Asia Business

Chinese steel output cuts to vary from mill to mill next winter -official

08h29 Production cuts in China's mammoth steel sector will vary from mill to mill next autumn and winter, said an environmental ministry official, as the country shifts away from a 'one size fits all' approach. . .  Full story

Aramco's potential SABIC deal to affect IPO timing, CEO says in interview transcript

08h08 Saudi Aramco's <IPO-ARMO.SE> potential acquisition of a stake in petrochemicals maker SABIC would affect the time frame of its own planned initial public offering, the firm's chief executive, Amin Nasser, said in a TV interview. . .  Full story

Aramco's potential SABIC deal to impact IPO timing - CEO on Arabiya TV

20/07 Saudi Aramco's <IPO-ARMO.SE> potential acquisition of a stake in Saudi petrochemicals maker SABIC would affect the time frame of its own planned initial public offering, Aramco's chief executive Amin Nasser said in a television interview. . .  Full story

Xi's visit to UAE highlights China's rising interest in Middle East

20/07 China and the United Arab Emirates signed a raft of financial, business and trade agreements on Friday during a visit by President Xi Jinping to the UAE, underscoring energy-hungry Beijing's rapidly growing interest in the. . .  Full story

Oil storage blast in central Iran kills two, fire contained - Tasnim

20/07 An explosion at an Iranian oil storage facility in the central industrial zone of Khomein on Friday killed two people and wounded another, the semi-official Tasnim news agency reported.. . .  Full story

Lebanon must strike deal with Syria to use export crossing-minister

20/07 Lebanon must seek a deal with Syria so Lebanese exporters can reach wider Middle East markets via the Syrian border with Jordan now that Damascus has recovered state control of that frontier, Lebanon's caretaker economy. . .  Full story

EXCLUSIVE-BOJ to debate policy change in July to make its stimulus sustainable - sources

20/07 The Bank of Japan, facing stubbornly low inflation, is in unusually active discussions before this month's policy decision, with changes to its interest-rate targets and stock-buying techniques on the table, people familiar with the central. . .  Full story

Hyundai Motor reaches a tentative wage deal with South Korean union

20/07 Hyundai Motor on Friday reached a tentative wage deal with its South Korean labour union, a company spokesperson said.. . .  Full story

Sri Lankan shares hit 3-wk high, mark second weekly gain in nine

20/07 Sri Lankan shares rose on Friday to their highest close in three weeks and marked their second weekly gain in nine.. . .  Full story

Dutch, Turkish governments restore formal diplomatic relations - ANP

20/07 The Dutch government has restored formal diplomatic ties with Turkey after withdrawing its ambassador in February, the Netherlands' ANP News reported on Friday, citing the country's foreign minister.. . .  Full story

Asia Gold-Price dip sparks little cheer; India buyers unmoved

20/07 A drop in prices spurred some interest for physical gold in major Asian hubs this week, but failed to stoke significant demand in India as buyers awaited bigger dips.. . .  Full story

China, sensing risks, moves to limit short-term bond funds

20/07 China's securities watchdog is urging mutual fund managers to reduce the size of a type of short-term bond funds that have thrived on investors' flight to safety, amid growing concerns of the quality of. . .  Full story

SE Asia Stocks-Most end on cheery note; Thai shares up over 1 pct

20/07 Most Southeast Asian stock markets ended the week on a positive note with Thailand rising over 1 percent while the Philippines posted its best week in well over a year.. . .  Full story

Hong Kong shares close higher, but lower for the week

20/07 Hong Kong stocks ended higher on Friday, as a sharp rebound in mainland Chinese stocks lifted sentiment.. . .  Full story

Dubai recipe for economic success looks stale as markets slump

20/07 In Dubai's posh Jumeirah Beach Residence district, luxury apartment rents are down about 15 percent from a year ago - a sign, some fear, that the wealthy emirate's recipe for economic success is getting. . .  Full story

China stocks rebound, led by surge in bank shares

20/07 China stocks rebounded nearly 2 percent on Friday erasing this week's losses as investors piled into financial shares after a media report suggested looser-than-expected asset management rules.. . .  Full story

Foreigners turn net buyers of Japanese stocks for first time in 4 weeks

20/07 Foreign investors became net buyers of Japanese stocks in the last week helped by the yen's declines against the dollar.. . .  Full story

