China arrests 21 over $7.6b Ponzi scam

Chinese authorities have arrested 21 people on suspicion of defrauding around 900,000 people of more than 50 billion yuan ($7.6 billion), state media reported, after an online peer-to-peer lender turned out to be a giant Ponzi scheme.
1 February 2016, 18:00 PM

Japan's top steelmaker cuts full-year profit forecast

Nippon Steel & Sumitomo Metal on Monday cut its full-year sales and profit forecast amid a slowdown in China and other overseas markets.
1 February 2016, 18:00 PM

S Korea's exports record biggest drop since 2009

South Korea's exports, the main driver of the national economy, suffered their sharpest drop in more than six years in January, extending what is now a 13-month losing streak.
1 February 2016, 18:00 PM

Asia's factories parched for demand, need stimulus

January updates on Asia's mammoth factory sector released on Monday showed the New Year began much as the old one ended -- with too much capacity chasing too little demand.
1 February 2016, 18:00 PM

Credit Suisse, Barclays to pay $154.3m over 'dark pools'

Barclays and Credit Suisse will pay $154.3 million combined to settle charges that they violated federal securities laws over their so-called "dark pools," the US Securities and Exchange Commission said Sunday.
1 February 2016, 18:00 PM

ATR says signs 1b euro planes deal with Iran

European manufacturer of turboprop aircraft ATR said Monday it had signed a one-billion-euro deal with Iran Air for up to 40 planes after the dropping of US sanctions against Iran.
1 February 2016, 18:00 PM

Travellers' delight: falling oil prices mean cheaper air fares

PLUMMETING oil prices have led to falling plane ticket prices -- and prospects for an even bigger bonanza of consumer-friendly fares in the coming months, airline industry experts say.
1 February 2016, 18:00 PM

Renault opens first China factory

FRENCH car giant Renault opened its first car factory in China on Monday, the last major manufacturer to set up a plant in the country as it looks to tap into the world's biggest auto market.
1 February 2016, 18:00 PM

Oil falls on China data, fading prospect of Opec action

OIL fell on Monday as weak economic data from China, the world's largest energy consumer, weighed on prices and an Opec source played down talk of an emergency meeting to stem the decline.
1 February 2016, 18:00 PM

Nokia-Samsung patent verdict expected within days

Nokia and Samsung are expected to settle their two-year patent dispute within days, with analysts forecasting a one-time payment of hundreds of millions of euros for the Finnish company.
31 January 2016, 18:00 PM

Gulf tourist influx to Bosnia fuels luxury developments

With 360 villas and apartments around an artificial lake, swimming pools, a halal supermarket and a Muslim prayer area, the 'Sarajevo resort' is one of Bosnia's most ambitious residential projects to date.
31 January 2016, 18:00 PM

Mid-tier Chinese banks piling up trillions of dollars in shadow loans

Mid-tier Chinese banks are increasingly using complex instruments to make new loans and restructure existing loans that are then shown as low-risk investments on their balance sheets, masking the scale and risks of their lending to China's slowing economy.
31 January 2016, 18:00 PM

Facebook quarterly profit doubles as user ranks grow

Facebook quarterly profit more than doubles as its ranks swelled during the past year to a mammoth user base of nearly 1.6 billion, the social media giant says.
28 January 2016, 06:05 AM

Sony moves PlayStation business to Silicon Valley

Sony announced Tuesday it is moving its PlayStation business to Silicon Valley and consolidating its game console offerings under one roof.
27 January 2016, 18:00 PM

South Korea exports seen continuing slump in January

South Korea's exports are expected to extend their slump in January as the global economy shows little sign of improving sharply, while inflation is seen likely to have cooled this month as global oil prices fall further.
27 January 2016, 18:00 PM

Britain's unions ready to join fight to stay in European Union

Britain's trade unions are close to joining the push to keep the country in the European Union, bringing grass-roots muscle to a fight that has so far been dominated by big business and bankers, the head of the country's largest union group said.
27 January 2016, 18:00 PM

WEF creates task force with Carney, Rajan to study global financial system

The World Economic Forum (WEF) has created a new task force with Bank of England Governor Mark Carney and his counterpart at the
27 January 2016, 18:00 PM

With China weakening, Apple turns to India

AS China sales show signs of cooling, Apple Inc is touting India's appetite for iPhones, betting that rising wages and an expanding middle class will pull consumers away from the cheap alternatives that currently dominate the market.
27 January 2016, 18:00 PM

Canon profit drops on weak camera demand

Japan's Canon said Wednesday that annual net profit fell 13.6 percent last year owing to weak demand for cameras in emerging economies and a slowdown in China.
27 January 2016, 18:00 PM

P&G profit soars as core sales turn positive

US consumer products giant Procter & Gamble reported a jump in second-quarter earnings Tuesday, despite a strong dollar that continued to depress the value of foreign sales.
27 January 2016, 18:00 PM