Shares of Cartier owner Richemont climb on record full-year sales, new CEO
Shares of Swiss luxury group Richemont climbed as much as 6.3% Friday after the company reported record full-year sales, even as Asia-Pacific spending waned.
Asian news from China
China pledges $42 billion in a slew of measures to support the struggling property sector
BEIJING — Chinese authorities on Friday pledged new support for state-owned enterprises to enable them to buy unsold apartments, in an effort that could help developers get more funding to finish construction on pre-sold properties.
South China Sea: Philippine senators launch new project to strengthen presence on disputed Pag-asa island
As the lawmakers flew to Pag-asa Island – the largest island in the Philippine-claimed Kalayaan Island Group within the contested Spratly Islands – on Thursday, they reported being challenged by Chinese forces who sent a radio message to their plane instructing them to leave what it claimed to be Beijing’s territory.
Will Vietnam’s anti-corruption drive usher in pro-China hardliners and impact US ties?
The party has shattered its reputation as a stable and secretive steward of Southeast Asia’s second-fastest growing economy with an unprecedented campaign to root out corrupt officials conducted in front of a stunned public.
US opens door for China advances in the Pacific
China and the US are competing for liquid real estate, undersea resources and military advantage among the South Pacific’s isolated island nations, a superpower contest to win influence over their economies, airstrips, seaports and security forces.
Sasakawa keeping China-Japan military lines open
Chinese military personnel are visiting their Japanese counterparts this week, raising hopes of more stable bilateral relations or at least greater familiarity to manage any future crises. What it probably won’t do, however, is make any fundamental change in their East Asia stand-off.
China Says It Will Start Buying Apartments as Housing Slump Worsens
Chinese officials signaled their growing alarm over the country’s worsening real estate market on Friday, unveiling a plan to step in to buy up some of the vast housing stock and announcing even looser rules for mortgages.