SEOUL: North Korea has banned the use of China’s yuan and other foreign currency in its markets, saying this was part of the last instructions of late leader Kim Jong-Il, according to a Seoul-based aid group. Channel NewsAsia Business News
SEOUL: South Korea’s industrial output grew at a much slower rate in December on an annualised basis amid global economic uncertainty, official figures showed Tuesday. Channel NewsAsia Business News
BRUSSELS: European leaders faced a damaging split on Monday as a German plan to strip Greece of budget sovereignty overshadowed EU plans to focus on a deal on deficits and talk about jobs. Channel NewsAsia Business News
HONG KONG – Asia’s first full day of trading following the Lunar New Year holiday saw markets mostly slip on Monday after US growth data came in below expectations and profit-takers cashed in recent gains. Channel NewsAsia Business News
PARIS: President Nicolas Sarkozy went on primetime TV on Sunday to unveil plans for new taxes he hopes will fix France’s ailing economy and boost his credibility ahead of polls he is tipped to lose to a Socialist. Channel NewsAsia Business News
FRANKFURT: The proposed merger of Deutsche Boerse and NYSE Euronext — which now looks almost certain to fail — is not vital for the German company’s survival, say analysts and industry experts. Channel NewsAsia Business News
DAVOS, Switzerland: Emerging giants China and India must invest in pension and healthcare systems now for their populations if they want to avoid falling into the West’s debt trap, experts said on Saturday. Channel NewsAsia Business News
WASHINGTON: Apple chief executive Tim Cook has responded to media reports alleging harsh working conditions in China for manufacturing employees of the popular gadget-maker. Channel NewsAsia Business News
NEW YORK: The euro gained ground against the dollar on Friday as US economic growth numbers disappointed and hopes remained alive that a Greek debt deal with private creditors is looming. Channel NewsAsia Business News
LONDON: James Murdoch, at the centre of the phone hacking scandal in his family’s British newspaper business, has resigned from the board of GlaxoSmithKline, the pharmaceuticals giant said on Friday. Channel NewsAsia Business News