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Monthly Archives: August 2011
China’s Yuan Could Challenge Dollar Role in a Decade
Here’s a bold prediction to feed Western worries that power is shifting inexorably to the East: China’s yuan could overtake the U.S. dollar as the world’s principal reserve currency as soon as next decade. CNBC Asia Top News and Analysis
Yuan Ends Higher, Hitting Record Before Retreating
The yuan closed higher against the U.S. dollar after hitting an all-time peak in intraday trade on Tuesday, with traders predicting further gains for the rest of the year. CNBC Asia Top News and Analysis
Posted in Latest News
Tagged Before, Ends, Higher, Hitting, Record, Retreating, Yuan
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Macarthur Backs Sweetened Peabody, Arcelor Bid
Peabody Energy and ArcelorMittal have sweetened a takeover offer for Macarthur Coal to A$ 4.9 billion ($ 5.2 billion), securing the backing of the Australian miner for the offer after a rival bidder failed to emerge. CNBC Asia Top News … Continue reading
BofA Sells Half of China Bank Stake, Raising $8 Billion
Following whirlwind negotiations through the close of Asian markets Monday, Bank of America has sold about half its 10 percent stake in China Construction Bank to a handful of sovereign-wealth funds and institutions in the U.S. and Asia, $ 8.3 … Continue reading
Posted in Latest News
Tagged Bank, Billion, BofA, China, Half, Raising, Sells, Stake
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Sino-Forest CEO Resigns Amid Allegations of Fraud
Sino-Forest, a Chinese forestry company, said its CEO and chairman has resigned and that it has placed three senior employees on administrative leave following an investigation into alleged accounting fraud. CNBC Asia Top News and Analysis
Japan’s Kaieda Ahead in Close Race for PM
CNBC Asia Top News and Analysis
Diamond Prices Soar on Growing Asian Demand
Diamonds have emerged as a haven investment alongside favorites gold and the Swiss franc, with surging demand from Asian buyers driving prices of the precious stones. The FT reports. CNBC Asia Top News and Analysis
Japan Nuke Plant Radiation Leak Exceeds Hiroshima
CNBC Asia Top News and Analysis
Posted in Latest News
Tagged Exceeds, Hiroshima, Japan, Leak, Nuke, Plant, Radiation
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No Clear Winner in Sight as Japan PM Race Kicks Off
Japan’s ruling Democratic Party formally kicked off a leadership race to pick the next prime minister as the country confronts a raft of economic ills, but with five candidates jostling for the job, no clear winner was in sight. CNBC … Continue reading
Japan PM Quits as Party Leader, Succession Wide Open
The race to pick Japan’s sixth leader in five years was in turmoil on Friday after a scandal-tainted party powerbroker looked likely to refuse to back the most popular candidate just days before a vote. CNBC Asia Top News and … Continue reading