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Chinese manufacturing expands in January, official PMI shows, pointing to economic stabilization


China’s official manufacturing Purchasing Managers’ Index (PMI) showed the industrial sector continued to expand in January and a tad faster than expected, as the mainland economy shows signs of stabilizing. The manufacturing PMI came in at 51.3 in January, down a smidgen from 51.4 in December, but still better than a Reuters poll forecast of 51.2. A reading above 50 ...

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India Budget 2017: Promise to boost rural spending


India’s government has unveiled its annual budget, with promises to boost rural spending and pull more people out of poverty. It comes months after the controversial withdrawal of high value banknoteswhich caused chaos in the economy, hurting farmers and the poor most. Finance Minister Arun Jaitley allocated funds to bring more irrigation, roads, electricity and sanitation to villages. Farmers would ...

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India’s budget to balance growth, fiscal restraint as Modi’s cash curbs dent economy


As India’s economy continues to reel in the aftermath of last year’s demonetization drive, Finance Minister Arun Jaitley must balance between the need for stimulating growth and continuing fiscal discipline when he presents the 2017-2018 budget on Wednesday. India’s fiscal year starts April 1, and the outlook has certainly changed from last year. Entering 2016 as the world’s fastest-growing economy ...

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Mitsubishi Motors expects smaller full-year loss on weaker yen

The company logo of Mitsubishi Motors is seen behind a traffic sign at its headquarters in Tokyo, Japan, August 2, 2016. REUTERS/Kim Kyung-Hoon

Mitsubishi Motors Corp (7211.T) on Tuesday said it expects a smaller full-year net loss than previously forecast due to lower costs and the impact of a weaker yen, after swinging to an operating profit for the third quarter. Japan’s sixth-largest carmaker, which is recovering from a mileage cheating scandal, posted an 8.4 billion yen ($73.85 million) operating profit for October-December, ...

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Asian shares rattled by Trump policy worries, dollar soft

A man walks past an electronic board showing Japan's Nikkei average (top L), the Dow Jones average (top R) and the stock averages of other countries' outside a brokerage in Tokyo, Japan, January 26, 2017.  REUTERS/Kim Kyung-Hoon

Asian shares slipped on Tuesday as stringent curbs on travel to the United States ordered by President Donald Trump brought home to investors that he is serious about carrying out his controversial campaign pledges. Global stocks posted their biggest loss in six weeks on Monday after Trump signed an executive order to bar Syrian refugees indefinitely and suspend travel to ...

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Trump pulls U.S. out of Pacific trade deal, loosening Asia ties

U.S. President Donald Trump plays host to a reception and meeting with U.S. congressional leaders including Senate Minority Leader Chuck Schumer (D-NY) (L) and House Speaker Paul Ryan (R-WI) (2nd L) in the State Dining Room at the White House in Washington, U.S. January 23, 2017.  REUTERS/Jonathan Ernst

U.S. President Donald Trump formally withdrew the United States from the Trans-Pacific Partnership trade deal on Monday, distancing America from its Asian allies, as China’s influence in the region rises. Fulfilling a campaign pledge to end American involvement in the 2015 pact, Trump signed an executive order in the Oval Office pulling the United States out of the 12-nation TPP. ...

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Samsung blames batteries for Galaxy Note 7 fires


Samsung is blaming poorly designed and manufactured batteries for the overheating problems that caused some of its Galaxy Note 7 phones to catch fire. “Our investigation, as well as the investigations completed by three independent industry organizations, concluded that batteries were found to be the cause of the Note 7 incidents,” the world’s largest smartphone maker said Monday. The results ...

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Xiaomi executive Barra, who drove smartphone maker’s global push, steps down

Xiaomi's Vice President Hugo Barra looks on in front of the company's logo during a group interview after the launching ceremony of Redmi Note 3 in Hong Kong, China March 21, 2016.      REUTERS/Bobby Yip - RTSBEFO

Hugo Barra, the most prominent global executive at China’s Xiaomi Inc [XTC.UL] and the face of the smartphone maker’s global expansion, has left the company citing health concerns and a new role. In a social media post on Monday, Barra, Xiaomi’s vice president in charge of global operations, said he was leaving the company after three-and-a-half years for a new ...

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Malaysia Keeps Benchmark Rate on Hold as Currency Faces Pressure


Malaysia’s central bank kept its benchmark interest rate unchanged for a third straight meeting to help bolster the currency as policymakers in emerging economies gird themselves for tighter U.S. monetary policy. Bank Negara Malaysia held its key rate at 3 percent, it said in a statement in Kuala Lumpur Thursday, as predicted by all 17 economists in a Bloomberg survey. ...

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Indian government wants Apple, but not all officials are biting

A salesperson waits for customers at an Apple reseller store in Mumbai, India, January 12, 2017. Picture taken January 12, 2017. REUTERS/Shailesh Andrade

Some Indian officials have baulked at Apple’s (AAPL.O) demands for concessions before it assembles iPhones there, raising doubts about a spring deadline to launch a key project in Prime Minister Narendra Modi’s campaign to lure foreign investors. The country is still keen for the U.S. tech giant to produce its signature smartphones there, and Information Technology Minister Ravi Shankar Prasad ...

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