AFP News

  • Hong Kong's richest man Li Ka-shing to retire

    Hong Kong's richest man Li Ka-shing announced Friday he was stepping down as chairman of his flagship company CK Hutchison, marking the end of an era for one of the world's most storied tycoons.Li, a wartime refugee, got his start...

  • 'Superman': Hong Kong's richest tycoon Li Ka-shing

    Hong Kong tycoon Li Ka-shing, 89, who has announced his retirement, started his career selling plastic flowers and spent seven decades building a vast business empire spanning everything from container ports to telecommunications....

  • Australia's Wesfarmers to spin off supermarket giant Coles

    Australian supermarket chain Coles will be spun off into a separate entity by owner Wesfarmers, the company said Friday, amid a shake-up in the food retail sector as new entrants threaten a longstanding duopoly.Coles, which...

  • Kuroda wins second term at Bank of Japan

    Japan's parliament approved Haruhiko Kuroda for a second term as central bank governor on Friday, with a mandate to battle deflation and pep up the world's third-biggest economy.Handpicked by Shinzo Abe to steer the former...

  • US, European stocks rise on data, quieter politics

    US stocks rose following a more placid session in terms of national politics on Friday, while European equities were boosted by data showing modest eurozone inflation.US equities have been pressured this week amid talk of...

  • World's biggest battery in Australia to trump Musk's

    British billionaire businessman Sanjeev Gupta will build the world's biggest battery in South Australia, officials said Friday, overtaking US star entrepreneur Elon Musk's project in the same state last year.The 120MW/140MWh...

  • 'Protectionism is pernicious,' Lagarde says ahead of G20 meet

    International Monetary Fund chief Christine Lagarde on Thursday issued a renewed warning against protectionism, saying moves to restrict trade threatened to slow the current global economic expansion.The remarks come as the White...

  • Trump to consider trade measures against China 'in coming weeks': advisor

    A senior White House advisor on trade said Thursday that President Donald Trump would soon consider fresh punitive measures against Beijing over its "theft" of US intellectual property.The warning raises the temperature for...

  • China to see driverless cars in '3-5 years': Baidu

    Self-driving cars will hit the roads in China "within three to five years", the founder of Chinese internet giant Baidu, one of the world's leading designers of driverless cars, said Thursday.That is a lot sooner than predicted by...

  • China shares hit after record stock manipulation fine

    Shares of three newly listed companies tumbled in China on Thursday after the country's securities regulator issued a record fine over manipulation of their stocks, the latest move in an official crackdown on financial...

  • Amazon Japan says cooperating after raid in antitrust case

    The Japanese unit of the US internet giant Amazon said on Thursday it was cooperating with authorities after a fair trade watchdog raided its Tokyo headquarters on allegations of antitrust violations. "We're fully cooperating"...

  • Car costs make Singapore world's priciest city. Again.

    The eye-watering cost of owning a car in space-starved Singapore means the city state is the world's most expensive place to live, for the fifth year in a row, a survey said Thursday.The Asian financial hub -- where owning a...

  • Court orders Japan government to pay new Fukushima damages

    A Japanese court on Thursday ordered the government to pay one million dollars in new damages over the 2011 Fukushima nuclear disaster, ruling it should have predicted and avoided the meltdown.The Kyoto district court ordered the...

  • 'Wobbly' global stock markets attempt to shake off trade worries

    World equities made an attempt at recovery on Thursday, with...

  • At G20 meet, US seeking 'like-minded' countries on China

  • Sweet start: Bubble tea shares triple in Hong Kong market debut

    Hong Kong's bubble tea fever has leaped from long queues outside street stalls to the stock market with a maker of the drink tripling on its trading debut on Wednesday.Priced at HK$1 ($0.13), shares of B & S International Holdings...

  • China unloads Blackstone stake amid Trump trade tension

    China's sovereign wealth fund has sold its stake in Blackstone Group, the US private equity firm has said, ending a decade-long investment at a time of simmering bilateral trade tension.Blackstone said in an annual report released...

