Asian stocks fell, with the regional benchmark index capping its biggest weekly loss this year, after the Federal Reserve damped expectations for more monetary easing and on renewed concern Europe’s debt crisis will weigh on economic growth, damping the outlook for Asian exporters.
Honda Motor Co. (7267), a carmaker that gets 83 percent of its revenue abroad, dropped 4.3 percent in Tokyo. Hutchison Whampoa Ltd. (13) and other companies that do business in Europe slid after demand fell at a Spanish government bond auction. Fast Retailing Co. (9983), Asia’s top clothier, plunged 6.8 percent in Tokyo after sales at its Uniqlo stores disappointed investors.
Gulf states refine approach
Arabian Gulf states are expanding their refineries to export more value-added products, to develop a downstream industry and diversify income away from oil and gas, and to meet rising local demand fo
Australian minister to push GCC trade agreement
Australia’s Minister for Trade, Andrew Robb, is expected to push the UAE, Saudi Arabia and Kuwait on finalising a free-trade agreement (FTA) with the Gulf Cooperation Council (GCC) on a visit to the