(Reuters) – The Bank of Japan maintained ultra-easy monetary settings on Tuesday in a widely expected move, as policymakers allow more time to determine whether wage increases will broaden enough to keep inflation sustainably at its 2% target. Following are excerpts from BOJ Governor Kazuo Ueda’s comments at his post-meeting news conference, which was conducted …
BANGKOK (Reuters) – Thai hotels giant Minor International ended 2023 on a strong note and was seeing bookings in Thailand in the first two months of 2024 up 20% to 30% from last year, its chairman said on Tuesday. Tourism spending in 2024 in Thailand, an Asian travel hotspot, was expected to be higher than …
Hotels group Minor says Thailand bookings in first 2 months up 20%-30% y/y Read More »
WASHINGTON (Reuters) – China’s lackluster economic recovery has not had a particularly strong effect on the U.S. economy given diversification of supply chains over the past years, White House National Economic Council Director Lael Brainard said on Monday. Brainard told an event hosted by the Brookings Institution that other countries in Asia and those more …
China’s ‘lackluster recovery’ not having strong effect on US economy – Brainard Read More »
(Reuters) -Iranian-backed Houthi militants in Yemen have stepped up attacks on vessels in the Red Sea, impacting a shipping route vital to East-West trade. In response, some shipping companies have instructed vessels to instead sail around southern Africa, a slower and therefore more expensive route. The U.S. and Britain launched dozens of air strikes against …
Factbox-Shipping firms react to Houthi attacks in the Red Sea Read More »
(Reuters) -SolarEdge Technologies said on Sunday it would lay off about 16% of its global workforce in an attempt to reduce operating costs. The job cuts, which would affect roughly 900 employees, came after SolarEdge discontinued manufacturing in Mexico, reduced capacity in China, and terminated light commercial vehicle e-mobility activity. Costs related to these actions …
SolarEdge to lay off 16% of workforce to trim operating costs Read More »
BEIJING (Reuters) – China will take more forceful and effective measures to support market confidence, state media CCTV reported on Monday, citing a cabinet meeting, following a plunge in Chinese shares. The world’s second-biggest economy faces multiple challenges including a weak housing market, sluggish demand, deflationary pressures and geopolitical uncertainties – factors that have weighed …
China pledges to take more forceful measures to support market confidence Read More »
SHANGHAI/BEIJING (Reuters) -China’s major state-owned banks moved to support the yuan on Monday, tightening liquidity in the offshore foreign exchange market while actively selling U.S. dollars onshore as equities slid, four sources with knowledge of the matter said. The goal was to prevent the yuan from falling too fast as China’s A shares plunged, said …
Exclusive-China moves to support yuan as stock markets tumble – sources Read More »
HONG KONG (Reuters)PROPERTY/DEBT-COUNTRYGARDEN – A major group of Country Garden offshore creditors has appointed Kirkland & Ellis LLP as the legal adviser, a source familiar with the matter said, in a move towards discussing debt repayment options with the defaulted Chinese developer. Country Garden has been working on a plan to restructure its $11 billion …
Country Garden’s offshore bondholders pick Kirkland for debt revamp talks – source Read More »
TAIPEI (Reuters) – Taiwan’s export orders fell more than expected in their worst performance in six months in December, with the outlook for the island’s high-tech products remaining poor due to growing doubts about global economic growth. Export orders last month slipped 16.0% from a year ago to $43.81 billion, the worst showing since July …
Taiwan Dec export orders in worst fall in 6 months, outlook poor Read More »
TOKYO (Reuters) – Tokyo Steel Manufacturing, Japan’s top electric-arc furnace steelmaker, on Monday said it will raise prices for four steel products by up to 1.9% in February to reflect market conditions and rising production costs amid higher raw material prices. This is the company’s first price hike in 10 months and comes after it …
Tokyo Steel to raise prices for four products in February Read More »
