Japanese stocks rose, with the Nikkei 225 (NKY) Stock Average rising the most in two weeks, after a North Korean rocket launch failed and Fast Retailing Co. forecast record profit. Shares pared gains as slower growth in China tempered optimism from a surge in new lending.
Fanuc Corp., which provides robotics for mainland factories, pared gains to 2.8 percent after the China gross domestic product report. Canon Inc., a camera maker that gets 27 percent of its sales in the Americas, advanced 1.3 percent after the U.S. Federal Reserve signaled interest rates will remain low. Fast Retailing Co. (9983), Asia’s biggest clothier, jumped 8.6 percent.
“It’s better to have it fail than succeed,” said Masahiko Ejiri, a senior fund manager in Tokyo at Mizuho Asset Management Co., which oversees $39 billion, speaking of North Korea’s unsuccessful rocket launch. “Even if they do build a nuclear weapon, it doesn’t matter if they can’t make it fly.”
BisB registers 105pc rise in net income
Manama: BisB has posted an increase of 105 per cent in net income for the first six months of the year at BD8.2 million ($21.75m), compared with BD4m for the same period last year.
BCFC net profit surges 18pc to $22.5 million
Manama: Bahrain Commercial Facilities Company (BCFC) has posted an 18 per cent rise in consolidated net profit at BD8.5 million ($22.5m) for the first half of the year, compared with BD7.2m for the s
Batelco-VKL Holding in accord
Manama: Batelco has announced a partnership with VKL Holding Group to provide end-to-end fibre infrastructure for Juffair Mall and Juffair Hotel, due to open in September.
The agreement wa
KHCB gains soar 177pc
Manama: Khaleeji Commercial Bank (KHCB), a Bahrain-based Islamic bank, has reported an increase of 177 per cent in net profit for the first half at BD4.4 million ($11.67m), compared with BD1.6m for