AFP News

  • Mallya charged with money laundering in India: agency

    India's financial crimes agency filed charges of money-laundering Wednesday against Vijay Mallya, accusing the flamboyant tycoon of siphoning off money from a loan to his now-defunct airline.The charges brought by the Enforcement...

  • IMF raises China growth forecast, urges faster reforms

    China must quicken the pace of reforms and do more to curb rising debt, the IMF said Wednesday as it raised its growth forecast for the world's number two economy. The International Monetary Fund expects China to expand by 6.7...

  • China factory output rises in May but officials guarded

  • Hong Kong launches ivory ban bill

    Hong Kong launched a landmark bill to ban its ivory trade Wednesday, describing it as an effort to "eradicate" the illegal poaching of elephants.The southern Chinese city is a major hub for ivory sales and announced last year that...

  • World Bank to give Afghanistan $520 mn credit

    The World Bank on Tuesday said it had approved a $520 million plan to help Afghanistan, which has been weakened by the Taliban insurgency and gradual withdrawal of US troops.Almost half of the amount, given in the form of grants,...

  • EU opens probe into 'Hello Kitty', Nike licensing deals

    The EU's top anti-trust regulator on Wednesday launched probes into whether Nike, Universal Studio and Sanrio's Hello Kitty illegally blocked retailers from selling merchandise across bloc borders.The European Commission "is...

  • Dow edges to record, dollar dips as Fed lifts rates

    Wall Street stocks and the dollar offered a muted reaction Wednesday to the Federal Reserve's decision to hike interest rates and signal one more increase in 2017.The Dow edged to a fresh record, while both the S&P 500 and Nasdaq...

  • Australia's Ten Network goes into administration

    Australia's Ten Network, one of the nation's three commercial channels which broadcasts shows such as "I'm a Celebrity", was Wednesday placed in voluntary administration after failing to secure a new finance package.The station,...

  • China-backed bank boasts rising lending power

    The China-backed Asian Infrastructure Investment Bank expects to more than double its lending power for regional projects over the next five years, a top executive said, denying it was an arm of the Communist Party.The brainchild...

  • French luxury leaders create precious work at home

    Using globalisation's potential with the precision of master designers making fashion, France's luxury companies are generating jobs again, defying nationwide gloom over stubbornly high unemployment.As they feed the world's...

  • Toshiba says hit with $900 mn in lawsuits over 2015 scandal

    Toshiba said Tuesday it is had been hit with two dozen lawsuits demanding over $900 million in damages from a 2015 profit-padding scandal that badly damaged its reputation and shredded its share price.The eye-popping total was...

  • Google 'seals tax deal' with Indonesia

    Indonesia has reached an agreement with Google over payment of taxes, the country's finance minister said Tuesday, after a long-running dispute with the US tech giant. The two sides have been locked in a row since last year when...

  • ECB swaps some dollar reserves for renminbi

    The European Central Bank said Tuesday it had exchanged part of its US dollar reserves for Chinese renminbi for the first time, in a sign of the growing global importance of Beijing's currency.The Frankfurt institution "completed...

  • Pound rallies from post-election lows; tech lifts US stocks

    The British pound rebounded Tuesday from post-election lows as surging inflation sparked talk of possible interest rate hikes, while US stocks closed at records as technology shares rallied.Near 2030 GMT, the pound rose to...

  • Crown staff charged in China gambling crackdown

    Up to 18 staff from Australian billionaire James Packer's Crown Resorts have been charged with promoting gambling in China, eight months after being detained, the company said Tuesday.The marketing employees were seized in raids...

  • Fugitive Chinese billionaire faces charges in New York

  • Fujifilm books bigger-than-expected loss on accounting 'irregularities'

  • S. Korea's Moon urges lawmakers to approve $10 bn stimulus plan

    South Korean President Moon Jae-In on Monday urged parliament quickly to approve his $10-billion stimulus plan aimed at tackling youth unemployment, warning the issue could otherwise become a "national disaster".Moon, who took...

  • Euro advances after French vote; US tech shares tumble again

    French election results favoring President Emmanuel Macron's party boosted the euro but hit European equities Monday, while US stocks retreated due to another round of technology weakness. The euro jumped above $1.12 in the...

  • Raving Rabbids, Mario join forces in new Switch game

  • China web users take aim at property clampdown

    Chinese social media users on Sunday angrily criticised a Shanghai government crackdown on unauthorised real estate activity after images emerged online showing an apparent protest in the city over the restrictions.Pictures and...

  • Foreign bidding war for Rio's Australia coal mines

    A multi-billion dollar bidding war for most of Rio Tinto's Australian coal mines has broken out between China-backed Yancoal and Glencore after the Swiss commodities giant made an unexpected offer.Rio, the world's second-largest...

  • Spain's 'jamon' conquers China

  • Floating solar farm reflects China's clean energy ambitions

    As the United States was withdrawing from the Paris climate pact, China's clean energy ambitions were being reflected in the launch of the world's largest floating solar farm.The 40-megawatt power plant has 160,000 panels resting...

  • China condemns EU for new steel anti-dumping duties

    China has condemned the European Commission for imposing new anti-dumping duties on its steel products, accusing the EU's executive of making China an industrial scapegoat.The 28-nation bloc said on Friday that it would levy...

  • Hong Kong wealth gap hits 46-year high

    Hong Kong's wealth gap was on Friday revealed to be at its highest in nearly 50 years, with living conditions fuelling discontent in the city as it prepares to mark two decades under Chinese rule.Sky-high prices and the cost of...

  • N. Korea coal export sinks to zero after China import ban: UN data

    North Korea's global coal exports sunk to zero in April, UN data showed, as China choked off imports from Pyongyang to ramp up pressure on its nuclear-armed neighbour. China -- the North's sole major ally and economic lifeline --...

