Tag Archives: news

Asian stocks advanced, heading for a record 10th weekly advance, and crude oil gained after U.S. jobless claims held at a four-year low and German business confidence exceeded forecasts. The MSCI Asia Pacific Index added 0.3 percent as of 9:45 a.m. inTokyo, while Standard & Poor’s 500 Index futures gained 0.1 percent. The Australian dollar strengthened 0.1 percent and South …

India has proposed setting up a multilateral bank that would be exclusively funded by developing nations and finance projects in those countries, two government officials with knowledge of the matter said. The plan has been circulated to the countries in the so- called BRIC group — Brazil, Russia, India and China — as well as to South Africa, an Indian …

LONDON, Feb 23 (Reuters) – A controversial plan by Goldman Sachs to issue an Islamic bond has ignited a wider debate on whether conventional banks in the West should be allowed to engage in Islamic finance. At a major conference of Islamic scholars and bankers in London this week, much of the public and private discussion was devoted to whether …

(Source: Asia Tech News) New information from the International Finance Corporation and the World Bank confirms what we’ve been talking about on this blog for some time now. Singapore is one of the friendliest environments on the planet for entrepreneurs. The latest Doing Business report ranks Singapore at the top of its ‘ease of doing business’ rankings for the sixth …

The Alibaba Group offers up to $2.5 billion to take its Hong Kong-listed B2B trading platform private, four years after the company went public. The market gave a thumbs up yesterday to Alibaba Group’s proposal to privatise its Hong Kong listed business-to-business (B2B) unit Alibaba.com a little more than four years after it went public. Or how else does one …

BEIJING: China’s manufacturing activity continued to contract in February as export orders weakened, HSBC said, in a further sign that the eurozone crisis and US weakness are hurting demand. HSBC’s preliminary purchasing managers index rose to 49.7, the highest level in four months, from a final reading of 48.8 in January, the British banking giant said in a statement, released …

SHANGHAI: One of China’s biggest train makers said Wednesday it plans to raise 7.1 billion yuan (US$1.1 billion) through a rights issue, after a fatal crash last year starved the sector of funds. State-owned China North Locomotive and Rolling Stock Industry Corporation (CNR), which makes trains for the Beijing-Shanghai high-speed rail line, will use the funds to upgrade technology and …

Singapore is poised to become the Asian centre for synthetic exchange-traded funds, stealing the spotlight from Hong Kong as regulators there become increasingly stringent, according to a report by advisory firm Celent. The report, published Thursday, highlighted the changing regulatory landscape in Hong Kong and said tougher rules governing synthetic funds in Asia could stunt continued ETF growth in the …

NEW DELHI: India, China, the US, Russia, Brazil and another 21 nations have decided to retaliate against the EU decision to collect billions of dollars every year by unilaterally imposing a carbon tax on flights landing in Eurozone. The retaliatory measures decided include reviewing or abrogating the bilateral service agreements and open skies’ agreements with each European country, suspending all …

The central bank’s anti-inflationary stance has hurt the country’s economic growth, the government said on Tuesday, but it exuded confidence that the current deceleration was a temporary blip. The economy should soon clock a double-digit growth, Finance Minister Pranab Mukherjee said here. The comments come less than a month ahead of the Reserve Bank of India’s monetary review and the …