AFP News

  • AFP/File

    AFP | 

    Hong Kong forecasts fastest economic growth in three years

    Hong Kong's economy is expected to expand at its fastest pace in three years in 2014, the government said Wednesday, while slashing public welfare spending as it cautioned over global economic headwinds and projected a narrowing...

  • AFP/File

    AFP | 

    Panel to probe China compliance claim in WTO steel row

    A panel of trade experts was created Wednesday at US behest to test China's claim that it has complied with WTO rules regarding duties on certain US steel products.Washington has questioned China's claim that it has brought its...

  • AFP/File

    AFP | 

    Poor left behind, jobs scarce as Philippines takes off

    The Philippines should create more investment opportunities in agriculture, tourism, manufacturing and mining to escape the curse of jobless economic growth, experts and businessmen said Wednesday.Economic growth in the...

  • AFP/File

    AFP | 

    China declares unusual currency depreciation 'normal'

    China said Wednesday that a sudden and unusual depreciation in the value of its tightly-controlled yuan currency was "normal", but analysts believe the slide could be aimed at speculative funds.Communist authorities keep a tight...

  • AFP/File

    AFP | 

    GE payment to Japanese bank hits earnings

    General Electric said Wednesday it would pay $1.7 billion to Japan's Shinsei Bank to resolve possible claims from the 2008 sale of its Japanese consumer finance business to Shinsei.GE said the payment would reduce its...

  • AFP/File

    AFP | 

    India court orders arrest of Sahara group boss

    India's top court Wednesday ordered the arrest of the head of the giant Sahara business group for failing to appear in a case involving repayment of billions of dollars illegally collected from small investors.The Supreme Court...

  • AFP/File

    AFP | 

    Air New Zealand posts record interim profit

    Air New Zealand posted a record first-half net profit Thursday and predicted its full-year result will also scale new highs as the world economy picks up.The flag carrier said net profit for the six months to December 31 was...

  • AFP

    AFP | 

    Samsung launches flagship Galaxy S5 smartphone

    Samsung unveiled Monday its new flagship Galaxy S5 smartphone armed with a fingerprint scanner and a built-in heart rate sensor to defend its place as the world's industry leader.Taking centre stage on the opening day of the...

  • AFP/File

    AFP | 

    Qantas may cut 5,000 jobs

    Struggling Australian carrier Qantas on Tuesday said it was committed to slashing costs by Aus$2 billion (US$1.8 billion) but refused to confirm or deny a report that it will axe 5,000 jobs.The airline has been battling record...

  • AFP/File

    AFP | 

    Vatican's new money man admits 'enormous' task ahead

    Australian Cardinal George Pell, appointed by Pope Francis to head a new Vatican finance ministry, admitted Tuesday it will be "an enormous task" to put the Holy See's economic affairs in order.Pell's plum posting makes him one of...

  • AFP/File

    AFP | 

    Indian drugmaker Ranbaxy suspends shipments after US bans

    Indian drugmaking giant Ranbaxy Laboratories said Tuesday it was suspending shipments from two of its plants following US import bans on its products over safety concerns.In a filing to the Bombay Stock Exchange, Ranbaxy said it...

  • AFP/File

    AFP | 

    MtGox website disappears amid huge bitcoin theft claim

    The website of Tokyo-based bitcoin exchange MtGox went down Tuesday amid reports of a theft of the virtual currency worth hundreds of millions of dollars, dealing a blow to its credibility.The bitcoin community rallied round to...

  • AFP/File

    AFP | 

    Talk of Weibo listing as China's Sina posts profit jump

    Chinese Internet giant Sina said its fourth-quarter net profit surged from a year ago, amid media reports it plans an overseas listing of its popular microblog service Weibo.Sina is planning to spin off its Weibo platform --...

  • AFP/File

    AFP | 

    Indian tycoon Ambani denies illegal foreign bank accounts

    India's wealthiest tycoon Mukesh Ambani rejected Tuesday allegations by anti-corruption fighter Arvind Kejriwal that he holds illegal accounts abroad.Anti-corruption campaigner Kejriwal, who resigned earlier this month after a...

  • AFP/File

    AFP | 

    Billionaire boom for Asia: Chinese survey

    Asia experienced a billionaire boom last year, with more than 200 people from the continent seeing their net worth pass into 10 figures, a Chinese publisher said Tuesday.A total of 824 Asians were included among the 1,867 people...

  • AFP/File

    AFP | 

    Blackberry unveils first smartphones made by Foxconn

    Struggling Canadian handset maker Blackberry unveiled Tuesday its first smartphones built by new Taiwanese partner Foxconn as it fights to recover from huge losses.Blackberry showed off two devices to help it claw back market...

  • AFP

    AFP | 

    Russian firms to invest up to $6 bn in Indonesian mining

    Russian firms plan to invest up to six billion dollars in Indonesia's mining sector this year, Jakarta said Tuesday, despite its recent mineral export ban that has worried foreign investors.Projects include a refinery on Borneo to...

