Asia Business

Moody's upgrades Egypt's rating to B2, expects more economic growth

18/04 Rating agency Moody’s has upgraded Egypt’s sovereign rating, saying ongoing economic reforms will help improve its fiscal position and boost economic growth.  Full story

Saudi Arabia, UAE grant $3 billion of support to Sudan

21/04 Saudi Arabia and the United Arab Emirates (UAE) said on Sunday they had agreed to send Sudan $3 billion worth of aid, throwing a lifeline to its new military leaders after protests led to. . .  Full story

Qatar Petroleum in 10-year naphtha sales deal with Thailand's SCG Chemicals

21/04 Qatar Petroleum said on Sunday it had concluded a 10 year sales agreement to supply Thailand's SCG Chemicals with a total of 3 million metric tons of light naphtha starting from this month.. . .  Full story

Saudi Arabia's Al Rajhi Bank to boost mortgage lending - CEO

21/04 Al Rajhi Bank, Saudi Arabia’s biggest Islamic lender, aims to boost mortgage lending as more affordable housing comes on the market, its chief executive told Reuters.. . .  Full story

Owner of Abu Dhabi's Al Hilal Bank appoints chairman and CEO

21/04 Abu Dhabi Islamic lender Al Hilal Bank said on Sunday its owner, the Abu Dhabi Investment Council, had appointed Alaa Eraiqat as the bank's chairman.. . .  Full story

Airport in Libya's Tripoli re-opens, authorities say

21/04 Libya has reopened Tripoli's only functioning airport, according to a posting on the airport authorities' Facebook page on Sunday.. . .  Full story

China finds more cases of African swine fever on Hainan island

21/04 China has detected new cases of African swine fever in six farms across four locations in Hainan province, the agriculture ministry said on Sunday, adding to two earlier cases of the contagious disease identified. . .  Full story

Erdogan's AKP lodges second call for rerun of Istanbul election -Anadolu

20/04 Turkey's ruling AK Party submitted a second petition to cancel and re-run Istanbul elections it lost three weeks ago, citing thousands of ballots cast by people it said were ineligible to vote due to. . .  Full story

India's HDFC Bank fourth-quarter profit up 22.6 pct to record high

20/04 India's HDFC Bank Ltd reported a record quarterly net profit of 58.85 billion rupees ($848 million) on Saturday, meeting market expectations as the country's biggest lender by market value raked in higher interest and fee. . .  Full story

Libyan El Sharara oilfield pumps around 285,000 bpd -field engineer

20/04 Libya's El Sharara, the country's biggest, oilfield was producing around 285,000 barrels per day, a field engineer said on Friday.. . .  Full story

India's SpiceJet to give hiring preference to employees of Jet Airways - Chairman

19/04 India's SpiceJet Ltd said on Friday it will prioritize hiring employees of Jet Airways Ltd who are losing their jobs after the crisis-hit Indian airline halted all flight operations indefinitely this week.. . .  Full story

Russian oil output at 11.24 mln bpd from April 1 to 18 - source

19/04 Russian oil production was around 11.24 million barrels per day (bpd) between April 1 and April 18, an industry source told Reuters on Friday.. . .  Full story

Italy's Eni signs exploration and production deal with Ras Al Khaimah emirate

19/04 Eni has signed an exploration and production sharing agreement with the emirate of Ras Al Khaimah, the Italian oil company's latest expansion in the Middle East.. . .  Full story

China further relaxes rules for index futures trading

19/04 China's financial futures exchange said on Friday it was further relaxing index futures trading rules,reducing margin requirements,cutting fees and allowing more trading activities.. . .  Full story

Malaysia to revive multi-billion dollar project linked to China

19/04 Malaysia said on Friday it will revive a multi-billion dollar property project to be built by a China-linked venture, nearly two years after it was cancelled.. . .  Full story

Japan's March factory output to shrink, BOJ seen keeping policy unchanged

19/04 Japan's March factory output is forecast to have slipped for the first time in two months, a Reuters poll showed on Friday, though the central bank is expected to stand pat on policy as. . .  Full story

China stocks rally to a near 13-month closing high

19/04 Chinese shares rallied on Friday afternoon in thin volumes from earlier profit-taking to end the day at a near 13-month closing high, with signs of an economic recovery in China contributing to a recent. . .  Full story

