The latest in East Asia

Analysis: For euro zone, a year of deleveraging dangerously

2011-12-22T07:30:14Z

LONDON (Reuters) - With governments laboring under too much debt and banks hobbled by too little capital, 2012 is shaping up as another year of hard slog for Europe's economy that could yet test the single currency to destruction.

The Netherlands on Thursday became the ...

BOJ keeps policy on hold but cuts economic view

2011-12-20T20:00:08Z

TOKYO (Reuters) - The Bank of Japan kept monetary settings unchanged on Wednesday but cut its assessment of the economy on mounting evidence of the pain Europe's debt crisis is inflicting on global growth and BEIJING (Reuters) - Business sentiment among Asia's top companies slid in the fourth quarter to its lowest in two years, with executives rattled by rising costs and fears over where the global economy is heading.

The Reuters Asia Corporate Sentiment Index fell to 57 in the fourth quarter from 63 i...

China workshops struggle, but tougher times ahead

2011-12-11T20:30:30Z

BEIJING (Reuters) - A broad and bruising downturn is sweeping through China's giant manufacturing sector, ensnaring thousands of factories already fighting for survival in the face of plunging profit margins.

While the misery has not yet reached levels seen in 2008 when global financial turmoil caused tra...

Bayer CEO eyes falling margins in drugs, plastics

2011-12-11T11:30:10Z

FRANKFURT (Reuters) - Bayer expects to see falling profit margins in drugs and plastics as the euro debt crisis sends tremors through economy, chief executive Marijn Dekkers told a German newspaper.

"There is an increasing trend towards cost-cutting on medic...

China's stone workshops silenced by European crisis

2011-12-09T07:00:24Z

DANGCHENG, China (Reuters) - Mournful ancient Roman lovers, a boy Mozart and half a dozen angels lie in weeds behind the padlocked gates of an abandoned sculpture workshop in Dangcheng town, victims of economic waves rippling across the world to this corner of northern China.

...

China expected to grow 8.9% in 2012: report

2011-12-08T04:30:30Z

China will further relax credit restrictions next year as the world's second largest economy slows and exports decline due to woes in Europe and the United States, according to a state-run think tank.

Gross domestic product is expected to expand 8.9 percent next year, according to forecasts by the China pledged support Tuesday for European action on the sovereign debt crisis and expressed hopes that an EU summit this week can help stabilise markets and stop it from spreading.

"The Chinese side will continue to support the building of a unified Europe and support efforts by Europe to overcome the sovereign debt crisis,"...

Asian manufacturing activity weakens in November

2011-12-01T15:30:56Z

Manufacturing activity across Asia weakened in November as the worsening economic crises in Europe and the United States sapped demand for the export-driven region's shipments, data showed Thursday.

Exports are the growth engine for many Asian economies, including China, and a deteriorati...

Morgan Stanley further cuts Asian growth forecast

2011-11-28T04:30:45Z

Morgan Stanley further slashed its growth forecasts for Asia next year due to increasing risks from the debt crisis in Europe and weakening domestic demand.

Asia excluding Japan is now expected to grow 6.9 percent instead of its previous estimate of 7.3 percent, the US bank...

China hit by labour unrest as global slowdown bites

2011-11-27T03:30:29Z

China's manufacturing heartland has been hit by large-scale strikes in recent weeks, as an increasingly demanding workforce faces off with employers struggling with high costs and falling exports.

Thousands of workers in factories in the southern province of Guangdong have gone on strike in recent days, protesting over low salaries, wage cuts or tough conditions, and triggering ...

China factory sector shrinks most in 32 months

2011-11-23T14:30:17Z

BEIJING (Reuters) - China's factory sector shrank the most in 32 months in November on signs of domestic economic weakness, a preliminary PMI survey showed, reviving worries that China may be slipping toward a hard landing and fuelling fears of a global recession.

The steep fall in the China's manufacturing activity slumped to its lowest level in 32 months in November, banking giant HSBC said Wednesday, renewing fears the Asian powerhouse is losing steam amid global economic woes.

