AFP News

  • India's Ambani to launch free smartphone as he shakes up telecoms

    India's richest man Mukesh Ambani said Friday that his telecoms venture Jio would launch a free smartphone, escalating a price war that is shaking up the country's ultra-competitive mobile market.The announcement, made at a...

  • Tokyo Olympic stadium worker's suicide due to overwork: family

    The suicide of a 23-year-old worker on Tokyo's Olympic stadium was due to overwork, his family said, as Japan races to finish building venues for the 2020 Games.The construction firm employee, who began working on the project in...

  • Britain's Johnson hails 'record high' Japanese investment

    Japanese investment in the UK has hit a "record high" since last year's shock Brexit vote, British Foreign Secretary Boris Johnson said Friday, during a visit to Tokyo.Johnson, who backed Britain's campaign to quit the European...

  • N. Korea economy grows at fastest pace in 17 years: Seoul

    Despite global sanctions over its weapons programmes, North Korea's economy grew at the fastest pace in 17 years thanks to a jump in exports and increased production in mining and other industries, the South's central bank said...

  • European stocks slump on higher euro; Nasdaq streak ends

    European stock markets ended the week down as the euro extended its gains on Friday after the European Central Bank said it would reassess its monetary policy stance in the autumn, fueling talk that the age of cheap money was...

  • India's Reliance sees profits jump 28 percent

    Indian oil-to-telecom conglomerate Reliance Industries's first-quarter consolidated profit jumped 28 percent Thursday, pumped up by higher margins from its core oil refining business, the group said, beating analyst estimates.Cons...

  • Audi pulls 'sexist' China ad after public outcry

    German automaker Audi apologised on Thursday over an advertisement it aired in China that was slammed as sexist for showing a bride-to-be being roughly examined like a piece of livestock.The Chinese-language spot for Audi's...

  • China's banned books fade from Hong Kong

    The annual Hong Kong book fair has always been a source of politically sensitive titles banned in China, but this year fewer were on display as the city faces growing pressure under an increasingly assertive Beijing.Several...

  • Strong export demand to lift Asian economies: ADB

    Surging global demand for Asian exports and low oil prices will help China and the region's developing economies grow faster than expected this year and next, the Asian Development Bank said Thursday.The region should now grow by...

  • Philippines eyes opening telecoms to foreign control

    Limits on foreign ownership of the Philippine telecom industry should be lifted to attract investment and improve its service, a senior minister said Thursday. Currently foreign firms can own a maximum 40 per cent of Philippine...

  • Euro gets boost from ECB's Draghi; Nasdaq ekes out record

    The euro rose Thursday after European Central Bank chief Mario Draghi's comments bolstered the single currency even as interest rates were kept low again.Draghi avoided details on when the ECB might begin to wind down its...

  • Japan trade balance returns to surplus in June

    Japan logged a trade surplus of nearly $4 billion in June, rebounding from a deficit the previous month, but its politically sensitive surplus with the United States slipped, government data showed Thursday. The world's...

  • US, China agree to cooperate on deficit in first trade talks under Trump

    The United States and China have agreed to cooperate on reducing the trade deficit in the first round of economic talks under the Trump administration, Washington said at the conclusion of the meeting Wednesday which produced no...

  • China multi-billion dollar hotel sale in last minute change

    Chinese conglomerate Wanda will sell almost 80 hotels to Guangzhou-based R&F Properties instead of developer Sunac China in a last-minute change to one of the country's largest ever property deals.The news follows reports that...

  • Chinese activist questions arrest in Ivanka Trump factory probe

    Labour activist Hua Haifeng had avoided legal trouble in his 14 years investigating companies in China, but that changed after he looked into a factory that made shoes for Ivanka Trump's brand.Hua and two colleagues had worked...

  • Park refuses order to testify in Samsung heir's trial

    South Korea's disgraced former president Park Geun-Hye on Wednesday again refused to testify in the corruption trial of the heir to the Samsung business empire, citing poor health.For the second time in a fortnight Park rejected a...