China to promote using wind energy to power heating

19/04 China on Friday said it would promote using energy generated by the wind to help power heating systems during the bitterly cold winters seen in many parts of the country.. . .  Full story

Despite headwind, Japan's Nomura says intent on going it alone

19/04 Japan's Nomura Holdings has no plan to follow the lead of Wall Street rivals and seek a tie-up with a commercial lender, its chief executive told Reuters, pledging to stay independent even as the. . .  Full story

Thailand plans $630 mln in economic measures to boost growth - FinMin

19/04 Thailand will introduce economic measures worth about 20 billion baht ($629.52 million) to spur its slowing economy, the finance minister said on Friday.. . .  Full story

Foreigners net buyers of Japanese stocks for 2nd week ending April 12

19/04 Foreigners were net buyers of Japanese stocks for a second consecutive week ended April 12, but concerns over U.S. tariffs on European Union and caution ahead of the domestic earnings season kept inflows in. . .  Full story

Nikkei posts 3rd weekly gain, Nintendo surges 14 pct

19/04 Japan's Nikkei rose on Friday as investors snapped up cyclical stocks, while Nintendo jumped after Tencent won approval to sell its Switch console in China.. . .  Full story

Premium New Zealand honey producer admits adding chemicals - media

19/04 A New Zealand company pleaded guilty on Thursday to charges of adding artificial chemicals to its premium manuka honey, media reported, in a flagship prosecution over a product that is high-value export for the country.. . .  Full story

Chinese shares barely changed as investors take a breather

19/04 China's benchmark equity index inched lower on Friday, while blue-chips edged higher, as investors await clearer signs of a sustainable economic recovery and a resolution to a long-running trade war with the United States.. . .  Full story

JGB yields rise as BOJ trims debt purchase amount

19/04 Yields on long-dated Japanese government bonds rose on Friday after the Bank of Japan (BOJ) trimmed the amount of debt it offered to buy at a regular market operation.. . .  Full story

Fukushima owner to allow overseas staff to work on disaster cleanup

19/04 Tokyo Electric Power plans to allow overseas workers coming to Japan under a new visa programme to work on the cleanup of its wrecked Fukushima nuclear power station north of Tokyo, a spokeswoman said. . .  Full story

Nikkei buoyed by cyclical stocks; Nintendo jumps 16 pct

19/04 Japan's Nikkei rose on Friday morning as Wall Street gains raised risk appetite and lifted cyclical stocks, while Nintendo jumped after Tencent won approval to sell its Switch console in China.. . .  Full story

Nintendo shares jump 17 percent after Tencent wins key China Switch sales approval

19/04 Nintendo Co Ltd shares jumped 17 percent in morning Tokyo trade on Friday, a day after China's Tencent Holdings Ltd won a key approval to begin selling Nintendo's Switch console in the world's largest video. . .  Full story

China cenbank's maturing bills, repos next week

19/04 Maturing Chinese central bank reverse bond repurchase agreements will drain 300 billion yuan ($44.72 billion) next week. The People's Bank of China (PBOC) has drained 540 billion yuan on a net. . .  Full story

China cenbank weekly open market operations at a glance; PBOC drains 540 bln yuan YTD

19/04 The People's Bank of China (PBOC) has drained 540 billion yuan ($80.50 billion) on a net basis from money markets via open market operations (OMOs) so far this year.. . .  Full story

Japan inflation edges higher but BOJ still in a bind

19/04 Japan's core inflation picked up slightly in March from a year earlier, but remained distant from the Bank of Japan's ambitious 2 percent target in a sign of rising pressure on the central bank.. . .  Full story

Muted markets raise questions about China's economic recovery

19/04 Investors were relieved this week when China's first-quarter economic data defied expectations for a further cooling in growth. Yet the subdued reaction in stock markets, especially in China, has called into question the durability of. . .  Full story

Japanese firms want tax hike to proceed, but urge more stimulus to soften economic blow

19/04 More than 60 percent of Japanese companies want authorities to go ahead with a sales tax hike in October, but feel that additional government spending is needed to cushion the blow on the economy,. . .  Full story

Lebanese banks should play role in reducing deficit -finance minister

19/04 Lebanon's finance minister said on Thursday that Lebanese banks should play a role in reducing the state's budget deficit to complement measures planned by the government to rein in public spending.. . .  Full story

Deferred hog futures set contract highs for fourth day on China demand

19/04 U.S. hog futures set new contract highs in deferred months for a fourth consecutive day on Thursday on expectations of increased demand from China, before prices pulled back.. . .  Full story

