(Reuters) – Following are some excerpts taken from Singapore’s 2022 budget proposals announced by Finance Minister Lawrence Wong to parliament on Friday. SUPPORT PACKAGES – “While the overall outlook is positive I recognise that there are segments of the economy still struggling. I will therefore provide targeted help for our workers and businesses in these …
BEIJING (Reuters) -China’s state planner will take steps to stabilise the commodity market and hasten construction of new infrastructure, it said on Friday, in the effort to promote steady industrial growth. In a joint notice, the National Development and Reform Commission (NDRC) and other regulators announced 18 measures in a notice involving fiscal, financial, environmental …
China to boost commodity price supervision in push for industrial growth Read More »
TOKYO/SINGAPORE (Reuters) – Malaysia’s Petronas and Japan’s Mitsubishi Corp are divesting their stakes in Myanmar’s Yetagun gas field, the companies said, in the latest exits by major energy companies from the country since last year’s military coup. A spokesperson from Mitsubishi told Reuters on Friday it would be difficult to continue the business from technical …
Mitsubishi, Petronas to sell stakes in Myanmar Yetagun gas field Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The safe-haven Japanese yen and Swiss franc climbed to two-week peaks against the U.S. dollar on Thursday, on worries about escalating Russia-Ukraine tensions that could have economic repercussions worldwide. In afternoon trading, the dollar slid to 114.845 yen, the lowest since early February. It was last down 0.5% at …
Yen, Swiss franc gain on safe-haven bids as Russia-Ukraine tension rises Read More »
By Joseph White DETROIT (Reuters) -Nissan Motor Co said on Thursday it will invest $500 million to retool its U.S. assembly plant near Canton, Mississippi, to build two new electric vehicles, and a top executive said the automaker is looking for a U.S. site to build a battery factory. Nissan said it plans to assemble …
Nissan plans EVs for Mississippi, scouts for a U.S. battery plant Read More »
By Gayatri Suroyo and Leika Kihara JAKARTA/TOKYO (Reuters) -The crisis in Ukraine overshadowed a gathering of finance leaders from the world’s top 20 economies that kicked off on Thursday, with host Indonesia’s president warning “now is not the time” to create new risks to a fragile global recovery. Russia’s military presence on its borders with …
Indonesia urges G20 collaboration as Ukraine crisis overshadows meeting Read More »
BRUSSELS (Reuters) – The European Union is imposing tariffs on imports of steel fasteners from China on the basis that they are being sold at artificially low prices, the EU official journal said on Thursday. Tariffs of between 22.1% and 86.5% will apply from Friday on Chinese imports of the product that ranges from simple …
EU imposes anti-dumping tariffs on Chinese steel fasteners Read More »
By Makiko Yamazaki and Yuki Nitta TOKYO (Reuters) – Nomura Holdings Inc’s trust banking unit has launched a service that helps client firms unwind cross-shareholding, a longstanding practice in Japan that critics say could insulate management and undermine corporate governance. Cross shareholding, where companies take stakes in partners to cement relationships, has been discouraged by …
Nomura launches service to help clients unwind cross shareholdings Read More »
By Min Zhang and Dominique Patton BEIJING (Reuters) – China’s state planner has told some iron ore traders to release excessive inventory and reduce stocks to reasonable levels, following a joint investigation with the market regulator in Qingdao, one of the country’s biggest iron ore ports. The National Development and Reform Commission (NDRC) said in …
China urges some iron ore traders to reduce inventory Read More »
MOSCOW (Reuters) – TCS Group Holding, which runs Russia’s largest online bank, Tinkoff, will partner with payment solutions provider BPC in the Philippines as it pushes ahead with expansion into Asian markets, BPC said on Thursday. Tinkoff, which has more than 16 million customers, has earmarked up to $200 million for its South East Asia …
Russian lender TCS picks payments firm BPC for Philippines expansion Read More »
