President says will be no tax hike for low-income firms, people

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China-backed AIIB approves first 4 loans worth $509 million

The China-backed Asian Infrastructure Investment Bank (AIIB) has approved its first four loans worth US$509 million as the bank holds its first annual meeting. Three of the four loans were co-financ...

Updated : 2016.06.25 15:38

SoftBank's founder reverses retirement plans, says heir apparent 'victim'

TOKYO (AFP) -- The boss of SoftBank Group on Wednesday admitted his desire to hang on to power a little longer had pushed away the former Google executive seen as his heir apparent. Masayoshi Son to...

Updated : 2016.06.22 22:16

Fed keeps interest rate steady as Brexit vote looms

WASHINGTON (AFP) -- The Federal Reserve held its key interest rate unchanged Wednesday, in part due to concerns about the disruption Britain‘s looming “Brexit” vote could have on global markets. Whi...

Updated : 2016.06.16 14:39

Alibaba sees growth rising to 48 percent in first forecast

Alibaba Group Holding Ltd. said that revenue growth will accelerate this fiscal year as China’s largest e-commerce company provided its first financial forecast since going public in 2014. The compa...

Updated : 2016.06.14 21:22

Microsoft shifts to social with huge LinkedIn deal

WASHINGTON (AFP) -- Microsoft on Monday shifted its focus to social networking with a massive $26.2 billion deal for professional social network LinkedIn. With its biggest-ever acquisition and one o...

Updated : 2016.06.14 14:51

World Bank slashes global growth forecast to 2.4%

WASHINGTON (AFP) -- A worried World Bank slashed its growth forecast for the global economy Tuesday, saying advanced economies are rebounding more slowly than expected and low commodity prices contin...

Updated : 2016.06.08 14:38

Fed Chair Yellen says poor U.S. jobs report 'concerning'

PHILADELPHIA (AFP) -- Federal Reserve Chair Janet Yellen said Monday the dismal U.S. jobs report for May was "concerning" and "disappointing", but stressed she was still optimistic on the outlook for...

Updated : 2016.06.07 14:52

ECB holds rates, gives current stimulus time to work

VIENNA (AP) -- The European Central Bank is expected to underline that its current stimulus measures are boosting the economy of the 19 countries that use the euro_ and need time to work before any n...

Updated : 2016.06.02 21:17

Bullard says world well prepared for U.S. rate hike

The president of the U.S. Federal Reserve Bank of St. Louis hinted at a possible U.S. rate hike in the near future Monday, claiming the world is well prepared for a U.S. rate hike. "My sense is that...

Updated : 2016.05.30 10:47

Janet Yellen says Fed could raise rates in coming months

Federal Reserve Chair Janet Yellen said Friday that an interest rate hike would be appropriate in the coming months if the economy keeps improving. While economic growth was relatively weak at the e...

Updated : 2016.05.28 10:49

China weakens yuan fixing to lowest since 2011

China’s central bank weakened its currency fixing to the lowest since March 2011 as the dollar strengthened. The reference rate was lowered by 0.3 percent to 6.5693 per dollar. A gauge of the dollar...

Updated : 2016.05.25 14:35

China criticizes U.S. steel anti-dumping measures

BEIJING (AP) -- China has criticized U.S. anti-dumping penalties imposed on Chinese steel amid mounting complaints Beijing is exporting at improperly low prices to clear a backlog at home. The Comme...

Updated : 2016.05.19 15:13

Fed: June hike likely if economy picks up

WASHINGTON (AP) -- Catching many investors off guard, the Federal Reserve made clear Wednesday that an interest rate hike in June is likely if the economy keeps improving. The minutes of their most ...

Updated : 2016.05.19 15:10

Dollar rallies on US interest rate hike talk

TOKYO (AFP) - The dollar rallied broadly in Asia on Wednesday as a string of US economic data and bullish commentary from two Federal Reserve policymakers spurred talk of a US interest rate hike. Th...

Updated : 2016.05.18 14:41

Elephant in room at G7 is sure to be yen

When finance chiefs and central bankers from the Group of Seven countries gather this week at a hot springs resort in northern Japan, the official agenda has them focusing on ways to revitalize globa...

Updated : 2016.05.18 14:41