The news comes just days after Vice Premier Wang Qishan, China's top finance official, gave a dire warning that ...

East Asia cushioned from global crisis: World Bank

2011-11-22T03:30:18Z

Growth in East Asian economies will slow next year with demand from key export markets in the United States and Europe falling as they struggle with their debt crises, the World Bank warned on Tuesday.

However the region's large foreign reserves and current-account surpluses will cushion it from the impact of a...

World Bank: China faces Europe risk, soft landing possible

2011-11-21T20:30:09Z

TOKYO (Reuters) - China's economy faces growing risks from Europe's sovereign debt crisis and from debt held by local Chinese governments but it could engineer a soft landing by easing monetary policy, the

Global economic outlook grim: Chinese Vice Premier Wang

2011-11-20T18:00:24Z

CHENGDU, China (Reuters) - Chinese Vice Premier Wang Qishan said on Monday that global economic outlook remained grim and that ensuring economic recovery was the overriding priority.

Wang also said that China and the

China vice premier sees chronic global recession

2011-11-19T23:00:13Z

BEIJING (Reuters) - A long-term global recession is certain to happen and China must focus on domestic problems, Chinese Vice Premier Wang Qishan has said.

"The one thing that we can be certain of, among all the uncertainties, is that the ...

Japan urges German 'central role' in euro 'firewall'

2011-11-17T19:30:32Z

Japan called on Germany on Friday to step up and help plug the widening hole in Europe's finances, saying Berlin should play a leading role in creating a debt "firewall".

Finance Minister Jun Azumi said the continent's largest economy needed to do more if Europe was to get out...

Japan ends recession as quake scars heal; outlook dim

2011-11-13T17:30:23Z

TOKYO (Reuters) - Japan's economy rebounded as expected in the third quarter from a recession triggered by a devastating March earthquake on robust exports and consumption, but persistent yen strength and sluggish global growth cloud its outlook.

Companies' efforts to restore supply chains wrecked by the mass...

Obama raises economic rebalancing with Hu

2011-11-12T19:30:09Z

HONOLULU (Reuters) - U.S. President Barack Obama said he planned to discuss the need for a rebalancing of the global economy in a meeting with Chinese President Hu Jintao on Saturday.

Obama, who spoke to reporters ...

IMF chief calls for 'political clarity' in Greece, Italy

2011-11-10T09:30:10Z

The head of the International Monetary Fund called Thursday for greater "political clarity" in Greece and Italy, after talks with Chinese leaders dominated by Europe's worsening debt crisis.

Greece and Italy are grappling with domestic political upheaval brought on by t...

IMF chief warns world economy risks "lost decade"

2011-11-08T20:30:10Z

BEIJING (Reuters) - The head of the International Monetary Fund warned on Wednesday that Europe's debt crisis risked plunging the global economy into a "lost decade" and said it was up to rich natio...

China loan of pandas to France delayed by Greek crisis

2011-11-07T15:30:28Z

China has had to delay the loan of two pandas to France because the Greek debt crisis dominated the G20 summit when they hoped to finalise details, French Ecology Minister Nathalie Kosciusko-Morizet said Monday.

"Things were very far advanced. Unfortunat...

China says Europe will overcome debt crisis

2011-11-06T05:30:04Z

BEIJING (Reuters) - China is confident that Europe will be able to overcome its debt crisis, Foreign Minister Yang Jiechi said, adding stability in the Reuters) - Global factory activity slowed in October on weak demand for exports, with a sharp contraction in Britain's manufacturing sector suggesting that Europe was on the brink of a new recession.

While manufacturing surveys on Tuesday from

Europe will not offer China concessions for aid: Juncker

2011-10-30T12:30:12Z

BERLIN (Reuters) - Eurogroup chairman Jean-Claude Juncker said on Sunday it made sense for China to invest its surplus in Europe to help the region overcome its debt c...

