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Updated: 9 hours 7 min ago

SK China to set up $850 million fund with China's Hillhouse Capital: Korea Economic Daily

Sun, 12/01/2019 - 18:58
A Chinese unit of South Korea's SK Group has decided to set up an investment fund worth 1 trillion won ($848 million) with Hillhouse Capital, Korea Economic Daily said on Sunday, citing investment banking sources.

Between Black Friday and Cyber Monday, pope condemns 'virus' of consumerism

Sun, 12/01/2019 - 18:57
Pope Francis on Sunday urged people to resist the excesses of consumerism in the period leading up to Christmas, calling it a virus that attacks faith and offends the needy.

Bangladesh plans to ban e-cigarettes amid growing health concerns

Sun, 12/01/2019 - 18:55
Bangladesh plans to prohibit the sale and use of electronic cigarettes and vaporisers, a health official said on Sunday, as countries around the world move to ban devices that have been linked to health risks and teen addiction.

Nissan, Renault, Mitsubishi Motors agree to form new venture for advanced R&D - Kyodo

Sun, 12/01/2019 - 12:16
The Nissan Motor Co , Renault SA and Mitsubishi Motors Corp alliance has agreed to form a new company focused on research and development of advanced automotive technologies, Kyodo News said.

India plans to invest $1.39 trillion in infrastructure to spur economy

Sun, 12/01/2019 - 11:25
India will unveil a series of infrastructure projects this month as part of a plan to invest 100 trillion rupees ($1.39 trillion) in the sector over the next five years, the finance minister said on Saturday, in a push to improve the country's economy.

Asian refiners strive to finish IMO preparations in hunt for profits

Sun, 12/01/2019 - 10:37
At SK Energy's largest refinery in South Korea, engineers are rushing to complete a new processing unit ahead of schedule as the firm looks to boost sales of low-emission fuels before new marine fuel standards take effect in just one month.

China will not resort to quantitative easing - PBOC governor

Sun, 12/01/2019 - 09:52
China's central bank governor Yi Gang said in a signed article published on Sunday that Beijing should maintain "normal" monetary policy as long as possible since economic growth is still within a reasonable range and inflation is mild overall.

U.S. Black Friday shoppers stay away from stores, make $7 billion-plus splurge online

Sun, 12/01/2019 - 08:56
U.S. shoppers made more purchases online on Black Friday than in the mall - hurting traffic and sales at brick-and-mortar stores, according to data that offered a glimpse into what is still one of the busiest shopping days of the year.

South Korea November exports plunge as China-U.S. deal still in dark

Sun, 12/01/2019 - 08:32
South Korean exports in November fell for the 12th month in a row and far more than expected, denting hopes for the global manufacturing sector stabilising as a much-awaited China-U.S. trade deal is still in darkness.

Morphosys CFO says tafasitamab drug sales potential above $1 billion: magazine

Sat, 11/30/2019 - 23:03
German biotech company Morphosys' tafasitamab, the group's most advanced drug which is currently being tested, has sales potential of significantly more than $1 billion a year, its finance chief said in remarks to a magazine.

Fiat Chrysler reaches tentative labor deal with United Auto Workers

Sat, 11/30/2019 - 23:01
Fiat Chrysler Automobiles NV and the United Auto Workers (UAW) union on Saturday announced a tentative agreement for a four-year labor contract, a boost for the automaker as it works to merge with France's Groupe PSA.

China to use drug bulk-buy program to close price gap

Sat, 11/30/2019 - 23:00
China will use its national drug bulk-buy scheme to lower the price of drugs currently sold at higher prices compared with other markets, it said in an official statement.

Yes Bank seeks up to $2 billion in preferential new share issue

Sat, 11/30/2019 - 21:01
Yes Bank Ltd aims to raise up to $2 billion in a massive issue of new shares to institutional investors and wealth managers as it soaks up the impact of bad loans in the country's crisis-hit shadow banking and real estate sectors.

Malaysia to examine ringgit's fall as import costs sting: Mahathir

Sat, 11/30/2019 - 20:18
Malaysia's government will discuss a depreciation of the ringgit that is making imports more expensive and raising living costs, Prime Minister Mahathir Mohamad said on Saturday, addressing one of the biggest criticisms of his administration.

Turkey and Azerbaijan mark completion of TANAP pipeline to take gas to Europe

Sat, 11/30/2019 - 20:08
Turkey and Azerbaijan formally marked the completion of the Trans-Anatolian Natural Gas Pipeline (TANAP) on Saturday, a milestone in a major project to help reduce Europe's dependence on Russian gas.

AfDB approves $210 million loan for Nigeria's power transmission project

Sat, 11/30/2019 - 20:02
The African Development Bank (AfDB) has approved a $210 million loan to help Nigeria upgrade its dilapidated electricity transmission and distribution network.

Tesla move will draw further companies into Germany - state premier

Sat, 11/30/2019 - 17:08
Tesla's announcement earlier this month that it will build its first European factory near Berlin will draw further companies from the electric mobility and energy storage sectors into Germany, a state premier told newspaper Die Welt.

China's factory activity unexpectedly returns to growth in November

Sat, 11/30/2019 - 09:18
Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing's accelerated stimulus measures to steady growth.

That frenzied Black Friday crush? Not this year

Sat, 11/30/2019 - 05:27
The frenzy associated with Black Friday shopping was missing this year as U.S. retailers offered earlier discounts and more consumers shopped online, though spot checks around the country showed traffic picked up after a sluggish morning.

Wall Street slips as U.S.-China tensions weigh, investors watch retail

Sat, 11/30/2019 - 03:57
Wall Street's major indexes ended Friday's shorter session lower as U.S.-China discord over Hong Kong fuelled investor anxiety about trade talks and retail stocks dipped as in-store Black Friday sales appeared to draw smaller crowds.