  • Hong Kong carrier Cathay Pacific sees annual loss, outlook upbeat

    Hong Kong flag carrier Cathay Pacific on Wednesday booked the first back-to-back annual loss in its seven-decade history but said it was in the black for the second half and was upbeat about the next year.The firm's report was its...

  • Hong Kong's Cathay Pacific posts HK$1.26 bn loss for 2017

    Hong Kong flag carrier Cathay Pacific on Wednesday announced a HK$1.26 billion ($161 million) net loss for 2017, marking the first back-to-back annual loss in its 71-year history. The company had been hit by intense competition...

  • China's industrial output posts strong start to 2018

    China's industrial output strengthened in the first two months of the year, official data showed Wednesday, led by production at state enterprises.Output at factories and workshops expanded 7.2 percent year-on-year in January and...

  • Asian markets slump on fears of White House foreign policy shift

    Asian markets tumbled on Wednesday as news that Donald Trump had replaced his moderate secretary of state with a hawk fanned fears of instability in the White House and a more hardline approach to foreign affairs.News that Rex...

  • Trump planning new tariff crackdown on China

    US President Donald Trump is mulling fresh tariffs on billions of dollars in Chinese imports, aiming in particular at the tech and telecommunications sector, according to media reports.The White House is currently eyeing a hundred...

  • Germany's Rheinmetall wins Australia combat vehicle contract

  • US proposes WTO reforms likely targeting China

    The United States has proposed World Trade Organization reforms that would punish members for violating basic rules, in what appears to be another move by Washington targeting China, according to documents seen by AFP Wednesday.Pr...

  • China's bike-share app Ofo raises $850 mn to expand overseas

    Chinese bike-sharing start-up Ofo announced Tuesday that it has raised around $850 million from investors including e-commerce giant Alibaba, to finance its overseas expansion while it battles rivals in China.Ofo, whose...

  • Blocked Broadcom-Qualcomm tie-up highlights 5G security fears

    The unusual move by President Donald Trump to block a proposed takeover of Qualcomm by a Singapore-based chip rival highlights growing concerns about the rise of Chinese competitors.Trump issued an order Monday barring the...

  • China rejects Canadian accusation of steel dumping

    China on Tuesday dismissed Canadian accusations that it was flooding global markets with cheap steel, saying overcapacity in the industry was an international problem.Prime Minister Justin Trudeau said Monday that Canada was "very...

  • China to merge banking, insurance regulators in massive overhaul

    China unveiled plans on Tuesday for the biggest shakeup of government in at least a decade, including the merger of its banking and insurance regulators to better handle financial risks as leaders look to address concerns over a...

  • US orders compliance overhaul at Industrial and Commercial Bank of China

    The US central bank on Tuesday ordered the Industrial and Commercial Bank of China, the world's largest by assets, to overhaul anti-money laundering and sanctions compliance at its New York branch.The consent order came after an...

  • US, European stocks fall on trade war worries

    US and European stocks fell Tuesday on growing worries about a trade war as President Donald Trump replaced his secretary of state and was reportedly planning new tariffs on China.US stocks opened higher after benign US inflation...

  • Hacked Japan crypto exchange refunds customers

    Japan-based virtual currency exchange Coincheck said Tuesday it had refunded more than $440 million to customers following the hack of its systems, which was one of the largest thefts of its kind.The company said it used its own...

  • US could block Broadcom's takeover of Qualcomm, officials warn

    US officials are warning they could recommend against Singapore-based Broadcom's mega-acquisition of smartphone chipmaker Qualcomm on national security grounds.The Treasury Department has also found recent steps to speed up the...

  • Canada's Trudeau accuses China of 'dumping' steel on global markets

  • Global stocks mixed amid revived trade war worries

    Wall Street stocks finished in mixed fashion Monday, with the Nasdaq pushing to a fresh record but the Dow and S&P 500 both falling on revived fears of a trade war.Analysts pointed to sharpening rhetoric among different parties as...

