Bussiness News

HEGANG, China (AP) When gas levels suddenly spiked deep in the Xinxing coal mine, Wang Jiguo grabbed two co-workers and they ran for their lives.

KUALA LUMPUR, Malaysia (AP) Budget carrier AirAsia said Friday its net profit totaled 130 million ringgit ($38.4 million) in the third quarter, buoyed by rising passenger numbers and income from add-on services.

KUALA LUMPUR, Malaysia (AP) Malaysia's economy shrank 1.2 percent in the third quarter, an improvement from the previous two quarters as the financial services and construction sectors gained strength, the government said Friday.

SHANGHAI (AP) China National Petroleum Corp., the country's biggest oil and gas producer, said Friday it has signed agreements with Sudan to expand a refinery and swap oil production assets.

TOKYO (AP) Sony's new online service connecting the whole range of its gadgets to downloadable content like movies and games should help build brand loyalty, a top executive said Friday.

BANGKOK (AP) Asia's stock markets mostly retreated Friday following a glum session on Wall Street as evidence of a weak economic recovery continued to pile up.

SEOUL, South Korea (AP) South Korea's foreign minister ruled out Friday additional negotiations with the United States over a free trade agreement, a day after presidents of the two countries vowed cooperation to push the stalled deal forward.

SINGAPORE (AP) Oil prices hovered below $78 a barrel Friday in Asia as investors eyed a volatile U.S. dollar and mixed economic data.

TAIPEI, Taiwan (AP) Confronted with an ever-growing pile of old newspapers, Taiwanese fashion designer Colin Lin came up with the idea of using them to make shoes and tote bags for her environmentally friendly footwear company.

TOKYO (AP) Japan's government highlighted the danger of deflation for the first time in three years Friday, warning that falling prices and a further worsening of the labor market could drag on the weak recovery.

TOKYO (AP) Japan's central bank has kept its key interest rate unchanged at 0.1 percent. The unanimous decision, which was widely expected, came Friday at the end of the Bank of Japan's two-day policy board meeting. The central bank also upgraded its assessment of the world's second largest economy, citing an increase in exports.

SHANGHAI (AP) China raised electricity rates for businesses and industries Friday, part of a long-term effort to adjust prices to reflect costs and promote energy saving as the country struggles to meet soaring demand.

ASHGABAT, Turkmenistan (AP) Energy-rich Turkmenistan could become a top supplier to fill a Western-backed natural gas pipeline aimed at reducing Europe's dependency on Russian gas, a top executive on the project said Thursday.

SEOUL, South Korea (AP) Showing impatience with Iranian foot-dragging, President Barack Obama said Thursday that the U.S. and its allies are discussing possible new penalties against Iran for defying international attempts to halt its contested nuclear program.

TOKYO (AP) Sony says it will become profitable in its gaming and flat-panel TV businesses by the fiscal year ending March 2011, as the electronics giant moves ahead with cutting costs and boosting earnings.

TOKYO (AP) Sony says it will be profitable in gaming and TV businesses in fiscal 2010.

HONG KONG (AP) Asian stock markets turned in a mixed performance Thursday as signs of weakness in the U.S. economy aggravated worries about the strength of the global recovery.

HONG KONG (AP) Asian stock markets turned in a mixed performance Thursday as signs of weakness in the U.S. economy aggravated worries about the strength of the global recovery.

SINGAPORE (AP) Singapore's economy expanded for a second straight quarter as the manufacturing and service sectors led the city-state out of recession.