Tuesday, March 31, 2009
Sony Cuts Price on PlayStation 2 to $99
Sony is cutting the price of its PlayStation 2 console by 23% to under $100 as it tries to keep the momentum going for the older videogame system.
OECD Cuts India Growth Forecast
There is room for India's central bank to cut interest rates further, the Organization for Economic Cooperation and Development said while slashing its forecast for the country's 2009 economic growth to 4.3%., ... http://link.gs/Iha8
Indian Telecom Firms Can Offer Services Using Dual Technology
India's telecom disputes arbitrator has upheld the federal government's decision to allow companies to offer mobile phone services under two competing technologies., ... http://link.gs/UUEK
Volkswagen Opens India Car Plant
Volkswagen said it will start production at its India factory in May, as global auto makers seek to expand into this potential growth market amid shrinking sales in the U.S. and Europe., ... http://link.gs/3Huv
Boeing: Don't Expect Indian Carriers to Defer, Cancel Orders
Boeing reiterated that it doesn't expect any Indian carriers to defer or cancel orders already placed with the U.S. plane maker despite a slowdown in the air travel sector., ... http://link.gs/1atT
G-20 Working Group Pushes for Capital Buffers
A G-20 working group called for more hedge-fund oversight and said financial institutions should build up strong capital bases in good economic times so they can better weather periods of financial turbulence., ... http://link.gs/9F8n
North Korea Plans to Indict Reporters
Two American journalists suspected of committing "hostile acts" against North Korea and entering the country illegally will be indicted and put on trial, Pyongyang's state-run news agency said.
Bollywood Actor Barred From Contesting Polls
India's Supreme Court ruled that actor Sanjay Dutt, who has served nearly two years of a six-year prison sentence for illegal arms possession, cannot contest India's general elections next month.
Pakistan Gets World Bank Loan
Pakistan has received a $500 million loan from the World Bank to help stabilize the economy, an official at the country's central bank said.
AirAsia Seeks Lower Landing Fees
AirAsia is pushing state-controlled Malaysia Airports to introduce lower landing fees at a planned low-cost terminal in Kuala Lumpur.
Gandhi Family Scion Targets Youth Vote
Rahul Gandhi, whose family has ruled India off and on through three generations, embarks Tuesday on a national campaign to retain his party's hold on power by courting the young., ... http://link.gs/CM3v
Sahara Takes Jet Airways to Court
Jet Airways said Sahara India Commercial has moved the Bombay High Court, seeking an increase in the payment that the carrier made to acquire Sahara Airlines., ... http://link.gs/pWqc
Indian PM Seeks Credible Actions From G-20
Developing countries are facing the worst impact of the global slowdown and the meeting of the Group of 20 countries should address this by coordinated and purposeful actions, Indian Prime Minister Manmohan Singh said., ... http://link.gs/xTeG
Wockhardt Hospitals Looking for Minority Investor
Wockhardt Hospitals is looking for a minority investor to help it raise additional capital and continue to grow., ... http://link.gs/iGRN
ADB: Monetary Policy to Help Revive India Growth
India's inflation is likely to be 3.5% in 2009 and 4% next year and the country will lean on its monetary policy to help revive its slowing economy in the short term, the Asian Development Bank said., ... http://link.gs/haXz
Boeing Opens Research, Technology Center in India
Boeing said it opened a research and technology center in India, its third outside the U.S., ... http://link.gs/WKJc
Senators Target Chinese Drywall
Two U.S. senators are seeking a ban on certain Chinese-made drywall while further tests are conducted on the material, which is believed to be emitting unpleasant odors and causing air-conditioner problems.
China Moves Closer to Nasdaq-Style Market
China's securities regulator issued a rule governing IPOs in the planned Growth Enterprise Market, paving the way for a Nasdaq-style stock market in China.
ADB Cuts 2009 Growth Forecasts
Economic growth in developing Asia will slump this year to its slowest pace since the Asian financial crisis, the ADB said, calling on governments to pursue "active" fiscal policies.
