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| China starts probe into Tetra Pak 'dominance': media Thursday, Jul 04, 2013 11:57 PM PDT SHANGHAI (Reuters) - China is investigating Swedish packaging giant Tetra Pak over the possible "misuse of its market dominance", state media reported on Friday, as authorities ramp up scrutiny of foreign firms in the world's second biggest economy. The State Administration for Industry and Commerce (SAIC) has launched the nationwide investigation, ChinaNews.com reported on its website citing unidentified sources. SAIC and Tetra Pak officials in China could not be reached for comment. ... Full Story | Top |
| Japan's DoCoMo holds out to iPhone mania, but at what cost? Thursday, Jul 04, 2013 11:49 PM PDT  By Sophie Knight and Maki Shiraki TOKYO (Reuters) - NTT DoCoMo Inc, Japan's largest mobile provider and a pioneer of the mobile Internet, is one of just a few holdouts among the world's big mobile carriers not offering Apple Inc's iPhone to its 60 million customers. It is paying heavily for that obstinacy - with a net 3.2 million users jumping ship to its two domestic rivals over the last 4-1/2 years - but is determined to protect the walled garden of services it has built around its own smartphones. ... Full Story | Top |
| S&P revises Senegal's outlook to stable from negative Thursday, Jul 04, 2013 11:49 PM PDT (Reuters) - S&P has revised Senegal's sovereign credit rating outlook to stable from negative and affirmed the country's 'B+/B' long- and short-term foreign and local currency ratings. S&P said it revised the outlook because it believed the Senegalese government will succeed in cutting its fiscal deficit and carry out reforms that will lead to faster economic growth. Full Story | Top |
| Asian shares buoyed by ECB, BoE policy signals Thursday, Jul 04, 2013 11:48 PM PDT  By Masayuki Kitano and Ian Chua SINGAPORE/SYDNEY (Reuters) - Asian stocks rose on Friday, while sterling hit a five-week low, after two of Europe's most important central banks surprised the market by assuring investors they were in no hurry to wind down stimulus. But markets were cautious as they waited for a U.S. jobs report that could bolster, or derail, the case for the Federal Reserve to start dialing down its asset-buying program this year. European shares were seen headed for a mixed open. Financial spreadbetters expect Britain's FTSE 100 to open around 0. ... Full Story | Top |
| UN seeks $1 billion to feed Sahel, says Syria distracting Thursday, Jul 04, 2013 11:36 PM PDT By Daniel Flynn DAKAR (Reuters) - The United Nations appealed on Wednesday for more than $1 billion to help feed 11 million people at risk across Africa's arid Sahel belt, warning that the crisis in Syria was distracting donors from the humanitarian situation there. The U.N. Office for the Coordination of Humanitarian Affairs (OCHA) said that this year's war in northern Mali, where a French-led military campaign destroyed an Islamist enclave, had worsened annual food shortages across the region. ... Full Story | Top |
| Angola May forex reserves rise to $34.4 bln - central bank Thursday, Jul 04, 2013 11:35 PM PDT LISBON (Reuters) - Angola's foreign exchange reserves rose to $34.4 billion in May from $33 billion in April, the central bank said in a statement posted on its website on Thursday. Angola, Africa's second-biggest oil producer after Nigeria, depends on crude exports for over 95 percent of its foreign exchange earnings. Full Story | Top |
| Ivory Coast agrees second port deal with Bollore-led group Thursday, Jul 04, 2013 11:34 PM PDT  By Ange Aboa ABIDJAN (Reuters) - Ivorian authorities have agreed a preliminary deal for a new container port with a consortium led by French conglomerate Bollore, the managing director of the port of Abidjan said, despite a rival lodging a complaint at a regional court. The deal, which also includes France's Bouygues and a subsidiary of Danish shipping giant Maersk, is due to be finalised by the government within weeks, Issouf Fadika told Reuters on Wednesday. ... Full Story | Top |
| South Africa's net reserves down to $44.604 bln in June Thursday, Jul 04, 2013 11:30 PM PDT  JOHANNESBURG (Reuters) - South Africa's net gold and foreign exchange reserves fell for the fifth straight month in June, dipping to $44.604 billion from $45.416 billion in May, data from the Reserve Bank showed on Friday. Gross reserves were down to $46.979 billion from $48.146 billion in May while the forward position, which represents the Bank's unsettled spot or swap transactions, was up at $4.157 billion from $3.883 billion in May. Full Story | Top |
