SEOUL (Reuters) – Hyundai Motor said on Thursday it plans to stop operations at two parts forging plants in South Korea next year as the automaker accelerates a shift away from petrol-powered cars. The plants in Ulsan, South Korea, which have been in operation since 1991 making engine parts, are expected to be closed in …
Hyundai Motor to shut South Korean parts plants in pivot toward EVs Read More »
By Ben Blanchard and Liz Lee TAIPEI/BEIJING (Reuters) -Taiwan on Thursday accused China of economic coercion and election interference after Beijing announced the end of tariff cuts on some chemical imports from the island, saying Taipei violated a trade agreement, just ahead of Taiwanese elections. Taiwan’s Jan. 13 presidential and parliamentary elections are taking place …
Taiwan accuses China of economic coercion after tariff cut removals Read More »
PARIS/BEIJING (Reuters) -The European Union said on Wednesday it would begin an anti-dumping investigation into biodiesel imports from China, which the bloc’s industry says has slashed domestic production. In August, it began investigating whether biodiesel from Indonesia was circumventing EU duties by going through China and Britain. The latest investigation, prompted by a complaint from …
EU to investigate Chinese biodiesel dumping allegation Read More »
JAKARTA (Reuters) -Indonesia’s central bank stood pat on its main policy rates at its last meeting for the year on Thursday, as expected, and indicated there may be room for monetary easing in the second half of 2024. Bank Indonesia (BI) kept the benchmark 7-day reverse repurchase rate at 6.00%, where it has been since …
Indonesia central bank sits tight on rates, sees room for easing in second half 2024 Read More »
SEOUL (Reuters) – South Korea’s parliament on Thursday approved increasing next year’s budget by a net 17.9 trillion won to 656.6 trillion won ($503.50 billion). The increase is the smallest in two decades as authorities prioritise fiscal discipline in a U-turn from expansionary expenditure made during the coronavirus pandemic, according to the nation’s finance ministry. …
By Makiko Yamazaki and Mariko Katsumura TOKYO (Reuters) -Japan’s Toyo Construction will stick to its plans to sharply boost shareholder returns, an executive said on Thursday, after the marine construction firm’s top investor withdrew a takeover offer, sending shares down sharply. Yamauchi-No.10 Family Office (YFO), the family office linked to Nintendo’s founder, which has a …
Toyo to stick to shareholder returns policy after top investor’s bid withdrawal Read More »
JAKARTA (Reuters) – Indonesia’s anti-corruption agency arrested a director of nickel miner Trimegah Bangun Persada, also known as Harita Nickel, over an alleged bribery case, a company spokesperson said on Thursday. The case is related to the arrest of North Maluku governor Abdul Ghani Kasuba by the anti-graft agency earlier this week over accusation that …
Indonesia anti-graft agency arrests Harita Nickel director Read More »
By Anton Bridge TOKYO (Reuters) -Toyota Motor shares slumped on Thursday as Japan’s transport ministry inspected a subsidiary over safety concerns dating back decades and as the world’s top-selling automaker separately announced a recall of 1.1 million vehicles. Shares in Japan’s biggest automaker closed down 4.0%, underperforming the benchmark Nikkei average, which fell 1.6%. A …
Toyota shares slump on safety scandal at Daihatsu, vehicle recall Read More »
By David Shepardson WASHINGTON (Reuters) -Toyota Motor said on Wednesday it will recall 1.12 million vehicles worldwide because a short circuit in a sensor could cause air bags not to deploy as designed. The recall covers 2020 through 2022 model year vehicles including various Avalon, Camry, Corolla, RAV4, Lexus ES250, ES300H, ES350, RX350 Highlander and …
Toyota recalling 1.12 million vehicles over potential air bag issue Read More »
By Takaya Yamaguchi and Tetsushi Kajimoto TOKYO (Reuters) -Japan’s government aims to reduce its budget next fiscal year for the first time in 12 years, highlighting concerns over the massive public debt of the world’s third-largest economy, a draft of the 2024-25 budget reviewed by Reuters showed. The budget is estimated to come to 112.1 …
Japan aims to trim budget for first time in 12 years, 2024-25 draft shows Read More »
