Dec 19 (Reuters) – The Chinese unit of Netherlands-based Nexperia has locked in supplies of silicon wafers from local firms to cover its entire 2026 production for one type of power chip, a document showed, after the Dutch firm stopped supplying the raw material in a corporate dispute. The development will allow the Chinese unit, …
By Leika Kihara and Makiko Yamazaki TOKYO, Dec 19 (Reuters) – The Bank of Japan raised interest rates on Friday to levels unseen in 30 years, taking another landmark step in ending decades of huge monetary support and near-zero borrowing costs. The central bank also signalled its readiness to continue raising rates by offering a …
Bank of Japan raises rates to 30-year high, signals more hikes Read More »
Dec 19 (Reuters) – PDD Holdings on Friday appointed co-chief executive officer Jiazhen Zhao as co-chairman of the Temu owner’s board, joining the company’s other chief executive Lei Chen. U.S.-listed shares of the Chinese e-commerce company were up over 6% in premarket trading. A founding member of the company and a key figure behind the …
Temu-owner PDD Holdings appoints co-CEO Zhao as co-chairman of board Read More »
BEIJING, Dec 19 (Reuters) – Chinese Commerce Minister Wang Wentao met with U.S. computer processor manufacturer Advanced Micro Devices’ CEO Lisa Su in Beijing on Thursday, according to a statement released by Wang’s ministry on Friday. “The two sides exchanged views on the company’s business development in China and strengthening cooperation with China,” the ministry …
China’s commerce minister meets with AMD CEO in Beijing Read More »
By Wen-Yee Lee TAIPEI, Dec 19 (Reuters) – Foxtron Vehicle Technologies, a joint venture between Taiwan’s Foxconn and Yulon Motor, said on Friday it would acquire Yulon Motor’s Luxgen passenger-car brand for T$787.6 million ($24.95 million). The deal, which has been approved by the boards of both companies, will see Foxtron acquire 100% of Luxgen, including its …
Foxtron to acquire Yulon Motor’s Luxgen for $25 million Read More »
TOKYO, Dec 19 (Reuters) – Japanese electric motor maker Nidec said founder and chairman Shigenobu Nagamori has voluntarily left the board as of Friday to assume the title of chairman emeritus. CEO and President Mitsuya Kishida would succeed Nagamori, 81, as chairman of the board, it said in a statement. Nidec has been under pressure …
Nidec says founder and chairman Nagamori resigns from board Read More »
By Gopika Gopakumar and Anton Bridge MUMBAI/TOKYO, Dec 19 (Reuters) – Japan’s MUFG will acquire a 20% stake in Indian non-bank lender Shriram Finance Ltd (SFL) for $4.4 billion, the companies said on Friday, the largest cross-border investment in India’s financial sector. The deal marks MUFG’s biggest commitment in India, surpassing its $1.7 billion investments …
Japan’s MUFG to buy 20% stake in India’s Shriram Finance for $4.4 billion Read More »
By David Shepardson WASHINGTON, Dec 18 (Reuters) – The Justice Department said on Thursday it had reached a settlement with the U.S. arm of Chinese auto parts supplier Wanxiang over import tariffs owed on wheel hub assemblies and other parts imported from China over a five-year period. The U.S. government said the settlement ends nearly …
MADRID, Dec 19 (Reuters) – Japan has accepted importing pork from within the containment zone near Spain’s Barcelona that has been processed and refrigerated before the outbreak of African swine fever in the area, the head of Catalonia’s regional agriculture department told reporters on Friday. (Reporting by David Latona; Editing by Andrei Khalip)
BEIJING, Dec 19 (Reuters) – China has filed a case against India’s tariffs on information and communications technology products and Indian photovoltaic subsidies with the World Trade Organisation, the Chinese commerce ministry said in a statement released on Friday. The Indian tariffs and subsidies “give India’s domestic industries an unfair competitive advantage, harm Chinese interests” …
China files WTO case against Indian tariffs, subsidies Read More »
