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May, 3, 2016

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Business > Asia
Japan announces US$7 billion plan to develop Mekong region
Japan's foreign minister announced a US$7 billion initiative Monday to promote development in Southeast Asia's Mekong region, which encompasses parts of Vietnam, Laos and Thailand through which the river flows.
 
Burundi economy battered by year-long crisis
A year into a political crisis which has claimed about 500 lives, driven a quarter of a million into exile and prompted Western donors to suspend government aid, Burundi's economy is on the ropes.
 
Japan's Nikkei leads losses in limited Asian trade
Tokyo stocks plunged more than three percent as a surging yen hit exporters Monday, leading a sell-off across Asia in holiday-thinned trade and after worries about the global economy fuelled sharp losses in New York and Europe.
 
Foreign institutional investors in Taiwan recorded a net fund inflow for the third consecutive month in April, registering US$1.75 billion, according to statistics released Thursday by the Financial Supervisory Commission (FSC).
 
Yuanta Securities Investment Trust Co. (元大投信), a subsidiary of Yuanta Financial Holding Co. (元大金), is looking to issue exchange-traded funds (ETFs) linked to the Korea Stock Exchange Index 200 (KOSPI 200).
 
South Korea's leading low-cost airline Jeju Air launched daily flights connecting Incheon International Airport and Taiwan Taoyuan International Airport on Sunday, in a bid to attract more Taiwanese passengers and boost the country's tourism.
 
The yen's soaring rally took a breather in Asian trading Monday after Japanese finance minister Taro Aso warned over the surge, vowing to take action "when necessary."
 
Fake stones prove threat to Sri Lanka's gem trade
From the Queen of Sheba to Britain's Duchess of Cambridge, Sri Lanka's sapphires have adorned royalty through the ages, but a flood of cheap imitations is threatening the island's reputation for the precious stones.
 
As economic contraction continues, Taiwan is unlikely to achieve 1-percent GDP growth this year, and even risks recording negative growth, Premier-designate Lin Chuan (林全) said on Sunday.
 
A European brokerage has lowered its target for the Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) on the main board for 2016 to 8,800 points from the previous 9,000 points, citing concerns over listed companies' profitability.
 
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