China welcomes consensus reached at EU debt talks

2011-10-27T01:30:13Z

BEIJING (Reuters) - China said on Thursday it welcomed the consensus reached at the European Union's summit to tackle the euro debt crisis and supported measures taken by the bloc.

"We hope that this consensus ... is conducive to boosting market ...

Who's right about commodities: Bears or Bulls?

2011-10-24T19:30:22Z

Retail investors have jumped on board the "good-times commodities train"

In the last few weeks a slow slide in commodity prices – metals in particular – has turned into a full-scale nosedive.

All through 2011 copper had remained essentially between US$4 and $4.50 a pound, but on September 11 it dropped below that range and didn’t really stop falling until October 4, when it bottomed at $3.05. Aluminum gained ground in the first half of...

China confident EU can overcome troubles

2011-10-20T12:00:44Z

Beijing expressed confidence Thursday in Europe's ability to overcome its worst financial crisis in decades, ahead of a China-EU summit on October 25.

Europe's debt crisis will top the agenda when the president of the Euro...

S.Korea to weather recession relatively well: analysts

2011-10-18T06:31:55Z

South Korea's economy is likely to weather the deepening global downturn relatively well in the coming year thanks to sound fundamentals, analysts said Tuesday.

Lee Jong-Hwa, senior adviser to the president for international economy, said despite mounting external shocks, South Korea was armed with foreign exchange reserves exceeding $300 billion.

Its short-term debts among total external liabilities had been ...

India's economy 'is slowing sharply': Moody's

2011-10-17T10:30:56Z

India's slowing economic growth is a "cause for worry", research group Moody's Analytics said Monday, highlighting the failure of aggressive interest rate hikes to curb near double-digit inflation.

India's growth has weakened under the brunt of 12 interest rate increases since March 2010 that have pushed up borrowing costs for everything from consumer appliances to plant ...

IMF says China has scope to respond to global risks

2011-10-12T23:30:11Z

TOKYO (Reuters) - China has the scope to respond if global economic risks materialize, and the country's response could partially but not entirely offset the impact of a global crisis, the International Monetary Fund'...

Next stock market shoes to drop

2011-10-12T19:30:19Z

Europe's crisis appears to have drawn attention away from what's happening in China

Below is an excerpt from a commentary originally posted at www.speculative-investor.com on October 6, 2011.

The U.S. economy is definitely in recession and the recession will probably extend into next year. This isn't necessarily a reason to be concerned about downside risk ...

China bank shares surge on Beijing stake buys

2011-10-11T03:30:28Z

Shares in Chinese banks surged Tuesday after a government investment arm bought stakes in the country's major lenders in a move analysts said was aimed at shoring up support for the flagging market.

Central Huijin Investment, the domestic arm of China's $300 billion sovereign wealth fund, said in a statement it had bought stock i...

Insight: Deflating China's housing bubble

2011-10-06T20:00:06Z

(Reuters) - As housing bubbles go, China's looks relatively benign.

Unlike in the United States, Chinese home buyers typically put down at least 40 percent of the purchase price. That means they don't have to worry about a modest decline wiping out all their equity, and banks have little reaso...

Asia's factories downshift to crisis-era lows

2011-10-03T00:30:04Z

(Reuters) - September factory activity in some of Asia's biggest economies slumped to levels last seen during the depths of the financial crisis as export demand dropped, reinforcing fears that fading U.S. and European growth will spare no one.

Similar figures for Europe and the

Europe, China woes fuel earnings worries

2011-09-30T15:31:06Z

NEW YORK (Reuters) - Investors are worried U.S. earnings growth may finally fall back to earth as turmoil in Europe and signs of a less robust Chinese economy hurt foreign support.

The euro zone's debt crisis and weakness in BEIJING (Reuters) - China's manufacturing sector contracted for a third consecutive month in September, suggesting that the world's second-largest economy is not immune to global headwinds, while factory inflation quickened.

Growing signs of a slowdown in China have prompted concerns that the country that...