| China 'highly optimistic' about solar trade talks with EU Thursday, Jul 04, 2013 11:18 PM PDT  By Charlie Zhu and Samuel Shen HONG KONG/SHANGHAI (Reuters) - China expects to resolve a muli-billion dollar solar trade spat with the European Union by next month, a senior Chinese industry official said on Friday, after a newspaper reported that Beijing has made a new offer with EU to settle the dispute. The solar dispute has the potential to affect 21 billion euros ($27.1 billion) worth of imported Chinese solar panels, cells and wafers from manufacturers such as Trina Solar , Yingli Green Energy and Suntech Power Holdings . ... Full Story | Top |
| GM's no-frills "people mover" spins sales in Indonesia Thursday, Jul 04, 2013 11:00 PM PDT  (Reuters) - General Motors Co. is banking on a no-frills "people mover" to help it make inroads into the Japanese-dominated Indonesian car sector, one of Asia's hottest auto markets. Marcos Purty, head of GM's Indonesian operations, told Reuters that production of the Chevrolet Spin - a van with three rows of seats - at its newly restarted plant near Jakarta has significantly pushed up sales. The Spin, which is priced as low as at 139.7 million rupiah ($14,360), hit Chevrolet showrooms in Indonesia in early May, and its impact has been felt almost instantly, according to Purty. ... Full Story | Top |
| Uniqlo brings fashion back to the source in Bangladesh Thursday, Jul 04, 2013 10:48 PM PDT  By Nandita Bose and Ruma Paul DHAKA (Reuters) - On a bustling Dhaka street full of buyers looking for deals on export rejects and designer fakes, a flight of stairs leads up to an anomaly in a country known for producing international clothing brands - a global high street fashion store. Uniqlo, owned by Japan's Fast Retailing Co , on Friday opened two stores in Bangladesh, a favourite low-cost sourcing hub for many international retailers but a country where, until now, they have not sold their clothes. ... Full Story | Top |
| Steady U.S. job gains to keep Fed's focus on tapering Thursday, Jul 04, 2013 10:38 PM PDT  By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth probably slowed in June, but not enough to shift the Federal Reserve away from expectations that it will start scaling back its massive monetary stimulus later this year. Employers are expected to have added 165,000 new jobs to their payrolls last month, according to a Reuters survey of economists, slightly below the 175,000 positions created in May. The unemployment rate is expected to fall a tenth of a percentage point to 7.5 percent. The Labor Department will release its closely watched employment report on Friday at 8:30 a.m. ... Full Story | Top |
| UK teams with defense and telecom companies on cyber security Thursday, Jul 04, 2013 10:30 PM PDT By Brenda Goh LONDON (Reuters) - Nine of the world's biggest weapon makers and telecoms providers are teaming up with Britain to bolster the country's cyber security, aiming to tackle the increasing threat of hacking and other such attacks. Britain made cyber security one of its top national defence priorities in 2010, citing the growing menace of digital attacks from criminals and state-sponsored overseas groups. ... Full Story | Top |
| A Minute With: Vikramaditya Motwane on O. Henry in Bollywood Thursday, Jul 04, 2013 10:13 PM PDT By Shilpa Jamkhandikar MUMBAI (Reuters) - Vikramaditya Motwane first caught the attention of Bollywood in 2010 when his debut film - a small-budget tale of teenage angst - made it to competition at the Cannes Film Festival in the category for emerging directors. Three years after the success of that movie, "Udaan", or "Flight", Motwane is back with a big-ticket period romance inspired by "The Last Leaf", a short story by U.S. writer O. Henry in which a leaf painted on a wall saves the life of an ill young woman. ... Full Story | Top |
| Samsung Electronics' second quarter misses forecast as smartphone worries deepen Thursday, Jul 04, 2013 08:59 PM PDT  By Miyoung Kim SEOUL (Reuters) - Samsung Electronics Co Ltd missed already modest expectations for its quarterly earnings guidance on Friday, deepening worries that its smartphone business may have peaked, as growth in sales of its blockbuster Galaxy phones begins to wane and new rivals emerge to eat away at its market share. The Galaxy S, powered by Google's free Android platform, propelled the South Korean firm into the top rank of smartphone makers in 2012, overtaking Apple Inc whose iPhone had set an industry standard five years earlier. ... Full Story | Top |
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