BANGKOK (Reuters) – Thailand’s 500 billion baht ($13.53 billion) handout scheme aims to reach the wider population and boost the overall economy through stimulus, a finance official said on Wednesday, responding to central bank recommendations it be targeted towards the poor. The central bank confirmed to Reuters it had sent a letter to cabinet with …
JAKARTA (Reuters) – Chinese firm Ant Group’s Alipay+ has not formally requested a permit for operations in Indonesia, central bank deputy governor Filianingsih Hendarta told a news conference on Wednesday. “There has not been any formal request from Alipay to Bank Indonesia, but usually applicants can request a pre-consultative meeting,” she said, after the CEO …
Indonesia cenbank says China’s Alipay+ yet to request permit Read More »
SEOUL (Reuters) – South Korean memory chipmaker SK Hynix said on Wednesday it plans to invest 5.3 trillion won ($3.86 billion) to build a chip factory for a new dynamic random access memory (DRAM) chip production base in South Korea. The Nvidia supplier plans to start construction at the chip factory, called M15X, at the …
SK Hynix to invest $3.86 billion in DRAM chip production base in South Korea Read More »
(Reuters) -Embattled Chinese property developer Country Garden said it has won bondholders’ approval to further delay payments on three onshore bonds to September, in order to give it more time to raise funds. The largest Chinese private developer, which has defaulted on its $11 billion offshore bonds and is working on an offshore debt restructuring …
Country Garden allowed to postpone first payments on three onshore bonds Read More »
BRUSSELS (Reuters) -The European Commission launched an investigation on Wednesday into Chinese public procurement of medical devices, in the latest move to try to protect European Union producers from what it says could be unfair competition. The probe – which Beijing swiftly criticised – is meant to determine if European suppliers have been granted fair …
EU launches investigation into Chinese medical device market Read More »
(Reuters) – Japanese trading house Sumitomo Corp is planning to invest 200 billion yen ($1.29 billion) to build battery facilities in Japan for storing excess power generated by wind or solar farms, the Nikkei reported on Wednesday. Under the plan, Sumitomo intends to set up more facilities in the Kyushu region to boost total storage …
Japan’s Sumitomo plans $1.3 billion renewable power storage network, Nikkei reports Read More »
By Selena Li HONG KONG (Reuters) – JPMorgan Chase & Co appoints Lu Fang to chair the board of its China securities arm, replacing former chair Park Pu, according to a company memo reviewed by Reuters and confirmed by a company spokesperson. Greg Yu, recently deputy general manager of J.P. Morgan Securities China Company, has …
JPMorgan China names new heads of China securities unit Read More »
By Foo Yun Chee BRUSSELS (Reuters) -TikTok has submitted a risk assessment report on its new app TikTok Lite to the European Commission, the company said on Tuesday, averting a possible fine. The EU executive had on Monday given the ByteDance-owned company 24 hours to provide the report, saying it has concerns about TikTok Lite’s …
TikTok has submitted risk assessment report on TikTok Lite to EU Read More »
By Liam Mo and Brenda Goh BEIJING (Reuters) – Apple’s smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020, as the iPhone maker took a hit from Huawei’s new product launches in the premium segment, market data showed. Apple’s share in the world’s biggest smartphone market …
Apple’s Q1 smartphone shipments in China tumble 19%, data shows Read More »
By Neil Jerome Morales MANILA (Reuters) -Philippine conglomerate SM Investments Corp and its property unit SM Prime Holdings Inc are tapping the overseas market via a maiden $3 billion Euro Medium Term Note (EMTN) programme, company officials said on Tuesday. Tapping the overseas markets will help the company fund its future requirements, SM Investments Vice …
Philippines’ SM Investments, SM Prime to create maiden $3 billion notes programme Read More »