  • Chinese firm tied to Communist Party critic stands trial

    Three executives of a Chinese...

  • China rolls out green carpet for California on climate

    China treated a US state governor to a red carpet reception this week, while President Donald Trump's energy chief received a low-key greeting, a signal that Beijing is ready to go around the White House in the battle against...

  • Korean Air flight lands safely after smoke in cockpit scare

    A Korean Air flight carrying more than 150 passengers landed safely at a Japanese airport Friday shortly after pilots reported seeing smoke in the cockpit, officials said.The crew on the Boeing 737, which had left the Korean port...

  • British pound tumbles after UK vote; tech sell-off hits Nasdaq

    The pound plunged Friday as the surprise election setback to Prime Minister Theresa May injected uncertainty into Britain's negotiations with the European Union over Brexit.But London equity markets gained on the drop in the...

  • Tokyo's Nikkei up, pound down with eyes on British election

    Tokyo's benchmark stock index opened higher Friday after ousted FBI chief James Comey's explosive testimony, while the pound took a hit as British election exit polls pointed to a hung parliament.The Nikkei 225's modest rise...

  • EU slaps China with new steel anti-dumping duties

    The European Union imposed new anti-dumping duties on steel products from China on Friday, as it broadens its campaign to protect struggling steel manufacturers in Europe.The EU took the latest action against China, which makes...

  • Railway to ruin: Hanoi train factory fades from glory

    Built by the French to fix trains for their fast-developing Vietnamese colony, the Gia Lam factory later churned out weapons to fuel the country's independence fight, and then survived the onslaught of American bombers during the...

  • Netflix may fix Japan movie-financing dilemma: director Kawase

    Japan's Cannes prodigy Naomi Kawase believes Netflix can help unleash the creativity of her country's film industry, despite the eruption of a row over the American streaming giant that marred the French film festival.Kawase, a...

  • Super glitch strikes Philippine bank again

    A major Philippine bank shut down online access and its cash machines for a second day Thursday because of a glitch that drained some accounts but added money into others, creating at least one instant "billionaire".Bank of the...

  • Chinese exports, imports beat forecasts but analysts wary

    China on Thursday posted a forecast-busting surge in exports and imports in May, signalling improvement in the world's number two economy, but there were warnings Beijing would struggle to maintain its momentum.The readings will...

  • Global markets shrug off ECB, Comey; Pound tumbles on UK vote

    Global stocks took in stride Thursday's blockbuster testimony from former FBI chief Jim Comey and an incrementally more optimistic stance by the ECB, but the British pound tumbled after an exit poll suggested a hung Parliament in...

  • Japan posts weaker-than-expected Q1 growth

    Japan on Thursday posted lower-than-expected growth in the first quarter, but official data still confirmed that the country saw its longest economic expansion in over a decade.The world's number three economy grew 0.3 percent...

  • OECD nations move on tax dodging, without the US

    More than 60 countries signed Wednesday a convention that aims to hinder multinational firms that shift profits around the globe to reduce their tax bills.One notable absence from the convention was the United States, which judges...

  • Philippine carrier to buy seven Airbus jets for $812 mn

    The Philippines' largest airline Cebu Pacific is ordering seven Airbus A321ceo aircraft in a deal worth $812 million to meet growing domestic and regional demand, the airline said Wednesday.Cebu Pacific, best known for its budget...

  • Philippine bank chaos as money goes missing from accounts

    A major Philippine bank shut down online transactions and cash machines on Wednesday after money went missing from accounts, triggering fears it had been hacked even as company officials said it was an internal computer error.Cust...

  • India's central bank keeps rates at 6.25 percent

    India's central bank held interest rates in line with analysts' expectations on Wednesday, rebuffing the finance ministry's desire for a cut after India's growth slowed.The Reserve Bank of India (RBI) said the benchmark repo rate...

  • FIFA sponsors 'accelerate' China's World Cup chances

    China's footballers may be struggling on the pitch but its companies are proving to be a big player, signing sponsorship deals with FIFA as the giant Asian nation looks to boost its chances of hosting the World Cup.In the space of...

  • Australia economy slows but marks record 26 years recession-free

    Australia marked a world-record 26 years without a recession Wednesday after official figures showed another quarter of economic expansion, but analysts warned of uncertain times ahead as growth slows.The reading beat...

  • Pound firms, oil drops as markets await British vote, Comey hearing

    The pound climbed Wednesday on the eve of the British general election, while oil prices fell hard after a US inventory report suggested weak demand in the world's biggest economy.Global equity markets were mixed with European...

  • Wonderland Villas: A tale of Hong Kong's property rollercoaster

    Red-whiskered bulbuls start chirping around 5:00 am at Wonderland Villas, a hilltop complex in leafy northern Hong Kong whose own history charts the city's political, economic and social fortunes.Built in 1984, the year colonial...

  • Tokyo stocks open lower as investors eye UK vote

    Tokyo stocks opened lower on Wednesday as the yen remained firm with investors cautious ahead of major events including the British general election.The British vote, the European Central Bank's policy meeting and testimony by...

  • African park ranger hits out at Hong Kong ivory trade

    A frontline park ranger from the Democratic Republic of Congo on Tuesday delivered an emotive testimony to legislators against the ivory trade in Hong Kong, as the city faces criticism over how it plans to phase out the trade.The...

  • Philippines halts workers' deployment to Qatar

    The Philippines on Tuesday halted the deployment of workers to Qatar as the gas-rich Gulf state grappled with a diplomatic crisis after its neighbours cut ties with Doha.Labour chief Silvestre Bello said Manila was taking...

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