Japan's exports grow

Japan's exports grew for the first time in 15 months in December, boosted by demand in Asia and China in particular, official figures have shown. Exports hit 5.4 tn yen ($60 bn; £37 bn), up 12.1 % on a year ago. Shipments to Asia rose by almost a third. The Japanese finance ministry said China had now overtaken the US as Japan's largest overseas market. China is also on the verge of overtaking Japan as the world's second largest economy. Japanese imports fell by 5.5 % to 4.9 leading to a trade surplus for December of 545.3 tn yen. Asian focus Analysts said Japan would continue to rely on Asia to drive its growth in exports. "Most countries around the world are seeing their economies recover but improvements in advanced economies remain fragile," said Takeshi Minami at the Norinchukin Research Institute. "We can't rely too much on strong growth in those countries, so Japanese exports will continue to focus on shipments to Asia." On Tuesday, Japan's central bank kept its key interest on hold at 0.1 % and said the country' s economy would continue to suffer from deflation, or falling prices, for another three years. Japan's economy, which is driven by exports, came out of recession in the April-June quarter last year, but there have been concerns about the strength of its recovery.

Saab will sell to a dutch company

Sweden's Saab is being sold to Dutch luxury carmaker Spyker, General Motors (GM) has confirmed. GM has been trying to sell Saab since January 2009. Earlier this month, it said it would start to shut down the firm while still looking for a buyer. But GM said wind-down activities would be immediately suspended, " pending the close of the transaction". Spyker sold 43 cars in 2008 , when it posted a loss of $35 m (£21 m). It has yet to make a profit in six years. Spyker has agreed to pay $74 m in cash for Saab, John Smith, GM vice-president for corporate planning and alliances, told reporters. Under the deal, GM would also get $326 worth of preferred shares in Saab. The Swedish government has also agreed to guarantee a 400 million- euro (£349 m; $563 m) loan Saab had requested from the European Investment Bank, which was seen as key to the sale. "Now the deal between Spyker and GM has been finalised, so the government has today taken the decision to give loan guarantees to Saab Automobile," Enterprise Minister Maud Olofsson said. 'Great news' Saab lost 3 bn kronor (£255 m; $412 in 2008 , and has not made a profit since 2001. US group GM rejected an earlier offer from Spyker for Saab in December. Shares in Spyker were earlier suspended on the Amsterdam stock exchange, with the Dutch financial market regulator saying the move was "pending [a] press release" from the company. Its shares were 2.8 % higher before the suspension, after having risen more than 60 on Monday. "Today's announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM," said GM's John Smith. "General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome," he said.

Yahoo sales fall

Internet giant Yahoo has posted a $153 m (£95 m) net profit in the fourth quarter of 2009 , but has seen sales continue to fall. The profit figure compares with a $303 m loss in the same period in 2008 , but revenue fell 4 % to $1.7 bn. Yahoo struggled during the global downturn as advertisers trimmed their budgets. The firm cut more than 2 ,000 jobs to try to reduce costs. Shares in Yahoo rose 1 % in after-hours trading in New York to $16.17 ?. "The fourth quarter marked a strong finish to 2009 , which was a transformative year for Yahoo," said chief executive Carol Bartz. "Our business has positive momentum and we feel good as we head into 2010. " For the whole of 2009 , Yahoo made a £598m profit, up 43 % on the previous year.

Toyota suspend 8 model sales

Toyota has said it will suspend sales of eight of its most popular US models after recalling 2.3 million cars last week over faulty accelerator pedals. The carmaker also said it would temporarily halt production of some models at some US plants at the beginning of February. "This action is necessary until a remedy is finalised," it explained. Last October, Toyota recalled 4.2 million cars in the US because of pedals getting lodged under floor mats. The sales suspension includes the 2007-2010 Camry and Tundra; the 2009-2010 RAV4 Corolla and Matrix; the 2005-2010 Avalon; the 2010 Highlander; and the 2008-2010 Shares in the carmaker fell 2 % on Japan's Nikkei index after the announcement. Suspending sales of eight popular models is a big risk for the world's biggest carmaker, analysts said. "The recall itself won't be a big problem for Toyota's earnings, but suspending production and sales could have a big impact, depending on how long it lasts," said Koji Endo, auto analyst at Advanced Research Japan. Jessica Caldwell at Edmunds.com said: "In this highly competitive market, no automaker, not even Toyota, can afford to stop selling its cars and trucks for long, but perhaps Toyota is banking on the idea that customers will appreciate the priority of their safety in this decision."

