Gold Posts Strong Month

Gold futures topped $US1250 an ounce, capping the biggest monthly gain since April, on speculation the dollar will decline, boosting the allure of the precious metal as a haven. The dollar fell as much as 0.3 per cent against a basket of six major currencies, including the yen and the euro, as Treasuries headed for [...]

ASEAN Markets May Lead Rebound

USA markets ended a bad month last night. The Dow Jones industrial average was up 4.99 points, or 0.05 per cent, to end unofficially at 10,014.72. The Standard & Poor’s 500 Index was up just 0.41 of a point, or 0.04 per cent, to finish unofficially at 1049.33. But the Nasdaq Composite Index was down [...]

ASEAN News Summary

Get the best in ASEAN News Daily at www.aseanaffairs.com Thailand plans high-speed rail The cabinet of Thailand is reviewing a joint investment plan between Thailand and China to develop high-speed train routes in Thailand. Everyone agrees that faster rail transit will benefit the country economically and socially. • Microfinance at Thai post offices Thailand post [...]

US Fed minutes ignite recovery fears

Global Market shares fell after the US Federal Reserve raised concerns that it may have ruled out large-scale asset purchases. Throughout much of Tuesday’s session there has been an overriding sense that fiscal and monetary authorities are bumbling their lines in the face of a dangerous plot twist for the global economy, pushing traders away [...]

Japan: JAL submits rehab plan to Tokyo District Court

Japan: JAL submits rehab plan to Tokyo District Court, discount carrier in sight Japan Airlines Corp.(JAL), currently undergoing a state-backed rehabilitation, announced Tuesday it will retire 103 of its fleet and scrap 10 international and 39 domestic routes as part of its turnaround proposal submitted to the Tokyo District Court Tuesday. Transport Minister Seiji Maehara [...]

Combined profits of China’s listed companies rise in 1-Half 2010

Most of China’s listed companies posted strong growth in profits amid market fluctuations in 1-H, according to figures in reports released by those companies. Of the 1,947 companies listed on the Shanghai and Shenzhen stock exchanges, 1,700 made profits while 247 firms posted losses, according to the markets’ half-year report disclosures, which ended Tuesday. The [...]

BRIC: Russian government to regulate food prices

A price hike of over 30% for buckwheat, flour, millet and salt within a month in several Russian regions has given the Russian government a formal right to start regulating the prices, Russian business daily Vedomosti reported Tuesday. The Ministry of Economic Development drafted a list of 45 regions where this measure could be enforced. [...]

South Korea and Peru reach Free Trade pact

South Korea and Peru reach Free Trade pact to expand trade South Korea on Tuesday wrapped up its one-and-a-half-year-long free trade negotiations with Peru and agreed to sign a deal. Holding a ministerial-level meeting in Lima, South Korean Trade Minister Kim Jong-hoon and his Peruvian counterpart Martin Perez reached an agreement on a bilateral free [...]

ASEAN: Indonesia’s Merpati to purchase 15 planes from China

Indonesian State-Owned Enterprises Minister Mustafa Abubakar has said he expects the purchase of 15 new aircraft from China for state-run Merpati Nusantara airline is to be settled by the end of the year, a media reported Tuesday. “Hopefully, we can bring in all of the planes by end of this year,” Mustafa was quoted by [...]

Hong Kong records 815M HK$’s surplus

HK: Hong Kong records 815M HK$’s surplus in July An 815M HK $’s surplus was recorded in the Hong Kong government’s financial results for July, but a 9.5B HK $’s deficit was still recorded for the financial year’s 1st 4 months. The Financial Services and the Treasury Bureau of Hong Kong Tuesday said 28.7B HK [...]

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