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Asia Business

Nikkei sheds gains as falling oil prices drag on energy shares

04h51 Japanese shares gave up initial gains on Monday as a further slide in oil prices pulled down energy-related stocks, offsetting renewed hopes of a U.S.-North Korea summit next month.. . .  Full story

S.Korean prosecutors raid Samsung Sec office over fat finger trade

04h00 South Korean prosecutors searched Samsung Securities' head office as part of their investigation into the brokerage's recent fat finger error.. . .  Full story

China c.bank raises 28-day reverse repo rate by 5 bps, matching previous hikes

03h56 China's central bank raised interest rates on 28-day reverse bond repurchase agreements by 5 basis points (bps) on Monday, matching previous increases in other tenors in the last two months.. . .  Full story

RPT--China April industrial profit growth rebounds to 6-month high

03h10 Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, as factories benefited from higher prices. . .  Full story

Brunei sells stake in Jordan Phosphate to Indian firms

27/05 Brunei, the largest shareholder in Jordan Phosphate Mines Company (JPMC), has agreed to sell a 37 percent stake to India's two largest importers and producers of fertilisers in a deal worth around $130 million, the. . .  Full story

Oil output at Libya's AGOCO back to 250,000 bpd after power problems - official

27/05 Production at Libya's Arabian Gulf Oil Company (AGOCO) has returned to normal levels at 250,000 barrels per day (bpd) after output losses caused by power supply problems because of high temperatures,. . .  Full story

India's Modi opens 2 expressways around Delhi to reduce pollution

27/05 Indian Prime Minister Narendra Modi said on Sunday he expected around a 30 percent drop in the number of vehicles entering Delhi, as he opened two new expressways around the capital aimed at decongesting. . .  Full story

Oil price dip pressures Saudi index

27/05 Saudi stocks slid below a key barrier on Sunday, hurt by the latest drop in oil prices and concerns over valuations of blue-chip companies, while property and banking shares slipped in Dubai and Abu. . .  Full story

Saudi hires ex-Canary Wharf executive for Red Sea tourism project

27/05 Saudi Arabia's Red Sea Project, a vast tourist development aimed at opening the economy, has been registered as a standalone company and will be headed by a former director of London's Canary Wharf business. . .  Full story

Saudi finance ministry sells 3.95 bln riyals of domestic sukuk

27/05 Saudi Arabia's finance ministry sold 3.95 billion riyals ($1.05 billion) of domestic sukuk in its monthly sale by re-opening an issue originally made last month, the ministry said.. . .  Full story

China April industrial profit growth rebounds to 6-month high

27/05 Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, as factories benefited from higher prices. . .  Full story

Oil output could return to Oct'16 level, says Russia's Novak

26/05 A return to the oil production levels that were in place in October 2016, baseline for the current deal to cut output, is one of the options for easing curbs, Russia's energy minister said. . .  Full story

Russia's Novak: return to Oct'16 oil output levels possible

26/05 Russian Energy Minister Alexander Novak said on Saturday it was possible for the participants of the global oil output cut deal to bring their oil production back to the level of October 2016.. . .  Full story

UAE's first nuclear reactor start-up delayed - operator

26/05 The start-up of the Arab world's first nuclear reactor - in the United Arab Emirates - has been delayed and should start operations between the end of 2019 and early 2020, the plant's operator. . .  Full story

India's Bank of Baroda, IDBI post big Q4 losses as bad loans surge

25/05 India's Bank of Baroda and IDBI Bank reported big fourth-quarter losses on Friday, continuing the losing streak of state-run lenders which have been hit by tighter central bank rules on bad loans.. . .  Full story

Asia Gold-Demand fades as prices recover; India discounts widen

25/05 Physical gold demand remained subdued this week in most Asian hubs as prices rebounded following an initial dip, while dealers in India offered bigger discounts to spur buying amid high domestic prices.. . .  Full story

Sri Lankan shares slip; diversified stocks top drag

25/05 Sri Lankan shares closed slightly weaker on Friday as investors sold diversified stocks such as John Keells Holdings Plc, while block deals boosted turnover.. . .  Full story

SE Asia Stocks-Malaysia snaps 4 sessions of fall, Indonesia gains further

25/05 Malaysian shares rose more than 1 percent on Friday and snapped four straight sessions of fall, as the finance minister's announcement that the government would pay all obligations on 1MDB debt calmed investors.. . .  Full story

