BANDAR SERI BEGAWAN, Brunei (AP) — China and 15 other Asia-Pacific nations will kick off the first round of free trade talks next month to create one of the world’s largest trading blocs, officials said Thursday. The Regional Comprehensive Economic Partnership is a rival pact to the U.S.-led Trans-Pacific Partnership, a free trade initiative involving a dozen countries but that …
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After a lethargic year plagued by slow recovery and lukewarm markets, the IMF foresees Asia leading the three-speed global recovery with at least 5.75 percent overall growth in the region, but warns of a financial imbalance in 2013. There will be gradual growth in 2013, and inflation is expected to stay within a manageable range, the International Monetary Fund said …
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The rush to build a more reliable exchange for the virtual currency bitcoin is under way after another price crash on Wednesday disgruntled customers who directed their anger against the alternative currency’s major exchange. Bitcoin proved once again that it’s not for the faint hearted as it lost 60 percent of its value on Wednesday with the biggest exchange Mt.Gox …
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Heightened political tensions have overtaken the eurozone debt crisis and US fiscal shock as the biggest threats to the developing economies in Asia, according the Asian Development Bank (ADB). While “austerity fatigue” in the euro area and “unresolved fiscal drag” in the US remain significant risks to developing Asian economies, escalating border disputes in the region pose the largest menace …
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BANGKOK (AP) — Asian stock markets powered higher Thursday after a U.S. communications company posted a surprise jump in earnings that led to big gains in technology stocks and new highs on Wall Street. Markets took additional encouragement from the release of minutes from the U.S. Federal Reserve’s March meeting, which showed a majority of policymakers in favor of continuing …
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ADB Chief Economist, Changyong Rhee discusses the highlights of ADB’s flagship annual financial publication, Asian Development Outlook 2013 and the forecast for developing Asia.
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Asian stocks rose, with the benchmark regional equities gauge heading for its longest winning streak in seven weeks, as investors speculated stimulus measures will boost economic growth and increase profits. BHP Billiton Ltd. (BHP), the world’s largest miner, climbed 1.7 percent to advance for a fourth day in Sydney, its longest winning streak in more than two months. Mitsubishi UFJ …
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A Chinese proverb tells us that it is wise to learn from your own mistakes but wiser to learn from the mistakes of others. Asian leaders should take this advice to heart as they juggle between policies for social welfare and economic dynamism. By keeping a keen eye on Europe’s fiscal crises, they can avoid the worst of the Continent’s …
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“Look how much faster these economies are growing! Just look at their favorable Balance of Payments! Look at the FDI (Foreign Direct Investment) pouring in! Look at their fiscal health!” These are words I often heard when I arrived in Singapore to run an Asian currency trading business in 2010. The center of economic gravity was moving East – this …
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In late 2012, the Rocky Mountain Institute’s cofounder, chairman, and chief scientist Amory Lovins spent seven weeks in Japan, China, India, Indonesia, and Singapore observing Asia’s emerging green energy revolution. In February 2013, he returned to Japan and China. Japan, China, and India—all vulnerable to climate change—turned out to be in different stages of a “shared and massive shift” to …
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