BANGKOK (Reuters) – Thai Prime Minister Srettha Thavisin said on Thursday the country’s economy was in “crisis”, stressing the need to forge ahead with his controversial 500 billion baht ($14.23 billion) digital handouts policy. Speaking at a forum, Srettha said the economy was not in good shape with fewer foreign arrivals than targeted, and he …
Thai economy in ‘crisis’ and needs major stimulus – PM Read More »
BEIJING (Reuters) – An investment fund backed by China’s National Social Security Fund was launched in Shanghai, with a size of 5.1 billion yuan ($707.24 million) for its first phase, the financial regulatory authority in Shanghai said on Thursday. The fund, to be managed by investment firm IDG Capital, will focus on supporting innovation in …
China launches social security fund-backed $707 million investment fund in Shanghai Read More »
(Reuters) – Industrial and Commercial Bank of China (ICBC) has been unable to convince some market participants that it is safe to reconnect their computer networks to the bank’s U.S. unit after a ransomware attack disrupted its systems, Bloomberg News reported on Wednesday. The attack impeded trading in the $26 billion Treasury market and has …
ICBC partners wary to resume trading with bank after cyberattack – Bloomberg News Read More »
LONDON (Reuters) – Japanese carmaker Nissan Motor Co will announce on Friday that it will build the electric versions of its Qashqai and Juke models at its plant in Sunderland, northern England, Sky News reported on Wednesday. Citing automotive industry sources, Sky reported Nissan would commit hundreds of millions of pounds to the project. While …
Nissan to make electric versions of Qashqai, Juke in Britain -Sky News Read More »
By Arriana McLymore NEW YORK (Reuters) -Upstart online retailers Temu.com and Shein are drawing millions of window-shoppers to their websites this holiday season, but they far lag market leader Amazon.com where it counts – turning those visits into actual sales. Nine out of ten visitors to their websites were window shoppers, not buyers, according to …
Analysis-Temu, Shein far lag Amazon as online holiday shopping ramps up Read More »
By Johannes Birkebaek COPENHAGEN (Reuters) -Maersk on Wednesday announced it had entered into the shipping industry’s first large-scale agreement for green methanol from China’s Goldwind, and said production of green methanol was high on the political agenda in China. Shipping industry leader Maersk is investing in green fuels to power its fleet as it strives …
Maersk enters deal for half a million tonnes of green methanol annually Read More »
By Casey Hall and Jenny Wang SHANGHAI/BEIJING (Reuters) – A top Alibaba executive told staff on Wednesday that it was a “coincidence” that a plan by former chief Jack Ma’s family trust to sell some shares in firm was disclosed on the same day the firm scrapped its cloud unit’s listing. In a move seen …
Alibaba exec moves to quell staff concern over Jack Ma share sale with internal post Read More »
(Reuters) – Country Garden Holdings Co has been included on China’s draft list of 50 developers eligible for a range of financing support, Bloomberg reported on Wednesday, citing people familiar with the matter. Sino-Ocean Group has also been included on China’s draft list of 50 developers, Bloomberg added. (Reporting by Devika Nair in Bengaluru; Editing …
China puts Country Garden on draft list of builders to support- Bloomberg News Read More »
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is expected to hold interest rates steady on Friday as it awaits progress on debt restructuring seen as crucial to receiving the second tranche of a $2.9 billion IMF bailout package. The median forecast in a Reuters poll of 15 economists and analysts is for …
Sri Lanka likely to keep rates steady, awaiting IMF progress- Reuters poll Read More »
BEIJING/HONG KONG (Reuters) -China is set to appoint Zhu Hexin, a veteran banker and chief of state-run financial conglomerate CITIC Group, as the new head of its foreign exchange regulator, four people familiar with the matter said, amid growing headwinds for the economy and markets. Zhu’s appointment to lead the State Administration of Foreign Exchange …
Exclusive-China to name finance veteran Zhu as new forex chief – sources Read More »
