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Protests build in Myanmar over Chinese-backed mine

  Yangon / AFP Hundreds of Myanmar villagers rallied on Saturday against a controversial Chinese-backed copper mine, activists said, reigniting a contentious issue that could pose an early challenge to Aung San Suu Kyi’s new government. The Letpadaung mine in the central town of Monywa has for years been dogged by complaints of land-grabbing, environmental damage and brutal police crackdowns on ...

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China foreign reserves increase in April

  Beijing / Bloomberg China’s foreign-exchange reserves increased for the second month in a row as market sentiment toward the yuan improved and a stronger yen and euro boosted the headline number. The world’s largest currency hoard rose by $7.089 billion to $3.22 trillion in April, the People’s Bank of China said in a statement on Saturday. That compares with ...

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Sharp tumbles after net loss hits US$2.8bn

  Tokyo / Bloomberg Sharp Corp. fell the most in almost two months on concerns that the Japanese company’s loss for the last fiscal year will be far wider than forecast. The company may report a net loss of 300 billion yen ($2.8 billion), according to a person familiar with the matter, almost double the 161 billion yen that analysts ...

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