Samsung issues China apology
Samsung Electronics has said it “sincerely apologises” to Chinese consumers following a broadcast on Chinese Central Television (CCTV) claimed that several models of its phones – including Galaxy S3 and Note2 – were malfunctioning.
China Mobile quarterly profit falls on tougher competition
Quarterly profit at the world’s largest phone company, China Mobile, has fallen due to tougher competition, the company has announced.
Japan posts September trade deficit
Japan posted a trade deficit for the 15th month in a row in September as a weak yen pushed up import costs.
China reports third quarter growth
China’s gross domestic product expanded 7.8 percent year-on-year in July-September, the first rise in three quarters.
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.
U.S. avoids devastating default, Asian shares up
Asian shares mostly rose on Thursday after U.S. legislators passed a last-minute bill to end a 16-day government shutdown and raise the country’s borrowing limit.
Japan hit by powerful typhoon
More than a dozen people have been killed after a powerful typhoon – Typhoon Wipha – caused landslides and flooding on Izu Oshima Island, south of Japanese capital Tokyo.
Rio Tinto told to reinstate unfairly dismissed Mongolian worker
The supreme Court in Mongolia has ordered Rio Tinto to reinstate an unfairly dismissed employee, and pay compensation.
High hopes for U.S. debt deal
There is increasing optimism of deal being struck to end the current U.S. government shutdown and raise the federal debt ceiling. According to U.S. media, the deal currently under discussion would fund the government until 15 January while raising the debt ceiling until early to mid-February. Senate leaders have expressed optimism that a deal could be struck but any deal would also need to pass the House of Representatives. Senate Democratic Majority Leader Harry Reid told the chamber on Monday: “We’ve made tremendous progress… perhaps tomorrow will be a bright day.” Tokyo stocks closed up 0.26 percent on the news. The U.S. must raise its $16.7 trillion borrowing limit by Thursday. Image: © Getty Copyright is owned by Asia Outlook and/or Outlook Publishing. All rights reserved.
Indonesian businessman to buy Inter Milan
Indonesian businessman Erick Thohir is to buy a controlling interest in Italian football giants Inter Milan, president Massimo Moratti (pictured) has confirmed.
