MELBOURNE (Reuters) -BHP, the world’s biggest miner, and South Korean steelmaker POSCO said on Thursday that they have signed an agreement to advance the production of “near zero emissions” iron, a major step in manufacturing green steel. The iron will be produced at a demonstration plant at POSCO’s steelworks in South Korea’s portside city of …
BHP, POSCO sign deal to advance hydrogen-based low emissions iron Read More »
SINGAPORE (Reuters) -Singapore’s Tuas Power is targeting operation of its 133 megawatts (MW) coal-fired power plant fully on biomass by 2028, the company said in a statement on Thursday. Tuas Power, which has a generating capacity of 2,670 MW and accounts for a fifth of the city state’s electricity demand, is also exploring clean energy …
Singapore’s Tuas Power to run coal plant on 100% biomass by 2028 Read More »
By Jiaxing Li HONG KONG (Reuters) -Hong Kong’s de-facto central bank lowered its base interest rate by 25 basis points to 4.25% on Thursday, tracking a cut by the U.S. Federal Reserve. It was the second easing by the Hong Kong Monetary Authority (HKMA) this year since a similar cut in September. The rate is …
Hong Kong Monetary Authority cuts interest rate tracking Fed move, banks follow Read More »
(Reuters) -The Bank of Japan kept interest rates steady on Thursday but repeated its pledge to continue increasing borrowing costs if the economy moves in line with its projections, prodding investors to bet on a hike as soon as December. While the central bank roughly maintained its long-term forecasts, it elaborated on overseas risks that …
BANGKOK (Reuters) -Thailand’s manufacturing production index THMPI=ECI rose 1.02% in September from a year earlier, the industry ministry said on Thursday, stronger than analysts’ expectations. The figure compared with a forecast 2.0% year-on-year decline in a Reuters poll, and followed an annual drop of 4.19% in August. (Reporting by Orathai Sriring and Thanadech Staporncharnchai; Editing …
Thai September factory output up 1.02% y/y, stronger than forecast Read More »
BEIJING (Reuters) -China’s Vice President Han Zheng met Saudi Arabia’s Crown Prince Mohammed bin Salman in Riyadh on Wednesday, China’s foreign ministry said. China is willing to work with Saudi Arabia to enhance high-level exchanges and support each other on issues of core interest, the ministry quoted Han as saying in a statement. Riyadh’s concerns …
China’s vice president meets with Saudi Arabia’s crown prince Read More »
BEIJING (Reuters) -China’s state buyer has allowed its steel mills to resume buying a type of iron ore from Australia’s Hancock Prospecting after barring such sales during a year-plus negotiation dispute, three sources with direct knowledge of the matter said. China Mineral Resources Group (CMRG) told steelmakers last month that they could again buy MB …
China lifts partial ban on iron ore buys from Australia’s Hancock, sources say Read More »
SEOUL (Reuters) -Hyundai Motor broke ground on a 930 billion won ($654 million) hydrogen fuel cell production facility in South Korea on Thursday, as the automaker steps up efforts to strengthen its leadership in hydrogen-powered mobility. Hyundai Motor, the world No.3 automaker by sales along with its affiliate Kia Corp, said the facility will produce …
Hyundai Motor breaks ground on $680 million hydrogen fuel cell plant in South Korea Read More »
(Reuters) -Prudential signaled a renewed focus on ASEAN markets on Thursday, continuing efforts to boost its network of agents, while posting a near 13% rise in quarterly new business profit on strength in Hong Kong and mainland China regions. On a constant exchange rate basis, the company posted new business profit of $705 million for …
Insurer Prudential boosts ASEAN focus as third-quarter profit jumps 13% Read More »
SHANGHAI/BEIJING (Reuters) -China has sent a clear signal that it is willing to pull the plug on subsidies for its electric vehicle industry after years of big-ticket government support fuelled a boom that has left the world’s second-largest economy saddled with vast oversupply, prompting it to push into global car markets. Top policymakers omitted electric …
China signals it will pull plug on subsidies for EVs with five-year plan exclusion Read More »
