By Joe Cash and Ellen Zhang BEIJING (Reuters) -China’s manufacturing activity fell for a second month in June while services activity slipped to a five-month low, an official survey showed on Sunday, keeping alive calls for further stimulus as the economy struggles to get back on its feet. The National Bureau of Statistics (NBS) purchasing …
China’s June factory activity contracts again, services slows Read More »
SEOUL (Reuters) – South Korea’s SK Hynix, the world no.2 memory chip maker, will invest 103 trillion won ($74.6 billion) through 2028 to strengthen its chips business, focusing on AI, its parent SK Group said on Sunday. SK Group also said it plans to secure 80 trillion won by 2026 to invest in artificial intelligence …
South Korea’s SK Hynix to invest $75 billion by 2028 in AI, chips Read More »
BEIJING (Reuters) – China’s non-manufacturing activity expanded at a much slower pace in June, an official survey showed on Sunday, as consumers remained wary of spending amid property downturn and the May holiday boost faded away. The official non-manufacturing purchasing managers’ index (PMI), which includes services and construction, fell to 50.5 from 51.1 in May, …
BEIJING (Reuters) – China has unveiled a list of rare earth regulations aimed at protecting supplies in the name of national security, laying out rules on the mining, smelting and trade in the critical materials used to make products from magnets in electric vehicles to consumer electronics. The regulations, issued by the State Council or …
China issues rare earth regulations to further protect domestic supply Read More »
MANILA (Reuters) – The World Bank said on Saturday its board of executive directors has approved $1.25 billion in loans for the Philippines’ education and public infrastructure sectors. In a statement, the World Bank said it will extend a $500 million loan for a Philippine project aiming to repair disaster-hit schools in provinces and improve …
World Bank approves $1.25 billion loans for the Philippines Read More »
HONG KONG (Reuters) – Six Chinese bank wealth managers have been fined a total of 32.5 million yuan ($4.5 million) due to disclosure, product management irregularities. China Merchant Bank and its wealth management unit, as well as the wealth management units of Ping An Bank, China Construction Bank, Bank of China and Citic Group breached …
Chinese bank wealth managers fined for disclosure, product management irregularities Read More »
JAKARTA (Reuters) – Indonesia will impose safeguard duties of 100% to 200% on imports ranging from footwear to ceramics, reviving a plan to protect domestic industries, the trade minister said. The planned import duties average more than 100%, Trade Minister Zulkifli Hasan told reporters on Friday. “If we are flooded with (imported goods), our micro, …
Indonesia plans import duties on clothing, ceramics, minister says Read More »
HANOI (Reuters) – Vietnam’s economic growth accelerated in the second quarter on robust exports, government data showed on Saturday, but rising inflation remained a challenge for the Southeast Asian country. Gross domestic product is estimated to have expanded to 6.93% in the second quarter from a year earlier, faster than a growth of 5.87% in …
Vietnam Q2 GDP growth accelerates; inflation pressure rises Read More »
By Anton Bridge TOKYO (Reuters) -Citadel will buy Japanese power firm Energy Grid in its first acquisition in Japan and the first major U.S. investment in Japan’s wholesale energy market in recent years, billionaire investor Kenneth Griffin’s hedge fund said in a statement. The privately held Energy Grid provides power price risk management services to …
Citadel to buy power firm Energy Grid in first Japanese acquisition Read More »
(Reuters) -Online fast-fashion group Shein is keeping alive a fallback option to list in Hong Kong despite filing for a London listing, the Financial Times reported on Friday, citing people familiar with the situation. The company confidentially filed papers with Britain’s markets regulator in June, two sources told Reuters on Monday, kicking off the process …
Shein keeps option to list in Hong Kong as backup, FT reports Read More »
