By Scott Murdoch and Selena Li SYDNEY (Reuters) -Asia-focused insurer FWD Group has cut around 50 jobs in its head offices this week, according to two sources with direct knowledge of the matter. The job cuts took place mainly in Hong Kong and Singapore, added one of the sources. The two sources requested not to …
Hong Kong insurer FWD Group cuts around 50 jobs – sources Read More »
(Reuters) – The International Monetary Fund on Friday projected that China’s economic growth would slow to 4.6% in 2024 and decline further in the medium term with growth of about 3.5% projected in 2028. China’s economy has been hit by weakness in its property sector and subdued external demand, the IMF said. The world’s second-largest …
IMF projects China GDP to slow to 4.6% in 2024, decline further in medium term Read More »
By Yuka Obayashi TOKYO (Reuters) – Japanese trading house Marubeni on Friday reported a 20% drop in April-December net profit due to lower prices of coking coal and energy and the one-off effect of a disposal that boosted year-ago profits. Marubeni posted a profit of 371.5 billion yen ($2.5 billion) in the nine months through …
Marubeni posts 20% drop in 9-mth profit on lower resource prices Read More »
By Daniel Leussink and Abhirup Roy TOKYO/SAN FRANCISCO (Reuters) – When Tony Le set out with his wife to buy a new car last year, he looked at Tesla and other all-electric models. In the end, the 37-year-old Modesto, California, tech worker opted for a Toyota RAV4 Hybrid due to worries over getting stranded with …
Analysis-Toyota to outshine rivals as more consumers opt for hybrids amid EV slowdown Read More »
TOKYO (Reuters) -Mizuho Financial Group Inc, Japan’s third-largest lender by assets, reported on Friday an 8.2% increase in quarterly net profit, helped by brisk loan demand from companies and subdued loan-loss provisions at home. Mizuho joined larger domestic rival Sumitomo Mitsui Financial Group (SMFG) in reporting solid third-quarter profits backed by strong lending businesses, as …
Japan’s Mizuho reports 8.2% rise in Q3 profit on strong lending business Read More »
By Peter Hobson CANBERRA (Reuters) – The Australian government said on Friday that delays in the issuance of import permits by Indonesia for a range of agricultural goods was impacting shipments from Australia and other countries. It said the delays were affecting goods including fruit and vegetables, meat and live cattle. Australia exports around $700 …
Australia says Indonesian import permit delays are hitting agricultural trade Read More »
TOKYO (Reuters) -Japan’s Panasonic Holdings posted a rise in third-quarter operating profit for its battery-making energy unit on Friday, helped by stronger sales in North America, and kept its full-year profit forecast for the segment. Third-quarter operating profit was boosted by increased sales in North America and a better balance between raw materials and selling …
Panasonic’s battery unit sees Q3 profit rise on stronger North America sales Read More »
By Anton Bridge TOKYO (Reuters) -Japan’s Government Pension Investment Fund (GPIF) reported on Friday an investment gain of 5.7287 trillion yen ($39.14 billion) in October-December, as an end to interest rate hikes brought down long-term U.S. and European bond yields, boosting equities. The world’s largest pension fund gained 2.62% for the three months, growing its …
Japan’s GPIF posts $39 billion investment return in Q3 on falling long-term yields Read More »
JAKARTA (Reuters) – Indonesia’s sovereign wealth fund said on Friday it has recruited as its managing director Christopher Ganis, an executive at the world’s largest asset manager BlackRock. Indonesia Investment Authority (INA) chief Ridha Wirakusumah said Ganis will be in charge of investments in hybrid capital solutions, including private credit. BlackRock did not immediately respond …
Indonesia wealth fund recruits BlackRock exec Ganis as MD Read More »
WARSAW (Reuters) – Polish pipeline operator Gaz-System has chosen Japan’s Mitsui O.S.K. Lines to supply a floating storage and regasification unit (FSRU), it said on Thursday. The FSRU will function as a regasification terminal for liquified natural gas (LNG) and will be based in the Bay of Gdansk. Poland has turned to seaborne LNG as …
Poland’s Gaz-System chooses Mitsui O.S.K. Lines for floating unit Read More »