  • US stocks end at records, lead global equities higher

    All three major US equity indices rose to fresh records Wednesday on solid earnings and higher oil prices, concluding a sunny session for global equities.The Dow, S&P 500 and Nasdaq all ended at new peaks as investors shrugged off...

  • In Mongolia's yurt slums, nomads dream of city life

    On the steep hills encircling Mongolia's capital, skyscrapers and apartments give way to ramshackle bungalows and tattered yurts, in rickety fenced enclosures with no running water.The "ger" districts' crowded residential clusters...

  • BHP to ramp up US shale rigs despite divestment calls

    BHP said Wednesday it would double the number of onshore US shale rigs, despite a major shareholder pushing for the commodities giant to divest its American oil and gas assets.The Anglo-Australian firm said in an annual...

  • Chinese bike-sharing startup aims at US with new model

    Rapidly growing bike-sharing...

  • China's Xi calls for more imports and more 'open economy'

    Chinese President Xi Jinping has called for an increase in imports and fewer restrictions for foreign investors as Beijing comes under pressure from the US and Europe to provide a more level playing field for companies in the...

  • Japanese engineers develop headset-less VR system

    A virtual reality "space ride" in which viewers feel as if they are flying through the air inside a giant glass ball has been developed in Japan.Unlike conventional VR systems, the "8K:VR Ride" -- which resembles a cross between a...

  • Myanmar's Rohingya: cornered by poverty, stalked by violence

    Hemmed in by Myanmar security forces and menaced by abductions and killings, Rohingya Muslims in a conflict-scarred corner of Rakhine State say fear is one of the few constants in their lives. Last week foreign media were given...

  • Nissan, UAW agree on union vote at southern US auto plant

    The United Auto Workers and Nissan said Monday that they reached an agreement to let workers at a Nissan plant in the southern state of Mississippi to vote on whether to unionize.Controversy over unionization at the largely...

  • Global stocks pressured by Trump health care reform setback

    Global stock markets were pressured Tuesday by worries about President Donald Trump's agenda after a proposed health care reform measure collapsed in Congress, raising concerns about prospects for his tax reform. Bourses in Paris...

  • Microsoft cloud to help Baidu self-driving car effort

  • Mahindra plans to double investment in US

    Indian conglomerate Mahindra Group plans to double its US investment in the next five years, where it is hoping to its two-wheel electric scooters will win over American millennials. "We're very bullish," executive chairman Anand...

  • US, Malaysia to set up bilateral trade talk shops

    The United States and Malaysia will establish working groups to address trade matters such as labor, intellectual property and the environment, US officials announced Monday.The agreement came following a meeting between Malaysian...

  • Top Philippine paper in sale talks after Duterte threat

    Top newspaper the Philippine Daily Inquirer said Monday its owners are in talks to sell the publication, months after President Rodrigo Duterte threatened a shame campaign against them over critical coverage of his drug war.Marixi...

  • China cuts off Wanda funding after overseas buying spree: reports

    China plans to squeeze high-flying billionaire Wang Jianlin's conglomerate Wanda by cutting off new loans and regulatory approvals for deals, reports said Monday, punishing it for breaching Chinese restrictions on overseas...

  • Shopping-weary Chinese find refuge in souped-up man caves

    It's a familiar sight in shopping malls around the world -- weary-looking men dutifully following their wives from store to store. But China may have the solution: so-called "husband rest booths".While their partners shop, users...

  • China's economy posts steady growth but risks remain

    China posted better-than-expected second quarter growth on Monday, but analysts warned that the momentum will not last as authorities clamp down on rising debt.The economy expanded 6.9 percent in April-June, the same as the...

  • London stock market wins China boost

    London's stock market rebounded Monday, with miners buoyed by solid Chinese economic growth figures, while eurozone indices were steady to slightly lower. Asia equities mostly increased in value following another record close on...

  • Australian malls turn to village life as retailers feel pinch

    As Australia's local merchants struggle with an influx of global names, leading malls are considering returning to their village centre roots to woo new tenants by moving away from shops and offering medical facilities, more...

