TOKYO (DPA) ― Japanese carmaker Daihatsu Motor Co. said Friday it had decided to withdraw from Europe from January 2013 due to sluggish sales and a decline in profits. Daihatsu, a subsidiary of Toyota Motor Corp., said it would end the sale of new vehicles in the European market. Worsening profitability was partly responsible as the yen rose against the euro.A stronger yen makes Japanese-made prod

Mini is offering special lease financing program on all models until the end of the month. Those purchasing Mini vehicles before the end of the month will be offered the choice of using a lease program that allows 40 percent of the vehicle’s price to be paid in installments over 36 months, and return the vehicle at the end of the period. Using the program, the Mini Cooper SE can be financed for 27

PARIS (DPA) ― With the launch of its first electric vehicle, the iOn, Peugeot is also offering a collection of three electrically driven bicycles featuring a light aluminum frame and a Panasonic electric engine with a range of between 75 and 95 kilometers. A special comfort feature is a high-quality Selle Royal saddle designed for longer trips and a sturdy luggage rack. In addition the lighting in

Toyota Motor Corp. introduced its cheapest Lexus yet in Japan as the automaker struggles to replicate the luxury brand’s U.S. success in its home market.The Lexus CT200h went on sale today priced from 3.55 million yen ($43,000), Toyota said in a statement, making it less expensive than the 3.95 million yen HS250h hybrid and 3.98 million yen IS250 sedan. The automaker, the world’s largest, plans to

Commercial banks are raising interest rates on their loans following the increase of the benchmark rate last week, heightening the financial burden on households and small firms. The Bank of Korea unexpectedly raised the seven-day repurchase rate by 25 basis points on Thursday, as Korea grapples with higher inflation stemming from strong economic growth and rising oil, grain and other commodity pr

Japanese borrowing costs may rise if the country’s fiscal condition remains “unhealthy,” with bond sales exceeding tax revenue, the country’s new economy and fiscal policy minister said.“If the unhealthy situation continues for a long time, long-term interest rates will inevitably rise and hurt Japan’s global credibility,” said Kaoru Yosano at a news conference late Saturday in Tokyo after being a

South Korea's consumer prices may grow in the 4-percent range in the first quarter, as rising raw material costs and food prices are putting upward pressure on consumer inflation, experts said Sunday.South Korea's central bank, the Bank of Korea (BOK), forecast the country's consumer prices to rise 3.5 percent this year, up from 2.9 percent in 2010. The bank's inflation projection stood at 3.7 per

South Korea's state-run asset management corporation plans to conduct probes on real estate-related project financing operations under the control of local savings banks, a source said Saturday.The Korea Asset Management Corp. (KAMCO) source said 386 project financing projects are to be checked, as concerns have been raised about deteriorating conditions that can cause trouble for the lenders.Afte

South Korea's stock market is expected to continue doing well next week although gains will be more modest as investors may take on a more wait-and-see approach, local analysts said Saturday.The country's benchmark Korea Composite Stock Price Index (KOSPI) gained 18.69 points to close at a record high of 2,108.17 on Friday, a month after the bourse surged past the 2.000-point mark on Dec. 14.The K

Following Lee comments, officials move to rein in petroleum pricesThe presidential office and the antitrust regulatory body are poised to turn up the heat on major oil refiners in a drive to tame inflationary pressures.President Lee Myung-bak said Thursday that the prices of petroleum products need to be “carefully analyzed” to determine whether they are at “reasonable levels.”In addition, the Fai