North Korea’s latest missile launch indicates the reclusive regime is trying to drive a wedge between the United States and South Korea, a former U.S. ambassador to that country said Wednesday. Christopher Hill, who was ambassador to the Republic of Korea from 2004 to 2005, told CNBC’s “Squawk Box” that the North Korean regime believes […]

China Caixin services purchasing managers’ index (PMI) on Wednesday showed growth slowed in June, as new order volumes weakened, but it continued to show rising demand. The June Business Activity Index came in at 51.6, down from May’s four-month high of 52.8, with the release from Caixin and PMI by IHS Markit saying it pointed […]

Growth in shadow banking in China is slowing due to coordinated government action to contain systemic financial risks, a development that will benefit banks, although it will also bring adjustment risks, Moody’s Investors Service said in a report Tuesday. The ratings agency’s analysis showed the effectiveness of coordinated measures by authorities by the central bank, […]

Russian Deputy Foreign Minister Sergei Ryabkov on Tuesday called North Korea’s latest test launch of a ballistic missile a breach of a U.N. Security Council resolution, the RIA news agency reported. It also cited Ryabkov as saying that tensions with Pyongyang risked leading to catastrophic developments and that the missile launch showed that the only […]

The Philippine Supreme Court on Tuesday upheld as constitutional President Rodrigo Duterte’s imposition of 60 days of military rule on a southern island, a ruling that would reinforce unity in the fight against militancy, his spokesman said. Duterte placed the southern island of Mindanao under military rule on May 23, hours after hundreds of pro-Islamic […]

Improving operating conditions and a more positive credit cycle led Moody’s Investors Service to upgrade its outlook for Asia-Pacific (APAC) banks to “stable” from “negative” on Tuesday. The ratings agency added that 77 percent of bank outlooks in the region are now “stable”, an increase from 64 percent at the end of last year. Banks […]

Malaysia’s Lotte Chemical Titan Holding said on Tuesday its initial public offering (IPO) was priced at 6.50 ringgit ($1.51) per share, the bottom of an indicative price range. At 6.50 ringgit apiece, the IPO is set to raise $878 million, still Malaysia’s biggest stock flotation since 2012. The integrated petrochemical producer, part of South Korean […]

This article is part of a “Reporter’s Notebook” series, wherein CNBC journalists submit tales and observations from the field. NOIDA, India — The Intex brand doesn’t have much name recognition beyond India’s borders. In fact, the Indian smartphone maker has even struggled to compete in its home market — pushed aside by global players like […]

Australia’s fourth largest bank ANZ may appear to be downsizing operations in Asia with the recent asset sales, but its chief executive said the lender was merely “tweaking our strategy.” ANZ CEO Shayne Elliott told CNBC’s “Street Signs” on Tuesday the “tweaks” to focus on its corporate clients in Asia came after taking into consideration […]

Chinese firm LeEco’s downward spiral continues after unpaid debts lead a Shanghai court to freeze 1.2 billion yuan ($180 million) in assets owned by its subsidiaries, chairman and CEO Jia Yueting and his wife, according to various local media reports citing court documents. The assets were originally pledged as collateral in 2015 for a 2.4 […]