News Tag: Asia
March 16, 2010
The US central bank, the Federal Reserve, is expected to keep interest rates at the rate of between zero and 0.25% at a meeting later today.
Interest rates in the world’s largest economy have been at the low level since December 2008 and the bank has previously said that as a result of subdued inflation and high unemployment, ...
Fed widely expected to leave interest rates on hold today
by Kay Murchie
March 1, 2010
Prudential, which is Britain’s second largest insurer, is understood to be in ‘advanced talks’ to acquire AIA, the Asian arm of US company American International Group (AIG).
AIA is a key part of AIG with around 20 million customers and reports say the deal could cost about $30 billion (£19.6 billion).
In order to finance the deal, Pru is understood to be ...
Prudential in advanced talks with AIA
by Kay Murchie
February 22, 2010
There was further evidence of Asia leading the global recovery today after Taiwan's economy grew at an annualised rate of 18% in the final quarter of 2009.
The strong performance was fuelled by demand for hi-tech products from top buyer China and other key export markets in the region.
Last month, Taiwan exports experienced their strongest growth in more ...
Taiwan and Thailand’s GDP surges due to demand from China
by Kay Murchie
February 5, 2010
Debt concerns in Europe have resulted in heavy falls across Asian stock markets today with Japan's Nikkei index fell nearly 3% and stock markets in Hong Kong, Korea and China experiencing heavy declines.
The Nikkei fell almost 300 points to 10,057.1 - its lowest level in two months. Hong Kong‘s Hang Seng Index lost 592.31 points to 19,749.33 in morning ...
European debt fears send Asian stocks down
by Kay Murchie
January 27, 2010
Japan's exports jumped for the first time in 15 months in December to reach 5.4 trillion yen (£37 billion) - up 12% compared with a year ago.
Shipments to Asia, which account for more than 50% of Japan's total shipments, soared by almost a third (31.2%) to 3 trillion yen.
Japan's exports to China surged 42.8% to 1.1 trillion yen due to a ...
Japanese exports up 12% on year
by Kay Murchie
January 26, 2010
The International Monetary Fund (IMF) has raised its forecast for the global economy in its latest World Economic Outlook report.
The IMF believes the global economy will grow by 3.9% in 2010, up from the 3.1% forecast it published late last year.
The increase in its projection comes as it emerged that the UK exited recession in the fourth quarter by experiencing ...
IMF increases growth forecasts for global economy
by Kay Murchie
January 18, 2010
The International Monetary Fund (IMF) has today warned that the global recovery “remains very fragile“.
Dominique Strauss-Kahn of the IMF said the global economy has been stronger than expected and China and developing Asian economies are leading the way in the global economic recovery but warned all major economies of an early withdrawal from stimulus packages.
He said stimulus measures have led to a ...
IMF: Asia leads global recovery
by Kay Murchie
December 9, 2009
London-based bank Standard Chartered today issued a positive statement and said it is on target for a record profit this year.
The bank, which has a strong presence in Asia, said that in the 11 months to the end of November it had delivered a strong performance with "record levels of income and operating profit before tax."
However, since details of the ...
Standard Chartered on track for record profit
by Kay Murchie
November 13, 2009
Business leaders of 21 member economies from Asia and the Pacific Rim have gathered together for their annual forum and their primary focus this year was about the global economic downturn.
The region’s leaders said that Asia is ‘leading the world out of the recession’. The Asia-Pacific Economic Co-operation’s (Apec) positive comments reflect those from the International Monetary Fund, which last ...
Asia ‘leading world out of economic downturn’
by Kay Murchie
French economy grows for second consecutive quarter
by Kay Murchie
August 24, 2009
US light crude hit $74.49 (£45) a barrel by afternoon in Europe today - after reaching $74.81, its highest intra-day price in ten months, on the back of increasing demand.
Meanwhile, London's Brent crude was 16 cents higher to $74.35 a barrel.
This resulted in stock rising in BP, Royal Dutch Shell, BG Group and Cairn Energy, all ...
Oil price hits 10-month high on back of economic recovery
by Kay Murchie
June 23, 2009
Stock markets in Asia have experienced a fall in today’s trading after yesterday’s World Bank report provided a gloomy assessment.
Both the US and Europe experienced declines yesterday following the report which predicted that the global economy would contract by almost 3% this year - revised from an earlier forecast of 1.7%.
London’s FTSE 100 lost over 100 points to close ...
Fears over global economy sends stock markets down
by Kay Murchie
October 10, 2008
Following the sharp falls in Asian stock markets today, Europe has followed suit as the global financial turmoil continues.
Tokyo’s Nikkei-225 index shed 9.6% and saw its biggest fall in a single session since Black Monday in October 1987. At the end of trading on Friday, Tokyo shares had plummeted 24% during the week.
Meanwhile, the financial crisis has claimed ...
European shares tumble, FTSE hits five-year low
by Kay Murchie
June 16, 2008
Barclays has confirmed it is close to raising £4 billion in a placing with some largest sovereign wealth funds in the world. The announcement has put an end to doubt surrounding the banking giant.
The placing is expected to be finalised within 2 weeks and will involve issuing new shares to investors at a premium to last Friday’s closing price of 318p. ...
Barclays close to raising £4 billion
by Kay Murchie
