By Francesca Landini TURIN (Reuters) -Energy ministers from the Group of Seven (G7) major democracies reached a deal to shut down their coal-fired power plants in the first half of the 2030s, in a significant step towards the transition away from fossil fuels. “There is a technical agreement, we will seal the final political deal …
HONG KONG (Reuters) – A Hong Kong court adjourned a hearing to liquidate Kaisa Group to May 27, as the embattled Chinese property developer said it aims to iron out restructuring terms in the coming four weeks. Shenzhen-based Kaisa has been working on an offshore debt restructuring for two years after defaulting on its $12 …
Chinese property developer Kaisa’s liquidation hearing adjourned to May 27 Read More »
By Qiaoyi Li and Brenda Goh BEIJING (Reuters) -Tesla CEO Elon Musk arrived in Beijing on Sunday on an unannounced visit, where he was expected to discuss the rollout of Full Self-Driving (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he …
Explainer-What is Tesla’s Full Self-Driving and why its China rollout matters Read More »
BEIJING/SHANGHAI (Reuters) -Agricultural Bank of China Ltd (AgBank) reported a 1.63% fall in first-quarter net profit on Monday, due to shrinking profitability amid sluggish loan demand. Net profit for the three months ended March totalled 70.39 billion yuan ($9.71 billion), compared with 71.55 billion yuan in the same period of 2023, AgBank said in a …
China’s AgBank Q1 profit falls 1.63% as loan margins shrink Read More »
By Rae Wee and Vidya Ranganathan (Reuters) – The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to try to underpin a currency languishing at levels last seen over three decades ago. The dollar fell sharply to 155.01 yen from as high as 160.245 earlier in the …
Japan’s yen jumps against the dollar on suspected intervention Read More »
BANGKOK (Reuters) -Thailand’s economy is expected to grow 2.4% this year, down from a previous forecast of 2.8%, the finance ministry said on Monday, owing to a softening in exports and manufacturing and the impact of drought on agriculture. Southeast Asia’s second-largest economy expanded 1.9% last year, slower than expected and less than 2.5% growth …
Thai finance ministry cuts growth forecast to 2.4% this year Read More »
BEIJING (Reuters) – China will extend tariff exemptions for imports of some U.S. products until Nov. 30, the finance ministry said in a statement on Monday. The additional exemptions that take effect on Wednesday follow current exemptions that expire on Tuesday, according to the ministry. (Reporting by Beijing newsroom, Editing by Louise Heavens)
BEIJING (Reuters) – China’s manufacturing activity in April likely expanded at a slower pace, a Reuters poll showed on Monday, indicating the country’s sprawling factory sector may have lost some momentum at the start of the second quarter. The official purchasing managers’ index (PMI) likely slipped to 50.3 in April from 50.8 in March, according …
China’s April factory activity likely expanded at slower speed: Reuters poll Read More »
(Reuters) – An appliance maker in southern China is finding it hard to ship its products to Russia, not because of any problems with the gadgets but because China’s big banks are throttling payments for such transactions out of concern over U.S. sanctions. To settle payments for its electrical goods, the Guangdong-based company is considering …
Exclusive-China firms go ‘underground’ on Russia payments as banks pull back Read More »
SINGAPORE (Reuters) -Japan’s yen hit a three-decade low on Monday before rebounding in a move currency traders suspected was official intervention. Support for the currency follows a years-long slide that even Japan’s first interest rate hike since 2007 and broad optimism about the economy has failed to arrest. In real terms, the yen has been …
Explainer-Why has the Japanese yen been so weak? Read More »
