By Ludwig Burger (Reuters) – BASF said on Thursday it would borrow 40 billion yuan ($5.55 billion) from Chinese banks to fund a major expansion in the southern city of Zhanjiang, taking advantage of low interest rates in the country. The Zhanjiang chemical complex, which will cost BASF up to 10 billion euros ($10.91 billion) …
BASF signs $5.6 billion syndicated bank term loan facility for China site Read More »
SEOUL (Reuters) – Two South Korean companies entered bids to acquire a majority stake in South Korea’s largest container shipper, HMM Co Ltd, Yonhap news agency reported on Thursday, with analysts estimating the deal could be worth up to $6.2 billion. HMM’s creditors, including state-run Korea Development Bank and Korea Ocean Business Corp, have put …
South Korea shipper HMM draws two bidders in sale of majority stake Read More »
By Gayatri Suroyo and Stefanno Sulaiman JAKARTA (Reuters) -Indonesia’s central bank kept interest rates unchanged on Thursday, as expected, noting the benchmark level was adequate to anchor inflation in the next two years and despite renewed volatility in the exchange rate of the rupiah currency. Bank Indonesia (BI) left the benchmark 7-day reverse repurchase rate …
Indonesia central bank keeps rates steady, to monitor inflation risks Read More »
BANGKOK (Reuters) – Japanese automaker Honda will increase the proportion of its production of electric vehicles (EV), EV batteries and electric motorcycles in regional automaking hub Thailand, the Thai government said on Thursday. Thai Prime Minister Srettha Thavisin held a meeting with the company’s executives earlier Thursday. (Reporting by Chayut Setboonsarng and Panarat Thepgumpanat; Editing …
Japan’s Honda to increase EV production in Thailand – Thai government Read More »
BEIJING/SHANGHAI (Reuters) – China’s Zhongzhi Enterprise Group told investors it is heavily insolvent with liabilities of up to $64 billion, more than double its assets, as one of the country’s leading wealth managers grapples with a deepening property sector crisis. The firm, which has sizable exposure to China’s real estate sector, apologised to its investors …
Factbox-Five facts about Chinese wealth manager Zhongzhi that flagged insolvency Read More »
SHANGHAI/SINGAPORE (Reuters) -Fidelity International has garnered 5 billion yuan ($700 million) from investors for its first fixed income mutual fund in China, deepening the asset manager’s involvement in the $3.8 trillion mutual fund market. Its China Managing Director Helen Huang told Reuters in an interview Fidelity is lobbying Chinese regulators to relax stringent data security …
Fidelity International raises $700 million in its first China bond mutual fund Read More »
By Muyu Xu SINGAPORE (Reuters) – The suspension of U.S. sanctions on Venezuelan oil has rattled its biggest customers, China’s independent refiners, who are now holding off on making new purchases amid wide discrepancies in offer prices, trading sources say. The independent refiners have for years bought Venezuelan oil at steep discounts, but since Washington …
China slows Venezuela crude buys as U.S. sanctions lifting triggers ‘disarray’ Read More »
BEIJING (Reuters) -China’s Zhongzhi Enterprise Group, a leading wealth manager, told investors it is heavily insolvent with up to $64 billion in liabilities, threatening to reignite concerns that the country’s property debt crisis is spilling over into the broader financial sector. The firm, which has sizable exposure to China’s real estate sector, apologised to its …
China wealth manager Zhongzhi flags insolvency, $64 billion in liabilities Read More »
BEIJING/TOKYO (Reuters) -Japan’s Mizuho Financial Group has sought to establish a securities company in China, becoming the latest foreign firm to make inroads into China’s onshore securities market with a fully-owned entity. The China Securities Regulatory Commission has received the application from the securities arm of the third-largest Japanese banking group, according to a filing …
Japan’s Mizuho applies to set up securities company in China Read More »
BANGKOK (Reuters) – Car production in Thailand declined 7.02% in October from a year earlier to 158,734 units on weak domestic sales, the Federation of Thai Industries said on Thursday. The figure compared with September’s 8.45% year-on-year fall. Domestic car sales in October declined 8.75% year-on-year after September’s 16.27% on-year drop, due to tighter autos …
Thailand car production drops 7% y/y in Oct as local sales fall Read More »
