December 19, 2017 / 4:37 AM / a year ago

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World Bank raises China 2017 growth forecast, maintains 2018 outlook

BEIJING - The World Bank on Tuesday raised its forecast for China’s economic growth in 2017 to 6.8 percent from 6.7 percent it projected in October, as personal consumption and foreign trade supported growth. (WORLDBANK-CHINA/, moved, 239 words)

Japan upgrades GDP growth forecast, CPI seen far below BOJ target

TOKYO - Japan’s government revised up its growth projections for the current and next fiscal years, forecasting the economy to expand 1.9 percent and 1.8 percent respectively on the back of steady improvement in domestic demand, the Cabinet Office said on Tuesday. (JAPAN-ECONOMY/GDP (URGENT), moved, 274 words)

BHP says likely to quit global coal lobby group

MELBOURNE - Global miner BHP Billiton said on Tuesday it has taken a preliminary decision to quit the World Coal Association citing disagreement over climate change, and might also withdraw from the U.S. Chamber of Commerce over mining industry rules. (BHP-COAL/CLIMATECHANGE, moved, 275 words)


Asia stocks up on U.S. tax-reform optimism, dollar treads water

TOKYO - Asian stocks advanced on Tuesday after a record-setting session on Wall Street on bets that U.S. lawmakers would pass sweeping tax legislation, while the dollar treaded water as traders were circumspect about the bill’s economic impact. (GLOBAL-MARKETS/ (WRAPUP 2), updating throughout the day, by Shinichi Saoshiro, 469 words)

Dollar steady as investors monitor tax bill’s progress

TOKYO - The dollar remained mired in its recent ranges on Tuesday, as optimism that the U.S. tax reform bill would pass duelled with concerns about what its ultimate effect on growth would be. (GLOBAL-FOREX/, updating throughout the day, by Lisa Twaronite, 395 words)

Gold holds steady; investors eye passage of U.S. tax bill

Gold was little changed on Tuesday amid a steady dollar, with investors considering the potential impact of a sweeping tax legislation in the United States that Congress appeared all but certain to pass this week. (GLOBAL-PRECIOUS/ (UPDATE 1), updating throughout the day, by Apeksha Nair, 412 words)

Oil range-bound as disruptions offset by rising U.S. output

SINGAPORE - Oil markets edged up on Tuesday as the Forties pipeline outage in the North Sea and voluntary production restraint led by OPEC supported crude, although soaring output in the United States put a cap on gains. (GLOBAL-OIL/ (UPDATE 1), updating throughout the day, by Henning Gloystein, 437 words)


Bitcoin not yet proven as credible currency - Japan finmin

TOKYO - Japanese Finance Minister Taro Aso said on Tuesday that bitcoin has not been proven to be a credible currency and that he would watch its developments in the near-term. (MARKETS-BITCOIN/JAPAN-FINMIN (UPDATE 1), moved, 159 words)

China property investment to slow further in 2018: think tank - media

SHANGHAI - Growth in China’s real estate investment is likely to slow further next year due to regulations and a corresponding fall in property sales, the China Securities Journal reported a senior think tank official as saying on Tuesday. (CHINA-ECONOMY/PROPERTY, moved, 217 words)

Australian central bank grows in confidence, but consumer spending a major risk

SYDNEY - Australia’s central bank has become more confident about the economic outlook in recent months, but weakness in consumer spending remains a “significant risk” amid slow income growth and high debt levels. (AUSTRALIA-ECONOMY/RBA (CORRECTED), moved, 431 words)

New Zealand GDP seen slowing in third quarter as economic headwinds whip up

WELLINGTON - New Zealand gross domestic product is seen slowing in the third quarter as a softening housing market and struggling dairy prices create headwinds that could endanger next year’s optimistic official forecasts. (NEWZEALAND-ECONOMY/GDP (PREVIEW), by Charlotte Greenfield, 389 words)


AWE raises reserves estimate at flagship gas field amid takeover offers

Australian gas producer AWE Ltd raised the reserves estimate on its flagship Waitsia gas field, and said further upgrades were likely, raising the stakes for two suitors vying to take over the company. (AWE-RESERVES/WAITSIA (UPDATE 1), moved, 206 words)


Australia’s ANZ smaller but better, CEO tells shareholders

SYDNEY - Australia and New Zealand Banking Group (ANZ) said on Tuesday its strategy of selling non-core business units would help it increase shareholder returns in the face of difficult trading conditions. (ANZ BANK-AGM/ (moved), by Paulina Duran, 402 words)

Japanese construction firms targeted in fresh raids

TOKYO - Tokyo prosecutors raided the headquarters of Japanese construction firms Taisei Corp and Obayashi Corp on Tuesday over alleged antitrust violations linked to $80 billion worth of magnetic levitation (maglev) train projects. (JAPAN-RAILWAY/PROBE (UPDATE 1, TV, PIX), moved, 187 words)

China to publish code of conduct for SOEs investing overseas-China Daily

SHANGHAI - China will soon release a code of conduct for state-owned enterprises making outbound investments as the country looks to curb risks to its financial security, the China Daily newspaper reported citing an unnamed state planning official. (CHINA-ECONOMY/ODI, moved, 146 words)

NZME says NZ High Court upholds move to block purchase of Fairfax unit

NZME Limited, the owner of New Zealand’s top-selling newspaper, said on Tuesday that the country’s High Court upheld the competition regulator’s decision to block its purchase of Fairfax Media Limited’s New Zealand unit. (NEWZEALAND-AUSTRALIA/MEDIA (UPDATE 2), moved, 269 words)

Australia’s Caltex sees higher FY profit on robust premium fuels sales growth

DEC 19 (REUTERS) - Caltex Australia Ltd said on Tuesday it expected its full-year underlying profit to rise as much as 18.3 percent, helped by strong growth in premium diesel sales. (CALTEX AUSTRALIA-OUTLOOK/ (UPDATE 1), moved, 273 words)

Ride-hailing firm Grab launches services in Cambodia

SINGAPORE/PHNOM PENH - Ride-hailing firm Grab on Tuesday said it has launched services in Cambodia, expanding its presence to an eighth country in Southeast Asia where it is the biggest rival of Uber Technologies Inc. (GRAB-CAMBODIA/ (UPDATE 2, PIX), moving shortly, by Aradhana Aravindan and Prak Chan Thul, 300 words)

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