Sumitomo Life Insurance Co., Japan’s fourth-biggest life insurer, agreed to buy a stake in PT Bank Negara Indonesia’s life insurance unit for about 36.2 billion yen ($354 million) as it expands abroad.
Record onion prices and the soaring cost of rice and coriander are frustrating Reserve Bank of India Governor Raghuram Rajan’s battle to curb inflation while supporting growth in Asia’s third-largest economy.
The Philippines, ravaged by the deadly Super Typhoon Haiyan and a 7.2-magnitude earthquake in the past month, needs to race to rebuild beach resorts and infrastructure to bring back much-needed tourism spending.
After almost two decades of waiting for Vietnamese consumers to become rich enough to afford cars, manufacturers including Toyota Motor Corp. and Ford Motor Co. will have to contend with cheaper imports.
China pledged to avoid escalating tensions while it works with Southeast Asian nations on a code of conduct for the South China Sea, as it again warned major powers such as the U.S. to stay out of its disputes.
Asia-Pacific leaders pledged to work together to revive growth while keeping to a year-end deadline on a key trade deal, as China touted its increased influence in the region in the absence of U.S. President Barack Obama.