By Asif Shahzad ISLAMABAD (Reuters) -Pakistan’s economic indicators are showing positive signs, with an agenda of painful reforms and privatization on track, Prime Minister Shehbaz Sharif said on Friday, ahead of an IMF board meeting to decide on a $1.1 billion funding for the country. The prime minister said, in an address to his cabinet …
Pakistan’s economic conditions show improvement, says PM Read More »
By Alessandra Galloni, David Lawder and Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen told Reuters on Thursday that U.S. economic growth was likely stronger than suggested by weaker-than-expected data on first-quarter output and said the Biden administration was keeping all options open to respond to threats from China’s excess industrial capacity. In …
Yellen says US economy strong, all options open on China’s overcapacity Read More »
By Alessandra Galloni and David Lawder WASHINGTON (Reuters) -The Biden administration is not taking any options off the table to respond to China’s excess industrial capacity, which is a top concern for the U.S. and its allies, U.S. Treasury Secretary Janet Yellen told Reuters on Thursday. China exporting its way to full employment is not …
Nothing off the table in US response to China overcapacity, Yellen says Read More »
By Maki Shiraki TOKYO (Reuters) – Honda Motor plans to invest C$15 billion ($11 billion) in new EV and battery production plants alongside its existing facilities in Ontario, it said on Thursday, the Japanese automaker’s largest ever investment in Canada. The investment, announced by company executives and Canadian Prime Minister Justin Trudeau, signals Honda’s expectation …
Honda to set up $11 billion electric vehicle, battery plants in Canada Read More »
By David Shepardson WASHINGTON (Reuters) -The Federal Communications Commission said on Thursday it is ordering the U.S. units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the United States. The FCC said it was requiring the Chinese carriers to discontinue services within 60 days of the …
Agency bars Chinese telecom carriers from offering US broadband services Read More »
(Reuters) -Malaysian airline operator Capital A, also the parent of AirAsia, announced deals worth 6.8 billion ringgit ($1.42 billion) on Thursday, in a move to create a new listed entity and streamline operations by merging various airline affiliates. As part of the deals, long-haul airline AirAsia X will take over Capital A’s aviation business and …
Carrier AirAsia discloses new listing plans under $1.4 billion units merger Read More »
By Anton Bridge TOKYO (Reuters) – Japanese firms should reduce their “strategic shareholdings” to improve resource allocation, which is key to Japan’s economic revival, the Asian Corporate Governance Association (ACGA) said. Strategic shareholdings, which include allegiant and cross-shareholdings, serve to form business relationships between group companies and their suppliers and customers, but reduce capital efficiency, …
By Simon Lewis SHANGHAI (Reuters) -U.S. Secretary of State Antony Blinken on Thursday called on China to provide a level playing field for American businesses as he began a visit aimed at resolving a raft of contentious issues that could jeopardise the newly repaired relationship. Blinken’s trip is the latest high-level contact between the two …
In China, Blinken urges fair treatment of American companies Read More »
By Heekyong Yang and Ju-min Park SEOUL (Reuters) – South Korean automaker Hyundai Motor Co warned on Thursday of intensifying competition and uncertain global economic conditions after posting a 2.4% drop in quarterly profit, hit by a domestic sales plunge. Hyundai’s cautious outlook and weak performance contrast with bullish forecasts from its U.S. rivals such …
Hyundai Motor Q1 hurt by weak home sales, doubles down on hybrids, India Read More »
By Alexandra Alper WASHINGTON (Reuters) – Republican China hardliner Marco Rubio is calling on the Biden administration to block all sales to Huawei after the sanctioned Chinese tech company released a new AI-enabled laptop powered by an Intel AI processor chip. The release of Huawei’s first AI-enabled laptop, the MateBook X Pro powered by Intel’s …
Republican Senator Rubio calls for blocking of all US sales to Huawei Read More »
