AFP News

  • Pool/AFP/File

    AFP | 

    US sees China's infrastructure bank as 'complement' to World Bank, others: Lew

    US Treasury Secretary Jacob Lew said Tuesday that Washington was "ready to welcome" the China-led Asian Infrastructure Investment Bank, even as Washington declined to follow key allies in joining Beijing's new development...

  • AFP/File

    AFP | 

    India aims to double exports to $900 billion

    India on Wednesday set an ambitious target of almost doubling its annual exports to $900 billion in the next five years as it seeks to boost the economy and provide jobs for a growing population.Commerce Minister Nirmala...

  • AFP/File

    AFP | 

    Japan's Takeda offers $2.2 bn to settle US drug lawsuits: report

    Japan's top drugmaker Takeda Pharmaceutical has offered $2.2 billion to settle US claims linked to its diabetes drug Actos, in what would be one of the biggest US payouts over patient lawsuits, a report said Wednesday.Citing three...

  • AFP

    AFP | 

    Indonesian inflation picks up in March

    Indonesia's inflation picked up to 6.38 percent in March, official data showed Wednesday, as the price of fuel and rice rose in Southeast Asia's biggest economy.The year-on-year increase in prices compared with February's 6.29...

  • AFP

    AFP | 

    Malaysia launches consumption tax despite public unease

    Malaysia on Wednesday implemented a six percent consumption tax aimed at plugging a leaky tax-collection system and addressing a widening fiscal deficit, but which has sparked opposition protests over the past year.The government...

  • AFP/File

    AFP | 

    Hard money, soft standards? Tough questions for China's new bank

    China scored a diplomatic coup by enticing almost 50 countries including key US allies to join its new development bank.But analysts say authoritarian Beijing now faces a daunting task managing a multilateral institution for the...

  • AFP/File

    AFP | 

    Beijing welcomes Taipei's AIIB application: Xinhua

    Taiwan is welcome to participate in the Beijing-led Asian Infrastructure Bank (AIIB) if it does so "under an appropriate name", Chinese state media quoted officials as saying Wednesday.Beijing regards Taiwan as part of its...

  • AFP/File

    AFP | 

    Petrobras shares rise after deal with Chinese bank

    Share prices for Brazilian state-owned oil giant Petrobras soared after it announced it had signed an agreement to obtain $3.5 billion in funding from the China Development Bank (CDB).A huge kickbacks scandal which broke last year...

  • AFP/File

    AFP | 

    South Korea industrial output up 2.6 percent in February

    South Korea's industrial output rose 2.6 percent in February from a month earlier, boosted by demand over the Lunar New Year holiday, government data showed on Tuesday.Production in the automobile and semiconductor sectors led the...

  • AFP/File

    AFP | 

    Japanese business confidence lower than expected: BoJ survey

    Confidence among major Japanese manufacturers came in lower than market expectations, a quarterly central bank survey showed Wednesday, underscoring the lacklustre state of the world's number three economy.The Bank of Japan's...

  • AFP/File

    AFP | 

    Google unveils 'stick' computer with Asus

    Google and Taiwan's Asus are launching a "computer on a stick" which can plug into a display to turn it into a PC.Google said in a blog post that the Asus Chromebit would be arriving mid-year with a low price tag."Smaller than a...

  • AFP/File

    AFP | 

    Chinese Wanda Group buy 20% stake in Atletico Madrid

    China's Wanda Group continue to expand their sporting interests after acquiring a 20 per cent stake in La Liga champions Atletico Madrid, worth a reported 44.98 million euros, ($48.38m/£32.63m), the club announced on Tuesday. "Wan...

  • AFP/File

    AFP | 

    China telecom giant Huawei's 2014 net profit up 32%

    Chinese telecommunications equipment giant Huawei's net profit surged more than 32 percent to 27.9 billion yuan ($4.5 billion) in 2014, it said Tuesday, helped by demand from emerging markets.The United States has long seen Huawei...

  • ANP/AFP/File

    AFP | 

    Philips to sell major stake in LED, car lighting arm for $2.8 bn

    Dutch electronics giant Philips on Tuesday said it was selling a majority stake in its LED and car lighting arm to a consortium led by China and US-based GO Scale Capital investment fund in a deal worth $2.8 bn.The deal is part of...

  • AFP/File

    AFP | 

    Samsung, LG agree to end legal feuds

    Samsung and LG agreed Tuesday to end all pending legal disputes that had seen the South Korean electronics rivals accuse each other of stealing technology and vandalising products.A recent series of feuds between the two giants...

  • AFP/File

    AFP | 

    China Southern Airlines 2014 net profit drops 10.55%

    China Southern Airlines' net profit dropped 10.55 percent year-on-year in 2014, hit by slowing growth in the Chinese economy and global aviation accidents, it said.Net profit for 2014 was 1.78 billion yuan ($292 million), down...

