World Bank cuts India growth forecast
In the wake of the IMF’s decision to cut its growth forecast for India, the World Bank has slashed the country’s growth forecast for the current financial year to 4.7 percent from an earlier projection of 6.1 percent.
Asia shares fall as U.S. shutdown continues
Asian stocks fell on Monday as the U.S. shutdown continued. Tokyo lost 1.22 percent, or 170.99 points, to end at 13,853.32, Sydney fell 0.90 percent, or 46.9 points, to 5,161.1 and Seoul shed 0.13 percent, or 2.56 points, to 1,994.42.
U.S. firm Kohlberg Kravis Roberts to buy stake in Chinese appliance firm
U.S. investment firm Kohlberg Kravis Roberts (KKR) has agreed to buy a 10 percent share in China’s biggest appliance maker Qingdao Haier.
Japan’s economy “recovering moderately” says BoJ
The Bank of Japan has said the world’s third-largest economy is “recovering moderately” and its board has voted unanimously to hold off on expanding its huge stimulus programme.
ICBC first half profit up 12.4%
The Industrial and Commercial Bank of China (ICBC) has announced that its net profit rose 12.4 percent year-on-year for the first half of 2013, helped by interest income growth.
Bank of China formalises alliance with South Africa’s Nedbank
South Africa’s Nedbank and the Bank of China have entered into a strategic business cooperation agreement designed to grow business flows between China and Africa, as well as provide support to investors.
Suspended jail sentences for ex-Olympus execs
Last month a Japanese court handed suspended sentences to three ex-Olympus executives accused of engineering accounting fraud at the camera and medical equipment maker.
CKI-led consortium buys Dutch waste company for HK$9.7b
A consortium of Hong Kong billionaire Li Ka-shing’s companies has bought a waste management company in the Netherlands.
Invest in Asia
Asia Outlook talks to Zach Wilson, the Managing Director of Alfa Tech VestAsia, and learns more about the company’s growth in Southeast Asia.
Yen breaks 100 mark versus dollar
The Japanese yen has breached the 100 yen to the U.S. dollar mark for the first time since April 2009.
