JAKARTA (Reuters) – Indonesia’s state budget showed a deficit of 35 trillion rupiah ($2.26 billion) for the period of January through to December 12, or 0.17% of gross domestic product, its finance minister said on Friday. The budget has turned to a deficit since October as spending catches up with revenues. Total revenues for the …
Indonesia’s state budget at deficit of $2.3 billion – Finance Minister Read More »
By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s finance minister said on authorities were “firmly watching” currency market moves, after Federal Reserve Chair Jerome Powell’s comment flagging rate cuts next year may have prompted a spike in the yen against the dollar. “I know there are various market talk but the finance ministry won’t comment on any …
Japan ‘firmly watching’ FX, near-term action unlikely Read More »
SEOUL (Reuters) – South Korea’s National Pension Service (NPS) and the country’s central bank have agreed to extend their $35 billion foreign exchange swap programme until the end of 2024. The welfare ministry, which oversees the pension fund’s investment policies, and the Bank of Korea (BOK) both confirmed the agreement in a statement on Friday. …
S.Korea pension fund, central bank extend FX swap until end-2024 Read More »
MANILA (Reuters) – The Philippines’ current account deficit is expected to narrow to $9.5 billion, or 2.0% of gross domestic product (GDP) in 2024 from the projected deficit of $11.2 billion, or 2.5% of GDP, this year, the central bank said on Friday. The Bangko Sentral ng Pilipinas’ (BSP) previous forecast for 2024 current account …
Philippine central bank sees narrower 2024 current account deficit Read More »
SINGAPORE (Reuters) – Singapore-headquartered private equity and venture capital firm Northstar Group said on Friday its Northstar Ventures I, L.P. fund had secured close to $140 million in capital commitments and would look to make early-stage investments. Northstar said the fund obtained backing from investors including sovereign wealth funds, institutional investors, family offices and high …
Singapore’s Northstar Group raises $140 million for Southeast Asia venture fund Read More »
By Josh Ye HONG KONG (Reuters) – China’s video games market returned to growth this year as domestic revenue rose 13% to 303 billion yuan ($42.6 billion), putting Beijing’s 8-month crackdown two years ago in the rear-view mirror. Industry association CGIGC said at a conference in Guangzhou on Friday the industry’s domestic revenue this year …
China’s video games market recovers in 2023, domestic sales surpass $42.6 billion Read More »
SHANGHAI (Reuters) – Zeekr, the premium electric vehicle brand of Chinese automaker Geely, unveiled on Thursday lithium iron phosphate batteries it developed that support fast charging. Zeekr becomes the latest manufacturer to launch such a battery in a competitive market, as it moves to cut dependence on external suppliers for the key component of electric …
China EV maker Zeekr unveils fast-charging LFP battery Read More »
PARIS (Reuters) – Electric vehicle brand MG Motors, owned by China’s SAIC, expects new French subsidy rules to weigh on future vehicle sales in the country, a spokesperson for the group said on Thursday. France’s revamped rules on consumer cash incentives for electric car purchases favour vehicles made in France and Europe over models manufactured …
Chinese EV maker MG Motors says new French subsidy rules likely to impact sales Read More »
BERLIN (Reuters) – Global index provider MSCI removed a ‘red flag’ rating indicating involvement in very severe environmental, social and governance controversies from Volkswagen stock and replaced it with an ‘orange flag’, MSCI said on Thursday. The index provider made the move after reviewing the public findings of an audit by management consultancy Loening GmbH …
Volkswagen sheds ‘red flag’ rating from index provider MSCI after Xinjiang site audit Read More »
By Casey Hall SHANGHAI (Reuters) -PDD Holdings’ international facing discount e-commerce platform, Temu, filed a lawsuit in a U.S. District of Columbia court on Wednesday alleging rival Shein employed “Mafia-style intimidation” to coerce suppliers that also worked with Temu. According to the filing, Boston-based company WhaleCo Inc, which operates in the U.S. as Temu, alleges …
Low-cost e-commerce player Temu files new lawsuit against rival Shein Read More »