Bosnia picks an Azeri-Bosnian consortium to build a highway section

18/04 Bosnian regional motorways company Autoceste FBiH has chosen an Azeri-Bosnian consortium to build a section of a pan-European north-south highway, worth a total of 76 million euros ($85.45 million), a company official said on Thursday.. . .  Full story

Bulgaria says Oman has withdrawn arbitration claim over Corpbank

18/04 Oman's sovereign wealth fund has withdrawn an 80 million euro ($89.98 million) claim against Bulgaria over the collapse of Corporate Commercial Bank (Corpbank), the Bulgarian finance ministry said in a statement on Thursday.. . .  Full story

Visual China fined over false photo copyright claims

18/04 Visual China Group Co Ltd , the largest Chinese stock images provider, said on Thursday that a subsidiary has been fined by internet authorities, days after it falsely claimed copyright of prominent images.. . .  Full story

India to surpass UK as second-most targeted country for payment card fraud - report

18/04 India will likely surpass the United Kingdom to become the second-most targeted country for payment card fraud this year, a research firm said, highlighting inadequate defense against cyber crime at financial institutions in the country.. . .  Full story

Egypt's Banque du Caire eyeing sale of 20-30 pct stake for $300-400 mln

18/04 The head of Egypt's Banque du Caire said on Thursday the bank was aiming to raise $300-400 million by selling a 20-30 percent stake by the end of 2019.. . .  Full story

India's richest man backs candidate from main opposition party

18/04 India's wealthiest man and its richest banker are backing a politician of Congress, the main opposition party, in general elections, a rare public endorsement by two of the country's most influential businessmen.. . .  Full story

Asia Gold-China premiums bounce to 2-year highs as prices dip, yuan gains

18/04 Gold premiums in top consumer China jumped to their highest in more than two years, as a drop in global prices and strengthening yuan encouraged purchases amid optimism about the state of the economy.. . .  Full story

Abraaj founder's extradition case adjourned, another former exec arrested-court official

18/04 A case in a London court to extradite Arif Naqvi, the founder of collapsed private equity firm Abraaj, to the United States on fraud charges, was adjourned until April 26, a court official said. . .  Full story

COLUMN-China keeps buying crude oil for storage, but difficulties loom: Russell

18/04 China appears to have kept the flow of crude into strategic and commercial storage facilities at high levels in the first quarter, even as the price of oil climbed.. . .  Full story

Saudi Arabia oil exports fall to 6.977 mln bpd in Feb - JODI

18/04 Saudi Arabia's crude oil exports fell by 277,000 barrels per day (bpd) in February from the month before, official data showed on Thursday.. . .  Full story

Keppel plans to add 1,800 staff at offshore and marine business

18/04 Singapore conglomerate Keppel Corp is planning to 1,800 staff this year at its offshore and marine business, the first time the company is hiring for the division after cutting thousands of jobs since 2015.. . .  Full story

BOJ to predict inflation falling short of its target for 3 years - sources

18/04 The Bank of Japan is expected to forecast next week that inflation will remain below its 2 percent target through the fiscal year that ends in March 2022, sources say, a sign its massive. . .  Full story

No Southeast Asia stock market report on April 19

18/04 There will be no Southeast Asia stock market report on Friday, April 19, as most financial markets in the region will be closed for Good Friday.. . .  Full story

Hong Kong Airlines power struggle deepens amid allegations head office "stormed"

18/04 A power struggle at Hong Kong Airlines (HKA) intensified on Thursday as a group of shareholders accused a rival group representing indebted Chinese conglomerate HNA of storming the troubled airline's head office and taking away. . .  Full story

Indian Oil Corp seeks LNG cargo for June delivery - sources

18/04 Indian Oil Corp is seeking a spot liquefied natural gas (LNG) cargo for delivery in June, two industry sources said on Thursday.. . .  Full story

Hong Kong stocks end lower as investors take profits

18/04 Hong Kong stocks fell on Thursday to end below the 30,000-mark, a psychologically key resistance level, as investors booked profits while awaiting fresh catalysts following a spate of economic data this week that offered tentative. . .  Full story

Shenwan Hongyuan prices HK share offer at bottom of range, raises $1.2 bln-sources

