TAIPEI (Reuters) – Taiwan’s central bank said on Sunday that it has no timetable for launching a digital currency, warning the process will be “huge and complex”, but it will hold public hearings on the matter next year to spread knowledge. Taiwan’s central bank has been working on a pilot for a government-run digital currency, …
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(Reuters) – South Korean electric vehicle (EV) battery producer SK On has declared itself in crisis as its customers struggle with disappointing EV sales in Europe and the U.S., the Financial Times reported on Sunday. Chief Executive Lee Seok-hee announced a series of cost-cutting and working-practice measures on Monday, describing them as a state of …
Battery maker SK On declares ‘emergency’ as EV sales disappoint, FT reports Read More »
(Reuters) – China’s central bank refrained from gold purchases to its reserves for a second consecutive month in June, official data showed on Sunday. The pause by the People’s Bank of China (PBOC) started in May, when spot gold prices hit a record high. The previous 18 months of consistent buying by the PBOC, along …
China’s central bank refrains from gold purchases for a 2nd month Read More »
BANGKOK (Reuters) – China’s BYD will acquire a 20% stake in its local distributor Rever Automotive in Thailand, its largest market outside of China where it is an electric vehicle market leader, the companies said Saturday. The Shenzhen-based automaker opened its first factory in Southeast Asia in Thailand this week. The $490 million factory will …
China’s BYD acquires 20% stake in Thai dealer Rever Automotive Read More »
HANOI (Reuters) – Vietnam is targeting gross domestic product (GDP) growth of 6.5%-7.0% in the third quarter, Prime Minister Pham Minh Chinh said on Saturday. Chinh said Vietnam will stick to its target of keeping inflation below 4.5% this year, according to a statement posted on the government website. The country, a regional manufacturing hub, …
Vietnam targeting Q3 GDP growth of 6.5%-7.0%, inflation below 4.5%, PM says Read More »
SHENZHEN, China (Reuters) – The China Association of Automobile Manufacturers (CAAM) is “strongly dissatisfied” with anti-subsidy tariffs proposed by the European Union, the industry group said in a statement on Saturday. Manufacturers had cooperated with the European Commission’s investigation into Chinese subsidies, but the inquiry had ignored the facts and preselected results, CAAM said in …
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AIX-EN-PROVENCE, France (Reuters) – China’s anti-dumping probe into Europe’s cognac industry is a tit-for-tat reaction to European Union tariffs on Chinese electric vehicles, the finance chief at Hennessy cognac owner LVMH said on Saturday. China announced plans on Friday for a hearing on European brandy imports, ramping up tension on the same day the European …
China cognac probe is a reaction to EU car tariffs, says Hennessy owner LVMH Read More »
SHANGHAI (Reuters) – China’s securities regulator vowed on Friday to clamp down harder on financial fraud, saying it is pushing for harsher punishment against lawbreakers as it seeks to revive confidence in the country’s struggling stock markets. The China Securities Regulatory Commission (CSRC) and five other government agencies jointly published a set of guidelines against …
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HANOI (Reuters) – Vietnam has missed out on multi-billion dollar investments by multinationals including Intel and LG Chem because it lacks sufficient investment incentives, the country’s investment ministry said in a document reviewed by Reuters. U.S. chipmaker Intel had proposed to invest $3.3 billion in a project in Vietnam and asked the country for “cash …
ROME (Reuters) – Taiwan Cement Corp (TCC) intends to strengthen the presence of Italian energy storage company NHOA in Italy after taking it private, the group said on Friday, responding to concerns raised by the Rome government. TCC fell under Italian government scrutiny after it announced a buyout offer for Paris-listed NHOA, in which it …
TCC reassures Italy over its delisting of energy storage firm NHOA Read More »
