China's Anbang Insurance Group has agreed to pay 1.13 trillion won ($998 million) to take a controlling stake in South Korean's eighth-largest life insurer Tong Yang Life Insurance, Tong Yang said on Tuesday.
Asia/Pacific
Sony sees 25-fold profit jump by 2018 through videogames, sensors
Sony Corp aims to boost its operating profit 25-fold within three years by focusing on its more profitable image sensors, videogame and entertainment businesses, its chief executive said on Wednesday.
Euro supported by hopes for Greek debt deal; yen awaits Kuroda
The euro held steady on Wednesday, finding some support as investors held on to hopes that Greece will find enough common ground with its euro zone partners and avoid a chaotic exit from the currency union.
BOJ sticks to stimulus plan, is upbeat on output despite weak rebound from recession
The Bank of Japan maintained its massive asset buying stimulus spree on Wednesday and revised up its view on exports and output, even as data showing only a feeble recovery from recession tempers its optimism.
Asia shares rise on reduced Greek pessimism, dollar stands tall
Asian equities tracked a mild bounce on Wall Street, edging higher on Wednesday as pessimism about the Greek debt saga receded somewhat, while the dollar strengthened against the yen thanks to higher U.S. debt yields.
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The euro skidded on Tuesday after a collapse in talks to secure a new debt deal for Greece kept markets guessing about the next chapter in the nerve-wracking saga as Athens tries to secure improved terms with its creditors.
Average new home prices in China's 70 major cities fell for the ninth straight month but showed some signs of stabilizing in the top cities, signaling an improvement in market sentiment after the central bank cut interest rates and lender's reserve requirements.
Brent crude extended its rally on Tuesday, moving further away from six-year lows hit in January, but some analysts warned that prices had risen too far and could face a downward correction.
China needs to guarantee a "bottom line" of 6.5 percent annual economic growth for its 13th five-year-plan, a state newspaper quoted the director of the National Development and Reform Commission (NDRC) Department of Planning, Xu Lin as saying.
Japanese Prime Minister Shinzo Abe said on Monday he hopes the central bank continues with its bold monetary easing campaign to achieve its 2 percent inflation target.
Japanese shipments of traditional flip-phones rose in 2014 for the first time in seven years while smartphone shipments fell, highlighting Japanese consumers' tenacious attachment to the familiar and typically less expensive older models.
Oil prices steadied on Monday as Japan's economy emerged from recession and as strong demand for refined products translated into healthy orders for crude.
Foreign direct investment (FDI) in China grew at its strongest pace in nearly four years in January, surging 29.4 percent from a year earlier to $13.9 billion as investors largely shunned the troubled manufacturing sector and focused on the more resilient services industry.
Japanese shares touched an eight-year high on Monday following a record close on Wall Street, with investors cautiously optimistic the European Union would make progress this week on a debt deal with Greece.
