The marginal rise in Chinese currency Yuan on Monday is believed to be the extended support by the central bank of the world's second largest economy.
Asia/Pacific
Online advertising to brighten Thai economy
Despite Thailand's staggering economy, businesses still flourish and invest bigger budgets for digital advertising. The aim is to target Thai consumers through smartphone apps, social working forums, and video-sharing websites, as reported by Reuters.
Analysts Predict Higher Demand for Macau Gaming Next 10 years, Leading to Las Vegas Sands' Macau Hotel Operations Growth
There are different factors than can lead to the significant growth of Las Vegas Sands' Macau Hotel Operations, including the higher demand for gaming in the next 10 years.
Foxconn Technology denies termination of $1B investment in Indonesia
Foxconn, the electronics company headquartered in Taiwan, has pulled out $1B investment to Indonesia, rumors have it. But according to a report, Foxconn claims they haven't cancelled it yet.
China manufacturing woes continue: PMI index slips below 50 pts
Several measures gauging the manufacturing industry activity are showing discouraging results. The latest manufacturing gauging index slipped below 50, which indicates the deceleration in the manufacturing industry, falling to 49.7 in August.
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Japan's economy continues to decline. Inflation rate and household spending crawled in July. This is according to data that was released onFriday that will possibly add pressure on the central bank to raise its barrage of monetary stimulus.
Wang Jianlin, head of Dalian Wanda Group, agreed to buy the Ironman Triathlon races organizer in a deal amounting to $650 milion. The deal was announced Thursday in a move for Asia's richest man to diversify his sports fortfolio. The developer also mentioned the possibility of another sports related purchase before the year ends.
Uber Technologies China is drawing near their $1 billion goal of raising funds to help support their fight against wealthier Chinese rival Didi Kuaidi Joint Co.
The fake financial company goes by the name "Goldman Sachs (Shenzhen) Financial Leasing Co" and holds office in Shenzhen. Little was known of the counterfeit institution but before its web site went down on Wednesday, it claimed to have been established in 2013. It also makes itself more likable by saying that it is "the biggest financial leasing firm" in the place.
Underlining the erupting problem of liquidity crunch in its financial system, the world's second largest economy's central bank the 'People's Bank of China' has released GBP14 billion emergency funds into the domestic banking system to support the cash supply mechanism.
China is reportedly planning to cut deposits that banks are required to hold in reserve to counter the effects of a weaker currency.
With Reserve Bank of India (RBI) licensing 11 companies to commence banking operations as 'Payment Banks,' Indian banking system is poised for a major revolution in the days to come.
The reduction in consumer spending and drop in exports are squeezing the world's third largest economy. During April-June quarter, exports from Japan eased putting further pressure on the Japanese economy, which slowed down at 1.6 percent annual growth rate as against the forecast of 1.9 percent.
The world's second largest economy China has to wait for one more year to make its currency 'Yuan' a part of International Monetary Fund's (IMF) currency basket. Dashing the dragon country's hopes, IMF's board favored a decision to keep renminbi as it is until 30 September 2016 year.
