SEOUL (Reuters) – Hyundai Motor Co plans to halt its factory in Asan, South Korea, to construct an electric vehicle plant in the period between Dec 31. 2023 to Feb. 13 2024, the South Korean automaker said in a regulatory filing on Monday. Hyundai Motor said it plans to resume operations at the Asan factory …
Hyundai Motor to halt Asan factory in S.Korea for EV factory construction Read More »
BANGKOK (Reuters) – Thailand’s previous 2023 economic growth forecast of 2.7% will be lowered after a weaker-than-expected third quarter, Deputy Finance Minister Krisada Chinavicharana said on Monday. Southeast Asia’s second-largest economy expanded much slower than expected, at 1.5%, in the July-September quarter from a year earlier, the slowest this year, due to declining exports and …
Thailand to lower 2023 growth forecast after weak Q3 Read More »
MELBOURNE (Reuters) – Nickel Industries is inviting electric vehicle and battery makers including Tesla to its Indonesian facilities as it seeks potential investors to the plant, the Australian company’s chief executive said on Monday. The producer of nickel pig iron is expanding into high purity nickel for the EV industry and is building a $2.3 …
Nickel Industries seeks investors for Indonesia plant, invites Tesla, Panasonic to visit Read More »
SHANGHAI (Reuters) -China’s securities regulator has approved three applications for the country’s first publicly traded consumption-related REITs, although market participants say persistent concerns about the property sector will weigh on appetite for new products. The commercial real estate investment trusts (REITs) approved by the China Securities Regulatory Commission (CSRC) are backed by properties owned by …
China approves first batch of consumption-related REITs Read More »
SHANGHAI (Reuters) – Cash conditions in China’s money market showed signs of tightness on Monday, as market participants grew cautious about month-end demand and a recent liquidity squeeze remained fresh in memory. Despite fresh liquidity injections by the central bank to calm the market, traders and analysts said borrowing costs for the funds that could …
China’s money market shows signs of liquidity tightness towards month-end Read More »
SYDNEY (Reuters) – The Australian government will introduce legislation this week that would give the central bank’s independent expert members more responsibility for setting interest rates with a new specialist monetary policy board. The bill would implement the recommendations of a review of the Reserve Bank of Australia (RBA) released in April that requires legislation …
Australia to introduce bill giving central bank experts more sway Read More »
BEIJING (Reuters) -China’s Huawei said on Sunday it will move core technologies and resources in its smart car unit, which has chalked up robust sales for a number of new vehicles, to a new joint company owned up to 40% by automaker Changan Auto. The new company will engage in research and development, production, sales …
Huawei to move smart car operations to new joint company with Changan Read More »
MANILA (Reuters) – Two Chinese fighter jets were monitored “orbiting” a Philippine aircraft participating in patrols with Australia in the South China Sea but did not cause any untoward incident, Manila said on Sunday. The militaries of the Philippines and Australia carried out a second day of sea and air exercises in the Southeast Asian …
Chinese fighter jets ‘orbit’ Philippine patrol aircraft, Manila says Read More »
BEIJING (Reuters) – Chinese Commerce Minister Wang Wentao pledged to deepen bilateral trade ties with Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho Chi Minh City on Saturday, China’s commerce ministry said. Wang said China-Vietnam trade cooperation had already achieved “fruitful results” and would include strategic areas such as the …
SHANGHAI (Reuters) – Beijing police are investigating suspected crimes committed by Zhongzhi Enterprise Group, a leading Chinese wealth manager, according to a social media post published by the Chaoyang Public Security Bureau on Saturday. Zhongzhi earlier this week told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns …
Beijing police launch investigation into troubled wealth manager Zhongzhi Read More »
