China's banks are preparing to raise tens of billions of dollars in additional capital to meet regulatory requirements following an unprecedented expansion of new loans this year, according to people familiar with the matter.
Manmohan Singh, India's prime minister, on Sunday sought to override divisions in his ruling coalition by pledging to fulfil a deep financial reform program in Asia's third-largest economy.
China's manufacturing sector grew last month at the fastest pace since April 2008, according to the country's official purchasing managers' index released on Sunday.
Rising Chinese demand helped drive South Korea's economy to its fastest growth in seven years in the third quarter, underscoring how Asia is leading the global economy and trade out of the worldwide downturn.
You wouldn't think the men who run the oil-rich country of Nigeria would have much spring in their step these days. The nation is plagued by a never-ending guerrilla war, one that has trimmed the country's oil production to two-thirds of its potential capacity.
Former Japanese Finance Minister Shoichi Nakagawa, who resigned from his post after appearing intoxicated at a news conference earlier this year, was found dead in his home Sunday, police said.
China's banks are preparing to raise tens of billions of dollars in additional capital to meet regulatory requirements following an unprecedented expansion of new loans this year, according to people familiar with the matter.
Manmohan Singh, India's prime minister, on Sunday sought to override divisions in his ruling coalition by pledging to fulfil a deep financial reform program in Asia's third-largest economy.
China's manufacturing sector grew last month at the fastest pace since April 2008, according to the country's official purchasing managers' index released on Sunday.
Rising Chinese demand helped drive South Korea's economy to its fastest growth in seven years in the third quarter, underscoring how Asia is leading the global economy and trade out of the worldwide downturn.
You wouldn't think the men who run the oil-rich country of Nigeria would have much spring in their step these days. The nation is plagued by a never-ending guerrilla war, one that has trimmed the country's oil production to two-thirds of its potential capacity.
Former Japanese Finance Minister Shoichi Nakagawa, who resigned from his post after appearing intoxicated at a news conference earlier this year, was found dead in his home Sunday, police said.
China's manufacturing sector expanded for the sixth straight month in August to a 16-month high, according to the official purchasing managers' index, an indication that the economy continued to see strong recovery.
Japan's July exports fell more sharply on a year-on-year basis than in June, highlighting concerns that the world's second-largest economy faces a slow recovery.
As the U.S. stock market tosses and turns, sustainable growth -- both in corporate profits and economic output -- seems far off. In China, on the other hand, recovery already seems to be a reality: Real estate, auto, and industrial sales have all bounced back this year, driving stocks on the Shanghai exchange up 50% since February. The velocity of the Chinese rebound surprised the World Bank, which recently increased its estimate for the country's GDP growth this year from 6.5% to 7.2%. Jing Ulrich, J.P. Morgan's Chinese equities strategist, thinks that figure is still too low. "China can still achieve 8% growth," she says. "Everything is happening very fast there."
China can expect 7.2 percent growth in 2009, according to the World Bank, which says the country's fiscal policies in the face of a global financial slowdown have kept the Chinese economy "growing respectably."
China can expect 7.2% growth in 2009, according to the World Bank, which says the country's fiscal policies in the face of a global financial slowdown have kept the Chinese economy "growing respectably."
Japan's Prime Minister Taro Aso announced a historic ¥15 trillion ($150 billion) stimulus package Friday aimed to turn around the recession in the world's second largest economy.
Unemployment in Japan rose to 4.8 percent in March, its highest level in seven years and a nearly half-point rise from February, the government reported Friday.
It feels nothing like 2007 these days, except in one respect: Chinese stocks are outperforming again. The MSCI China Index, which tracks stocks traded in Hong Kong, has climbed 67% since late October (the S&P 500 has risen 2% in that time).
Japan's Prime Minister Taro Aso announced a historic $150 billion stimulus package Friday aimed to turn around the recession in the world's second-largest economy.
Steeped in a recession, with a surge in bankruptcies and sentiment among its largest manufacturers at a record low, Japan is expected to announce ¥15 trillion ($150 billion) in extra spending Friday.
As President Obama discusses the economic crisis with world leaders at the G-20 summit this week, two nations' experiences wrestling with similar financial troubles in recent history could offer recovery lessons for the United States.
Asia's economic growth will tumble to the slowest pace since the 1997-1998 Asian financial crisis, the Asian Development Bank (ADB) said in a report released Tuesday.
The National People's Congress -- the marquee event of China's political calendar -- opened Thursday with Premier Wen Jiabao pledging economic growth amid a growing national deficit and the global financial crisis.
China's National People's Congress convened Thursday in Beijing, with Premier Wen Jiabao saying China's economy eyed an 8 percent growth target and that the nation was ready to end "a state of hostility" with Taiwan.
Singapore's economy shrank by 4.2 percent in the fourth quarter of 2008, the Ministry of Trade and Industry said Thursday, as it forecast the economy would contract between 2 and 5 percent this year.
China's sharp economic slowdown is set to cause more labor unrest amid factory closures and mass layoffs triggered by the global financial crisis, a government minister and economists have warned.
The United States has sneezed. And while it may be too strong to say that China has now caught a cold, it has, at the very least, come down with a bit of a runny nose.
The worst financial crisis in decades is slowing China's industrial boom, officials said Monday, as gloomy news from other nations deepened worries about a global recession.
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