By Daniel Leussink (Reuters) -The Japanese government will offer tax incentives for a decade to boost production in five areas including electric vehicles and high-tech chips as part of a bid to attract firms to make big-ticket investments, an outline of the plan showed. The scheme aims to make it easier for companies to invest …
Japan to give tax breaks for 10 years to boost EV, chip production Read More »
By Tom Wilson and Poppy McPherson (Reuters) – The United States has seized digital currency worth about half a million dollars from an account registered to a Chinese man who featured in a Reuters investigation into crypto-investment fraud run from Southeast Asia. U.S. authorities said the scam that prompted the seizure involved a crypto-investment fraud …
U.S. seizes crypto linked to Southeast Asian investment scam Read More »
HONG KONG (Reuters) – China’s GAC Group signed agreement on Wednesday with partners to set up an investment fund which aims to strengthen its business development in the new energy vehicle industry. The fund, with a size of 30 billion yuan ($4.18 billion), will invest in projects such as new energy batteries and automotive chips, …
China’s GAC Group to set up investment fund of $4.18 billion Read More »
NEW YORK (Reuters) – Emerging markets debt and stock portfolios drew in $43.4 billion from foreign investors in November, the largest net amount since January, even as China posted another month of net outflows, data from the Institute of International Finance show. Expectations of a peak in monetary policy tightening in developed economies was seen …
Foreigners shovel $43.4 billion into EM portfolios in November – IIF Read More »
SEOUL (Reuters) – South Korea’s prosecution office is seeking an arrest warrant for a former Samsung Electronics official over the alleged theft of company technology for a Chinese chipmaker, a local broadcaster reported on Wednesday. A former Samsung Electronics employee who left the world’s biggest memory chipmaker eight years ago handed over Samsung Electronics’ core …
TOKYO (Reuters) – Japan’s Denso Corp priced the sale of its shares at a 3% discount to the latest closing on Wednesday, valuing a sweeping unwinding of the Toyota affiliate’s cross-shareholding at around 610 billion yen ($4.2 billion). The share sale, which will see Toyota Motor Corp and two other affiliates sell stakes in Denso, …
Denso sets share sale price at 3% discount, valuing unwinding at $4.2 billion Read More »
By Makiko Yamazaki TOKYO (Reuters) – Japan plans to ask domestic institutional investors such as banks and insurance firms to actively tap emerging asset managers as the government aims to spur healthy competition in the country’s $5 trillion asset management industry. The request, which was included in the government’s action plans for asset management industry …
Japan to ask banks, insurers to actively tap emerging asset managers Read More »
BEIJING (Reuters) – Fitch Ratings said on Wednesday that its outlook for China in 2024 was neutral, but the country would continue to see headwinds from subdued external demand, property sector challenges and local government debt. Fitch forecast mainland China’s gross domestic product (GDP) growth would moderate to 4.6% from just over 5% in 2023, …
Fitch says China 2024 outlook neutral, but debt challenges mount Read More »
By Katherine Masters NEW YORK (Reuters) – With Zara-owner Inditex and H&M set to disclose their most recent sales results, investors will be focused on one major question: how are the two fast-fashion pioneers responding to the current market leader, Shein? Shein has a huge valuation and is primed for an IPO. With sales almost …
How Shein outgrew Zara and H&M and pioneered fast-fashion 2.0 Read More »
SINGAPORE (Reuters) – Japan’s top power generator JERA said on Wednesday it would conduct a joint study with shipping major NYK Line and chemical company Resonac to supply ammonia to ships, as it seeks to expand the use of the low-carbon fuel beyond power plants. The study is the latest among shippers including North Sea …
Japan’s JERA to study ammonia supply to ships with NYK and Resonac Read More »
