By Manya Saini, Jaiveer Shekhawat and Stephen Nellis (Reuters) -SoftBank Group Corp’s Arm Holdings Ltd reported a 1% fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year. Arm’s stock market …
SoftBank-backed chip designer Arm reveals filing for blockbuster U.S. IPO Read More »
BEIJING (Reuters) – China’s finance ministry on Tuesday announced the temporary offering of tax incentives for “innovation” firms’ domestic issuance of Chinese depositary receipts (CDRs). Investors will be temporarily exempted from individual income tax on the difference in income obtained from the transfer of “innovation” firms’ CDRs from Sept. 21 to the end of 2025, …
China offers tax incentives for ‘innovation’ firms’ domestic CDR issuance Read More »
By Roxanne Liu and Kane Wu (Reuters) – Chinese commercial rocket developer OrienSpace is set to be valued at about 6 billion yuan ($823 million) in a new fundraising exercise ahead of capital injection, two sources with knowledge of the matter told Reuters. One of China’s emerging privately-owned rocket startups, OrienSpace is looking to raise …
China’s OrienSpace could be valued at $823 million in new fundraising -sources Read More »
SEOUL (Reuters) – South Korea’s policymakers vowed to take measures to control consumer debt as the country’s household credit grew at the fastest pace in 1-1/2 years in the second quarter on rising mortgage demand. Total household credit stood at 1,862.8 trillion won ($1.39 trillion) at the end of June, up 0.5%, or 9.5 trillion …
S. Korean policymakers vow to control rising household debt Read More »
By Leika Kihara TOKYO (Reuters) – Japan will forgo intervening in the market unless the yen plunges past 150 to the dollar and becomes a huge political headache for premier Fumio Kishida, said a former central bank official who was involved in Tokyo’s market foray a decade ago. The dollar stood at 146.125 yen on …
Ex-BOJ official predicts no yen intervention until breach of 150 threshold Read More »
SINGAPORE (Reuters) – Privately controlled Chinese refining and petrochemical manufacturer Hengli Group said on Tuesday that Sinochem Group and itself were winding up their Singapore-based joint venture Hengli Oilchem due to business and strategic considerations. Hengli Oilchem Pte Ltd (HOPL), the joint venture between Hengli and China’s state-run Sinochem, said last week it began a …
China’s Hengli says Singapore trade JV with Sinochem in voluntary liquidation Read More »
By Francesco Guarascio and Ju-min Park HANOI/SEOUL (Reuters) – Korean and Chinese magnet firms, including an Apple supplier, are set to open factories in Vietnam, according to documents and people familiar with the plans, amid a push to diversify supply chains away from China and defend against Sino-U.S. tension. South Korea’s Star Group Industrial (SGI) …
Exclusive-Rare earths magnet firms turn to Vietnam in China hedge Read More »
SEOUL (Reuters) – South Korea’s consumer sentiment weakened in August for the first time in six months, a central bank survey showed on Tuesday, amid worries about sluggish economic growth. The consumer sentiment index fell to 103.1 from 103.2 the previous month, the Bank of Korea’s monthly survey of consumers showed, in its first decline …
South Korea consumer sentiment weakens in August on growth worries Read More »
(Reuters) – Embattled property developer China Evergrande Group said on Monday it was confident its internal controls and processes had improved and could meet the listing rules of the Hong Kong stock exchange. Trading in the company’s shares was suspended on March 21 last year after it got sucked into a debt crisis. The company …
China Evergrande says improved internal control may address listing rules Read More »
DHAKA (Reuters) – Sri Lanka has repaid $50 million to Bangladesh out of a $200 million loan, a senior Bangladesh central bank official said on Monday, as the crisis-hit island nation makes efforts to recover from its worst financial crisis in more than seven decades. The loan was part of a swap agreement with the …
Sri Lanka repays $50 million loan to Bangladesh – source Read More »
