SHANGHAI (Reuters) – Financial institutions snapping up Chinese government bonds are basically shorting the Chinese economy, China’s central bank-backed Financial News reported on Saturday, citing what it said were the views of industry sources and experts. The report is the latest warning to the country’s bond market after the People’s Bank of China (PBOC) sounded …
SHANGHAI (Reuters) – China’s Vice Minister of Commerce Wang Shouwen met the chief executive officer of Walmart Inc, Kathryn McLay, on Friday, the commerce ministry said in a statement. The two sides exchanged views on China-U.S. economic and trade relations, Walmart’s development in China and other issues, the statement said. China is the biggest source …
China’s vice commerce ministry meets Walmart CEO McLay Read More »
By Phuong Nguyen HANOI (Reuters) – Vietnamese electric vehicle (EV) maker VinFast is delaying the launch of its planned $4 billion factory in North Carolina to 2028 and cutting its delivery forecast for this year by 20,000 units amid uncertainties in the global EV market. VinFast, founded by Vietnam’s richest man Pham Nhat Vuong in …
Vietnam’s VinFast delays US electric car plant amid market slowdown Read More »
By Heekyong Yang SEOUL (Reuters) – South Korean EV battery maker SK On is in talks with automakers to supply prismatic batteries, expanding from its existing pouch-type batteries, a senior executive said, as it scrambles to turn around amid slowing global electric vehicle (EV) demand. SK On, a unit of energy group SK Innovation, which …
South Korea’s SK On in talks to supply prismatic EV batteries as it seeks turnaround Read More »
By David Lawder (Reuters) -The International Monetary Fund said on Friday it reached a staff level agreement with Pakistan for a $7 billion, 37-month loan program aimed at cementing stability and inclusive growth in the crisis-plagued South Asian country. The IMF said the new Extended Fund Facility program is subject to be approved by its …
IMF reaches agreement with Pakistan for $7 billion extended fund facility Read More »
SEOUL (Reuters) – Hyundai Motor and a union representing its South Korean workforce on Saturday sealed a wage deal that will boost annual pay by about 4.65%, the union said, avoiding a strike in the carmaker’s biggest manufacturing base. The union, one of the biggest in the country with more than 43,000 members, said in …
Hyundai Motor’s South Korea union approves wage deal, union says Read More »
By Maria Martinez, Holger Hansen and Christian Kraemer BERLIN (Reuters) -Germany is set to abstain in Monday’s vote by European Union member states on imposing provisional tariffs on China-made electric vehicles, sources told Reuters on Friday, in the first test of support for Brussels’ landmark trade case. The provisional tariffs of up to 37.6% on …
Germany set to abstain in vote on EU tariffs for China EVs, sources say Read More »
By David Lawder WASHINGTON (Reuters) – The International Monetary Fund on Friday said gross capital inflows into emerging markets excluding China last year rose to $110 billion or 0.6% of their economic output, the highest level since 2018. The findings, part of the IMF’s External Sector Report on currencies, capital flows and financial imbalances, show …
IMF says emerging market capital inflows recover to 2018 levels Read More »
By Katya Golubkova and Yuka Obayashi TOKYO (Reuters) – Japanese companies foreseeing a growing surplus in stocks of liquefied natural gas (LNG) as their demand for the fuel wanes in coming years, are scrambling to invest in regional markets to provide potential outlets to sell the gas. As more nuclear plants restart and renewable energy …
Analysis-Japan builds gas markets in Asia to boost LNG trading, energy security Read More »
LONDON (Reuters) -The yen jumped briefly against the dollar on Friday, putting traders on alert for signs of fresh intervention by Japanese authorities, who likely stepped in the previous day to prop up a currency still close to its lowest in 38 years. The dollar fell as much as 1% to a one-month low of …
Yen pops higher, sparking suspicions of Japan intervention Read More »
