Asia

Oil price gets below $39 for first time since 2009, China economic slowdown to blame?

When oil prices went below $42 per barrel, there were analysts that predicted it might even go as low as $15. It seems like this may soon happen as oil price continues to down, presently at $39.

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Japan's 0.4% deflated economy, assault to 'Abenomics'

Japan's economy has been facing tough times when its economy began to contract by 0.4% in the year's second quarter. It was an official data shown on Monday emphasizing how the prime minister's 'Abenomics' growth program doesn't work.

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Food prices at its lowest in 6 years: Here are the reasons why

The UN FAO reported low food price index - the lowest in six years. If the situation persists, the price drop will be welcomed by consumers globally, which is also beneficial for poor countries. But the plentiful supplies of these products may also have a negative impact for farmers with prices not enough to cover for production costs.

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Swiss banks step up battle for Asia's super-rich

UBS's giant banner on Hong Kong's One Peking Road skyscraper, so big it has drawn complaints for keeping solar panels in the shade, is a testament to the renewed push among Swiss banks to win business from Asia's burgeoning ranks of millionaires.

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Tesla's stock down 6% as it lowers car delivery forecast

Tesla's stock dropped more than 6% in after-hours trading Wednesday after the electric automaker said it might not be able to deliver as many cars as it had planned for this year. That's despite better-than-expected second quarter results.

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Tata Motors to grow exports of trucks to offset slow India sales

Tata Motors Ltd (TAMO.NS), India's biggest automaker by revenue, plans to triple exports of its trucks and buses to countries in Asia and beyond to counter slow sales growth in India, it said on Wednesday.

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Messaging App Telegram attacked by DDOS; Service went down in Asia-Pacific

Encrypted messaging app Telegram was hit by a huge distributed denial of service attack over the weekend impaling its servers in Asia.

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Markets on edge as Greece heads for default

Euro zone stocks and low-rated bonds recovered the worst of their losses on Tuesday but remained on edge as Greece looked set to default on a debt repayment to the IMF and plunge deeper into financial crisis.

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Russia's Rosneft says may buy 30 percent of ChemChina subsidiary

Russia's top oil producer Rosneft has signed a memorandum that paves the way for purchasing 30 percent of China National Chemical Corp's [CNNCC.UL], a subsidiary of ChemChina Petrochemical (CCPC), the oil major said on Saturday.

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Airbus steals show with last-minute $14 billion Wizz deal

Airbus (AIR.PA) won the Paris Airshow with a last-minute $14 billion deal to sell 110 jets to Hungary's Wizz Air on Thursday, diverting attention from a growing industry debate over how quickly a record backlog of jet orders can be built.

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Nestle scales back Africa workforce

Swiss food and drinks company Nestle (NESN.VX) is cutting 15 percent of its workforce in 21 African countries, the company confirmed on Wednesday.

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Oil prices rise on strong U.S. demand

Brent crude oil rose on Wednesday as strong demand and falling stockpiles in the United States pushed prices higher.

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Japan export slowdown could weigh on second-quarter GDP growth

Japan's export growth slowed for a second straight month in May, with weak external demand now threatening to erode economic growth in the current quarter.

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HSBC to cut 50,000 jobs in quest for higher dividends

HSBC (HSBA.L) pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire.

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U.S. rate prospects spook global stocks, dollar struggles

Shares in Europe and Asia fell on Tuesday as speculation intensified that the Federal Reserve could raise U.S. interest rates sooner than many expect, although this failed to give the dollar a significant boost.

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