  • AFP

    AFP | 

    Samsung defends crown in tougher smartphone market

    Samsung defends its crown as the world's top smartphone maker Monday, unveiling a new premier smartphone in the face of tougher markets and a rising challenge from China.On the opening day of the four-day Mobile World Congress in...

  • AFP/File

    AFP | 

    LG to launch new smartwatch this year

    LG will launch its first smartwatch in 2014, the head of its mobile unit said Monday, tapping into the nascent market for wearable devices seen as the mobile industry's new source of growth.The announcement from the South Korean...

  • AFP

    AFP | 

    'Leaner' HSBC bank hikes profits, bonuses

    HSBC on Monday warned over emerging markets volatility after struggling in Latin America last year, but Europe's biggest bank still managed a 15.5-percent jump in annual net profits.London-headquartered HSBC also controversially...

  • AFP/File

    AFP | 

    Apple 'sues China govt body, firm over Siri': report

    US technology giant Apple is suing a Chinese government agency and a domestic company over patent rights for its "Siri" personal assistant, the official Xinhua news agency said Monday.Apple launched the case against the State...

  • AFP/File

    AFP | 

    Taiwan mulls tax hike for banks, insurers, elite

    Taiwan announced plans Monday to increase taxes on banks, insurers and the wealthy, as the export dependent economy looks for ways to plug its rising public debt.Finance Minister Chang Sheng-ford said the proposed reforms would...

  • Getty/AFP

    AFP | 

    Japan's MtGox steps down from Bitcoin Foundation board

    The boss of embattled Toyko-based bitcoin exchange MtGox, has resigned from the board of the Bitcoin Foundation, the virtual currency industry body said on its website.The move comes weeks after MtGox halted all customer...

  • AFP

    AFP | 

    India's Essar Energy rejects full takeover bid

    Indian energy company Essar rejected on Monday a full takeover bid from its majority owner Essar Global Fund Limited, saying that the offer undervalued the group.On February 17, EGFL, which owns 78.02 percent of London-listed...

  • AFP/File

    AFP | 

    Apple, Samsung fail to settle patent case

    Apple and its South Korean rival Samsung will return to court next month after failing to agree on a settlement to end a legal battle over patents in the United States.The two firms had been pushed into talks by a court order that...

  • AFP

    AFP | 

    G20 vows to add $2 tn to world economy to lift growth

    The world's biggest economies vowed Sunday to boost global growth by more than $2 trillion over five years, shifting their focus away from austerity as a fragile recovery takes hold. Finance ministers and central bank governors...

  • AFP

    AFP | 

    China's Huawei unveils smart watch to rival Samsung

    Rising Chinese smartphone maker Huawei launched Sunday a connected watch to rival Samsung's Gear 2, both unveiled on the eve of the world's biggest mobile fair in Barcelona, Spain.Huawei, already a major force in building mobile...

  • AFP

    AFP | 

    OECD delivers new global standard to target tax cheats

    The OECD on Sunday delivered a new global standard to crack down on tax evasion with more than 40 countries already committing to measures which the European Commission called "a big step" forward.Organisation for Economic...

  • Pool/AFP/File

    AFP | 

    S.Korea, Australia sign $4.5 bln currency swap deal

    South Korea and Australia signed Sunday a currency swap deal worth $4.5 billion, Seoul's central bank said, in a move to boost trades and help curb currency swings.The deal -- signed by the countries' central bank governors --...

  • AFP/File

    AFP | 

    Taiwan 'aerotropolis' plan buoyed by Chinese tourists

    Taiwan's ambitions to become a regional air hub finally look set to take off with approval for a mega "aerotropolis" to cash in on improving ties with China and the rise of budget airlines in the region.The ambitious plan to...

  • AFP

    AFP | 

    WhatsApp gets payback for venture capital star Sequoia

    Grandfather of Silicon Valley investment Donald Valentine rang up a major payday while evening the score a bit with relative new kid on the block Mark Zuckerberg.Valentine's Sequoia Capital is in line for a dizzying return from...

  • Pool/AFP

    AFP | 

    G20 host Australia urges central banks to avoid 'surprises'

    G20 host Australia on Saturday urged better advance notice of policy changes by central banks to avoid shockwaves for emerging economies at a meeting of finance ministers where rifts over US monetary policy loomed large.Australian...

  • AFP

    AFP | 

    Honda opens second plant in rising auto power Mexico

    Honda unveiled a second factory in Mexico on Friday, seeking to capitalize on the nation's rising power in the sector and strengthen the Japanese car giant's foothold in North America.The $800 million plant in the central city of...