Funds rebuild stocks in September

2011-09-29T07:00:24Z

LONDON (Reuters) - Investors are entering the fourth quarter with a slightly raised exposure to shares and holding high reserves of cash that could quickly be used to fuel a stock rally, Reuters polls showed on Thursday.

Surveys of 59 leading investment houses in the United States, mainland Reuters) - The global economy was supposed to be better by now.

Just a few months ago, the prevailing wisdom was that growth was going through a "soft patch" caused by a combination of Japan's earthquake and unrest in the oil-producing Middle East. Once global supply chains got back ...

China urges eurozone to end debt crisis

2011-09-24T19:30:33Z

China on Saturday called on the eurozone to move quickly to end its debt crisis at a meeting of the world's finance chiefs in Washington.

"The sovereign debt crisis in the euro area needs to be resolved promptly to stabilize market confidence," China's central bank chief, Zhou Xiaochuan, said at the Reuters) - Europe and the United States could slip back into recession next year unless they quickly tackle economic problems that could infect the rest of the world, the International ...

Europe and U.S. face 10 years of slow growth: UK's Brown

2011-09-16T01:00:06Z

DALIAN, China (Reuters) - Europe and the United States could face 10 years of slow growth and high unemployment if a global solution for the

2011-09-10T01:00:07Z

MARSEILLE, France (Reuters) - The yen took a back seat at the Group of Seven finance ministers' meeting, which grappled with TOKYO (Reuters) - Japan's economy shrank in the second quarter at a faster pace than initially reported as companies held back on capital expenditure due to worries about a rising yen and faltering global growth.

Economists say Japan is likely to resume growing in the third quarter after three consecutive qua...

This year's biggest opportunity for energy investors

2011-09-08T19:30:09Z

"I think it's a no-brainer to conclude oil could fall down to $70 per barrel"

Let me paint you a picture...

No U.S. job growth in August, massive debt in Europe, China's growth slowing to a crawl... and a growing surplus of oil waiting for delivery at the main market hub in Cushing, O...

China must rebalance economy: World Bank chief

2011-09-05T08:30:09Z

The head of the World Bank on Monday urged China to rebalance its export-driven economy and said taming rising inflation remained the most important challenge for the country in the short term.

Robert Zoellick said the world's second-largest economy would have to focus more on domestic demand, an...

World Bank chief warns of economic 'danger zone'

2011-09-03T04:30:08Z

World Bank chief Robert Zoellick warned Saturday that the global economy was heading into a new "danger zone", as he urged China to speed up structural reforms to help its development.

"The financial crisis in Europe has become a sovereign debt crisis, ...

Analysis: South Korea's reckless consumers edge towards debt

2011-08-25T07:30:09Z

SEOUL (Reuters) - If thrift is an Asian virtue, then it is one that South Koreans are notably lacking: each adult has almost five credit cards on average and the household debt burden exceeds that of the United States before the subprime crisis.

With the growing risk of a global d...

Analysis: Japan's politics offer sober economic policy lessons

2011-08-25T04:30:20Z

LONDON (Reuters) - U.S. and euro zone governments drowning in debt should look no further than Japan to learn what happens when political deadlock stifles decisive policy-making.

As Japan prepares to usher in its sixth prime minister in five years,

China manufacturing contracts in August: HSBC

2011-08-23T03:30:23Z

Manufacturing activity in China contracted for the second straight month in August, early HSBC data showed Tuesday, but the bank said a slight pick-up suggested an economic slump was less likely.

The British banking giant released the figures as export-driven China warned of weakening demand for its overseas shipments and pressure from rising costs amid "an increasingly compl...

Instant view: Japan Q2 GDP shrinks less than forecast

2011-08-14T18:00:06Z

TOKYO (Reuters) - Japan's economy contracted at a slower pace than expected in the second quarter as output and exports recovered from the devastating earthquake in March, but a soaring yen and slowing global growth clouds the outlook.

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KEY POIN...