18/04 Chinese securities firm Shenwan Hongyuan Group Co Ltd has priced its Hong Kong share offering at the bottom end of a marketed range, raising $1.16 billion, two people with direct knowledge of the matter said.. . .  Full story

Shanghai stocks retreat from 13-month high on profit-taking

18/04 Shanghai stocks retreated from a 13-month closing high to end lower on Thursday, as investors locked in gains following a strong rally underpinned by signs of an economic rebound.. . .  Full story

Tunisia reaches an agreement with IMF on fifth review of loan

18/04 The International Monetary Fund (IMF) said on Wednesday it had reached a staff-level agreement with Tunisia on the fifth review of a loan.. . .  Full story

Nikkei retreats from 4-1/2-month high; Canon slumps on profit warning

18/04 Japan's Nikkei retreated from a 4-1/2-month high on Thursday as defensive stocks fell and Canon tumbled on a report that it will cut its earnings forecast.. . .  Full story

JGB futures rebound from 3-month low; cash bonds gain

18/04 The benchmark 10-year Japanese government bond futures climbed on Thursday, rebounding from a three-month low hit the previous day, as Tokyo shares dipped on the back of profit-taking.. . .  Full story

Terry Gou's Taiwan presidential run fuels rally in Foxconn shares

18/04 Shares of Foxconn and its Shanghai and Hong Kong-listed units soared on Thursday as investors cheered news that the chairman of the world's largest contract manufacturer will run for president of Taiwan.. . .  Full story

China stocks dip as investors await fresh catalysts amid signs of nascent recovery

18/04 Shanghai stocks slipped on Thursday after previous session's 13-month closing high, as investors awaited fresh catalysts following a spate of economic data this week that offered tentative signs of an economic rebound.. . .  Full story

S.Korea central bank's revised economic forecasts for 2019, 2020

18/04 Following are the South Korean central bank's revised key economic forecasts for 2019, 2020 (percentage change from a year earlier unless stated):. . .  Full story

Nikkei retreats from 4-1/2-month high; Canon dives on earnings warning

18/04 Japan's Nikkei retreated from a 4-1/2-month high on Thursday as investors took profits, while Canon tumbled on a report that it will cut its earnings forecast, pressuring other stocks in the sector.. . .  Full story

Japan manufacturers' mood slumps to 2-1/2-year low - Reuters Tankan

18/04 Japanese manufacturers' business confidence slipped to a 2-1/2-year low in April, a Reuters poll showed on Thursday, underlining growing concerns the economy could slip into a recession in the face of slowing external demand.. . .  Full story

Deferred CME hog futures set contract highs on China demand hopes

17/04 U.S. hog futures rallied to new contract highs in deferred months on Wednesday on projections that China will accelerate pork imports in the last half of the year, following an outbreak of an incurable. . .  Full story

Lebanese draft budget reduces deficit to below 9 pct of GDP-finance minister

17/04 Lebanon's draft budget for 2019 projects a deficit of less than 9 percent of GDP compared to 11.2 percent in 2018 and includes "wide reductions" in spending based on the need for "exceptional austerity. . .  Full story

Foreign companies queue up to sue cash-strapped Turkmenistan

17/04 A deal for Russia's Gazprom to resume buying gas from Turkmenistan came not a moment too soon for the Central Asian state because it is so short of foreign currency that a number of. . .  Full story

Aramco in talks to buy stake in refining business of India's Reliance

17/04 Saudi Aramco, the world's biggest oil producer, is in talks to buy a stake of at least 20 percent in the refining and petrochemicals businesses of India's Reliance Industries Ltd, sources familiar with the matter. . .  Full story

Syrian fuel queues grow, report cites Iranian credit freeze

17/04 Syria has suffered oil shortages since an Iranian credit line was halted six months ago and not one oil tanker has reached the country since then, a pro-government newspaper said on Wednesday, as a. . .  Full story

Five million lost jobs in India between 2016 and 2018 - report

17/04 At least five million Indians lost their jobs between 2016 and 2018, and young urban men are being hit hardest, a Bengaluru-based private university said in a report on Tuesday.. . .  Full story

Italian fashion group Valentino revenue growth slowed in 2018

17/04 Revenues at Valentino, owned by Qatari investment vehicle Mayhoola, grew at a slower pace last year compared to 2017, the Italian fashion group's chief executive Stefano Sassi said.. . .  Full story

