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Updated: 9 hours 53 min ago

China autos brace for another annual contraction, sales shrink in June

Wed, 07/10/2019 - 15:55
China is likely to see vehicle sales drop again this year as opposed to earlier expectations for zero growth, the country's biggest auto industry association said, after it unveiled data showing the sector contracted for a 12th straight month in June.

Emissions rules and electric shift to spur car engines M&A

Wed, 07/10/2019 - 15:49
A growing understanding in the car industry of the value of combustion engine technology able to meet new anti-pollution requirements is likely to fuel a wave of consolidation in the next two years, industry executives and bankers say.

Ex-chairman of Chinese developer Seazen arrested for child molestation - media

Wed, 07/10/2019 - 15:39
The former chairman of Chinese developer Seazen Holdings Co Ltd, Wang Zhenhua, was arrested for child molestation, the Global Times newspaper, published by the ruling Communist Party's People's Daily, said on Wednesday.

Aggressive U.S. energy policy tests ties with European allies

Wed, 07/10/2019 - 15:38
For the administration of President Donald Trump, a policy of "energy dominance" means reducing dependence on imported oil and promoting exports to boost the national economy and Washington's political influence overseas.

Iraqi oil minister says OPEC deal will lower inventories, stabilise prices

Wed, 07/10/2019 - 15:37
An agreement between OPEC and its allies to extend oil output cuts until the end of March 2020 will lower inventories, help stabilise the market and address price volatility, Iraqi Oil Minister Thamer Ghadhban said on Wednesday.

Japan curbs could drag on, hurt global economy - Moon

Wed, 07/10/2019 - 15:22
Japan's export curbs on key materials used by South Korean tech companies could drag on despite diplomatic efforts to end the dispute, South Korea's president said on Wednesday, pledging to help firms to reduce their reliance on Japanese suppliers.

Greek PM says to submit tax cut plan to parliament in coming weeks

Wed, 07/10/2019 - 15:10
The Greek government will submit a bill to parliament in the coming weeks to cut taxes, newly elected Prime Minister Kyriakos Mitsotakis said at his first cabinet meeting on Wednesday.

Airtel Africa quoted down 10% in pre-market bids after debut listing

Wed, 07/10/2019 - 15:06
Airtel Africa shares fell 10% to 359.40 naira in pre-market bids on Wednesday after its debut $4.4 billion stock market listing on the Lagos bourse a day earlier.

IndiGo shares slump on 'bitter tussle' between founders

Wed, 07/10/2019 - 15:04
An escalating dispute between the co-founders of India's largest airline IndiGo sent the shares of its parent firm tumbling by about a fifth on Wednesday, with allegations of governance lapses raising concerns about the carrier's future.

Kremlin says Rosneft's dispute with Transneft not a matter for Putin

Wed, 07/10/2019 - 15:00
The dispute between Rosneft and Transneft is not a matter for Russian President Vladimir Putin to intervene in because it is a corporate matter, Kremlin spokesman Dmitry Peskov said on Wednesday.

Turkey rejects Greek, EU claims that drilling off Cyprus illegitimate

Wed, 07/10/2019 - 14:58
Turkey said on Wednesday it rejected Greek and European Union assertions that Turkish drilling for gas and oil off Cyprus was illegitimate, and said it showed the EU could not be an impartial mediator on the Cyprus problem.

Euro zone sees economic outlook worsening amid uncertain U.S. trade policy

Wed, 07/10/2019 - 14:56
The European Commission lowered its forecast on Wednesday for the euro zone economy next year, saying that uncertainty over U.S. trade policy posed a major risk to the bloc.

Rouhani says Britain to face 'consequences' for seizing Iranian tanker

Wed, 07/10/2019 - 14:54
Iran's President Hassan Rouhani said on Wednesday Britain would face "consequences" over the seizure of an Iranian oil tanker.

China tech bonds reward investors as trade war fears ebb

Wed, 07/10/2019 - 14:42
The beaten-down bonds of Chinese internet companies have rebounded since the May flare-up in U.S.-China trade tensions, reaping a good profit for investors who braved the storm to buy the dips.

ArcelorMittal South Africa to cut more than 2,000 jobs, shares drop

Wed, 07/10/2019 - 14:34
The South African arm of steelmaker ArcelorMittal expects to plunge to a first-half loss and cut more than 2,000 jobs as it struggles with cheap imports, rising costs and a flagging local economy, it warned on Wednesday.

Gold slips to one-week low on dollar rally, focus on Fed

Tue, 07/09/2019 - 16:30
Gold eased to a one-week low on Tuesday, consolidating below $1,400 as the dollar rallied on expectations of a less dovish U.S. Federal Reserve ahead of testimony from the chairman of the central bank.

Nifty, Sensex erase losses to close little changed

Tue, 07/09/2019 - 16:23
Indian shares recovered from earlier falls to close little changed on Tuesday, with losses in Titan Company Ltd offset by gains in Bajaj Finance Ltd.

Oil rises towards $65 as supply concerns outweigh trade disputes

Tue, 07/09/2019 - 16:22
Oil rose towards $65 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that has been dragging down the global economy and oil demand.

Chinese state media target Macau's Suncity in online gambling report

Tue, 07/09/2019 - 16:19
Macau's biggest junket operator Suncity, which operates VIP gambling rooms around Asia, has raked in billions of dollars in online gaming and proxy betting, causing great harm to China's social economic order, a state-backed report said this week.

Sanrio hit with $7 million EU fine for cross-border sales curbs

Tue, 07/09/2019 - 15:53
Japanese company Sanrio, which owns the Hello Kitty franchise, was fined 6.2 million euros ($6.94 million) by EU antitrust regulators on Tuesday for preventing cross-border sales of its products in Europe.