China Construction Bank Corp., the country's second-largest commercial lender by assets, says first-half profits jumped 71 percent as it avoided the credit crisis that is hammering U.S. and European lenders. The bank warned, however, that it faces a tougher second half as Beijing tightens credit to contain inflation pressures.
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The Associated Press - 8/22/2008 12:58 PM GMT
The chairman of the Tata Group threatened Friday to move an important auto factory out of India's West Bengal state because of violent farmer protests and strong political opposition, a move that could delay the debut of the world's cheapest car. The pint-sized Nano, priced at US$2,500, was scheduled to go on sale by the end of the year, but if Tata pulls the Nano factory out of West Bengal, the much-anticipated car would almost certainly be delayed. The Associated Press - 8/22/2008 11:26 AM GMT
Asian stock markets mostly fell Friday, with key indexes in Japan, China and South Korea sliding amid a renewed spike in oil prices. Hong Kong's stock exchange was closed due to Typhoon Nuri, but Japanese stocks fell for a fourth day, with the benchmark Nikkei 225 finishing the week down 3.8 percent. On Friday, it fell 86.17 points, or 0.68 percent, to 12,666.04, the lowest since April 1. The Associated Press - 8/22/2008 11:01 AM GMT
Japan decided Friday to end most of its punitive tariffs slapped on South Korea's Hynix Semiconductor Inc., following a similar U.S. decision and orders from the World Trade Organization. Japan will lower its 27.2 percent duty on imports of Hynix dynamic random access memory, or DRAM, chips to 9.1 percent, effective Sept. 1, the deadline set by the international trade body, a Ministry of Finance official said on condition of anonymity, per ministry policy. The Associated Press - 8/22/2008 10:55 AM GMT
Malaysia's government on Friday said it will cut retail gasoline prices 5.6 percent to help curb inflation, which soared to 8.5 percent in July, the highest level in decades. The pump price of gasoline will come down to 2.55 ringgit a liter (US$2.92 a gallon) from 2.70 ringgit (US$3.12 a gallon) from Saturday, Prime Minister Abdullah Ahmad Badawi announced. Diesel price will be reduced to 2.50 ringgit a liter (US$2.89 a gallon) from 2.58 ringgit (US$2.96 a gallon). The Associated Press - 8/22/2008 9:36 AM GMT
Customers in China of Apple Inc.'s iTunes online music store were unable to download songs this week, and an activist group said Beijing was trying to block access to a new Tibet-themed album. In Internet forums, iTunes users complained they had been unable to download music since Monday. That was a day after the Art of Peace Foundation announced the release of "Songs for Tibet," with music by Sting, Alanis Morissette, Garbage and others, and a 15-minute talk by the Dalai Lama, the exiled Tibetan leader. Top Story
Latest Top Story News
In a deafening moment of history, Democrats anointed Barack Obama the first black major-party nominee for president, in a cathartic release of unity, hope and tears. The newly-minted nominee then sent the Democratic National Convention into raptures by crashing his own party a day early, after a stemwinding speech from running-mate Joseph Biden and a belated but glowing endorsement from Bill Clinton.
Agence France-Presse - 8/28/2008 4:24 AM GMT
Latest Entertainment News
The first retrospective of work by Tracey Emin, the enfant terrible British artist who has made a career out of intimate personal details including her own unmade bed, has opened to mixed reviews. As well as "My Bed", a mess of vodka bottles, cigarette butts and dirty underwear, "Tracey Emin: 20 Years" also features "Conversations With My Mum", a video of her talking to her mother, and "It's Not The Way I Want To Die", a model of the rollercoaster in her home town of Margate, southern England.
Agence France-Presse - 8/28/2008 4:31 AM GMT
Latest Sports News
Serbian stars Novak Djokovic and Jelena Jankovic hobbled to victory on centre court while the Russian assault continued on day four of the 20.6 million dollar US Open. An ailing Djokovic overcame in injury to his left foot to defeat Arnaud Clement 6-3, 6-3, 6-4 in his opening match, while Jankovic struggled with fatigue but held on to beat Sofia Arvidsson 6-3, 6-7 (5/7), 7-5 in the second round on Wednesday.
Agence France-Presse - 8/28/2008 2:09 AM GMT
Latest Regional News
Thousands of Thai protesters trying to bring down the prime minister again defied orders Thursday to end their siege of government offices, forming human shields to protect their leaders from arrest. The courts have ordered them to clear out of Government House immediately and issued arrest warrants for nine of the protest leaders , but the alliance against Prime Minister Samak Sundaravej remained defiant.
Agence France-Presse - 8/28/2008 4:07 AM GMT
Latest Sci-Tech News
NASA confirmed on Wednesday that a computer virus sneaked aboard the International Space Station only to be tossed into quarantine on July 25 by security software. A "worm type" virus was found on laptop computers that astronauts use to send and receive email from the station by relaying messages through a mission control center in Texas, according to NASA spokesman Kelly Humphries.
Agence France-Presse - 8/27/2008 10:22 PM GMT
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