By Trevor Hunnicutt, Jihoon Lee and Ju-min Park GYEONGJU, South Korea (Reuters) -Donald Trump and South Korean President Lee Jae Myung finalised details of their fraught trade deal at a summit in South Korea on Wednesday, and the U.S. president also sounded an optimistic note about a looming summit with China’s Xi Jinping. “We made …
Trump announces trade breakthrough with South Korea on Asia trip Read More »
By Chen Aizhu and Sam Li (Reuters) -China’s Sinopec reported on Wednesday a 32% year-on-year decline in net income for the first three quarters due to lower oil prices and weaker fuel sales. The world’s largest refiner by capacity, Sinopec’s third-quarter net profit was 8.5 billion yuan ($1.19 billion), largely flat from a year earlier, …
Sinopec’s Jan-Sept profit down a third on lower oil, weaker fuel sales Read More »
BEIJING (Reuters) -Shares in China’s solar companies jumped on Wednesday after an industry executive told state media that leading firms were forming an association, raising expectations that the industry would move forward with a plan to pare back overcapacity. “Seventeen companies have basically already signed. We are building an association,” the chairman of polysilicon producer …
China solar shares jump after state media report on overcapacity Read More »
By Sudarshan Varadhan SINGAPORE (Reuters) -Malaysia will focus on a mix of solar and gas-fired power generation as it shifts away from coal, the chief executive of state utility Tenaga Nasional (TNB) said on Wednesday, adding that the renewable source would help keep costs down. The Southeast Asian nation of over 35 million people has …
Malaysia bets on mix of solar and gas as it shifts away from coal Read More »
GYEONGJU, South Korea (Reuters) -The Hyundai Motor Group said on Wednesday that the South Korean carmaker appreciated efforts by the United States and South Korea to resolve business uncertainty through a trade deal struck by the two governments. (Reporting by Hyunjoo Jin, Heekyong Yang Ju-min Park; Editing by Ed Davies)
By Aditi Shah TOKYO (Reuters) -Suzuki Motor plans to launch eight sport utility vehicles in India over the next five to six years as it looks to reclaim market share lost to rivals, the Japanese automaker’s president Toshihiro Suzuki said on Wednesday. The company is aiming to bring its share of the Indian market – …
Suzuki aims to reclaim India market share with SUVs, expanded production Read More »
NEW YORK (Reuters) -HSBC has expanded its innovation banking business to Singapore, pledging to allocate $1.5 billion in the city-state as part of a global push to lend to startup companies, the bank said on Wednesday. The group in HSBC’s commercial bank was established in 2023 after it hired dozens of employees from failed Silicon …
HSBC expands startup-focused group in Singapore as part of global push Read More »
By Siyi Liu and Chen Aizhu SINGAPORE (Reuters) -The discounts on Iranian oil offered to China have hit their widest in more than a year, as tightening sanctions on Russia and Iran squeeze buying from independent refiners already constrained by a shortage of crude import quotas, trade sources said on Wednesday. The United States, Britain …
Iranian oil discounts to China widen on sanctions, quota shortage Read More »
By Tomo Uetake TOKYO (Reuters) -Japan’s major life insurers plan to focus on swapping low-yield domestic bonds for higher-return issues in the second half of the fiscal year through March 2026, offering little hope for a rebound in demand for super-long debt. Interviews with 10 domestic life insurers, with assets under management totalling nearly 300 …
Japan’s major life insurers plan to trim yen bond holdings in Oct-March Read More »
(Reuters) -ANE (Cayman) said on Tuesday a consortium comprising its largest shareholder, Centurium Capital, Temasek and True Light have offered to take it private in a deal valuing the China-based transportation and delivery services group at HK$14.33 billion ($1.84 billion). Under the proposal, shareholders can opt for a cash consideration of HK$12.18 per ANE share …
Temasek-backed consortium to take China’s ANE private at $1.84 billion valuation Read More »