China's money rates fall as boosts liquidity with eye on trade war

20/07 China's primary money rates fell this week as the central bank pumped cash into the banking system, and as it prepared to soften small firms' financing burdens in an attempt to hold off risks. . .  Full story

Japanese stocks slip in choppy trade as yuan swings knock sentiment

20/07 Japanese stocks ended weaker on Friday as an earlier decline in the Chinese yuan rekindled worries about the stability of the world's second largest economy, which faces rising risks from a major trade conflict with. . .  Full story

Thai banking shares climb as big four's earnings beat estimates

20/07 Banking shares in Thailand rose on Friday after the country's four biggest lenders all reported second-quarter profit that beat market estimates, as a decision to waive fees for digital transactions had a milder impact. . .  Full story

China lends Cambodia $259 million to build new road

20/07 China has lent Cambodia $259 million to build a new road in the capital Phnom Penh with Cambodia describing relations between the two countries as being at the "best stage" ever.. . .  Full story

JGBs gain on strong auction, China yuan worries

20/07 Japanese government bond prices gained on Friday following strong results at an auction of short-dated bonds and on worries about a fall in the Chinese yuan and further disruptions to the Chinese economy.. . .  Full story

Tokyo core CPI seen subdued in July on weak non-energy costs

20/07 Tokyo's core consumer prices were expected to remain subdued in July, a Reuters poll found on Friday, reflecting minimal gains in the price of non-energy related products.. . .  Full story

S.Korea LNG imports set to ease from record as power firms guzzle less gas

20/07 South Korean imports of liquefied natural gas are set to ease from record levels racked up in the first-half of the year, with appetite for the fuel from utilities seen fading as a raft. . .  Full story

Sri Lanka's June tea output down 15 pct y/y

20/07 Sri Lanka's tea output fell 15 percent in June from a year earlier, the state-run Tea Board said on Friday. Analysts attribute the fall to heavy rains and poor. . .  Full story

Shanghai stocks set for sixth day of declines amid yuan slide

20/07 China stocks fell on Friday, with the Shanghai benchmark poised to decline for a sixth straight session, as market sentiment continued to be curbed by a sliding yuan.. . .  Full story

Investors dump stocks linked to China's debt-laden HNA Group

20/07 Shares in companies linked to HNA Group slumped after resuming trading this week, highlighting investor concern over the embattled Chinese conglomerate whose opaque ownership structure has sparked global regulatory scrutiny.. . .  Full story

China's maturing bills, repos next week

20/07 Maturing Chinese central bank reverse bond repurchase agreements will drain 370 billion yuan ($54.49 billion) next week. The People's Bank of China (PBOC) has drained 670 billion yuan on a net. . .  Full story

China weekly open market operations; drains 670 bln yuan YTD

20/07 The People's Bank of China (PBOC) has drained 670 billion yuan ($98.65 billion) on a net basis from money markets via open market operations so far this year. The. . .  Full story

Japanese stocks stumble, spooked by yuan's fall

20/07 Japanese stocks dropped on Friday as an extended decline in the Chinese yuan rekindled worries about the stability of the Chinese economy which faces rising risks from a major trade conflict with the United. . .  Full story

Many Japanese companies see inflation of less than 1 percent as the new normal

20/07 Nearly two-thirds of Japanese companies say inflation between zero and 1 percent, less than half the Bank of Japan's 2 percent goal, is "appropriate", a Reuters poll shows. A slight majority called for. . .  Full story

Many Japanese companies see inflation of less than 1 percent as appropriate

20/07 More than 40 percent of Japanese businesses believe it will take more than three years to reach the central bank's inflation goal of 2 percent, a Reuters poll shows, and more than a quarter. . .  Full story

Venezuela exported $779 mln in gold to Turkey in 2018 -data

19/07 Venezuela exported $779 million of gold to Turkey in 2018, according to Turkish government statistics, further evidence that the South American country is shifting its pattern of trade following a wave of sanctions that began. . .  Full story

In sign of supply flexibility, Russia wields oil stocks to boost output

19/07 Russia used stocks held in tanks at its oilfields to help boost crude production in June, three industry sources told Reuters, in a sign of supply flexibility as OPEC kingpin Saudi Arabia pushes other. . .  Full story

Sri Lankan shares close at 3-week high; Keells leads

19/07 Sri Lankan shares rose on Thursday and marked their highest close in nearly three weeks, led by market heavyweight John Keells Holdings, as foreign buying boosted sentiment.. . .  Full story