AIA 1st-Half New Business Value Up 28% on Strong Growth in Hong Kong, Thailand
Asian insurance heavyweight AIA Group Ltd. (1299.HK) on Friday beat estimates to report a 28% rise in new business value in the six months ended May 31, thanks to strong growth in major markets like Hong Kong and Thailand, as well as continued expansion in margins.
WSJ UPDATE: Samsung Electronics Posts Best-Ever Quarterly Net Profit in 2Q
Samsung Electronics Co. (SSNHY, 005930.SE) said Friday its second-quarter profit jumped 48% to another company record as it increased smartphone sales and experienced cyclical recoveries in its chip and display component businesses.
DEA seizes more than $36M and arrests 91 in crackdown on sellers of designer drugs
The Drug Enforcement Administration seized more than $36 million in cash and arrested 91 people in a nationwide crackdown against manufacturers, distributors and vendors of synthetic designer drugs.
Wilmar: China Advised Not to Raise Cooking Oil Prices 'Unless Absolutely Necessary'
The Chinese government has advised edible-oil producers in China to avoid raising prices "unless absolutely necessary," stopping short of a repeat of last year's outright price cap on such products, major producer Wilmar International Ltd. (WLMIY) said Friday.
Fitch Warns China on Bank Risks
Fitch Ratings said Friday that China's banking sector faces growing risks from small banks' aggressive issuance of wealth management products to attract and retain depositors.
Mining Boom Seen Fueling Australian Economy
Australia's economy will be fueled by continuing investment in mining and a ramp-up of raw-materials exports in coming years, HSBC Bank Australia Ltd.'s chief economist said Friday, dismissing concern the nation's resources boom may be close to peaking.
Chevron Damages Bill in Ecuador Rises to $19 Billion
QUITO, Ecuador -- Chevron Corp. (CVX) has been ordered to pay more than $19 billion in environmental damages, $1 billion more than originally decided, after an Ecuadorian court adjusted the amount on appeal, a source said Thursday.
Samsung 2Q Global Smartphone Market Share Rises to 34.6% - Strategy Analytics
Samsung Electronics Co. (005930.SE) increased its share of the global smartphone market in the second quarter to widen its lead over Apple Inc. (AAPL), as the South Korean technology giant shipped 50.5 million smartphones, the largest number of units ever shipped by any vendor in a single quarter,
U.S. Should Play 'hardball' On Cnooc Deal: Schumer
Charles Schumer, the U.S. Democratic senator, plans to tell Treasury Secretary Timothy Geithner that Washington should block Chinese energy firm Cnooc Ltd.'s bid to acquire Canada's Nexen Inc., until Beijing provides fair access to U.S. firms investing in the country, according to reports.
Kyobo Life: Won't Bid for Korean Government's 57% Stake in Woori Finance
Kyobo Life Insurance, South Korea's second largest life insurer based on premiums written, said Friday that it won't bid for the government's 57% stake in Woori Finance Holdings (053000.SE) as it doesn't expect the potential KRW4.91 trillion ($4.3 billion) deal to take place.