  • AFP/File

    AFP | 

    Faurecia follows Peugeot Citroen in tie-up with China's Dongfeng

    Faurecia, the car parts division of French carmaker Peugeot Citroen, said Tuesday it was creating a joint venture with Chinese auto giant Dongfeng that would double its business in the country.While Faurecia has long been present...

  • Belga/AFP/File

    AFP | 

    New taxi app challenges Uber in S.Korea

    South Korea's top mobile messenger operator launched a new web-based cab-hailing service Tuesday to compete with California-based Uber, whose service has been subjected to crackdowns from state regulators. Daum Kakao, which claims...

  • AFP/File

    AFP | 

    Honda to invest £200 mn in British factory

    Honda said Tuesday it will spend £200 million ($300 million) to upgrade a British factory that the Japanese automaker downsized last year owing to a slump in European demand.The company said it was aiming to turn its Swindon plant...

  • AFP/File

    AFP | 

    Ford to relaunch Lincoln Continental in US, China

    The Lincoln Continental, the luxury car of celebrities and US presidents from yesteryear, is coming back.Ford Motor Monday unveiled a concept for a new full-sized sedan aimed at the American and Chinese markets and expected to be...

  • AFP/File

    AFP | 

    South Korea opts for KAI-Lockheed in $7.8 bln fighter deal

    South Korea on Monday selected Korea Aerospace Industries (KAI) and partner Lockheed Martin for a multi-billion-dollar contract to develop 120 "indigenous" fighter jets to replace Seoul's ageing fleet.The bid from KAI and the US...

  • AFP/File

    AFP | 

    Egypt seeks to join China-based AIIB

    Egypt is interested in joining the Beijing-backed Asian Infrastructure Investment Bank, the foreign ministry spokesman said on Monday.Australia, Britain, France, Germany, Italy and Russia have all said they intend to join the...

  • POOL/AFP/File

    AFP | 

    Sri Lanka says no deal to restart Chinese port project

    Sri Lanka has yet to resolve a dispute with China over a $1.4 billion development in Colombo despite a state visit to Beijing last week, a minister said Monday.New Sri Lankan President Maithripala Sirisena suspended the...

  • AFP/File

    AFP | 

    China seeks to boost property market as economy slows

    China's central bank on Monday lowered minimum downpayment levels on second homes nationwide, scrapping a key policy originally aimed at controlling housing prices as it seeks to boost the economy.The People's Bank of China...

  • AFP/File

    AFP | 

    Asian shares mostly up after Wall St gains

    Asian markets mostly rose Monday after Wall Street's gains at the end of last week, while Hong Kong and Shanghai were boosted by hopes for more Chinese economic stimulus.The euro edged down against the dollar and yen at the...

  • AFP/File

    AFP | 

    Taiwan to apply to join China-led infrastructure bank

    Taiwan said Monday it would make a formal application to join the Asian Infrastructure Investment Bank, becoming the latest economy to express interest in the Beijing-backed institution.It was not immediately clear if the island...

  • AFP/File

    AFP | 

    Hong Kong umbrellas cast shadow over Prada figures

    Prada suffered a 28 percent fall in net profit last year as the Italian fashion giant was hit by weaker sales of its luxury products in Asia.Hong Kong's pro-democracy "Umbrella Revolution" protests appear to have contributed to...

  • AFP/File

    AFP | 

    Japan industrial production falls 3.4% on-month in February: govt

    Japan's factory production in February fell by a worse-than-expected 3.4 percent month-on-month, turning down from a solid rise in January, according to official data released on Monday.The latest figures from the Ministry of...

  • AFP

    AFP | 

    Vietnam rice boom heaping pressure on farmers, environment

    Rice farmer Nguyen Hien Thien is so busy growing his crops that he has never even visited Can Tho, a town only a few miles from his farm in the southern Mekong Delta."When I was a child, we grew one crop of rice per year -- now...

  • AFP/File

    AFP | 

    Australia moves towards joining China-led bank: government

    Australia said Sunday it will sign an agreement to become a prospective founding member of a China-backed infrastructure bank, but stressed that no one nation should control the institution.China and 20 other countries signed a...

  • AFP

    AFP | 

    China Construction Bank net profits climbs 6%

    China Construction Bank, the nation's second largest lender by assets, said its net profit rose six percent in 2014 from a year earlier, as interest income rose.Net profit for 2014 was 227.83 billion yuan ($36.69 billion), up from...

  • POOL/AFP/File

    AFP | 

    China's Xi attempts to reassure on Asian investment, economy

    China's President Xi Jinping said Saturday that Beijing's new Asian investment schemes do not aim to displace existing regional programmes, after US scepticism about the Beijing-backed AIIB bank.China is expanding its financial...

  • AFP

    AFP | 

    Russia 'to join China-led development bank'

    Russia is to sign up to the Chinese-led development bank AIIB, first deputy prime minister Igor Shuvalov said Saturday at an international forum in China, cited by Russian news agencies."I'd like to inform you that Russian...

