Feb 26, 2010 11:23 AM ET
The fiscal 2011 budget plan to raise $8 billion in stake sale in the government controlled companies and $7 billion through the sale of wireless licenses. Individual income of less than $3,000 will be tax exempt. Infrastructure companies increased after the government increased spending.
Feb 26, 2010 10:06 AM ET
Japanís industrial production increase 2.5% in January. Consumer prices declined in Japan for the eleventh month in a row as higher unemployment and declining wages curb consumer spending.
Feb 25, 2010 6:58 PM ET
Tokyo market averages declined following losses in international markets. Sumitomo Trust & Banking plans to take a 20% stake in China based Nanjing Trust. Nomura plans to raise $3 billion through debt sale in the U.S.
Feb 25, 2010 6:04 PM ET
Stocks in Mumbai traded lower. Hathway Cable f& Datacom IPO closes 8% below the price. Gammon India secures contract from ISKCON. Crompton Greaves Ltd approves issue of bonus shares. L&T estimated $1.7 billion contracts to build power plants.
Feb 24, 2010 3:55 PM ET
Hong Kong fourth quarter GDP increased 2.3% and for 2009 shrank 2.7% on 12.6% decline in exports. Hong Kong increased stamp duty on luxury homes. Cathay Pacific and Air China negotiate air cargo venture. U.S. impose 12% duty on Chinese steel pipes covering $382 billion of imports.
Feb 24, 2010 9:31 AM ET
Japan exports in January surged 40.9% and recorded a trade surplus of 85.2 billion yen defying the expectations of deficit. Exports to Asia increased 68%. Showa Shell Sekiyu K.K led the decliners in the Nikkei 225 Stock Average with a loss of 9.8%.
Feb 24, 2010 8:22 AM ET
Indian Railways proposed a capital spending to increase 2.7% in the next fiscal year. Freight handled is expected to increased 6% and passenger revenues to increase 7%. The railways proposed to pay dividend of $1.2 billion to the central government.
Feb 23, 2010 7:53 AM ET
Stocks in Tokyo trading edged lower. Resource stocks, commodities and export sensitive stocks closed lower. The yen edged higher. Shipping companies led the gainers. Convenience stores sales tumble 5% to 565.2 billion in January. Ad spending falls the most since 1947 in Japan.
Feb 22, 2010 3:39 PM ET
Indiaís President Pratibha Patil said to the Parliament that the government is targeting at least 8% economic growth in the next fiscal year beginning April 1 and 9% in the following fiscal year. Steelmakers, automakers and infrastructure stocks closed higher.
Feb 22, 2010 9:04 AM ET
The benchmark index in Tokyo surged nearly 3% on the inflation and manufacturing reports in the U.S. Exporters, resource stocks, trading companies and shippers led the gainers. Dai-ichi Mutual Life Insurance filed to raise $12 billion in initial public offering.