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Asia Business

Saudi finance ministry sells 3.95 bln riyals of domestic sukuk

08h17 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finance ministry sold 3.95 billion riyals ($1.05 billion) of domestic sukuk in its monthly sale by re-opening an issue originally made last month, the ministry said..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

05h10 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'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

China cbank weekly open market operations at a glance, 740 bln yuan drained YTD

25/05 The People's Bank of China (PBOC) has drained 740 billion yuan ($116.07 billion) on a net basis from money markets via open market operations so far this year. The. . .  Full story

China regulators say bond defaults don't pose systemic risks - paper

25/05 Recent defaults in China's corporate bond market don't pose systemic risks, and regulators are studying measures to deal with those problematic debt obligations, the official Shanghai Securities News reported, citing unidentified regulators.. . .  Full story

More Japan firms raising prices; little change in harassment policies

25/05 More Japanese firms are raising prices as they grapple with a jump in costs, although a slim majority is still reluctant, a Reuters poll found. The poll also showed. . .  Full story

Hit by higher costs, more Japan firms are raising prices - Reuters poll

25/05 A growing number of Japanese firms are raising prices as they grapple with a jump in materials, transportation and labour costs, although a slim majority remains skittish about doing so, a Reuters poll shows.. . .  Full story

India state banks' bailout stumbles as losses mount

25/05 When the Indian government announced a surprise $32 billion bailout plan for the nation's state-controlled banks last October, credit rating firms and the nation's central bank saw it as a huge step to getting. . .  Full story

In corporate Japan, little movement on harassment policies - Reuters poll

25/05 Three-quarters of Japanese companies have made no changes to sexual harassment policies over the last year and don't plan to do so, a Reuters poll found, though awareness of harassment is on the rise.. . .  Full story

France's Total takes stake in Russia's Arctic gas project

24/05 French energy major Total will buy a 10 percent stake in a Russian Arctic gas project under a deal struck during Emmanuel Macron's visit to Russia, and showing the Kremlin's ability to find foreign partners. . .  Full story

Germany's Mittelstand seek ways to keep doing business with Iran

24/05 Germany's small-to-medium-sized firms, or Mittelstand, are scrambling to work out how to maintain business in Iran after a meeting between Germany's foreign minister and his U.S. counterpart dashed any hopes of a breakthrough on the. . .  Full story

Russia's Novak says oil production curbs could be eased 'softly' - Ifax

24/05 Russian Energy Minister Alexander Novak said on Thursday restrictions on oil production could be eased "softly" if OPEC and non-OPEC countries see the oil market balancing in June, the Interfax news agency reported.. . .  Full story