Singapore seizes water plant from Hyflux after launching accounts probe

17/04 Singapore moved to take control of debt-laden Hyflux's key water treatment plant on Wednesday, a day after authorities said they were reviewing the company's disclosures to see if it has breached any laws.. . .  Full story

China considers plan to ease controls over new car licenses - Caixin

17/04 China is considering plans to relax controls over the issuance of new car licenses in major cities to boost flagging auto sales, financial magazine Caixin reported on Wednesday, citing a draft document by the. . .  Full story

Chief executive of China's back in spotlight over civil suit accusation of rape

17/04 The personal life of chief Richard Liu returned to the spotlight of China's social media on Wednesday, drawing 360 million views to briefly become the top trending item on the Twitter-like Weibo, after. . .  Full story

Indonesia's election: what you need to know

17/04 Indonesians voted in the world's biggest single-day election across the sprawling equatorial archipelago on Wednesday following a six-month campaign to choose a new president and parliament.. . .  Full story

China's troubled Anbang to slash registered capital by a third

17/04 China's Anbang Insurance Group Co said it would reduce its registered capital by nearly one-third, the latest government-directed step of a massive restructuring of the debt-laden conglomerate to curb financial risks.. . .  Full story

SE Asia Stocks-Most rise on China's growth data; Malaysia, Vietnam drop

17/04 Most Southeast Asian stock markets closed higher on Wednesday, with Thailand leading gains, after China's steadying first-quarter growth spurred hopes of recovery amid concerns regarding the health of the global economy.. . .  Full story

China's Q1 growth unexpectedly steadies, but too early to call clear recovery

17/04 China's economy grew at a steady 6.4 percent pace in the first quarter, defying expectations for a further slowdown, as industrial production jumped sharply and consumer demand showed signs of improvement.. . .  Full story

Hong Kong stocks end flat after China's GDP data

17/04 Hong Kong stocks were little changed on Wednesday, even as China surprised with firm growth data for the first-quarter, as gains in consumer goods were offset by losses in telecom and real estate companies.. . .  Full story

BOJ warns of overheating in real estate loans for 1st time in two decades

17/04 The Bank of Japan issued a warning for the first time in 20 years that financial institutions may be over-extending real estate loans, a sign that years of ultra-low interest rates is prodding banks. . .  Full story

Shanghai stocks close at 13-month high on upbeat GDP data

17/04 Shanghai stocks rose to a 13-month closing high on Wednesday, as surprisingly firm data pointed to a recovery in the world's second-largest economy.. . .  Full story

Foxconn's Gou announces bid to run in Taiwan's 2020 presidential race

17/04 Terry Gou, chairman of Apple supplier Foxconn, said on Wednesday he will contest Taiwan's 2020 presidential election, shaking up the political landscape at a time of heightened tension between the self-ruled island and Beijing.. . .  Full story

CNPC starts building $1.4 bln ethylene plant in northwest China -state media

17/04 China National Petroleum Corp (CNPC) has started building a 9.05 billion yuan ($1.35 billion) project to make ethylene from ethane in the gas-rich northwestern region of Xinjiang, the state-run Economic Information Daily reported on. . .  Full story

JGBs futures hit 3-month low as safe-haven appeal recedes on China growth data

17/04 The key 10-year Japanese government bond futures contract hit a three-month low on Wednesday as better-than-expected growth data from China soothed global economic slowdown fears and curbed demand for safe-haven debt.. . .  Full story

Loan, margin growth lift Emirates NBD quarterly net profit

17/04 Emirates NBD, Dubai's largest bank, on Wednesday reported a 15 percent rise in first-quarter net profit as loan growth and improved margins offset an increase in provisions and operating costs.. . .  Full story

Nikkei hits 4-1/2-month high on Japan-U.S. trade optimism, upbeat China data

17/04 Japan's Nikkei advanced to a 4-1/2-month high on Wednesday as automakers rallied on hopes of progress in Japan-U.S. trade talks, while companies with large exposure to China gained on upbeat Chinese economic data.. . .  Full story

China warns of soaring pork prices as virus curbs output

17/04 Chinese pork prices are set to jump 70 percent in the second half of the year, a senior official said on Wednesday, after data showed an outbreak of African swine fever cut the world's. . .  Full story

Shanghai stocks flat after GDP data; Hong Kong slips

17/04 Shanghai stocks were flat on Wednesday following strong gains the previous session, as investors were unsure whether China's better-than-expected first-quarter economic growth would sustain.. . .  Full story

