BEIJING/SHANGHAI (Reuters) – China’s Bank of Communications Co Ltd (BoCom), reported a 1.44% rise in first-quarter net profit amid a slowing economy. BoCom, the first among five of the nation’s biggest state banks reporting first-quarter results, booked a net profit of 24.99 billion yuan ($3.45 billion) in the three months ended March, up from 24.63 …
China’s Bank of Communications Q1 profit rises 1.44% Read More »
By Kane Wu and Julie Zhu HONG KONG (Reuters) -TikTok owner ByteDance would prefer to shut down its loss-making app rather than sell it if the Chinese company exhausts all legal options to fight legislation to ban the platform from app stores in the U.S., four sources said. The algorithms TikTok relies on for its …
Exclusive-ByteDance prefers TikTok shutdown in US if legal options fail, sources say Read More »
BEIJING (Reuters) – China’s biggest listed steelmaker, Baoshan Iron & Steel Co, on Friday reported a 4.4% rise in its first-quarter net profit despite lower steel prices amid disappointing downstream demand over the period. The company, known as Baosteel, said in a filing to the Shanghai Stock Exchange that it earned about 1.93 billion yuan …
China’s Baosteel Q1 net profit climbs 4.4% despite sagging steel prices Read More »
BEIJING/SHANGHAI(Reuters) – CITIC Securities Co, China’s biggest brokerage, on Friday reported an 8.5% fall in first-quarter net profit. Net profit fell to 4.96 billion yuan ($684.47 million) in the three months to March 31, compared with 5.42 billion yuan in the same period last year, the company said in a stock exchange filing. ($1 = …
China’s CITIC Securities posts 8.5% fall in first-quarter profit Read More »
BEIJING (Reuters) – It’s taken Huawei just four years to become a force in smart car technology, navigating the devastation of trade sanctions on its smartphones business while simultaneously developing a driver assistance system that is the darling of the Beijing auto show. Huawei Technologies has two huge booths at this week’s event, and there …
Huawei’s smart car tech offers automakers route to China sales Read More »
By Anton Bridge TOKYO (Reuters) -Nomura Holdings, Japan’s biggest brokerage and investment bank, reported on Friday a 670% jump in quarterly net profit compared to a year earlier as its retail and investment banking income rose to their highest levels in eight years. January-March net profit was 56.8 billion yen ($363.87 million) compared to 7.3 …
Nomura Q4 net profit jumps almost eight-fold on retail income surge Read More »
COLOMBO (Reuters) – Sri Lanka will hand over management of its $209 million Chinese-built airport to two Indian and Russian companies, a cabinet statement said on Friday, as the island nation attempts to reduce losses from its state enterprises. Mattala Rajapaksa International Airport (MRIA), funded by China EXIM Bank, has stoked controversy since its opening …
Sri Lanka to hand management of China-built airport to India, Russia companies Read More »
By Hyunsu Yim SEOUL (Reuters) -A South Korean music executive credited with creating popular K-pop group NewJeans denied allegations that she was trying to break her label away from HYBE, home to global sensation BTS, sending the K-pop giant’s shares tumbling on Friday. The internal dispute at HYBE, South Korea’s biggest music firm, has wiped …
K-pop giant HYBE shares take another hit as dispute with NewJeans label drags on Read More »
By Uditha Jayasinghe (Reuters) – Sri Lanka has approved a new law backed by the International Monetary Fund (IMF) allowing the state to seize any proceeds from criminal activities, a cabinet spokesperson said on Friday. The new law was proposed as part of efforts under the IMF programme to improve governance, Transport Minister Bandula Gunawardana said at …
Sri Lanka approves IMF-backed law to seize proceeds of crime Read More »
(Reuters) – The Bank of Japan kept interest rates around zero on Friday and highlighted a growing conviction that inflation was on track to durably hit 2% in coming years, signalling its readiness to hike borrowing costs later this year. The central bank also stuck to its guidance made in March to keep buying government …
