By Asif Shahzad ISLAMABAD (Reuters) -Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines, the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal. The privatisation decision was taken at a meeting of the Cabinet Committee of Privatisation chaired by Finance Minister …
Pakistan to privatise loss-making national airline Read More »
BERLIN (Reuters) -Taiwanese semiconductor manufacturer TSMC’s board of directors will decide in favour of building a factory in the German city of Dresden on Tuesday, the Handelsblatt daily reported, citing government sources in Germany. The German government will provide 5 billion euros ($5.49 billion) to support the construction of the factory, Handelsblatt’s report said on …
TSMC to decide in favour of German factory on Tuesday -Handelsblatt Read More »
By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) -Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the governor of the country’s central bank, Nandalal Weerasinghe, said at a LSEG FX Community Event on Monday. Weerasinghe said he would like to see private sector interest rates come down further and at …
Sri Lanka central bank chief: monetary policy transmission still incomplete Read More »
By Samuel Shen and Tom Westbrook SHANGHAI/SYDNEY (Reuters) – Since China opened to foreign investment in 1978 under Deng Xiaoping, global firms have ploughed in hundreds of billions of dollars to buy and build factories for market access and cheap labour, bolstering the Chinese currency. A gentle downtrend in foreign direct investment gave way to …
Analysis-Yuan loses core support as firms leave China Read More »
TOKYO (Reuters) – Japan’s Sumitomo Metal Mining reported a 73% drop in first-quarter profit on Monday, but lifted its full-year profit outlook by 26% thanks to stronger-than-expected gold prices and one-off gains from a weaker yen. Net profit is now forecast at 53 billion yen ($373 million) for the year to March 31, 2024, up …
Sumitomo Metal lifts FY profit f’cast on higher gold prices, weak yen Read More »
By Kitiphong Thaichareon and Orathai Sriring BANGKOK (Reuters) -Thailand is benefiting from India’s rice export ban and has no reason to halt its own shipments as it has sufficient output for exports and domestic consumption, its commerce minister said on Monday. India in late July ordered a halt to its largest rice export category in …
Thailand says no rice export halt, to benefit from India’s export ban Read More »
By Chen Aizhu SINGAPORE (Reuters) – China’s state-controlled Shaanxi Yanchang Petroleum Group is expected to double its purchases of Russian ESPO blend this year to about one million metric tons, according to two sources familiar with the plant’s operations. The company is due to start up a 50,000 barrels per day crude processing unit at …
China’s Yanchang seen doubling Russian oil purchases – sources Read More »
By Stefanno Sulaiman and Gayatri Suroyo JAKARTA (Reuters) -Indonesia’s economic growth in the second quarter accelerated unexpectedly to its highest rate in three quarters, shored up by strong household and government spending, even as exports weakened with falling commodity prices. Some economists still expect activity to slow in the second half of the year, with …
Indonesia Q2 GDP growth strongest in three quarters Read More »
BENGALURU (Reuters) – India’s Waaree Energies on Monday said it has raised about 10 billion rupees ($120.88 million) in a second round of funding led by Mumbai-based investment firm ValueQuest, which will be used by the solar panel manufacturer to expand capacity by 6 gigawatts (GW). The Mumbai-Headquartered company, which has a current capacity of …
India’s Waaree Energies raises about $121 million funding Read More »
BEIJING (Reuters) – China’s foreign exchange reserves rose more than expected in July, official data showed on Monday, as the dollar fell against other major currencies. The country’s foreign exchange reserves – the world’s largest – rose $11.3 billion to $3.204 trillion last month, compared with $3.200 trillion tipped by a Reuters poll of analysts …
China forex reserves rise to $3.204 trln in July Read More »
