(Reuters) -China’s net gold imports via Hong Kong slumped 38% in April from the previous month, Hong Kong Census and Statistics Department data showed on Monday. The drop comes as elevated prices and economic challenges prompted a reduction in import quotas by the central bank, which is focused on stabilizing the yuan. Net imports into …
China’s April net gold imports via Hong Kong fall 38% m/m Read More »
By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s government upgraded its assessment of factory output for the first time in a year, saying in its monthly economic report that it showed signs of picking up and signalling production may have bottomed out. The government also upgraded its assessment of imports and public works while leaving its …
Japan upgrades factory output view in monthly report Read More »
By Jeslyn Lerh SINGAPORE (Reuters) – Container shipper X-Press Feeders has conducted its first bio-methanol refuelling operation at the port of Singapore on Monday, a company executive said, after receiving in mid-May its first out of 14 dual-fuelled vessels ordered. The company aims to use more methanol to fuel its fleet to meet its targets …
X-Press Feeders completes its first bio-methanol bunkering at Singapore Read More »
By Casey Hall SHANGHAI (Reuters) – AliExpress, an e-commerce site owned by Chinese giant Alibaba, has signed former England soccer captain David Beckham as a brand ambassador as it plays catch-up with rival PDD Holdings’ Temu in a battle to sell cheap made-in-China goods to the world. A low-key cross-border player until recently, Alibaba is now …
Alibaba’s AliExpress recruits Beckham to ‘score more’ global sales Read More »
BEIJING (Reuters) -China has set up its third planned state-backed investment fund to boost its semiconductor industry, with a registered capital of 344 billion yuan ($47.5 billion), according to a filing with a government-run companies registry. The hundreds of billions of yuan invested in the sector puts into perspective President Xi Jinping’s drive to achieve …
China sets up third fund with $47.5 billion to boost semiconductor sector Read More »
HONG KONG (Reuters) – Shares of China Evergrande New Energy Vehicle Group more than doubled on Monday as trade resumed after the company said liquidators had agreed on behalf of key shareholders to sell a stake in the electric vehicle (EV) maker. Shares of embattled developer China Evergrande’s EV unit soared as much as 113% …
Shares of China Evergrande’s EV unit soar after liquidators’ stake sale deal Read More »
By Xie Yu HONG KONG (Reuters) -A Hong Kong court on Monday adjourned a hearing on a petition seeking the liquidation of Kaisa Group until June 24, giving the embattled Chinese developer some respite as it works on its debt restructuring plan. The Shenzhen-based developer has been working to restructure its offshore debt for two …
Chinese property developer Kaisa’s liquidation hearing adjourned Read More »
TOKYO (Reuters) -The Bank of Japan (BOJ) will proceed cautiously with inflation-targeting frameworks, Governor Kazuo Ueda said on Monday, noting that some challenges are “uniquely difficult” for Japan after years of ultra-easy monetary policy. In an opening speech to a BOJ-hosted conference in Tokyo on central banking, Ueda said Japan has “made progress in moving …
Ueda says BOJ will proceed cautiously with inflation targeting frameworks Read More »
By Casey Hall and Sophie Yu SHANGHAI (Reuters) – As Starbucks faces stiff competition for its brew in China from fast-growing, low-cost rivals who have chipped into its market share, the coffee chain is increasingly being dragged into a price war it says it wants to avoid. The stakes are high for Starbucks, which has …
Analysis-In China, Starbucks tries to avoid price war but gets dragged into discounting Read More »
BEIJING (Reuters) – Chinese Premier Li Qiang told Samsung Chairman Jay Y. Lee on Sunday that China welcomed further investment by the Korean conglomerate, state news agency Xinhua reported, as foreign businesses in the Chinese market struggle to navigate geopolitical uncertainties. The meeting in Seoul between China’s second highest-ranking official and the Korean executive took …
Samsung encouraged to invest more in China, Premier Li Qiang says Read More »
