By Nora Buli OSLO (Reuters) -Norway has awarded its first North Sea wind farm licence to a group made up of IKEA store owner Ingka and a Japanese power joint venture, with the first electricity production expected in 2030, the energy ministry and companies said on Wednesday. The government hopes the auction for the right …
Japanese groups, IKEA-linked investor win first Norway offshore wind tender Read More »
By Josh Ye HONG KONG (Reuters) -China’s Tencent Holdings posted a weaker-than-expected 7% rise in fourth-quarter revenue on Wednesday as its gaming revenue shrank, and said it was expecting to at least double its share buybacks this year. The world’s largest video game company and operator of the WeChat messaging platform reported revenue of 155.19 …
China’s Tencent posts weak revenue growth, plans to double buybacks Read More »
By Ariba Shahid and Asif Shahzad ISLAMABAD (Reuters) -The International Monetary Fund on Wednesday said it had reached a staff level agreement with Pakistan, which if approved by its board, will disburse $1.1 billion for the indebted South Asian economy also saddled with a balance of payment crisis. The funds are the final tranche of …
IMF says it reaches a staff level agreement with Pakistan to disburse $1.1 billion Read More »
TAIPEI (Reuters) – Taiwan’s export orders fell in February as fewer working days during the Lunar New Year holiday limited productivity, with the outlook clouded by geopolitical uncertainty and high interest rates despite robust demand for AI applications. Export orders last month fell 10.4% from a year earlier to $37.73 billion, hit by a sharp …
Taiwan Feb export orders miss expectations, China, US weigh Read More »
By Colleen Howe BEIJING (Reuters) – China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry group said on Wednesday, slower than last year’s 2.9% growth. The projection comes on the back of record output in 2023, when the world’s largest …
China coal industry group expects output growth to slow in 2024 Read More »
SHANGHAI (Reuters) -Apple CEO Tim Cook hailed China’s importance in the firm’s supply chain as he met suppliers including BYD Electronics on Wednesday, local media said, on a visit that comes amid a drop in China sales for the iPhone maker. In a post on his Weibo social media account, Cook said he spent the …
Apple boss Tim Cook visits Shanghai with China sales under pressure Read More »
By Mimosa Spencer PARIS (Reuters) -Kering’s shares slumped on Wednesday after the French luxury goods company warned that first quarter sales at its star label Gucci would drop by around 20% due to weakness in Asia. Kering shares were down by around 13 percent in early session trading, dragging down the stock prices of other …
Gucci’s steep sales decline throws spotlight on China Read More »
By Josh Smith SEOUL (Reuters) – South Korean President Yoon Suk Yeol called for deeper defence ties with the United Kingdom on Wednesday as he met the visiting British deputy prime minister, with the two countries also kicking off a new round of trade negotiations this week. Yoon met Oliver Dowden on the sidelines of …
S.Korea’s Yoon vows more cooperation with Britain as trade talks resume Read More »
By Leika Kihara, Takahiko Wada and Mariko Katsumura TOKYO (Reuters) – The Bank of Japan’s strategy for an orderly exit from years of massive stimulus unraveled on an overcast day in December when Governor Kazuo Ueda and two deputies gathered at the bank’s Tokyo headquarters. Inflation was slowing more than expected, complicating the central bank’s …
How the Bank of Japan’s plan for a smooth stimulus exit stumbled Read More »
By Yew Lun Tian, Laurie Chen and John Irish BEIJING/PARIS (Reuters) – Trade will be high on the agenda when Chinese President Xi Jinping meets his French counterpart Emmanuel Macron in Paris in May, diplomatic sources say, Xi’s first Europe trip in five years amid mounting EU-China tensions. Macron was given an unusually lavish reception …
Trade will be high on agenda during Xi’s visit to Paris in May, sources say Read More »