Russia sovereign wealth fund targets infrastructure projects

25/05 Russia's RDIF sovereign wealth fund intends to co-invest in new Russian infrastructure projects to help realise plans set out by Vladimir Putin at the start of his fourth presidential term, Kirill Dmitriev, RDIF's head, told. . .  Full story

Taiwan raises 2018 growth outlook on exports, investment

25/05 Taiwan raised its 2018 economic growth forecast on Friday for the second time this year, as the economy continued a steady expansion helped by exports and increased private investment.. . .  Full story

Rosneft boosts clout in Iraqi Kurdistan with gas pipeline deal

25/05 Russian state oil major Rosneft signed a deal to help Kurdistan develop its gas reserves and build a gas pipeline, expanding the company's dominance in the energy sector of Iraq's semi-autonomous region.. . .  Full story

China aims to boost solid waste recycling, halt illegal dumping

25/05 Beijing outlined new measures on Friday to improve the way it recycles and disposes of solid waste like bricks and concrete and prevent illegal dumping, in a bid to tackle one of China's biggest. . .  Full story

Hong Kong shares down amid N.Korea, trade tensions

25/05 Hong Kong shares fell on Friday, amid renewed geopolitical worries after U.S. President Donald Trump called off a planned June meeting with North Korean leader Kim Jong Un.. . .  Full story

India's ONGC to quadruple output from Bay of Bengal gas field that cost $1 bln

25/05 India's state-owned exploration company Oil and Natural Gas Corp will by early 2019 quadruple the output from an offshore gas block in the Bay of Bengal that it spent a billion dollars on last. . .  Full story

Nikkei ekes out gains but cautious as Trump cancels N.Korea summit

25/05 Japan's Nikkei edged up on Friday, supported by such large cap stocks as Tokyo Electron and Fast Retailing, but gains were limited as sentiment was soured after U.S. President Donald Trump cancelled a summit. . .  Full story

China stocks see worst week in over a month

25/05 China's major stock indexes fell on Friday to post their worst week in more than one month, as sentiment soured after U.S. President Donald Trump called off a planned June meeting with North Korean. . .  Full story

China's Shenzhen broadens scope for bad debt sales to offshore investors-sources

25/05 China's foreign exchange regulator has started to allow non-banking institutions in the southern boomtown of Shenzhen to sell soured assets to global investors, two sources with direct knowledge of the matter told Reuters on Friday.. . .  Full story

JGBs steady to slightly firmer after Trump cancels N.Korea summit

25/05 Japanese government bond prices were steady to slightly firmer on Friday after U.S. President Donald Trump called off a key summit with North Korea, though trading was limited with few investors eager to buy. . .  Full story

Philippines to launch minimum $571 mln retail bond on May 30

25/05 The Philippines' Bureau of the Treasury said on Friday it would begin an offer of 2021 retail treasury bonds on May 30.. . .  Full story

China's offshore money rates rise ahead of MSCI inclusion

25/05 Offshore yuan money market rates rose this week ahead of the inclusion of Chinese stocks in MSCI indexes, which is expected to drive strong demand for the currency, although analysts say recent central bank. . .  Full story

China Inc tightens reins on debt, raises spectre of slowdown

25/05 Debt growth for Chinese companies has slowed to the lowest rate in more than a decade, according to Reuters analysis, which could provide relief for policymakers worried about the fallout from years of loose lending. . .  Full story

New Singapore exchange kicks off trading with palm oil futures

25/05 Singapore's third derivatives exchange kicked off trading on Friday with the launch of palm oil futures, as the largely China-backed bourse looks to get a foothold in the region in preparation for other contracts down. . .  Full story

Slower growth, higher prices or more subsidies: Asia's oil-related trilemma

25/05 Sujinda Cherdchai, who represents inter-regional bus operators in Thailand, told government officials this week that without any government support her industry has two options: higher fares or cutting services for some routes.. . .  Full story

China, HK stocks slip on nixed U.S.-North Korea summit

25/05 China and Hong Kong stocks edged lower on Friday, as sentiment soured after U.S. President Donald Trump called off a planned June meeting with North Korean leader Kim Jong Un.. . .  Full story

Japan stocks slightly higher as defence stocks rally

25/05 Japanese stocks were slightly higher on Friday, supported by defence-related companies after U.S. President Donald Trump canceled a summit with North Korea, although the return of geopolitical tensions kept wider investor sentiment subdued.. . .  Full story

China c.bank's maturing bills, repos next week

25/05 Maturing Chinese central bank reverse bond repurchase agreements will drain 370 billion yuan ($58.03 billion) next week. The People's Bank of China (PBOC) has drained 740 billion yuan on a net. . .  Full story