As missile row drags on, South Korea’s Lotte still stymied in China

By Heekyong Yang and Hyunjoo Jin SEOUL, Jun 16 : Five weeks after a liberal president took office in South Korea pledging to ease tensions with China over a controversial missile defense system, the company at the centre of the dispute says it has yet to see any improvement. Lotte Group, which provided land in […]

Japan hotel won’t remove books that deny Nanjing Massacre during Olympics

By Elaine Lies TOKYO, Jun 2 : A Japanese hotelier who denies that a 1937 massacre by Japanese troops in the Chinese city of Nanjing ever took place has “no intention” of removing books with his revisionist views from his hotels during the 2020 Summer Olympics in Tokyo. Tokyo-based hotel and real estate developer APA […]

Yuan bolts to over 6-month high as cbank tries to douse depreciation views

By Winni Zhou and Andrew Galbraith SHANGHAI, May 31 : China’s yuan surged to its strongest level in more than 6 months on Wednesday on views that the central bank is now less inclined to allow the currency to weaken markedly against the U.S. dollar. The u-turn in long-held market expectations has seen the yuan […]

EU business lobby urges China to walk the talk on market opening

By Michael Martina BEIJING, May 31 : – A top European business lobby in China urged the country on Wednesday to “walk the talk” on free trade and globalisation, calling for an EU-China investment treaty within 12 months, as officials from both sides prepare for a summit this week. At the summit in Brussels on […]

Glut, Chinese gamblers fuel iron ore’s biggest rout in a year

By Manolo Serapio Jr MANILA, May 31 : A stubborn glut and selling by Chinese speculators have slashed iron ore prices this year, with traders and industry officials predicting further declines as memories fade of the steelmaking commodity’s stunning recovery in 2016. Prolonged price weakness would make business tougher again for top miners like Vale, […]

China steel PMI rises to 1-year high in May; risks rising

By Manolo Serapio Jr and Meng Meng MANILA/BEIJING, May 31 : Activity in China’s steel industry expanded at the fastest pace in a year in May, industry data showed on Wednesday, with a rise in new orders giving mills in the world’s top producer incentive to further ramp up output. However, risks in the market […]