TOKYO (Reuters) -Nippon Steel, Japan’s top steelmaker, posted a 23% drop in net profit in the first quarter of the 2023/2024 fiscal year, but raised its full-year forecast by 8% on higher-than-expected margins amid falling prices of raw materials, it said on Friday. The move comes despite sluggish steel demand at home and abroad including …
Japan’s Nippon Steel Q1 profit falls 23%, but raises annual f’cast Read More »
By Stefanno Sulaiman JAKARTA (Reuters) – TikTok told Reuters it is in early-stage talks with regulators to obtain a payments licence in Indonesia, a move that would further its e-commerce ambitions in a major market at a time when it is under intensifying scrutiny in the U.S. and elsewhere. The news follows an announcement by …
Exclusive-TikTok in talks to gain Indonesian payments licence Read More »
By Xie Yu and Selena Li HONG KONG (Reuters) – China and Saudi Arabia’s stock exchanges are in talks to allow exchange-traded funds (ETFs) to list on each other’s bourses, three sources familiar with the matter said, as the countries look to deepen financial ties amid warming diplomatic relations. The talks are in the early …
Exclusive-China, Saudi in talks for ETF cross-listings to bolster financial ties-sources Read More »
TOKYO (Reuters) – Japan’s Government Pension Investment Fund (GPIF) reported on Friday a record quarterly investment return of 18.98 trillion yen ($133.2 billion), driven by the strong performance of global stocks and a weaker yen that inflated overseas returns. The world’s largest pension fund gained 9.49% over the three months through June, boosting its overall …
Japan’s GPIF posts record quarterly profit of $133 billion Read More »
SHENZHEN, China (Reuters) – Huawei Technologies’ handset business is “on the road to a comeback” the head of the company’s consumer business Richard Yu said in his keynote at the company’s annual developer conference in the southern city of Dongguan on Friday. Huawei’s share of the domestic smartphone market share grew by 76.1% in the …
China’s Huawei’s handset business making a comeback, executive says Read More »
TOKYO (Reuters) – Japan’s Ministry of Finance (MOF) warned on Thursday of a fake account for its top currency diplomat Masato Kanda on social media X, formerly known as Twitter, as the market fears a currency intervention amid the yen’s drop to a one-month-low. In a rare English-language post on X, the ministry said “Please …
Japan asks X to take down fake account of top FX diplomat as yen weakens Read More »
By Stephen Nellis (Reuters) – Apple on Thursday forecast that a sales slump would continue into the current quarter, sending shares down despite beating Wall Street sales and profit targets in the fiscal third quarter. Apple shares dropped about 2% after the company predicted what could be the fourth quarter in a row of declining …
Apple sees sales slump continuing, shares drop 2% despite beating sales expectations Read More »
By Michael Martina and Patricia Zengerle WASHINGTON (Reuters) – The chairman of a U.S. congressional committee on China held out the possibility on Thursday of subpoenas for executives from asset management firm BlackRock and index provider MSCI if they do not provide “fulsome” answers about investments in blacklisted Chinese companies. The House of Representatives select …
Subpoenas possible for BlackRock, MSCI over China investments -US House panel chair Read More »
By David Stanway SINGAPORE (Reuters) – China approved more than 50 gigawatts (GW) of new coal power in the first half of 2023, research by environment group Greenpeace showed, with the world’s top carbon polluter focused on energy security rather than cutting fossil fuel consumption. As scientists and environmentalists urge governments to make deeper emission …
China’s energy security push drives up fossil fuel approvals – research Read More »
BEIJING (Reuters) – China’s central bank governor pledged on Thursday to guide more financial resources towards the private economy, suggesting refreshed urgency from Beijing to bolster the confidence among private firms as economic momentum weakens. During a meeting on Thursday with at least eight private firms from sectors including property, aluminium and agribusiness, the People’s …
China’s central bank to guide more financial resources to support private sector Read More »