Asia vulnerable to US recession: Singapore PM

2011-08-14T11:30:15Z

Asia, including China and India, will be vulnerable if the United States and Europe slip into another recession, Singapore Prime Minister Lee Hsien Loong ...

U.S. outlook casts shadow over world economy

2011-08-09T09:00:12Z

BANGALORE (Reuters) - The chances of another U.S. recession are rising and Europe's recovery is also at risk, according to the latest Reuters poll, taken during the worst stock market selloff since the nadir of the financial crisis.

Analysis: Don't bank on China to reprise 2008 global savior role

2011-08-09T05:02:57Z

BEIJING (Reuters) - China is still nursing a hangover from its 2008 stimulus spending spree and may be reluctant to kick off another big round, leaving less potent options on the table should the global economy tilt toward a cliff.

Just two weeks ago, economists were banking on at least one more interest ...

Analysis: No quick cure for slow growth at root of market malaise

2011-08-08T11:30:19Z

LONDON (Reuters) - From the United States and Italy to Japan and Greece, slow growth is hobbling the capacity of governments to service their debts, spooking mark...

Time for US to take responsibility: Chinese state media

2011-08-07T19:30:23Z

Democrats and Republicans in Washington need to stop blaming each other over the unprecedented US credit rating downgrade and find solutions, China's official Xinhua news agency said early on Monday.

The demand came in a lengthy and harshly...

China says debt financing unlikely 'to save' US, EU

2011-08-05T15:30:32Z

China said Friday that debt deals in the United States and in Europe would not be enough to save their economies and "concrete steps" must be taken to rebalance the global economy.

"The only way the Americans have come up with to improve economic growth has been to take on new loans to repay the old ones," a blistering commentary published ...

Europe, Asian factory growth stalls in July

2011-08-01T03:30:08Z

LONDON (Reuters) - Factories in Asia and Europe all but stagnated in July, according to business surveys that showed the weakest rates of growth since major industrial powers were struggling through the 2009 recession.

While stock markets rose on signs of a last minute solution that would avoid a...

Big Firms Prosper as Small Business Struggles

2011-07-28T10:30:24Z

Record corporate profits suggest that the economy should be booming. But small firms — the main engine for job growth — still have it tough, particularly at the bank.

Politics isn’t the only schism in the ...

Cracks appear in China's economic model: analysts

2011-07-24T03:30:21Z

As the United States and Europe struggle with debt crises, China's economy appears in robust health, but analysts say its growth model is too dependent on investment and cannot be sustained.

Sitting on foreign exchange reserves worth nearly $3.2 trillion and with breakneck growth of 9.5 percent in the second quarter, the world's second larg...

Greek bailout deal boosts Asian stocks

2011-07-22T08:30:28Z

Asian shares rose Friday, led by banks, after eurozone leaders finally struck a bailout deal for Greece that also puts in place steps to avoid contagion in other struggling economies.

Relief that the multi-billion-dollar" class="inform">dollar agreement had been reached also sent the euro soaring aft...

Industrials could signal slower growth ahead

2011-07-15T08:31:39Z

NEW YORK (Reuters) - U.S. manufacturers are entering an period where growth is more muted, profit margins are harder to raise and earnings beats are less common.

The easy money has been made, many analysts and shareholders of U.S. industrial stocks say.

General Electric Co's

China growth tops forecast, inflation fight goes on

2011-07-12T22:00:08Z

BEIJING (Reuters) - China's economy slowed less sharply than expected in the second quarter and Beijing said corralling inflation remained its top priority even though a "complex and volatile" global economy clouded the outlook.

Second-quarter gross domestic product rose 9.5 percent from a year earlier, C...

Washington's Last Hope to Prod Economy

2011-07-11T10:30:20Z

Stimulus, easy money, tax relief -- all done with. So what kind of debt deal can really put us on the right track?

Washington has only one course left to give the sluggish economy a badly needed shot of adrenaline: to hammer out a credible plan to pare back the long-term deficit. With the recovery at a plateau and housing still in a deep slump, ...

