09292016Thu
Last update: Thu, 29 Sep 2016 03am

South Asia

World - South Asia

China must rely on reforms to keep fast economic growth: Xi HANGZHOU: China must rely on reforms to help maintain a medium-to-high rate of economic growth over the long term, Chinese President Xi Jinping said on Saturday, as the country undergoes structural changes, including reductions in excess factory capacity.Speaking to a business forum on the eve of a summit of leaders of the world's 20 biggest economies in Hangzhou, Xi said the G20 should combine monetary and fiscal policies with structural reforms to promote growth, and warned that isolationism could not resolve problems faced by the global economy."We must rely on reforms to maintain a medium- to high-speed economic growth rate ... hanging back will lose opportunities," Xi said."China has made clear the direction of its reforms and it will not waver; reform steps will go forward, not slow down."Xi said plans to cut excess capacity in the steel and coal sectors were based on consideration of China's long-term growth and ...

World - South Asia

Myanmar peace summit ends with long road ahead NAYPYIDAW: Myanmar's Aung San Suu Kyi concluded a landmark peace summit with ethnic rebels on Saturday, calling it the first step in what promises to be a tough road to peace in a country riven by civil wars since its birth.The conference in the capital Naypyidaw is Suu Kyi's first big drive to end ethnic minority insurgencies that have rumbled across Myanmar's frontier states for nearly seven decades, claiming thousands of lives and trapping the ...

World - South Asia

China's Xi says committed to path of peaceful development HANGZHOU: Chinese President Xi Jinping said on Saturday that China is committed to the path of peaceful development.Xi was speaking to a business forum on the eve of a summit of leaders of the world's 20 biggest economies in the eastern Chinese city of Hangzhou.Copyright Reuters, 2016 ...

World - South Asia

Philippines' Duterte cancels first foreign trip: govt MANILA: Philippine President Rodrigo Duterte cancelled Saturday his first foreign trip to Brunei following a deadly blast in his home town, his spokesman said.An improvised explosive device tore through a night market in the southern city of Davao on Friday, killing at least 14 people and leaving another 67 injured. Duterte, who was in Davao at the time of the bombing, visited the blast site and has been monitoring the situation there with his cabinet ...

World - South Asia

Obama arrives in China for final visit as president HANGZHOU: US President Barack Obama arrived in China on Saturday for his final visit as president, landing in the eastern city of Hangzhou where he will attend the G20 summit.Air Force One landed at 0618 GMT, kicking off a trip designed to cement the "pivot" to Asia undertaken during his administration. After the G20 meeting Obama will travel to Laos which is hosting the Association of Southeast Asian Nations (ASEAN) summit.Copyright AFP (Agence France-Presse), 2016 ...

World - South Asia

China to probe Comcast, DreamWorks merger BEIJING: China will launch an anti-trust probe into the $3.8 billion merger of US media giants Comcast and DreamWorks Animation, the country's commerce ministry said Friday.In April, Comcast -- the biggest cable television operator in the US -- bid for the creators of the Kung-fu Panda series, a smash hit in China.A Chinese company lodged a complaint about the deal, commerce ministry spokesman Shen Danyang told a regular briefing Friday, "saying it would have an ...

World - South Asia

Kerry meets Modi as monsoon chaos challenges India's ‘smart’ future NEW DELHI: US Secretary of State John Kerry experienced some of the challenges that lie in the way of India's economic rise, as monsoon floods in New Delhi became a talking point at his meeting with Prime Minister Narendra Modi. "It looks like the rains this time have warmly welcomed you," Modi said as he greeted Kerry and the US delegation on Wednesday for talks. Kerry's motorcade was caught in two hours of traffic chaos ...