Chinese regulators will allow foreign firms access to the yuan-denominated credit card clearing business from August next year, Hong Kong's South China Morning Post newspaper reported on Saturday.
Asia/Pacific
Wounded Japan PM grapples with tax jinx after BOJ eases
When Prime Minister Shinzo Abe raised Japan's sales tax from April, he was betting he could break a jinx that has doomed leaders who raised the levy to losing their jobs.
India's Modi vows to bring back 'black money'
India's Prime Minister Narendra Modi said on Sunday he was committed to bring back funds illegally deposited in banks outside the country to avoid tax, widely referred to as "black money".
South Korea exports rise 2.5 percent in October, trade surplus at record
South Korean exports rose slightly faster than expected in October but imports saw their sharpest drop in 13 months, dragged down by softer demand for raw materials and capital goods, data showed on Saturday.
Samsung says Microsoft deal invites 'charges of collusion': filing
Samsung said its collaboration with Microsoft on Windows phones raised antitrust problems once Microsoft completed its acquisition of Nokia's handset business, according to a court filing.
Latest News
Samsung Electronics Co Ltd unveiled two mid-tier handsets with a premium design as it prepared to deliver a riposte to its low-priced Chinese rivals and reclaim its title as the top brand in the world's biggest smartphone market.
Japan's Sony Corp reported a second-quarter operating loss on Friday that was narrower than analysts had estimated, as blockbuster sales of its PlayStation 4 games console reduced the impact of a sluggish smartphone division.
Japanese life insurers are looking to buy more foreign bonds in the six months to March as yields on domestic bonds have fallen to uneconomical levels due to the Bank of Japan's massive purchases as part of its monetary easing program.
Asian shares ticked higher on Friday on Wall Street's cheer after upbeat U.S. growth data, while the dollar traded around four-week highs against the yen as investors awaited the outcome of the Bank of Japan's monetary policy meeting.
The world's biggest TV makers, Samsung Electronics Co Ltd and LG Electronics Inc, are turning to quantum dot technology for their next-generation TVs as it could still be years before OLED is affordable for the mass market.
General Electric Co is planning to divest stakes in its joint venture auto-financing and credit card businesses in South Korea, people familiar with the matter told Reuters, as the U.S. conglomerate continues to trim its exposure to the financial services sector.
With just five months left before Governor Haruhiko Kuroda's self-imposed deadline for banishing deflation, the Bank of Japan is preparing for failure, and the first casualty could be its facade of board unity.
Japan's Fujifilm Holdings Corp said it was difficult to estimate the profitability of its influenza drug Avigan, which has been earmarked to fight Ebola, given the uncertainty over the spread of virus, a company executive said on Thursday.
Japanese video game maker Nintendo Co Ltd will develop a device to measure a user's fatigue and map their sleep, Chief Executive Satoru Iwata said on Thursday, the first offering from the company's newly created healthcare division.
