asia

Australia raised interest rates in a bid to control inflation amid an export boom. The country's Reserve Bank raised rates to 4.75 % from 4.5%, surprising most analysts, The Associated Press reported. Booming demand for Australian minerals from Asian countries including China and South Korea...

Singapore Exchange agreed to buy Australian exchange ASX for A$8.4 billion ($8.3 billion). The Singapore Exchange offer is worth A$48 per share of ASX, a 37% premium over the company's closing price on Oct. 22, Bloomberg News reported. The two exchanges will be separate legal entities and subject...

China's economy grew at an annual rate of 9.6% of the third quarter, slightly ahead of expectations. The economy's vigorous growth comes as Chinese policy makers grow increasingly concerned about rising prices. Inflation accelerated to an annual rate of 3.6% in September, the highest in almost...

China vowed it would maintain the supply of rare minerals and said it may boost 2011 exports of the substances. The Chinese Commerce Ministry denied reports that it would further reduce export quotas. "China will continue to supply rare earth to the world," the ministry said in a fax to...

China hiked its interest rates for the first time since 2007 in a bid to combat rising inflation. The People's Bank of China raised its one-year deposit rate to 2.5% from 2.25%, while the lending rate rose to 5.56% from 5.31%, Bloomberg News said. Sponsored Links Inflation rose to 3.5% in...

Treasury Secretary Timothy Geithner said the U.S. favors a "gradual, but still significant" appreciation of the yuan. Geithner said the U.S. would prefer China let market forces drive up the value of the currency, The Wall Street Journal said. Geithner noted that the yuan had strengthened by...

How can investors earn double-digit returns? According to bond guru Bill Gross, they probably can't: "A future of low investment returns, and a heap of trouble for those expecting more, is what lies ahead," Gross warns in his latest investment outlook.

Bill Gates and Warren Buffett are scheduled to dine with Chinese businessmen Wednesday in a bid to promote philanthropy in the world's second-largest economy. Sponsored Links The dinner will be held at a mansion, modeled after the baroque 17th century Chateau de Maisons-Laffitte in France, on the...

Asian economies will grow by 8.2% in 2010, according to a new report. "Strong export recovery, robust private demand, and the sustained effects of stimulus policies allowed the region to experience solid growth in the first half of 2010," The Asian Development Bank said. "This improved performance...

American International Group (AIG) may sell two Japanese life-insurance units to Prudential Financial Inc. (PRU) for a total of as much as $5 billion, The Wall Street Journal said. The agreement is currently "a few days away" from being ready, The Wall Street Journal said without naming its...