fashion passion with Escada purchase
AFP - Saturday, November 7
FRANKFURT (AFP) - - Megha Mittal stepped into the fashion spotlight Friday with the purchase of troubled high-end German brand Escada, backed by the clout of in-laws who own the global steel giant ArcelorMittal.
India, EU to resolve generic drug dispute-minister
Reuters - Saturday, November 7
* India, EU officials to meet later in November
Indian bond yields edge up, auction well received
Reuters - Saturday, November 7
* Result of $1.9 bln bond auction better than market hopes
Coal India to appoint independent adviser for IPO
Reuters - Saturday, November 7
MUMBAI, Nov 6 (Reuters) - State-run Coal India, the country's biggest coal miner, has been advised by the government to appoint an independent financial adviser for a potential initial public offering, its chairman said on Friday.
India cbank to auction 70 bln rupees of T-bills Nov 11
Reuters - Saturday, November 7
MUMBAI, Nov 6 (Reuters) - India's central bank said on Friday it would sell 50 billion rupees of 91-day and 20 billion rupees of 182-day treasury bills on Nov. 11.
India cbank sets rate of interest on 2012 FRB
Reuters - Saturday, November 7
MUMBAI, Nov 6 (Reuters) - India's central bank said on Friday it had set a rate of interest of 4.63 percent per annum on the floating rate bonds due 2012, with a validity between Nov. 10, 2009 to Nov 9, 2010.