  • Cowed Chinese football clubs desist in face of 100% levy

    Wayne Rooney led the big names linked with a move to China but in the end the only arrivals were striker Anthony Modeste and a cast mostly of freebies, loanees and has-beens.Experts and insiders say a 100 percent tax on foreign...

  • China's economy slows in second quarter: AFP survey

    China's economy lost momentum in the second quarter, a survey shows, as Beijing's efforts to curb risky lending and investment took a toll on the Asian powerhouse. The world's second-largest economy expanded by 6.8 percent in the...

  • US judge pauses quest to block sale of Toshiba chip unit

    A California judge put on hold Friday a request by Western Digital to block the sale of Toshiba's chip division, suggesting a more collaborative order.San Francisco Superior Court Judge Harold Kahn gave Toshiba and Western Digital...

  • Fitch keeps China's 'A+' rating but warns over debt

    Fitch Ratings warned Friday that China's growing debt could trigger "economic and financial shocks", but said it will maintain the country's A-plus rating with a stable outlook despite its concerns.The announcement follows Moody's...

  • India's Infosys eyes artificial intelligence profits

    Indian IT giant Infosys said Friday that artificial intelligence was key to future profits as it bids to satisfy clients' demands for innovative new technologies.India's multi-billion-dollar IT outsourcing sector has long been one...

  • Leicester City's Thai owners to be sued by graft-buster

  • Dow, S&P 500 end week at records; dollar tumbles

    Wall Street stocks finished at fresh records Friday following solid bank earnings, while the dollar retreated after lackluster US data raised questions about additional Federal Reserve rate hikes.The Dow and S&P 500 ended at fresh...

  • Chinese group bids $11.6 bn for warehouse firm GLP

    A Chinese consortium on Friday offered more than $11 billion for Singapore's Global Logistic Properties Ltd, which provides warehouses for the likes of Amazon China and WalMart, as e-commerce drives demand for logistics space.In...

  • Australia cautiously enters medical marijuana market

    At a secret location in Australia's southeast, Peter Crock delicately tends to a two-month-old cannabis cutting.Barely knee high, it is one of about 50 government-sanctioned "mother plants" to be cloned for future generations of...

  • Flying cars and no more pilots in flight revolution: Airbus

    Pilotless aircraft, flying electric vehicles and bespoke air cabins are the future of flight, Airbus said Thursday. Paul Eremenko, the European plane-maker's chief technological officer, painted a picture of skies buzzing with...

  • Uniqlo operator profit soars on brisk sales, cheap yen

    Uniqlo's parent company said Thursday that its nine-month net profit soared nearly 70 percent from a year earlier on robust sales and as a cheaper yen inflated the value of its overseas assets.Fast Retailing's net profit came in...

  • Philippines' San Miguel buys Australian bottling firm

    Top Philippine conglomerate San Miguel, best known for its beer brewing business, said on Thursday it had acquired an Australian wine bottling firm as part of its regional expansion.Packaging unit San Miguel Yamamura Packaging...

  • S.Korea raises 2017 GDP growth forecast to 2.8%

    South Korea's central bank on Thursday tweaked upwards its growth forecast for Asia's fourth-largest economy this year, citing strong exports.Bank of Korea Governor Lee Ju-yeol said the bank was forecasting a 2.8 percent rise in...

  • Chinese exports, imports beat expectations in June

    Growth in Chinese exports and imports outstripped expectations in June, data showed Thursday, fuelling hopes of stability in the world's second-largest economy.Exports rose 11.3 percent from a year ago to $196.59 billion, the...

  • Apple unveils iCloud data centre in China as cyber laws tightened

    Apple has unveiled plans to build a data centre in China to store its local iCloud customers' personal details, marking the first such move by a foreign technology firm following the imposition of strict new cyber-security laws in...

  • US seeks to renegotiate S.Korea free trade deal

    The United States formally declared Thursday it wants to renegotiate its free trade agreement with South Korea, as the world's biggest economy seeks to redraw the global commerce system in its favour under President Donald Trump.T...

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