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(MENAFN - AFP) Chinese energy firms advanced on Thursday following the latest moves to reform the country's bloated state-owned enterprises, but the gains were unable to help Hong Kong and Shanghai keep up with an Asia-wide market rally.

Another broadly upbeat batch of data on the US economy provided some support on regional trading floors, while tensions over Turkey's shooting ...

(MENAFN - AFP) South Korea said on Thursday it had ordered Volkswagen to recall 125,500 diesel vehicles, after tests confirmed the German automaker had faked emissions results from the cars' engines.

Announcing the results of the tests, the Environment Ministry also said it was fining the company 14.1 billion won ($12.3 million).

Volkswagen should submit its detailed ...

(MENAFN - AFP) French nuclear giant Areva said Thursday it had linked up with Hitachi GE Nuclear Energy to help Japan dismantle boiling-water nuclear power stations.

Following a massive accident at the Fukushima reactor, hit by a tsunami in 2011, Japan said it would shut down 11 nuclear reactors, although it has put two back on stream this year.

Areva was involved in ...

(MENAFN - AFP) Japanese Prime Minister Shinzo Abe on Thursday pledged to give $10.6 billion more to developing nations in 2020 to help them implement policies against global warming, ahead of the UN climate talks in Paris next week.

The decision to offer 1.3-trillion yen ($10.6 billion) came after Japan gave a roughly combined 2.0 trillion yen for the same purpose in 2013 ...

(MENAFN - AFP) Global telecom operators are expected to have lost $23 billion in SMS revenues by the end of 2012 as smartphone users shift to free messaging applications, according to an industry report.

Technology research company Ovum forecast the cumulative losses would reach $54 billion by the end of 2016 as the traditional Short Messaging Service (SMS) gives way to Internet-based ...

(MENAFN - AFP) Japanese mobile carrier Softbank is eyeing a multi-billion-dollar entry into the US telecoms market through the purchase of Sprint Nextel, possibly vaulting it among the top three mobile firms globally.

The potential takeover of Sprint, which Japan's leading Nikkei business daily pegged at being worth $23 billion, would also be one of Japan Inc.'s biggest-ever ...

(MENAFN - AFP) There are now 30 million more people without jobs around the world than before the global financial crisis began, the head of the International Labour Organization said in remarks published Friday.

The figures come amid a growing debate over the merits of austerity, especially in Europe, where painful budget-cutting has pushed jobless levels as high as 25 percent ...

(MENAFN - AFP) China's inflation rate slowed in September, government data showed on Monday, satisfying an official desire to control price gains, but highlighting overall weakness in the world's second-largest economy.

The consumer price index rose 1.9 percent year-on-year, the National Bureau of Statistics (NBS) said, slightly down from 2.0 percent in August.

While ...

(MENAFN - AFP) The head of Japan's Softbank admitted the firm was taking a risk after it confirmed Monday it would pay $20 billion to take over US-based Sprint Nextel in Japan Inc's biggest overseas acquisition.

Softbank said the ambitious deal would see it acquire 70 percent of Sprint Nextel, the third-biggest US mobile firm behind AT&T and Verizon Wireless, by the middle ...

(MENAFN - AFP) Finance officials from Asia and Europe expressed fears Monday of further turmoil in world markets but said the eurozone was set for a gradual recovery from its debt crisis.

The talks in Bangkok follow signs that Asia -- for years seen as a bright spot in a gloomy world economy -- is increasingly feeling the strain from Europe's financial turbulence.

"Acknowledging ...

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