CAIRO/KARACHI (Reuters) – The United Arab Emirates (UAE) on Thursday committed $10 billion to invest in promising economic sectors in Pakistan, Islamabad said. Pakistan has been pushing for foreign investment in a bid to shore up its $350 billion economy, which has struggled with high inflation and low growth as it navigates a tough reforms …
Pakistan PM office says UAE has committed $10 billion in investments Read More »
By Toby Sterling AMSTERDAM (Reuters) -Chinese electric carmaker NIO plans to continue its European expansion despite uncertainty over whether the European Union will impose tariffs on Chinese EVs, the company’s founder William Li said on Thursday. “Electric vehicles are very important for positive development of the environment, they should never be used as a political …
Chinese carmaker NIO opens Amsterdam showroom despite EU tariff threat Read More »
HONG KONG (Reuters) – Cash-strapped major property developer China Vanke said on Thursday it had received a 20 billion yuan ($2.76 billion) syndicated loan facility and it would continue to push forward other financing to boost its liquidity. The facility came after regulators in March asked financial firms and creditors to step up financing support …
China Vanke granted $2.8 billion onshore syndicated loan facility Read More »
(Reuters) -A Hong Kong regulator on Wednesday served an enforcement notice to Worldcoin Foundation directing it to cease all operations of the cryptocurrency project in the country, citing risk to privacy and personal data. The Office of the Privacy Commissioner for Personal Data (PCPD) added that Worldcoin should stop scanning and collecting iris and face …
Hong Kong regulator directs Worldcoin to cease operations citing privacy concerns Read More »
By Lisa Barrington SEOUL (Reuters) – Chinese planemaker COMAC is eyeing Saudi Arabia as a launch pad for its international ambitions, as the state-owned company steps up efforts to sell overseas and break into a passenger jet market dominated by Western manufacturers. Chairman Dongfeng He visited Saudi Arabia for the first time this week, having …
China planemaker COMAC eyes Saudi Arabia for global expansion Read More »
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s exports returned to growth in April, and at a much faster pace than analysts’ expectations, and the commerce ministry said on Thursday shipments were expected to eke out a small gain in the second quarter. Customs-based exports rose 6.8% in April from a year earlier, …
Thai exports return to growth in April, beat forecast Read More »
By Helen Reid LONDON (Reuters) – Germany supports an overhaul of European Union import taxes which could end an exemption for cheap parcels that has helped online retailers Shein and Temu grab market share with their cut-price clothes, accessories and gadgets made in China. Critics of Shein and Temu in the United States have already …
Germany backs ending EU tax break that helps Shein and Temu keep prices low Read More »
By Heekyong Yang and Ju-min Park SEOUL (Reuters) -South Korea announced on Thursday a 26 trillion won ($19 billion) support package for its chip businesses, citing a need to keep up in areas like chip design and contract manufacturing amid ‘all-out warfare’ in the global semiconductor market. Under the package, President Yoon Suk Yeol said …
South Korea unveils $19 billion package to compete in global chip ‘warfare’ Read More »
By Josh Ye HONG KONG (Reuters) -China’s Lenovo Group reported a 9% rise in fourth-quarter revenue to $13.8 billion on Thursday, as the world’s largest maker of personal computers (PCs) exits a demand slump following the aftermath of the COVID-19 pandemic. Revenue for the January-March quarter beat an average estimate of $13 billion drawn from …
China’s Lenovo extends revenue growth streak, beats expectations Read More »
By Xinghui Kok SINGAPORE (Reuters) -Singapore’s economy grew 2.7% year-on-year in the first quarter of 2024, the quickest pace in 18 months, data showed on Thursday as the government said it expected manufacturing and trade-related sectors to improve over the course of 2024. The growth matched a preliminary estimate released last month and was stronger …
Singapore posts fastest growth in 18 months as outlook improves Read More »
