Asia

The bank has announced that it will increase its purchase of government bonds by 50 trillion yen ($520 billion), a figure that is equivalent to approximately ten percent of Japan’s annual gross domestic product.

Japan's economy has been hurt by a variety of factors, not least decades of deflation or falling prices. Falling prices discourage people from spending and companies from investing, and that has trapped Japan in a cycle of what analysts have described as sluggish growth and recession.

The pact will allow both countries respective central banks to swap local currencies worth up to 190bn yuan or 60bn reais. Officials said this will ensure smooth bilateral trade, regardless of global financial conditions.

The deal, signed on the side-lines of the fifth Brics summit in Durban, South Africa, is all the more significant given that China remains Brazil’s largest trading partner.

President and Chief Executive Officer, Vivek Kamra, discusses how the success of NatSteel’s offsite prefabrication of steel reinforcement products and services have helped refocus the business into becoming a total solutions provider.

“There are very few places,” states President and Chief Executive Officer, Vivek Kamra, “that have provided a good economic environment to operate in over the last year or so. However, despite the challenges that exist, developing economies within South East Asia have remained reasonably robust.”

Rare earth elements (REEs) are not really that rare in the earth’s crust, but unlike copper, gold or zinc for example they tend not to occur in concentrations sufficient to justify mining. But this group of chemicals is increasingly in demand for use in specialist glass technologies, solar cells, catalytic converters and many other new applications including military ones.

Mines and Money Hong Kong is where mining companies from around the world come to raise capital in Asia and meet with investors from Hong Kong and mainland China. The event has become a must go for everyone engaged in the industry at a time when every dollar has to be fought for.

With the Chinese New Year holidays historically skewing the data show in January and February, March’s numbers are seen as a true indicator for the sector.

The preliminary reading of HSBC's Purchasing Managers Index rose to 51.7, from 50.4 in February. The PMI is a key indicator of the activity in the sector and a reading above 50 shows expansion.

The Australian dollar is so strong that it is beginning to be looked at internationally as a reserve currency.

Whatever the reason it can’t be simply because it has been talked up by Julia Gillard. In February the Prime Minister predicted: “Our dollar is likely to remain relatively high for years to come.”

The order, worth 18.4 billion euros, beats last year’s record order for 230 Boeing planes, also from Lion Air.

Lion, now a major airline in Indonesia, started up 13 years ago. The two orders, once fulfilled, would put the airline in the world's top ten by number of aircraft. Lion currently has just 92 Boeing planes, which fly mainly within Indonesia but also to Saudi Arabia.

At the same time as the company, the world’s largest mobile operator, increased its subscriber base to more than 710 million, its net profits increased to $20.8 billion on revenues up 6.1 percent.

China Mobile said revenue growth last year was mostly driven by its data business. The company said the number of its subscribers rose by 9.3 percent to 710 million. Some 87.93 million customers joined its 3G network.

Methane hydrates, or clathrates, are a type of frozen "cage" of molecules of methane and water, and if Japan’s claims are accurate their achievement would go down as a world first.

Pilot experiments in recent years, using methane hydrates found under land ice, have shown that methane can be extracted from the deposits. Japan says its engineers used a depressurisation method that turns methane hydrate into methane gas. Production tests are expected to continue for about two weeks.