ZURICH (Reuters) -Sales at Cartier-owner Richemont were almost flat in the three months through June, the luxury group said on Tuesday, with a slump in Chinese demand pushing the overall result slightly below expectations. Richemont shares were dragged down on Monday by broader woes in the sector, and the earnings figures were more robust than …
Weak China demand hurts sales at luxury goods firm Richemont Read More »
By Kane Wu HONG KONG (Reuters) – Goldman Sachs aims to raise $2 billion in its first Asia Pacific-focused private equity fund, two people with knowledge of the bank’s fundraising plan said, as it looks to deepen exposure to some of the world’s fastest-growing economies. The fund-raising effort comes as private equity firms in Asia …
By Tom Wilson LONDON (Reuters) – A major Cambodian payments firm received crypto worth over $150,000 from a digital wallet used by North Korean hacking outfit Lazarus, blockchain data shows, a glimpse of how the criminal collective has laundered funds in Southeast Asia. Huione Pay, which is based in Phnom Penh and offers currency exchange, …
Exclusive-North Korean hackers sent stolen crypto to wallet used by Asian payment firm Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -The dollar fell slightly on Monday after comments from Federal Reserve Chair Jerome Powell, while cryptocurrencies rose on bets that an assassination attempt on former President Donald Trump lifted his reelection chances. Trump has presented himself as a staunch supporter for cryptocurrencies, although he has not offered specifics on …
Dollar lower after Powell, crypto climbs as investors eye Trump win Read More »
BERLIN (Reuters) – Germany’s economy ministry said it had not made a decision during Monday’s discussions in the European Commission over whether to impose tariffs on China-made electric vehicles, effectively confirming its abstention from Monday’s vote. “Germany has contributed to the discussion during the consultation without yet making its decision, because from the federal government’s …
German economy ministry abstained from vote on EU tariffs on China-made EVs Read More »
By Kevin Yao and Joe Cash BEIJING (Reuters) -China’s economy grew much slower than expected in the second quarter as a protracted property downturn and job insecurity knocked the wind out of a fragile recovery, keeping alive expectations Beijing will need to unleash even more stimulus. The world’s second-largest economy grew 4.7% in April-June, official …
China’s economy falters, raises pressure for more stimulus Read More »
By Ariba Shahid KARACHI (Reuters) -Pakistan and the International Monetary Fund reached an agreement for a $7 billion, 37-month loan program with tough measures such as raising tax on farm income, sending the benchmark share index to a record high on Monday. The staff-level agreement caps negotiations that started in May after Islamabad completed a …
Pakistan clinches IMF bailout deal, to raise tax on farm income Read More »
BEIJING (Reuters) – China has requested the World Trade Organization set up an expert panel to help settle a dispute over electric vehicles subsidies under the U.S. Inflation Reduction Act, the country’s commerce ministry said on Monday. The world’s No.2 economy opened the WTO dispute in late March after the Biden administration passed the IRA, …
China asks WTO to set up panel for US electric vehicle subsidies dispute Read More »
By Dhwani Pandya MUMBAI (Reuters) – Singapore state investor Temasek plans to invest up to $10 billion in India over three years in sectors such as financial services and healthcare, a top executive said on Monday, favouring the South Asian nation as it turns cautious on China. India’s economy is growing sharply and its stock …
Temasek aims to invest up to $10 billion in India as China weighs Read More »
By Florence Tan SINGAPORE (Reuters) – Asia’s crude oil imports from Canada’s newly expanded Trans Mountain pipeline will rise in September as major refiners in Japan and South Korea and a refinery in Brunei have bought their first cargoes alongside China, multiple trade sources said. The purchases come after exports commenced from the expanded TMX …
Japan, S. Korea refiners join China in buying Canadian TMX oil Read More »