-Etihad Group CFO departs as carrier pursues turnaround plan

17/04 Etihad Airways Group Chief Financial Officer Mark Powers has stepped down after roughly a year in the job as the Abu Dhabi state-owned carrier overhauls its business after years of heavy losses.. . .  Full story

RBNZ's measure of core inflation at 1.7 pct in Q1

17/04 The Reserve Bank of New Zealand (RBNZ) said on Wednesday that its sectoral factor model of core inflation was 1.7 percent year on year in the first quarter.. . .  Full story

China's March property investment grows most in 8 months on looser policy

17/04 Property investment in China grew the most in eight months in March, as demand recovered and market sentiment improved in the wake of looser monetary conditions and a modest relaxation of home purchase curbs.. . .  Full story

China Q1 GDP growth steady at 6.4 pct y/y, beats expectations for slowdown

17/04 China's economy grew at a steady 6.4 percent pace in the first quarter from a year earlier, defying expectations for a slowdown, as industrial output jumped. The upbeat readings, which also showed faster growth. . .  Full story

Nikkei hits 4-1/2-month high on carmakers, strong China data

17/04 Japan's Nikkei rose to a 4-1/2-month high on Wednesday as automakers soared on hopes of progress in Japan-U.S. trade talks, while companies with large exposure to China gained on robust Chinese economic data.. . .  Full story

China March aluminium output drops to lowest daily rate since Oct

17/04 China's aluminium production fell 3.6 percent on a daily basis in March from the previous two months to its lowest rate since October, according to calculations based on official data, pressured by winter curbs on. . .  Full story

China's economy still faces pressure, policy steps starting to help - stats bureau

17/04 China's economy still faces downward pressure, while policy steps to support the economy are starting to bear fruit, statistics bureau said on Wednesday.. . .  Full story

China March refinery runs ease off record, crude output accelerates

17/04 Refinery output in China, the world's second-largest oil consumer, eased from record highs in March after maintenance shutdowns offset production from a new mega refinery.. . .  Full story

China March aluminium output hits lowest daily rate since Oct

17/04 China's aluminium production fell 3.6 percent on a daily basis in March from the previous two months to its lowest rate since October, according to calculations based on official data, pressured by winter curbs on. . .  Full story

China's March industrial output up 8.5 pct, fastest pace in over 4-1/2 years

17/04 China's industrial output grew 8.5 percent in March from a year earlier, the fastest pace since July 2014, official data showed on Wednesday, as factories ramped up output in anticipation of more businesses amid government. . .  Full story

China injects 200 bln yuan through 1-year MLF, rate unchanged

17/04 China's central bank on Wednesday lent 200 billion yuan ($29.81 billion) to financial institutions via its one-year medium-term lending facility (MLF), with the interest rate unchanged, it said in a statement.. . .  Full story

China soil pollution efforts stymied by local govts -Greenpeace

17/04 China's efforts to combat dangerous soil pollution are being stymied by local governments and their need to earn money through land sales, environmental group Greenpeace said on Wednesday.. . .  Full story

Aramco in talks for 25 pct of Reliance's refining, petrochemical units - report

17/04 Saudi Aramco, the world's largest crude oil producer, is in "serious discussions" to acquire up to a 25 percent stake in Reliance Industries' refining and petrochemicals businesses, the Times of India reported on Wednesday.. . .  Full story

Fearing austerity, Lebanese protest ahead of budget

16/04 The Lebanese government has yet to disclose its budget for 2019 but protesters are already in the streets fearing the "difficult and painful" reforms it is expected to announce as it tries to get. . .  Full story

Algeria's army chief says looking at all options to find a solution to the crisis

16/04 Algeria's army chief said on Tuesday the military was looking at all options to find a solution to end the country's political crisis as soon as possible.. . .  Full story

Banks lead Saudi higher, while Egyptian shares see sell-off

16/04 Saudi Arabia's stock market rose on Tuesday as most of its banks gained, while a wide sell-off pulled down Egypt's blue-chip share index. Saudi Arabia's index was up 0.6. . .  Full story

Tianhong, controlled by Jack Ma's Ant Financial, seeks diversification outside China

16/04 China's Tianhong Asset Management Co, controlled by Jack Ma's Ant Financial Group, is stepping up the expansion of its cross-border business as regulatory curbs check the growth of its giant Yu'e Bao fund at home,. . .  Full story