(This Jan. 19 story has been refiled to add the company name ‘AlixPartners’ to the comment in paragraph 4) By Megan Davies and Divya Chowdhury DAVOS, Switzerland (Reuters) – Business leaders in Davos say they are increasingly turning to scenario planning to safeguard supply chains and lessen the potential hit from unexpected geopolitical crises. Many …
CEOs leave Davos to game out 2024 geopolitical scenarios Read More »
By Clare Jim and Xie Yu HONG KONG (Reuters) – A Hong Kong court on Monday ordered the liquidation of property giant China Evergrande Group, dealing a fresh blow to confidence in the country’s fragile property market as policymakers step up efforts to contain a deepening crisis. Justice Linda Chan decided to liquidate the world’s …
China Evergrande ordered to liquidate in landmark moment for crisis-hit sector Read More »
JAKARTA (Reuters) – Indonesia will provide additional cash handouts for three months covering January, February and March to mitigate the risk of rising food prices, its chief economic minister said on Monday. The government has allocated about 11.25 trillion rupiah ($711.8 million) for the programme and the handouts will be given to 18.8 million families, …
Indonesia to provide more cash handouts to mitigate risk of rising food prices Read More »
BEIJING (Reuters) – China’s manufacturing activity in January likely shrank for the fourth straight month though at a slower pace than in December, a Reuters poll showed, indicating the country’s sprawling sector was still struggling to regain momentum at the start of 2024. The official purchasing managers’ index (PMI) likely nudged up to 49.2 in …
China’s January factory activity likely contracted but less sharply: Reuters poll Read More »
TOKYO (Reuters) -Toyota Motor said it would suspend shipments of some models including the Hilux truck and Land Cruiser 300 SUV after finding irregularities in certification tests for diesel engines developed by affiliate Toyota Industries. A special investigative committee found irregularities during horsepower output testing for the certification of three diesel engine models. Ten models …
Toyota halts shipment of some vehicles over certification issues Read More »
TOKYO (Reuters) – Japanese retail giant Aeon Co Ltd has entered into exclusive talks with Oasis Management to acquire shares the Hong Kong-based activist investor holds in drugstore chain Tsuruha Holdings Inc, it said on Monday. Details of how many shares it will acquire and how much it will pay per share will be subject …
Japan’s Aeon in exclusive talks to buy Tsuruha stake from Oasis Read More »
By Noel Randewich (Reuters) – Microsoft’s early lead in artificial intelligence has the software heavyweight’s stock market value poised to pull decisively ahead of Apple’s over the next five years, 13 institutional investors unanimously agreed ahead of the tech titans’ quarterly results this week. Microsoft’s shares have surged 7% so far in 2024, recently sending …
Investors see Microsoft’s stock market value leaving Apple behind Read More »
SINGAPORE (Reuters) – Asset manager GLP Capital Partners said on Monday it had partnered with a global institutional investor in raising 10 billion Chinese yuan ($1.4 billion) for its China Income Fund XII, which would own 25 logistics and business parks in China. GLP, which has offices in Shanghai and Singapore, did not disclose the …
GLP Capital Partners raises $1.4 billion for its China Income Fund XII Read More »
By Kitiphong Thaichareon and Orathai Sriring BANGKOK (Reuters) -Thailand’s economy is in a state of recession owing to a high level of household debt, a deputy finance minister said on Monday, raising pressure on the central bank to cut interest rates. Deputy Finance Minister Julapun Amornvivat also said the government was committed to delivering on …
Thai economy in recession, needs a boost -deputy Finance Minister Read More »
HONG KONG (Reuters) – Hong Kong private home prices fell 6.8% in 2023 after declining for the eighth consecutive month in December, dragged down by fragile market sentiment, high interest rates and a week economic outlook. Home prices in one of the world’s most expensive property markets dropped 1.4% in December from the previous month, …
Hong Kong home prices drop 6.8% in 2023, outlook still weak Read More »
