By Lewis Jackson SYDNEY (Reuters) – Pacific Islands nations most at risk from rising seas should consider novel debt-for-nature deals as high debt levels across the region make traditional loans unsustainable, a senior International Monetary Fund official said on Tuesday. Debt-for-nature deals, where government borrowers swap loans for cheaper debt underpinned by credit guarantees from …
By Ariba Shahid KARACHI (Reuters) – Alibaba-owned e-commerce platform Daraz Group has announced layoffs across the group to “adopt a more streamlined and agile structure”, acting Chief Executive Officer James Dong said on Tuesday in an internal memo to employees reviewed by Reuters. The memo did not mention the number of people affected by the …
Alibaba’s South Asian e-commerce giant Daraz announces layoffs in memo Read More »
By Neha Arora NEW DELHI (Reuters) – India’s steel imports touched a six-year high in the first 10 months of the fiscal year to March, led by Chinese shipments, and India was a net importer of finished steel, according to provisional government data seen by Reuters on Tuesday. The demand for steel was strong in …
India’s Apr-Jan steel imports at six-year high as China shipments surge Read More »
By Alasdair Pal SYDNEY (Reuters) – A trade dispute with China over tariffs on Australian wine may be resolved “in a few weeks’ time”, Australian Trade Minister Don Farrell said on Tuesday, removing one of the final obstacles curbing its exports to China. Australian wine exports to China were worth about $800 million in the …
China wine dispute may be resolved in weeks, Australian trade minister says Read More »
By Francesco Guarascio HANOI (Reuters) -Communist-ruled Vietnam is expected to ratify this year the UN convention for the free establishment of trade unions, UN officials and diplomats said, in a move meant to cut risks of trade disputes but likely leaving some foreign companies uneasy. The long-delayed measure would be a major formal step in …
Vietnam plans union reform to avert trade woes, risking foreign firms’ unease Read More »
SHANGHAI/SINGAPORE (Reuters) – Companies have scrambled to scuttle plans for initial public offering in China this year as the securities watchdog tightens rules on share listings in a bearish market. Forty-seven companies pulled their listing plans from China’s stock exchanges so far this year, compared with 29 withdrawals during the same period one year earlier, …
Chinese companies axe IPO plans amid listing scrutiny Read More »
By Gilles Guillaume and Nick Carey GENEVA (Reuters) -Renault and China-owned MG launched new electrified cars in Europe at the Geneva car show on Monday as Chinese automakers seek to take more market share from legacy European rivals. Europe’s auto industry is scrambling to cut costs and roll out more affordable, well-reviewed electric vehicles (EVs) …
Renault leads Europe’s EV defence in Geneva as Chinese rivals expand Read More »
By Mayu Sakoda and Rocky Swift TOKYO (Reuters) -Japan’s Asahi Group Holdings is on the hunt for acquisition targets in the United States and elsewhere to quadruple overseas sales of its flagship Super Dry beer by 2030, its chief executive said. The beverage giant took a step towards that goal last month when it said …
Japan’s Asahi eyes overseas M&A to quadruple sales of Super Dry beer Read More »
(Corrects market share in paragraph 7) (Reuters) – Chinese technology company Honor on Sunday globally launched its new Magic 6 Pro smartphone and showcased an experimental eye-tracking AI function that enables users to remotely open and move their car just by looking at their phone screen. The tool is already available in China and the …
China’s Honor globally launches AI-enhanced Magic 6 Pro smartphone Read More »
By Ananya Mariam Rajesh (Reuters) -Amer Sports shares rose as much as 3.5% on Monday as analysts initiated coverage with largely bullish ratings and highlighted strong demand for the Wilson tennis racket maker’s premium outdoor and sportswear products in China. The company returned to public markets on Feb. 1 after selling shares at a discounted …
Amer Sports rises as brokerages start coverage with focus on China demand Read More »