  • AFP

    AFP | 

    Security experts raise flags over WhatsApp

    The Facebook deal for WhatsApp drew attention for its whopping price tag, but has also brought out fresh criticism over security for the billions of messages delivered on the platform.WhatsApp, which is to be acquired for $19...

  • AFP/File

    AFP | 

    US-led Pacific trade pact under discussion in Singapore

    Asia Pacific trade ministers began a fresh round of talks in Singapore on Saturday for a huge US-led Pacific free trade area, hoping to conclude a deal this year after missing a deadline in 2013.The four-day meeting of ministers...

  • AFP

    AFP | 

    Global tax evasion under G20 scrutiny

    US Treasury Secretary Jacob Lew described taxation reform as among the G20's most crucial initiatives Friday as the world's major economies look to close loopholes used by huge multinational firms."The G20's work on tax...

  • AFP/File

    AFP | 

    Shell sells Australia service stations, refinery for $2.6 bn

    Global energy giant Shell announced Friday it is selling 870 service stations and its last remaining Australian refinery to Swiss-based oil giant Vitol for $2.6 billion.The deal also includes Shell Australia's bulk fuels, bitumen,...

  • AFP/File

    AFP | 

    Indonesia, South Africa urge US clarity at G20

    Indonesia and South Africa on Friday stepped up pressure on US monetary policy, urging more clarity and better communication so emerging economies are not caught out by Federal Reserve action.Countries including Indonesia, South...

  • AFP

    AFP | 

    Japan gamers finally get PS4 at midnight launch

    Diehard gamers in Japan who began queuing earlier this week finally got their hands on a new PlayStation 4 as Sony unleashed its console on home turf in a midnight launch.The long-awaited Japanese launch comes after a stellar...

  • AFP

    AFP | 

    Ghosn sees 'cordial relations' with new Peugeot boss Tavares

    Nissan-Renault CEO Carols Ghosn told AFP Friday he "would maintain a cordial professional relationship" with Carlos Tavares, his former number two who in March takes over as head of PSA Peugeot Citroen."There has always been a...

  • AFP

    AFP | 

    Thai rice farmers call off airport protest

    Thousands of angry Thai rice farmers called off a threat to descend on Bangkok's main airport Friday in a rare reprieve for the embattled government after months of opposition street protests.A convoy of tractor-riding farmers had...

  • AFP/File

    AFP | 

    Singapore boosts sin taxes, help for elderly

    Singapore on Friday announced steep increases in alcohol, gambling and tobacco taxes as it pledged billions of dollars in healthcare subsidy for its growing ranks of elderly citizens.Liquor taxes will be raised by 25 percent with...

  • AFP/File

    AFP | 

    Eramet delays Indonesia project, reports big loss

    Mining group Eramet, hit by a slump in the price of nickel, is delaying a project to develop huge nickel resources at Weda Bay in Indonesia, triggering a big asset writedown, it said on Friday.But the French group, reporting a net...

  • AFP/File

    AFP | 

    US bans bidis made by Indian tobacco company

    US regulators on Friday banned four types of small cigarettes known as bidis made by an Indian company, marking the Food and Drug Administration's first-ever oversight action against a tobacco product.Bidis are small, hand-rolled ...

  • AFP

    AFP | 

    Bhutan to become green car showcase in deal with Nissan

    The remote Himalayan kingdom of Bhutan signed a deal with Japanese auto giant Nissan Friday to become the ultimate showcase for electric cars, taking advantage of its abundance of hydropower.The announcement was made during a...

  • AFP/File

    AFP | 

    Qantas cancels South African Airways code share

    South African Airways told customers on Friday they would no longer be able to fly directly from Johannesburg to Sydney, after Australia's Qantas cancelled a nearly 14-year-old code sharing agreement.The South Africa state-owned...

  • AFP/File

    AFP | 

    China manufacturing index hits seven-month low: HSBC

    A key index of Chinese manufacturing contracted further in February to hit its lowest level in seven months, HSBC said Thursday, in a sign of diminishing strength in the world's second-largest economy.The British banking giant's...

  • AFP/File

    AFP | 

    Facebook bets big on mobile with $19 bn WhatsApp deal

    Facebook is betting huge on mobile with an eye-popping cash-and-stock deal worth up to $19 billion for Internet Age smartphone messaging service WhatsApp.The surprise, mega-deal announced on Wednesday bolsters the world's biggest...

  • AFP/File

    AFP | 

    Japan logs record $27 bn Jan. trade deficit on surging imports

    Japan's trade deficit swelled in January to another monthly record, data showed Thursday, as once-bumper surpluses disappear under the weight of soaring post-Fukushima energy bills, an imbalance driven by premier Shinzo Abe's...

  • AFP/File

    AFP | 

    German finance chief says Europe not over-represented at G20

    German Finance Minister Wolfgang Schauble Thursday defended Europe's strong presence at the G20, arguing that it is not over-represented despite accounting for barely 20 percent of the global economy.Finance ministers from the...

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