By Yuvraj Malik (Reuters) -Grab Holdings on Thursday reported its first ever adjusted core profit in the third quarter and predicted free cash flow next year, driven by strong demand for its food delivery and ride-share services. Shares of the company, one of Southeast Asia’s largest internet firms, were up about 6% in premarket trading …
Grab sets free cash flow target, posts first adjusted core profit Read More »
JAKARTA (Reuters) -Indonesia plans to include nickel shipments in the government’s online tracking system from next year as it moves to improve governance, mining minister Arifin Tasrif said on Friday. With major reserves of the metal, Indonesia is in talks with the United States for a potential trade partnership on minerals critical for electric vehicles, …
Indonesia to include nickel in online tracking system from next year Read More »
SHANGHAI/BEIJING (Reuters) – China’s central bank asked some lenders to cap interest rates on an interbank debt instrument this month, people with knowledge of the matter said on Friday, referring to the rising short-term yields on bank debt and strains in funding markets. Some large-sized commercial lenders were told not to sell negotiable certificates of …
China asks some lenders to cap interbank financing costs – sources Read More »
By Joe Cash BEIJING (Reuters) -China’s commerce minister expressed concern over U.S. curbs on semiconductor exports to China, as well as sanctions on Chinese firms and tariffs on Chinese imports, when he met U.S. Commerce Secretary Gina Raimondo on Thursday, his ministry said Friday. Wang Wentao told Raimondo in San Francisco: “it is very important …
China raises concerns with US over export controls, sanctions, tariffs Read More »
By Karen Freifeld (Reuters) -Semiconductor equipment maker Applied Materials is under U.S. criminal investigation for potentially evading export restrictions on China’s top chipmaker SMIC, according to three people familiar with the matter. The largest U.S. semiconductor equipment maker is being probed by the Justice Department for sending equipment to SMIC via South Korea without export …
SHANGHAI/SINGAPORE (Reuters) – China is widely expected to leave lending benchmark rates unchanged at a monthly fixing on Monday, after the central bank kept medium-term interbank rates steady and amid wider concerns about pressure on the yuan. The loan prime rate (LPR) normally charged to banks’ best clients is calculated each month after 18 designated …
China expected to keep key lending rates unchanged next week Read More »
By Clare Jim, Davide Barbuscia and Karin Strohecker HONG KONG/NEW YORK (Reuters) – China’s direct interventions to ease a cash crunch for crisis-hit property developers are a step in the right direction, but analysts say these actions must be complemented by stronger fiscal and monetary policies to shore up demand in the sector. The extended …
Analysis-China needs to pull ‘multiple levers’ for property turnaround, say analysts Read More »
By James Pearson LONDON (Reuters) -China’s biggest lender, the Industrial and Commercial Bank of China, paid a ransom after it was hacked last week, a Lockbit ransomware gang representative said on Monday in a statement which Reuters was unable to independently verify. ICBC, whose U.S. arm was hit by a ransomware attack that disrupted trades …
Gang says ICBC paid ransom over hack that disrupted US Treasury market Read More »
HONG KONG (Reuters) – Hong Kong-listed shares of China’s Alibaba Group plunged 10% on Friday, wiping about $20 billion off its market value, after the company scrapped plans to spin off its cloud business. Alibaba said its decision to shelve the spin-off was due to uncertainties fuelled by U.S. curbs on exports to China of …
Reaction to Alibaba’s scrapping of cloud unit spin-off Read More »
By Trevor Hunnicutt and David Brunnstrom SAN FRANCISCO (Reuters) -U.S. President Joe Biden on Thursday said he would keep working to advance a Pacific trade pact, even as his vision for a regional deal to counter China’s influence stumbled over his bid to strengthen workers’ rights. “Our work is not yet done,” Biden told corporate …
At APEC, Biden touts workers’ rights, stable Chinese relations Read More »