BOJ to hold fire, tone up optimism on economy

2011-07-05T18:30:13Z

TOKYO (Reuters) - The Bank of Japan is expected to hold off on easing monetary policy further and revise up its assessment of the economy next week, encouraged by a pickup in factory output and recovery in business sentiment hit by the devastating earthquake in March.

But the cent...

Global economy hits soft patch, should avoid double-dip: S&P

2011-07-05T15:30:23Z

The global economy has hit a "soft patch" due to the disruption caused by Japan's March earthquake but emerging market growth should prevent a double-dip recession, Standard and Poor's said on Tuesday.

In a report on the risks of the economy falling back into recession, S&P said the damage to international supply chain systems from the devastating earthquake in Japan ap...

Japan May factory output jumps by most in nearly 60 years

2011-06-28T21:00:08Z

TOKYO (Reuters) - Japanese factory output jumped by the most in almost 60 years in May as manufacturers restore supply chains damaged by the massive earthquake and tsunami in March, the latest evidence the economy is headed for a "V-shaped" recovery from the disaster.

Manufacturers, however, forecast smaller gains in output in coming months as they a...

It Just Feels Like a Double-dip Recession

2011-06-22T10:30:19Z

With housing continuing to wallow at the bottom and millions of pink-slipped workers still unemployed, it seems as if the economy is sliding back into recession. But is it?

The economy seems especially fragile these days, as if the SEOUL (Reuters) - Samsung Electronics and other Asian technology stocks tumbled on Friday as the sputtering global economy threatens to crimp demand for computers and TVs and hit earnings of chip and panel makers for the rest of the year.

Investors,...

BOJ's Nakamura upbeat on Japan recovery

2011-06-02T02:00:15Z

NARA/TOKYO, Japan (Reuters) - Bank of Japan board member Seiji Nakamura said solid global growth will help Japan's recovery accelerate later this year but warned that the country cannot...

US recovery slows, fueling stagnation fears

2011-06-01T19:30:40Z

Revelations that key sectors of the US economy were pummeled last month have rekindled fears that the world's largest economy faces protracted high unemployment and lackluster growth.

Exactly two years after the recession officially ended, weakness in the jobs, housing and manufacturing sectors left economists scrambling to downgrade their growth predictions on Wednesday.

"This week is the most important week for asses...

Crisis, stagflation stalk global recovery: OECD

2011-05-25T12:30:21Z

Crisis still stalks the global economy with stagflation lurking and Japan set for recession this year despite moderate overall recovery, the OECD said on Wednesday, warning against complacency.

The Organisation for Economic Cooperation and Development held its 2011 global growth forecast st...

Bank of Japan chief sees signs of recovery

2011-05-25T08:46:38Z

Japan's central bank chief on Wednesday likened the economic slump following the March 11 earthquake to the crisis following the collapse of Lehman Brothers -- but said there were already signs of recovery.

An increasing number of plants are resuming production while there are signs of improved sales at department stores, snapping a plunge in consumer spending immediate...

'Stagflation' risk threatens global growth: OECD

2011-05-25T07:30:28Z

Crisis still stalks the global economy with stagflation lurking and Japan set for recession this year, even though overall activity is staging a moderate recovery, the OECD said on Wednesday.

The Organisation for Economic Cooperation and Development held its 2011 global growth forecast stea...

Recovery takes a breather

2011-05-22T12:30:07Z

WASHINGTON (Reuters) - It was fun while it lasted.

After several strong quarters, the global economic recovery appears to be sputtering. In particular, the industrial sector, a key driver of the bounce-back from a historic worldwide recession, looks to be fraying.

"People need to seriously consider the scenario where global industrial growth, once again, starts to throttle back -- beca...

Quake knocks Japan into recession

2011-05-19T06:00:36Z

TOKYO (Reuters) - Japan's economy shrank much more than expected in the first quarter and slipped into recession after the triple blow of the March earthquake, tsunami and nuclear crisis hit business and consumer spending and tore apart supply chains.

