Brent crude oil fell below $60 a barrel on Friday as oversupply, supported by record-high U.S. crude stocks, weighed on the market.
Tags: China
Asian shares rise after Yellen stresses policy flexibility
Asian stocks rose on Wednesday, taking their cues from Wall Street's gains after Federal Reserve Chair Janet Yellen suggested the Fed would not rush into raising interest rates.
Global dairy crisis simmers as supply overwhelms
The weak global diary market, hit by oversupply and a tail-off in Chinese demand that has driven international milk prices down by around 50 percent, is unlikely to pick up anytime soon, analysts say.
Fed rate rise timing back in the spotlight
Greece's struggles with its euro zone creditors may have grabbed much of the world's attention, but U.S. Federal Reserve Chair Janet Yellen is likely to reclaim the spotlight this week with testimony on a long-anticipated shift in policy.
Ireland says China agrees to lift ban on Irish beef
China has agreed to lift its ban on Irish beef, Ireland's Prime Minister Enda Kenny said on Friday, making it the only European country to be allowed to export beef to both the United States and China.
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Oil prices tumbled on Thursday as U.S. inventories were expected to hit record highs, while a possible rise in Saudi output could stoke oversupply built up in the past few months.
Mobile messaging apps Line and Kakao Talk are busy trying to conquer overseas markets such as Southeast Asia and India. But they may do well to keep a close eye on their home turf of Japan and South Korea as China's WeChat amasses more users.
South Korea's Hyundai Motor Co plans to spend around $1.8 billion by 2020 on a major offensive in commercial vehicles, including entering the race in the United States, to catch up with rivals in a rapidly growing global market.
Ford Motor Co (F.N) wants Tencent Holdings Ltd (0700.HK) to tailor its popular chatting app for the firm's cars in China, as automakers in the world's largest market vie for drivers that care about high-tech features as much as engine size.
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.
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.
Craig Uden, who fattens cattle for beef on his Nebraska feedlot, expects to cut his energy costs by as much as a quarter this year because of falling oil prices - a silver lining in an otherwise tough rural economy.
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.
The coming week will go a long way to dictating whether Greece remains in the euro zone. A meeting of euro zone finance ministers on Monday is tasked with producing a deal that will keep Greece solvent and which is acceptable to both sides.