Militants Vow More Attacks in Pakistan
A militant group claiming responsibility for the deadly assault on a police academy threatened it will carry out more attacks.
Japan Plans New Stimulus Package
Japanese Prime Minister Taro Aso formally ordered yet another stimulus package to jolt the nation's economy out of what appears to be its deepest slump in the postwar era.
China, Argentina Agree Currency Swap
Argentine officials are hopeful a new currency swap deal with China will bolster confidence in the peso and help defend the currency.
China, Argentina Agree Currency Swap
Argentine officials are hopeful a new currency swap deal with China will bolster confidence in the peso and help defend the currency.
Oz Minerals Gets Second Minmetals Bid
OZ Minerals received an incomplete alternative proposal from China Minmetals that would see the Chinese group acquire most of its assets apart from Prominent Hill.
Deadline Looms for Filipino Hostages
Al-Qaeda-linked militants the in southern Philippines said they will stick to a Tuesday deadline to behead one of three Red Cross hostages unless government troops withdraw.
Nikkei Gains; Korean Autos Rise
Asian shares were mixed Tuesday as concerns lingered over the U.S. automobile and financial sectors, while Korean car stocks recovered. The Nikkei rose 1.6%.
Gandhi Family Scion Targets Youth Vote
Rahul Gandhi, whose family has ruled India off and on through three generations, embarks Tuesday on a national campaign to retain his party's hold on power by courting the young.
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, ... Monday, March 30, 2009
Macau Casino Lenders Will Take a Loss
A theme-park and casino development in Macau and its hedge-fund backers have hammered out a plan for restructuring a loan of about $340 million that was made in the heyday of Macau's casino-building boom.
Khmer Rouge Trial Opens in Cambodia
The first trial opened at a genocide tribunal in Cambodia for former leaders of the Khmer Rouge.
U.S. Fears North Korean Missile Sales
A successful launch by North Korea would lead to the sale of long-range missiles to other countries, U.S. military officials said.
U.N. Food Agency Warns on Prices
The U.N. warned that tight credit could make it harder for farmers to expand production, increasing the chances of soaring food prices.
North Korea: U.S. Reporters Face Trial
North Korea's state-run news agency says two American reporters detained earlier this month will be tried for illegal entry and hostile acts.
Areva to Start Operations at 8 New India Plants
Areva said it will start operations at eight new factories in India this week as it tries to capitalize on rising demand for energy in the world's second-fastest growing major economy., ... http://link.gs/wSt6
Godrej Consumer Looking for Acquisitions Abroad
Godrej Consumer Products is looking for acquisitions worth up to $1 billion abroad as it wants to sell its products in countries like China, Brazil and Nigeria., ... http://link.gs/1aiy
IDBI Fortis Expects to Break Even in 6 to 7 Years
A falling appetite for high-risk investments has increased demand for IDBI Fortis Life Insurance's capital-guaranteed and return-assured products - which will help the company break even in the next six to seven years., ... http://link.gs/FP52
SBI Mutual Launches Gold ETF
SBI Mutual Fund launched a gold exchange-traded fund and said it expects the plan to collect 1.5 billion to 2.0 billion rupees of investments initially., ... http://link.gs/e8uG
India Panel Says Financial Market Reforms Must Be Gradual
India should have a gradual approach to introducing more financial market reforms, including opening up the economy further to foreign banks and allowing more overseas investment in local debt instruments., ... http://link.gs/4yrG
Wide Cyber Attack Linked to China
Researchers discovered software capable of stealing information on computers in 103 countries, an apparently coordinated attack.
BYD Seeks Deals on Car Batteries
BYD, a fledgling Chinese auto maker, is in talks to supply its battery technology to other car companies in Europe and the U.S.
Court Set to Rule on PCCW Plan
A judge is set to decide this week whether to approve Hong Kong tycoon Richard Li's $2.1 billion effort to take telecom operator PCCW private.
Anwar Expects Further Crackdowns
Malaysian opposition leader Anwar Ibrahim again warned that the rise to power of Deputy Prime Minister Najib will likely provoke a further crackdown on dissent.
