By Xie Yu HONG KONG (Reuters) – A Hong Kong court on Wednesday adjourned the formal hearing for a winding-up petition against Chinese property developer Kaisa Group to Oct. 6. The adjournment was initiated because the petitioner would have to amend some technical issues with the petition, including fixing the legal name of an entity, …
China developer Kaisa’s winding-up hearing adjourned to next month Read More »
BRUSSELS (Reuters) -The European Commission started an investigation on Wednesday to into whether to impose tariffs to protect the European Union against Chinese electric vehicle (EV) imports benefiting from state subsidies. “Global markets are now flooded with cheaper electric cars. And their price is kept artificially low by huge state subsidies,” European Commission President Ursula …
EU to assess punitive tariffs on Chinese electric cars Read More »
BEIJING (Reuters) -China’s central bank will boost demand and support a modest rebound in prices, the Financial News, a publication run by the People’s Bank of China (PBOC) said on Wednesday, citing a unnamed senior central bank official. The PBOC will ramp up its coordination with fiscal and industrial policies and strengthen the guidance of …
China’s central bank vows to support demand, price rebound Read More »
By Yelin Mo and Brenda Goh BEIJING (Reuters) – Apple’s iPhone 15 drew mixed reactions in its third largest market of China on Wednesday, with many online users liking its faster chip and improved gaming capabilities while others preferred Huawei’s new smartphone. China remains key for the U.S. tech giant, which unveiled its new iPhone …
Chinese consumers cheer Apple’s iPhone 15, others prefer Huawei Read More »
By Uditha Jayasinghe (Reuters) – Crisis-hit Sri Lanka must convince IMF officials that it has met key goals under a $2.9 billion bailout to push forward debt restructuring efforts crucial to a recovery for its battered economy. The officials, set to arrive in Colombo on Thursday, will assess the island’s performance under a four-year program …
Factbox-Crisis-hit Sri Lanka readies for critical first IMF review Read More »
By Phuong Nguyen HANOI (Reuters) -Vietnamese electric vehicle maker VinFast plans to expand in seven more markets in Asia, including Indonesia where it aims to start deliveries from next year and establish a plant in 2026. VinFast, formed and almost entirely controlled by Pham Nhat Vuong, Vietnam’s richest man and founder of parent conglomerate Vingroup, …
EV maker VinFast plans Asia expansion, to launch Indonesia plant in 2026 Read More »
By Echo Wang NEW YORK (Reuters) -Arm, the chip designer owned by SoftBank Group Corp, received enough backing from investors to secure at least the top end of the price range in its initial public offering, which would command a $54.5 billion valuation on a fully diluted basis, a person familiar with the matter said …
Exclusive-Arm to fetch at least $54.5 billion valuation in IPO -source Read More »
By Stephen Nellis CUPERTINO, California (Reuters) -Apple launched a new series of iPhones that included a new titanium shell, a faster chip and improved video game playing abilities. The biggest surprise with the iPhone 15 that will come out Sept. 22: It did not raise prices, reflecting the global smartphone slump. The event at Apple’s …
Apple unveils iPhone 15 Pro with titanium case, holds line on prices Read More »
By Summer Zhen HONG KONG (Reuters) – Canadian pension fund manager Alberta Investment Management Corporation (AIMCo) said on Tuesday it was expanding into Asia and opening its first regional office in Singapore. The fund manager, which manages $158 billion in assets, invests globally on behalf of 17 pension, endowment and government funds in the Canadian …
Canada’s AIMCo to open its first Asia office in Singapore Read More »
By Casey Hall SHANGHAI (Reuters) -New Alibaba Group CEO Eddie Wu has told staff the tech giant’s two main strategic focuses going forward will be “user first” and “AI-driven”, according to an internal letter reviewed by Reuters. Wu, who sent the letter on Tuesday, his third day in the top job, also said Alibaba would …
New Alibaba Group CEO lays out strategic priorities for staff Read More »
