By Leticia Fucuchima SAO PAULO (Reuters) -China’s State Grid emerged as the big winner in Brazil’s largest-ever electricity transmission line auction on Friday, snapping up the largest batch of projects up for grabs. State Grid won a bid to build and operate 1,500 kilometers of lines, followed by a consortium led by Alupar to build …
Chinese firm wins Brazil power line tender to boost green energy Read More »
BEIJING/NEW YORK (Reuters) -Shares of Chinese wealth manager Hywin Holdings Ltd. fell by nearly 18% to a record low on Friday after it said that it has been unable to promptly fulfill client redemption requests. While Hywin is a small player with total assets of 2.37 billion yuan ($328 million) as of the end of …
China’s Hywin hits record low over missed payments amid property woes Read More »
KARACHI, Pakistan (Reuters) – The International Monetary Fund (IMF) resident representative in Pakistan on Friday denied media reports that the lending body is planning to ask Pakistan to increase taxes on salaries and business income, and increase the maximum threshold for petroleum levy. Media reports had been circulating stating that the IMF asked Pakistan to …
IMF denies it plans to ask Pakistan to raise taxes on salaries – representative Read More »
BEIJING (Reuters) – China has set its third batch of quotas this year for rare earth mining output at 15,000 metric tons, the Industry and Information Technology Ministry said on Friday. The world’s largest producer and consumer of rare earths also set its third batch of quotas for rare earth smelting and separation at 13,850 …
China issues third batch of rare earth quotas for 2023 Read More »
(Reuters) -Embattled property developer China Evergrande said on Friday three supporting agreements to help implement its proposal to restructure $22.7 billion in offshore debt has lapsed and has not been extended. It entered the agreements with members of an ad-hoc group of bondholders in April to help restructure its offshore debt. With more than $300 …
China Evergrande’s three support agreements for debt restructuring lapse Read More »
By Helen Reid LONDON (Reuters) -During Paris Fashion Week, pop icon Cher, Swedish singer Robyn and South Korean DJ Peggy Gou performed at Silencio nightclub to a crowd of actors and models including Jared Leto, Elle Fanning and Irina Shayk. All were wearing shimmering outfits from H&M’s latest collaboration, a collection with the brand of …
Under pressure from Shein, H&M reaches for upmarket shoppers Read More »
BEIJING (Reuters) – China’s fiscal revenue rose by 4.3% in November year-on-year, quickening from a 2.6% gain in October, according to Reuters calculations based on official data on Friday. In the first 11 months, fiscal revenue logged a 7.9% increase from a year earlier, compared with 8.1% growth in the January-October period, finance ministry data …
China’s fiscal revenue growth gathers pace in Nov Read More »
By Echha Jain, Yantoultra Ngui and Kane Wu (Reuters) -Hong Kong’s Vinda International said on Friday Indonesian billionaire Sukanto Tanoto-owned Royal Golden Eagle (RGE) has made an offer to acquire the tissue and diaper maker for up to HK$26.13 billion ($3.35 billion). RGE was one of the two final bidders looking to acquire a 52% …
Hong Kong diaper maker Vinda gets $3.35 billion offer from Royal Golden Eagle Read More »
SEOUL (Reuters) – South Korea’s LG Chem Ltd said on Friday it will invest $820 million to build a battery cathode material factory in the U.S. state of Tennessee. Last year, the South Korean petrochemicals maker announced its plans to invest more than $3 billion through 2027 to build a battery cathode factory in Tennessee …
South Korea’s LG Chem to invest $820 million to build battery cathode factory in US Read More »
By Dominique Patton BEIJING (Reuters) – Chinese corn breeders are preparing for the planting of more than double the amount of genetically modified corn next year than in 2023, three industry sources said, with Beijing expected to tightly control for a second year the rollout of GMOs. GMO corn will be allowed on around 10 …
China corn breeders ready for doubling of GMO planting in 2024 -sources Read More »