Apple will brought a new product in market

All eyes in the technology world are on Apple as it prepares to unveil its latest creation, amid a swirl of speculation it is a tablet computer. At 1800 GMT on Wednesday the company will hold a news conference in San Francisco to launch the new product. Media and tech blogs have been in overdrive, amid rumours the product will be a keyboard- less tablet device. For weeks, a flurry of photos and videos purporting to show the new device have been circulating. "One never knows what Apple might or might not do on any given Wednesday in January," said Mike Gartenberg, vice-president of strategy and analysis at research firm Interpret. Market winner? "One thing we do know for sure is we are going to see some sort of new device or category of device." The safe money is on the product being a tablet or slate-like computer which traditionally bridges the gap between smartphones and laptops. "The question here is does Apple have a different take on this category? It has to be something that has a reason to exist all by itself and not something that lives between a phone and a computer," Mr Gartenberg told BBC News. Until now the tablet market has been regarded as a middling one with revenue of around $950 m (£597 m). But many industry watchers believe Apple will do for this sector what the iPod did for MP3 players. Apple said it sold 21 m iPods last quarter and, while that represented a drop of 8 % on the previous year, the company boasts a 70 % market share. "Our base case assumes the new tablet adds four million shipments, $3.2 bn (£2.1 bn) revenue and 82 cents of earnings per share in 2010 , but we see potential upside to six million units," said Morgan Stanley analyst Katy Huberty. Interpret's Mr Gartenberg agreed. "Apple is not building products for tens of thousands of enthusiasts. They are building products for tens of millions of customers," he said.

Apple’s profit record rise

Apple's holiday quarter was especially sweet this year, but Wall Street's response was muted as investors puzzled through an accounting change and lighter-than-expected iPhone sales. Apple Inc. posted its most profitable quarter yet in the October-through- December period after selling twice as many iPhones and 33 per cent more Macintosh computers as the year before. But the company also changed how it accounts for revenue and profit from the iPhone, making it difficult for investors to see at a glance whether Apple lived up to Wall Street's forecast. Shares of Apple crept up less than 1 per cent in extended trading after ending the regular session Monday ahead $5.32, or 2.7 per cent, at $203.07. Apple's shining report reflected the company's ability to lure shoppers without deep cuts to its premium prices, despite tough economic times. The iPhone's rollout in several major new markets, including China and South Korea, helped Apple double sales of the hot gadget to 8.7 million. Still, Shaw Wu, an analyst for Kaufman Bros., was expecting Apple to sell about 800,000 more of the popular smart phone. He attributed the lower number to possible component shortages.

AirAsia will fly five Indian city

Budget carrier AirAsia said on Tuesday it will launch flights from Malaysia to five major Indian cities in 2010 , with plans to carry two million passengers a year. The new cities are Bangalore, Chennai, Hyderabad, New Delhi and Mumbai. AirAsia already flies from its Kuala Lumpur base to the Indian destinations of Kochi, Kolkata, Trichy and Trivandrum. AirAsia founder Tony Fernandes said the carrier and its Kuala Lumpur hub was being positioned as a gateway between India and the 10- nation Association of Southeast Asian Nations. " AirAsia has well-arrived in the Indian market to change the very definition of low-cost airlines as the India market is booming," he said at a launch function. Transport Minister Ong Tee Keat said the route expansion would help fuel tourism to Malaysia, a Muslim- majority country that is also home to ethnic Indian and Chinese communities. "With the large number of Malaysians of Indian origin, we believe that Indian visitors will find themselves on familiar ground," he said. Fernandes appealed for flexibility from Malaysian authorities, who have tightened visa regulations in an attempt to curb illegal migration, particularly from the southern city of Chennai.

