Asia/Pacific

Holcim

India regulator says Holcim-Lafarge merger may hurt competition

A planned merger by Switzerland's Holcim Ltd and France's Lafarge to create the world's biggest cement maker might hurt competition in India, the country's antitrust regulator said on Saturday, asking the firms for more details.

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China's President Xi Jinping

China commits $45.6 billion for economic corridor with Pakistan

The Chinese government and banks will finance Chinese companies to build $45.6 billion worth of energy and infrastructure projects in Pakistan over the next six years, according to new details of the deal seen by Reuters on Friday.

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People's Bank of China

China's rate-cut likely to hurt banks, curb new loans to small borrowers

China's latest interest rate cut is set to dent the profitability of domestic lenders, especially mid-sized banks, which are already suffering from higher bad loans and a slowdown in profit growth.

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Eric Garcetti

Los Angeles mayor presses China to allow more Hollywood films

A flurry of private Chinese investment into Hollywood should prompt Beijing to loosen its restrictions on U.S. film imports, the mayor of Los Angeles said in China on Friday as he urged officials to raise the country's annual cap on foreign films.

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Industrial and Commercial Bank of China

China's ICBC to set up offshore yuan center in Los Angeles

China's Industrial and Commercial Bank (ICBC) signed a pact with the Los Angeles city government to promote cross-border yuan trade and set up an offshore renminbi center in California, the bank said on Saturday.

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Shinzo Abe

Japan's Abe: return to yen strength would lead to hollowing out, job losses

Japanese Prime Minister Shinzo Abe said on Friday if the country returns to a period of excessive yen strength it would lead to a further hollowing out of manufacturing and job losses.

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Li Keqiang

Chinese premier urges 'new growth engines' amid slowing economy: Xinhua

Chinese Premier Li Keqiang has called for "new growth engines" to counter slowing growth in the world's second largest economy, Xinhua reported late on Friday.

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People's Bank of China

PBOC cuts benchmark interest rates

Recently released Chinese data suggest a grim economic outlook for the country. Foreign direct investment has been consistently declining; consumer price index showed some stability this month but remained below 2 percent, flash manufacturing PMI also declined in November and gross domestic product fell to its slowest pace since the global financial crisis, registering 7.3 percent year-on-year expansion in the third quarter.

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Cruede Oil

Falling oil prices influencing global monetary policies

While the fall in the oil prices is generally regarded as positive for many businesses, it has a major influence on inflation expectations, interest rates and bond prices at the global level.

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Uber

Singapore to regulate taxi-booking apps Uber, GrabTaxi

Singapore said on Friday it plans to regulate fast-growing third-party taxi booking services like Uber and GrabTaxi for the first time, capping fees and requiring them to dispatch only licensed cabs and drivers.

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Alibaba Group Holding Ltd. initial public offering (IPO)

Alibaba prints jumbo deal without China premium

Alibaba Group Holding (BABA.N) sold the largest bond by an Asian company last night via a $8 billion six-tranche offering. The tight pricing achieved on the deal led many to believe the US-listed Chinese ecommerce giant got away without paying a Chinese premium.

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Taro Aso

Japan finance minister Aso: recent yen weakening 'too rapid'

Japan's finance minister warned on Friday about the yen's weakening, describing it as "too rapid", but he stuck to the government's stance of allowing markets to determine exchange rates and dismissed the need to intervene to halt the slide.

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Infosys

Infosys unit's overbilling Apple led to exit of top executives: sources

Indian outsourcing major Infosys Ltd's back-office services unit was overcharging Apple Inc, leading to the exit of top executives, two senior Infosys people said on Thursday.

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Yen

Asia shares take comfort from U.S. data, yen nurses losses

Asian shares took solace from data showing broad U.S. economic strength even as signs of spreading weakness in China and Europe checked risk appetite, while the yen nursed its losses after sliding to multi-year lows against the dollar and euro overnight.

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Alibaba Group

Alibaba to launch international version of Taobao marketplace

Jack Ma, the founder of China's Alibaba Group Holding Ltd (BABA.N), said on Thursday the firm will set up an international version of its e-commerce marketplace Taobao to serve shoppers worldwide in multiple languages, including English and Chinese.

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