A British executive heading the mainland financial operations of GlaxoSmithKline (GSK) has been barred from leaving China as the government ratchets up the pressure on the pharmaceutical sector with a new campaign. Steve Nechelput, who is based in Shanghai, was asked not to leave the country late last month but was not formally detained or arrested, as part of the …
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Chinese online retail giant Alibaba said Friday it would pay $294 million for a 28 percent stake in China’s leading digital map provider, AutoNavi, its second big purchase in two weeks. Alibaba, the world’s largest online retailer, bought an 18 percent stake in China’s dominant microblog provider Sina Weibo for $586 million in a separate transaction announced on April 29. …
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TOKYO — Toyota (IW 1000/8) has accelerated past Samsung Electronics to become Asia’s biggest company by market value, after the automaker’s shares doubled in the past year. Toyota’s market capitalization stood at 22.23 trillion yen ($217 billion) on Thursday, beating out the Galaxy smartphone and tablet computer giant which was worth the equivalent of 20.32 trillion yen. Toyota, also the world’s biggest …
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TOKYO, May 16 (Reuters) – Japan’s economy grew faster than expected in January-March, expanding at its quickest pace in a year on the back of solid private consumption and a rise in exports spurred by Prime Minister Shinzo Abe’s aggressive monetary and fiscal stimulus. Thursday’s Cabinet office data showed, however, that corporate investment has yet to follow to ensure a …
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“Fulfillment of targets in key infra areas will act as a stimulus. While the gross savings rate in FY13 was 30.5%, the investment rate was 35%. With investment rates being high, clearing bottlenecks will unleash growth,” Rangarajan explained. He further pointed out that domestic liquidity management can be done via open market operations (OMO) and not just CRR. “Sometimes calibrated …
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About the Book It would not be a cliche to describe the strategic contours of Asia as being at the crossroads of history. A number of significant events are influencing the likely course that the collective destiny of the region could possibly take in the future. Some of the key issues and trends have been analysed in this year’s Asian Strategic …
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MUMBAI, May 10 (Reuters) - India's NSE index rose on Friday to its highest close since January 2011, as ITC rose to a record on expectations foreign investors will continue to scoop up domestic blue chips, while Maruti Suzuki surged after the yen slid against the dollar. The NSE index has gained 2.5 percent this week, marking its fourth consecutive …
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GREATER NOIDA, INDIA – Asia-Pacific finance chiefs vowed to work together to further local growth during the Asian Development Bank’s annual meeting, but acute friction among the region’s three largest economies — China, Japan and South Korea — cast a shadow over this ambition. With no signs of its ties improving with Beijing and Seoul, Tokyo sought to use the ADB …
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Huawei Consumer Business Group CEO discusses the company’s products and the challenges it faces going global. CNN
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