China Construction Bank profits up 71 percent

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.

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Latest Top Story News

New York Senator Hillary Clinton speaks during the counting of the New York nominating votes as New York Gov. David Paterson and New York State Rep. Sheldon Silver look on during the Democratic National Convention at the Pepsi Center in Denver. Democrats made history by nominating Barack Obama as the first black presidential nominee of a major US party.
Democrats make history, and Obama the nominee

In a deafening moment of history, Democrats on Wednesday anointed Barack Obama the first black major-party nominee for president, in a delirious outpouring of unity, hope and tears. Obama took his stunning political rise to new heights as his foe in the primaries, Hillary Clinton dramatically halted a roll-call vote at the party convention , and called for the 47-year-old Illinois senator to be enshrined the nominee.

Agence France-Presse - 8/28/2008 2:13 AM GMT

Latest Entertainment News

File photo shows Guns 'n Roses band members peforming in Hollywood, California. US federal police on Wednesday arrested a blogger for posting songs from a yet-to-be released Guns N' Roses album titled "Chinese Democracy" online without the rock band's permission.
US blogger arrested for leaking Guns N' Roses online

US federal police on Wednesday arrested a blogger for posting songs from a yet-to-be released Guns N' Roses album titled "Chinese Democracy" online without the rock band's permission. Kevin Cogill, who uses "Skwerl" as an Internet name, is charged with violating copyright laws by putting nine of the band's unreleased songs on his www.antiquiet.com website for visitors to hear.

Agence France-Presse - 8/28/2008 2:10 AM GMT

Latest Sports News

Market! Market! thieves identified

The Taguig police yesterday identified the armed suspects who robbed an armored van at the Market! Market! Mall in Taguig City more than a week ago. Senior Superintendent Alfred Sotto Corpus, Taguig police chief, said the gunmen are members of the Lahay-Lahay and Colanco Robbery Group that usually target banks and their clients. They are also the suspects in several robbery incidents in other cities in southern Metro Manila.

The Philippine Star - 7/23/2008 12:03 AM GMT

Latest Regional News

Pakistani President Pervez Musharraf addresses an Independence Day ceremony in Islamabad on August 13, 2008. Musharraf Sunday faced a countdown to possible impeachment after the coalition government said he had until the end of the weekend to stand down.
Pakistan's Musharraf in impeachment countdown

Pakistani President Pervez Musharraf Sunday faced a countdown to possible impeachment after the coalition government said he had until the end of the weekend to stand down. Foreign Minister Shah Mehmood Qureshi said on Saturday that the key US ally had to make a decision on resigning to avoid being impeached "by today or tomorrow, as there is no room for any delay".

Agence France-Presse - 8/16/2008 9:30 PM GMT

Latest Sci-Tech News

The International Space Station in June 2008 as seen from the US space shuttle Discovery as it moved away from the station after completing nine days of joint operations. 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.
Computer virus goes into orbit

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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