CHINA’S central bank said yesterday it will maintain a prudent monetary policy as the country faces pressure in supporting growth and containing inflation. The remarks, made by an official with the People’s Bank of China, was quoted in a PBOC press release a day after the central bank unveiled a reserve requirement ratio cut to ease a liquidity shortage and …
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SINGAPORE — How do you stump up the money for a $22 billion aircraft deal? The answer in the case of Indonesia’s Lion Air, which finalized a record order with Boeing this week, is typical of many mega-aircraft deals: with a little help from the taxpayer. The U.S. government is offering loan guarantees to help the low-cost carrier buy 230 …
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China is set to surpass India as the world’s top gold consumer this year, the World Gold Council (WGC) predicted. The demand for gold in China, the world’s largest producer, rose by 20% to 769.8 tonnes last year, driven by surging demand for jewelry and investment, while consumption in India, the world’s largest consumer, tumbled 7% to 933.4 tonnes as a result …
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For years, people have wondered what happens when China stops buying U.S. Treasury bonds. Once China refuses to finance our massive deficits, the thought goes, interest rates will surge, and the Treasury might have a hard time selling bonds (ask Greece what it’s like). And if China actually began selling its Treasury bonds… that could bring about something far worse. …
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Retailers from Forever 21 Inc. to Gap Inc. (GPS) have rushed to Hong Kong to reach the 28 million Chinese tourists passing through last year. To do so, they are paying some of the world’s highest rents. Hong Kong retail rents, which rose 32 percent in prime locations last year according to Savills Plc estimates, may climb more even as global economies …
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Asian stocks rose this week, with the MSCI Asia Pacific Index equaling its longest streak of advances, as China pledged to do more to help Europe cope with the debt crisis and Japanboosted asset purchases. Cosco Pacific Ltd. (1199), the Hong Kong-listed operator of Greece’s Piraeus port, climbed 4.1 percent. Chipmakers outside Japan rallied after debt-laden Elpida Memory Inc. said it may not survive. Reliance …
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Thailand’s new finance minister, Kittiratt Na-Ranong, talks about Greece, the Thai economy and regional cooperation. As Greece goes hat-in-hand for its second EU and IMF bailout in as many years, Thailand’s new finance minister, Kittiratt Na-Ranong, who is also deputy prime minister, offered a bit of friendly advice yesterday: ditch the euro — you’ll struggle now, but in the long …
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Baidu Inc. (BIDU), owner of China’s dominant search engine, reported fourth-quarter profit that topped analysts’ predictions as companies boosted spending on online advertising to reach users in the top Internet market. Profit excluding certain items was 95 cents per American depositary receipt, compared with 90 cents, the average estimate of analysts surveyed by Bloomberg. Net income climbed 77 percent to 2.05 billion …
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Sina Corp. (SINA) gained, helping Chinese shares traded in New York to a five-month high, after analysts recommended buying the nation’s Internet companies as users climb and their stock trades cheaper than peers in the U.S. Sina, which runs the Twitter-like Weibo service in China, jumped the most in two weeks, while E-Commerce China Dangdang Inc. (DANG), China’s largest Internet …
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