South Africa's tourism

South Africa's top holiday destination Cape Town weathered a post-recession summer with fewer tourists, but is gearing up to bounce back in 2010 at Africa's first football World Cup. The global economic crisis saw international arrivals to the city drop by up to 12 percent last year, while domestic arrivals fell up to eight percent as South Africa braced its first post-apartheid recession. But industry experts say the country fared better than most, with the World Tourism Organisation (WTO) listing Africa as the only continent to buck negative trends in 2009 with a robust five percent growth. "The world recession really hit us very late," said Calvyn Gilfellan, chief executive of the regional tourism body Cape Town Routes Unlimited. "We are fortunate that our industry hasn't been as negatively affected, but there's nothing to be complacent about. We still need to work hard to ensure that we are on to a road of recovery." Tourism is a top five industry in the Western Cape province which boasts some of South Africa's premier attractions: Cape Town, the Cape winelands, the popular Garden Route and the whale-watching hub of Hermanus. Foreign spending in the region topped 20 billion rand (2.7 billion dollars, 1.9 billion euros) for the first time last year, even though a stronger rand has made South Africa more expensive for foreigners. Domestic tourists brought in a further 4.5 billion rand. "Anything that is happening in the industry is of huge concern for the authorities," said Gilfellan. "It is indeed for us, the goose that lays the golden egg." But even the Cape Town summer -- when long sunny days draw crowds to the city's beaches, mountains and cafes -- did not go unscathed. With summer winding down, foreign arrivals are down six percent and locals three percent during the peak season that runs December 12 to January 13. Part of the visitor drop could be because holidaymakers plan to visit later during 2010 , said Kamilla Swart of the Centre for Tourism Research in Africa, told AFP. "It appears as if some visitors have changed their holiday plans to visit in June/July 2010 instead," she told AFP. "What we will have is another 'high' season, as June and July are generally quieter tourism months in Cape Town." Predictions for the World Cup are "excellent", said Nick Seewer of the Orient-Express group which owns Cape Town's luxury Mount Nelson Hotel. The group, which draws 70-80 percent of business from outside South Africa, reported a healthy summer after knocks during the year. This is despite an overall dip of at least 10 percent among top-end bookings in the province. "We hope that, with a successful World Cup and revitalised world economies... both corporate and leisure travel to South and southern Africa will greatly improve," Seewer said. With a new football stadium wedged between the landmark Table Mountain and Nelson Mandela's Robben Island prison, Cape Town is well-positioned to reap World Cup rewards despite 2010 fixtures ending at a semi-final match. "Cape Town is indeed South Africa's premier destination," said tourism analyst Wolfgang Thomas. "This also explains why it has in the past usually been able to perform better during phases of decline." But he also cautioned on anticipated visitor numbers, which have been tipped as high as 483 ,000 tourists, saying they "may be quite unrealistic". The United Nations' WTO predicts a strong 2010 for African tourism with the World Cup an "extra boost" -- something the industry is banking on. "A lot of people are holding back and wanting to do something in the year of 2010 ," said Gilfellan. "They want to say I've been in South Africa during the historic moment -- for the first time when the World Cup was hosted in Africa."

Hong Kong's exports rising

Hong Kong's exports rose for the second consecutive month in December, but total shipments in 2009 still recorded a double-digit tumble from the previous year, the government said Tuesday. Orders from around Asia, including India, Taiwan and Indonesia, helped push the city's overseas shipments up 9.2 percent in December with a value of a 224.8 billion Hong Kong dollars (29 billion US dollars), the government said. The rise follows a 1.3 percent year-on-year uptick in November exports. December imports rose 18.7 percent to 258.3 billion Hong Kong dollars, following a 6.5 percent year-on-year increase in November, according to the Census and Statistics Department.