  • Return of market volatility no cause for alarm: BIS

    Volatility on the financial markets is back, but central banks need not be alarmed by any sudden ructions and jolts as crisis-fighting measures are gradually rolled back, the Bank of International Settlements said on Sunday.The...

  • Japan ministry 'to admit doctoring documents linked to Abe cronyism row'

    Japan's finance ministry will admit altering documents related to cronyism allegations against Shinzo Abe, local media reported Sunday, a major blow to the premier who enjoys relatively high public support.If confirmed, the news...

  • China says still talking with US on trade

    China's commerce minister said Sunday that Beijing and Washington are still holding economic talks as he warned that a trade war would harm both nations.President Xi Jinping's top economic advisor, Liu He, held trade discussions...

  • Escaping the 'bubble': LGBT tourism eyes new horizons

    From gay-friendly honeymoon destinations to party escapes, tourism has long catered to LGBT travellers. But as acceptance grows, so do calls for the industry to broaden its offers, and avoid cliches.All too often travel...

  • Trump presses EU on trade barriers in tit-for-tat

    President Donald Trump renewed his demand Saturday that the European Union halts its trade barriers to US products in order to spare his allies new steel and aluminum tariffs.The American president made his comments after crunch...

  • China can be more 'courageous' in opening: central banker

    China's chief central banker said on Friday the country could be more "courageous" in opening its markets, as European and American firms push for greater access to the world's second largest economy."Now that we have entered a...

  • Chinese drones slink into North Korean arsenal

    Wang Dewen's daughter-in-law says the Chinese businessman could be dead. His wife claims he is travelling. But they are sure of one thing: he is definitely not working in North Korea.At least that is what AFP was told during a...

  • Kobe Steel names new CEO after fake data scandal

    Japanese steelmaker Kobe Steel named a new CEO on Friday and pledged "fundamental reforms" in the wake of a scandal over fake strength and quality data it submitted to clients.The firm said its board had appointed Mitsugu...

  • China consumer inflation almost doubles in February

    Chinese inflation almost doubled last month to its highest level in four years, data showed Friday, as holiday spending added to growing inflationary pressures in the world's second-largest economy.The the key consumer price index...

  • US stocks rally after strong jobs report; Nasdaq ends at record

    Wall Street stocks surged Friday, with the Nasdaq ending at a record following a strong US jobs report and the announcement of a summit between the US and North Korea.However, uncertainty surrounding US President Trump's tariffs...

  • Japanese spending rises unexpectedly in January

    Japan's household spending rose 2.0 percent in January from a year earlier, according to government data released Friday, suggesting demand is gradually recovering in the world's third-largest economy.The figure, released by the...

  • For Trump's numbers, close enough is frequently good enough

    When it comes to numbers, US President Donald Trump worries little about precision.The latest example came as he announced negotiations were underway between Washington and Beijing to reduce the soaring US trade deficit with China...

  • China says ready for trade war as Trump tariffs loom

    China warned the United States on Thursday that everyone will be harmed if President Donald Trump launches a trade war, as official figures showed the Asian power maintained a robust trade surplus with the US.Chinese Foreign...

  • Japan punishes crypto exchanges after hack

    Japanese authorities Thursday ordered two cryptocurrency exchanges to suspend operations as part of a clampdown following a massive hack that saw thieves steal hundreds of millions of dollars in virtual currency.The Financial...

  • Asian markets swing up on positive day for pro-trade camp

    A softer tone on threatened tariffs from the White House helped Asian markets rise on Thursday, continuing a week of volatility sparked by fears of a global trade war.Equities have swooned since Donald Trump last week unveiled the...

  • Japan economy steams ahead in fourth quarter

    Japan's economy is growing at a faster clip than initially estimated, the government said Thursday, as the world's third-biggest economy notched up its longest period of expansion since the "bubble" days of the 1980s.Gross...

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