By Yew Lun Tian and Laurie Chen BEIJING (Reuters) – China will boost its defence spending by 7.2% this year, fuelling a military budget that has more than doubled under President Xi Jinping’s 11 years in office as Beijing hardens its stance on Taiwan, according to official reports on Tuesday. The increase mirrors the rate …
By Yuka Obayashi and Ritsuko Shimizu TOKYO (Reuters) – A senior Nippon Steel executive told Reuters he is set to meet the United Steelworkers (USW) union chief this month to seek support for acquiring U.S. Steel, expressing confidence the deal can be finalised by the end of September. Gaining their backing could help the world’s …
Nippon Steel exec to meet USW head to seek support for U.S. Steel deal Read More »
By Antoni Slodkowski, Andrew Hayley and Eduardo Baptista BEIJING (Reuters) -Chinese Premier Li Qiang announced an ambitious 2024 economic growth target of around 5% on Tuesday, promising steps to transform the country’s development model and defuse risks fuelled by bankrupt property developers and indebted cities. Delivering his maiden work report at the annual meeting of …
China vows to ‘transform’ economy, sets ambitious growth target Read More »
BANGKOK (Reuters) – South Korean car maker Kia Corp is in talks with Thailand to build an electric vehicle facility in the Southeast Asian country, two government sources said on Tuesday, as the latter bids to be a top EV maker in the region. Discussions are ongoing and focused on incentives sought by the carmaker …
Korea’s Kia, Thailand in talks over building new EV facility, sources say Read More »
KUALA LUMPUR (Reuters) – Malaysia’s Sime Darby Plantation Bhd, the world’s largest palm oil producer, expects 2024 production growth to rise at least 5% from last year, as the country’s labour situation improves, a top executive said on Tuesday. Sime Darby Plantation’s Group Managing Director Mohamad Helmy Othman Basha said the firm’s higher production this …
Sime Darby Plantation sees higher 2024 output as labour situation eases Read More »
By Marwa Rashad and Florence Tan SINGAPORE/LONDON (Reuters) – Singapore’s Temasek Holdings has shortlisted energy giants Shell and Saudi Aramco among a handful of companies to purchase most of the assets of liquefied natural gas (LNG) trading firm Pavilion Energy, sources with knowledge of the matter said. The sale process comes a decade after the …
HONG KONG (Reuters) – Residents leaving Hong Kong for good withdrew a total of HK$1.69 billion ($216.01 million) from their Mandatory Provident Fund (MPF) pension accounts in the fourth quarter of 2023, down 1.6% from a year earlier, government data showed. A total of 7,200 claims were made in the October-December quarter, compared with the …
Pension withdrawals by residents leaving Hong Kong in Q4 down 1.6% y/y Read More »
By Ankur Banerjee and Tom Westbrook SINGAPORE (Reuters) – Foreign investors returning to China’s recuperating stock markets say spending plans announced on Tuesday are not enough to turn battered sentiment around, and the main reason to keep buying shares for now is because they are cheap. Money managers hunting for bargains have been trickling back …
Analysis-Investors in China stick to bargains as fiscal bazooka proves elusive Read More »
By Yelin Mo and Brenda Goh BEIJING (Reuters) -Apple’s iPhone sales in China fell 24% year-on-year in the first six weeks of 2024, according to research firm Counterpoint, as the U.S. company faced increased competition from domestic rivals such as Huawei. The U.S. tech giant’s chief competitor in China in premium smartphones, Huawei, saw unit …
Apple China iPhone sales plunge 24% as Huawei’s popularity surges Read More »
TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and Apple’s biggest iPhone assembler, reported on Tuesday February revenue fell 12.33% year-on-year, and predicted first-quarter outlook will decrease year-on-year. Foxconn will report fourth quarter earnings on March 14, when it will also update its outlook. (Reporting By Yimou Lee and Faith Hung; Editing …
Foxconn’s February revenue down 12.33% y/y, sees Q1 fall Read More »
