By Mei Mei Chu and A. Ananthalakshmi KUALA LUMPUR (Reuters) -Malaysia’s economic growth hit the lowest in nearly two years in the second quarter due to sliding exports and a global slowdown, prompting the central bank on Friday to warn that full-year growth will come in at the lower end of its previous forecast. The …
Malaysia posts weakest GDP growth in nearly 2 years as exports slump Read More »
By Muyu Xu and Natalie Grover SINGAPORE/LONDON (Reuters) – China, the world’s top crude importer, is drawing on record inventories amassed earlier this year as refiners scale back purchases after OPEC+ supply cuts drove global prices above $80 a barrel, traders and analysts said. Chinese refiners, led by Sinopec and PetroChina, have built a supply …
China oil buying frenzy cools as record inventory shields it from price rally Read More »
BEIJING (Reuters) – China resumed beef imports from the Republic of South Africa on Aug. 17, according to an announcement on Thursday from the country’s customs administration. Chinese customs also said in a separate announcement on Thursday it recognises several regions in South Africa as zones free of foot-and-mouth disease (FMD) free zones. These are …
China resumes beef imports from South Africa ahead of Xi’s visit Read More »
NEW YORK (Reuters) -China Evergrande, the heavily indebted property developer, on Thursday filed for protection from creditors with the U.S. bankruptcy court in Manhattan. The filing under Chapter 15 of the U.S. bankruptcy code came after China Evergrande resolved to delay its meetings for the Hong Kong CEG Class A and Class C holders of …
China Evergrande seeks Chapter 15 protection in Manhattan bankruptcy court Read More »
By Medha Singh (Reuters) -Shares of Vietnamese electric automaker VinFast tumbled for a second straight session on Thursday, giving up some of the gains from a meteoric surge in its Wall Street debut that saw it eclipse the market values of Ford and General Motors. VinFast’s shares dropped nearly 34%, bringing the stock’s total decline …
After stellar debut, Vietnamese EV maker VinFast’s shares drop for second day Read More »
(Reuters) – Legendary investor Ray Dalio, a big enthusiast and investor in China, said on Thursday the world’s second largest economy is overdue in conducting a “big debt restructuring.” “As for the debt and the economy, there is an obvious need for a big debt restructuring of the sort that Zhu Rongji engineered in the …
Dalio says China is overdue in reducing its debt Read More »
By Heekyong Yang SEOUL (Reuters) -South Korea’s antitrust regulator said it had imposed a total of 33.6 billion won ($25.06 million) in fines on three domestic mobile carriers for exaggerating their 5G network speeds. The Korea Fair Trade Commission (KFTC) said the three South Korean firms – SK Telecom Co Ltd, KT Corp and LG …
South Korea fines mobile carriers $25 million for exaggerating 5G speeds Read More »
By Ana Mano SAO PAULO (Reuters) – JBS SA, the world’s largest meatpacker, has a positive view on China in spite of recent signs that the Asian country is demanding less beef from Brazil, one of the world’s top suppliers. Speaking at an industry event on Thursday, JBS CEO Gilberto Tomazoni said he still believes …
Brazil’s JBS remains optimistic on China despite short-term woes Read More »
By Helen Reid LONDON (Reuters) -The world’s second-biggest fashion retailer, H&M, has decided to gradually stop sourcing from Myanmar, it told Reuters on Thursday, as reports of labour abuses in the country’s garment factories increase. H&M became the latest brand to cut ties with suppliers in the country after Zara owner Inditex, Primark, Marks & …
Exclusive-H&M says it will ‘phase out’ sourcing from Myanmar Read More »
By Clare Jim HONG KONG (Reuters) – The debt crisis at Country Garden, China’s largest property developer before this year and once considered a financially sound company, has triggered fresh contagion fears just two years after China Evergrande Group defaulted. WHAT COULD HAPPEN NEXT? Since the sector’s debt crisis unfolded in mid-2021, companies accounting for …
Explainer-Country Garden: How bad is China’s property crisis? Read More »
