By Mayu Sakoda and Yukiko Toyoda TOKYO (Reuters) – China’s economy is in a “extremely difficult” situation, which may be contributing to a rising backlash against Japan over the release of treated Fukushima water into the ocean, the head of Suntory Holdings said. Even so, the global spirits giant is planning to stick to its …
China’s economic woes may be behind Japan backlash -Suntory CEO Read More »
By Nick Carey LONDON (Reuters) – Chinese battery maker Gotion High Tech is buying a 25% stake in Slovak battery maker Inobat and will provide supply chain and technology support as the startup scales up production of electric vehicle batteries, the companies said on Thursday. The companies did not disclose terms for the investment or …
Exclusive-China’s Gotion buys 25% stake in Slovak EV battery startup Inobat Read More »
BEIJING (Reuters) – China has rolled out a series of policy measures in recent months to revive a stumbling economy after its post-pandemic recovery fell away quickly, and more steps are expected. The world’s second-largest economy staged a solid rebound in the first quarter after COVID curbs were removed, but since then demand at home …
Factbox-China’s measures to shore up a faltering economy, more support expected Read More »
By Tetsushi Kajimoto TOKYO (Reuters) -Japanese Finance Minister Shunichi Suzuki said on Friday that currencies should be set by markets although sudden moves are undesirable, while signalling no clear sign of intervening in the market to shore up the weak yen, which is driving up import bills. “Currencies should reflect economic fundamentals … I’m closely …
Japan finance minister offers no clues on intervention as yen weakens Read More »
TOKYO (Reuters) – Japan’s Seven & i said on Friday it expects an extraordinary loss and revised financial forecasts after the sale of its Sogo & Seibu department store unit. The retail giant expects to record a total extraordinary loss of 145.7 billion yen ($1.0 billion) for the second quarter of the fiscal year ending …
Seven & i expects extraordinary loss, revises forecasts on Sogo & Seibu sale Read More »
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) – The Philippines announced price ceilings for rice on Friday to protect consumers, as the rising cost of the national staple probably caused August inflation to accelerate for the first time in seven months. One of the world’s biggest rice importers, the Southeast Asian nation …
Philippines curbs rice prices as inflation worry mounts Read More »
BEIJING (Reuters) – China has issued 15 million metric tons of oil products export quotas to companies in its third batch for 2023, according to three trading sources and two domestic consultancies. The volume consists of 12 million tons of refined products quotas, made up of kerosene, diesel and gasoline exports, and 3 million tons …
China adds 15 million tons to 2023 fuel export quotas in third batch Read More »
TOKYO (Reuters) – The Japanese government on Thursday released new guidelines to promote more mergers and acquisitions (M&A) in the world’s third-largest economy as it hopes to spur consolidation in industry and boost competitiveness. The guidelines set out a code of conduct for M&As, cracking down on some defence tactics and stressing that credible takeover …
Japan releases new M&A guidelines to promote takeovers, consolidation Read More »
By Aditi Shah and Neha Arora NEW DELHI (Reuters) – India’s steel-to-energy JSW Group is in early talks with Chinese automaker Leapmotor to license technology to build electric vehicles in India, according to people familiar with the discussions. Under the technology licensing agreement, JSW would use Leapmotor’s platform – the structural underpinnings of a car …
Exclusive-India’s JSW in talks with Chinese carmaker Leapmotor for EV tech -sources Read More »
HONG KONG/SHANGHAI (Reuters) -Embattled Chinese developer Country Garden is delaying a deadline for creditors to vote on whether to postpone payments for an onshore private bond, Bloomberg reported on Thursday, while Beijing rolled out more support measures for the property sector. The vote on the 3.9 billion yuan ($535.4 million) onshore private bond is a …
Country Garden said to delay key vote as China rolls out more support Read More »
