By Rocky Swift TOKYO (Reuters) -The Japanese operator of fashion giant Uniqlo on Thursday raised its forecast for what would be its third consecutive year of record profits, buoyed by strong sales at home and some overseas markets. The domestic market was a bright spot for Fast Retailing, aided by a surge in duty-free sales …
Uniqlo owner lifts forecast again as weak yen powers sales from tourists Read More »
(Reuters) – Hong Kong’s CK Infrastructure, part of conglomerate CK Hutchison, said on Thursday it is exploring a secondary listing on an overseas stock exchange such as London. This overseas listing is being considered without the prospect of raising any funds, CK Infrastructure said in a statement. The announcement comes as the firm, owned by …
Hong Kong’s CK Infrastructure mulls overseas secondary listing Read More »
BANGKOK (Reuters) – Major Thai banks defended themselves on Thursday against criticism that they facilitated weapons purchases by the Myanmar junta, saying they lacked the capacity to investigate all transactions that may be used for such purchases. Representatives of the lenders told a parliamentary committee, however, that they strictly followed existing regulations. A U.N. expert’s …
Thai banks admit lack of capacity to investigate Myanmar weapon payments Read More »
SEOUL (Reuters) -South Korea has appealed against a ruling by an international arbitration tribunal ordering it to pay $32 million to Mason Capital over a dispute stemming from a 2015 merger of two Samsung affiliates, its justice ministry said on Thursday. The appeal is based on the legal judgment that the South Korean government was …
South Korea appeals tribunal ruling ordering $32 million payment to Mason Capital Read More »
LONDON (Reuters) – Global oil demand growth will slow to just under a million barrels per day (bpd) this year and next, the International Energy Agency (IEA) said, as Chinese consumption contracted in the second quarter amid economic woes. Global demand in the second quarter rose by 710,000 bpd year on year in its lowest …
IEA sees oil demand growth slowing as China’s share ebbs Read More »
By John Biju (Reuters) – Short positions on most Asian currencies eased, as rising expectations of at least two rate cuts by the U.S. Federal Reserve this year and an easing dollar boosted risk sentiment, a Reuters poll found on Thursday. Bearish bets on the Singapore dollar and the Thai baht were at the lowest …
Asian FX bears ease as U.S. rate cut bets solidify: Reuters poll Read More »
(Reuters) – Foreign investors made hefty investments in Japanese stocks in the week ended July 5, driven by a market rally and optimism over the outlook for solid corporate earnings in the second half of the year. According to exchange data, overseas investors bought Japanese stocks worth a net 916.05 billion yen ($5.67 billion) last …
Japanese stocks log biggest weekly foreign inflow in nearly six months Read More »
JAKARTA (Reuters) -Indonesian President-elect Prabowo Subianto will allow the nation’s debt-to-GDP ratio to rise to 50%, provided his administration can boost tax revenue, the Financial Times reported citing one of his closest advisers. Prabowo’s brother and adviser Hashim Djojohadikusumo told the Financial Times in a London interview that Indonesia could retain its investment-grade credit rating …
Indonesia’s Prabowo to allow debt-to-GDP ratio to reach 50%, FT reports Read More »
By Sinéad Carew and Lawrence White NEW YORK/LONDON (Reuters) -A global equities gauge rose to record levels on Wednesday while U.S. Treasury yields edged down with comments from Federal Reserve Chair Jerome Powell fuelling hopes for interest rate cuts as investors awaited key U.S. inflation data. Powell told lawmakers in Congress that he was not …
Stocks rise with Treasury yields on pause, Powell boosts rate cut hopes Read More »
By David Lawder WASHINGTON (Reuters) – The U.S. may need to take further and “more creative” actions beyond tariffs to protect U.S. industries and workers against China’s growing excess industrial capacity, the U.S. Treasury’s top economic diplomat said on Wednesday. Jay Shambaugh, Treasury Undersecretary for International Affairs, told a Council on Foreign Relations event that …
US needs stronger defenses against China’s overcapacity, Treasury official says Read More »