The Japan's economy plunged back into recession in January-March, contracting sharply on the impact of the nation's biggest recorded earthquake, a tsunami and a nuclear crisis, data showed Thursday.

The economy shrank by a much worse-than-expected 3.7 percent year on year, marking the second consecutive quarter of contraction, which economists define as a technical recession.

In the aftermath of the disasters, output saw its biggest ever ...

Japan economy slumps more than expected in first quarter

2011-05-18T17:30:15Z

TOKYO (Reuters) - Japan's economy shrank in the first quarter at nearly double the pace expected, effectively slipping into recession as the devastating earthquake in March hit business spending and private consumption.

Gross domestic product fell 0.9 percent in the first quarter, much more than a median mark...

GE sees best profit outlook in a decade, execs say

2011-04-27T12:00:11Z

SALT LAKE CITY (Reuters) - General Electric Co sees its best earnings growth prospects in a decade as the global economic recovery drives demand for the heavy energy and aviation equipment it makes, top executives said.

R...

China sovereign wealth fund eyeing Europe despite risks

2011-04-18T10:00:59Z

BOAO, China (Reuters) - Europe is likely to be hit the hardest among major economies by a potential global slowdown in 2012, but China's $300 billion sovereign wealth fund is still looking for investment opportunities there, its head said on Saturday.

Lou Jiwei

U.S. confident Japan will handle economic challenges

2011-03-14T12:30:25Z

WASHINGTON (Reuters) - The United States is confident Japan will be able to handle economic challenges in the wake of the earthquake and tsunami, and does not expect the disaster to stall the world's recovery from economic recession, a TOKYO (Reuters) - The Bank of Japan eased its ultra-loose monetary policy further on Monday by expanding its asset-buying programme while keeping rates on hold.

KEY POINTS:

-- The BOJ kept interest rates unchanged at a range of zero to 0.1 percent by a unanimous vote.

...

Tokyo, Moscow have highest expat rents: survey

2011-02-16T08:30:26Z

Expats living in Tokyo are paying more rent than anywhere else in the world due to the soaring yen, while those in Hong Kong would have seen theirs rise 22 percent, a survey has revealed.

For the privilege of living in the Japanese capital an expatriate would have forked out an average $4,352 a month for a two-bedroom apartment last year, the annual report by human resources consultant

Recession did not cut back pollution: US agency

2011-01-31T18:30:30Z

The worst global recession in 80 years did little to reduce the emission of greenhouse gases into the atmosphere, and China made a major polluting leap, US figures showed on Monday.

According to data from the US Energy Information Administration, US carbon emission...

Davos highlights economic power shift to East, South

2011-01-26T10:30:35Z

Power in the global economy is shifting from the advanced world to Asia as recovery takes hold, Davos analysts said Wednesday, as political and business elites began their annual meeting.

"What is really happening is a slowdown of the western world and the growth of the emerging markets. This is a complete shift in the balance of power," Azim Pre...

China' s Hu urges US to ease high-tech exports

2011-01-20T19:30:29Z

President Hu Jintao urged the United States to ease restrictions on high-tech exports to China after Beijing and Washington signed $45 billion in trade deals during his US visit.

"China wishes to work with the United States to f...

China backs Spain to emerge from crisis

2011-01-03T10:30:48Z

China is confident Spain will recover from its economic crisis and Beijing will buy Spanish public debt despite market fears of an Irish-style bailout, a top Chinese official said Monday.

The comments by Vice Premier Li Keqiang were made in an op-ed piece in Spain's leading daily

China pledges support for troubled Spain economy

2011-01-03T03:30:21Z

China is willing to make "positive efforts" to help Spain with its economic recovery, state media on Monday quoted Beijing's ambassador to Madrid as saying, as a top Chinese official prepared for a visit.

Vice Premier Li Keqiang will pay a three-d...