Fujitsu Aims to Boost Market Share
Fujitsu said it aims to expand its market share for the most common type of computer server to more than 10% from the current 4% in an unspecified time frame.
Want to Sell in a Downturn? India's Retailer-in-Chief on What Marketers Miss
The big cities get all the attention, but that's not where the money is, explains Kishore Biyani, CEO of Future Group., ... http://link.gs/EUAD
Reliance Stops Oil Output From KG Basin
Reliance shut its oil production facility in the Krishna Godavari basin to hook up additional wells, a person familiar with the matter said., ... http://link.gs/sRUO
India to Infuse Capital in United Bank of India
The government will infuse 8 billion rupees ($158.4 million) in United Bank of India over two years as part of the state-run lender's capital restructuring plan., ... http://link.gs/ASeh
India Bank Goes on Lending Spree
State-owned State Bank of India is lending like the global credit crisis never happened as it looks for places to park billions of dollars in new deposits., ... http://link.gs/Wkb4
Indonesia Dam Burst Kills at Least 91
Attention shifted to caring for more than 1,600 homeless and hungry survivors after a dam burst outside the Jakarta. More than 100 people are still missing.
China Envoy Reassures on Dollar
China's ambassador to the U.K. said Beijing isn't calling for a new global reserve currency to replace the dollar.
China Unlikely to Get More IMF Power
Despite China's stated willingness to increase funding for the IMF, it is unlikely to get a commensurate increase in voting power, a European Union official said.
Funds Wary of Risk in China Real Estate
China's real-estate market remains risky and unattractive for foreigners, property fund executives said.
U.S. to Allow North Korea Test Launch
Defense Secretary Gates all but ruled out the possibility of the Pentagon taking military action to prevent a North Korean rocket test next month.
Book Stokes Nationalism in China
A hot-selling new book that excoriates the U.S. and calls for China to be more assertive is fueling a debate among Chinese about their country's role in the world.
Pakistan's Sharif Urges Political Unity
Pakistani opposition leader Sharif says he is ready to work with the government now that President Zardari has met key demands.
India Bank Goes on Lending Spree
State-owned State Bank of India is lending like the global credit crisis never happened as it looks for places to park billions of dollars in new deposits.
Gunmen Attack Pakistan Police Academy
Militants raided a police training center in the eastern Pakistani city of Lahore, killing at least 20 officers and wounding 34 others in one of the most organized terrorist attacks yet in the country hard-hit by violence.
Japan Can Boost Fiscal Stimulus
Economy and Finance Minister Kaoru Yosano said Japan is prepared to implement economic stimulus steps that will "far exceed" 2% of gross domestic product.
Nikkei Slumps 4.5% as Autos Tumble
Asian shares tumbled with auto and financial stocks leading losses as the U.S. negotiated a new federal aid package for auto makers. The Nikkei fell 4.5%.
Qian Hu Chief Aims to Blend Best of East, West
Kenny Yap, head of Singapore-listed Qian Hu, continues to invest in research and training in anticipation of better times ahead., ... http://link.gs/vpyB
Sunday, March 29, 2009
U.S. Downplays G-20 Goals
U.S. officials are backing off their once-lofty goals for the Group of 20 summit Thursday in London, downplaying fiscal stimulus targets they were pushing earlier in the month.
Higher Energy Prices Sink Chalco's 2008 Net
Aluminum Corp. of China said its 2008 net profit plunged nearly 100% from a year earlier and that it expects to swing to a net loss in the first quarter of 2009.
Economic Woes Stoke Thai Discontent
Antigovernment protests offer Thailand's new leaders -- and the rest of Asia -- a jarring reminder of the political risks accompanying the region's sharp economic decline.
China Marks Takeover of Tibet
Testimonials about old Tibet kicked off celebrations for the newest holiday on China's political calendar -- an anniversary that marks its overturning of the region's feudal hierarchy.
Afghan President Backs U.S. Strategy
Karzai offered support for the new U.S. strategy in Afghanistan, praising increased aid and highlighting a plan for reconciliation with Taliban moderates.
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