  • AFP/File

    AFP | 

    Boxing hero Pacquiao is top tax-payer in Philippines: govt

    Boxing hero Manny Pacquiao, who faces his biggest fight against unbeaten American Floyd Mayweather, already holds top spot as the number one taxpayer in the Philippines, government records showed Saturday.A list of top individual...

  • AFP/File

    AFP | 

    China Eastern airline says profit up 44 percent

    Chinese airline China Eastern said its net profit rose 44 percent in 2014 from a year earlier, as fuel costs fell and passenger numbers increased.Net profit at the Shanghai based firm was 3.4 billion yuan ($548 million) last year,...

  • AFP/File

    AFP | 

    Leaked dispute-settlement plan raises US trade concerns

    A leaked secret dispute-settlement provision of a pending US trade deal with Asia is raising concerns among nonprofit groups which say it favors big companies over governments.The classified document, released by WikiLeaks on...

  • AFP/File

    AFP | 

    ANA orders three Boeing 787-10 Dreamliners

    Japan's All Nippon Airways has ordered three 787-10 Dreamliners, becoming the first airline in Asia to operate all three versions of the high-tech jetliner, Boeing said Friday.The new 787-10 is the largest of the Dreamliner...

  • AFP/File

    AFP | 

    Takata sued for $1.9 bn in Canada over faulty airbags

    Canadian drivers have launched three class action lawsuits against embattled Japanese auto supplier Takata over defective airbags linked to at least five fatalities worldwide, lawyers confirmed Friday.The plaintiffs are seeking a...

  • AFP/File

    AFP | 

    Tesla's Musk says to 'localise' China output: Xinhua

    Tesla Motors founder Elon Musk said on Friday his company plans to "localise production" of electric cars in China over the next three years, state media reported."We have a strong long-term commitment to China and we tend to...

  • AFP/File

    AFP | 

    Jaguar Land Rover to invest £600 million in Britain

    Indian-owned luxury car manufacturer Jaguar Land Rover announced a £600 million ($894 million, 814 million euros) investment in advanced car manufacturing in Britain on Thursday.The British car brand, which was bought by India's...

  • AFP

    AFP | 

    Japan inflation stalls in February

    Japanese inflation stalled in February with a key measure of prices flat for the first time in nearly two years, data showed Friday, weighed by a plunge in oil rates and tepid consumer spending.The dismal figures come after Bank...

  • AFP/File

    AFP | 

    China's Hainan Airlines eyes 30-plane Boeing order

    China's Hainan Airlines said on Thursday it is planning to buy 30 Dreamliner aircraft from US giant Boeing -- worth almost $8 billion at list prices -- as it seeks to looks to expand its long-haul service.The 30 Boeing 787-9...

  • AFP/File

    AFP | 

    US stance against China-led bank 'embarrassing': ex-Goldmans exec

    Washington's opposition to a new China-led development bank is "embarrassing" and "idiotic", a former top Goldman Sachs executive said on Thursday, as an increasing number of US allies embrace the institution.Jim O'Neill, former...

  • AFP/File

    AFP | 

    Oil giant PetroChina's 2014 net profit slumps 17%

    Chinese energy firm PetroChina said Thursday its net profit slumped 17 percent in 2014 from a year earlier as international crude oil prices plunged in the second half.Net profit was 107.17 billion yuan ($17.25 billion) last year,...

  • AFP/File

    AFP | 

    Air China sees 14% rise in 2014 net profit

    Air China, the country's flag carrier, said Thursday that the global economic recovery and falling oil prices helped lift its net profit by 14 percent last year.Net profit in 2014 came in 3.78 billion yuan ($608.67 million), up...

  • AFP/File

    AFP | 

    Toyota rolls out shared-parts strategy to chop costs

    Toyota on Thursday announced plans to overhaul production to slash development costs, with a top executive describing the shakeup as crucial to navigating "sudden and drastic changes" in the auto sector.While the Japanese car...

  • Pool/AFP/File

    AFP | 

    South Korea seeks to join China-led development bank

    South Korea announced Thursday it would seek membership of the Chinese-backed Asian Infrastructure Investment Bank (AIIB), despite US opposition to the new multinational lender which Washington sees as a threat to the World Bank.J...

  • AFP/File

    AFP | 

    Australia passes data retention bill amid privacy abuse concerns

    Australia's upper house Thursday passed a controversial law requiring telecommunication firms to retain customers' digital data for two years as part of a range of counter-terrorism measures, despite fears by privacy advocates of...

  • AFP/File

    AFP | 

    EU slaps anti-dumping duties on China, Taiwan steel

    The EU announced Wednesday it will impose anti-dumping duties for six months on some steel imports from China and Taiwan as a new trade row erupted between Brussels and Beijing.The tariffs will affect imports of flat-rolled...

  • AFP/File

    AFP | 

    Bank of China net profit up 8% in 2014

    Bank of China said Wednesday it saw a year-on-year net profit gain of eight percent in 2014 helped by stable growth in the Chinese economy, despite a slow recovery in global markets.But the bank, which is the nation's...

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