China minister warns EU debt crisis could turn 'chronic'

2010-12-24T04:30:11Z

China's commerce minister has warned that measures being taken in Europe to fix the sovereign debt crisis are "turning an acute disease into a chronic one", state media said Friday.

The comments from Chen Deming come after China said this week it supported measures taken by the

Euro heads higher against dollar

2010-12-23T09:30:35Z

The euro, which was slammed this year by the eurozone debt crisis, edged higher against the dollar on Thursday in muted pre-Christmas trade, as dealers digested a fresh message of support from China.

In morning deals, the European single currency rose slightly to 1.3102 dollars, compared with 1.3095 late in New York on Wednes...

China pledges support to eurozone countries

2010-12-23T07:30:18Z

China on Thursday pledged its backing to eurozone countries amid an ongoing debt crisis and said Europe would be a "major market" for investment of Beijing's massive foreign exchange reserves.

"We are ready to support the eurozone countries to overcome the financial crisis and realise economic recovery,...

Japan forecasts GDP growth to slow in 2011

2010-12-22T07:30:31Z

The pace of Japan's economic growth will halve in fiscal 2011 from this year as a stimulus-driven shopping rush eases and exports fall on a strong yen and softer demand, the government said Wednesday.

In its outlook report, the Cabinet Office also said consumer prices will stop falling but will not rise, dealing a blow to Prime Minist...

Top business story: Economy grows but hiring lags

2010-12-21T09:30:23Z

Top business story of 2010: Economy makes gains, but unemployment remains chronically high

In 2010, the economy rebounded fitfully from the Great Recession — starting strong, wobbling at midyear but showing enough vigor by year's end to quell fears of a second recession. Yet Americans hardly felt relief under the weight of high unemployment, which began the year at 9.7 percent and is now 9.8 percent.

An oil spill devastated the economy and environment ...

SKorea announces levy on bank foreign borrowing

2010-12-19T06:31:42Z

South Korea announced plans Sunday for a levy on foreign borrowing by banks in another attempt to curb potentially destabilising capital inflows.

The move is the latest in a series of measures by emerging markets to curb a flood of capital from the United States and elsewhere, which is pushing up the value of their currencies.

As pre-emptive and precaut...

Asia retail sales tipped to be double US by 2014

2010-12-13T13:30:43Z

Incentives to kickstart spending by Asian governments after the global downturn will help the region post retail sales almost double those of North America within four years, a report said on Monday.

The region will also post sales three times more than Western Europe, said the study by account U.S. special envoy on North Korea, Stephen Bosworth before their meeting at the Foreign Ministry in Seoul Wednesday, Jan. 5, 2011. (AP Photo/Jung Yeon-je, Pool)

South Korea Koreas Nuclear

2011-01-05T01:31:07Z

U.S. special envoy on North Korea, Stephen Bosworth, left, and South Korea's chief nuclear negotiator Wi Sung-lac attend talks at the latter's office in Seoul, Wednesday, Jan...

South Korea US Koreas Clash

2011-01-04T02:30:23Z

Stephen Bosworth, US special representative for North Korea policy, talks to reporters upon his arrival at Incheon international airport, west of Seoul, Tuesday, Jan. 4, 2011. Bosworth arrived in Seoul for talks on North Korea's nuclear...

APTOPIX South Korea Koreas Clash

2011-01-03T07:31:38Z

South Korean Army's 155 mm howitzers fire during a military drill near the demilitarized zone, which has separated the two Koreas since the Korean War, in Chulwon, north of Seoul, South Korea, Monday, Jan. 3, 2011. South Korea's president vowed Monday not to let North Korea "cove...

North Korea Koreas Clash

2011-01-03T04:31:29Z

Ctizens attend a rally in support of North Korea's "joint new year editorial" in the city's central Kim Il Sung Square, in Pyongyang, North Korea Monday, Jan. 3, 2011. In the North Korean capital, tens of thousands gathered Monday for the annual New Year rally to display loyalty to leader K...